Can I retire at age 76 with 1,040,000?

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 $1,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$85,882$85,117$84,371$83,642$82,931$79,957
2 years$42,516$41,724$40,957$40,213$39,491$36,527
3 years$28,062$27,267$26,502$25,765$25,055$22,193
4 years$20,837$20,044$19,286$18,562$17,869$15,133
5 years$16,503$15,715$14,967$14,257$13,584$10,980
6 years$13,615$12,832$12,096$11,402$10,748$8,278
7 years$11,552$10,777$10,052$9,374$8,741$6,405
8 years$10,006$9,238$8,524$7,864$7,252$5,047
9 years$8,804$8,043$7,342$6,698$6,107$4,030
10 years$7,843$7,089$6,401$5,774$5,204$3,252
11 years$7,058$6,311$5,635$5,025$4,475$2,645
12 years$6,403$5,665$5,001$4,408$3,878$2,164
13 years$5,850$5,119$4,468$3,891$3,382$1,780
14 years$5,376$4,653$4,015$3,454$2,964$1,469
15 years$4,966$4,251$3,625$3,081$2,610$1,217
16 years$4,608$3,900$3,286$2,758$2,307$1,010
17 years$4,292$3,592$2,991$2,478$2,045$841
18 years$4,011$3,319$2,730$2,233$1,819$701
19 years$3,760$3,076$2,499$2,018$1,621$585
20 years$3,535$2,858$2,294$1,828$1,448$489
21 years$3,331$2,662$2,110$1,659$1,296$409
22 years$3,146$2,485$1,944$1,508$1,161$343
23 years$2,977$2,324$1,795$1,374$1,043$287
24 years$2,823$2,178$1,660$1,253$937$241
25 years$2,681$2,044$1,538$1,144$843$202
26 years$2,551$1,921$1,426$1,046$760$170
27 years$2,430$1,808$1,324$958$685$142
28 years$2,318$1,703$1,231$877$618$120
29 years$2,214$1,607$1,146$805$558$100
30 years$2,117$1,518$1,067$738$504$84
31 years$2,027$1,435$995$678$456$71
32 years$1,942$1,357$928$623$412$60
33 years$1,862$1,286$867$573$373$50
34 years$1,788$1,218$810$527$338$42
35 years$1,718$1,156$757$485$306$35
36 years$1,652$1,097$708$447$277$30
37 years$1,589$1,042$663$412$251$25
38 years$1,530$990$621$380$228$21
39 years$1,475$941$582$350$207$18
40 years$1,422$896$545$323$187$15
41 years$1,372$853$511$298$170$13
42 years$1,324$812$480$275$154$11
43 years$1,279$774$450$254$140$9
44 years$1,236$738$422$234$127$7
45 years$1,195$703$397$216$115$6
46 years$1,155$671$372$200$105$5
47 years$1,118$640$350$185$95$4
48 years$1,082$611$329$171$86$4
49 years$1,048$584$309$158$78$3
50 years$1,015$558$291$146$71$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 76 starting with $1,040,000, adding $4,035 every year, while hoping to spend $33,090 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: 46/37/17 Blend
75$1,040,000$1,040,000$1,040,000$1,040,000
76$1,150,242$1,095,122$1,079,002$1,197,411
77$1,232,359$1,113,576$1,079,941$1,249,151
78$1,321,743$1,131,824$1,079,803$1,301,598
79$1,419,101$1,149,823$1,078,516$1,357,791
80$1,525,208$1,167,524$1,076,005$1,418,092
81$1,640,922$1,184,875$1,072,194$1,482,901
82$1,767,183$1,201,821$1,066,999$1,552,658
83$1,905,027$1,218,302$1,060,335$1,627,852
84$2,055,596$1,234,254$1,052,112$1,709,019
85$2,220,145$1,249,611$1,042,236$1,796,755
86$2,400,056$1,264,298$1,030,608$1,891,714
87$2,596,852$1,278,239$1,017,123$1,994,619
88$2,812,209$1,291,351$1,001,675$2,106,270
89$3,047,973$1,303,545$984,149$2,227,547
90$3,306,175$1,314,728$964,428$2,359,424
91$3,589,054$1,324,799$942,385$2,502,975
92$3,899,075$1,333,652$917,893$2,659,385
93$4,238,952$1,341,172$890,813$2,829,961
94$4,611,675$1,347,239$861,005$3,016,149
95$5,020,537$1,351,725$828,320$3,219,540
96$5,469,164$1,354,492$792,601$3,441,894
97$5,961,552$1,355,395$753,687$3,685,150
98$6,502,102$1,354,281$711,406$3,951,450
99$7,095,660$1,350,985$665,582$4,243,157
100$7,747,567$1,345,333$616,029$4,562,877