Retirement Savings When Retiring at 70

Does the age you stop saving matter? This page ends deposits at 70 after starting at 35. It assumes $600 a month at 6.5 percent.

You would make 420 deposits. By 70 the account reaches $960,190 and growth supplies 74 percent of it.

Age you start saving

years

Age you retire

years

Amount already saved

Saved each month

Return per year

Balance at retirement: $960,190
Total you put in: $252,000
Growth: $708,190
Years of saving: 35

Year by year

Year	Total put in	Balance
36	$7,200	$7,418
37	$14,400	$15,334
38	$21,600	$23,779
39	$28,800	$32,790
40	$36,000	$42,404
41	$43,200	$52,663
42	$50,400	$63,608
43	$57,600	$75,286
44	$64,800	$87,747
45	$72,000	$101,042
46	$79,200	$115,227
47	$86,400	$130,363
48	$93,600	$146,512
49	$100,800	$163,742
50	$108,000	$182,127
51	$115,200	$201,743
52	$122,400	$222,672
53	$129,600	$245,003
54	$136,800	$268,830
55	$144,000	$294,253
56	$151,200	$321,378
57	$158,400	$350,319
58	$165,600	$381,199
59	$172,800	$414,147
60	$180,000	$449,302
61	$187,200	$486,811
62	$194,400	$526,832
63	$201,600	$569,533
64	$208,800	$615,094
65	$216,000	$663,707
66	$223,200	$715,575
67	$230,400	$770,917
68	$237,600	$829,965
69	$244,800	$892,968
70	$252,000	$960,190

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How the balance is worked out

The calculator counts 420 months from age 35 to age 70. Each month your balance grows by one twelfth of the 6.5 percent yearly return and then your $600 deposit goes in. The final balance is what is left after the last month.

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Worked example

Picture saving $600 a month for the 35 years between age 35 and 70. At a steady 6.5 percent that adds up to $960,190.

Your own deposits make up $252,000 of that. The other $708,190 is growth. That is 74 percent of the balance.

Questions about this calculator

What if you saved double, $1,200 a month, from age 35 to 70 at 6.5 percent?

The balance at 70 would be about $1,920,379 instead of $960,190. That is 2 times as much.

What if returns averaged 5 percent instead of 6.5 percent for $600 a month from age 35 to 70?

The $600 a month would reach $681,655 by age 70. That is $278,534 less than the $960,190 shown at 6.5 percent.

What is $960,190 worth after 35 years of inflation?

At 2.5 percent a year prices rise by a factor of 2.37. The $960,190 would then buy about as much as $404,596 does at the start.

What if you retired 3 years earlier, at 67, when saving $600 a month from age 35 to 70 at 6.5 percent?

The balance would be $770,917 instead of $960,190. That is $189,273 less.

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This page is for education only and is not financial or tax advice.