Can I retire at age 78 with 1,320,000?

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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$109,004$108,033$107,086$106,161$105,259$103,600
2 years$53,963$52,958$51,984$51,039$50,123$48,457
3 years$35,618$34,608$33,637$32,701$31,800$30,177
4 years$26,447$25,441$24,479$23,559$22,680$21,114
5 years$20,946$19,946$18,997$18,096$17,241$15,735
6 years$17,280$16,287$15,352$14,471$13,642$12,199
7 years$14,662$13,678$12,758$11,898$11,095$9,714
8 years$12,700$11,725$10,820$9,981$9,204$7,887
9 years$11,175$10,208$9,319$8,501$7,751$6,496
10 years$9,955$8,998$8,124$7,328$6,604$5,410
11 years$8,958$8,011$7,153$6,378$5,680$4,545
12 years$8,127$7,190$6,348$5,594$4,922$3,846
13 years$7,425$6,498$5,671$4,939$4,292$3,273
14 years$6,824$5,906$5,096$4,384$3,763$2,798
15 years$6,303$5,395$4,601$3,910$3,313$2,402
16 years$5,848$4,950$4,171$3,501$2,928$2,068
17 years$5,447$4,559$3,796$3,146$2,596$1,786
18 years$5,091$4,213$3,465$2,835$2,308$1,546
19 years$4,772$3,904$3,172$2,561$2,057$1,341
20 years$4,486$3,628$2,911$2,320$1,838$1,165
21 years$4,228$3,379$2,678$2,105$1,645$1,014
22 years$3,993$3,154$2,468$1,914$1,474$883
23 years$3,779$2,950$2,279$1,743$1,323$770
24 years$3,583$2,764$2,107$1,590$1,189$673
25 years$3,403$2,594$1,952$1,452$1,070$588
26 years$3,237$2,438$1,810$1,328$964$514
27 years$3,084$2,294$1,681$1,215$869$450
28 years$2,942$2,162$1,563$1,114$784$394
29 years$2,810$2,040$1,454$1,021$708$345
30 years$2,687$1,926$1,355$937$640$302
31 years$2,572$1,821$1,263$861$579$265
32 years$2,465$1,723$1,178$791$523$232
33 years$2,364$1,632$1,100$727$474$204
34 years$2,269$1,546$1,028$669$429$179
35 years$2,180$1,467$961$616$388$157
36 years$2,096$1,392$899$567$352$137
37 years$2,017$1,322$841$523$319$121
38 years$1,943$1,257$788$482$289$106
39 years$1,872$1,195$738$444$262$93
40 years$1,805$1,137$692$410$238$82
41 years$1,741$1,082$649$378$216$72
42 years$1,681$1,031$609$349$196$63
43 years$1,623$982$571$322$178$55
44 years$1,568$936$536$297$161$49
45 years$1,516$893$503$275$146$43
46 years$1,466$852$473$254$133$37
47 years$1,419$813$444$234$121$33
48 years$1,374$776$417$217$110$29
49 years$1,330$741$392$200$100$25
50 years$1,289$708$369$185$90$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 78 starting with $1,320,000, adding $4,457 every year, while hoping to spend $48,381 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: 46/34/20 Blend
77$1,320,000$1,320,000$1,320,000$1,320,000
78$1,459,237$1,389,277$1,368,817$1,517,828
79$1,556,603$1,405,875$1,363,196$1,575,883
80$1,662,278$1,421,664$1,355,764$1,633,661
81$1,777,059$1,436,555$1,346,411$1,695,341
82$1,901,822$1,450,449$1,335,020$1,761,308
83$2,037,532$1,463,245$1,321,467$1,831,990
84$2,185,249$1,474,833$1,305,624$1,907,857
85$2,346,139$1,485,094$1,287,357$1,989,433
86$2,521,486$1,493,905$1,266,525$2,077,294
87$2,712,705$1,501,134$1,242,981$2,172,079
88$2,921,349$1,506,638$1,216,569$2,274,495
89$3,149,132$1,510,268$1,187,129$2,385,323
90$3,397,938$1,511,865$1,154,492$2,505,427
91$3,669,840$1,511,260$1,118,481$2,635,760
92$3,967,125$1,508,272$1,078,910$2,777,380
93$4,292,305$1,502,711$1,035,588$2,931,453
94$4,648,151$1,494,375$988,310$3,099,269
95$5,037,711$1,483,048$936,867$3,282,253
96$5,464,342$1,468,502$881,038$3,481,980
97$5,931,743$1,450,497$820,590$3,700,192
98$6,443,985$1,428,775$755,284$3,938,811
99$7,005,553$1,403,066$684,867$4,199,962
100$7,621,385$1,373,082$609,076$4,485,991