Can I retire at age 70 with 624,000?

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 $624,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$51,529$51,070$50,623$50,185$49,759$48,301
2 years$25,510$25,034$24,574$24,128$23,695$22,238
3 years$16,837$16,360$15,901$15,459$15,033$13,623
4 years$12,502$12,027$11,572$11,137$10,722$9,369
5 years$9,902$9,429$8,980$8,554$8,150$6,859
6 years$8,169$7,699$7,257$6,841$6,449$5,220
7 years$6,931$6,466$6,031$5,624$5,245$4,078
8 years$6,004$5,543$5,115$4,718$4,351$3,246
9 years$5,283$4,826$4,405$4,019$3,664$2,619
10 years$4,706$4,254$3,841$3,464$3,122$2,136
11 years$4,235$3,787$3,381$3,015$2,685$1,756
12 years$3,842$3,399$3,001$2,645$2,327$1,453
13 years$3,510$3,072$2,681$2,335$2,029$1,209
14 years$3,226$2,792$2,409$2,073$1,779$1,010
15 years$2,980$2,551$2,175$1,848$1,566$847
16 years$2,765$2,340$1,972$1,655$1,384$712
17 years$2,575$2,155$1,794$1,487$1,227$600
18 years$2,407$1,991$1,638$1,340$1,091$506
19 years$2,256$1,846$1,499$1,211$973$428
20 years$2,121$1,715$1,376$1,097$869$363
21 years$1,999$1,597$1,266$995$777$307
22 years$1,888$1,491$1,167$905$697$261
23 years$1,786$1,395$1,077$824$626$222
24 years$1,694$1,307$996$752$562$188
25 years$1,609$1,226$923$686$506$160
26 years$1,530$1,153$856$628$456$136
27 years$1,458$1,085$795$575$411$116
28 years$1,391$1,022$739$526$371$99
29 years$1,328$964$687$483$335$84
30 years$1,270$911$640$443$302$72
31 years$1,216$861$597$407$273$61
32 years$1,165$814$557$374$247$52
33 years$1,117$771$520$344$224$44
34 years$1,073$731$486$316$203$38
35 years$1,031$693$454$291$184$32
36 years$991$658$425$268$166$28
37 years$954$625$398$247$151$23
38 years$918$594$372$228$137$20
39 years$885$565$349$210$124$17
40 years$853$537$327$194$112$15
41 years$823$512$307$179$102$12
42 years$794$487$288$165$93$11
43 years$767$464$270$152$84$9
44 years$741$443$253$141$76$8
45 years$717$422$238$130$69$7
46 years$693$403$223$120$63$6
47 years$671$384$210$111$57$5
48 years$649$367$197$102$52$4
49 years$629$350$185$95$47$3
50 years$609$335$174$87$43$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $624,000, adding $4,031 every year, while hoping to spend $23,017 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: 66/24/10 Blend
69$624,000$624,000$624,000$624,000
70$691,806$658,734$649,062$735,745
71$737,880$666,522$646,316$773,294
72$787,883$673,920$642,706$811,215
73$842,190$680,885$638,179$852,065
74$901,215$687,371$632,681$896,127
75$965,415$693,327$626,151$943,715
76$1,035,289$698,703$618,529$995,174
77$1,111,390$703,440$609,751$1,050,884
78$1,194,324$707,481$599,750$1,111,263
79$1,284,758$710,761$588,455$1,176,776
80$1,383,429$713,214$575,793$1,247,931
81$1,491,144$714,766$561,688$1,325,291
82$1,608,793$715,343$546,057$1,409,477
83$1,737,358$714,863$528,818$1,501,172
84$1,877,918$713,240$509,883$1,601,130
85$2,031,660$710,383$489,158$1,710,184
86$2,199,893$706,195$466,548$1,829,250
87$2,384,057$700,574$441,953$1,959,340
88$2,585,739$693,410$415,266$2,101,570
89$2,806,685$684,588$386,379$2,257,170
90$3,048,820$673,986$355,175$2,427,497
91$3,314,262$661,474$321,536$2,614,046
92$3,605,344$646,914$285,335$2,818,467
93$3,924,637$630,161$246,442$3,042,580
94$4,274,972$611,060$204,720$3,288,391
95$4,659,467$589,450$160,026$3,558,112
96$5,081,556$565,157$112,210$3,854,182
97$5,545,024$537,998$61,118$4,179,291
98$6,054,037$507,781$6,586$4,536,406
99$6,613,188$474,301$0$4,928,796
100$7,227,533$437,342$0$5,365,575