Can I retire at age 75 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$102,398$101,486$100,596$99,727$98,879$96,962
2 years$50,692$49,748$48,833$47,946$47,085$45,162
3 years$33,459$32,511$31,598$30,719$29,873$28,003
4 years$24,844$23,899$22,995$22,132$21,306$19,503
5 years$19,677$18,737$17,845$16,999$16,196$14,467
6 years$16,233$15,300$14,422$13,594$12,815$11,161
7 years$13,774$12,849$11,985$11,177$10,422$8,843
8 years$11,930$11,014$10,164$9,376$8,646$7,142
9 years$10,497$9,590$8,754$7,986$7,282$5,851
10 years$9,352$8,453$7,632$6,884$6,204$4,846
11 years$8,415$7,525$6,719$5,991$5,336$4,049
12 years$7,635$6,754$5,963$5,255$4,624$3,406
13 years$6,975$6,104$5,328$4,640$4,032$2,881
14 years$6,410$5,548$4,787$4,118$3,535$2,448
15 years$5,921$5,068$4,322$3,673$3,112$2,089
16 years$5,494$4,650$3,918$3,289$2,750$1,787
17 years$5,117$4,283$3,566$2,955$2,439$1,534
18 years$4,782$3,957$3,255$2,663$2,168$1,319
19 years$4,483$3,668$2,980$2,406$1,933$1,136
20 years$4,214$3,408$2,735$2,179$1,726$981
21 years$3,971$3,174$2,515$1,978$1,545$848
22 years$3,751$2,963$2,318$1,798$1,385$733
23 years$3,550$2,771$2,141$1,638$1,243$635
24 years$3,366$2,597$1,980$1,494$1,117$551
25 years$3,197$2,437$1,834$1,364$1,005$478
26 years$3,041$2,290$1,701$1,247$906$415
27 years$2,897$2,155$1,579$1,142$817$360
28 years$2,764$2,031$1,468$1,046$737$313
29 years$2,640$1,916$1,366$959$665$272
30 years$2,524$1,810$1,272$880$601$237
31 years$2,416$1,711$1,186$809$543$206
32 years$2,315$1,619$1,107$743$492$179
33 years$2,221$1,533$1,033$683$445$156
34 years$2,132$1,453$966$629$403$136
35 years$2,048$1,378$903$579$365$118
36 years$1,969$1,308$844$533$331$103
37 years$1,895$1,242$790$491$300$90
38 years$1,825$1,180$740$453$272$78
39 years$1,758$1,123$693$417$246$68
40 years$1,695$1,068$650$385$223$59
41 years$1,635$1,017$609$355$203$52
42 years$1,579$968$572$328$184$45
43 years$1,525$922$536$303$167$39
44 years$1,473$879$504$279$152$34
45 years$1,424$839$473$258$138$30
46 years$1,378$800$444$238$125$26
47 years$1,333$763$417$220$113$23
48 years$1,290$729$392$203$103$20
49 years$1,250$696$369$188$94$17
50 years$1,211$665$346$174$85$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 75 starting with $1,240,000, adding $6,931 every year, while hoping to spend $22,598 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: 21/50/29 Blend
74$1,240,000$1,240,000$1,240,000$1,240,000
75$1,373,629$1,307,909$1,288,689$1,389,726
76$1,489,695$1,347,953$1,307,816$1,445,056
77$1,616,843$1,389,201$1,326,827$1,501,855
78$1,756,178$1,431,689$1,345,693$1,562,083
79$1,908,920$1,475,453$1,364,385$1,626,032
80$2,076,410$1,520,531$1,382,872$1,694,023
81$2,260,126$1,566,959$1,401,121$1,766,408
82$2,461,697$1,614,779$1,419,097$1,843,573
83$2,682,917$1,664,029$1,436,762$1,925,945
84$2,925,759$1,714,751$1,454,079$2,013,990
85$3,192,401$1,766,988$1,471,005$2,108,221
86$3,485,239$1,820,784$1,487,497$2,209,204
87$3,806,913$1,876,183$1,503,508$2,317,559
88$4,160,333$1,933,231$1,518,990$2,433,969
89$4,548,704$1,991,975$1,533,893$2,559,184
90$4,975,554$2,052,464$1,548,161$2,694,032
91$5,444,774$2,114,748$1,561,738$2,839,421
92$5,960,648$2,178,878$1,574,563$2,996,352
93$6,527,897$2,244,907$1,586,574$3,165,926
94$7,151,723$2,312,887$1,597,705$3,349,355
95$7,837,855$2,382,875$1,607,884$3,547,973
96$8,592,608$2,454,927$1,617,040$3,763,249
97$9,422,937$2,529,102$1,625,093$3,996,800
98$10,336,506$2,605,458$1,631,964$4,250,408
99$11,341,762$2,684,057$1,637,567$4,526,032
100$12,448,008$2,764,962$1,641,811$4,825,832