Can I retire at age 79 with 1,740,000?

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 $1,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$143,688$142,408$141,159$139,940$138,750$135,176
2 years$71,132$69,808$68,524$67,279$66,071$62,495
3 years$46,951$45,620$44,339$43,106$41,918$38,451
4 years$34,862$33,536$32,268$31,056$29,897$26,565
5 years$27,611$26,292$25,041$23,854$22,727$19,540
6 years$22,778$21,470$20,237$19,076$17,983$14,944
7 years$19,328$18,030$16,817$15,683$14,625$11,734
8 years$16,741$15,455$14,262$13,156$12,133$9,389
9 years$14,730$13,457$12,284$11,206$10,218$7,618
10 years$13,122$11,861$10,709$9,660$8,706$6,247
11 years$11,808$10,559$9,428$8,407$7,487$5,166
12 years$10,713$9,478$8,367$7,374$6,488$4,301
13 years$9,788$8,565$7,476$6,510$5,658$3,600
14 years$8,995$7,785$6,717$5,779$4,960$3,026
15 years$8,309$7,112$6,065$5,154$4,367$2,553
16 years$7,709$6,525$5,498$4,615$3,860$2,160
17 years$7,180$6,009$5,003$4,146$3,422$1,832
18 years$6,711$5,553$4,567$3,737$3,043$1,557
19 years$6,291$5,146$4,181$3,376$2,712$1,326
20 years$5,914$4,782$3,837$3,058$2,423$1,130
21 years$5,573$4,455$3,530$2,775$2,168$965
22 years$5,263$4,158$3,253$2,523$1,943$825
23 years$4,981$3,889$3,004$2,298$1,744$705
24 years$4,723$3,644$2,778$2,096$1,568$604
25 years$4,486$3,419$2,573$1,914$1,411$517
26 years$4,267$3,214$2,386$1,750$1,271$443
27 years$4,065$3,025$2,216$1,602$1,146$380
28 years$3,878$2,850$2,060$1,468$1,034$326
29 years$3,704$2,689$1,917$1,346$934$280
30 years$3,542$2,539$1,786$1,235$843$240
31 years$3,391$2,400$1,665$1,135$763$206
32 years$3,249$2,271$1,553$1,043$690$177
33 years$3,116$2,151$1,450$959$624$152
34 years$2,991$2,039$1,355$882$565$131
35 years$2,874$1,934$1,267$812$512$112
36 years$2,764$1,835$1,185$748$464$96
37 years$2,659$1,743$1,109$689$420$83
38 years$2,561$1,656$1,039$635$381$71
39 years$2,467$1,575$973$586$346$61
40 years$2,379$1,499$912$540$313$53
41 years$2,295$1,427$855$498$284$45
42 years$2,215$1,359$802$460$258$39
43 years$2,139$1,294$753$425$234$33
44 years$2,067$1,234$707$392$213$29
45 years$1,999$1,177$664$362$193$25
46 years$1,933$1,122$623$334$175$21
47 years$1,871$1,071$585$309$159$18
48 years$1,811$1,023$550$286$145$16
49 years$1,754$977$517$264$131$13
50 years$1,699$933$486$244$119$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 79 starting with $1,740,000, adding $5,031 every year, while hoping to spend $40,560 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: 32/41/27 Blend
78$1,740,000$1,740,000$1,740,000$1,740,000
79$1,922,669$1,830,449$1,803,479$1,968,200
80$2,075,626$1,876,986$1,820,741$2,049,956
81$2,242,825$1,924,443$1,837,220$2,134,011
82$2,425,676$1,972,824$1,852,850$2,223,747
83$2,625,732$2,022,129$1,867,557$2,319,694
84$2,844,701$2,072,358$1,881,265$2,422,431
85$3,084,466$2,123,509$1,893,893$2,532,600
86$3,347,099$2,175,579$1,905,356$2,650,907
87$3,634,884$2,228,563$1,915,566$2,778,130
88$3,950,334$2,282,454$1,924,430$2,915,126
89$4,296,218$2,337,244$1,931,847$3,062,840
90$4,675,584$2,392,921$1,937,717$3,222,315
91$5,091,793$2,449,473$1,941,929$3,394,699
92$5,548,542$2,506,884$1,944,370$3,581,258
93$6,049,908$2,565,135$1,944,921$3,783,389
94$6,600,378$2,624,207$1,943,456$4,002,630
95$7,204,898$2,684,074$1,939,843$4,240,677
96$7,868,915$2,744,711$1,933,944$4,499,403
97$8,598,428$2,806,085$1,925,615$4,780,869
98$9,400,048$2,868,164$1,914,704$5,087,349
99$10,281,058$2,930,909$1,901,051$5,421,352
100$11,249,480$2,994,278$1,884,491$5,785,641