Can I retire at age 79 with 1,960,000?

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 $1,960,000?

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$161,855$160,413$159,007$157,634$156,293$154,790
2 years$80,126$78,634$77,188$75,785$74,425$72,911
3 years$52,887$51,388$49,946$48,556$47,218$45,740
4 years$39,270$37,776$36,348$34,982$33,677$32,245
5 years$31,102$29,617$28,207$26,870$25,600$24,221
6 years$25,658$24,184$22,796$21,488$20,257$18,930
7 years$21,771$20,310$18,943$17,666$16,474$15,201
8 years$18,858$17,409$16,065$14,820$13,667$12,448
9 years$16,593$15,158$13,837$12,623$11,510$10,344
10 years$14,782$13,361$12,064$10,881$9,807$8,693
11 years$13,301$11,894$10,621$9,470$8,434$7,373
12 years$12,068$10,676$9,425$8,307$7,309$6,298
13 years$11,025$9,648$8,421$7,333$6,373$5,412
14 years$10,132$8,770$7,566$6,510$5,587$4,674
15 years$9,359$8,011$6,831$5,806$4,919$4,053
16 years$8,684$7,350$6,194$5,198$4,348$3,527
17 years$8,088$6,769$5,636$4,671$3,855$3,078
18 years$7,559$6,255$5,145$4,209$3,428$2,693
19 years$7,086$5,797$4,710$3,803$3,055$2,362
20 years$6,661$5,387$4,323$3,445$2,729$2,075
21 years$6,278$5,018$3,976$3,126$2,442$1,826
22 years$5,929$4,684$3,664$2,842$2,189$1,609
23 years$5,611$4,381$3,383$2,589$1,965$1,420
24 years$5,320$4,104$3,129$2,361$1,766$1,254
25 years$5,053$3,852$2,898$2,156$1,589$1,108
26 years$4,807$3,620$2,688$1,972$1,431$981
27 years$4,579$3,407$2,496$1,805$1,291$868
28 years$4,368$3,210$2,320$1,653$1,165$770
29 years$4,172$3,029$2,159$1,516$1,052$682
30 years$3,990$2,860$2,011$1,392$950$605
31 years$3,819$2,704$1,875$1,278$859$537
32 years$3,660$2,558$1,749$1,174$777$477
33 years$3,510$2,423$1,633$1,080$703$423
34 years$3,370$2,296$1,526$994$637$376
35 years$3,237$2,178$1,427$915$577$334
36 years$3,113$2,067$1,335$843$522$297
37 years$2,995$1,963$1,249$776$474$264
38 years$2,884$1,866$1,170$715$429$235
39 years$2,779$1,774$1,096$660$389$209
40 years$2,680$1,688$1,027$608$353$186
41 years$2,585$1,607$963$561$320$165
42 years$2,495$1,530$904$518$291$147
43 years$2,410$1,458$848$478$264$131
44 years$2,329$1,390$796$442$239$116
45 years$2,251$1,325$747$408$217$103
46 years$2,178$1,264$702$377$197$92
47 years$2,107$1,207$660$348$179$82
48 years$2,040$1,152$620$322$163$73
49 years$1,975$1,100$583$297$148$65
50 years$1,914$1,051$548$275$134$58

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 79 starting with $1,960,000, adding $3,640 every year, while hoping to spend $48,364 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: 64/29/7 Blend
78$1,960,000$1,960,000$1,960,000$1,960,000
79$2,163,675$2,059,795$2,029,415$2,299,117
80$2,332,911$2,109,266$2,045,941$2,439,240
81$2,517,788$2,159,540$2,061,400$2,586,175
82$2,719,850$2,210,605$2,075,705$2,745,392
83$2,940,798$2,262,448$2,088,765$2,918,079
84$3,182,504$2,315,053$2,100,483$3,105,545
85$3,447,029$2,368,400$2,110,758$3,309,232
86$3,736,642$2,422,468$2,119,485$3,530,724
87$4,053,844$2,477,233$2,126,552$3,771,771
88$4,401,386$2,532,667$2,131,842$4,034,297
89$4,782,300$2,588,741$2,135,231$4,320,421
90$5,199,924$2,645,419$2,136,591$4,632,479
91$5,657,936$2,702,664$2,135,786$4,973,043
92$6,160,384$2,760,433$2,132,674$5,344,946
93$6,711,731$2,818,682$2,127,107$5,751,309
94$7,316,890$2,877,359$2,118,926$6,195,572
95$7,981,272$2,936,409$2,107,970$6,681,523
96$8,710,840$2,995,772$2,094,065$7,213,337
97$9,512,161$3,055,380$2,077,032$7,795,612
98$10,392,471$3,115,164$2,056,682$8,433,416
99$11,359,740$3,175,043$2,032,818$9,132,333
100$12,422,748$3,234,935$2,005,232$9,898,514