Can I retire at age 78 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$87,534$86,754$85,993$85,251$84,526$82,282
2 years$43,334$42,527$41,744$40,986$40,250$38,006
3 years$28,602$27,792$27,011$26,260$25,537$23,361
4 years$21,238$20,430$19,657$18,919$18,213$16,123
5 years$16,820$16,017$15,255$14,532$13,845$11,847
6 years$13,876$13,079$12,328$11,621$10,955$9,051
7 years$11,774$10,984$10,245$9,554$8,909$7,098
8 years$10,199$9,415$8,688$8,015$7,391$5,673
9 years$8,974$8,198$7,483$6,827$6,225$4,597
10 years$7,994$7,226$6,524$5,885$5,304$3,766
11 years$7,193$6,433$5,744$5,122$4,561$3,110
12 years$6,526$5,774$5,097$4,492$3,953$2,586
13 years$5,963$5,218$4,554$3,966$3,447$2,161
14 years$5,480$4,743$4,092$3,521$3,021$1,814
15 years$5,062$4,333$3,695$3,140$2,660$1,528
16 years$4,696$3,975$3,350$2,811$2,351$1,291
17 years$4,374$3,661$3,048$2,526$2,085$1,094
18 years$4,088$3,383$2,782$2,276$1,854$928
19 years$3,832$3,135$2,547$2,057$1,652$789
20 years$3,603$2,913$2,338$1,863$1,476$672
21 years$3,395$2,714$2,150$1,691$1,321$573
22 years$3,206$2,533$1,982$1,537$1,184$489
23 years$3,035$2,369$1,830$1,400$1,063$417
24 years$2,877$2,220$1,692$1,277$955$357
25 years$2,733$2,083$1,567$1,166$859$305
26 years$2,600$1,958$1,454$1,066$774$261
27 years$2,477$1,843$1,350$976$698$223
28 years$2,363$1,736$1,255$894$630$191
29 years$2,256$1,638$1,168$820$569$164
30 years$2,158$1,547$1,088$753$514$140
31 years$2,065$1,462$1,014$691$465$120
32 years$1,979$1,384$946$635$420$103
33 years$1,898$1,310$883$584$380$88
34 years$1,822$1,242$825$537$344$76
35 years$1,751$1,178$772$495$312$65
36 years$1,684$1,118$722$456$283$56
37 years$1,620$1,062$676$420$256$48
38 years$1,560$1,009$633$387$232$41
39 years$1,503$960$593$357$211$35
40 years$1,449$913$556$329$191$30
41 years$1,398$869$521$304$173$26
42 years$1,350$828$489$280$157$22
43 years$1,303$789$459$259$143$19
44 years$1,259$752$430$239$130$16
45 years$1,218$717$404$221$118$14
46 years$1,178$684$380$204$107$12
47 years$1,140$653$357$188$97$10
48 years$1,103$623$335$174$88$9
49 years$1,068$595$315$161$80$8
50 years$1,035$568$296$149$73$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 78 starting with $1,060,000, adding $3,915 every year, while hoping to spend $37,635 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: 45/48/7 Blend
77$1,060,000$1,060,000$1,060,000$1,060,000
78$1,172,158$1,115,978$1,099,548$1,222,448
79$1,251,675$1,130,618$1,096,340$1,272,183
80$1,338,041$1,144,713$1,091,763$1,321,869
81$1,431,916$1,158,199$1,085,731$1,374,868
82$1,534,023$1,171,002$1,078,155$1,431,498
83$1,645,161$1,183,049$1,068,941$1,492,110
84$1,766,208$1,194,259$1,057,990$1,557,091
85$1,898,128$1,204,544$1,045,200$1,626,870
86$2,041,984$1,213,814$1,030,461$1,701,919
87$2,198,947$1,221,971$1,013,662$1,782,761
88$2,370,303$1,228,912$994,683$1,869,974
89$2,557,470$1,234,525$973,401$1,964,197
90$2,762,008$1,238,692$949,687$2,066,133
91$2,985,635$1,241,290$923,403$2,176,564
92$3,230,242$1,242,186$894,409$2,296,349
93$3,497,911$1,241,237$862,556$2,426,439
94$3,790,934$1,238,294$827,689$2,567,885
95$4,111,838$1,233,199$789,645$2,721,848
96$4,463,402$1,225,783$748,254$2,889,609
97$4,848,689$1,215,866$703,340$3,072,583
98$5,271,070$1,203,258$654,717$3,272,334
99$5,734,261$1,187,759$602,192$3,490,590
100$6,242,351$1,169,155$545,561$3,729,256