Can I retire at age 78 with 1,080,000?

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 $1,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$89,185$88,391$87,616$86,859$86,121$84,624
2 years$44,151$43,329$42,532$41,759$41,010$39,507
3 years$29,142$28,316$27,521$26,756$26,018$24,556
4 years$21,638$20,815$20,028$19,276$18,557$17,146
5 years$17,138$16,319$15,543$14,806$14,106$12,752
6 years$14,138$13,326$12,561$11,840$11,162$9,864
7 years$11,997$11,191$10,438$9,735$9,078$7,838
8 years$10,391$9,593$8,852$8,166$7,531$6,348
9 years$9,143$8,352$7,625$6,956$6,342$5,216
10 years$8,145$7,362$6,647$5,996$5,404$4,334
11 years$7,329$6,554$5,852$5,218$4,647$3,632
12 years$6,650$5,883$5,194$4,577$4,027$3,065
13 years$6,075$5,316$4,640$4,041$3,512$2,602
14 years$5,583$4,832$4,169$3,587$3,078$2,218
15 years$5,157$4,414$3,764$3,199$2,711$1,899
16 years$4,785$4,050$3,413$2,864$2,396$1,631
17 years$4,457$3,730$3,106$2,574$2,124$1,404
18 years$4,165$3,447$2,835$2,319$1,889$1,212
19 years$3,905$3,194$2,595$2,096$1,683$1,048
20 years$3,671$2,968$2,382$1,898$1,504$908
21 years$3,459$2,765$2,191$1,723$1,346$788
22 years$3,267$2,581$2,019$1,566$1,206$684
23 years$3,092$2,414$1,864$1,426$1,083$595
24 years$2,932$2,262$1,724$1,301$973$518
25 years$2,784$2,122$1,597$1,188$876$451
26 years$2,649$1,995$1,481$1,086$789$393
27 years$2,523$1,877$1,375$994$711$343
28 years$2,407$1,769$1,279$911$642$299
29 years$2,299$1,669$1,190$835$579$261
30 years$2,198$1,576$1,108$767$524$228
31 years$2,104$1,490$1,033$704$473$199
32 years$2,017$1,410$964$647$428$174
33 years$1,934$1,335$900$595$387$152
34 years$1,857$1,265$841$548$351$133
35 years$1,784$1,200$786$504$318$116
36 years$1,715$1,139$736$464$288$102
37 years$1,651$1,082$688$428$261$89
38 years$1,589$1,028$645$394$237$78
39 years$1,531$978$604$364$215$68
40 years$1,477$930$566$335$195$60
41 years$1,424$885$531$309$177$52
42 years$1,375$843$498$285$160$46
43 years$1,328$803$467$264$145$40
44 years$1,283$766$439$243$132$35
45 years$1,241$730$412$225$120$31
46 years$1,200$697$387$208$109$27
47 years$1,161$665$363$192$99$23
48 years$1,124$635$341$177$90$21
49 years$1,088$606$321$164$81$18
50 years$1,054$579$302$151$74$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 78 starting with $1,080,000, adding $3,196 every year, while hoping to spend $45,111 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: 75/14/11 Blend
77$1,080,000$1,080,000$1,080,000$1,080,000
78$1,193,457$1,136,217$1,119,477$1,280,237
79$1,267,192$1,143,894$1,108,981$1,345,578
80$1,346,935$1,150,435$1,096,623$1,411,174
81$1,433,254$1,155,737$1,082,290$1,481,801
82$1,526,767$1,159,690$1,065,869$1,557,944
83$1,628,160$1,162,177$1,047,238$1,640,137
84$1,738,184$1,163,075$1,026,272$1,728,969
85$1,857,664$1,162,251$1,002,838$1,825,088
86$1,987,510$1,159,566$976,797$1,929,209
87$2,128,722$1,154,871$948,006$2,042,122
88$2,282,400$1,148,008$916,312$2,164,694
89$2,449,755$1,138,809$881,558$2,297,885
90$2,632,117$1,127,099$843,578$2,442,749
91$2,830,954$1,112,688$802,199$2,600,453
92$3,047,879$1,095,377$757,240$2,772,279
93$3,284,668$1,074,955$708,512$2,959,643
94$3,543,275$1,051,199$655,818$3,164,105
95$3,825,852$1,023,871$598,952$3,387,386
96$4,134,769$992,721$537,696$3,631,384
97$4,472,633$957,482$471,827$3,898,188
98$4,842,318$917,875$401,110$4,190,107
99$5,246,985$873,601$325,297$4,509,680
100$5,690,117$824,347$244,134$4,859,713