Can I retire at age 79 with 1,320,000?

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 $1,320,000?

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$109,004$108,033$107,086$106,161$105,259$104,290
2 years$53,963$52,958$51,984$51,039$50,123$49,147
3 years$35,618$34,608$33,637$32,701$31,800$30,847
4 years$26,447$25,441$24,479$23,559$22,680$21,757
5 years$20,946$19,946$18,997$18,096$17,241$16,351
6 years$17,280$16,287$15,352$14,471$13,642$12,786
7 years$14,662$13,678$12,758$11,898$11,095$10,273
8 years$12,700$11,725$10,820$9,981$9,204$8,417
9 years$11,175$10,208$9,319$8,501$7,751$6,999
10 years$9,955$8,998$8,124$7,328$6,604$5,886
11 years$8,958$8,011$7,153$6,378$5,680$4,994
12 years$8,127$7,190$6,348$5,594$4,922$4,269
13 years$7,425$6,498$5,671$4,939$4,292$3,671
14 years$6,824$5,906$5,096$4,384$3,763$3,172
15 years$6,303$5,395$4,601$3,910$3,313$2,753
16 years$5,848$4,950$4,171$3,501$2,928$2,397
17 years$5,447$4,559$3,796$3,146$2,596$2,094
18 years$5,091$4,213$3,465$2,835$2,308$1,833
19 years$4,772$3,904$3,172$2,561$2,057$1,609
20 years$4,486$3,628$2,911$2,320$1,838$1,414
21 years$4,228$3,379$2,678$2,105$1,645$1,245
22 years$3,993$3,154$2,468$1,914$1,474$1,098
23 years$3,779$2,950$2,279$1,743$1,323$970
24 years$3,583$2,764$2,107$1,590$1,189$857
25 years$3,403$2,594$1,952$1,452$1,070$758
26 years$3,237$2,438$1,810$1,328$964$672
27 years$3,084$2,294$1,681$1,215$869$595
28 years$2,942$2,162$1,563$1,114$784$528
29 years$2,810$2,040$1,454$1,021$708$468
30 years$2,687$1,926$1,355$937$640$416
31 years$2,572$1,821$1,263$861$579$369
32 years$2,465$1,723$1,178$791$523$328
33 years$2,364$1,632$1,100$727$474$292
34 years$2,269$1,546$1,028$669$429$259
35 years$2,180$1,467$961$616$388$230
36 years$2,096$1,392$899$567$352$205
37 years$2,017$1,322$841$523$319$182
38 years$1,943$1,257$788$482$289$162
39 years$1,872$1,195$738$444$262$144
40 years$1,805$1,137$692$410$238$129
41 years$1,741$1,082$649$378$216$114
42 years$1,681$1,031$609$349$196$102
43 years$1,623$982$571$322$178$91
44 years$1,568$936$536$297$161$81
45 years$1,516$893$503$275$146$72
46 years$1,466$852$473$254$133$64
47 years$1,419$813$444$234$121$57
48 years$1,374$776$417$217$110$51
49 years$1,330$741$392$200$100$45
50 years$1,289$708$369$185$90$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 79 starting with $1,320,000, adding $2,315 every year, while hoping to spend $20,366 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: 34/47/19 Blend
78$1,320,000$1,320,000$1,320,000$1,320,000
79$1,457,028$1,387,068$1,366,608$1,497,986
80$1,583,976$1,433,365$1,390,720$1,574,653
81$1,723,189$1,481,248$1,414,957$1,655,225
82$1,875,899$1,530,773$1,439,302$1,741,685
83$2,043,458$1,581,999$1,463,737$1,834,566
84$2,227,359$1,634,986$1,488,241$1,934,454
85$2,429,246$1,689,796$1,512,793$2,041,991
86$2,650,928$1,746,495$1,537,370$2,157,882
87$2,894,399$1,805,150$1,561,949$2,282,904
88$3,161,856$1,865,830$1,586,503$2,417,908
89$3,455,720$1,928,610$1,611,004$2,563,832
90$3,778,654$1,993,563$1,635,424$2,721,706
91$4,133,598$2,060,768$1,659,732$2,892,663
92$4,523,785$2,130,307$1,683,893$3,077,949
93$4,952,782$2,202,262$1,707,874$3,278,934
94$5,424,514$2,276,721$1,731,636$3,497,125
95$5,943,309$2,353,776$1,755,141$3,734,180
96$6,513,935$2,433,519$1,778,346$3,991,924
97$7,141,643$2,516,048$1,801,208$4,272,365
98$7,832,221$2,601,465$1,823,679$4,577,710
99$8,592,046$2,689,874$1,845,709$4,910,392
100$9,428,141$2,781,385$1,867,248$5,273,086