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%11.2%
1 years$92,489$91,665$90,861$90,076$89,310$88,859
2 years$45,786$44,934$44,107$43,306$42,529$42,074
3 years$30,221$29,365$28,540$27,747$26,982$26,537
4 years$22,440$21,586$20,770$19,990$19,244$18,812
5 years$17,772$16,924$16,118$15,354$14,629$14,212
6 years$14,662$13,820$13,026$12,279$11,575$11,173
7 years$12,441$11,606$10,825$10,095$9,414$9,027
8 years$10,776$9,948$9,180$8,469$7,810$7,438
9 years$9,482$8,662$7,907$7,213$6,577$6,221
10 years$8,447$7,635$6,893$6,218$5,604$5,263
11 years$7,601$6,797$6,069$5,411$4,819$4,494
12 years$6,896$6,100$5,386$4,747$4,176$3,865
13 years$6,300$5,513$4,812$4,191$3,642$3,345
14 years$5,790$5,011$4,324$3,720$3,193$2,910
15 years$5,348$4,578$3,904$3,317$2,811$2,542
16 years$4,962$4,200$3,539$2,970$2,484$2,228
17 years$4,622$3,868$3,221$2,669$2,203$1,960
18 years$4,319$3,574$2,940$2,405$1,959$1,728
19 years$4,049$3,313$2,691$2,173$1,746$1,527
20 years$3,807$3,078$2,470$1,968$1,559$1,353
21 years$3,587$2,867$2,272$1,786$1,395$1,200
22 years$3,388$2,677$2,094$1,624$1,251$1,066
23 years$3,206$2,503$1,933$1,479$1,123$949
24 years$3,040$2,345$1,788$1,349$1,009$845
25 years$2,888$2,201$1,656$1,232$908$753
26 years$2,747$2,069$1,536$1,127$818$672
27 years$2,617$1,947$1,426$1,031$737$601
28 years$2,496$1,834$1,326$945$665$537
29 years$2,384$1,731$1,234$866$601$480
30 years$2,280$1,634$1,149$795$543$430
31 years$2,182$1,545$1,071$730$491$385
32 years$2,091$1,462$1,000$671$444$345
33 years$2,006$1,384$933$617$402$309
34 years$1,925$1,312$872$568$364$277
35 years$1,850$1,245$815$523$330$248
36 years$1,779$1,181$763$481$299$223
37 years$1,712$1,122$714$444$271$200
38 years$1,648$1,066$669$409$245$179
39 years$1,588$1,014$626$377$222$161
40 years$1,531$965$587$348$202$145
41 years$1,477$918$551$321$183$130
42 years$1,426$874$516$296$166$117
43 years$1,377$833$485$273$151$105
44 years$1,331$794$455$252$137$94
45 years$1,286$757$427$233$124$85
46 years$1,244$723$401$215$113$76
47 years$1,204$689$377$199$102$68
48 years$1,166$658$354$184$93$61
49 years$1,129$629$333$170$84$55
50 years$1,094$600$313$157$77$50

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 $5,017 every year, while hoping to spend $40,217 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: 72/16/12 Blend
75$1,120,000$1,120,000$1,120,000$1,120,000
76$1,239,415$1,180,055$1,162,695$1,325,218
77$1,323,045$1,195,087$1,158,855$1,397,711
78$1,413,857$1,209,508$1,153,538$1,471,641
79$1,512,541$1,223,245$1,146,653$1,551,512
80$1,619,858$1,236,221$1,138,102$1,637,901
81$1,736,641$1,248,353$1,127,787$1,731,444
82$1,863,810$1,259,555$1,115,599$1,832,844
83$2,002,376$1,269,730$1,101,429$1,942,873
84$2,153,453$1,278,781$1,085,161$2,062,383
85$2,318,264$1,286,601$1,066,674$2,192,314
86$2,498,159$1,293,077$1,045,839$2,333,700
87$2,694,622$1,298,087$1,022,525$2,487,682
88$2,909,285$1,301,506$996,592$2,655,519
89$3,143,948$1,303,196$967,894$2,838,597
90$3,400,591$1,303,013$936,278$3,038,443
91$3,681,395$1,300,803$901,587$3,256,742
92$3,988,760$1,296,405$863,653$3,495,352
93$4,325,329$1,289,645$822,301$3,756,320
94$4,694,015$1,280,340$777,350$4,041,903
95$5,098,023$1,268,295$728,610$4,354,587
96$5,540,884$1,253,304$675,881$4,697,116
97$6,026,487$1,235,149$618,956$5,072,514
98$6,559,116$1,213,598$557,618$5,484,112
99$7,143,487$1,188,406$491,640$5,935,585
100$7,784,797$1,159,313$420,784$6,430,983