Can I retire at age 70 with 940,000?

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 $940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$77,624$76,933$76,258$75,600$74,957$72,442
2 years$38,428$37,712$37,019$36,346$35,694$33,184
3 years$25,364$24,645$23,953$23,287$22,646$20,221
4 years$18,834$18,117$17,432$16,777$16,151$13,830
5 years$14,916$14,204$13,528$12,886$12,278$10,066
6 years$12,305$11,599$10,933$10,305$9,715$7,614
7 years$10,441$9,740$9,085$8,473$7,901$5,911
8 years$9,044$8,349$7,705$7,108$6,555$4,674
9 years$7,958$7,270$6,636$6,054$5,520$3,747
10 years$7,089$6,408$5,786$5,219$4,703$3,035
11 years$6,379$5,704$5,094$4,542$4,045$2,478
12 years$5,788$5,120$4,520$3,984$3,505$2,035
13 years$5,288$4,627$4,039$3,517$3,057$1,681
14 years$4,859$4,206$3,629$3,122$2,679$1,393
15 years$4,489$3,842$3,276$2,784$2,359$1,159
16 years$4,165$3,525$2,970$2,493$2,085$967
17 years$3,879$3,246$2,703$2,240$1,849$808
18 years$3,625$3,000$2,467$2,019$1,644$677
19 years$3,399$2,780$2,259$1,824$1,465$567
20 years$3,195$2,584$2,073$1,652$1,309$477
21 years$3,011$2,406$1,907$1,499$1,171$401
22 years$2,843$2,246$1,757$1,363$1,050$337
23 years$2,691$2,101$1,623$1,242$942$284
24 years$2,552$1,968$1,501$1,132$847$239
25 years$2,423$1,847$1,390$1,034$762$202
26 years$2,305$1,736$1,289$946$687$170
27 years$2,196$1,634$1,197$865$619$143
28 years$2,095$1,540$1,113$793$559$121
29 years$2,001$1,452$1,036$727$504$102
30 years$1,913$1,372$965$667$456$86
31 years$1,832$1,297$899$613$412$73
32 years$1,755$1,227$839$563$373$62
33 years$1,683$1,162$783$518$337$52
34 years$1,616$1,101$732$477$305$44
35 years$1,553$1,045$684$439$277$37
36 years$1,493$991$640$404$251$31
37 years$1,437$942$599$372$227$26
38 years$1,383$895$561$343$206$22
39 years$1,333$851$526$316$187$19
40 years$1,285$810$493$292$169$16
41 years$1,240$771$462$269$154$14
42 years$1,197$734$433$248$139$11
43 years$1,156$699$407$229$127$10
44 years$1,117$667$382$212$115$8
45 years$1,080$636$358$196$104$7
46 years$1,044$606$337$181$95$6
47 years$1,011$579$316$167$86$5
48 years$978$552$297$154$78$4
49 years$947$528$279$143$71$4
50 years$918$504$263$132$64$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $940,000, adding $2,850 every year, while hoping to spend $37,380 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: 74/8/18 Blend
69$940,000$940,000$940,000$940,000
70$1,038,820$989,000$974,430$1,111,156
71$1,105,007$997,689$967,301$1,168,182
72$1,176,693$1,005,551$958,681$1,225,804
73$1,254,399$1,012,505$948,480$1,287,967
74$1,338,697$1,018,468$936,604$1,355,116
75$1,430,219$1,023,348$922,955$1,427,738
76$1,529,658$1,027,049$907,430$1,506,373
77$1,637,777$1,029,468$889,923$1,591,612
78$1,755,415$1,030,496$870,320$1,684,112
79$1,883,495$1,030,018$848,503$1,784,594
80$2,023,034$1,027,912$824,351$1,893,852
81$2,175,150$1,024,046$797,733$2,012,765
82$2,341,073$1,018,282$768,515$2,142,298
83$2,522,158$1,010,473$736,555$2,283,520
84$2,719,896$1,000,464$701,708$2,437,604
85$2,935,929$988,090$663,818$2,605,847
86$3,172,063$973,176$622,725$2,789,678
87$3,430,287$955,535$578,261$2,990,674
88$3,712,793$934,973$530,249$3,210,570
89$4,021,991$911,280$478,506$3,451,282
90$4,360,539$884,237$422,840$3,714,923
91$4,731,360$853,611$363,051$4,003,820
92$5,137,675$819,154$298,929$4,320,541
93$5,583,031$780,606$230,257$4,667,915
94$6,071,335$737,690$156,805$5,049,063
95$6,606,889$690,115$78,336$5,467,425
96$7,194,432$637,572$0$5,926,794
97$7,839,185$579,733$0$6,432,388
98$8,546,896$516,254$0$7,003,903
99$9,323,900$446,771$0$7,631,412
100$10,177,172$370,897$0$8,320,571