Can I retire at age 70 with 981,000?

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 $981,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$81,010$80,288$79,584$78,897$78,226$77,733
2 years$40,104$39,357$38,633$37,931$37,251$36,753
3 years$26,470$25,720$24,998$24,303$23,633$23,147
4 years$19,655$18,907$18,192$17,509$16,855$16,384
5 years$15,567$14,823$14,118$13,449$12,813$12,358
6 years$12,842$12,104$11,409$10,755$10,139$9,700
7 years$10,897$10,165$9,481$8,842$8,245$7,824
8 years$9,438$8,714$8,041$7,418$6,840$6,436
9 years$8,305$7,587$6,926$6,318$5,761$5,373
10 years$7,398$6,687$6,038$5,446$4,908$4,538
11 years$6,657$5,953$5,316$4,740$4,221$3,867
12 years$6,040$5,343$4,718$4,157$3,658$3,320
13 years$5,518$4,829$4,215$3,670$3,190$2,868
14 years$5,071$4,389$3,787$3,258$2,796$2,490
15 years$4,684$4,010$3,419$2,906$2,462$2,171
16 years$4,346$3,679$3,100$2,602$2,176$1,899
17 years$4,048$3,388$2,821$2,338$1,929$1,667
18 years$3,783$3,131$2,575$2,107$1,716$1,467
19 years$3,547$2,902$2,357$1,904$1,529$1,294
20 years$3,334$2,696$2,163$1,724$1,366$1,143
21 years$3,142$2,511$1,990$1,565$1,222$1,012
22 years$2,968$2,344$1,834$1,423$1,096$897
23 years$2,808$2,193$1,693$1,296$983$796
24 years$2,663$2,054$1,566$1,182$884$708
25 years$2,529$1,928$1,451$1,079$795$629
26 years$2,406$1,812$1,345$987$716$560
27 years$2,292$1,705$1,249$903$646$499
28 years$2,186$1,607$1,161$828$583$445
29 years$2,088$1,516$1,081$759$526$397
30 years$1,997$1,432$1,007$696$476$355
31 years$1,912$1,353$938$640$430$317
32 years$1,832$1,280$876$588$389$283
33 years$1,757$1,213$818$541$352$253
34 years$1,687$1,149$764$497$319$226
35 years$1,620$1,090$714$458$289$202
36 years$1,558$1,035$668$422$262$181
37 years$1,499$983$625$389$237$162
38 years$1,444$934$586$358$215$145
39 years$1,391$888$549$330$195$130
40 years$1,341$845$514$305$177$116
41 years$1,294$804$482$281$160$104
42 years$1,249$766$452$259$146$93
43 years$1,206$730$424$239$132$84
44 years$1,166$696$398$221$120$75
45 years$1,127$663$374$204$109$67
46 years$1,090$633$351$189$99$60
47 years$1,055$604$330$174$90$54
48 years$1,021$577$310$161$81$48
49 years$989$551$292$149$74$43
50 years$958$526$274$138$67$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $981,000, adding $2,329 every year, while hoping to spend $45,023 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: 83/7/10 Blend
69$981,000$981,000$981,000$981,000
70$1,083,464$1,031,471$1,016,266$1,171,554
71$1,146,074$1,034,109$1,002,407$1,232,181
72$1,213,560$1,035,368$986,574$1,292,503
73$1,286,374$1,035,131$968,655$1,357,375
74$1,365,008$1,033,277$948,530$1,427,230
75$1,450,008$1,029,677$926,074$1,502,542
76$1,541,969$1,024,191$901,158$1,583,834
77$1,641,549$1,016,675$873,645$1,671,681
78$1,749,467$1,006,973$843,393$1,766,717
79$1,866,519$994,920$810,252$1,869,640
80$1,993,576$980,343$774,068$1,981,221
81$2,131,597$963,057$734,676$2,102,306
82$2,281,640$942,866$691,907$2,233,829
83$2,444,864$919,564$645,583$2,376,819
84$2,622,548$892,930$595,518$2,532,410
85$2,816,097$862,733$541,517$2,701,850
86$3,027,059$828,727$483,378$2,886,515
87$3,257,136$790,652$420,888$3,087,923
88$3,508,202$748,232$353,826$3,307,744
89$3,782,321$701,177$281,962$3,547,821
90$4,081,763$649,180$205,052$3,810,183
91$4,409,027$591,914$122,846$4,097,066
92$4,766,866$529,037$35,080$4,410,936
93$5,158,311$460,184$0$4,754,511
94$5,586,698$384,972$0$5,137,034
95$6,055,701$302,996$0$5,559,956
96$6,569,366$213,826$0$6,023,198
97$7,132,148$117,010$0$6,530,804
98$7,748,954$12,070$0$7,087,226
99$8,425,188$0$0$7,697,369
100$9,166,801$0$0$8,374,457