Can I retire at age 70 with 997,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $997,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$82,331$81,598$80,882$80,184$79,502$78,217
2 years$40,758$39,999$39,263$38,550$37,858$36,567
3 years$26,902$26,140$25,406$24,699$24,019$22,762
4 years$19,976$19,216$18,489$17,795$17,130$15,917
5 years$15,821$15,065$14,348$13,668$13,022$11,856
6 years$13,052$12,302$11,596$10,930$10,304$9,187
7 years$11,075$10,331$9,636$8,986$8,380$7,312
8 years$9,592$8,856$8,172$7,538$6,952$5,933
9 years$8,440$7,710$7,039$6,421$5,855$4,883
10 years$7,519$6,796$6,136$5,535$4,988$4,065
11 years$6,766$6,050$5,402$4,817$4,290$3,413
12 years$6,139$5,431$4,794$4,225$3,718$2,886
13 years$5,608$4,908$4,284$3,730$3,242$2,454
14 years$5,154$4,461$3,849$3,311$2,842$2,097
15 years$4,761$4,075$3,475$2,953$2,502$1,799
16 years$4,417$3,739$3,151$2,644$2,211$1,548
17 years$4,114$3,443$2,867$2,376$1,961$1,336
18 years$3,845$3,182$2,617$2,141$1,744$1,155
19 years$3,605$2,949$2,396$1,935$1,554$1,001
20 years$3,388$2,740$2,199$1,752$1,388$869
21 years$3,193$2,552$2,022$1,590$1,242$756
22 years$3,016$2,383$1,864$1,446$1,113$658
23 years$2,854$2,228$1,721$1,317$999$574
24 years$2,706$2,088$1,592$1,201$898$500
25 years$2,570$1,959$1,474$1,097$808$437
26 years$2,445$1,841$1,367$1,003$728$382
27 years$2,329$1,733$1,270$918$657$334
28 years$2,222$1,633$1,180$841$592$292
29 years$2,122$1,541$1,098$771$535$255
30 years$2,029$1,455$1,023$708$483$224
31 years$1,943$1,375$954$650$437$196
32 years$1,862$1,301$890$597$395$172
33 years$1,785$1,232$831$549$358$150
34 years$1,714$1,168$776$505$324$132
35 years$1,647$1,108$726$465$293$115
36 years$1,583$1,052$679$429$266$101
37 years$1,524$999$636$395$241$89
38 years$1,467$949$595$364$218$78
39 years$1,414$903$558$336$198$68
40 years$1,363$859$523$310$180$60
41 years$1,315$817$490$286$163$53
42 years$1,269$778$460$264$148$46
43 years$1,226$742$431$243$134$40
44 years$1,185$707$405$225$122$36
45 years$1,145$674$380$207$111$31
46 years$1,108$643$357$192$100$27
47 years$1,072$614$335$177$91$24
48 years$1,038$586$315$164$83$21
49 years$1,005$560$296$151$75$19
50 years$973$534$279$140$68$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $997,000, adding $6,344 every year, while hoping to spend $40,257 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: 54/35/11 Blend
69$997,000$997,000$997,000$997,000
70$1,105,238$1,052,397$1,036,943$1,161,481
71$1,175,139$1,061,131$1,028,848$1,209,112
72$1,250,821$1,068,944$1,019,132$1,256,015
73$1,332,830$1,075,748$1,007,699$1,306,122
74$1,421,769$1,081,450$994,447$1,359,743
75$1,518,299$1,085,951$979,270$1,417,226
76$1,623,148$1,089,144$962,058$1,478,951
77$1,737,115$1,090,919$942,693$1,545,340
78$1,861,082$1,091,155$921,055$1,616,861
79$1,996,018$1,089,727$897,015$1,694,028
80$2,142,987$1,086,499$870,441$1,777,412
81$2,303,164$1,081,330$841,192$1,867,642
82$2,477,839$1,074,067$809,125$1,965,415
83$2,668,433$1,064,551$774,085$2,071,500
84$2,876,510$1,052,610$735,913$2,186,748
85$3,103,791$1,038,066$694,444$2,312,097
86$3,352,173$1,020,726$649,502$2,448,587
87$3,623,740$1,000,387$600,907$2,597,363
88$3,920,792$976,836$548,467$2,759,692
89$4,245,857$949,845$491,985$2,936,974
90$4,601,720$919,174$431,253$3,130,755
91$4,991,450$884,567$366,054$3,342,742
92$5,418,423$845,756$296,161$3,574,820
93$5,886,359$802,456$221,340$3,829,072
94$6,399,355$754,364$141,343$4,107,797
95$6,961,924$701,162$55,912$4,413,534
96$7,579,034$642,513$0$4,749,087
97$8,256,160$578,060$0$5,121,687
98$8,999,331$507,428$0$5,537,886
99$9,815,187$430,217$0$5,994,920
100$10,711,046$346,007$0$6,496,989