Can I retire at age 77 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$92,489$91,665$90,861$90,076$89,310$88,304
2 years$45,786$44,934$44,107$43,306$42,529$41,516
3 years$30,221$29,365$28,540$27,747$26,982$25,994
4 years$22,440$21,586$20,770$19,990$19,244$18,288
5 years$17,772$16,924$16,118$15,354$14,629$13,708
6 years$14,662$13,820$13,026$12,279$11,575$10,691
7 years$12,441$11,606$10,825$10,095$9,414$8,566
8 years$10,776$9,948$9,180$8,469$7,810$6,998
9 years$9,482$8,662$7,907$7,213$6,577$5,802
10 years$8,447$7,635$6,893$6,218$5,604$4,864
11 years$7,601$6,797$6,069$5,411$4,819$4,115
12 years$6,896$6,100$5,386$4,747$4,176$3,506
13 years$6,300$5,513$4,812$4,191$3,642$3,005
14 years$5,790$5,011$4,324$3,720$3,193$2,588
15 years$5,348$4,578$3,904$3,317$2,811$2,239
16 years$4,962$4,200$3,539$2,970$2,484$1,943
17 years$4,622$3,868$3,221$2,669$2,203$1,691
18 years$4,319$3,574$2,940$2,405$1,959$1,475
19 years$4,049$3,313$2,691$2,173$1,746$1,290
20 years$3,807$3,078$2,470$1,968$1,559$1,130
21 years$3,587$2,867$2,272$1,786$1,395$991
22 years$3,388$2,677$2,094$1,624$1,251$871
23 years$3,206$2,503$1,933$1,479$1,123$766
24 years$3,040$2,345$1,788$1,349$1,009$674
25 years$2,888$2,201$1,656$1,232$908$594
26 years$2,747$2,069$1,536$1,127$818$524
27 years$2,617$1,947$1,426$1,031$737$463
28 years$2,496$1,834$1,326$945$665$409
29 years$2,384$1,731$1,234$866$601$361
30 years$2,280$1,634$1,149$795$543$319
31 years$2,182$1,545$1,071$730$491$282
32 years$2,091$1,462$1,000$671$444$250
33 years$2,006$1,384$933$617$402$221
34 years$1,925$1,312$872$568$364$196
35 years$1,850$1,245$815$523$330$173
36 years$1,779$1,181$763$481$299$154
37 years$1,712$1,122$714$444$271$136
38 years$1,648$1,066$669$409$245$121
39 years$1,588$1,014$626$377$222$107
40 years$1,531$965$587$348$202$95
41 years$1,477$918$551$321$183$84
42 years$1,426$874$516$296$166$74
43 years$1,377$833$485$273$151$66
44 years$1,331$794$455$252$137$59
45 years$1,286$757$427$233$124$52
46 years$1,244$723$401$215$113$46
47 years$1,204$689$377$199$102$41
48 years$1,166$658$354$184$93$36
49 years$1,129$629$333$170$84$32
50 years$1,094$600$313$157$77$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 77 starting with $1,120,000, adding $4,029 every year, while hoping to spend $30,871 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: 71/12/17 Blend
76$1,120,000$1,120,000$1,120,000$1,120,000
77$1,238,396$1,179,036$1,161,676$1,321,114
78$1,331,866$1,203,962$1,167,746$1,401,559
79$1,433,835$1,229,075$1,172,984$1,485,510
80$1,545,138$1,254,351$1,177,330$1,576,631
81$1,666,692$1,279,765$1,180,722$1,675,625
82$1,799,510$1,305,289$1,183,091$1,783,269
83$1,944,704$1,330,892$1,184,368$1,900,417
84$2,103,499$1,356,541$1,184,480$2,028,012
85$2,277,246$1,382,201$1,183,350$2,167,091
86$2,467,429$1,407,833$1,180,896$2,318,797
87$2,675,684$1,433,394$1,177,033$2,484,391
88$2,903,814$1,458,841$1,171,674$2,665,260
89$3,153,802$1,484,123$1,164,724$2,862,936
90$3,427,833$1,509,189$1,156,086$3,079,104
91$3,728,315$1,533,981$1,145,658$3,315,621
92$4,057,897$1,558,441$1,133,331$3,574,536
93$4,419,500$1,582,501$1,118,995$3,858,105
94$4,816,338$1,606,093$1,102,530$4,168,815
95$5,251,954$1,629,141$1,083,815$4,509,406
96$5,730,250$1,651,566$1,062,720$4,882,898
97$6,255,525$1,673,282$1,039,110$5,292,620
98$6,832,512$1,694,196$1,012,843$5,742,241
99$7,466,428$1,714,211$983,773$6,235,803
100$8,163,018$1,733,223$951,745$6,777,762