Can I retire at age 70 with 988,000?

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 $988,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$81,588$80,861$80,152$79,460$78,785$77,832
2 years$40,390$39,638$38,909$38,202$37,516$36,558
3 years$26,659$25,904$25,177$24,476$23,802$22,867
4 years$19,795$19,042$18,322$17,634$16,976$16,072
5 years$15,678$14,929$14,219$13,545$12,905$12,035
6 years$12,934$12,191$11,491$10,832$10,211$9,375
7 years$10,975$10,238$9,549$8,905$8,304$7,504
8 years$9,506$8,776$8,098$7,470$6,889$6,123
9 years$8,364$7,641$6,975$6,363$5,802$5,070
10 years$7,451$6,735$6,081$5,485$4,943$4,246
11 years$6,705$5,996$5,354$4,774$4,251$3,588
12 years$6,083$5,382$4,751$4,187$3,684$3,053
13 years$5,558$4,863$4,245$3,697$3,213$2,613
14 years$5,108$4,421$3,814$3,281$2,816$2,248
15 years$4,718$4,038$3,444$2,926$2,480$1,941
16 years$4,377$3,705$3,122$2,620$2,192$1,682
17 years$4,077$3,412$2,841$2,354$1,943$1,462
18 years$3,810$3,153$2,593$2,122$1,728$1,274
19 years$3,572$2,922$2,374$1,917$1,540$1,112
20 years$3,358$2,715$2,179$1,736$1,376$973
21 years$3,164$2,529$2,004$1,576$1,231$852
22 years$2,989$2,361$1,847$1,433$1,103$748
23 years$2,829$2,208$1,706$1,305$990$657
24 years$2,682$2,069$1,577$1,190$890$577
25 years$2,547$1,942$1,461$1,087$801$508
26 years$2,423$1,825$1,355$994$722$447
27 years$2,308$1,717$1,258$910$651$394
28 years$2,202$1,618$1,170$833$587$348
29 years$2,103$1,527$1,088$764$530$307
30 years$2,011$1,442$1,014$701$479$271
31 years$1,925$1,363$945$644$433$239
32 years$1,845$1,290$882$592$392$211
33 years$1,769$1,221$823$544$354$187
34 years$1,699$1,158$769$501$321$165
35 years$1,632$1,098$719$461$291$146
36 years$1,569$1,042$673$425$263$129
37 years$1,510$990$630$391$239$114
38 years$1,454$941$590$361$216$101
39 years$1,401$894$553$333$196$89
40 years$1,351$851$518$307$178$79
41 years$1,303$810$486$283$161$70
42 years$1,258$771$456$261$147$62
43 years$1,215$735$427$241$133$55
44 years$1,174$701$401$223$121$48
45 years$1,135$668$377$206$110$43
46 years$1,098$637$354$190$100$38
47 years$1,062$608$332$175$90$34
48 years$1,028$581$312$162$82$30
49 years$996$554$294$150$75$26
50 years$965$530$276$138$68$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $988,000, adding $3,162 every year, while hoping to spend $41,923 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: 38/41/21 Blend
69$988,000$988,000$988,000$988,000
70$1,092,038$1,039,674$1,024,360$1,126,562
71$1,158,820$1,046,012$1,014,070$1,158,174
72$1,231,008$1,051,256$1,002,030$1,188,139
73$1,309,111$1,055,307$988,138$1,219,668
74$1,393,685$1,058,062$972,286$1,252,927
75$1,485,344$1,059,410$954,360$1,288,101
76$1,584,761$1,059,233$934,243$1,325,395
77$1,692,678$1,057,407$911,812$1,365,041
78$1,809,910$1,053,798$886,936$1,407,294
79$1,937,354$1,048,267$859,482$1,452,440
80$2,075,997$1,040,665$829,307$1,500,798
81$2,226,923$1,030,832$796,263$1,552,721
82$2,391,328$1,018,602$760,197$1,608,606
83$2,570,526$1,003,796$720,946$1,668,891
84$2,765,964$986,226$678,342$1,734,063
85$2,979,233$965,692$632,207$1,804,666
86$3,212,087$941,983$582,358$1,881,303
87$3,466,454$914,875$528,602$1,964,643
88$3,744,459$884,131$470,737$2,055,431
89$4,048,441$849,499$408,553$2,154,492
90$4,380,972$810,715$341,830$2,262,743
91$4,744,889$767,498$270,339$2,381,201
92$5,143,313$719,551$193,841$2,510,992
93$5,579,681$666,559$112,084$2,653,368
94$6,057,779$608,191$24,810$2,809,714
95$6,581,775$544,095$0$2,981,566
96$7,156,261$473,901$0$3,185,936
97$7,786,294$397,216$0$3,416,326
98$8,477,443$313,627$0$3,669,325
99$9,235,844$222,695$0$3,947,314
100$10,068,252$123,960$0$4,252,922