Can I retire at age 79 with 970,000?

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 $970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$80,102$79,388$78,692$78,013$77,349$74,664
2 years$39,654$38,916$38,200$37,506$36,833$34,156
3 years$26,174$25,432$24,718$24,030$23,368$20,783
4 years$19,435$18,695$17,988$17,313$16,666$14,192
5 years$15,392$14,657$13,960$13,298$12,670$10,314
6 years$12,698$11,969$11,282$10,634$10,025$7,789
7 years$10,775$10,051$9,375$8,743$8,153$6,036
8 years$9,333$8,616$7,951$7,334$6,764$4,765
9 years$8,212$7,502$6,848$6,247$5,696$3,813
10 years$7,315$6,612$5,970$5,385$4,853$3,082
11 years$6,583$5,887$5,256$4,687$4,174$2,511
12 years$5,972$5,283$4,665$4,111$3,617$2,059
13 years$5,456$4,775$4,168$3,629$3,154$1,697
14 years$5,015$4,340$3,745$3,222$2,765$1,404
15 years$4,632$3,965$3,381$2,873$2,434$1,165
16 years$4,297$3,638$3,065$2,573$2,152$970
17 years$4,003$3,350$2,789$2,311$1,908$809
18 years$3,741$3,096$2,546$2,083$1,696$676
19 years$3,507$2,869$2,331$1,882$1,512$565
20 years$3,297$2,666$2,139$1,705$1,350$474
21 years$3,107$2,483$1,968$1,547$1,209$397
22 years$2,934$2,318$1,814$1,407$1,083$333
23 years$2,777$2,168$1,674$1,281$972$280
24 years$2,633$2,031$1,549$1,168$874$235
25 years$2,501$1,906$1,434$1,067$786$198
26 years$2,379$1,792$1,330$976$708$167
27 years$2,266$1,686$1,235$893$639$140
28 years$2,162$1,589$1,148$818$576$118
29 years$2,065$1,499$1,069$750$520$99
30 years$1,975$1,415$995$689$470$84
31 years$1,890$1,338$928$632$425$71
32 years$1,811$1,266$866$581$385$59
33 years$1,737$1,199$808$535$348$50
34 years$1,668$1,136$755$492$315$42
35 years$1,602$1,078$706$453$285$36
36 years$1,541$1,023$661$417$259$30
37 years$1,482$972$618$384$234$25
38 years$1,427$923$579$354$212$21
39 years$1,375$878$542$326$193$18
40 years$1,326$835$508$301$175$15
41 years$1,279$795$477$278$159$13
42 years$1,235$757$447$256$144$11
43 years$1,193$722$420$237$131$9
44 years$1,152$688$394$219$119$8
45 years$1,114$656$370$202$108$6
46 years$1,078$626$347$186$98$5
47 years$1,043$597$326$172$89$5
48 years$1,009$570$307$159$81$4
49 years$978$544$288$147$73$3
50 years$947$520$271$136$66$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 79 starting with $970,000, adding $4,359 every year, while hoping to spend $32,494 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: 35/48/17 Blend
78$970,000$970,000$970,000$970,000
79$1,073,436$1,022,026$1,006,991$1,105,267
80$1,148,353$1,037,532$1,006,152$1,144,358
81$1,229,823$1,052,709$1,004,196$1,183,150
82$1,318,479$1,067,506$1,001,051$1,224,316
83$1,415,020$1,081,869$996,641$1,268,084
84$1,520,212$1,095,741$990,889$1,314,708
85$1,634,901$1,109,059$983,711$1,364,469
86$1,760,016$1,121,759$975,021$1,417,676
87$1,896,582$1,133,769$964,728$1,474,673
88$2,045,723$1,145,014$952,737$1,535,841
89$2,208,682$1,155,415$938,948$1,601,599
90$2,386,823$1,164,885$923,258$1,672,413
91$2,581,649$1,173,335$905,558$1,748,798
92$2,794,815$1,180,666$885,732$1,831,324
93$3,028,145$1,186,777$863,662$1,920,622
94$3,283,644$1,191,558$839,223$2,017,387
95$3,563,523$1,194,891$812,284$2,122,390
96$3,870,215$1,196,654$782,709$2,236,485
97$4,206,401$1,196,714$750,354$2,360,614
98$4,575,033$1,194,932$715,070$2,495,819
99$4,979,362$1,191,159$676,700$2,643,251
100$5,422,969$1,185,239$635,082$2,804,185