Can I retire at age 78 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$100,746$99,849$98,974$98,119$97,285$95,712
2 years$49,874$48,946$48,045$47,173$46,326$44,746
3 years$32,919$31,987$31,089$30,224$29,391$27,853
4 years$24,443$23,513$22,625$21,775$20,962$19,478
5 years$19,359$18,435$17,558$16,725$15,935$14,508
6 years$15,971$15,053$14,189$13,375$12,609$11,242
7 years$13,552$12,642$11,791$10,996$10,254$8,947
8 years$11,738$10,836$10,000$9,225$8,507$7,260
9 years$10,328$9,435$8,613$7,857$7,164$5,976
10 years$9,201$8,317$7,509$6,773$6,104$4,974
11 years$8,279$7,404$6,611$5,895$5,250$4,176
12 years$7,512$6,645$5,867$5,170$4,549$3,531
13 years$6,863$6,005$5,242$4,565$3,967$3,003
14 years$6,307$5,459$4,710$4,052$3,478$2,566
15 years$5,826$4,987$4,252$3,614$3,062$2,201
16 years$5,405$4,575$3,855$3,236$2,706$1,894
17 years$5,034$4,213$3,508$2,907$2,399$1,635
18 years$4,705$3,893$3,202$2,620$2,133$1,414
19 years$4,411$3,608$2,932$2,367$1,902$1,225
20 years$4,146$3,353$2,691$2,144$1,699$1,064
21 years$3,907$3,123$2,475$1,946$1,520$925
22 years$3,690$2,915$2,281$1,769$1,362$805
23 years$3,493$2,727$2,106$1,611$1,223$702
24 years$3,312$2,555$1,948$1,470$1,099$612
25 years$3,145$2,398$1,804$1,342$989$535
26 years$2,992$2,253$1,673$1,227$891$467
27 years$2,850$2,121$1,554$1,123$803$408
28 years$2,719$1,998$1,444$1,029$725$357
29 years$2,597$1,885$1,344$944$655$313
30 years$2,483$1,780$1,252$866$591$274
31 years$2,377$1,683$1,167$795$535$240
32 years$2,278$1,592$1,089$731$484$210
33 years$2,185$1,508$1,017$672$438$184
34 years$2,097$1,429$950$619$396$161
35 years$2,015$1,356$888$569$359$141
36 years$1,938$1,287$831$524$325$124
37 years$1,864$1,222$778$483$295$109
38 years$1,795$1,161$728$445$267$95
39 years$1,730$1,104$682$411$242$84
40 years$1,668$1,051$640$379$220$73
41 years$1,609$1,000$600$349$199$64
42 years$1,553$953$563$323$181$56
43 years$1,500$908$528$298$164$50
44 years$1,450$865$495$275$149$43
45 years$1,401$825$465$254$135$38
46 years$1,355$787$437$234$123$33
47 years$1,312$751$411$217$112$29
48 years$1,270$717$386$200$101$26
49 years$1,230$685$363$185$92$23
50 years$1,191$654$341$171$84$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 78 starting with $1,220,000, adding $5,832 every year, while hoping to spend $44,574 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: 55/15/30 Blend
77$1,220,000$1,220,000$1,220,000$1,220,000
78$1,350,456$1,285,796$1,266,886$1,413,187
79$1,440,776$1,301,373$1,261,900$1,472,763
80$1,538,815$1,316,220$1,255,253$1,532,570
81$1,645,312$1,330,254$1,246,843$1,596,832
82$1,761,083$1,343,385$1,236,561$1,665,996
83$1,887,023$1,355,521$1,224,296$1,740,555
84$2,024,118$1,366,560$1,209,928$1,821,055
85$2,173,452$1,376,395$1,193,334$1,908,097
86$2,336,218$1,384,912$1,174,385$2,002,347
87$2,513,731$1,391,991$1,152,945$2,104,540
88$2,707,435$1,397,502$1,128,873$2,215,488
89$2,918,922$1,401,309$1,102,018$2,336,089
90$3,149,943$1,403,264$1,072,227$2,467,331
91$3,402,428$1,403,214$1,039,337$2,610,311
92$3,678,498$1,400,994$1,003,178$2,766,236
93$3,980,491$1,396,430$963,571$2,936,440
94$4,310,982$1,389,336$920,331$3,122,398
95$4,672,804$1,379,515$873,264$3,325,734
96$5,069,078$1,366,759$822,166$3,548,246
97$5,503,241$1,350,847$766,826$3,791,916
98$5,979,077$1,331,544$707,020$4,058,933
99$6,500,756$1,308,603$642,518$4,351,712
100$7,072,869$1,281,760$573,078$4,672,919