Can I retire at age 78 with 1,970,000?

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 $1,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$162,681$161,232$159,818$158,438$157,091$151,216
2 years$80,535$79,035$77,582$76,172$74,805$68,954
3 years$53,157$51,650$50,200$48,804$47,459$41,816
4 years$39,470$37,968$36,533$35,161$33,848$28,455
5 years$31,260$29,768$28,351$27,007$25,731$20,602
6 years$25,789$24,308$22,912$21,598$20,360$15,499
7 years$21,883$20,413$19,040$17,757$16,558$11,964
8 years$18,954$17,498$16,147$14,896$13,737$9,405
9 years$16,677$15,235$13,908$12,688$11,568$7,493
10 years$14,857$13,429$12,125$10,937$9,857$6,030
11 years$13,369$11,955$10,675$9,518$8,477$4,891
12 years$12,129$10,730$9,474$8,349$7,346$3,992
13 years$11,082$9,697$8,464$7,371$6,406$3,273
14 years$10,184$8,814$7,605$6,543$5,615$2,695
15 years$9,407$8,052$6,866$5,835$4,944$2,226
16 years$8,728$7,388$6,225$5,225$4,370$1,843
17 years$8,129$6,804$5,665$4,694$3,875$1,529
18 years$7,598$6,287$5,171$4,231$3,445$1,271
19 years$7,122$5,827$4,734$3,823$3,071$1,058
20 years$6,695$5,414$4,345$3,462$2,743$882
21 years$6,310$5,043$3,996$3,142$2,454$735
22 years$5,959$4,708$3,683$2,857$2,200$614
23 years$5,640$4,403$3,401$2,602$1,975$513
24 years$5,347$4,125$3,145$2,373$1,775$429
25 years$5,079$3,871$2,913$2,167$1,597$358
26 years$4,831$3,639$2,702$1,982$1,439$300
27 years$4,603$3,424$2,509$1,814$1,297$251
28 years$4,391$3,227$2,332$1,662$1,170$210
29 years$4,194$3,044$2,170$1,524$1,057$176
30 years$4,010$2,875$2,022$1,399$955$147
31 years$3,839$2,718$1,885$1,285$863$123
32 years$3,678$2,571$1,758$1,180$781$103
33 years$3,528$2,435$1,642$1,086$707$87
34 years$3,387$2,308$1,534$999$640$73
35 years$3,254$2,189$1,434$919$580$61
36 years$3,129$2,078$1,342$847$525$51
37 years$3,011$1,973$1,256$780$476$43
38 years$2,899$1,875$1,176$719$432$36
39 years$2,793$1,783$1,102$663$391$30
40 years$2,693$1,697$1,033$612$355$25
41 years$2,598$1,615$968$564$322$21
42 years$2,508$1,538$908$521$292$18
43 years$2,422$1,466$852$481$265$15
44 years$2,341$1,397$800$444$241$12
45 years$2,263$1,332$751$410$219$10
46 years$2,189$1,271$706$379$198$9
47 years$2,118$1,213$663$350$180$7
48 years$2,050$1,158$623$323$164$6
49 years$1,985$1,106$586$299$149$5
50 years$1,923$1,056$550$276$135$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 78 starting with $1,970,000, adding $5,819 every year, while hoping to spend $45,573 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: 57/15/28 Blend
77$1,970,000$1,970,000$1,970,000$1,970,000
78$2,176,942$2,072,532$2,041,997$2,284,001
79$2,350,501$2,125,597$2,061,915$2,411,214
80$2,540,235$2,179,735$2,080,972$2,544,541
81$2,747,747$2,234,949$2,099,093$2,688,937
82$2,974,800$2,291,244$2,116,195$2,845,487
83$3,223,336$2,348,622$2,132,194$3,015,386
84$3,495,493$2,407,081$2,146,999$3,199,951
85$3,793,627$2,466,622$2,160,517$3,400,635
86$4,120,331$2,527,240$2,172,648$3,619,037
87$4,478,460$2,588,930$2,183,288$3,856,921
88$4,871,162$2,651,686$2,192,326$4,116,229
89$5,301,899$2,715,498$2,199,648$4,399,103
90$5,774,489$2,780,354$2,205,133$4,707,904
91$6,293,135$2,846,239$2,208,653$5,045,233
92$6,862,467$2,913,137$2,210,074$5,413,956
93$7,487,584$2,981,026$2,209,258$5,817,235
94$8,174,106$3,049,885$2,206,056$6,258,551
95$8,928,220$3,119,685$2,200,315$6,741,745
96$9,756,746$3,190,396$2,191,872$7,271,046
97$10,667,193$3,261,985$2,180,559$7,851,119
98$11,667,837$3,334,412$2,166,198$8,487,104
99$12,767,793$3,407,635$2,148,602$9,184,666
100$13,977,104$3,481,606$2,127,577$9,950,050