Can I retire at age 78 with 1,240,000?

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 $1,240,000?

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%
1 years$102,398$101,486$100,596$99,727$98,879$98,421
2 years$50,692$49,748$48,833$47,946$47,085$46,623
3 years$33,459$32,511$31,598$30,719$29,873$29,421
4 years$24,844$23,899$22,995$22,132$21,306$20,867
5 years$19,677$18,737$17,845$16,999$16,196$15,772
6 years$16,233$15,300$14,422$13,594$12,815$12,407
7 years$13,774$12,849$11,985$11,177$10,422$10,029
8 years$11,930$11,014$10,164$9,376$8,646$8,269
9 years$10,497$9,590$8,754$7,986$7,282$6,919
10 years$9,352$8,453$7,632$6,884$6,204$5,857
11 years$8,415$7,525$6,719$5,991$5,336$5,004
12 years$7,635$6,754$5,963$5,255$4,624$4,307
13 years$6,975$6,104$5,328$4,640$4,032$3,730
14 years$6,410$5,548$4,787$4,118$3,535$3,246
15 years$5,921$5,068$4,322$3,673$3,112$2,838
16 years$5,494$4,650$3,918$3,289$2,750$2,490
17 years$5,117$4,283$3,566$2,955$2,439$2,191
18 years$4,782$3,957$3,255$2,663$2,168$1,933
19 years$4,483$3,668$2,980$2,406$1,933$1,710
20 years$4,214$3,408$2,735$2,179$1,726$1,515
21 years$3,971$3,174$2,515$1,978$1,545$1,345
22 years$3,751$2,963$2,318$1,798$1,385$1,196
23 years$3,550$2,771$2,141$1,638$1,243$1,065
24 years$3,366$2,597$1,980$1,494$1,117$949
25 years$3,197$2,437$1,834$1,364$1,005$847
26 years$3,041$2,290$1,701$1,247$906$757
27 years$2,897$2,155$1,579$1,142$817$676
28 years$2,764$2,031$1,468$1,046$737$605
29 years$2,640$1,916$1,366$959$665$542
30 years$2,524$1,810$1,272$880$601$485
31 years$2,416$1,711$1,186$809$543$435
32 years$2,315$1,619$1,107$743$492$390
33 years$2,221$1,533$1,033$683$445$350
34 years$2,132$1,453$966$629$403$314
35 years$2,048$1,378$903$579$365$281
36 years$1,969$1,308$844$533$331$253
37 years$1,895$1,242$790$491$300$227
38 years$1,825$1,180$740$453$272$204
39 years$1,758$1,123$693$417$246$183
40 years$1,695$1,068$650$385$223$165
41 years$1,635$1,017$609$355$203$148
42 years$1,579$968$572$328$184$133
43 years$1,525$922$536$303$167$120
44 years$1,473$879$504$279$152$107
45 years$1,424$839$473$258$138$97
46 years$1,378$800$444$238$125$87
47 years$1,333$763$417$220$113$78
48 years$1,290$729$392$203$103$70
49 years$1,250$696$369$188$94$63
50 years$1,211$665$346$174$85$57

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 78 starting with $1,240,000, adding $2,354 every year, while hoping to spend $26,281 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: 66/9/25 Blend
77$1,240,000$1,240,000$1,240,000$1,240,000
78$1,368,908$1,303,188$1,283,968$1,450,219
79$1,480,574$1,339,082$1,299,018$1,541,148
80$1,602,749$1,375,853$1,313,692$1,637,341
81$1,736,477$1,413,518$1,327,948$1,741,917
82$1,882,908$1,452,091$1,341,745$1,855,701
83$2,043,309$1,491,587$1,355,038$1,979,604
84$2,219,073$1,532,021$1,367,778$2,114,630
85$2,411,737$1,573,409$1,379,917$2,261,884
86$2,622,991$1,615,763$1,391,401$2,422,585
87$2,854,699$1,659,098$1,402,176$2,598,073
88$3,108,912$1,703,428$1,412,183$2,789,829
89$3,387,891$1,748,765$1,421,360$2,999,480
90$3,694,124$1,795,123$1,429,644$3,228,823
91$4,030,354$1,842,514$1,436,967$3,479,835
92$4,399,602$1,890,948$1,443,257$3,754,697
93$4,805,195$1,940,438$1,448,439$4,055,809
94$5,250,798$1,990,993$1,452,435$4,385,820
95$5,740,450$2,042,622$1,455,163$4,747,645
96$6,278,600$2,095,335$1,456,535$5,144,499
97$6,870,149$2,149,138$1,456,460$5,579,925
98$7,520,497$2,204,038$1,454,844$6,057,824
99$8,235,592$2,260,041$1,451,586$6,582,500
100$9,021,989$2,317,149$1,446,581$7,158,692