Can I retire at age 79 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$92,489$91,665$90,861$90,076$89,310$88,785
2 years$45,786$44,934$44,107$43,306$42,529$41,998
3 years$30,221$29,365$28,540$27,747$26,982$26,463
4 years$22,440$21,586$20,770$19,990$19,244$18,741
5 years$17,772$16,924$16,118$15,354$14,629$14,143
6 years$14,662$13,820$13,026$12,279$11,575$11,108
7 years$12,441$11,606$10,825$10,095$9,414$8,964
8 years$10,776$9,948$9,180$8,469$7,810$7,378
9 years$9,482$8,662$7,907$7,213$6,577$6,163
10 years$8,447$7,635$6,893$6,218$5,604$5,208
11 years$7,601$6,797$6,069$5,411$4,819$4,441
12 years$6,896$6,100$5,386$4,747$4,176$3,815
13 years$6,300$5,513$4,812$4,191$3,642$3,298
14 years$5,790$5,011$4,324$3,720$3,193$2,865
15 years$5,348$4,578$3,904$3,317$2,811$2,499
16 years$4,962$4,200$3,539$2,970$2,484$2,188
17 years$4,622$3,868$3,221$2,669$2,203$1,922
18 years$4,319$3,574$2,940$2,405$1,959$1,692
19 years$4,049$3,313$2,691$2,173$1,746$1,493
20 years$3,807$3,078$2,470$1,968$1,559$1,321
21 years$3,587$2,867$2,272$1,786$1,395$1,170
22 years$3,388$2,677$2,094$1,624$1,251$1,038
23 years$3,206$2,503$1,933$1,479$1,123$922
24 years$3,040$2,345$1,788$1,349$1,009$820
25 years$2,888$2,201$1,656$1,232$908$730
26 years$2,747$2,069$1,536$1,127$818$651
27 years$2,617$1,947$1,426$1,031$737$580
28 years$2,496$1,834$1,326$945$665$518
29 years$2,384$1,731$1,234$866$601$462
30 years$2,280$1,634$1,149$795$543$413
31 years$2,182$1,545$1,071$730$491$369
32 years$2,091$1,462$1,000$671$444$330
33 years$2,006$1,384$933$617$402$295
34 years$1,925$1,312$872$568$364$264
35 years$1,850$1,245$815$523$330$237
36 years$1,779$1,181$763$481$299$212
37 years$1,712$1,122$714$444$271$190
38 years$1,648$1,066$669$409$245$170
39 years$1,588$1,014$626$377$222$152
40 years$1,531$965$587$348$202$137
41 years$1,477$918$551$321$183$123
42 years$1,426$874$516$296$166$110
43 years$1,377$833$485$273$151$98
44 years$1,331$794$455$252$137$88
45 years$1,286$757$427$233$124$79
46 years$1,244$723$401$215$113$71
47 years$1,204$689$377$199$102$64
48 years$1,166$658$354$184$93$57
49 years$1,129$629$333$170$84$51
50 years$1,094$600$313$157$77$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 79 starting with $1,120,000, adding $5,597 every year, while hoping to spend $37,518 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: 62/27/11 Blend
78$1,120,000$1,120,000$1,120,000$1,120,000
79$1,240,013$1,180,653$1,163,293$1,313,409
80$1,326,576$1,198,586$1,162,345$1,381,186
81$1,420,710$1,216,141$1,160,107$1,450,321
82$1,523,149$1,233,258$1,156,497$1,524,853
83$1,634,699$1,249,877$1,151,429$1,605,306
84$1,756,247$1,265,929$1,144,810$1,692,258
85$1,888,770$1,281,345$1,136,546$1,786,343
86$2,033,341$1,296,048$1,126,538$1,888,264
87$2,191,144$1,309,956$1,114,679$1,998,794
88$2,363,480$1,322,984$1,100,860$2,118,785
89$2,551,784$1,335,039$1,084,967$2,249,178
90$2,757,632$1,346,021$1,066,880$2,391,009
91$2,982,761$1,355,828$1,046,472$2,545,422
92$3,229,086$1,364,346$1,023,611$2,713,676
93$3,498,710$1,371,457$998,160$2,897,161
94$3,793,955$1,377,035$969,975$3,097,411
95$4,117,374$1,380,945$938,904$3,316,114
96$4,471,779$1,383,044$904,790$3,555,134
97$4,860,268$1,383,181$867,468$3,816,527
98$5,286,252$1,381,194$826,766$4,102,557
99$5,753,490$1,376,912$782,502$4,415,724
100$6,266,119$1,370,153$734,489$4,758,781