Can I retire at age 79 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$87,534$86,754$85,993$85,251$84,526$84,134
2 years$43,334$42,527$41,744$40,986$40,250$39,855
3 years$28,602$27,792$27,011$26,260$25,537$25,150
4 years$21,238$20,430$19,657$18,919$18,213$17,838
5 years$16,820$16,017$15,255$14,532$13,845$13,483
6 years$13,876$13,079$12,328$11,621$10,955$10,606
7 years$11,774$10,984$10,245$9,554$8,909$8,573
8 years$10,199$9,415$8,688$8,015$7,391$7,069
9 years$8,974$8,198$7,483$6,827$6,225$5,915
10 years$7,994$7,226$6,524$5,885$5,304$5,007
11 years$7,193$6,433$5,744$5,122$4,561$4,278
12 years$6,526$5,774$5,097$4,492$3,953$3,682
13 years$5,963$5,218$4,554$3,966$3,447$3,188
14 years$5,480$4,743$4,092$3,521$3,021$2,775
15 years$5,062$4,333$3,695$3,140$2,660$2,426
16 years$4,696$3,975$3,350$2,811$2,351$2,128
17 years$4,374$3,661$3,048$2,526$2,085$1,873
18 years$4,088$3,383$2,782$2,276$1,854$1,653
19 years$3,832$3,135$2,547$2,057$1,652$1,462
20 years$3,603$2,913$2,338$1,863$1,476$1,295
21 years$3,395$2,714$2,150$1,691$1,321$1,150
22 years$3,206$2,533$1,982$1,537$1,184$1,023
23 years$3,035$2,369$1,830$1,400$1,063$910
24 years$2,877$2,220$1,692$1,277$955$812
25 years$2,733$2,083$1,567$1,166$859$724
26 years$2,600$1,958$1,454$1,066$774$647
27 years$2,477$1,843$1,350$976$698$578
28 years$2,363$1,736$1,255$894$630$517
29 years$2,256$1,638$1,168$820$569$463
30 years$2,158$1,547$1,088$753$514$415
31 years$2,065$1,462$1,014$691$465$372
32 years$1,979$1,384$946$635$420$333
33 years$1,898$1,310$883$584$380$299
34 years$1,822$1,242$825$537$344$268
35 years$1,751$1,178$772$495$312$241
36 years$1,684$1,118$722$456$283$216
37 years$1,620$1,062$676$420$256$194
38 years$1,560$1,009$633$387$232$174
39 years$1,503$960$593$357$211$157
40 years$1,449$913$556$329$191$141
41 years$1,398$869$521$304$173$126
42 years$1,350$828$489$280$157$114
43 years$1,303$789$459$259$143$102
44 years$1,259$752$430$239$130$92
45 years$1,218$717$404$221$118$83
46 years$1,178$684$380$204$107$74
47 years$1,140$653$357$188$97$67
48 years$1,103$623$335$174$88$60
49 years$1,068$595$315$161$80$54
50 years$1,035$568$296$149$73$49

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 79 starting with $1,060,000, adding $4,505 every year, while hoping to spend $45,664 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: 75/12/13 Blend
78$1,060,000$1,060,000$1,060,000$1,060,000
79$1,172,767$1,116,587$1,100,157$1,257,256
80$1,243,803$1,122,714$1,088,426$1,319,780
81$1,320,554$1,127,610$1,074,772$1,382,129
82$1,403,556$1,131,167$1,059,081$1,449,207
83$1,493,395$1,133,271$1,041,237$1,521,467
84$1,590,717$1,133,798$1,021,115$1,599,413
85$1,696,235$1,132,618$998,586$1,683,598
86$1,810,727$1,129,593$973,516$1,774,632
87$1,935,055$1,124,577$945,762$1,873,188
88$2,070,162$1,117,413$915,177$1,980,008
89$2,217,089$1,107,936$881,605$2,095,910
90$2,376,979$1,095,972$844,886$2,221,796
91$2,551,092$1,081,335$804,850$2,358,659
92$2,740,810$1,063,828$761,320$2,507,596
93$2,947,660$1,043,242$714,111$2,669,815
94$3,173,318$1,019,358$663,030$2,846,651
95$3,419,630$991,940$607,876$3,039,571
96$3,688,629$960,742$548,437$3,250,197
97$3,982,552$925,501$484,492$3,480,315
98$4,303,863$885,941$415,813$3,731,896
99$4,655,272$841,768$342,158$4,007,111
100$5,039,766$792,671$263,277$4,308,357