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

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 $1,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$132,127$130,950$129,801$128,681$127,586$125,836
2 years$65,409$64,191$63,010$61,866$60,755$58,995
3 years$43,173$41,950$40,772$39,638$38,546$36,830
4 years$32,057$30,837$29,671$28,557$27,491$25,833
5 years$25,389$24,177$23,026$21,934$20,898$19,303
6 years$20,945$19,742$18,609$17,541$16,536$15,005
7 years$17,773$16,579$15,464$14,422$13,448$11,983
8 years$15,394$14,212$13,115$12,098$11,157$9,756
9 years$13,545$12,374$11,296$10,305$9,396$8,059
10 years$12,067$10,907$9,848$8,883$8,005$6,733
11 years$10,858$9,710$8,670$7,731$6,885$5,674
12 years$9,851$8,715$7,694$6,781$5,966$4,817
13 years$9,000$7,876$6,874$5,986$5,203$4,112
14 years$8,271$7,159$6,177$5,314$4,561$3,528
15 years$7,640$6,540$5,577$4,739$4,016$3,039
16 years$7,089$6,000$5,056$4,243$3,549$2,626
17 years$6,602$5,526$4,601$3,813$3,147$2,276
18 years$6,171$5,106$4,200$3,436$2,798$1,977
19 years$5,785$4,732$3,845$3,105$2,494$1,721
20 years$5,438$4,398$3,529$2,812$2,228$1,501
21 years$5,124$4,096$3,246$2,552$1,993$1,311
22 years$4,840$3,824$2,991$2,320$1,787$1,146
23 years$4,581$3,576$2,762$2,113$1,604$1,004
24 years$4,343$3,351$2,554$1,927$1,442$880
25 years$4,125$3,144$2,366$1,760$1,297$772
26 years$3,924$2,955$2,194$1,609$1,169$678
27 years$3,738$2,781$2,038$1,473$1,054$595
28 years$3,566$2,621$1,894$1,350$951$523
29 years$3,406$2,472$1,763$1,238$858$460
30 years$3,257$2,335$1,642$1,136$776$405
31 years$3,118$2,207$1,531$1,043$701$356
32 years$2,987$2,088$1,428$959$634$314
33 years$2,865$1,978$1,333$882$574$276
34 years$2,751$1,875$1,246$811$520$243
35 years$2,643$1,778$1,165$747$471$214
36 years$2,541$1,688$1,090$688$427$189
37 years$2,445$1,603$1,020$634$387$167
38 years$2,355$1,523$955$584$350$147
39 years$2,269$1,448$895$539$318$129
40 years$2,187$1,378$839$497$288$114
41 years$2,110$1,312$786$458$262$101
42 years$2,037$1,249$738$423$237$89
43 years$1,967$1,190$692$390$215$78
44 years$1,901$1,135$650$361$195$69
45 years$1,838$1,082$610$333$177$61
46 years$1,778$1,032$573$308$161$54
47 years$1,720$985$538$284$146$47
48 years$1,665$940$506$263$133$42
49 years$1,612$898$476$243$121$37
50 years$1,562$858$447$224$110$33

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 $2,586 every year, while hoping to spend $32,322 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: 66/19/15 Blend
75$1,600,000$1,600,000$1,600,000$1,600,000
76$1,765,867$1,681,067$1,656,267$1,875,949
77$1,911,596$1,729,049$1,677,362$1,997,800
78$2,071,105$1,778,299$1,698,080$2,126,930
79$2,245,766$1,828,845$1,718,375$2,267,277
80$2,437,091$1,880,714$1,738,197$2,419,936
81$2,646,741$1,933,937$1,757,493$2,586,115
82$2,876,550$1,988,541$1,776,211$2,767,145
83$3,128,534$2,044,555$1,794,290$2,964,488
84$3,404,916$2,102,010$1,811,669$3,179,758
85$3,708,142$2,160,933$1,828,285$3,414,731
86$4,040,910$2,221,356$1,844,070$3,671,362
87$4,406,187$2,283,307$1,858,951$3,951,807
88$4,807,246$2,346,817$1,872,853$4,258,439
89$5,247,689$2,411,914$1,885,698$4,593,872
90$5,731,485$2,478,630$1,897,401$4,960,987
91$6,263,007$2,546,994$1,907,874$5,362,955
92$6,847,073$2,617,035$1,917,027$5,803,273
93$7,488,987$2,688,783$1,924,761$6,285,790
94$8,194,598$2,762,268$1,930,974$6,814,750
95$8,970,346$2,837,518$1,935,561$7,394,826
96$9,823,327$2,914,562$1,938,408$8,031,168
97$10,761,359$2,993,428$1,939,397$8,729,449
98$11,793,057$3,074,145$1,938,406$9,495,921
99$12,927,909$3,156,739$1,935,303$10,337,472
100$14,176,373$3,241,236$1,929,953$11,261,692