Can I retire at age 76 with 1,050,000?

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 $1,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$86,708$85,936$85,182$84,447$83,728$81,871
2 years$42,925$42,125$41,351$40,599$39,871$38,009
3 years$28,332$27,529$26,757$26,012$25,296$23,487
4 years$21,037$20,237$19,472$18,740$18,041$16,301
5 years$16,662$15,866$15,111$14,394$13,715$12,047
6 years$13,745$12,956$12,212$11,511$10,852$9,259
7 years$11,663$10,880$10,148$9,464$8,825$7,307
8 years$10,102$9,326$8,606$7,939$7,322$5,877
9 years$8,889$8,120$7,413$6,762$6,166$4,795
10 years$7,919$7,158$6,463$5,829$5,254$3,954
11 years$7,125$6,372$5,690$5,073$4,518$3,289
12 years$6,465$5,719$5,049$4,450$3,915$2,754
13 years$5,906$5,168$4,511$3,929$3,414$2,319
14 years$5,428$4,698$4,053$3,487$2,993$1,961
15 years$5,014$4,292$3,660$3,110$2,635$1,665
16 years$4,652$3,938$3,318$2,785$2,329$1,418
17 years$4,333$3,626$3,019$2,502$2,065$1,211
18 years$4,049$3,351$2,756$2,255$1,836$1,036
19 years$3,796$3,106$2,523$2,037$1,637$888
20 years$3,569$2,886$2,316$1,845$1,462$762
21 years$3,363$2,688$2,130$1,675$1,308$655
22 years$3,176$2,509$1,963$1,523$1,173$564
23 years$3,006$2,347$1,813$1,387$1,053$486
24 years$2,850$2,199$1,676$1,265$946$419
25 years$2,707$2,063$1,553$1,155$851$361
26 years$2,575$1,939$1,440$1,056$767$312
27 years$2,453$1,825$1,337$967$691$269
28 years$2,340$1,720$1,243$886$624$233
29 years$2,235$1,622$1,157$812$563$201
30 years$2,137$1,532$1,077$745$509$174
31 years$2,046$1,448$1,004$685$460$150
32 years$1,961$1,371$937$629$416$130
33 years$1,880$1,298$875$579$377$113
34 years$1,805$1,230$818$532$341$97
35 years$1,734$1,167$764$490$309$84
36 years$1,668$1,107$715$451$280$73
37 years$1,605$1,052$669$416$254$63
38 years$1,545$1,000$627$383$230$55
39 years$1,489$951$587$353$209$47
40 years$1,436$904$550$326$189$41
41 years$1,385$861$516$301$172$36
42 years$1,337$820$484$278$156$31
43 years$1,291$781$454$256$141$27
44 years$1,248$745$426$237$128$23
45 years$1,206$710$400$218$116$20
46 years$1,167$677$376$202$106$17
47 years$1,129$646$353$186$96$15
48 years$1,093$617$332$172$87$13
49 years$1,058$589$312$159$79$11
50 years$1,025$563$293$147$72$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 76 starting with $1,050,000, adding $6,472 every year, while hoping to spend $44,067 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: 53/31/16 Blend
75$1,050,000$1,050,000$1,050,000$1,050,000
76$1,163,776$1,108,126$1,091,851$1,220,117
77$1,235,594$1,115,537$1,081,541$1,266,764
78$1,313,261$1,121,835$1,069,409$1,312,278
79$1,397,326$1,126,917$1,055,347$1,360,819
80$1,488,394$1,130,677$1,039,242$1,412,685
81$1,587,131$1,133,001$1,020,977$1,468,209
82$1,694,267$1,133,766$1,000,428$1,527,758
83$1,810,605$1,132,844$977,465$1,591,739
84$1,937,032$1,130,098$951,955$1,660,601
85$2,074,518$1,125,382$923,755$1,734,842
86$2,224,136$1,118,543$892,718$1,815,012
87$2,387,062$1,109,415$858,688$1,901,721
88$2,564,592$1,097,827$821,504$1,995,643
89$2,758,154$1,083,593$780,997$2,097,522
90$2,969,315$1,066,519$736,991$2,208,184
91$3,199,805$1,046,398$689,299$2,328,539
92$3,451,525$1,023,011$637,730$2,459,596
93$3,726,568$996,127$582,082$2,602,469
94$4,027,240$965,499$522,144$2,758,389
95$4,356,078$930,868$457,695$2,928,718
96$4,715,876$891,959$388,506$3,114,960
97$5,109,711$848,481$314,337$3,318,779
98$5,540,972$800,126$234,937$3,542,012
99$6,013,388$746,569$150,045$3,786,689
100$6,531,068$687,466$59,386$4,055,052