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

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$92,489$91,665$90,861$90,076$89,310$88,636
2 years$45,786$44,934$44,107$43,306$42,529$41,849
3 years$30,221$29,365$28,540$27,747$26,982$26,318
4 years$22,440$21,586$20,770$19,990$19,244$18,600
5 years$17,772$16,924$16,118$15,354$14,629$14,008
6 years$14,662$13,820$13,026$12,279$11,575$10,978
7 years$12,441$11,606$10,825$10,095$9,414$8,840
8 years$10,776$9,948$9,180$8,469$7,810$7,259
9 years$9,482$8,662$7,907$7,213$6,577$6,050
10 years$8,447$7,635$6,893$6,218$5,604$5,100
11 years$7,601$6,797$6,069$5,411$4,819$4,338
12 years$6,896$6,100$5,386$4,747$4,176$3,718
13 years$6,300$5,513$4,812$4,191$3,642$3,205
14 years$5,790$5,011$4,324$3,720$3,193$2,777
15 years$5,348$4,578$3,904$3,317$2,811$2,416
16 years$4,962$4,200$3,539$2,970$2,484$2,110
17 years$4,622$3,868$3,221$2,669$2,203$1,848
18 years$4,319$3,574$2,940$2,405$1,959$1,622
19 years$4,049$3,313$2,691$2,173$1,746$1,428
20 years$3,807$3,078$2,470$1,968$1,559$1,259
21 years$3,587$2,867$2,272$1,786$1,395$1,112
22 years$3,388$2,677$2,094$1,624$1,251$984
23 years$3,206$2,503$1,933$1,479$1,123$871
24 years$3,040$2,345$1,788$1,349$1,009$772
25 years$2,888$2,201$1,656$1,232$908$686
26 years$2,747$2,069$1,536$1,127$818$609
27 years$2,617$1,947$1,426$1,031$737$541
28 years$2,496$1,834$1,326$945$665$482
29 years$2,384$1,731$1,234$866$601$429
30 years$2,280$1,634$1,149$795$543$382
31 years$2,182$1,545$1,071$730$491$340
32 years$2,091$1,462$1,000$671$444$303
33 years$2,006$1,384$933$617$402$270
34 years$1,925$1,312$872$568$364$241
35 years$1,850$1,245$815$523$330$215
36 years$1,779$1,181$763$481$299$192
37 years$1,712$1,122$714$444$271$171
38 years$1,648$1,066$669$409$245$153
39 years$1,588$1,014$626$377$222$137
40 years$1,531$965$587$348$202$122
41 years$1,477$918$551$321$183$109
42 years$1,426$874$516$296$166$97
43 years$1,377$833$485$273$151$87
44 years$1,331$794$455$252$137$78
45 years$1,286$757$427$233$124$70
46 years$1,244$723$401$215$113$62
47 years$1,204$689$377$199$102$56
48 years$1,166$658$354$184$93$50
49 years$1,129$629$333$170$84$44
50 years$1,094$600$313$157$77$40

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 $4,439 every year, while hoping to spend $58,399 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: 38/46/16 Blend
75$1,120,000$1,120,000$1,120,000$1,120,000
76$1,238,819$1,179,459$1,162,099$1,279,763
77$1,303,042$1,175,116$1,138,893$1,305,172
78$1,371,859$1,168,604$1,112,953$1,326,688
79$1,445,677$1,159,753$1,084,124$1,348,696
80$1,524,941$1,148,386$1,052,248$1,371,272
81$1,610,142$1,134,314$1,017,155$1,394,500
82$1,701,817$1,117,336$978,671$1,418,482
83$1,800,558$1,097,241$936,612$1,443,332
84$1,907,013$1,073,804$890,786$1,469,181
85$2,021,895$1,046,787$840,994$1,496,180
86$2,145,986$1,015,937$787,025$1,524,501
87$2,280,146$980,988$728,660$1,554,340
88$2,425,323$941,658$665,672$1,585,917
89$2,582,554$897,647$597,820$1,619,486
90$2,752,982$848,640$524,855$1,655,331
91$2,937,866$794,303$446,517$1,693,774
92$3,138,586$734,281$362,533$1,735,178
93$3,356,662$668,202$272,619$1,779,954
94$3,593,768$595,670$176,477$1,828,561
95$3,851,742$516,268$73,799$1,881,517
96$4,132,609$429,554$0$1,939,405
97$4,438,597$335,063$0$2,008,984
98$4,772,155$232,303$0$2,098,720
99$5,135,982$120,753$0$2,196,879
100$5,533,047$0$0$2,304,438