Can I retire at age 70 with 697,000?

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 $697,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$57,558$57,045$56,545$56,056$55,580$53,438
2 years$28,494$27,963$27,449$26,950$26,467$24,334
3 years$18,807$18,274$17,761$17,267$16,791$14,736
4 years$13,965$13,434$12,926$12,440$11,976$10,012
5 years$11,060$10,532$10,031$9,555$9,104$7,238
6 years$9,124$8,600$8,106$7,641$7,204$5,436
7 years$7,742$7,222$6,736$6,282$5,858$4,189
8 years$6,706$6,191$5,713$5,270$4,860$3,287
9 years$5,901$5,390$4,921$4,489$4,093$2,614
10 years$5,257$4,751$4,290$3,870$3,487$2,100
11 years$4,730$4,230$3,777$3,368$2,999$1,700
12 years$4,291$3,796$3,352$2,954$2,599$1,384
13 years$3,921$3,431$2,995$2,608$2,266$1,133
14 years$3,603$3,119$2,691$2,315$1,987$931
15 years$3,328$2,849$2,429$2,065$1,749$767
16 years$3,088$2,614$2,203$1,849$1,546$634
17 years$2,876$2,407$2,004$1,661$1,371$525
18 years$2,688$2,224$1,830$1,497$1,219$435
19 years$2,520$2,062$1,675$1,353$1,086$361
20 years$2,369$1,916$1,537$1,225$970$300
21 years$2,232$1,784$1,414$1,112$868$250
22 years$2,108$1,666$1,303$1,011$778$208
23 years$1,995$1,558$1,203$921$699$174
24 years$1,892$1,460$1,113$840$628$145
25 years$1,797$1,370$1,031$767$565$121
26 years$1,709$1,287$956$701$509$101
27 years$1,628$1,212$888$642$459$84
28 years$1,553$1,142$825$588$414$70
29 years$1,484$1,077$768$539$374$59
30 years$1,419$1,017$715$495$338$49
31 years$1,358$962$667$454$305$41
32 years$1,301$910$622$418$276$34
33 years$1,248$862$581$384$250$29
34 years$1,198$817$543$353$226$24
35 years$1,151$775$507$325$205$20
36 years$1,107$735$475$300$186$17
37 years$1,065$698$444$276$168$14
38 years$1,026$664$416$254$153$12
39 years$988$631$390$235$138$10
40 years$953$600$365$216$126$8
41 years$919$571$343$200$114$7
42 years$887$544$321$184$103$6
43 years$857$519$302$170$94$5
44 years$828$494$283$157$85$4
45 years$801$471$266$145$77$3
46 years$774$450$250$134$70$3
47 years$749$429$235$124$64$2
48 years$725$410$220$114$58$2
49 years$702$391$207$106$53$2
50 years$681$374$195$98$48$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $697,000, adding $6,631 every year, while hoping to spend $21,867 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: 49/38/13 Blend
69$697,000$697,000$697,000$697,000
70$774,934$737,993$727,189$809,830
71$830,711$750,888$728,284$847,432
72$891,444$763,683$728,682$885,434
73$957,616$776,348$728,338$926,223
74$1,029,758$788,854$727,202$970,068
75$1,108,454$801,168$725,224$1,017,264
76$1,194,347$813,257$722,350$1,068,138
77$1,288,146$825,081$718,524$1,123,049
78$1,390,629$836,603$713,687$1,182,395
79$1,502,655$847,778$707,777$1,246,614
80$1,625,169$858,562$700,730$1,316,189
81$1,759,210$868,905$692,479$1,391,653
82$1,905,923$878,755$682,951$1,473,595
83$2,066,571$888,058$672,073$1,562,664
84$2,242,541$896,753$659,768$1,659,574
85$2,435,363$904,777$645,953$1,765,117
86$2,646,722$912,063$630,544$1,880,163
87$2,878,473$918,539$613,453$2,005,674
88$3,132,658$924,128$594,584$2,142,710
89$3,411,529$928,750$573,842$2,292,441
90$3,717,563$932,317$551,125$2,456,156
91$4,053,492$934,738$526,325$2,635,281
92$4,422,323$935,915$499,331$2,831,384
93$4,827,369$935,744$470,028$3,046,198
94$5,272,280$934,114$438,293$3,281,633
95$5,761,076$930,909$403,999$3,539,797
96$6,298,186$926,005$367,013$3,823,014
97$6,888,490$919,268$327,197$4,133,848
98$7,537,364$910,560$284,406$4,475,126
99$8,250,729$899,732$238,488$4,849,967
100$9,035,112$886,627$189,286$5,261,811