Can I retire at age 70 with 993,000?

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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$82,001$81,271$80,558$79,862$79,183$78,129
2 years$40,595$39,839$39,106$38,395$37,706$36,646
3 years$26,794$26,035$25,304$24,600$23,922$22,889
4 years$19,895$19,138$18,415$17,723$17,062$16,063
5 years$15,757$15,005$14,291$13,613$12,970$12,009
6 years$12,999$12,253$11,549$10,886$10,263$9,340
7 years$11,030$10,290$9,597$8,950$8,346$7,463
8 years$9,554$8,820$8,139$7,508$6,924$6,080
9 years$8,406$7,680$7,010$6,395$5,831$5,025
10 years$7,489$6,769$6,112$5,513$4,968$4,201
11 years$6,739$6,026$5,381$4,798$4,273$3,543
12 years$6,114$5,409$4,775$4,208$3,703$3,009
13 years$5,586$4,888$4,266$3,715$3,229$2,571
14 years$5,133$4,443$3,833$3,298$2,831$2,207
15 years$4,742$4,059$3,461$2,941$2,492$1,902
16 years$4,399$3,724$3,138$2,634$2,203$1,645
17 years$4,098$3,429$2,855$2,366$1,953$1,426
18 years$3,830$3,169$2,607$2,132$1,737$1,240
19 years$3,590$2,937$2,386$1,927$1,548$1,080
20 years$3,375$2,729$2,190$1,745$1,383$943
21 years$3,180$2,542$2,014$1,584$1,237$824
22 years$3,004$2,373$1,857$1,440$1,109$721
23 years$2,843$2,219$1,714$1,312$995$632
24 years$2,695$2,079$1,585$1,196$895$554
25 years$2,560$1,951$1,468$1,092$805$487
26 years$2,435$1,834$1,362$999$725$428
27 years$2,320$1,726$1,265$914$654$376
28 years$2,213$1,626$1,176$838$590$331
29 years$2,114$1,534$1,094$768$533$291
30 years$2,021$1,449$1,019$705$481$256
31 years$1,935$1,370$950$647$435$226
32 years$1,854$1,296$886$595$394$199
33 years$1,778$1,227$828$547$356$175
34 years$1,707$1,163$773$503$323$155
35 years$1,640$1,103$723$463$292$136
36 years$1,577$1,047$676$427$265$120
37 years$1,518$995$633$393$240$106
38 years$1,461$945$593$362$218$94
39 years$1,408$899$555$334$197$83
40 years$1,358$855$521$308$179$73
41 years$1,310$814$488$284$162$64
42 years$1,264$775$458$262$147$57
43 years$1,221$739$430$242$134$50
44 years$1,180$704$403$224$121$44
45 years$1,141$671$379$207$110$39
46 years$1,103$641$356$191$100$35
47 years$1,067$611$334$176$91$30
48 years$1,033$584$314$163$82$27
49 years$1,001$557$295$151$75$24
50 years$970$532$277$139$68$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $993,000, adding $3,757 every year, while hoping to spend $52,386 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: 54/25/21 Blend
69$993,000$993,000$993,000$993,000
70$1,098,161$1,045,532$1,030,141$1,150,973
71$1,154,436$1,041,025$1,008,912$1,183,105
72$1,214,694$1,034,541$985,217$1,212,251
73$1,279,288$1,025,929$958,916$1,242,857
74$1,348,602$1,015,026$929,867$1,275,079
75$1,423,059$1,001,662$897,917$1,309,092
76$1,503,123$985,656$862,910$1,345,088
77$1,589,303$966,815$824,679$1,383,287
78$1,682,159$944,936$783,053$1,423,929
79$1,782,305$919,803$737,851$1,467,284
80$1,890,416$891,189$688,884$1,513,654
81$2,007,232$858,851$635,956$1,563,375
82$2,133,570$822,535$578,861$1,616,818
83$2,270,325$781,970$517,383$1,674,401
84$2,418,481$736,870$451,298$1,736,585
85$2,579,122$686,932$380,373$1,803,885
86$2,753,438$631,837$304,360$1,876,872
87$2,942,738$571,246$223,006$1,956,182
88$3,148,462$504,803$136,042$2,042,520
89$3,372,196$432,129$43,190$2,136,670
90$3,615,683$352,825$0$2,239,502
91$3,880,840$266,471$0$2,364,506
92$4,169,778$172,621$0$2,511,369
93$4,484,820$70,805$0$2,671,663
94$4,828,524$0$0$2,846,777
95$5,203,701$0$0$3,049,109
96$5,613,451$0$0$3,291,446
97$6,061,183$0$0$3,556,339
98$6,550,651$0$0$3,846,019
99$7,085,989$0$0$4,162,945
100$7,671,747$0$0$4,509,824