Can I retire at age 70 with 996,000?

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 $996,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$82,249$81,516$80,801$80,104$79,422$78,268
2 years$40,717$39,959$39,224$38,511$37,820$36,659
3 years$26,875$26,114$25,380$24,675$23,995$22,864
4 years$19,956$19,196$18,470$17,777$17,113$16,021
5 years$15,805$15,050$14,334$13,654$13,009$11,959
6 years$13,039$12,290$11,584$10,919$10,294$9,286
7 years$11,063$10,321$9,626$8,977$8,372$7,407
8 years$9,583$8,847$8,164$7,531$6,945$6,024
9 years$8,432$7,703$7,032$6,415$5,849$4,970
10 years$7,511$6,790$6,130$5,530$4,983$4,147
11 years$6,759$6,044$5,397$4,812$4,286$3,491
12 years$6,132$5,425$4,790$4,221$3,714$2,959
13 years$5,603$4,903$4,279$3,727$3,239$2,523
14 years$5,149$4,456$3,845$3,308$2,839$2,162
15 years$4,756$4,071$3,471$2,950$2,500$1,859
16 years$4,413$3,735$3,147$2,642$2,209$1,605
17 years$4,110$3,440$2,864$2,373$1,959$1,389
18 years$3,841$3,179$2,614$2,139$1,742$1,205
19 years$3,601$2,946$2,393$1,933$1,552$1,047
20 years$3,385$2,737$2,197$1,750$1,387$912
21 years$3,190$2,550$2,020$1,589$1,241$795
22 years$3,013$2,380$1,862$1,444$1,112$694
23 years$2,851$2,226$1,719$1,315$998$607
24 years$2,704$2,086$1,590$1,200$897$531
25 years$2,568$1,957$1,473$1,096$808$465
26 years$2,443$1,840$1,366$1,002$727$408
27 years$2,327$1,731$1,268$917$656$358
28 years$2,220$1,631$1,179$840$592$314
29 years$2,120$1,539$1,097$770$534$276
30 years$2,027$1,453$1,022$707$483$242
31 years$1,941$1,374$953$649$437$213
32 years$1,860$1,300$889$597$395$187
33 years$1,784$1,231$830$549$357$164
34 years$1,712$1,167$776$505$324$145
35 years$1,645$1,107$725$465$293$127
36 years$1,582$1,050$678$428$266$112
37 years$1,522$998$635$394$241$98
38 years$1,466$948$595$364$218$87
39 years$1,412$902$557$335$198$76
40 years$1,362$858$522$309$179$67
41 years$1,314$817$490$285$163$59
42 years$1,268$778$459$263$148$52
43 years$1,225$741$431$243$134$46
44 years$1,183$706$404$224$122$40
45 years$1,144$674$380$207$110$36
46 years$1,107$643$357$191$100$31
47 years$1,071$613$335$177$91$28
48 years$1,036$585$315$163$83$24
49 years$1,004$559$296$151$75$21
50 years$972$534$278$140$68$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $996,000, adding $2,803 every year, while hoping to spend $58,943 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: 67/9/24 Blend
69$996,000$996,000$996,000$996,000
70$1,100,483$1,047,695$1,032,257$1,167,251
71$1,150,018$1,036,317$1,004,123$1,201,072
72$1,202,629$1,022,407$973,071$1,231,061
73$1,258,569$1,005,776$938,940$1,262,493
74$1,318,113$986,229$901,565$1,295,510
75$1,381,562$963,556$860,769$1,330,273
76$1,449,247$937,536$816,370$1,366,959
77$1,521,529$907,934$768,177$1,405,765
78$1,598,803$874,501$715,990$1,446,911
79$1,681,506$836,976$659,600$1,490,642
80$1,770,112$795,080$598,789$1,537,229
81$1,865,144$748,520$533,329$1,586,974
82$1,967,176$696,985$462,983$1,640,212
83$2,076,836$640,145$387,501$1,697,314
84$2,194,815$577,655$306,624$1,758,694
85$2,321,872$509,145$220,082$1,824,810
86$2,458,839$434,229$127,591$1,896,171
87$2,606,631$352,497$28,855$1,973,339
88$2,766,253$263,515$0$2,056,939
89$2,938,809$166,825$0$2,167,259
90$3,125,513$61,946$0$2,294,632
91$3,327,701$0$0$2,432,596
92$3,546,837$0$0$2,587,297
93$3,784,537$0$0$2,761,809
94$4,042,574$0$0$2,951,305
95$4,322,899$0$0$3,157,225
96$4,627,658$0$0$3,381,153
97$4,959,213$0$0$3,624,831
98$5,320,162$0$0$3,890,177
99$5,713,364$0$0$4,179,299
100$6,141,965$0$0$4,494,520