Can I retire at age 78 with 1,070,000?

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$88,360$87,573$86,805$86,055$85,323$84,397
2 years$43,742$42,928$42,138$41,373$40,630$39,698
3 years$28,872$28,054$27,266$26,508$25,777$24,867
4 years$21,438$20,622$19,843$19,097$18,385$17,504
5 years$16,979$16,168$15,399$14,669$13,976$13,128
6 years$14,007$13,203$12,445$11,731$11,059$10,244
7 years$11,885$11,088$10,341$9,644$8,994$8,212
8 years$10,295$9,504$8,770$8,090$7,461$6,713
9 years$9,058$8,275$7,554$6,891$6,283$5,568
10 years$8,070$7,294$6,586$5,940$5,354$4,672
11 years$7,261$6,493$5,798$5,170$4,604$3,954
12 years$6,588$5,828$5,146$4,535$3,990$3,372
13 years$6,019$5,267$4,597$4,003$3,479$2,892
14 years$5,531$4,788$4,131$3,554$3,050$2,492
15 years$5,109$4,373$3,729$3,169$2,685$2,157
16 years$4,741$4,013$3,381$2,838$2,373$1,873
17 years$4,415$3,695$3,077$2,550$2,104$1,631
18 years$4,127$3,415$2,809$2,298$1,871$1,424
19 years$3,869$3,165$2,571$2,076$1,668$1,246
20 years$3,637$2,941$2,360$1,880$1,490$1,092
21 years$3,427$2,739$2,171$1,707$1,333$959
22 years$3,237$2,557$2,000$1,552$1,195$843
23 years$3,063$2,392$1,847$1,413$1,073$742
24 years$2,904$2,241$1,708$1,289$964$654
25 years$2,759$2,103$1,582$1,177$868$577
26 years$2,624$1,976$1,467$1,076$781$509
27 years$2,500$1,860$1,363$985$705$450
28 years$2,385$1,753$1,267$903$636$398
29 years$2,278$1,653$1,179$828$574$352
30 years$2,178$1,561$1,098$760$519$311
31 years$2,085$1,476$1,024$698$469$275
32 years$1,998$1,397$955$641$424$244
33 years$1,916$1,323$892$590$384$216
34 years$1,840$1,254$833$543$348$191
35 years$1,767$1,189$779$499$315$170
36 years$1,699$1,129$729$460$285$150
37 years$1,635$1,072$682$424$259$133
38 years$1,575$1,019$639$391$234$118
39 years$1,517$969$598$360$213$105
40 years$1,463$922$561$332$193$93
41 years$1,411$877$526$306$175$83
42 years$1,362$835$493$283$159$73
43 years$1,316$796$463$261$144$65
44 years$1,271$759$435$241$131$58
45 years$1,229$724$408$223$119$51
46 years$1,189$690$383$206$108$45
47 years$1,150$659$360$190$98$40
48 years$1,113$629$338$176$89$36
49 years$1,078$600$318$162$81$32
50 years$1,045$574$299$150$73$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 78 starting with $1,070,000, adding $6,034 every year, while hoping to spend $47,317 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: 68/5/27 Blend
77$1,070,000$1,070,000$1,070,000$1,070,000
78$1,185,364$1,128,654$1,112,069$1,257,276
79$1,255,926$1,133,613$1,098,978$1,311,334
80$1,332,100$1,137,229$1,083,863$1,364,516
81$1,414,408$1,139,387$1,066,606$1,421,624
82$1,503,423$1,139,963$1,047,084$1,483,047
83$1,599,778$1,138,827$1,025,166$1,549,217
84$1,704,165$1,135,840$1,000,720$1,620,608
85$1,817,349$1,130,854$973,602$1,697,744
86$1,940,166$1,123,714$943,666$1,781,205
87$2,073,541$1,114,254$910,757$1,871,630
88$2,218,488$1,102,298$874,712$1,969,727
89$2,376,122$1,087,659$835,364$2,076,274
90$2,547,673$1,070,141$792,535$2,192,132
91$2,734,491$1,049,533$746,041$2,318,251
92$2,938,064$1,025,615$695,688$2,455,681
93$3,160,028$998,152$641,275$2,605,580
94$3,402,184$966,894$582,591$2,769,225
95$3,666,515$931,580$519,415$2,948,027
96$3,955,203$891,931$451,519$3,143,543
97$4,270,650$847,652$378,661$3,357,491
98$4,615,501$798,432$300,591$3,591,766
99$4,992,668$743,941$217,047$3,848,461
100$5,405,358$683,831$127,756$4,129,883