Can I retire at age 70 with 1,120,000?

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 $1,120,000?

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$92,489$91,665$90,861$90,076$89,310$88,012
2 years$45,786$44,934$44,107$43,306$42,529$41,223
3 years$30,221$29,365$28,540$27,747$26,982$25,710
4 years$22,440$21,586$20,770$19,990$19,244$18,015
5 years$17,772$16,924$16,118$15,354$14,629$13,447
6 years$14,662$13,820$13,026$12,279$11,575$10,442
7 years$12,441$11,606$10,825$10,095$9,414$8,330
8 years$10,776$9,948$9,180$8,469$7,810$6,774
9 years$9,482$8,662$7,907$7,213$6,577$5,589
10 years$8,447$7,635$6,893$6,218$5,604$4,663
11 years$7,601$6,797$6,069$5,411$4,819$3,926
12 years$6,896$6,100$5,386$4,747$4,176$3,328
13 years$6,300$5,513$4,812$4,191$3,642$2,838
14 years$5,790$5,011$4,324$3,720$3,193$2,431
15 years$5,348$4,578$3,904$3,317$2,811$2,091
16 years$4,962$4,200$3,539$2,970$2,484$1,804
17 years$4,622$3,868$3,221$2,669$2,203$1,562
18 years$4,319$3,574$2,940$2,405$1,959$1,355
19 years$4,049$3,313$2,691$2,173$1,746$1,178
20 years$3,807$3,078$2,470$1,968$1,559$1,025
21 years$3,587$2,867$2,272$1,786$1,395$894
22 years$3,388$2,677$2,094$1,624$1,251$781
23 years$3,206$2,503$1,933$1,479$1,123$683
24 years$3,040$2,345$1,788$1,349$1,009$597
25 years$2,888$2,201$1,656$1,232$908$523
26 years$2,747$2,069$1,536$1,127$818$459
27 years$2,617$1,947$1,426$1,031$737$402
28 years$2,496$1,834$1,326$945$665$353
29 years$2,384$1,731$1,234$866$601$310
30 years$2,280$1,634$1,149$795$543$272
31 years$2,182$1,545$1,071$730$491$239
32 years$2,091$1,462$1,000$671$444$210
33 years$2,006$1,384$933$617$402$185
34 years$1,925$1,312$872$568$364$163
35 years$1,850$1,245$815$523$330$143
36 years$1,779$1,181$763$481$299$126
37 years$1,712$1,122$714$444$271$111
38 years$1,648$1,066$669$409$245$97
39 years$1,588$1,014$626$377$222$86
40 years$1,531$965$587$348$202$75
41 years$1,477$918$551$321$183$66
42 years$1,426$874$516$296$166$59
43 years$1,377$833$485$273$151$52
44 years$1,331$794$455$252$137$45
45 years$1,286$757$427$233$124$40
46 years$1,244$723$401$215$113$35
47 years$1,204$689$377$199$102$31
48 years$1,166$658$354$184$93$27
49 years$1,129$629$333$170$84$24
50 years$1,094$600$313$157$77$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $1,120,000, adding $2,411 every year, while hoping to spend $39,112 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: 73/13/14 Blend
69$1,120,000$1,120,000$1,120,000$1,120,000
70$1,236,727$1,177,367$1,160,007$1,323,084
71$1,321,258$1,193,443$1,157,252$1,396,651
72$1,413,101$1,208,996$1,153,095$1,472,166
73$1,512,959$1,223,959$1,147,445$1,553,837
74$1,621,608$1,238,260$1,140,212$1,642,264
75$1,739,901$1,251,824$1,131,298$1,738,109
76$1,868,776$1,264,568$1,120,601$1,842,100
77$2,009,265$1,276,405$1,108,015$1,955,042
78$2,162,505$1,287,244$1,093,428$2,077,820
79$2,329,746$1,296,985$1,076,725$2,211,410
80$2,512,367$1,305,524$1,057,781$2,356,888
81$2,711,881$1,312,748$1,036,470$2,515,439
82$2,929,959$1,318,538$1,012,657$2,688,371
83$3,168,437$1,322,769$986,203$2,877,124
84$3,429,337$1,325,304$956,961$3,083,285
85$3,714,888$1,326,002$924,778$3,308,606
86$4,027,541$1,324,711$889,492$3,555,014
87$4,369,998$1,321,269$850,937$3,824,637
88$4,745,231$1,315,505$808,938$4,119,819
89$5,156,518$1,307,238$763,311$4,443,144
90$5,607,465$1,296,275$713,864$4,797,459
91$6,102,046$1,282,412$660,397$5,185,905
92$6,644,636$1,265,432$602,702$5,611,942
93$7,240,057$1,245,105$540,560$6,079,386
94$7,893,616$1,221,190$473,743$6,592,441
95$8,611,164$1,193,427$402,012$7,155,744
96$9,399,142$1,161,544$325,119$7,774,403
97$10,264,648$1,125,253$242,804$8,454,052
98$11,215,499$1,084,247$154,794$9,200,898
99$12,260,308$1,038,204$60,809$10,021,787
100$13,408,564$986,780$0$10,924,261