Can I retire at age 76 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$100,746$99,849$98,974$98,119$97,285$96,712
2 years$49,874$48,946$48,045$47,173$46,326$45,748
3 years$32,919$31,987$31,089$30,224$29,391$28,826
4 years$24,443$23,513$22,625$21,775$20,962$20,414
5 years$19,359$18,435$17,558$16,725$15,935$15,406
6 years$15,971$15,053$14,189$13,375$12,609$12,099
7 years$13,552$12,642$11,791$10,996$10,254$9,765
8 years$11,738$10,836$10,000$9,225$8,507$8,037
9 years$10,328$9,435$8,613$7,857$7,164$6,714
10 years$9,201$8,317$7,509$6,773$6,104$5,673
11 years$8,279$7,404$6,611$5,895$5,250$4,838
12 years$7,512$6,645$5,867$5,170$4,549$4,156
13 years$6,863$6,005$5,242$4,565$3,967$3,592
14 years$6,307$5,459$4,710$4,052$3,478$3,121
15 years$5,826$4,987$4,252$3,614$3,062$2,722
16 years$5,405$4,575$3,855$3,236$2,706$2,384
17 years$5,034$4,213$3,508$2,907$2,399$2,093
18 years$4,705$3,893$3,202$2,620$2,133$1,843
19 years$4,411$3,608$2,932$2,367$1,902$1,627
20 years$4,146$3,353$2,691$2,144$1,699$1,439
21 years$3,907$3,123$2,475$1,946$1,520$1,274
22 years$3,690$2,915$2,281$1,769$1,362$1,131
23 years$3,493$2,727$2,106$1,611$1,223$1,004
24 years$3,312$2,555$1,948$1,470$1,099$893
25 years$3,145$2,398$1,804$1,342$989$795
26 years$2,992$2,253$1,673$1,227$891$709
27 years$2,850$2,121$1,554$1,123$803$632
28 years$2,719$1,998$1,444$1,029$725$564
29 years$2,597$1,885$1,344$944$655$504
30 years$2,483$1,780$1,252$866$591$450
31 years$2,377$1,683$1,167$795$535$402
32 years$2,278$1,592$1,089$731$484$360
33 years$2,185$1,508$1,017$672$438$322
34 years$2,097$1,429$950$619$396$288
35 years$2,015$1,356$888$569$359$258
36 years$1,938$1,287$831$524$325$231
37 years$1,864$1,222$778$483$295$207
38 years$1,795$1,161$728$445$267$185
39 years$1,730$1,104$682$411$242$166
40 years$1,668$1,051$640$379$220$149
41 years$1,609$1,000$600$349$199$133
42 years$1,553$953$563$323$181$120
43 years$1,500$908$528$298$164$107
44 years$1,450$865$495$275$149$96
45 years$1,401$825$465$254$135$86
46 years$1,355$787$437$234$123$77
47 years$1,312$751$411$217$112$69
48 years$1,270$717$386$200$101$62
49 years$1,230$685$363$185$92$56
50 years$1,191$654$341$171$84$50

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 76 starting with $1,220,000, adding $5,938 every year, while hoping to spend $22,381 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$1,220,000$1,220,000$1,220,000$1,220,000
76$1,350,565$1,285,905$1,266,995$1,370,968
77$1,464,509$1,325,101$1,285,626$1,427,949
78$1,589,326$1,365,468$1,304,131$1,486,684
79$1,726,100$1,407,039$1,322,483$1,549,145
80$1,876,027$1,449,848$1,340,651$1,615,656
81$2,040,424$1,493,932$1,358,604$1,686,576
82$2,220,739$1,539,328$1,376,310$1,762,295
83$2,418,571$1,586,071$1,393,732$1,843,246
84$2,635,678$1,634,201$1,410,835$1,929,902
85$2,873,998$1,683,758$1,427,579$2,022,785
86$3,135,666$1,734,782$1,443,923$2,122,467
87$3,423,031$1,787,314$1,459,822$2,229,578
88$3,738,686$1,841,397$1,475,231$2,344,812
89$4,085,482$1,897,076$1,490,101$2,468,932
90$4,466,562$1,954,394$1,504,381$2,602,776
91$4,885,391$2,013,399$1,518,017$2,747,268
92$5,345,782$2,074,136$1,530,952$2,903,424
93$5,851,938$2,136,655$1,543,125$3,072,363
94$6,408,490$2,201,006$1,554,474$3,255,317
95$7,020,540$2,267,239$1,564,933$3,453,641
96$7,693,708$2,335,406$1,574,431$3,668,828
97$8,434,186$2,405,562$1,582,895$3,902,521
98$9,248,799$2,477,760$1,590,247$4,156,531
99$10,145,063$2,552,057$1,596,408$4,432,850
100$11,131,263$2,628,511$1,601,290$4,733,674