Can I retire at age 79 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$100,746$99,849$98,974$98,119$97,285$95,437
2 years$49,874$48,946$48,045$47,173$46,326$44,472
3 years$32,919$31,987$31,089$30,224$29,391$27,589
4 years$24,443$23,513$22,625$21,775$20,962$19,224
5 years$19,359$18,435$17,558$16,725$15,935$14,267
6 years$15,971$15,053$14,189$13,375$12,609$11,013
7 years$13,552$12,642$11,791$10,996$10,254$8,731
8 years$11,738$10,836$10,000$9,225$8,507$7,055
9 years$10,328$9,435$8,613$7,857$7,164$5,783
10 years$9,201$8,317$7,509$6,773$6,104$4,793
11 years$8,279$7,404$6,611$5,895$5,250$4,007
12 years$7,512$6,645$5,867$5,170$4,549$3,373
13 years$6,863$6,005$5,242$4,565$3,967$2,855
14 years$6,307$5,459$4,710$4,052$3,478$2,428
15 years$5,826$4,987$4,252$3,614$3,062$2,073
16 years$5,405$4,575$3,855$3,236$2,706$1,775
17 years$5,034$4,213$3,508$2,907$2,399$1,524
18 years$4,705$3,893$3,202$2,620$2,133$1,312
19 years$4,411$3,608$2,932$2,367$1,902$1,131
20 years$4,146$3,353$2,691$2,144$1,699$977
21 years$3,907$3,123$2,475$1,946$1,520$845
22 years$3,690$2,915$2,281$1,769$1,362$732
23 years$3,493$2,727$2,106$1,611$1,223$634
24 years$3,312$2,555$1,948$1,470$1,099$550
25 years$3,145$2,398$1,804$1,342$989$478
26 years$2,992$2,253$1,673$1,227$891$415
27 years$2,850$2,121$1,554$1,123$803$361
28 years$2,719$1,998$1,444$1,029$725$314
29 years$2,597$1,885$1,344$944$655$273
30 years$2,483$1,780$1,252$866$591$238
31 years$2,377$1,683$1,167$795$535$207
32 years$2,278$1,592$1,089$731$484$180
33 years$2,185$1,508$1,017$672$438$157
34 years$2,097$1,429$950$619$396$137
35 years$2,015$1,356$888$569$359$119
36 years$1,938$1,287$831$524$325$104
37 years$1,864$1,222$778$483$295$91
38 years$1,795$1,161$728$445$267$79
39 years$1,730$1,104$682$411$242$69
40 years$1,668$1,051$640$379$220$60
41 years$1,609$1,000$600$349$199$52
42 years$1,553$953$563$323$181$46
43 years$1,500$908$528$298$164$40
44 years$1,450$865$495$275$149$35
45 years$1,401$825$465$254$135$30
46 years$1,355$787$437$234$123$26
47 years$1,312$751$411$217$112$23
48 years$1,270$717$386$200$101$20
49 years$1,230$685$363$185$92$18
50 years$1,191$654$341$171$84$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 79 starting with $1,220,000, adding $3,663 every year, while hoping to spend $29,603 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: 34/40/26 Blend
78$1,220,000$1,220,000$1,220,000$1,220,000
79$1,348,218$1,283,558$1,264,648$1,383,317
80$1,454,239$1,314,955$1,275,517$1,441,358
81$1,570,082$1,346,899$1,285,757$1,500,979
82$1,696,718$1,379,384$1,295,317$1,564,691
83$1,835,214$1,412,405$1,304,141$1,632,876
84$1,986,749$1,445,955$1,312,173$1,705,958
85$2,152,616$1,480,026$1,319,350$1,784,401
86$2,334,244$1,514,608$1,325,609$1,868,718
87$2,533,202$1,549,690$1,330,882$1,959,476
88$2,751,222$1,585,257$1,335,099$2,057,299
89$2,990,207$1,621,296$1,338,187$2,162,874
90$3,252,258$1,657,789$1,340,066$2,276,959
91$3,539,685$1,694,718$1,340,654$2,400,391
92$3,855,034$1,732,060$1,339,868$2,534,091
93$4,201,110$1,769,793$1,337,615$2,679,077
94$4,581,000$1,807,889$1,333,802$2,836,468
95$4,998,107$1,846,321$1,328,329$3,007,502
96$5,456,179$1,885,056$1,321,094$3,193,541
97$5,959,345$1,924,060$1,311,986$3,396,088
98$6,512,153$1,963,293$1,300,892$3,616,801
99$7,119,613$2,002,715$1,287,693$3,857,508
100$7,787,246$2,042,281$1,272,263$4,120,225