Can I retire at age 79 with 1,580,000?

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 $1,580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$130,475$129,313$128,179$127,072$125,991$123,650
2 years$64,592$63,389$62,223$61,092$59,996$57,646
3 years$42,633$41,425$40,262$39,142$38,064$35,778
4 years$31,656$30,452$29,301$28,200$27,147$24,944
5 years$25,072$23,875$22,738$21,660$20,637$18,522
6 years$20,684$19,495$18,376$17,322$16,329$14,305
7 years$17,550$16,372$15,271$14,241$13,280$11,347
8 years$15,202$14,034$12,951$11,947$11,017$9,175
9 years$13,376$12,219$11,154$10,176$9,278$7,525
10 years$11,916$10,771$9,725$8,772$7,905$6,240
11 years$10,722$9,588$8,561$7,634$6,799$5,220
12 years$9,728$8,606$7,598$6,696$5,892$4,397
13 years$8,888$7,777$6,788$5,912$5,138$3,724
14 years$8,168$7,069$6,099$5,248$4,504$3,169
15 years$7,545$6,458$5,507$4,680$3,965$2,707
16 years$7,000$5,925$4,993$4,190$3,505$2,320
17 years$6,520$5,457$4,543$3,765$3,107$1,994
18 years$6,093$5,042$4,147$3,393$2,763$1,717
19 years$5,712$4,673$3,797$3,066$2,463$1,482
20 years$5,370$4,343$3,484$2,777$2,200$1,281
21 years$5,060$4,045$3,205$2,520$1,969$1,108
22 years$4,779$3,776$2,954$2,291$1,765$961
23 years$4,523$3,531$2,727$2,087$1,584$833
24 years$4,289$3,309$2,522$1,903$1,424$723
25 years$4,073$3,105$2,336$1,738$1,281$629
26 years$3,875$2,918$2,167$1,589$1,154$547
27 years$3,692$2,746$2,012$1,455$1,040$476
28 years$3,521$2,588$1,870$1,333$939$414
29 years$3,363$2,441$1,741$1,222$848$360
30 years$3,216$2,306$1,621$1,122$766$314
31 years$3,079$2,180$1,512$1,030$692$274
32 years$2,950$2,062$1,410$947$626$239
33 years$2,830$1,953$1,317$871$567$208
34 years$2,716$1,851$1,230$801$513$181
35 years$2,610$1,756$1,150$737$465$158
36 years$2,509$1,666$1,076$679$421$138
37 years$2,415$1,583$1,007$626$382$120
38 years$2,325$1,504$943$577$346$105
39 years$2,240$1,430$884$532$314$92
40 years$2,160$1,361$828$491$285$80
41 years$2,084$1,295$777$453$258$70
42 years$2,012$1,234$728$418$234$61
43 years$1,943$1,175$684$386$213$53
44 years$1,877$1,120$642$356$193$46
45 years$1,815$1,068$603$329$175$41
46 years$1,755$1,019$566$304$159$35
47 years$1,699$973$532$281$144$31
48 years$1,644$929$500$259$131$27
49 years$1,592$887$470$240$119$24
50 years$1,543$847$441$221$108$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 79 starting with $1,580,000, adding $2,839 every year, while hoping to spend $49,982 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: 61/12/27 Blend
78$1,580,000$1,580,000$1,580,000$1,580,000
79$1,744,088$1,660,348$1,635,858$1,837,668
80$1,868,805$1,688,525$1,637,479$1,929,833
81$2,004,567$1,716,407$1,637,479$2,024,734
82$2,152,450$1,743,927$1,635,751$2,127,259
83$2,313,634$1,771,014$1,632,183$2,238,161
84$2,489,420$1,797,589$1,626,656$2,358,273
85$2,681,240$1,823,570$1,619,048$2,488,512
86$2,890,669$1,848,868$1,609,229$2,629,890
87$3,119,442$1,873,387$1,597,064$2,783,523
88$3,369,469$1,897,027$1,582,409$2,950,643
89$3,642,852$1,919,678$1,565,116$3,132,608
90$3,941,905$1,941,225$1,545,030$3,330,916
91$4,269,177$1,961,543$1,521,987$3,547,218
92$4,627,475$1,980,500$1,495,815$3,783,338
93$5,019,888$1,997,956$1,466,336$4,041,285
94$5,449,821$2,013,759$1,433,362$4,323,277
95$5,921,021$2,027,752$1,396,698$4,631,756
96$6,437,616$2,039,762$1,356,138$4,969,421
97$7,004,151$2,049,610$1,311,468$5,339,245
98$7,625,636$2,057,102$1,262,463$5,744,507
99$8,307,584$2,062,033$1,208,889$6,188,823
100$9,056,071$2,064,186$1,150,500$6,676,182