Can I retire at age 78 with 960,000?

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 $960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$79,276$78,570$77,881$77,208$76,552$75,815
2 years$39,245$38,515$37,806$37,119$36,453$35,711
3 years$25,904$25,170$24,463$23,783$23,127$22,403
4 years$19,234$18,502$17,803$17,134$16,495$15,794
5 years$15,234$14,506$13,816$13,161$12,539$11,863
6 years$12,567$11,845$11,165$10,525$9,922$9,272
7 years$10,664$9,948$9,278$8,653$8,069$7,446
8 years$9,236$8,527$7,869$7,259$6,694$6,097
9 years$8,127$7,424$6,777$6,183$5,637$5,066
10 years$7,240$6,544$5,909$5,330$4,803$4,258
11 years$6,515$5,826$5,202$4,638$4,131$3,611
12 years$5,911$5,229$4,617$4,068$3,580$3,085
13 years$5,400$4,725$4,125$3,592$3,122$2,651
14 years$4,963$4,295$3,706$3,188$2,736$2,289
15 years$4,584$3,924$3,346$2,844$2,409$1,985
16 years$4,253$3,600$3,034$2,546$2,129$1,727
17 years$3,961$3,316$2,760$2,288$1,888$1,508
18 years$3,702$3,064$2,520$2,062$1,679$1,319
19 years$3,471$2,839$2,307$1,863$1,496$1,157
20 years$3,263$2,639$2,117$1,687$1,337$1,016
21 years$3,075$2,458$1,947$1,531$1,196$894
22 years$2,904$2,294$1,795$1,392$1,072$788
23 years$2,748$2,146$1,657$1,268$962$695
24 years$2,606$2,010$1,533$1,156$865$614
25 years$2,475$1,887$1,420$1,056$778$543
26 years$2,354$1,773$1,317$966$701$480
27 years$2,243$1,669$1,223$884$632$425
28 years$2,140$1,572$1,136$810$570$377
29 years$2,044$1,483$1,058$743$515$334
30 years$1,954$1,401$985$682$465$296
31 years$1,871$1,324$918$626$421$263
32 years$1,792$1,253$857$575$381$233
33 years$1,719$1,187$800$529$344$207
34 years$1,650$1,125$748$487$312$184
35 years$1,586$1,067$699$448$282$164
36 years$1,525$1,013$654$413$256$145
37 years$1,467$962$612$380$232$129
38 years$1,413$914$573$350$210$115
39 years$1,361$869$537$323$191$102
40 years$1,312$827$503$298$173$91
41 years$1,266$787$472$275$157$81
42 years$1,222$750$443$254$142$72
43 years$1,180$714$415$234$129$64
44 years$1,141$681$390$216$117$57
45 years$1,103$649$366$200$106$51
46 years$1,067$619$344$185$97$45
47 years$1,032$591$323$170$88$40
48 years$999$564$304$158$80$36
49 years$967$539$285$146$72$32
50 years$937$515$268$135$66$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 78 starting with $960,000, adding $3,402 every year, while hoping to spend $54,523 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: 59/13/28 Blend
77$960,000$960,000$960,000$960,000
78$1,061,429$1,010,549$995,669$1,115,789
79$1,111,683$1,002,054$971,012$1,144,840
80$1,165,235$991,315$943,702$1,170,430
81$1,222,365$978,165$913,591$1,197,211
82$1,283,377$962,427$880,528$1,225,314
83$1,348,607$943,911$844,351$1,254,884
84$1,418,422$922,420$804,894$1,286,084
85$1,493,225$897,742$761,981$1,319,098
86$1,573,456$869,653$715,429$1,354,128
87$1,659,600$837,918$665,048$1,391,402
88$1,752,188$802,285$610,636$1,431,174
89$1,851,805$762,491$551,987$1,473,728
90$1,959,091$718,255$488,880$1,519,378
91$2,074,750$669,281$421,089$1,568,477
92$2,199,555$615,256$348,376$1,621,414
93$2,334,355$555,849$270,492$1,678,627
94$2,480,084$490,710$187,178$1,740,599
95$2,637,767$419,470$98,163$1,807,868
96$2,808,533$341,737$3,165$1,881,033
97$2,993,620$257,099$0$1,960,759
98$3,194,393$165,121$0$2,077,126
99$3,412,351$65,341$0$2,204,528
100$3,649,142$0$0$2,343,022