Can I retire at age 78 with 1,960,000?

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 $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$161,855$160,413$159,007$157,634$156,293$155,569
2 years$80,126$78,634$77,188$75,785$74,425$73,695
3 years$52,887$51,388$49,946$48,556$47,218$46,504
4 years$39,270$37,776$36,348$34,982$33,677$32,983
5 years$31,102$29,617$28,207$26,870$25,600$24,930
6 years$25,658$24,184$22,796$21,488$20,257$19,611
7 years$21,771$20,310$18,943$17,666$16,474$15,853
8 years$18,858$17,409$16,065$14,820$13,667$13,070
9 years$16,593$15,158$13,837$12,623$11,510$10,937
10 years$14,782$13,361$12,064$10,881$9,807$9,259
11 years$13,301$11,894$10,621$9,470$8,434$7,910
12 years$12,068$10,676$9,425$8,307$7,309$6,808
13 years$11,025$9,648$8,421$7,333$6,373$5,896
14 years$10,132$8,770$7,566$6,510$5,587$5,132
15 years$9,359$8,011$6,831$5,806$4,919$4,486
16 years$8,684$7,350$6,194$5,198$4,348$3,935
17 years$8,088$6,769$5,636$4,671$3,855$3,463
18 years$7,559$6,255$5,145$4,209$3,428$3,056
19 years$7,086$5,797$4,710$3,803$3,055$2,703
20 years$6,661$5,387$4,323$3,445$2,729$2,395
21 years$6,278$5,018$3,976$3,126$2,442$2,127
22 years$5,929$4,684$3,664$2,842$2,189$1,891
23 years$5,611$4,381$3,383$2,589$1,965$1,684
24 years$5,320$4,104$3,129$2,361$1,766$1,501
25 years$5,053$3,852$2,898$2,156$1,589$1,339
26 years$4,807$3,620$2,688$1,972$1,431$1,196
27 years$4,579$3,407$2,496$1,805$1,291$1,069
28 years$4,368$3,210$2,320$1,653$1,165$956
29 years$4,172$3,029$2,159$1,516$1,052$856
30 years$3,990$2,860$2,011$1,392$950$767
31 years$3,819$2,704$1,875$1,278$859$687
32 years$3,660$2,558$1,749$1,174$777$616
33 years$3,510$2,423$1,633$1,080$703$553
34 years$3,370$2,296$1,526$994$637$496
35 years$3,237$2,178$1,427$915$577$445
36 years$3,113$2,067$1,335$843$522$399
37 years$2,995$1,963$1,249$776$474$359
38 years$2,884$1,866$1,170$715$429$322
39 years$2,779$1,774$1,096$660$389$289
40 years$2,680$1,688$1,027$608$353$260
41 years$2,585$1,607$963$561$320$234
42 years$2,495$1,530$904$518$291$210
43 years$2,410$1,458$848$478$264$189
44 years$2,329$1,390$796$442$239$170
45 years$2,251$1,325$747$408$217$153
46 years$2,178$1,264$702$377$197$137
47 years$2,107$1,207$660$348$179$124
48 years$2,040$1,152$620$322$163$111
49 years$1,975$1,100$583$297$148$100
50 years$1,914$1,051$548$275$134$90

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 78 starting with $1,960,000, adding $5,623 every year, while hoping to spend $20,519 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: 80/10/10 Blend
77$1,960,000$1,960,000$1,960,000$1,960,000
78$2,165,720$2,061,840$2,031,460$2,335,016
79$2,364,792$2,141,038$2,077,682$2,526,085
80$2,583,480$2,223,429$2,124,765$2,732,452
81$2,823,766$2,309,148$2,172,715$2,958,299
82$3,087,830$2,398,336$2,221,540$3,205,565
83$3,378,073$2,491,138$2,271,246$3,476,383
84$3,697,142$2,587,710$2,321,839$3,773,104
85$4,047,953$2,688,211$2,373,323$4,098,315
86$4,433,719$2,792,807$2,425,704$4,454,866
87$4,857,978$2,901,675$2,478,985$4,845,896
88$5,324,630$3,014,996$2,533,169$5,274,863
89$5,837,972$3,132,960$2,588,260$5,745,575
90$6,402,737$3,255,766$2,644,258$6,262,226
91$7,024,140$3,383,623$2,701,165$6,829,436
92$7,707,929$3,516,747$2,758,981$7,452,294
93$8,460,436$3,655,365$2,817,704$8,136,406
94$9,288,636$3,799,714$2,877,333$8,887,947
95$10,200,217$3,950,041$2,937,864$9,713,721
96$11,203,650$4,106,604$2,999,294$10,621,221
97$12,308,269$4,269,673$3,061,616$11,618,705
98$13,524,356$4,439,531$3,124,824$12,715,266
99$14,863,245$4,616,473$3,188,910$13,920,926
100$16,337,421$4,800,806$3,253,864$15,246,725