Can I retire at age 70 with 893,000?

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 $893,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$73,743$73,086$72,445$71,820$71,209$70,731
2 years$36,506$35,827$35,168$34,529$33,909$33,427
3 years$24,096$23,413$22,756$22,123$21,513$21,042
4 years$17,892$17,211$16,560$15,938$15,343$14,886
5 years$14,170$13,494$12,852$12,242$11,664$11,223
6 years$11,690$11,019$10,386$9,790$9,229$8,804
7 years$9,919$9,253$8,631$8,049$7,506$7,098
8 years$8,592$7,932$7,320$6,752$6,227$5,835
9 years$7,560$6,906$6,304$5,751$5,244$4,869
10 years$6,735$6,087$5,496$4,958$4,468$4,109
11 years$6,060$5,419$4,839$4,315$3,843$3,500
12 years$5,498$4,864$4,294$3,785$3,330$3,003
13 years$5,023$4,396$3,837$3,341$2,904$2,592
14 years$4,616$3,996$3,447$2,966$2,545$2,249
15 years$4,264$3,650$3,112$2,645$2,241$1,959
16 years$3,956$3,349$2,822$2,368$1,981$1,713
17 years$3,685$3,084$2,568$2,128$1,756$1,502
18 years$3,444$2,850$2,344$1,918$1,562$1,321
19 years$3,229$2,641$2,146$1,733$1,392$1,164
20 years$3,035$2,454$1,969$1,569$1,243$1,028
21 years$2,860$2,286$1,811$1,424$1,113$909
22 years$2,701$2,134$1,670$1,295$997$806
23 years$2,557$1,996$1,542$1,179$895$715
24 years$2,424$1,870$1,426$1,076$805$635
25 years$2,302$1,755$1,320$982$724$564
26 years$2,190$1,649$1,225$898$652$502
27 years$2,086$1,552$1,137$822$588$447
28 years$1,990$1,463$1,057$753$531$398
29 years$1,901$1,380$984$691$479$355
30 years$1,818$1,303$916$634$433$317
31 years$1,740$1,232$854$582$391$283
32 years$1,667$1,166$797$535$354$252
33 years$1,599$1,104$744$492$320$225
34 years$1,535$1,046$695$453$290$201
35 years$1,475$992$650$417$263$180
36 years$1,418$942$608$384$238$161
37 years$1,365$895$569$354$216$144
38 years$1,314$850$533$326$196$129
39 years$1,266$808$499$301$177$115
40 years$1,221$769$468$277$161$103
41 years$1,178$732$439$256$146$92
42 years$1,137$697$412$236$132$83
43 years$1,098$664$386$218$120$74
44 years$1,061$633$363$201$109$66
45 years$1,026$604$341$186$99$59
46 years$992$576$320$172$90$53
47 years$960$550$300$159$82$47
48 years$929$525$282$147$74$43
49 years$900$501$265$135$67$38
50 years$872$479$250$125$61$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $893,000, adding $6,114 every year, while hoping to spend $58,331 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: 41/42/17 Blend
69$893,000$893,000$893,000$893,000
70$990,393$943,064$929,222$1,025,804
71$1,029,349$927,210$898,287$1,035,641
72$1,070,324$908,625$864,361$1,040,139
73$1,113,461$887,112$827,282$1,043,774
74$1,158,919$862,465$786,880$1,046,497
75$1,206,868$834,465$742,980$1,048,258
76$1,257,494$802,879$695,395$1,049,006
77$1,311,001$767,463$643,934$1,048,692
78$1,367,611$727,956$588,394$1,047,266
79$1,427,566$684,085$528,564$1,044,680
80$1,491,131$635,559$464,224$1,040,886
81$1,558,596$582,070$395,144$1,035,841
82$1,630,275$523,294$321,085$1,029,501
83$1,706,517$458,889$241,794$1,021,829
84$1,787,698$388,491$157,011$1,012,790
85$1,874,234$311,718$66,461$1,002,354
86$1,966,579$228,165$0$990,499
87$2,065,229$137,405$0$982,681
88$2,170,731$38,986$0$986,642
89$2,283,682$0$0$990,374
90$2,404,738$0$0$1,025,178
91$2,534,617$0$0$1,081,928
92$2,674,108$0$0$1,142,960
93$2,824,077$0$0$1,208,664
94$2,985,476$0$0$1,279,467
95$3,159,348$0$0$1,355,838
96$3,346,839$0$0$1,438,295
97$3,549,209$0$0$1,527,402
98$3,767,842$0$0$1,623,785
99$4,004,259$0$0$1,728,127
100$4,260,132$0$0$1,841,181