Can I retire at age 76 with 1,940,000?

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:
Modify Bond Returns:
Modify Cash Returns:
Modify Inflation:
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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
1 years$160,203$158,776$157,384$156,025$154,698$153,788
2 years$79,309$77,832$76,400$75,012$73,666$72,747
3 years$52,347$50,864$49,436$48,061$46,737$45,838
4 years$38,869$37,390$35,977$34,625$33,333$32,462
5 years$30,784$29,314$27,919$26,596$25,339$24,498
6 years$25,396$23,937$22,563$21,269$20,050$19,240
7 years$21,549$20,103$18,750$17,486$16,306$15,527
8 years$18,665$17,232$15,901$14,669$13,527$12,780
9 years$16,423$15,003$13,696$12,494$11,392$10,676
10 years$14,631$13,225$11,940$10,770$9,707$9,021
11 years$13,165$11,773$10,512$9,373$8,348$7,693
12 years$11,945$10,567$9,329$8,222$7,234$6,609
13 years$10,913$9,549$8,335$7,259$6,308$5,712
14 years$10,029$8,680$7,489$6,443$5,530$4,962
15 years$9,264$7,929$6,762$5,746$4,869$4,329
16 years$8,595$7,275$6,130$5,145$4,303$3,790
17 years$8,005$6,700$5,578$4,623$3,816$3,329
18 years$7,482$6,191$5,092$4,166$3,393$2,931
19 years$7,014$5,738$4,662$3,765$3,024$2,587
20 years$6,593$5,332$4,278$3,409$2,701$2,288
21 years$6,213$4,967$3,935$3,094$2,417$2,026
22 years$5,868$4,636$3,627$2,813$2,167$1,798
23 years$5,554$4,336$3,349$2,562$1,945$1,597
24 years$5,266$4,063$3,097$2,337$1,748$1,420
25 years$5,002$3,813$2,869$2,134$1,573$1,265
26 years$4,758$3,583$2,660$1,951$1,417$1,127
27 years$4,533$3,372$2,470$1,786$1,277$1,005
28 years$4,324$3,178$2,297$1,637$1,153$897
29 years$4,130$2,998$2,137$1,501$1,041$801
30 years$3,949$2,831$1,991$1,377$940$716
31 years$3,780$2,676$1,856$1,265$850$640
32 years$3,622$2,532$1,732$1,163$769$572
33 years$3,474$2,398$1,617$1,069$696$512
34 years$3,335$2,273$1,511$984$630$458
35 years$3,204$2,156$1,412$905$571$410
36 years$3,081$2,046$1,321$834$517$367
37 years$2,965$1,943$1,237$768$469$329
38 years$2,855$1,847$1,158$708$425$295
39 years$2,751$1,756$1,085$653$385$264
40 years$2,652$1,671$1,017$602$350$237
41 years$2,559$1,591$954$556$317$212
42 years$2,470$1,515$894$513$288$190
43 years$2,385$1,443$839$473$261$171
44 years$2,305$1,376$788$437$237$153
45 years$2,228$1,312$740$404$215$137
46 years$2,155$1,251$695$373$195$123
47 years$2,086$1,194$653$345$177$110
48 years$2,019$1,140$613$318$161$99
49 years$1,955$1,089$577$294$146$89
50 years$1,894$1,040$542$272$133$80

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 76 starting with $1,940,000, adding $6,144 every year, while hoping to spend $34,604 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: 51/30/19 Blend