Can I retire at age 79 with 1,600,000?

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 $1,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$132,127$130,950$129,801$128,681$127,586$124,857
2 years$65,409$64,191$63,010$61,866$60,755$58,019
3 years$43,173$41,950$40,772$39,638$38,546$35,888
4 years$32,057$30,837$29,671$28,557$27,491$24,932
5 years$25,389$24,177$23,026$21,934$20,898$18,445
6 years$20,945$19,742$18,609$17,541$16,536$14,191
7 years$17,773$16,579$15,464$14,422$13,448$11,213
8 years$15,394$14,212$13,115$12,098$11,157$9,029
9 years$13,545$12,374$11,296$10,305$9,396$7,375
10 years$12,067$10,907$9,848$8,883$8,005$6,090
11 years$10,858$9,710$8,670$7,731$6,885$5,071
12 years$9,851$8,715$7,694$6,781$5,966$4,252
13 years$9,000$7,876$6,874$5,986$5,203$3,585
14 years$8,271$7,159$6,177$5,314$4,561$3,037
15 years$7,640$6,540$5,577$4,739$4,016$2,581
16 years$7,089$6,000$5,056$4,243$3,549$2,201
17 years$6,602$5,526$4,601$3,813$3,147$1,882
18 years$6,171$5,106$4,200$3,436$2,798$1,613
19 years$5,785$4,732$3,845$3,105$2,494$1,384
20 years$5,438$4,398$3,529$2,812$2,228$1,190
21 years$5,124$4,096$3,246$2,552$1,993$1,025
22 years$4,840$3,824$2,991$2,320$1,787$883
23 years$4,581$3,576$2,762$2,113$1,604$762
24 years$4,343$3,351$2,554$1,927$1,442$658
25 years$4,125$3,144$2,366$1,760$1,297$569
26 years$3,924$2,955$2,194$1,609$1,169$492
27 years$3,738$2,781$2,038$1,473$1,054$425
28 years$3,566$2,621$1,894$1,350$951$368
29 years$3,406$2,472$1,763$1,238$858$319
30 years$3,257$2,335$1,642$1,136$776$276
31 years$3,118$2,207$1,531$1,043$701$239
32 years$2,987$2,088$1,428$959$634$207
33 years$2,865$1,978$1,333$882$574$180
34 years$2,751$1,875$1,246$811$520$156
35 years$2,643$1,778$1,165$747$471$135
36 years$2,541$1,688$1,090$688$427$117
37 years$2,445$1,603$1,020$634$387$102
38 years$2,355$1,523$955$584$350$88
39 years$2,269$1,448$895$539$318$76
40 years$2,187$1,378$839$497$288$66
41 years$2,110$1,312$786$458$262$58
42 years$2,037$1,249$738$423$237$50
43 years$1,967$1,190$692$390$215$43
44 years$1,901$1,135$650$361$195$38
45 years$1,838$1,082$610$333$177$33
46 years$1,778$1,032$573$308$161$28
47 years$1,720$985$538$284$146$25
48 years$1,665$940$506$263$133$21
49 years$1,612$898$476$243$121$19
50 years$1,562$858$447$224$110$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 79 starting with $1,600,000, adding $5,232 every year, while hoping to spend $42,664 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: 42/38/20 Blend
78$1,600,000$1,600,000$1,600,000$1,600,000
79$1,768,597$1,683,797$1,658,997$1,832,319
80$1,903,600$1,720,909$1,669,179$1,915,164
81$2,050,943$1,758,409$1,678,272$2,000,286
82$2,211,840$1,796,272$1,686,196$2,091,587
83$2,387,627$1,834,469$1,692,863$2,189,656
84$2,579,775$1,872,968$1,698,184$2,295,143
85$2,789,903$1,911,735$1,702,064$2,408,765
86$3,019,795$1,950,732$1,704,405$2,531,310
87$3,271,414$1,989,917$1,705,102$2,663,651
88$3,546,921$2,029,245$1,704,046$2,806,746
89$3,848,696$2,068,669$1,701,121$2,961,655
90$4,179,363$2,108,133$1,696,208$3,129,546
91$4,541,808$2,147,581$1,689,181$3,311,705
92$4,939,211$2,186,952$1,679,907$3,509,553
93$5,375,075$2,226,176$1,668,248$3,724,655
94$5,853,256$2,265,183$1,654,059$3,958,739
95$6,378,005$2,303,893$1,637,186$4,213,707
96$6,954,001$2,342,224$1,617,472$4,491,661
97$7,586,401$2,380,084$1,594,748$4,794,915
98$8,280,882$2,417,376$1,568,840$5,126,025
99$9,043,701$2,453,997$1,539,566$5,487,805
100$9,881,751$2,489,835$1,506,733$5,883,363