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%14.6%
1 years$88,360$87,573$86,805$86,055$85,323$83,703
2 years$43,742$42,928$42,138$41,373$40,630$39,004
3 years$28,872$28,054$27,266$26,508$25,777$24,196
4 years$21,438$20,622$19,843$19,097$18,385$16,861
5 years$16,979$16,168$15,399$14,669$13,976$12,513
6 years$14,007$13,203$12,445$11,731$11,059$9,659
7 years$11,885$11,088$10,341$9,644$8,994$7,657
8 years$10,295$9,504$8,770$8,090$7,461$6,188
9 years$9,058$8,275$7,554$6,891$6,283$5,072
10 years$8,070$7,294$6,586$5,940$5,354$4,204
11 years$7,261$6,493$5,798$5,170$4,604$3,514
12 years$6,588$5,828$5,146$4,535$3,990$2,958
13 years$6,019$5,267$4,597$4,003$3,479$2,504
14 years$5,531$4,788$4,131$3,554$3,050$2,129
15 years$5,109$4,373$3,729$3,169$2,685$1,818
16 years$4,741$4,013$3,381$2,838$2,373$1,557
17 years$4,415$3,695$3,077$2,550$2,104$1,337
18 years$4,127$3,415$2,809$2,298$1,871$1,150
19 years$3,869$3,165$2,571$2,076$1,668$992
20 years$3,637$2,941$2,360$1,880$1,490$857
21 years$3,427$2,739$2,171$1,707$1,333$741
22 years$3,237$2,557$2,000$1,552$1,195$642
23 years$3,063$2,392$1,847$1,413$1,073$556
24 years$2,904$2,241$1,708$1,289$964$482
25 years$2,759$2,103$1,582$1,177$868$419
26 years$2,624$1,976$1,467$1,076$781$364
27 years$2,500$1,860$1,363$985$705$316
28 years$2,385$1,753$1,267$903$636$275
29 years$2,278$1,653$1,179$828$574$239
30 years$2,178$1,561$1,098$760$519$208
31 years$2,085$1,476$1,024$698$469$181
32 years$1,998$1,397$955$641$424$158
33 years$1,916$1,323$892$590$384$138
34 years$1,840$1,254$833$543$348$120
35 years$1,767$1,189$779$499$315$105
36 years$1,699$1,129$729$460$285$91
37 years$1,635$1,072$682$424$259$79
38 years$1,575$1,019$639$391$234$69
39 years$1,517$969$598$360$213$60
40 years$1,463$922$561$332$193$53
41 years$1,411$877$526$306$175$46
42 years$1,362$835$493$283$159$40
43 years$1,316$796$463$261$144$35
44 years$1,271$759$435$241$131$30
45 years$1,229$724$408$223$119$27
46 years$1,189$690$383$206$108$23
47 years$1,150$659$360$190$98$20
48 years$1,113$629$338$176$89$18
49 years$1,078$600$318$162$81$15
50 years$1,045$574$299$150$73$13

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 $4,825 every year, while hoping to spend $52,473 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: 88/6/6 Blend
77$1,070,000$1,070,000$1,070,000$1,070,000
78$1,184,117$1,127,407$1,110,822$1,287,679
79$1,249,066$1,126,819$1,092,204$1,355,232
80$1,318,881$1,124,444$1,071,203$1,421,650
81$1,394,004$1,120,138$1,047,685$1,492,943
82$1,474,917$1,113,750$1,021,507$1,569,562
83$1,562,154$1,105,118$992,523$1,652,003
84$1,656,297$1,094,073$960,576$1,740,812
85$1,757,990$1,080,433$925,506$1,836,591
86$1,867,937$1,064,007$887,143$1,940,001
87$1,986,914$1,044,590$845,309$2,051,770
88$2,115,772$1,021,968$799,820$2,172,701
89$2,255,449$995,912$750,482$2,303,674
90$2,406,974$966,182$697,093$2,445,663
91$2,571,482$932,521$639,442$2,599,737
92$2,750,218$894,659$577,307$2,767,073
93$2,944,553$852,310$510,460$2,948,970
94$3,155,995$805,171$438,658$3,146,856
95$3,386,204$752,922$361,650$3,362,305
96$3,637,005$695,224$279,174$3,597,050
97$3,910,409$631,719$190,956$3,853,000
98$4,208,626$562,028$96,708$4,132,260
99$4,534,091$485,753$0$4,437,146
100$4,889,483$402,470$0$4,770,458