Can I retire at age 79 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$160,203$158,776$157,384$156,025$154,698$152,765
2 years$79,309$77,832$76,400$75,012$73,666$71,721
3 years$52,347$50,864$49,436$48,061$46,737$44,840
4 years$38,869$37,390$35,977$34,625$33,333$31,499
5 years$30,784$29,314$27,919$26,596$25,339$23,574
6 years$25,396$23,937$22,563$21,269$20,050$18,355
7 years$21,549$20,103$18,750$17,486$16,306$14,682
8 years$18,665$17,232$15,901$14,669$13,527$11,975
9 years$16,423$15,003$13,696$12,494$11,392$9,910
10 years$14,631$13,225$11,940$10,770$9,707$8,294
11 years$13,165$11,773$10,512$9,373$8,348$7,003
12 years$11,945$10,567$9,329$8,222$7,234$5,956
13 years$10,913$9,549$8,335$7,259$6,308$5,095
14 years$10,029$8,680$7,489$6,443$5,530$4,379
15 years$9,264$7,929$6,762$5,746$4,869$3,780
16 years$8,595$7,275$6,130$5,145$4,303$3,273
17 years$8,005$6,700$5,578$4,623$3,816$2,843
18 years$7,482$6,191$5,092$4,166$3,393$2,475
19 years$7,014$5,738$4,662$3,765$3,024$2,159
20 years$6,593$5,332$4,278$3,409$2,701$1,887
21 years$6,213$4,967$3,935$3,094$2,417$1,652
22 years$5,868$4,636$3,627$2,813$2,167$1,448
23 years$5,554$4,336$3,349$2,562$1,945$1,271
24 years$5,266$4,063$3,097$2,337$1,748$1,116
25 years$5,002$3,813$2,869$2,134$1,573$982
26 years$4,758$3,583$2,660$1,951$1,417$864
27 years$4,533$3,372$2,470$1,786$1,277$761
28 years$4,324$3,178$2,297$1,637$1,153$670
29 years$4,130$2,998$2,137$1,501$1,041$591
30 years$3,949$2,831$1,991$1,377$940$521
31 years$3,780$2,676$1,856$1,265$850$460
32 years$3,622$2,532$1,732$1,163$769$406
33 years$3,474$2,398$1,617$1,069$696$358
34 years$3,335$2,273$1,511$984$630$316
35 years$3,204$2,156$1,412$905$571$279
36 years$3,081$2,046$1,321$834$517$247
37 years$2,965$1,943$1,237$768$469$218
38 years$2,855$1,847$1,158$708$425$193
39 years$2,751$1,756$1,085$653$385$170
40 years$2,652$1,671$1,017$602$350$151
41 years$2,559$1,591$954$556$317$133
42 years$2,470$1,515$894$513$288$118
43 years$2,385$1,443$839$473$261$104
44 years$2,305$1,376$788$437$237$92
45 years$2,228$1,312$740$404$215$82
46 years$2,155$1,251$695$373$195$72
47 years$2,086$1,194$653$345$177$64
48 years$2,019$1,140$613$318$161$56
49 years$1,955$1,089$577$294$146$50
50 years$1,894$1,040$542$272$133$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 79 starting with $1,940,000, adding $3,187 every year, while hoping to spend $50,313 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: 65/19/16 Blend
78$1,940,000$1,940,000$1,940,000$1,940,000
79$2,141,167$2,038,347$2,008,277$2,271,804
80$2,306,034$2,084,694$2,022,022$2,406,008
81$2,486,030$2,131,625$2,034,541$2,546,500
82$2,682,647$2,179,116$2,045,740$2,698,795
83$2,897,525$2,227,140$2,055,519$2,864,046
84$3,132,469$2,275,667$2,063,776$3,043,524
85$3,389,469$2,324,662$2,070,400$3,238,628
86$3,670,713$2,374,090$2,075,277$3,450,900
87$3,978,613$2,423,907$2,078,287$3,682,041
88$4,315,824$2,474,071$2,079,302$3,933,920
89$4,685,269$2,524,532$2,078,190$4,208,603
90$5,090,169$2,575,236$2,074,811$4,508,360
91$5,534,069$2,626,125$2,069,020$4,835,696
92$6,020,874$2,677,136$2,060,662$5,193,372
93$6,554,888$2,728,200$2,049,579$5,584,429
94$7,140,847$2,779,242$2,035,600$6,012,217
95$7,783,970$2,830,182$2,018,550$6,480,431
96$8,490,007$2,880,933$1,998,244$6,993,140
97$9,265,291$2,931,401$1,974,487$7,554,830
98$10,116,796$2,981,486$1,947,078$8,170,445
99$11,052,207$3,031,077$1,915,804$8,845,431
100$12,079,991$3,080,058$1,880,442$9,585,794