Can I retire at age 78 with 1,600,000?

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 $1,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$132,127$130,950$129,801$128,681$127,586$125,992
2 years$65,409$64,191$63,010$61,866$60,755$59,151
3 years$43,173$41,950$40,772$39,638$38,546$36,981
4 years$32,057$30,837$29,671$28,557$27,491$25,979
5 years$25,389$24,177$23,026$21,934$20,898$19,442
6 years$20,945$19,742$18,609$17,541$16,536$15,138
7 years$17,773$16,579$15,464$14,422$13,448$12,109
8 years$15,394$14,212$13,115$12,098$11,157$9,876
9 years$13,545$12,374$11,296$10,305$9,396$8,173
10 years$12,067$10,907$9,848$8,883$8,005$6,840
11 years$10,858$9,710$8,670$7,731$6,885$5,776
12 years$9,851$8,715$7,694$6,781$5,966$4,912
13 years$9,000$7,876$6,874$5,986$5,203$4,202
14 years$8,271$7,159$6,177$5,314$4,561$3,612
15 years$7,640$6,540$5,577$4,739$4,016$3,117
16 years$7,089$6,000$5,056$4,243$3,549$2,700
17 years$6,602$5,526$4,601$3,813$3,147$2,345
18 years$6,171$5,106$4,200$3,436$2,798$2,041
19 years$5,785$4,732$3,845$3,105$2,494$1,781
20 years$5,438$4,398$3,529$2,812$2,228$1,556
21 years$5,124$4,096$3,246$2,552$1,993$1,363
22 years$4,840$3,824$2,991$2,320$1,787$1,194
23 years$4,581$3,576$2,762$2,113$1,604$1,048
24 years$4,343$3,351$2,554$1,927$1,442$921
25 years$4,125$3,144$2,366$1,760$1,297$810
26 years$3,924$2,955$2,194$1,609$1,169$712
27 years$3,738$2,781$2,038$1,473$1,054$627
28 years$3,566$2,621$1,894$1,350$951$553
29 years$3,406$2,472$1,763$1,238$858$487
30 years$3,257$2,335$1,642$1,136$776$430
31 years$3,118$2,207$1,531$1,043$701$379
32 years$2,987$2,088$1,428$959$634$335
33 years$2,865$1,978$1,333$882$574$295
34 years$2,751$1,875$1,246$811$520$261
35 years$2,643$1,778$1,165$747$471$230
36 years$2,541$1,688$1,090$688$427$204
37 years$2,445$1,603$1,020$634$387$180
38 years$2,355$1,523$955$584$350$159
39 years$2,269$1,448$895$539$318$141
40 years$2,187$1,378$839$497$288$124
41 years$2,110$1,312$786$458$262$110
42 years$2,037$1,249$738$423$237$97
43 years$1,967$1,190$692$390$215$86
44 years$1,901$1,135$650$361$195$76
45 years$1,838$1,082$610$333$177$67
46 years$1,778$1,032$573$308$161$59
47 years$1,720$985$538$284$146$53
48 years$1,665$940$506$263$133$47
49 years$1,612$898$476$243$121$41
50 years$1,562$858$447$224$110$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 78 starting with $1,600,000, adding $3,112 every year, while hoping to spend $44,746 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: 52/26/22 Blend
77$1,600,000$1,600,000$1,600,000$1,600,000
78$1,766,410$1,681,610$1,656,810$1,847,340
79$1,898,974$1,716,400$1,664,704$1,938,305
80$2,043,561$1,751,394$1,671,362$2,032,327
81$2,201,348$1,786,556$1,676,697$2,133,662
82$2,373,634$1,821,846$1,680,615$2,243,021
83$2,561,847$1,857,219$1,683,017$2,361,189
84$2,767,560$1,892,627$1,683,803$2,489,031
85$2,992,504$1,928,019$1,682,864$2,627,500
86$3,238,586$1,963,339$1,680,087$2,777,649
87$3,507,906$1,998,526$1,675,353$2,940,637
88$3,802,774$2,033,515$1,668,539$3,117,742
89$4,125,736$2,068,237$1,659,514$3,310,375
90$4,479,595$2,102,614$1,648,142$3,520,091
91$4,867,438$2,136,567$1,634,279$3,748,603
92$5,292,666$2,170,008$1,617,776$3,997,803
93$5,759,022$2,202,842$1,598,476$4,269,775
94$6,270,631$2,234,971$1,576,214$4,566,818
95$6,832,037$2,266,285$1,550,819$4,891,467
96$7,448,242$2,296,671$1,522,109$5,246,517
97$8,124,760$2,326,005$1,489,897$5,635,051
98$8,867,662$2,354,156$1,453,984$6,060,468
99$9,683,636$2,380,982$1,414,166$6,526,514
100$10,580,051$2,406,334$1,370,224$7,037,324