Can I retire at age 78 with 1,420,000?

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 $1,420,000?

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$117,262$116,218$115,199$114,204$113,233$111,449
2 years$58,051$56,969$55,922$54,906$53,920$52,128
3 years$38,316$37,230$36,185$35,179$34,209$32,464
4 years$28,451$27,368$26,333$25,344$24,398$22,713
5 years$22,533$21,457$20,436$19,467$18,547$16,927
6 years$18,589$17,521$16,515$15,568$14,676$13,123
7 years$15,773$14,714$13,724$12,799$11,935$10,450
8 years$13,662$12,613$11,639$10,737$9,902$8,484
9 years$12,021$10,982$10,025$9,145$8,339$6,988
10 years$10,709$9,680$8,740$7,883$7,105$5,820
11 years$9,636$8,617$7,694$6,861$6,110$4,890
12 years$8,743$7,735$6,829$6,018$5,295$4,137
13 years$7,988$6,990$6,101$5,313$4,617$3,521
14 years$7,341$6,354$5,482$4,716$4,048$3,010
15 years$6,781$5,804$4,949$4,206$3,564$2,584
16 years$6,291$5,325$4,487$3,766$3,150$2,225
17 years$5,860$4,904$4,083$3,384$2,793$1,922
18 years$5,476$4,532$3,727$3,049$2,483$1,663
19 years$5,134$4,200$3,412$2,755$2,213$1,443
20 years$4,826$3,903$3,132$2,496$1,977$1,254
21 years$4,548$3,635$2,880$2,265$1,769$1,091
22 years$4,295$3,393$2,655$2,059$1,586$950
23 years$4,065$3,174$2,451$1,875$1,424$829
24 years$3,855$2,974$2,267$1,711$1,280$724
25 years$3,661$2,791$2,100$1,562$1,151$632
26 years$3,483$2,623$1,947$1,428$1,037$553
27 years$3,318$2,468$1,808$1,307$935$484
28 years$3,165$2,326$1,681$1,198$844$423
29 years$3,023$2,194$1,564$1,098$762$371
30 years$2,891$2,072$1,457$1,008$688$325
31 years$2,767$1,959$1,358$926$622$285
32 years$2,651$1,854$1,267$851$563$250
33 years$2,543$1,755$1,183$782$509$219
34 years$2,441$1,664$1,106$720$461$192
35 years$2,346$1,578$1,034$663$418$169
36 years$2,255$1,498$967$610$379$148
37 years$2,170$1,422$905$562$343$130
38 years$2,090$1,352$848$518$311$114
39 years$2,014$1,285$794$478$282$100
40 years$1,941$1,223$744$441$256$88
41 years$1,873$1,164$698$407$232$77
42 years$1,808$1,109$655$375$211$68
43 years$1,746$1,056$614$347$191$59
44 years$1,687$1,007$577$320$173$52
45 years$1,631$960$541$295$158$46
46 years$1,578$916$509$273$143$40
47 years$1,527$874$478$252$130$35
48 years$1,478$835$449$233$118$31
49 years$1,431$797$422$215$107$27
50 years$1,386$761$397$199$97$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 78 starting with $1,420,000, adding $6,140 every year, while hoping to spend $20,431 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: 24/47/29 Blend
77$1,420,000$1,420,000$1,420,000$1,420,000
78$1,571,173$1,495,913$1,473,903$1,594,463
79$1,709,695$1,547,475$1,501,541$1,666,410
80$1,861,660$1,600,878$1,529,419$1,741,326
81$2,028,420$1,656,191$1,557,525$1,821,166
82$2,211,461$1,713,487$1,585,844$1,906,354
83$2,412,420$1,772,838$1,614,360$1,997,355
84$2,633,102$1,834,322$1,643,057$2,094,680
85$2,875,494$1,898,019$1,671,915$2,198,888
86$3,141,786$1,964,013$1,700,914$2,310,592
87$3,434,388$2,032,390$1,730,035$2,430,468
88$3,755,957$2,103,239$1,759,254$2,559,255
89$4,109,422$2,176,655$1,788,546$2,697,766
90$4,498,007$2,252,734$1,817,885$2,846,896
91$4,925,264$2,331,579$1,847,245$3,007,624
92$5,395,107$2,413,293$1,876,594$3,181,029
93$5,911,850$2,497,986$1,905,902$3,368,296
94$6,480,244$2,585,772$1,935,134$3,570,728
95$7,105,523$2,676,769$1,964,256$3,789,756
96$7,793,456$2,771,101$1,993,228$4,026,957
97$8,550,398$2,868,894$2,022,011$4,284,061
98$9,383,351$2,970,283$2,050,561$4,562,974
99$10,300,032$3,075,405$2,078,833$4,865,790
100$11,308,940$3,184,405$2,106,779$5,194,815