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

Use the below retirement simulation to view the chances of a successful retirement.
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%14.8%
1 years$83,405$82,662$81,937$81,230$80,539$78,945
2 years$41,290$40,521$39,775$39,053$38,352$36,753
3 years$27,253$26,481$25,737$25,021$24,332$22,778
4 years$20,236$19,466$18,730$18,027$17,354$15,856
5 years$16,027$15,262$14,535$13,846$13,192$11,755
6 years$13,222$12,462$11,747$11,073$10,438$9,064
7 years$11,219$10,466$9,762$9,104$8,489$7,178
8 years$9,717$8,971$8,279$7,637$7,043$5,793
9 years$8,550$7,811$7,130$6,505$5,931$4,743
10 years$7,617$6,885$6,216$5,607$5,053$3,926
11 years$6,854$6,129$5,473$4,880$4,346$3,278
12 years$6,219$5,501$4,857$4,280$3,766$2,756
13 years$5,681$4,972$4,339$3,779$3,284$2,330
14 years$5,221$4,519$3,899$3,355$2,879$1,979
15 years$4,823$4,128$3,520$2,992$2,535$1,687
16 years$4,475$3,788$3,192$2,679$2,240$1,442
17 years$4,168$3,488$2,904$2,407$1,986$1,237
18 years$3,895$3,223$2,651$2,169$1,766$1,063
19 years$3,652$2,987$2,427$1,960$1,574$915
20 years$3,433$2,776$2,227$1,775$1,406$789
21 years$3,235$2,586$2,049$1,611$1,258$681
22 years$3,055$2,414$1,888$1,465$1,128$589
23 years$2,891$2,257$1,743$1,334$1,013$510
24 years$2,742$2,115$1,612$1,217$910$442
25 years$2,604$1,985$1,493$1,111$819$383
26 years$2,477$1,865$1,385$1,016$738$332
27 years$2,360$1,756$1,286$930$665$288
28 years$2,251$1,654$1,196$852$600$250
29 years$2,150$1,561$1,113$781$542$217
30 years$2,056$1,474$1,036$717$490$189
31 years$1,968$1,393$966$659$443$164
32 years$1,886$1,318$901$605$400$143
33 years$1,809$1,248$842$557$362$124
34 years$1,736$1,183$786$512$328$108
35 years$1,668$1,122$735$471$297$94
36 years$1,604$1,065$688$434$269$82
37 years$1,544$1,012$644$400$244$71
38 years$1,486$962$603$369$221$62
39 years$1,432$914$565$340$201$54
40 years$1,381$870$529$314$182$47
41 years$1,332$828$496$289$165$41
42 years$1,286$789$466$267$150$36
43 years$1,242$751$437$246$136$31
44 years$1,200$716$410$228$123$27
45 years$1,160$683$385$210$112$24
46 years$1,122$652$362$194$102$20
47 years$1,086$622$340$179$92$18
48 years$1,051$594$319$166$84$16
49 years$1,018$567$300$153$76$14
50 years$986$541$282$142$69$12

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 $6,549 every year, while hoping to spend $29,840 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: 44/49/7 Blend
78$1,010,000$1,010,000$1,010,000$1,010,000
79$1,119,775$1,066,245$1,050,590$1,166,541
80$1,202,243$1,086,742$1,054,036$1,220,056
81$1,292,122$1,107,242$1,056,596$1,274,430
82$1,390,137$1,127,716$1,058,211$1,332,670
83$1,497,086$1,148,129$1,058,816$1,395,139
84$1,613,846$1,168,444$1,058,343$1,462,240
85$1,741,383$1,188,623$1,056,722$1,534,415
86$1,880,761$1,208,622$1,053,879$1,612,154
87$2,033,150$1,228,397$1,049,736$1,695,996
88$2,199,841$1,247,898$1,044,212$1,786,533
89$2,382,253$1,267,073$1,037,221$1,884,423
90$2,581,949$1,285,865$1,028,674$1,990,387
91$2,800,650$1,304,215$1,018,477$2,105,221
92$3,040,251$1,322,057$1,006,531$2,229,806
93$3,302,841$1,339,322$992,734$2,365,111
94$3,590,718$1,355,936$976,978$2,512,203
95$3,906,415$1,371,821$959,151$2,672,263
96$4,252,721$1,386,891$939,133$2,846,592
97$4,632,707$1,401,057$916,803$3,036,622
98$5,049,757$1,414,223$892,030$3,243,937
99$5,507,598$1,426,286$864,679$3,470,282
100$6,010,337$1,437,137$834,609$3,717,580