Can I retire at age 70 with 985,000?

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 $985,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$81,340$80,616$79,909$79,219$78,545$76,991
2 years$40,268$39,518$38,791$38,086$37,403$35,843
3 years$26,578$25,825$25,100$24,402$23,730$22,214
4 years$19,735$18,984$18,267$17,580$16,924$15,464
5 years$15,630$14,884$14,176$13,503$12,866$11,464
6 years$12,895$12,154$11,456$10,799$10,180$8,840
7 years$10,941$10,207$9,520$8,878$8,279$7,000
8 years$9,477$8,749$8,074$7,448$6,868$5,650
9 years$8,339$7,618$6,954$6,344$5,784$4,626
10 years$7,429$6,715$6,063$5,468$4,928$3,829
11 years$6,684$5,978$5,337$4,759$4,239$3,197
12 years$6,065$5,365$4,737$4,174$3,673$2,688
13 years$5,541$4,849$4,232$3,685$3,203$2,272
14 years$5,092$4,407$3,802$3,271$2,808$1,930
15 years$4,704$4,026$3,433$2,918$2,472$1,645
16 years$4,364$3,694$3,113$2,612$2,185$1,407
17 years$4,065$3,402$2,832$2,347$1,937$1,206
18 years$3,799$3,143$2,586$2,115$1,723$1,036
19 years$3,561$2,913$2,367$1,911$1,535$892
20 years$3,348$2,707$2,172$1,731$1,371$770
21 years$3,155$2,522$1,998$1,571$1,227$665
22 years$2,980$2,354$1,842$1,428$1,100$575
23 years$2,820$2,202$1,700$1,301$987$497
24 years$2,674$2,063$1,573$1,187$888$431
25 years$2,539$1,936$1,456$1,084$799$373
26 years$2,416$1,819$1,351$991$719$324
27 years$2,301$1,712$1,254$907$649$281
28 years$2,195$1,613$1,166$831$585$244
29 years$2,097$1,522$1,085$762$528$212
30 years$2,005$1,437$1,011$699$477$184
31 years$1,919$1,359$942$642$432$160
32 years$1,839$1,286$879$590$391$139
33 years$1,764$1,218$821$543$353$121
34 years$1,693$1,154$767$499$320$105
35 years$1,627$1,095$717$460$290$92
36 years$1,564$1,039$671$423$263$80
37 years$1,505$987$628$390$238$69
38 years$1,450$938$588$360$216$60
39 years$1,397$892$551$332$196$53
40 years$1,347$848$516$306$177$46
41 years$1,299$808$484$282$161$40
42 years$1,254$769$454$260$146$35
43 years$1,211$733$426$240$133$30
44 years$1,170$698$400$222$120$26
45 years$1,131$666$376$205$109$23
46 years$1,094$635$353$189$99$20
47 years$1,059$606$331$175$90$17
48 years$1,025$579$311$162$82$15
49 years$993$553$293$149$74$13
50 years$962$528$275$138$67$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $985,000, adding $3,773 every year, while hoping to spend $53,455 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: 74/6/20 Blend
69$985,000$985,000$985,000$985,000
70$1,089,362$1,037,157$1,021,889$1,164,525
71$1,143,601$1,031,102$999,247$1,208,867
72$1,201,581$1,022,959$974,054$1,250,581
73$1,263,627$1,012,568$946,170$1,294,918
74$1,330,095$999,762$915,445$1,342,127
75$1,401,377$984,363$881,725$1,392,484
76$1,477,902$966,181$844,846$1,446,294
77$1,560,140$945,015$804,641$1,503,893
78$1,648,608$920,655$760,930$1,565,652
79$1,743,874$892,875$713,529$1,631,983
80$1,846,560$861,438$662,244$1,703,338
81$1,957,353$826,091$606,872$1,780,219
82$2,077,003$786,570$547,203$1,863,178
83$2,206,338$742,593$483,015$1,952,826
84$2,346,265$693,861$414,077$2,049,839
85$2,497,784$640,059$340,148$2,154,960
86$2,661,992$580,856$260,977$2,269,013
87$2,840,096$515,899$176,301$2,392,906
88$3,033,425$444,817$85,845$2,527,640
89$3,243,437$367,216$0$2,674,325
90$3,471,740$282,682$0$2,836,461
91$3,720,100$190,775$0$3,032,816
92$3,990,461$91,035$0$3,246,608
93$4,284,963$0$0$3,479,549
94$4,605,959$0$0$3,734,650
95$4,956,041$0$0$4,019,460
96$5,338,060$0$0$4,330,293
97$5,755,154$0$0$4,669,708
98$6,210,780$0$0$5,040,521
99$6,708,740$0$0$5,445,834
100$7,253,223$0$0$5,889,061