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%18.5%
1 years$92,489$91,665$90,861$90,076$89,310$86,245
2 years$45,786$44,934$44,107$43,306$42,529$39,471
3 years$30,221$29,365$28,540$27,747$26,982$24,029
4 years$22,440$21,586$20,770$19,990$19,244$16,417
5 years$17,772$16,924$16,118$15,354$14,629$11,937
6 years$14,662$13,820$13,026$12,279$11,575$9,020
7 years$12,441$11,606$10,825$10,095$9,414$6,994
8 years$10,776$9,948$9,180$8,469$7,810$5,524
9 years$9,482$8,662$7,907$7,213$6,577$4,423
10 years$8,447$7,635$6,893$6,218$5,604$3,577
11 years$7,601$6,797$6,069$5,411$4,819$2,917
12 years$6,896$6,100$5,386$4,747$4,176$2,393
13 years$6,300$5,513$4,812$4,191$3,642$1,973
14 years$5,790$5,011$4,324$3,720$3,193$1,634
15 years$5,348$4,578$3,904$3,317$2,811$1,357
16 years$4,962$4,200$3,539$2,970$2,484$1,130
17 years$4,622$3,868$3,221$2,669$2,203$943
18 years$4,319$3,574$2,940$2,405$1,959$789
19 years$4,049$3,313$2,691$2,173$1,746$660
20 years$3,807$3,078$2,470$1,968$1,559$554
21 years$3,587$2,867$2,272$1,786$1,395$465
22 years$3,388$2,677$2,094$1,624$1,251$390
23 years$3,206$2,503$1,933$1,479$1,123$328
24 years$3,040$2,345$1,788$1,349$1,009$276
25 years$2,888$2,201$1,656$1,232$908$232
26 years$2,747$2,069$1,536$1,127$818$196
27 years$2,617$1,947$1,426$1,031$737$165
28 years$2,496$1,834$1,326$945$665$139
29 years$2,384$1,731$1,234$866$601$117
30 years$2,280$1,634$1,149$795$543$99
31 years$2,182$1,545$1,071$730$491$83
32 years$2,091$1,462$1,000$671$444$70
33 years$2,006$1,384$933$617$402$59
34 years$1,925$1,312$872$568$364$50
35 years$1,850$1,245$815$523$330$42
36 years$1,779$1,181$763$481$299$35
37 years$1,712$1,122$714$444$271$30
38 years$1,648$1,066$669$409$245$25
39 years$1,588$1,014$626$377$222$21
40 years$1,531$965$587$348$202$18
41 years$1,477$918$551$321$183$15
42 years$1,426$874$516$296$166$13
43 years$1,377$833$485$273$151$11
44 years$1,331$794$455$252$137$9
45 years$1,286$757$427$233$124$8
46 years$1,244$723$401$215$113$6
47 years$1,204$689$377$199$102$5
48 years$1,166$658$354$184$93$5
49 years$1,129$629$333$170$84$4
50 years$1,094$600$313$157$77$3

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 $2,322 every year, while hoping to spend $23,738 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: 24/48/28 Blend
75$1,120,000$1,120,000$1,120,000$1,120,000
76$1,236,635$1,177,275$1,159,915$1,255,366
77$1,337,515$1,209,705$1,173,515$1,303,897
78$1,447,889$1,242,927$1,186,775$1,353,700
79$1,568,700$1,276,958$1,199,659$1,406,563
80$1,700,988$1,311,809$1,212,128$1,462,755
81$1,845,895$1,347,494$1,224,141$1,522,575
82$2,004,683$1,384,028$1,235,656$1,586,351
83$2,178,738$1,421,423$1,246,628$1,654,442
84$2,369,588$1,459,691$1,257,009$1,727,246
85$2,578,917$1,498,847$1,266,749$1,805,200
86$2,808,577$1,538,901$1,275,796$1,888,786
87$3,060,611$1,579,866$1,284,094$1,978,532
88$3,337,268$1,621,754$1,291,586$2,075,024
89$3,641,024$1,664,575$1,298,209$2,178,903
90$3,974,609$1,708,340$1,303,900$2,290,879
91$4,341,030$1,753,058$1,308,590$2,411,733
92$4,743,597$1,798,740$1,312,210$2,542,323
93$5,185,958$1,845,394$1,314,684$2,683,599
94$5,672,134$1,893,026$1,315,935$2,836,603
95$6,206,553$1,941,645$1,315,879$3,002,488
96$6,794,091$1,991,255$1,314,431$3,182,521
97$7,440,124$2,041,863$1,311,500$3,378,099
98$8,150,573$2,093,470$1,306,991$3,590,765
99$8,931,962$2,146,081$1,300,806$3,822,214
100$9,791,478$2,199,695$1,292,839$4,074,320