Can I retire at age 70 with 598,000?

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 $598,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$49,382$48,942$48,513$48,094$47,685$47,207
2 years$24,447$23,991$23,550$23,122$22,707$22,226
3 years$16,136$15,679$15,238$14,815$14,406$13,936
4 years$11,981$11,525$11,090$10,673$10,275$9,820
5 years$9,489$9,036$8,606$8,198$7,811$7,372
6 years$7,828$7,379$6,955$6,556$6,180$5,759
7 years$6,643$6,197$5,780$5,390$5,026$4,622
8 years$5,754$5,312$4,902$4,522$4,170$3,782
9 years$5,062$4,625$4,222$3,851$3,512$3,141
10 years$4,510$4,076$3,681$3,320$2,992$2,638
11 years$4,058$3,629$3,240$2,889$2,573$2,236
12 years$3,682$3,257$2,876$2,534$2,230$1,909
13 years$3,364$2,944$2,569$2,237$1,945$1,639
14 years$3,091$2,676$2,308$1,986$1,705$1,415
15 years$2,856$2,444$2,084$1,771$1,501$1,226
16 years$2,649$2,243$1,890$1,586$1,326$1,066
17 years$2,468$2,065$1,720$1,425$1,176$930
18 years$2,306$1,908$1,570$1,284$1,046$813
19 years$2,162$1,769$1,437$1,160$932$712
20 years$2,032$1,644$1,319$1,051$833$625
21 years$1,915$1,531$1,213$954$745$550
22 years$1,809$1,429$1,118$867$668$484
23 years$1,712$1,337$1,032$790$599$427
24 years$1,623$1,252$955$720$539$377
25 years$1,542$1,175$884$658$485$333
26 years$1,467$1,105$820$602$437$294
27 years$1,397$1,039$762$551$394$260
28 years$1,333$979$708$504$355$231
29 years$1,273$924$659$463$321$204
30 years$1,217$873$614$425$290$181
31 years$1,165$825$572$390$262$160
32 years$1,117$781$534$358$237$142
33 years$1,071$739$498$330$215$126
34 years$1,028$701$466$303$194$112
35 years$988$665$435$279$176$100
36 years$950$631$407$257$159$88
37 years$914$599$381$237$144$78
38 years$880$569$357$218$131$70
39 years$848$541$334$201$119$62
40 years$818$515$313$186$108$55
41 years$789$490$294$171$98$49
42 years$761$467$276$158$89$43
43 years$735$445$259$146$80$39
44 years$711$424$243$135$73$34
45 years$687$404$228$124$66$31
46 years$664$386$214$115$60$27
47 years$643$368$201$106$55$24
48 years$622$351$189$98$50$21
49 years$603$336$178$91$45$19
50 years$584$321$167$84$41$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $598,000, adding $5,849 every year, while hoping to spend $50,823 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: 63/8/29 Blend
69$598,000$598,000$598,000$598,000
70$665,029$633,335$624,066$701,425
71$678,787$610,293$590,897$703,783
72$692,245$584,419$554,914$700,303
73$705,318$555,520$515,968$695,418
74$717,912$523,392$473,904$689,000
75$729,922$487,821$428,563$680,909
76$741,228$448,578$379,774$670,992
77$751,698$405,424$327,361$659,086
78$761,185$358,103$271,141$645,011
79$769,522$306,347$210,921$628,572
80$776,528$249,872$146,501$609,558
81$781,995$188,378$77,671$587,740
82$785,698$121,547$4,212$562,866
83$787,383$49,047$0$534,666
84$786,768$0$0$525,796
85$783,541$0$0$518,459
86$777,355$0$0$513,361
87$767,827$0$0$505,916
88$754,528$0$0$495,828
89$736,987$0$0$482,767
90$714,680$0$0$466,370
91$687,027$0$0$446,233
92$653,386$0$0$421,909
93$613,047$0$0$392,904
94$565,223$0$0$358,672
95$509,044$0$0$318,607
96$443,550$0$0$272,040
97$367,677$0$0$218,234
98$280,250$0$0$156,370
99$179,970$0$0$85,546
100$65,402$0$0$4,765