Can I retire at age 70 with 994,000?

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 $994,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$82,084$81,352$80,639$79,943$79,263$78,599
2 years$40,635$39,879$39,145$38,434$37,744$37,075
3 years$26,821$26,061$25,330$24,625$23,947$23,293
4 years$19,915$19,158$18,433$17,741$17,079$16,446
5 years$15,773$15,020$14,305$13,627$12,983$12,372
6 years$13,012$12,265$11,561$10,897$10,273$9,685
7 years$11,041$10,300$9,607$8,959$8,355$7,791
8 years$9,564$8,829$8,147$7,516$6,931$6,390
9 years$8,415$7,687$7,017$6,402$5,837$5,319
10 years$7,496$6,776$6,118$5,518$4,973$4,479
11 years$6,745$6,032$5,386$4,803$4,277$3,805
12 years$6,120$5,414$4,780$4,213$3,707$3,257
13 years$5,591$4,893$4,271$3,719$3,232$2,804
14 years$5,139$4,447$3,837$3,301$2,833$2,426
15 years$4,747$4,063$3,464$2,944$2,495$2,108
16 years$4,404$3,728$3,141$2,636$2,205$1,838
17 years$4,102$3,433$2,858$2,369$1,955$1,608
18 years$3,833$3,172$2,609$2,135$1,738$1,410
19 years$3,594$2,940$2,389$1,929$1,549$1,239
20 years$3,378$2,732$2,192$1,747$1,384$1,091
21 years$3,184$2,545$2,016$1,585$1,238$962
22 years$3,007$2,375$1,858$1,442$1,110$850
23 years$2,846$2,222$1,716$1,313$996$751
24 years$2,698$2,082$1,587$1,197$896$665
25 years$2,563$1,953$1,470$1,094$806$589
26 years$2,438$1,836$1,363$1,000$726$523
27 years$2,322$1,728$1,266$915$655$464
28 years$2,215$1,628$1,177$839$591$412
29 years$2,116$1,536$1,095$769$533$366
30 years$2,023$1,451$1,020$706$482$326
31 years$1,937$1,371$951$648$436$290
32 years$1,856$1,297$887$596$394$258
33 years$1,780$1,229$828$548$357$230
34 years$1,709$1,165$774$504$323$204
35 years$1,642$1,105$724$464$292$182
36 years$1,579$1,048$677$427$265$162
37 years$1,519$996$634$394$240$145
38 years$1,463$946$593$363$218$129
39 years$1,409$900$556$335$197$115
40 years$1,359$856$521$309$179$102
41 years$1,311$815$489$285$162$91
42 years$1,266$776$458$263$147$82
43 years$1,222$739$430$243$134$73
44 years$1,181$705$404$224$121$65
45 years$1,142$672$379$207$110$58
46 years$1,104$641$356$191$100$52
47 years$1,069$612$334$177$91$46
48 years$1,034$584$314$163$83$41
49 years$1,002$558$295$151$75$37
50 years$970$533$278$139$68$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $994,000, adding $5,549 every year, while hoping to spend $45,870 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: 59/30/11 Blend
69$994,000$994,000$994,000$994,000
70$1,101,112$1,048,430$1,033,023$1,162,851
71$1,164,620$1,050,998$1,018,824$1,207,621
72$1,233,068$1,052,154$1,002,612$1,250,766
73$1,306,913$1,051,781$984,271$1,296,701
74$1,386,654$1,049,754$963,679$1,345,696
75$1,472,841$1,045,940$940,711$1,398,055
76$1,566,079$1,040,199$915,233$1,454,110
77$1,667,032$1,032,382$887,106$1,514,231
78$1,776,430$1,022,330$856,185$1,578,826
79$1,895,077$1,009,875$822,318$1,648,348
80$2,023,855$994,839$785,347$1,723,297
81$2,163,737$977,035$745,104$1,804,227
82$2,315,790$956,261$701,417$1,891,749
83$2,481,190$932,307$654,104$1,986,542
84$2,661,230$904,949$602,975$2,089,354
85$2,857,333$873,950$547,833$2,201,013
86$3,071,066$839,058$488,470$2,322,435
87$3,304,152$800,009$424,671$2,454,633
88$3,558,487$756,521$356,209$2,598,726
89$3,836,160$708,298$282,849$2,755,952
90$4,139,468$655,025$204,345$2,927,679
91$4,470,943$596,370$120,439$3,115,417
92$4,833,369$531,982$30,864$3,320,838
93$5,229,814$461,491$0$3,545,787
94$5,663,655$384,504$0$3,799,901
95$6,138,611$300,607$0$4,082,195
96$6,658,775$209,363$0$4,391,567
97$7,228,659$110,310$0$4,730,805
98$7,853,227$2,960$0$5,102,983
99$8,537,949$0$0$5,511,494
100$9,288,849$0$0$5,997,456