Can I retire at age 76 with 1,600,000?

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 $1,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$132,127$130,950$129,801$128,681$127,586$125,783
2 years$65,409$64,191$63,010$61,866$60,755$58,943
3 years$43,173$41,950$40,772$39,638$38,546$36,779
4 years$32,057$30,837$29,671$28,557$27,491$25,785
5 years$25,389$24,177$23,026$21,934$20,898$19,257
6 years$20,945$19,742$18,609$17,541$16,536$14,961
7 years$17,773$16,579$15,464$14,422$13,448$11,941
8 years$15,394$14,212$13,115$12,098$11,157$9,717
9 years$13,545$12,374$11,296$10,305$9,396$8,022
10 years$12,067$10,907$9,848$8,883$8,005$6,697
11 years$10,858$9,710$8,670$7,731$6,885$5,641
12 years$9,851$8,715$7,694$6,781$5,966$4,785
13 years$9,000$7,876$6,874$5,986$5,203$4,083
14 years$8,271$7,159$6,177$5,314$4,561$3,500
15 years$7,640$6,540$5,577$4,739$4,016$3,013
16 years$7,089$6,000$5,056$4,243$3,549$2,602
17 years$6,602$5,526$4,601$3,813$3,147$2,253
18 years$6,171$5,106$4,200$3,436$2,798$1,956
19 years$5,785$4,732$3,845$3,105$2,494$1,702
20 years$5,438$4,398$3,529$2,812$2,228$1,483
21 years$5,124$4,096$3,246$2,552$1,993$1,294
22 years$4,840$3,824$2,991$2,320$1,787$1,131
23 years$4,581$3,576$2,762$2,113$1,604$989
24 years$4,343$3,351$2,554$1,927$1,442$867
25 years$4,125$3,144$2,366$1,760$1,297$760
26 years$3,924$2,955$2,194$1,609$1,169$666
27 years$3,738$2,781$2,038$1,473$1,054$585
28 years$3,566$2,621$1,894$1,350$951$514
29 years$3,406$2,472$1,763$1,238$858$451
30 years$3,257$2,335$1,642$1,136$776$397
31 years$3,118$2,207$1,531$1,043$701$349
32 years$2,987$2,088$1,428$959$634$307
33 years$2,865$1,978$1,333$882$574$270
34 years$2,751$1,875$1,246$811$520$238
35 years$2,643$1,778$1,165$747$471$209
36 years$2,541$1,688$1,090$688$427$184
37 years$2,445$1,603$1,020$634$387$162
38 years$2,355$1,523$955$584$350$143
39 years$2,269$1,448$895$539$318$126
40 years$2,187$1,378$839$497$288$111
41 years$2,110$1,312$786$458$262$98
42 years$2,037$1,249$738$423$237$86
43 years$1,967$1,190$692$390$215$76
44 years$1,901$1,135$650$361$195$67
45 years$1,838$1,082$610$333$177$59
46 years$1,778$1,032$573$308$161$52
47 years$1,720$985$538$284$146$46
48 years$1,665$940$506$263$133$40
49 years$1,612$898$476$243$121$36
50 years$1,562$858$447$224$110$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 76 starting with $1,600,000, adding $7,000 every year, while hoping to spend $38,208 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: 62/18/20 Blend
75$1,600,000$1,600,000$1,600,000$1,600,000
76$1,770,421$1,685,621$1,660,821$1,870,624
77$1,910,350$1,727,563$1,675,805$1,981,017
78$2,063,273$1,770,280$1,690,011$2,096,603
79$2,230,472$1,813,769$1,703,372$2,221,917
80$2,413,363$1,858,027$1,715,818$2,357,912
81$2,613,504$1,903,048$1,727,275$2,505,636
82$2,832,609$1,948,825$1,737,667$2,666,243
83$3,072,567$1,995,350$1,746,911$2,841,006
84$3,335,459$2,042,612$1,754,922$3,031,326
85$3,623,575$2,090,599$1,761,611$3,238,747
86$3,939,437$2,139,296$1,766,883$3,464,970
87$4,285,825$2,188,686$1,770,639$3,711,872
88$4,665,798$2,238,751$1,772,774$3,981,516
89$5,082,726$2,289,467$1,773,179$4,276,181
90$5,540,324$2,340,810$1,771,740$4,598,373
91$6,042,680$2,392,753$1,768,336$4,950,858
92$6,594,300$2,445,264$1,762,842$5,336,682
93$7,200,145$2,498,309$1,755,124$5,759,201
94$7,865,684$2,551,850$1,745,044$6,222,115
95$8,596,938$2,605,844$1,732,457$6,729,502
96$9,400,541$2,660,247$1,717,211$7,285,853
97$10,283,804$2,715,007$1,699,145$7,896,121
98$11,254,779$2,770,069$1,678,093$8,565,763
99$12,322,337$2,825,373$1,653,880$9,300,792
100$13,496,252$2,880,853$1,626,321$10,107,837