Can I retire at age 76 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$92,489$91,665$90,861$90,076$89,310$88,194
2 years$45,786$44,934$44,107$43,306$42,529$41,406
3 years$30,221$29,365$28,540$27,747$26,982$25,887
4 years$22,440$21,586$20,770$19,990$19,244$18,185
5 years$17,772$16,924$16,118$15,354$14,629$13,610
6 years$14,662$13,820$13,026$12,279$11,575$10,597
7 years$12,441$11,606$10,825$10,095$9,414$8,476
8 years$10,776$9,948$9,180$8,469$7,810$6,913
9 years$9,482$8,662$7,907$7,213$6,577$5,721
10 years$8,447$7,635$6,893$6,218$5,604$4,788
11 years$7,601$6,797$6,069$5,411$4,819$4,043
12 years$6,896$6,100$5,386$4,747$4,176$3,438
13 years$6,300$5,513$4,812$4,191$3,642$2,941
14 years$5,790$5,011$4,324$3,720$3,193$2,528
15 years$5,348$4,578$3,904$3,317$2,811$2,182
16 years$4,962$4,200$3,539$2,970$2,484$1,890
17 years$4,622$3,868$3,221$2,669$2,203$1,641
18 years$4,319$3,574$2,940$2,405$1,959$1,429
19 years$4,049$3,313$2,691$2,173$1,746$1,247
20 years$3,807$3,078$2,470$1,968$1,559$1,090
21 years$3,587$2,867$2,272$1,786$1,395$954
22 years$3,388$2,677$2,094$1,624$1,251$836
23 years$3,206$2,503$1,933$1,479$1,123$734
24 years$3,040$2,345$1,788$1,349$1,009$645
25 years$2,888$2,201$1,656$1,232$908$567
26 years$2,747$2,069$1,536$1,127$818$499
27 years$2,617$1,947$1,426$1,031$737$439
28 years$2,496$1,834$1,326$945$665$387
29 years$2,384$1,731$1,234$866$601$341
30 years$2,280$1,634$1,149$795$543$301
31 years$2,182$1,545$1,071$730$491$265
32 years$2,091$1,462$1,000$671$444$234
33 years$2,006$1,384$933$617$402$207
34 years$1,925$1,312$872$568$364$183
35 years$1,850$1,245$815$523$330$161
36 years$1,779$1,181$763$481$299$143
37 years$1,712$1,122$714$444$271$126
38 years$1,648$1,066$669$409$245$111
39 years$1,588$1,014$626$377$222$98
40 years$1,531$965$587$348$202$87
41 years$1,477$918$551$321$183$77
42 years$1,426$874$516$296$166$68
43 years$1,377$833$485$273$151$60
44 years$1,331$794$455$252$137$53
45 years$1,286$757$427$233$124$47
46 years$1,244$723$401$215$113$42
47 years$1,204$689$377$199$102$37
48 years$1,166$658$354$184$93$33
49 years$1,129$629$333$170$84$29
50 years$1,094$600$313$157$77$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 76 starting with $1,120,000, adding $3,565 every year, while hoping to spend $40,003 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: 50/27/23 Blend
75$1,120,000$1,120,000$1,120,000$1,120,000
76$1,237,917$1,178,557$1,161,197$1,291,653
77$1,321,622$1,193,744$1,157,535$1,344,531
78$1,412,524$1,208,334$1,152,408$1,397,628
79$1,511,315$1,222,255$1,145,727$1,454,517
80$1,618,756$1,235,433$1,137,396$1,515,571
81$1,735,684$1,247,784$1,127,314$1,581,206
82$1,863,022$1,259,223$1,115,377$1,651,881
83$2,001,782$1,269,657$1,101,474$1,728,101
84$2,153,081$1,278,988$1,085,491$1,810,426
85$2,318,146$1,287,109$1,067,306$1,899,474
86$2,498,330$1,293,911$1,046,793$1,995,930
87$2,695,120$1,299,273$1,023,822$2,100,547
88$2,910,155$1,303,069$998,252$2,214,160
89$3,145,237$1,305,166$969,940$2,337,690
90$3,402,352$1,305,421$938,734$2,472,154
91$3,683,687$1,303,681$904,476$2,618,678
92$3,991,648$1,299,786$867,001$2,778,502
93$4,328,886$1,293,566$826,136$2,952,999
94$4,698,320$1,284,839$781,699$3,143,681
95$5,103,165$1,273,412$733,503$3,352,221
96$5,546,962$1,259,083$681,348$3,580,465
97$6,033,608$1,241,634$625,030$3,830,452
98$6,567,400$1,220,838$564,332$4,104,432
99$7,153,066$1,196,450$499,029$4,404,889
100$7,795,818$1,168,216$428,886$4,734,566