Can I retire at age 76 with 1,020,000?

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 $1,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$84,231$83,480$82,748$82,034$81,336$79,434
2 years$41,698$40,922$40,169$39,439$38,732$36,826
3 years$27,523$26,743$25,992$25,269$24,573$22,724
4 years$20,436$19,659$18,916$18,205$17,526$15,747
5 years$16,186$15,413$14,679$13,983$13,323$11,619
6 years$13,353$12,586$11,863$11,182$10,542$8,915
7 years$11,330$10,569$9,858$9,194$8,573$7,024
8 years$9,814$9,060$8,361$7,712$7,112$5,640
9 years$8,635$7,888$7,201$6,569$5,990$4,593
10 years$7,692$6,953$6,278$5,663$5,103$3,781
11 years$6,922$6,190$5,527$4,928$4,389$3,139
12 years$6,280$5,556$4,905$4,323$3,804$2,623
13 years$5,738$5,021$4,382$3,816$3,317$2,204
14 years$5,273$4,564$3,938$3,388$2,907$1,861
15 years$4,871$4,169$3,555$3,021$2,560$1,576
16 years$4,519$3,825$3,223$2,705$2,262$1,339
17 years$4,209$3,523$2,933$2,431$2,006$1,141
18 years$3,934$3,255$2,677$2,190$1,784$974
19 years$3,688$3,017$2,451$1,979$1,590$833
20 years$3,467$2,803$2,249$1,793$1,420$714
21 years$3,267$2,611$2,069$1,627$1,271$612
22 years$3,085$2,438$1,907$1,479$1,139$525
23 years$2,920$2,280$1,761$1,347$1,023$452
24 years$2,769$2,136$1,628$1,229$919$388
25 years$2,630$2,005$1,508$1,122$827$334
26 years$2,502$1,884$1,399$1,026$745$288
27 years$2,383$1,773$1,299$939$672$248
28 years$2,273$1,671$1,208$860$606$214
29 years$2,171$1,576$1,124$789$547$184
30 years$2,076$1,488$1,047$724$494$159
31 years$1,988$1,407$976$665$447$137
32 years$1,905$1,331$910$611$404$118
33 years$1,827$1,261$850$562$366$102
34 years$1,754$1,195$794$517$331$88
35 years$1,685$1,133$743$476$300$76
36 years$1,620$1,076$695$438$272$66
37 years$1,559$1,022$650$404$246$57
38 years$1,501$971$609$372$223$49
39 years$1,446$923$570$343$203$42
40 years$1,395$879$535$317$184$37
41 years$1,345$836$501$292$167$32
42 years$1,299$796$470$270$151$27
43 years$1,254$759$441$249$137$24
44 years$1,212$723$414$230$125$20
45 years$1,172$690$389$212$113$18
46 years$1,133$658$365$196$103$15
47 years$1,097$628$343$181$93$13
48 years$1,061$599$323$167$85$11
49 years$1,028$572$303$155$77$10
50 years$996$547$285$143$70$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 76 starting with $1,020,000, adding $4,328 every year, while hoping to spend $58,401 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: 41/40/19 Blend
75$1,020,000$1,020,000$1,020,000$1,020,000
76$1,128,504$1,074,444$1,058,634$1,168,294
77$1,181,474$1,064,954$1,031,960$1,187,521
78$1,237,888$1,053,041$1,002,435$1,202,347
79$1,298,038$1,038,526$969,902$1,217,181
80$1,362,241$1,021,216$934,197$1,232,056
81$1,430,844$1,000,910$895,147$1,247,010
82$1,504,229$977,394$852,573$1,262,089
83$1,582,813$950,439$806,288$1,277,351
84$1,667,056$919,806$756,094$1,292,863
85$1,757,459$885,240$701,786$1,308,706
86$1,854,575$846,471$643,151$1,324,974
87$1,959,009$803,216$579,964$1,341,777
88$2,071,426$755,171$511,991$1,359,243
89$2,192,556$702,020$438,988$1,377,521
90$2,323,202$643,424$360,699$1,396,782
91$2,464,244$579,028$276,858$1,417,222
92$2,616,652$508,454$187,187$1,439,067
93$2,781,488$431,306$91,395$1,462,573
94$2,959,922$347,162$0$1,488,033
95$3,153,240$255,580$0$1,517,975
96$3,362,856$156,089$0$1,570,498
97$3,590,324$48,194$0$1,627,546
98$3,837,355$0$0$1,689,673
99$4,105,828$0$0$1,787,704
100$4,397,813$0$0$1,917,506