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

Use the below retirement simulation to view the chances of a successful retirement.
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%16%
1 years$102,398$101,486$100,596$99,727$98,879$96,450
2 years$50,692$49,748$48,833$47,946$47,085$44,653
3 years$33,459$32,511$31,598$30,719$29,873$27,513
4 years$24,844$23,899$22,995$22,132$21,306$19,037
5 years$19,677$18,737$17,845$16,999$16,196$14,025
6 years$16,233$15,300$14,422$13,594$12,815$10,744
7 years$13,774$12,849$11,985$11,177$10,422$8,450
8 years$11,930$11,014$10,164$9,376$8,646$6,773
9 years$10,497$9,590$8,754$7,986$7,282$5,506
10 years$9,352$8,453$7,632$6,884$6,204$4,524
11 years$8,415$7,525$6,719$5,991$5,336$3,748
12 years$7,635$6,754$5,963$5,255$4,624$3,126
13 years$6,975$6,104$5,328$4,640$4,032$2,622
14 years$6,410$5,548$4,787$4,118$3,535$2,209
15 years$5,921$5,068$4,322$3,673$3,112$1,867
16 years$5,494$4,650$3,918$3,289$2,750$1,583
17 years$5,117$4,283$3,566$2,955$2,439$1,346
18 years$4,782$3,957$3,255$2,663$2,168$1,146
19 years$4,483$3,668$2,980$2,406$1,933$978
20 years$4,214$3,408$2,735$2,179$1,726$836
21 years$3,971$3,174$2,515$1,978$1,545$715
22 years$3,751$2,963$2,318$1,798$1,385$613
23 years$3,550$2,771$2,141$1,638$1,243$525
24 years$3,366$2,597$1,980$1,494$1,117$451
25 years$3,197$2,437$1,834$1,364$1,005$387
26 years$3,041$2,290$1,701$1,247$906$332
27 years$2,897$2,155$1,579$1,142$817$286
28 years$2,764$2,031$1,468$1,046$737$246
29 years$2,640$1,916$1,366$959$665$211
30 years$2,524$1,810$1,272$880$601$182
31 years$2,416$1,711$1,186$809$543$157
32 years$2,315$1,619$1,107$743$492$135
33 years$2,221$1,533$1,033$683$445$116
34 years$2,132$1,453$966$629$403$100
35 years$2,048$1,378$903$579$365$86
36 years$1,969$1,308$844$533$331$74
37 years$1,895$1,242$790$491$300$64
38 years$1,825$1,180$740$453$272$55
39 years$1,758$1,123$693$417$246$47
40 years$1,695$1,068$650$385$223$41
41 years$1,635$1,017$609$355$203$35
42 years$1,579$968$572$328$184$30
43 years$1,525$922$536$303$167$26
44 years$1,473$879$504$279$152$23
45 years$1,424$839$473$258$138$19
46 years$1,378$800$444$238$125$17
47 years$1,333$763$417$220$113$14
48 years$1,290$729$392$203$103$12
49 years$1,250$696$369$188$94$11
50 years$1,211$665$346$174$85$9

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 $2,234 every year, while hoping to spend $57,311 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: 83/12/5 Blend
74$1,240,000$1,240,000$1,240,000$1,240,000
75$1,368,784$1,303,064$1,283,844$1,482,132
76$1,447,422$1,305,936$1,265,875$1,559,327
77$1,532,160$1,307,028$1,245,382$1,636,089
78$1,623,559$1,306,191$1,222,222$1,718,569
79$1,722,238$1,303,270$1,196,242$1,807,305
80$1,828,874$1,298,098$1,167,284$1,902,888
81$1,944,212$1,290,498$1,135,181$2,005,968
82$2,069,072$1,280,282$1,099,759$2,117,262
83$2,204,353$1,267,253$1,060,837$2,237,561
84$2,351,047$1,251,198$1,018,225$2,367,733
85$2,510,242$1,231,894$971,724$2,508,736
86$2,683,135$1,209,106$921,125$2,661,626
87$2,871,045$1,182,582$866,213$2,827,564
88$3,075,419$1,152,056$806,758$3,007,831
89$3,297,852$1,117,248$742,526$3,203,838
90$3,540,100$1,077,859$673,266$3,417,140
91$3,804,091$1,033,575$598,722$3,649,449
92$4,091,950$984,062$518,621$3,902,653
93$4,406,017$928,969$432,682$4,178,832
94$4,748,863$867,921$340,610$4,480,277
95$5,123,323$800,526$242,097$4,809,516
96$5,532,516$726,365$136,821$5,169,332
97$5,979,875$644,999$24,446$5,562,793
98$6,469,179$555,961$0$5,993,281
99$7,004,593$458,761$0$6,469,615
100$7,590,699$352,878$0$6,992,533