Can I retire at age 79 with 1,640,000?

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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$135,430$134,223$133,046$131,898$130,776$129,518
2 years$67,044$65,796$64,586$63,412$62,274$61,007
3 years$44,252$42,998$41,791$40,629$39,509$38,272
4 years$32,858$31,608$30,413$29,271$28,178$26,981
5 years$26,024$24,781$23,602$22,483$21,421$20,266
6 years$21,469$20,236$19,074$17,980$16,950$15,840
7 years$18,217$16,994$15,850$14,782$13,784$12,719
8 years$15,779$14,567$13,442$12,400$11,436$10,416
9 years$13,884$12,683$11,578$10,562$9,630$8,655
10 years$12,368$11,180$10,094$9,105$8,206$7,274
11 years$11,129$9,953$8,887$7,924$7,057$6,169
12 years$10,098$8,933$7,887$6,950$6,116$5,270
13 years$9,225$8,073$7,046$6,136$5,333$4,528
14 years$8,478$7,338$6,331$5,447$4,675$3,911
15 years$7,831$6,703$5,716$4,858$4,116$3,391
16 years$7,266$6,150$5,182$4,350$3,638$2,951
17 years$6,767$5,664$4,716$3,908$3,225$2,576
18 years$6,325$5,234$4,305$3,522$2,868$2,254
19 years$5,929$4,851$3,941$3,182$2,556$1,976
20 years$5,574$4,507$3,617$2,882$2,283$1,736
21 years$5,253$4,199$3,327$2,616$2,043$1,528
22 years$4,961$3,919$3,066$2,378$1,832$1,346
23 years$4,695$3,666$2,831$2,166$1,644$1,188
24 years$4,452$3,434$2,618$1,976$1,478$1,049
25 years$4,228$3,223$2,425$1,804$1,330$928
26 years$4,022$3,029$2,249$1,650$1,198$821
27 years$3,832$2,851$2,088$1,510$1,080$727
28 years$3,655$2,686$1,941$1,383$974$644
29 years$3,491$2,534$1,807$1,269$880$571
30 years$3,338$2,393$1,683$1,164$795$506
31 years$3,196$2,262$1,569$1,069$719$449
32 years$3,062$2,141$1,464$983$650$399
33 years$2,937$2,027$1,367$904$588$354
34 years$2,819$1,921$1,277$831$533$315
35 years$2,709$1,822$1,194$765$483$280
36 years$2,605$1,730$1,117$705$437$248
37 years$2,506$1,643$1,045$650$396$221
38 years$2,413$1,561$979$599$359$196
39 years$2,325$1,485$917$552$326$175
40 years$2,242$1,412$860$509$295$155
41 years$2,163$1,345$806$470$268$138
42 years$2,088$1,281$756$434$243$123
43 years$2,017$1,220$710$400$221$109
44 years$1,949$1,163$666$370$200$97
45 years$1,884$1,109$625$341$182$87
46 years$1,822$1,058$587$315$165$77
47 years$1,763$1,010$552$291$150$69
48 years$1,707$964$519$269$136$61
49 years$1,653$920$487$249$124$54
50 years$1,601$879$458$230$112$48

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 79 starting with $1,640,000, adding $6,524 every year, while hoping to spend $45,465 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: 66/19/15 Blend
78$1,640,000$1,640,000$1,640,000$1,640,000
79$1,814,010$1,727,090$1,701,670$1,926,843
80$1,950,664$1,763,342$1,710,301$2,039,298
81$2,099,734$1,799,848$1,717,698$2,156,267
82$2,262,436$1,836,571$1,723,771$2,282,993
83$2,440,114$1,873,471$1,728,426$2,420,429
84$2,634,242$1,910,508$1,731,564$2,569,627
85$2,846,445$1,947,634$1,733,083$2,731,743
86$3,078,515$1,984,800$1,732,873$2,908,052
87$3,332,420$2,021,951$1,730,821$3,099,959
88$3,610,330$2,059,030$1,726,807$3,309,011
89$3,914,634$2,095,973$1,720,705$3,536,914
90$4,247,962$2,132,711$1,712,384$3,785,547
91$4,613,212$2,169,172$1,701,707$4,056,982
92$5,013,574$2,205,276$1,688,529$4,353,502
93$5,452,563$2,240,939$1,672,699$4,677,621
94$5,934,048$2,276,068$1,654,057$5,032,113
95$6,462,292$2,310,566$1,632,439$5,420,032
96$7,041,990$2,344,329$1,607,671$5,844,745
97$7,678,315$2,377,243$1,579,569$6,309,965
98$8,376,963$2,409,188$1,547,945$6,819,781
99$9,144,210$2,440,035$1,512,598$7,378,701
100$9,986,970$2,469,647$1,473,320$7,991,694