Can I retire at age 79 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%12.8%
1 years$117,262$116,218$115,199$114,204$113,233$111,911
2 years$58,051$56,969$55,922$54,906$53,920$52,590
3 years$38,316$37,230$36,185$35,179$34,209$32,911
4 years$28,451$27,368$26,333$25,344$24,398$23,143
5 years$22,533$21,457$20,436$19,467$18,547$17,338
6 years$18,589$17,521$16,515$15,568$14,676$13,515
7 years$15,773$14,714$13,724$12,799$11,935$10,822
8 years$13,662$12,613$11,639$10,737$9,902$8,837
9 years$12,021$10,982$10,025$9,145$8,339$7,321
10 years$10,709$9,680$8,740$7,883$7,105$6,135
11 years$9,636$8,617$7,694$6,861$6,110$5,187
12 years$8,743$7,735$6,829$6,018$5,295$4,417
13 years$7,988$6,990$6,101$5,313$4,617$3,783
14 years$7,341$6,354$5,482$4,716$4,048$3,256
15 years$6,781$5,804$4,949$4,206$3,564$2,814
16 years$6,291$5,325$4,487$3,766$3,150$2,440
17 years$5,860$4,904$4,083$3,384$2,793$2,122
18 years$5,476$4,532$3,727$3,049$2,483$1,850
19 years$5,134$4,200$3,412$2,755$2,213$1,617
20 years$4,826$3,903$3,132$2,496$1,977$1,415
21 years$4,548$3,635$2,880$2,265$1,769$1,241
22 years$4,295$3,393$2,655$2,059$1,586$1,089
23 years$4,065$3,174$2,451$1,875$1,424$957
24 years$3,855$2,974$2,267$1,711$1,280$842
25 years$3,661$2,791$2,100$1,562$1,151$742
26 years$3,483$2,623$1,947$1,428$1,037$654
27 years$3,318$2,468$1,808$1,307$935$577
28 years$3,165$2,326$1,681$1,198$844$509
29 years$3,023$2,194$1,564$1,098$762$449
30 years$2,891$2,072$1,457$1,008$688$397
31 years$2,767$1,959$1,358$926$622$351
32 years$2,651$1,854$1,267$851$563$310
33 years$2,543$1,755$1,183$782$509$274
34 years$2,441$1,664$1,106$720$461$243
35 years$2,346$1,578$1,034$663$418$215
36 years$2,255$1,498$967$610$379$190
37 years$2,170$1,422$905$562$343$168
38 years$2,090$1,352$848$518$311$149
39 years$2,014$1,285$794$478$282$132
40 years$1,941$1,223$744$441$256$117
41 years$1,873$1,164$698$407$232$103
42 years$1,808$1,109$655$375$211$92
43 years$1,746$1,056$614$347$191$81
44 years$1,687$1,007$577$320$173$72
45 years$1,631$960$541$295$158$64
46 years$1,578$916$509$273$143$56
47 years$1,527$874$478$252$130$50
48 years$1,478$835$449$233$118$44
49 years$1,431$797$422$215$107$39
50 years$1,386$761$397$199$97$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 79 starting with $1,420,000, adding $4,235 every year, while hoping to spend $43,443 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: 57/33/10 Blend
78$1,420,000$1,420,000$1,420,000$1,420,000
79$1,569,208$1,493,948$1,471,938$1,654,628
80$1,683,045$1,520,929$1,475,025$1,739,721
81$1,807,036$1,547,775$1,476,760$1,827,191
82$1,942,173$1,574,435$1,477,050$1,921,451
83$2,089,544$1,600,853$1,475,801$2,023,157
84$2,250,350$1,626,966$1,472,912$2,133,031
85$2,425,909$1,652,711$1,468,279$2,251,868
86$2,617,675$1,678,017$1,461,789$2,380,545
87$2,827,247$1,702,810$1,453,329$2,520,030
88$3,056,387$1,727,008$1,442,775$2,671,389
89$3,307,033$1,750,525$1,430,003$2,835,795
90$3,581,320$1,773,271$1,414,877$3,014,546
91$3,881,598$1,795,145$1,397,260$3,209,068
92$4,210,457$1,816,043$1,377,004$3,420,938
93$4,570,748$1,835,853$1,353,957$3,651,890
94$4,965,608$1,854,454$1,327,959$3,903,840
95$5,398,497$1,871,719$1,298,843$4,178,896
96$5,873,222$1,887,512$1,266,432$4,479,388
97$6,393,978$1,901,686$1,230,545$4,807,879
98$6,965,383$1,914,089$1,190,988$5,167,198
99$7,592,528$1,924,555$1,147,561$5,560,465
100$8,281,016$1,932,908$1,100,055$5,991,118