Can I retire at age 77 with 1,020,000?

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 $1,020,000?

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$84,231$83,480$82,748$82,034$81,336$80,858
2 years$41,698$40,922$40,169$39,439$38,732$38,249
3 years$27,523$26,743$25,992$25,269$24,573$24,101
4 years$20,436$19,659$18,916$18,205$17,526$17,068
5 years$16,186$15,413$14,679$13,983$13,323$12,880
6 years$13,353$12,586$11,863$11,182$10,542$10,116
7 years$11,330$10,569$9,858$9,194$8,573$8,164
8 years$9,814$9,060$8,361$7,712$7,112$6,719
9 years$8,635$7,888$7,201$6,569$5,990$5,613
10 years$7,692$6,953$6,278$5,663$5,103$4,743
11 years$6,922$6,190$5,527$4,928$4,389$4,045
12 years$6,280$5,556$4,905$4,323$3,804$3,475
13 years$5,738$5,021$4,382$3,816$3,317$3,003
14 years$5,273$4,564$3,938$3,388$2,907$2,609
15 years$4,871$4,169$3,555$3,021$2,560$2,276
16 years$4,519$3,825$3,223$2,705$2,262$1,993
17 years$4,209$3,523$2,933$2,431$2,006$1,750
18 years$3,934$3,255$2,677$2,190$1,784$1,541
19 years$3,688$3,017$2,451$1,979$1,590$1,360
20 years$3,467$2,803$2,249$1,793$1,420$1,203
21 years$3,267$2,611$2,069$1,627$1,271$1,065
22 years$3,085$2,438$1,907$1,479$1,139$945
23 years$2,920$2,280$1,761$1,347$1,023$840
24 years$2,769$2,136$1,628$1,229$919$747
25 years$2,630$2,005$1,508$1,122$827$665
26 years$2,502$1,884$1,399$1,026$745$592
27 years$2,383$1,773$1,299$939$672$528
28 years$2,273$1,671$1,208$860$606$472
29 years$2,171$1,576$1,124$789$547$421
30 years$2,076$1,488$1,047$724$494$376
31 years$1,988$1,407$976$665$447$336
32 years$1,905$1,331$910$611$404$301
33 years$1,827$1,261$850$562$366$269
34 years$1,754$1,195$794$517$331$241
35 years$1,685$1,133$743$476$300$216
36 years$1,620$1,076$695$438$272$193
37 years$1,559$1,022$650$404$246$173
38 years$1,501$971$609$372$223$155
39 years$1,446$923$570$343$203$139
40 years$1,395$879$535$317$184$124
41 years$1,345$836$501$292$167$112
42 years$1,299$796$470$270$151$100
43 years$1,254$759$441$249$137$90
44 years$1,212$723$414$230$125$80
45 years$1,172$690$389$212$113$72
46 years$1,133$658$365$196$103$65
47 years$1,097$628$343$181$93$58
48 years$1,061$599$323$167$85$52
49 years$1,028$572$303$155$77$47
50 years$996$547$285$143$70$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 77 starting with $1,020,000, adding $3,349 every year, while hoping to spend $35,045 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: 58/36/6 Blend
76$1,020,000$1,020,000$1,020,000$1,020,000
77$1,127,494$1,073,434$1,057,624$1,191,332
78$1,205,211$1,088,745$1,055,767$1,249,883
79$1,289,681$1,103,632$1,052,673$1,309,395
80$1,381,554$1,118,036$1,048,264$1,373,379
81$1,481,550$1,131,896$1,042,458$1,442,264
82$1,590,455$1,145,146$1,035,167$1,516,526
83$1,709,139$1,157,716$1,026,303$1,596,686
84$1,838,558$1,169,531$1,015,771$1,683,322
85$1,979,762$1,180,509$1,003,470$1,777,068
86$2,133,910$1,190,566$989,299$1,878,628
87$2,302,275$1,199,611$973,147$1,988,773
88$2,486,261$1,207,545$954,901$2,108,357
89$2,687,412$1,214,267$934,443$2,238,321
90$2,907,428$1,219,667$911,647$2,379,702
91$3,148,182$1,223,627$886,383$2,533,645
92$3,411,735$1,226,023$858,515$2,701,413
93$3,700,357$1,226,723$827,901$2,884,397
94$4,016,548$1,225,587$794,390$3,084,135
95$4,363,062$1,222,466$757,828$3,302,319
96$4,742,930$1,217,203$718,050$3,540,817
97$5,159,492$1,209,628$674,888$3,801,692
98$5,616,425$1,199,566$628,162$4,087,215
99$6,117,782$1,186,826$577,687$4,399,893
100$6,668,024$1,171,209$523,268$4,742,492