Can I retire at age 78 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$102,398$101,486$100,596$99,727$98,879$97,806
2 years$50,692$49,748$48,833$47,946$47,085$46,005
3 years$33,459$32,511$31,598$30,719$29,873$28,818
4 years$24,844$23,899$22,995$22,132$21,306$20,285
5 years$19,677$18,737$17,845$16,999$16,196$15,213
6 years$16,233$15,300$14,422$13,594$12,815$11,871
7 years$13,774$12,849$11,985$11,177$10,422$9,517
8 years$11,930$11,014$10,164$9,376$8,646$7,780
9 years$10,497$9,590$8,754$7,986$7,282$6,453
10 years$9,352$8,453$7,632$6,884$6,204$5,414
11 years$8,415$7,525$6,719$5,991$5,336$4,583
12 years$7,635$6,754$5,963$5,255$4,624$3,907
13 years$6,975$6,104$5,328$4,640$4,032$3,351
14 years$6,410$5,548$4,787$4,118$3,535$2,888
15 years$5,921$5,068$4,322$3,673$3,112$2,500
16 years$5,494$4,650$3,918$3,289$2,750$2,171
17 years$5,117$4,283$3,566$2,955$2,439$1,890
18 years$4,782$3,957$3,255$2,663$2,168$1,651
19 years$4,483$3,668$2,980$2,406$1,933$1,444
20 years$4,214$3,408$2,735$2,179$1,726$1,266
21 years$3,971$3,174$2,515$1,978$1,545$1,112
22 years$3,751$2,963$2,318$1,798$1,385$977
23 years$3,550$2,771$2,141$1,638$1,243$860
24 years$3,366$2,597$1,980$1,494$1,117$758
25 years$3,197$2,437$1,834$1,364$1,005$669
26 years$3,041$2,290$1,701$1,247$906$590
27 years$2,897$2,155$1,579$1,142$817$521
28 years$2,764$2,031$1,468$1,046$737$461
29 years$2,640$1,916$1,366$959$665$408
30 years$2,524$1,810$1,272$880$601$361
31 years$2,416$1,711$1,186$809$543$319
32 years$2,315$1,619$1,107$743$492$283
33 years$2,221$1,533$1,033$683$445$250
34 years$2,132$1,453$966$629$403$222
35 years$2,048$1,378$903$579$365$197
36 years$1,969$1,308$844$533$331$174
37 years$1,895$1,242$790$491$300$155
38 years$1,825$1,180$740$453$272$137
39 years$1,758$1,123$693$417$246$122
40 years$1,695$1,068$650$385$223$108
41 years$1,635$1,017$609$355$203$96
42 years$1,579$968$572$328$184$85
43 years$1,525$922$536$303$167$75
44 years$1,473$879$504$279$152$67
45 years$1,424$839$473$258$138$59
46 years$1,378$800$444$238$125$53
47 years$1,333$763$417$220$113$47
48 years$1,290$729$392$203$103$42
49 years$1,250$696$369$188$94$37
50 years$1,211$665$346$174$85$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 78 starting with $1,240,000, adding $4,511 every year, while hoping to spend $21,845 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: 55/29/16 Blend
77$1,240,000$1,240,000$1,240,000$1,240,000
78$1,371,133$1,305,413$1,286,193$1,440,496
79$1,487,746$1,346,135$1,306,038$1,528,956
80$1,615,521$1,388,121$1,325,815$1,622,498
81$1,755,574$1,431,409$1,345,499$1,723,865
82$1,909,133$1,476,038$1,365,064$1,833,808
83$2,077,552$1,522,051$1,384,481$1,953,156
84$2,262,320$1,569,490$1,403,720$2,082,820
85$2,465,080$1,618,399$1,422,748$2,223,802
86$2,687,640$1,668,822$1,441,531$2,377,208
87$2,931,991$1,720,806$1,460,034$2,544,251
88$3,200,327$1,774,399$1,478,219$2,726,272
89$3,495,066$1,829,650$1,496,045$2,924,742
90$3,818,870$1,886,610$1,513,469$3,141,284
91$4,174,672$1,945,331$1,530,448$3,377,685
92$4,565,704$2,005,867$1,546,933$3,635,911
93$4,995,525$2,068,274$1,562,875$3,918,130
94$5,468,058$2,132,609$1,578,220$4,226,726
95$5,987,623$2,198,930$1,592,914$4,564,328
96$6,558,982$2,267,298$1,606,897$4,933,830
97$7,187,378$2,337,776$1,620,109$5,338,420
98$7,878,592$2,410,428$1,632,483$5,781,609
99$8,638,989$2,485,320$1,643,952$6,267,265
100$9,475,585$2,562,520$1,654,444$6,799,649