Can I retire at age 77 with 980,000?

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 $980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$80,927$80,207$79,503$78,817$78,147$77,395
2 years$40,063$39,317$38,594$37,893$37,213$36,455
3 years$26,443$25,694$24,973$24,278$23,609$22,870
4 years$19,635$18,888$18,174$17,491$16,838$16,123
5 years$15,551$14,808$14,104$13,435$12,800$12,110
6 years$12,829$12,092$11,398$10,744$10,128$9,465
7 years$10,886$10,155$9,472$8,833$8,237$7,601
8 years$9,429$8,705$8,033$7,410$6,833$6,224
9 years$8,296$7,579$6,919$6,312$5,755$5,172
10 years$7,391$6,680$6,032$5,441$4,903$4,347
11 years$6,650$5,947$5,310$4,735$4,217$3,686
12 years$6,034$5,338$4,713$4,153$3,654$3,149
13 years$5,513$4,824$4,211$3,667$3,187$2,706
14 years$5,066$4,385$3,783$3,255$2,793$2,337
15 years$4,680$4,006$3,416$2,903$2,460$2,026
16 years$4,342$3,675$3,097$2,599$2,174$1,763
17 years$4,044$3,385$2,818$2,335$1,927$1,539
18 years$3,779$3,128$2,572$2,105$1,714$1,347
19 years$3,543$2,899$2,355$1,902$1,528$1,181
20 years$3,331$2,693$2,161$1,722$1,364$1,037
21 years$3,139$2,509$1,988$1,563$1,221$913
22 years$2,964$2,342$1,832$1,421$1,094$804
23 years$2,806$2,190$1,692$1,294$982$710
24 years$2,660$2,052$1,565$1,181$883$627
25 years$2,527$1,926$1,449$1,078$795$554
26 years$2,403$1,810$1,344$986$716$490
27 years$2,290$1,703$1,248$902$645$434
28 years$2,184$1,605$1,160$827$582$385
29 years$2,086$1,514$1,080$758$526$341
30 years$1,995$1,430$1,006$696$475$303
31 years$1,910$1,352$938$639$430$268
32 years$1,830$1,279$875$587$389$238
33 years$1,755$1,211$817$540$352$212
34 years$1,685$1,148$763$497$318$188
35 years$1,619$1,089$713$457$288$167
36 years$1,556$1,034$667$421$261$148
37 years$1,498$982$625$388$237$132
38 years$1,442$933$585$358$215$117
39 years$1,390$887$548$330$195$104
40 years$1,340$844$514$304$177$93
41 years$1,293$803$482$281$160$83
42 years$1,248$765$452$259$145$73
43 years$1,205$729$424$239$132$65
44 years$1,164$695$398$221$120$58
45 years$1,126$663$374$204$109$52
46 years$1,089$632$351$188$99$46
47 years$1,054$603$330$174$90$41
48 years$1,020$576$310$161$81$36
49 years$988$550$291$149$74$32
50 years$957$525$274$137$67$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 77 starting with $980,000, adding $6,366 every year, while hoping to spend $41,187 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: 67/25/8 Blend
76$980,000$980,000$980,000$980,000
77$1,086,527$1,034,587$1,019,397$1,157,283
78$1,153,530$1,041,459$1,009,724$1,211,953
79$1,225,987$1,047,287$998,346$1,266,153
80$1,304,410$1,051,977$985,164$1,324,315
81$1,389,364$1,055,428$970,071$1,386,820
82$1,481,469$1,057,534$952,958$1,454,087
83$1,581,405$1,058,179$933,709$1,526,582
84$1,689,923$1,057,245$912,202$1,604,817
85$1,807,847$1,054,601$888,313$1,689,355
86$1,936,084$1,050,114$861,908$1,780,820
87$2,075,632$1,043,637$832,850$1,879,900
88$2,227,589$1,035,018$800,993$1,987,354
89$2,393,164$1,024,094$766,186$2,104,018
90$2,573,685$1,010,693$728,272$2,230,817
91$2,770,617$994,633$687,085$2,368,769
92$2,985,570$975,720$642,453$2,519,000
93$3,220,317$953,749$594,194$2,682,748
94$3,476,811$928,504$542,120$2,861,385
95$3,757,199$899,754$486,035$3,056,419
96$4,063,848$867,257$425,732$3,269,516
97$4,399,363$830,755$360,996$3,502,516
98$4,766,612$789,976$291,604$3,757,446
99$5,168,753$744,632$217,320$4,036,544
100$5,609,266$694,418$137,899$4,342,277