Can I retire at age 78 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$92,489$91,665$90,861$90,076$89,310$88,934
2 years$45,786$44,934$44,107$43,306$42,529$42,149
3 years$30,221$29,365$28,540$27,747$26,982$26,610
4 years$22,440$21,586$20,770$19,990$19,244$18,883
5 years$17,772$16,924$16,118$15,354$14,629$14,280
6 years$14,662$13,820$13,026$12,279$11,575$11,239
7 years$12,441$11,606$10,825$10,095$9,414$9,090
8 years$10,776$9,948$9,180$8,469$7,810$7,499
9 years$9,482$8,662$7,907$7,213$6,577$6,279
10 years$8,447$7,635$6,893$6,218$5,604$5,318
11 years$7,601$6,797$6,069$5,411$4,819$4,546
12 years$6,896$6,100$5,386$4,747$4,176$3,916
13 years$6,300$5,513$4,812$4,191$3,642$3,393
14 years$5,790$5,011$4,324$3,720$3,193$2,955
15 years$5,348$4,578$3,904$3,317$2,811$2,585
16 years$4,962$4,200$3,539$2,970$2,484$2,269
17 years$4,622$3,868$3,221$2,669$2,203$1,998
18 years$4,319$3,574$2,940$2,405$1,959$1,765
19 years$4,049$3,313$2,691$2,173$1,746$1,562
20 years$3,807$3,078$2,470$1,968$1,559$1,385
21 years$3,587$2,867$2,272$1,786$1,395$1,231
22 years$3,388$2,677$2,094$1,624$1,251$1,095
23 years$3,206$2,503$1,933$1,479$1,123$976
24 years$3,040$2,345$1,788$1,349$1,009$870
25 years$2,888$2,201$1,656$1,232$908$777
26 years$2,747$2,069$1,536$1,127$818$695
27 years$2,617$1,947$1,426$1,031$737$622
28 years$2,496$1,834$1,326$945$665$556
29 years$2,384$1,731$1,234$866$601$499
30 years$2,280$1,634$1,149$795$543$447
31 years$2,182$1,545$1,071$730$491$401
32 years$2,091$1,462$1,000$671$444$360
33 years$2,006$1,384$933$617$402$323
34 years$1,925$1,312$872$568$364$290
35 years$1,850$1,245$815$523$330$260
36 years$1,779$1,181$763$481$299$234
37 years$1,712$1,122$714$444$271$210
38 years$1,648$1,066$669$409$245$189
39 years$1,588$1,014$626$377$222$170
40 years$1,531$965$587$348$202$153
41 years$1,477$918$551$321$183$137
42 years$1,426$874$516$296$166$124
43 years$1,377$833$485$273$151$111
44 years$1,331$794$455$252$137$100
45 years$1,286$757$427$233$124$90
46 years$1,244$723$401$215$113$81
47 years$1,204$689$377$199$102$73
48 years$1,166$658$354$184$93$66
49 years$1,129$629$333$170$84$59
50 years$1,094$600$313$157$77$53

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 78 starting with $1,120,000, adding $5,631 every year, while hoping to spend $52,263 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: 50/32/18 Blend
77$1,120,000$1,120,000$1,120,000$1,120,000
78$1,240,048$1,180,688$1,163,328$1,295,592
79$1,310,926$1,182,935$1,146,692$1,336,770
80$1,387,281$1,183,539$1,127,748$1,375,648
81$1,469,618$1,182,367$1,106,361$1,416,775
82$1,558,490$1,179,273$1,082,395$1,460,382
83$1,654,503$1,174,106$1,055,703$1,506,725
84$1,758,328$1,166,702$1,026,134$1,556,090
85$1,870,697$1,156,890$993,529$1,608,795
86$1,992,417$1,144,487$957,722$1,665,192
87$2,124,377$1,129,300$918,539$1,725,673
88$2,267,552$1,111,124$875,798$1,790,673
89$2,423,015$1,089,742$829,310$1,860,676
90$2,591,947$1,064,924$778,876$1,936,218
91$2,775,646$1,036,425$724,289$2,017,894
92$2,975,541$1,003,989$665,332$2,106,365
93$3,193,204$967,342$601,778$2,202,363
94$3,430,364$926,196$533,391$2,306,701
95$3,688,926$880,244$459,924$2,420,279
96$3,970,983$829,163$381,119$2,544,095
97$4,278,843$772,611$296,706$2,679,255
98$4,615,043$710,228$206,404$2,826,984
99$4,982,379$641,629$109,919$2,988,639
100$5,383,925$566,413$6,945$3,165,723