Can I retire at age 78 with 1,020,000?

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 $1,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$84,231$83,480$82,748$82,034$81,336$80,554
2 years$41,698$40,922$40,169$39,439$38,732$37,943
3 years$27,523$26,743$25,992$25,269$24,573$23,803
4 years$20,436$19,659$18,916$18,205$17,526$16,781
5 years$16,186$15,413$14,679$13,983$13,323$12,605
6 years$13,353$12,586$11,863$11,182$10,542$9,851
7 years$11,330$10,569$9,858$9,194$8,573$7,911
8 years$9,814$9,060$8,361$7,712$7,112$6,478
9 years$8,635$7,888$7,201$6,569$5,990$5,383
10 years$7,692$6,953$6,278$5,663$5,103$4,524
11 years$6,922$6,190$5,527$4,928$4,389$3,837
12 years$6,280$5,556$4,905$4,323$3,804$3,278
13 years$5,738$5,021$4,382$3,816$3,317$2,816
14 years$5,273$4,564$3,938$3,388$2,907$2,432
15 years$4,871$4,169$3,555$3,021$2,560$2,109
16 years$4,519$3,825$3,223$2,705$2,262$1,835
17 years$4,209$3,523$2,933$2,431$2,006$1,602
18 years$3,934$3,255$2,677$2,190$1,784$1,402
19 years$3,688$3,017$2,451$1,979$1,590$1,229
20 years$3,467$2,803$2,249$1,793$1,420$1,080
21 years$3,267$2,611$2,069$1,627$1,271$950
22 years$3,085$2,438$1,907$1,479$1,139$837
23 years$2,920$2,280$1,761$1,347$1,023$739
24 years$2,769$2,136$1,628$1,229$919$652
25 years$2,630$2,005$1,508$1,122$827$577
26 years$2,502$1,884$1,399$1,026$745$510
27 years$2,383$1,773$1,299$939$672$452
28 years$2,273$1,671$1,208$860$606$400
29 years$2,171$1,576$1,124$789$547$355
30 years$2,076$1,488$1,047$724$494$315
31 years$1,988$1,407$976$665$447$279
32 years$1,905$1,331$910$611$404$248
33 years$1,827$1,261$850$562$366$220
34 years$1,754$1,195$794$517$331$196
35 years$1,685$1,133$743$476$300$174
36 years$1,620$1,076$695$438$272$155
37 years$1,559$1,022$650$404$246$137
38 years$1,501$971$609$372$223$122
39 years$1,446$923$570$343$203$109
40 years$1,395$879$535$317$184$97
41 years$1,345$836$501$292$167$86
42 years$1,299$796$470$270$151$76
43 years$1,254$759$441$249$137$68
44 years$1,212$723$414$230$125$61
45 years$1,172$690$389$212$113$54
46 years$1,133$658$365$196$103$48
47 years$1,097$628$343$181$93$43
48 years$1,061$599$323$167$85$38
49 years$1,028$572$303$155$77$34
50 years$996$547$285$143$70$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 78 starting with $1,020,000, adding $5,523 every year, while hoping to spend $54,072 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: 33/48/19 Blend
77$1,020,000$1,020,000$1,020,000$1,020,000
78$1,129,737$1,075,677$1,059,867$1,160,224
79$1,187,438$1,070,853$1,037,840$1,178,471
80$1,249,212$1,063,980$1,013,264$1,192,764
81$1,315,418$1,054,902$985,994$1,207,033
82$1,386,449$1,043,450$955,883$1,221,308
83$1,462,735$1,029,448$922,774$1,235,625
84$1,544,752$1,012,708$886,504$1,250,031
85$1,633,018$993,032$846,903$1,264,580
86$1,728,103$970,209$803,793$1,279,341
87$1,830,637$944,015$756,986$1,294,391
88$1,941,305$914,216$706,289$1,309,825
89$2,060,867$880,561$651,498$1,325,751
90$2,190,152$842,785$592,400$1,342,299
91$2,330,075$800,609$528,773$1,359,615
92$2,481,641$753,738$460,386$1,377,871
93$2,645,955$701,857$386,995$1,397,263
94$2,824,231$644,637$308,348$1,418,018
95$3,017,806$581,727$224,180$1,440,392
96$3,228,148$512,758$134,217$1,464,681
97$3,456,875$437,338$38,169$1,491,220
98$3,705,765$355,057$0$1,520,388
99$3,976,775$265,476$0$1,565,658
100$4,272,058$168,136$0$1,623,580