Can I retire at age 78 with 1,420,000?

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 $1,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$117,262$116,218$115,199$114,204$113,233$110,049
2 years$58,051$56,969$55,922$54,906$53,920$50,737
3 years$38,316$37,230$36,185$35,179$34,209$31,126
4 years$28,451$27,368$26,333$25,344$24,398$21,439
5 years$22,533$21,457$20,436$19,467$18,547$15,720
6 years$18,589$17,521$16,515$15,568$14,676$11,983
7 years$15,773$14,714$13,724$12,799$11,935$9,377
8 years$13,662$12,613$11,639$10,737$9,902$7,477
9 years$12,021$10,982$10,025$9,145$8,339$6,044
10 years$10,709$9,680$8,740$7,883$7,105$4,939
11 years$9,636$8,617$7,694$6,861$6,110$4,068
12 years$8,743$7,735$6,829$6,018$5,295$3,374
13 years$7,988$6,990$6,101$5,313$4,617$2,812
14 years$7,341$6,354$5,482$4,716$4,048$2,354
15 years$6,781$5,804$4,949$4,206$3,564$1,978
16 years$6,291$5,325$4,487$3,766$3,150$1,666
17 years$5,860$4,904$4,083$3,384$2,793$1,407
18 years$5,476$4,532$3,727$3,049$2,483$1,191
19 years$5,134$4,200$3,412$2,755$2,213$1,009
20 years$4,826$3,903$3,132$2,496$1,977$857
21 years$4,548$3,635$2,880$2,265$1,769$728
22 years$4,295$3,393$2,655$2,059$1,586$619
23 years$4,065$3,174$2,451$1,875$1,424$527
24 years$3,855$2,974$2,267$1,711$1,280$449
25 years$3,661$2,791$2,100$1,562$1,151$383
26 years$3,483$2,623$1,947$1,428$1,037$326
27 years$3,318$2,468$1,808$1,307$935$279
28 years$3,165$2,326$1,681$1,198$844$238
29 years$3,023$2,194$1,564$1,098$762$203
30 years$2,891$2,072$1,457$1,008$688$173
31 years$2,767$1,959$1,358$926$622$148
32 years$2,651$1,854$1,267$851$563$127
33 years$2,543$1,755$1,183$782$509$108
34 years$2,441$1,664$1,106$720$461$92
35 years$2,346$1,578$1,034$663$418$79
36 years$2,255$1,498$967$610$379$68
37 years$2,170$1,422$905$562$343$58
38 years$2,090$1,352$848$518$311$49
39 years$2,014$1,285$794$478$282$42
40 years$1,941$1,223$744$441$256$36
41 years$1,873$1,164$698$407$232$31
42 years$1,808$1,109$655$375$211$26
43 years$1,746$1,056$614$347$191$23
44 years$1,687$1,007$577$320$173$19
45 years$1,631$960$541$295$158$17
46 years$1,578$916$509$273$143$14
47 years$1,527$874$478$252$130$12
48 years$1,478$835$449$233$118$10
49 years$1,431$797$422$215$107$9
50 years$1,386$761$397$199$97$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 78 starting with $1,420,000, adding $6,489 every year, while hoping to spend $48,860 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: 63/30/7 Blend
77$1,420,000$1,420,000$1,420,000$1,420,000
78$1,571,533$1,496,273$1,474,263$1,668,041
79$1,679,843$1,517,604$1,471,665$1,754,532
80$1,797,563$1,538,343$1,467,341$1,842,607
81$1,925,601$1,558,408$1,461,184$1,937,505
82$2,064,956$1,577,714$1,453,077$2,039,885
83$2,216,729$1,596,169$1,442,903$2,150,472
84$2,382,128$1,613,674$1,430,533$2,270,067
85$2,562,486$1,630,125$1,415,837$2,399,552
86$2,759,268$1,645,410$1,398,675$2,539,899
87$2,974,087$1,659,409$1,378,905$2,692,180
88$3,208,719$1,671,995$1,356,373$2,857,577
89$3,465,119$1,683,032$1,330,922$3,037,393
90$3,745,438$1,692,378$1,302,385$3,233,065
91$4,052,046$1,699,878$1,270,588$3,446,179
92$4,387,553$1,705,370$1,235,351$3,678,479
93$4,754,830$1,708,680$1,196,482$3,931,894
94$5,157,042$1,709,625$1,153,783$4,208,548
95$5,597,672$1,708,008$1,107,046$4,510,781
96$6,080,556$1,703,622$1,056,054$4,841,178
97$6,609,920$1,696,246$1,000,579$5,202,585
98$7,190,417$1,685,648$940,384$5,598,144
99$7,827,173$1,671,578$875,220$6,031,316
100$8,525,833$1,653,774$804,828$6,505,920