Can I retire at age 70 with 2,920,000?

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$241,131$238,983$236,887$234,842$232,845$231,572
2 years$119,372$117,149$114,994$112,905$110,879$109,594
3 years$78,791$76,558$74,409$72,339$70,346$69,089
4 years$58,504$56,278$54,150$52,116$50,171$48,953
5 years$46,335$44,123$42,023$40,030$38,139$36,962
6 years$38,225$36,030$33,961$32,013$30,178$29,044
7 years$32,435$30,258$28,222$26,319$24,543$23,453
8 years$28,094$25,936$23,934$22,079$20,361$19,314
9 years$24,720$22,582$20,614$18,806$17,147$16,144
10 years$22,022$19,905$17,972$16,211$14,610$13,650
11 years$19,816$17,720$15,822$14,108$12,565$11,647
12 years$17,979$15,905$14,042$12,375$10,889$10,012
13 years$16,425$14,373$12,546$10,925$9,495$8,659
14 years$15,095$13,065$11,272$9,698$8,323$7,527
15 years$13,944$11,935$10,177$8,649$7,329$6,571
16 years$12,937$10,950$9,227$7,744$6,477$5,757
17 years$12,049$10,085$8,396$6,958$5,743$5,060
18 years$11,261$9,319$7,665$6,271$5,106$4,458
19 years$10,557$8,637$7,017$5,666$4,551$3,938
20 years$9,924$8,025$6,440$5,132$4,065$3,485
21 years$9,352$7,475$5,923$4,657$3,638$3,089
22 years$8,833$6,978$5,459$4,235$3,261$2,743
23 years$8,360$6,526$5,041$3,857$2,927$2,438
24 years$7,926$6,115$4,662$3,517$2,631$2,170
25 years$7,528$5,738$4,318$3,212$2,368$1,933
26 years$7,161$5,393$4,004$2,937$2,133$1,724
27 years$6,822$5,076$3,718$2,688$1,923$1,539
28 years$6,508$4,783$3,457$2,463$1,735$1,374
29 years$6,216$4,512$3,217$2,259$1,567$1,228
30 years$5,944$4,261$2,996$2,073$1,416$1,098
31 years$5,690$4,028$2,793$1,904$1,280$983
32 years$5,452$3,811$2,606$1,750$1,158$880
33 years$5,229$3,609$2,434$1,609$1,048$788
34 years$5,020$3,421$2,274$1,480$949$705
35 years$4,823$3,245$2,126$1,363$859$632
36 years$4,638$3,080$1,989$1,255$778$567
37 years$4,463$2,925$1,861$1,156$706$508
38 years$4,297$2,780$1,743$1,066$640$455
39 years$4,140$2,643$1,633$983$580$408
40 years$3,992$2,515$1,531$907$526$366
41 years$3,851$2,394$1,435$836$477$329
42 years$3,718$2,280$1,346$772$433$295
43 years$3,590$2,172$1,263$713$393$265
44 years$3,469$2,071$1,186$658$357$238
45 years$3,354$1,975$1,113$608$324$213
46 years$3,244$1,884$1,046$561$294$191
47 years$3,139$1,798$983$519$267$172
48 years$3,039$1,716$923$479$243$154
49 years$2,943$1,639$868$443$220$139
50 years$2,851$1,565$816$409$200$124

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,920,000, adding $5,855 every year, while hoping to spend $48,913 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: 56/32/12 Blend
69$2,920,000$2,920,000$2,920,000$2,920,000
70$3,223,879$3,069,119$3,023,859$3,394,318
71$3,500,672$3,167,463$3,073,116$3,608,715
72$3,804,058$3,268,987$3,122,383$3,836,256
73$4,136,699$3,373,793$3,171,609$4,082,951
74$4,501,524$3,481,992$3,220,740$4,350,640
75$4,901,763$3,593,692$3,269,718$4,641,343
76$5,340,970$3,709,011$3,318,481$4,957,287
77$5,823,062$3,828,065$3,366,963$5,300,919
78$6,352,352$3,950,978$3,415,095$5,674,936
79$6,933,594$4,077,878$3,462,802$6,082,302
80$7,572,021$4,208,894$3,510,006$6,526,283
81$8,273,400$4,344,163$3,556,624$7,010,474
82$9,044,085$4,483,825$3,602,569$7,538,830
83$9,891,073$4,628,024$3,647,747$8,115,708
84$10,822,076$4,776,911$3,692,060$8,745,906
85$11,845,588$4,930,640$3,735,404$9,434,703
86$12,970,967$5,089,370$3,777,669$10,187,916
87$14,208,525$5,253,268$3,818,740$11,011,948
88$15,569,620$5,422,504$3,858,494$11,913,854
89$17,066,770$5,597,256$3,896,802$12,901,400
90$18,713,764$5,777,705$3,933,529$13,983,142
91$20,525,797$5,964,041$3,968,530$15,168,500
92$22,519,608$6,156,459$4,001,656$16,467,855
93$24,713,644$6,355,162$4,032,748$17,892,636
94$27,128,229$6,560,357$4,061,637$19,455,436
95$29,785,755$6,772,262$4,088,149$21,170,126
96$32,710,898$6,991,099$4,112,098$23,051,985
97$35,930,846$7,217,099$4,133,290$25,117,845
98$39,475,557$7,450,501$4,151,520$27,386,248
99$43,378,041$7,691,553$4,166,573$29,877,623
100$47,674,672$7,940,510$4,178,224$32,614,475