Can I retire at age 79 with 1,160,000?

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 $1,160,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$95,792$94,938$94,106$93,293$92,500$91,956
2 years$47,422$46,538$45,683$44,853$44,048$43,498
3 years$31,300$30,413$29,560$28,738$27,946$27,409
4 years$23,241$22,357$21,512$20,704$19,931$19,410
5 years$18,407$17,528$16,694$15,902$15,151$14,648
6 years$15,185$14,313$13,491$12,717$11,989$11,504
7 years$12,885$12,020$11,211$10,456$9,750$9,284
8 years$11,161$10,303$9,508$8,771$8,089$7,642
9 years$9,820$8,971$8,189$7,471$6,812$6,383
10 years$8,748$7,908$7,140$6,440$5,804$5,394
11 years$7,872$7,040$6,286$5,605$4,992$4,600
12 years$7,142$6,318$5,578$4,916$4,326$3,952
13 years$6,525$5,710$4,984$4,340$3,772$3,416
14 years$5,997$5,190$4,478$3,853$3,307$2,967
15 years$5,539$4,741$4,043$3,436$2,911$2,588
16 years$5,139$4,350$3,666$3,077$2,573$2,266
17 years$4,787$4,006$3,336$2,764$2,281$1,990
18 years$4,474$3,702$3,045$2,491$2,029$1,753
19 years$4,194$3,431$2,788$2,251$1,808$1,547
20 years$3,942$3,188$2,558$2,039$1,615$1,368
21 years$3,715$2,970$2,353$1,850$1,445$1,212
22 years$3,509$2,772$2,169$1,682$1,295$1,075
23 years$3,321$2,593$2,002$1,532$1,163$955
24 years$3,149$2,429$1,852$1,397$1,045$849
25 years$2,991$2,280$1,715$1,276$941$756
26 years$2,845$2,143$1,591$1,167$847$674
27 years$2,710$2,016$1,477$1,068$764$601
28 years$2,585$1,900$1,373$979$689$536
29 years$2,469$1,792$1,278$897$622$479
30 years$2,361$1,693$1,190$824$562$428
31 years$2,260$1,600$1,110$756$508$382
32 years$2,166$1,514$1,035$695$460$342
33 years$2,077$1,434$967$639$416$306
34 years$1,994$1,359$903$588$377$274
35 years$1,916$1,289$844$541$341$245
36 years$1,842$1,223$790$499$309$220
37 years$1,773$1,162$739$459$280$197
38 years$1,707$1,104$692$423$254$176
39 years$1,645$1,050$649$390$230$158
40 years$1,586$999$608$360$209$142
41 years$1,530$951$570$332$190$127
42 years$1,477$906$535$307$172$114
43 years$1,426$863$502$283$156$102
44 years$1,378$823$471$261$142$91
45 years$1,332$784$442$241$129$82
46 years$1,289$748$415$223$117$74
47 years$1,247$714$390$206$106$66
48 years$1,207$682$367$190$96$59
49 years$1,169$651$345$176$87$53
50 years$1,133$622$324$163$79$48

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 79 starting with $1,160,000, adding $2,196 every year, while hoping to spend $48,995 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: 32/47/21 Blend
78$1,160,000$1,160,000$1,160,000$1,160,000
79$1,280,585$1,219,105$1,201,125$1,313,185
80$1,359,075$1,226,711$1,189,233$1,345,443
81$1,443,928$1,233,047$1,175,299$1,375,569
82$1,535,742$1,238,001$1,159,206$1,407,002
83$1,635,174$1,241,449$1,140,826$1,439,886
84$1,742,947$1,243,265$1,120,028$1,474,385
85$1,859,852$1,243,310$1,096,674$1,510,681
86$1,986,765$1,241,440$1,070,620$1,548,979
87$2,124,645$1,237,500$1,041,716$1,589,510
88$2,274,549$1,231,327$1,009,803$1,632,530
89$2,437,638$1,222,747$974,717$1,678,329
90$2,615,191$1,211,576$936,284$1,727,228
91$2,808,615$1,197,619$894,324$1,779,590
92$3,019,460$1,180,667$848,650$1,835,816
93$3,249,427$1,160,503$799,062$1,896,357
94$3,500,394$1,136,893$745,356$1,961,716
95$3,774,425$1,109,591$687,316$2,032,451
96$4,073,791$1,078,336$624,716$2,109,188
97$4,400,996$1,042,853$557,323$2,192,622
98$4,758,794$1,002,849$484,889$2,283,527
99$5,150,218$958,015$407,160$2,382,763
100$5,578,606$908,024$323,866$2,491,291