Can I retire at age 76 with 1,050,000?

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 $1,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$86,708$85,936$85,182$84,447$83,728$82,409
2 years$42,925$42,125$41,351$40,599$39,871$38,545
3 years$28,332$27,529$26,757$26,012$25,296$24,005
4 years$21,037$20,237$19,472$18,740$18,041$16,795
5 years$16,662$15,866$15,111$14,394$13,715$12,517
6 years$13,745$12,956$12,212$11,511$10,852$9,704
7 years$11,663$10,880$10,148$9,464$8,825$7,727
8 years$10,102$9,326$8,606$7,939$7,322$6,273
9 years$8,889$8,120$7,413$6,762$6,166$5,167
10 years$7,919$7,158$6,463$5,829$5,254$4,303
11 years$7,125$6,372$5,690$5,073$4,518$3,616
12 years$6,465$5,719$5,049$4,450$3,915$3,059
13 years$5,906$5,168$4,511$3,929$3,414$2,603
14 years$5,428$4,698$4,053$3,487$2,993$2,226
15 years$5,014$4,292$3,660$3,110$2,635$1,911
16 years$4,652$3,938$3,318$2,785$2,329$1,645
17 years$4,333$3,626$3,019$2,502$2,065$1,421
18 years$4,049$3,351$2,756$2,255$1,836$1,230
19 years$3,796$3,106$2,523$2,037$1,637$1,067
20 years$3,569$2,886$2,316$1,845$1,462$927
21 years$3,363$2,688$2,130$1,675$1,308$807
22 years$3,176$2,509$1,963$1,523$1,173$703
23 years$3,006$2,347$1,813$1,387$1,053$613
24 years$2,850$2,199$1,676$1,265$946$535
25 years$2,707$2,063$1,553$1,155$851$468
26 years$2,575$1,939$1,440$1,056$767$409
27 years$2,453$1,825$1,337$967$691$358
28 years$2,340$1,720$1,243$886$624$313
29 years$2,235$1,622$1,157$812$563$274
30 years$2,137$1,532$1,077$745$509$240
31 years$2,046$1,448$1,004$685$460$211
32 years$1,961$1,371$937$629$416$185
33 years$1,880$1,298$875$579$377$162
34 years$1,805$1,230$818$532$341$142
35 years$1,734$1,167$764$490$309$125
36 years$1,668$1,107$715$451$280$109
37 years$1,605$1,052$669$416$254$96
38 years$1,545$1,000$627$383$230$84
39 years$1,489$951$587$353$209$74
40 years$1,436$904$550$326$189$65
41 years$1,385$861$516$301$172$57
42 years$1,337$820$484$278$156$50
43 years$1,291$781$454$256$141$44
44 years$1,248$745$426$237$128$39
45 years$1,206$710$400$218$116$34
46 years$1,167$677$376$202$106$30
47 years$1,129$646$353$186$96$26
48 years$1,093$617$332$172$87$23
49 years$1,058$589$312$159$79$20
50 years$1,025$563$293$147$72$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 76 starting with $1,050,000, adding $6,228 every year, while hoping to spend $29,339 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: 50/31/19 Blend
75$1,050,000$1,050,000$1,050,000$1,050,000
76$1,163,524$1,107,874$1,091,599$1,215,257
77$1,250,987$1,130,944$1,096,951$1,274,733
78$1,346,388$1,154,160$1,101,499$1,335,813
79$1,450,506$1,177,500$1,105,186$1,401,569
80$1,564,197$1,200,937$1,107,949$1,472,453
81$1,688,405$1,224,443$1,109,726$1,548,963
82$1,824,170$1,247,988$1,110,449$1,631,649
83$1,972,634$1,271,539$1,110,048$1,721,116
84$2,135,058$1,295,059$1,108,449$1,818,032
85$2,312,826$1,318,509$1,105,575$1,923,132
86$2,507,467$1,341,849$1,101,344$2,037,230
87$2,720,662$1,365,032$1,095,672$2,161,220
88$2,954,261$1,388,011$1,088,469$2,296,088
89$3,210,304$1,410,732$1,079,641$2,442,924
90$3,491,037$1,433,140$1,069,091$2,602,926
91$3,798,934$1,455,174$1,056,716$2,777,419
92$4,136,717$1,476,770$1,042,409$2,967,861
93$4,507,389$1,497,859$1,026,056$3,175,862
94$4,914,255$1,518,365$1,007,541$3,403,194
95$5,360,954$1,538,211$986,739$3,651,816
96$5,851,498$1,557,310$963,522$3,923,882
97$6,390,306$1,575,573$937,754$4,221,773
98$6,982,243$1,592,902$909,295$4,548,110
99$7,632,672$1,609,194$877,996$4,905,785
100$8,347,499$1,624,339$843,704$5,297,987