Can I retire at age 79 with 1,980,000?

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$163,507$162,050$160,629$159,242$157,888$154,385
2 years$80,944$79,436$77,975$76,559$75,185$71,674
3 years$53,427$51,913$50,455$49,052$47,700$44,291
4 years$39,671$38,161$36,718$35,339$34,020$30,739
5 years$31,419$29,919$28,495$27,144$25,862$22,717
6 years$25,920$24,431$23,028$21,707$20,463$17,459
7 years$21,994$20,517$19,137$17,847$16,642$13,779
8 years$19,050$17,587$16,229$14,971$13,806$11,083
9 years$16,762$15,313$13,978$12,752$11,627$9,042
10 years$14,932$13,497$12,187$10,992$9,907$7,457
11 years$13,437$12,016$10,729$9,567$8,520$6,202
12 years$12,191$10,785$9,522$8,391$7,383$5,193
13 years$11,138$9,746$8,507$7,408$6,438$4,373
14 years$10,236$8,859$7,644$6,576$5,644$3,699
15 years$9,455$8,093$6,901$5,865$4,969$3,140
16 years$8,772$7,425$6,257$5,251$4,392$2,674
17 years$8,170$6,838$5,693$4,718$3,894$2,283
18 years$7,636$6,319$5,197$4,252$3,463$1,953
19 years$7,159$5,856$4,758$3,842$3,086$1,674
20 years$6,729$5,442$4,367$3,480$2,757$1,437
21 years$6,342$5,069$4,016$3,158$2,467$1,235
22 years$5,989$4,732$3,702$2,871$2,211$1,063
23 years$5,668$4,425$3,418$2,615$1,985$916
24 years$5,375$4,146$3,161$2,385$1,784$790
25 years$5,105$3,891$2,928$2,178$1,605$681
26 years$4,856$3,657$2,715$1,992$1,446$588
27 years$4,626$3,442$2,521$1,823$1,304$508
28 years$4,413$3,243$2,344$1,670$1,176$439
29 years$4,215$3,059$2,181$1,532$1,062$379
30 years$4,030$2,889$2,032$1,406$960$328
31 years$3,858$2,731$1,894$1,291$868$284
32 years$3,697$2,584$1,767$1,186$785$245
33 years$3,546$2,448$1,650$1,091$710$212
34 years$3,404$2,320$1,542$1,004$643$184
35 years$3,270$2,200$1,441$924$583$159
36 years$3,145$2,088$1,348$851$528$138
37 years$3,026$1,983$1,262$784$478$119
38 years$2,914$1,885$1,182$723$434$103
39 years$2,808$1,792$1,107$666$393$89
40 years$2,707$1,705$1,038$615$357$78
41 years$2,612$1,623$973$567$324$67
42 years$2,521$1,546$913$523$294$58
43 years$2,435$1,473$857$483$267$50
44 years$2,353$1,404$804$446$242$44
45 years$2,274$1,339$755$412$220$38
46 years$2,200$1,277$709$381$199$33
47 years$2,129$1,219$666$352$181$28
48 years$2,060$1,164$626$325$164$25
49 years$1,995$1,111$588$300$149$21
50 years$1,933$1,061$553$278$136$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 79 starting with $1,980,000, adding $2,618 every year, while hoping to spend $22,204 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: 42/43/15 Blend
78$1,980,000$1,980,000$1,980,000$1,980,000
79$2,184,660$2,079,720$2,049,030$2,266,713
80$2,383,871$2,158,002$2,094,048$2,403,019
81$2,602,657$2,239,375$2,139,830$2,548,135
82$2,842,991$2,323,968$2,186,377$2,704,798
83$3,107,048$2,411,914$2,233,692$2,874,073
84$3,397,221$2,503,352$2,281,776$3,057,133
85$3,716,150$2,598,429$2,330,628$3,255,263
86$4,066,741$2,697,295$2,380,247$3,469,878
87$4,452,195$2,800,109$2,430,632$3,702,531
88$4,876,041$2,907,037$2,481,780$3,954,929
89$5,342,166$3,018,250$2,533,689$4,228,948
90$5,854,852$3,133,929$2,586,352$4,526,651
91$6,418,816$3,254,261$2,639,765$4,850,305
92$7,039,259$3,379,443$2,693,920$5,202,404
93$7,721,907$3,509,680$2,748,810$5,585,690
94$8,473,071$3,645,184$2,804,425$6,003,179
95$9,299,705$3,786,179$2,860,754$6,458,189
96$10,209,471$3,932,897$2,917,785$6,954,368
97$11,210,810$4,085,583$2,975,504$7,495,732
98$12,313,026$4,244,489$3,033,896$8,086,699
99$13,526,367$4,409,881$3,092,944$8,732,128
100$14,862,127$4,582,036$3,152,628$9,437,370