Can I retire at age 78 with 1,230,000?

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$101,572$100,667$99,785$98,923$98,082$95,867
2 years$50,283$49,347$48,439$47,559$46,706$44,486
3 years$33,189$32,249$31,343$30,472$29,632$27,477
4 years$24,644$23,706$22,810$21,953$21,134$19,060
5 years$19,518$18,586$17,701$16,862$16,066$14,078
6 years$16,102$15,177$14,305$13,485$12,712$10,814
7 years$13,663$12,745$11,888$11,087$10,338$8,530
8 years$11,834$10,925$10,082$9,300$8,577$6,857
9 years$10,413$9,512$8,683$7,922$7,223$5,591
10 years$9,276$8,385$7,570$6,829$6,154$4,608
11 years$8,347$7,464$6,665$5,943$5,293$3,830
12 years$7,573$6,700$5,915$5,213$4,587$3,205
13 years$6,919$6,055$5,285$4,602$4,000$2,697
14 years$6,359$5,503$4,748$4,085$3,506$2,279
15 years$5,873$5,027$4,287$3,643$3,087$1,934
16 years$5,449$4,613$3,887$3,262$2,728$1,646
17 years$5,076$4,248$3,537$2,931$2,419$1,404
18 years$4,744$3,925$3,229$2,641$2,151$1,200
19 years$4,447$3,638$2,956$2,387$1,917$1,028
20 years$4,180$3,381$2,713$2,162$1,712$882
21 years$3,939$3,149$2,495$1,962$1,532$757
22 years$3,721$2,939$2,300$1,784$1,374$651
23 years$3,521$2,749$2,123$1,625$1,233$561
24 years$3,339$2,576$1,964$1,482$1,108$483
25 years$3,171$2,417$1,819$1,353$997$416
26 years$3,017$2,272$1,687$1,237$898$359
27 years$2,874$2,138$1,566$1,132$810$310
28 years$2,741$2,015$1,456$1,038$731$268
29 years$2,618$1,901$1,355$951$660$231
30 years$2,504$1,795$1,262$873$596$200
31 years$2,397$1,697$1,177$802$539$173
32 years$2,297$1,606$1,098$737$488$149
33 years$2,203$1,520$1,025$678$441$129
34 years$2,115$1,441$958$624$400$112
35 years$2,032$1,367$895$574$362$96
36 years$1,954$1,297$838$529$328$83
37 years$1,880$1,232$784$487$297$72
38 years$1,810$1,171$734$449$269$62
39 years$1,744$1,113$688$414$244$54
40 years$1,682$1,059$645$382$222$47
41 years$1,622$1,008$605$352$201$40
42 years$1,566$960$567$325$182$35
43 years$1,512$915$532$300$166$30
44 years$1,461$872$500$277$150$26
45 years$1,413$832$469$256$136$23
46 years$1,366$793$441$236$124$20
47 years$1,322$757$414$218$112$17
48 years$1,280$723$389$202$102$15
49 years$1,240$690$366$187$93$13
50 years$1,201$659$344$172$84$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 78 starting with $1,230,000, adding $6,622 every year, while hoping to spend $28,958 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: 60/23/17 Blend
77$1,230,000$1,230,000$1,230,000$1,230,000
78$1,362,291$1,297,101$1,278,036$1,437,709
79$1,470,433$1,329,847$1,290,039$1,522,164
80$1,588,636$1,363,228$1,301,473$1,610,459
81$1,717,894$1,397,244$1,312,290$1,706,110
82$1,859,304$1,431,893$1,322,436$1,809,833
83$2,014,072$1,467,175$1,331,857$1,922,417
84$2,183,528$1,503,088$1,340,495$2,044,729
85$2,369,135$1,539,626$1,348,289$2,177,726
86$2,572,505$1,576,786$1,355,175$2,322,461
87$2,795,413$1,614,561$1,361,086$2,480,095
88$3,039,814$1,652,943$1,365,951$2,651,905
89$3,307,860$1,691,923$1,369,695$2,839,300
90$3,601,924$1,731,489$1,372,242$3,043,832
91$3,924,617$1,771,629$1,373,509$3,267,211
92$4,278,817$1,812,328$1,373,411$3,511,319
93$4,667,692$1,853,568$1,371,856$3,778,234
94$5,094,735$1,895,331$1,368,751$4,070,243
95$5,563,790$1,937,594$1,363,997$4,389,865
96$6,079,095$1,980,335$1,357,489$4,739,878
97$6,645,317$2,023,525$1,349,119$5,123,342
98$7,267,597$2,067,136$1,338,772$5,543,630
99$7,951,600$2,111,134$1,326,330$6,004,459
100$8,703,567$2,155,483$1,311,665$6,509,924