Can I retire at age 70 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$244,434$242,257$240,132$238,059$236,035$231,743
2 years$121,007$118,753$116,569$114,451$112,397$108,089
3 years$79,870$77,607$75,428$73,330$71,310$67,119
4 years$59,306$57,049$54,892$52,830$50,859$46,817
5 years$46,970$44,727$42,599$40,579$38,662$34,782
6 years$38,749$36,523$34,426$32,451$30,592$26,878
7 years$32,879$30,672$28,608$26,680$24,879$21,332
8 years$28,479$26,292$24,262$22,381$20,640$17,258
9 years$25,058$22,892$20,897$19,064$17,382$14,164
10 years$22,323$20,178$18,218$16,433$14,810$11,753
11 years$20,087$17,963$16,039$14,302$12,737$9,837
12 years$18,225$16,123$14,234$12,545$11,038$8,291
13 years$16,650$14,570$12,717$11,075$9,625$7,028
14 years$15,302$13,244$11,427$9,831$8,437$5,985
15 years$14,135$12,099$10,317$8,768$7,429$5,116
16 years$13,114$11,100$9,354$7,850$6,566$4,387
17 years$12,214$10,223$8,511$7,054$5,822$3,773
18 years$11,416$9,446$7,770$6,357$5,176$3,251
19 years$10,702$8,755$7,113$5,744$4,614$2,808
20 years$10,060$8,135$6,528$5,202$4,121$2,429
21 years$9,480$7,578$6,004$4,721$3,688$2,104
22 years$8,954$7,074$5,534$4,293$3,306$1,824
23 years$8,474$6,616$5,110$3,909$2,967$1,584
24 years$8,035$6,199$4,726$3,566$2,667$1,376
25 years$7,631$5,817$4,377$3,256$2,400$1,197
26 years$7,260$5,467$4,059$2,977$2,162$1,041
27 years$6,916$5,145$3,769$2,725$1,949$907
28 years$6,597$4,848$3,504$2,497$1,759$790
29 years$6,301$4,574$3,261$2,290$1,588$688
30 years$6,025$4,319$3,037$2,101$1,435$600
31 years$5,768$4,083$2,832$1,930$1,297$524
32 years$5,527$3,864$2,642$1,774$1,173$457
33 years$5,301$3,659$2,467$1,631$1,062$399
34 years$5,089$3,468$2,305$1,501$962$348
35 years$4,889$3,289$2,155$1,382$871$304
36 years$4,701$3,122$2,016$1,272$789$265
37 years$4,524$2,965$1,887$1,172$715$232
38 years$4,356$2,818$1,767$1,081$648$202
39 years$4,197$2,680$1,655$996$588$177
40 years$4,047$2,549$1,552$919$533$154
41 years$3,904$2,427$1,455$848$484$135
42 years$3,769$2,311$1,365$782$439$118
43 years$3,640$2,202$1,281$722$398$103
44 years$3,517$2,099$1,202$667$362$90
45 years$3,400$2,002$1,129$616$328$79
46 years$3,288$1,909$1,060$569$298$69
47 years$3,182$1,822$996$526$271$60
48 years$3,080$1,740$936$486$246$52
49 years$2,983$1,661$880$449$223$46
50 years$2,890$1,587$827$415$203$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,960,000, adding $5,686 every year, while hoping to spend $24,207 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: 58/34/8 Blend
69$2,960,000$2,960,000$2,960,000$2,960,000
70$3,267,785$3,110,905$3,065,025$3,451,129
71$3,575,343$3,237,583$3,141,947$3,701,731
72$3,913,461$3,369,658$3,220,635$3,971,517
73$4,285,230$3,507,367$3,301,122$4,264,973
74$4,694,055$3,650,960$3,383,442$4,584,366
75$5,143,691$3,800,699$3,467,630$4,932,192
76$5,638,271$3,956,857$3,553,719$5,311,193
77$6,182,351$4,119,719$3,641,745$5,724,385
78$6,780,950$4,289,584$3,731,742$6,175,088
79$7,439,598$4,466,765$3,823,747$6,666,948
80$8,164,388$4,651,588$3,917,793$7,203,981
81$8,962,034$4,844,394$4,013,918$7,790,603
82$9,839,934$5,045,542$4,112,156$8,431,672
83$10,806,238$5,255,404$4,212,545$9,132,534
84$11,869,928$5,474,373$4,315,119$9,899,073
85$13,040,901$5,702,857$4,419,915$10,737,763
86$14,330,060$5,941,285$4,526,970$11,655,729
87$15,749,422$6,190,103$4,636,319$12,660,814
88$17,312,226$6,449,781$4,747,998$13,761,651
89$19,033,061$6,720,808$4,862,044$14,967,742
90$20,928,004$7,003,698$4,978,493$16,289,548
91$23,014,768$7,298,987$5,097,381$17,738,587
92$25,312,873$7,607,237$5,218,742$19,327,537
93$27,843,830$7,929,035$5,342,613$21,070,359
94$30,631,338$8,264,996$5,469,029$22,982,425
95$33,701,517$8,615,763$5,598,024$25,080,660
96$37,083,146$8,982,010$5,729,632$27,383,703
97$40,807,940$9,364,441$5,863,887$29,912,079
98$44,910,846$9,763,794$6,000,823$32,688,390
99$49,430,373$10,180,841$6,140,472$35,737,529
100$54,408,959$10,616,390$6,282,866$39,086,909