Can I retire at age 70 with 992,000?

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 $992,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$81,918$81,189$80,477$79,782$79,103$78,473
2 years$40,554$39,798$39,066$38,357$37,668$37,033
3 years$26,767$26,009$25,279$24,576$23,898$23,278
4 years$19,875$19,119$18,396$17,705$17,044$16,443
5 years$15,741$14,990$14,276$13,599$12,957$12,377
6 years$12,986$12,240$11,537$10,876$10,252$9,694
7 years$11,019$10,279$9,588$8,941$8,338$7,802
8 years$9,544$8,811$8,131$7,501$6,917$6,403
9 years$8,398$7,672$7,003$6,389$5,825$5,334
10 years$7,481$6,762$6,106$5,507$4,963$4,493
11 years$6,732$6,020$5,375$4,793$4,269$3,820
12 years$6,108$5,403$4,770$4,204$3,699$3,272
13 years$5,580$4,883$4,262$3,712$3,226$2,819
14 years$5,128$4,439$3,829$3,295$2,828$2,441
15 years$4,737$4,055$3,458$2,938$2,490$2,122
16 years$4,395$3,720$3,135$2,631$2,200$1,852
17 years$4,093$3,426$2,852$2,364$1,951$1,621
18 years$3,826$3,166$2,604$2,130$1,735$1,422
19 years$3,587$2,934$2,384$1,925$1,546$1,250
20 years$3,371$2,726$2,188$1,743$1,381$1,102
21 years$3,177$2,540$2,012$1,582$1,236$972
22 years$3,001$2,371$1,855$1,439$1,108$860
23 years$2,840$2,217$1,712$1,310$994$761
24 years$2,693$2,077$1,584$1,195$894$674
25 years$2,558$1,950$1,467$1,091$804$598
26 years$2,433$1,832$1,360$998$725$530
27 years$2,318$1,724$1,263$913$653$471
28 years$2,211$1,625$1,174$837$589$419
29 years$2,112$1,533$1,093$767$532$373
30 years$2,019$1,448$1,018$704$481$332
31 years$1,933$1,368$949$647$435$295
32 years$1,852$1,295$885$594$393$263
33 years$1,777$1,226$827$547$356$234
34 years$1,705$1,162$772$503$322$209
35 years$1,639$1,102$722$463$292$186
36 years$1,576$1,046$676$426$264$166
37 years$1,516$994$632$393$240$148
38 years$1,460$944$592$362$217$132
39 years$1,407$898$555$334$197$118
40 years$1,356$854$520$308$179$105
41 years$1,308$813$488$284$162$94
42 years$1,263$775$457$262$147$84
43 years$1,220$738$429$242$134$75
44 years$1,179$703$403$224$121$67
45 years$1,139$671$378$206$110$60
46 years$1,102$640$355$191$100$53
47 years$1,066$611$334$176$91$48
48 years$1,032$583$314$163$82$43
49 years$1,000$557$295$150$75$38
50 years$969$532$277$139$68$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $992,000, adding $5,813 every year, while hoping to spend $32,718 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: 74/15/11 Blend
69$992,000$992,000$992,000$992,000
70$1,099,180$1,046,604$1,031,228$1,177,759
71$1,176,485$1,063,076$1,030,963$1,246,892
72$1,260,578$1,079,258$1,029,592$1,317,953
73$1,352,118$1,095,103$1,027,043$1,394,903
74$1,451,827$1,110,557$1,023,243$1,478,315
75$1,560,504$1,125,564$1,018,112$1,568,821
76$1,679,025$1,140,066$1,011,568$1,667,117
77$1,808,354$1,153,998$1,003,524$1,773,971
78$1,949,553$1,167,291$993,890$1,890,227
79$2,103,793$1,179,874$982,570$2,016,818
80$2,272,360$1,191,667$969,466$2,154,768
81$2,456,670$1,202,589$954,474$2,305,209
82$2,658,286$1,212,551$937,483$2,469,388
83$2,878,923$1,221,458$918,381$2,648,677
84$3,120,475$1,229,211$897,049$2,844,590
85$3,385,024$1,235,703$873,360$3,058,794
86$3,674,864$1,240,820$847,185$3,293,129
87$3,992,522$1,244,442$818,388$3,549,620
88$4,340,779$1,246,440$786,824$3,830,499
89$4,722,701$1,246,678$752,345$4,138,227
90$5,141,663$1,245,011$714,795$4,475,516
91$5,601,382$1,241,286$674,010$4,845,356
92$6,105,953$1,235,340$629,819$5,251,041
93$6,659,887$1,226,998$582,045$5,696,201
94$7,268,153$1,216,079$530,502$6,184,840
95$7,936,225$1,202,386$474,993$6,721,368
96$8,670,131$1,185,715$415,317$7,310,646
97$9,476,515$1,165,845$351,260$7,958,033
98$10,362,694$1,142,546$282,602$8,669,435
99$11,336,730$1,115,572$209,110$9,451,361
100$12,407,504$1,084,663$130,543$10,310,987