Can I retire at age 70 with 2,060,000?

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$170,113$168,598$167,119$165,676$164,267$163,438
2 years$84,214$82,646$81,126$79,652$78,223$77,385
3 years$55,585$54,010$52,494$51,034$49,628$48,809
4 years$41,273$39,703$38,202$36,767$35,395$34,600
5 years$32,689$31,128$29,646$28,241$26,907$26,139
6 years$26,967$25,418$23,959$22,584$21,290$20,551
7 years$22,882$21,346$19,910$18,568$17,315$16,603
8 years$19,820$18,298$16,885$15,576$14,364$13,681
9 years$17,439$15,931$14,543$13,267$12,097$11,442
10 years$15,536$14,043$12,679$11,437$10,307$9,680
11 years$13,980$12,501$11,162$9,953$8,864$8,265
12 years$12,684$11,221$9,906$8,730$7,682$7,109
13 years$11,588$10,140$8,851$7,708$6,699$6,152
14 years$10,649$9,217$7,952$6,842$5,872$5,352
15 years$9,837$8,420$7,180$6,102$5,170$4,675
16 years$9,127$7,725$6,510$5,463$4,569$4,099
17 years$8,501$7,115$5,924$4,909$4,052$3,605
18 years$7,945$6,574$5,407$4,424$3,602$3,178
19 years$7,448$6,093$4,950$3,997$3,211$2,809
20 years$7,001$5,662$4,543$3,620$2,868$2,488
21 years$6,598$5,274$4,179$3,286$2,567$2,207
22 years$6,231$4,923$3,851$2,987$2,301$1,961
23 years$5,897$4,604$3,556$2,721$2,065$1,745
24 years$5,592$4,314$3,289$2,481$1,856$1,554
25 years$5,311$4,048$3,046$2,266$1,670$1,386
26 years$5,052$3,805$2,825$2,072$1,505$1,237
27 years$4,813$3,581$2,623$1,897$1,356$1,105
28 years$4,591$3,374$2,439$1,738$1,224$987
29 years$4,385$3,183$2,269$1,594$1,105$883
30 years$4,193$3,006$2,114$1,462$999$790
31 years$4,014$2,842$1,971$1,343$903$708
32 years$3,846$2,689$1,839$1,234$817$634
33 years$3,689$2,546$1,717$1,135$739$568
34 years$3,542$2,413$1,604$1,044$669$509
35 years$3,403$2,289$1,500$961$606$457
36 years$3,272$2,173$1,403$885$549$410
37 years$3,148$2,064$1,313$816$498$368
38 years$3,032$1,961$1,230$752$451$330
39 years$2,921$1,865$1,152$693$409$296
40 years$2,816$1,774$1,080$640$371$266
41 years$2,717$1,689$1,013$590$337$239
42 years$2,623$1,608$950$545$306$214
43 years$2,533$1,533$891$503$277$193
44 years$2,448$1,461$837$464$252$173
45 years$2,366$1,393$786$429$228$155
46 years$2,289$1,329$738$396$207$140
47 years$2,215$1,268$693$366$188$125
48 years$2,144$1,211$651$338$171$113
49 years$2,076$1,156$612$312$155$101
50 years$2,011$1,104$576$289$141$91

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,060,000, adding $6,377 every year, while hoping to spend $41,563 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: 57/30/13 Blend
69$2,060,000$2,060,000$2,060,000$2,060,000
70$2,276,698$2,167,518$2,135,588$2,398,622
71$2,464,698$2,229,504$2,162,907$2,543,812
72$2,670,482$2,293,133$2,189,749$2,696,811
73$2,895,818$2,358,444$2,216,053$2,862,552
74$3,142,657$2,425,473$2,241,756$3,042,263
75$3,413,144$2,494,258$2,266,791$3,237,295
76$3,709,645$2,564,836$2,291,088$3,449,136
77$4,034,761$2,637,246$2,314,572$3,679,422
78$4,391,361$2,711,525$2,337,165$3,929,958
79$4,782,604$2,787,714$2,358,784$4,202,728
80$5,211,969$2,865,851$2,379,342$4,499,919
81$5,683,287$2,945,975$2,398,747$4,823,937
82$6,200,779$3,028,125$2,416,903$5,177,433
83$6,769,097$3,112,342$2,433,707$5,563,328
84$7,393,362$3,198,663$2,449,054$5,984,838
85$8,079,218$3,287,130$2,462,830$6,445,503
86$8,832,880$3,377,782$2,474,916$6,949,226
87$9,661,197$3,470,657$2,485,190$7,500,305
88$10,571,715$3,565,795$2,493,519$8,103,473
89$11,572,746$3,663,234$2,499,768$8,763,947
90$12,673,447$3,763,014$2,503,791$9,487,470
91$13,883,909$3,865,172$2,505,439$10,280,374
92$15,215,247$3,969,745$2,504,551$11,149,631
93$16,679,711$4,076,771$2,500,961$12,102,924
94$18,290,793$4,186,284$2,494,495$13,148,717
95$20,063,363$4,298,321$2,484,970$14,296,337
96$22,013,803$4,412,916$2,472,193$15,556,059
97$24,160,163$4,530,101$2,455,964$16,939,205
98$26,522,332$4,649,908$2,436,071$18,458,249
99$29,122,223$4,772,367$2,412,293$20,126,936
100$31,983,984$4,897,507$2,384,399$21,960,413