Can I retire at age 79 with 1,010,000?

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 $1,010,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$83,405$82,662$81,937$81,230$80,539$79,797
2 years$41,290$40,521$39,775$39,053$38,352$37,605
3 years$27,253$26,481$25,737$25,021$24,332$23,603
4 years$20,236$19,466$18,730$18,027$17,354$16,648
5 years$16,027$15,262$14,535$13,846$13,192$12,511
6 years$13,222$12,462$11,747$11,073$10,438$9,784
7 years$11,219$10,466$9,762$9,104$8,489$7,861
8 years$9,717$8,971$8,279$7,637$7,043$6,441
9 years$8,550$7,811$7,130$6,505$5,931$5,355
10 years$7,617$6,885$6,216$5,607$5,053$4,503
11 years$6,854$6,129$5,473$4,880$4,346$3,822
12 years$6,219$5,501$4,857$4,280$3,766$3,267
13 years$5,681$4,972$4,339$3,779$3,284$2,809
14 years$5,221$4,519$3,899$3,355$2,879$2,427
15 years$4,823$4,128$3,520$2,992$2,535$2,106
16 years$4,475$3,788$3,192$2,679$2,240$1,834
17 years$4,168$3,488$2,904$2,407$1,986$1,602
18 years$3,895$3,223$2,651$2,169$1,766$1,403
19 years$3,652$2,987$2,427$1,960$1,574$1,231
20 years$3,433$2,776$2,227$1,775$1,406$1,082
21 years$3,235$2,586$2,049$1,611$1,258$953
22 years$3,055$2,414$1,888$1,465$1,128$840
23 years$2,891$2,257$1,743$1,334$1,013$742
24 years$2,742$2,115$1,612$1,217$910$656
25 years$2,604$1,985$1,493$1,111$819$580
26 years$2,477$1,865$1,385$1,016$738$514
27 years$2,360$1,756$1,286$930$665$455
28 years$2,251$1,654$1,196$852$600$404
29 years$2,150$1,561$1,113$781$542$358
30 years$2,056$1,474$1,036$717$490$318
31 years$1,968$1,393$966$659$443$282
32 years$1,886$1,318$901$605$400$251
33 years$1,809$1,248$842$557$362$223
34 years$1,736$1,183$786$512$328$198
35 years$1,668$1,122$735$471$297$176
36 years$1,604$1,065$688$434$269$157
37 years$1,544$1,012$644$400$244$140
38 years$1,486$962$603$369$221$124
39 years$1,432$914$565$340$201$111
40 years$1,381$870$529$314$182$98
41 years$1,332$828$496$289$165$88
42 years$1,286$789$466$267$150$78
43 years$1,242$751$437$246$136$69
44 years$1,200$716$410$228$123$62
45 years$1,160$683$385$210$112$55
46 years$1,122$652$362$194$102$49
47 years$1,086$622$340$179$92$44
48 years$1,051$594$319$166$84$39
49 years$1,018$567$300$153$76$35
50 years$986$541$282$142$69$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 79 starting with $1,010,000, adding $5,685 every year, while hoping to spend $44,940 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: 50/43/7 Blend
78$1,010,000$1,010,000$1,010,000$1,010,000
79$1,118,884$1,065,354$1,049,699$1,172,558
80$1,185,194$1,069,741$1,037,048$1,214,154
81$1,256,762$1,072,836$1,022,467$1,254,041
82$1,334,076$1,074,529$1,005,844$1,296,318
83$1,417,674$1,074,703$987,062$1,341,219
84$1,508,145$1,073,232$965,997$1,389,004
85$1,606,140$1,069,984$942,522$1,439,962
86$1,712,371$1,064,818$916,501$1,494,414
87$1,827,623$1,057,584$887,794$1,552,713
88$1,952,760$1,048,125$856,254$1,615,254
89$2,088,730$1,036,272$821,727$1,682,473
90$2,236,578$1,021,847$784,053$1,754,853
91$2,397,452$1,004,661$743,062$1,832,930
92$2,572,618$984,515$698,580$1,917,299
93$2,763,464$961,196$650,422$2,008,615
94$2,971,523$934,480$598,397$2,107,609
95$3,198,479$904,130$542,304$2,215,087
96$3,446,186$869,894$481,933$2,331,942
97$3,716,686$831,507$417,066$2,459,163
98$4,012,224$788,687$347,474$2,597,845
99$4,335,275$741,137$272,918$2,749,200
100$4,688,562$688,542$193,150$2,914,568