Can I retire at age 70 with 988,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $988,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$81,588$80,861$80,152$79,460$78,785$78,420
2 years$40,390$39,638$38,909$38,202$37,516$37,148
3 years$26,659$25,904$25,177$24,476$23,802$23,442
4 years$19,795$19,042$18,322$17,634$16,976$16,626
5 years$15,678$14,929$14,219$13,545$12,905$12,567
6 years$12,934$12,191$11,491$10,832$10,211$9,885
7 years$10,975$10,238$9,549$8,905$8,304$7,991
8 years$9,506$8,776$8,098$7,470$6,889$6,588
9 years$8,364$7,641$6,975$6,363$5,802$5,513
10 years$7,451$6,735$6,081$5,485$4,943$4,667
11 years$6,705$5,996$5,354$4,774$4,251$3,987
12 years$6,083$5,382$4,751$4,187$3,684$3,432
13 years$5,558$4,863$4,245$3,697$3,213$2,972
14 years$5,108$4,421$3,814$3,281$2,816$2,587
15 years$4,718$4,038$3,444$2,926$2,480$2,261
16 years$4,377$3,705$3,122$2,620$2,192$1,984
17 years$4,077$3,412$2,841$2,354$1,943$1,746
18 years$3,810$3,153$2,593$2,122$1,728$1,541
19 years$3,572$2,922$2,374$1,917$1,540$1,362
20 years$3,358$2,715$2,179$1,736$1,376$1,207
21 years$3,164$2,529$2,004$1,576$1,231$1,072
22 years$2,989$2,361$1,847$1,433$1,103$953
23 years$2,829$2,208$1,706$1,305$990$849
24 years$2,682$2,069$1,577$1,190$890$756
25 years$2,547$1,942$1,461$1,087$801$675
26 years$2,423$1,825$1,355$994$722$603
27 years$2,308$1,717$1,258$910$651$539
28 years$2,202$1,618$1,170$833$587$482
29 years$2,103$1,527$1,088$764$530$432
30 years$2,011$1,442$1,014$701$479$387
31 years$1,925$1,363$945$644$433$346
32 years$1,845$1,290$882$592$392$311
33 years$1,769$1,221$823$544$354$279
34 years$1,699$1,158$769$501$321$250
35 years$1,632$1,098$719$461$291$224
36 years$1,569$1,042$673$425$263$201
37 years$1,510$990$630$391$239$181
38 years$1,454$941$590$361$216$162
39 years$1,401$894$553$333$196$146
40 years$1,351$851$518$307$178$131
41 years$1,303$810$486$283$161$118
42 years$1,258$771$456$261$147$106
43 years$1,215$735$427$241$133$95
44 years$1,174$701$401$223$121$86
45 years$1,135$668$377$206$110$77
46 years$1,098$637$354$190$100$69
47 years$1,062$608$332$175$90$62
48 years$1,028$581$312$162$82$56
49 years$996$554$294$150$75$50
50 years$965$530$276$138$68$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $988,000, adding $5,394 every year, while hoping to spend $30,826 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 57/32/11 Blend
69$988,000$988,000$988,000$988,000
70$1,094,340$1,041,976$1,026,662$1,153,454
71$1,173,164$1,060,234$1,028,256$1,212,250
72$1,258,995$1,078,354$1,028,871$1,272,396
73$1,352,515$1,096,296$1,028,441$1,337,196
74$1,454,475$1,114,017$1,026,897$1,407,100
75$1,565,700$1,131,474$1,024,167$1,482,602
76$1,687,102$1,148,616$1,020,177$1,564,251
77$1,819,679$1,165,391$1,014,846$1,652,646
78$1,964,535$1,181,744$1,008,092$1,748,454
79$2,122,883$1,197,615$999,828$1,852,406
80$2,296,058$1,212,939$989,964$1,965,310
81$2,485,531$1,227,648$978,403$2,088,055
82$2,692,922$1,241,669$965,046$2,221,622
83$2,920,013$1,254,924$949,788$2,367,095
84$3,168,769$1,267,330$932,520$2,525,666
85$3,441,351$1,278,797$913,127$2,698,650
86$3,740,142$1,289,231$891,490$2,887,499
87$4,067,765$1,298,531$867,483$3,093,812
88$4,427,108$1,306,590$840,975$3,319,353
89$4,821,353$1,313,294$811,828$3,566,067
90$5,254,006$1,318,520$779,899$3,836,098
91$5,728,928$1,322,140$745,038$4,131,811
92$6,250,370$1,324,017$707,089$4,455,814
93$6,823,017$1,324,003$665,886$4,810,982
94$7,452,031$1,321,945$621,259$5,200,485
95$8,143,095$1,317,678$573,029$5,627,818
96$8,902,474$1,311,027$521,008$6,096,836
97$9,737,065$1,301,806$465,001$6,611,788
98$10,654,471$1,289,820$404,803$7,177,359
99$11,663,065$1,274,859$340,202$7,798,716
100$12,772,074$1,256,704$270,975$8,481,555