Can I retire at age 80 with 1,340,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$110,656$109,670$108,709$107,770$106,853$105,738
2 years$54,780$53,760$52,771$51,813$50,883$49,759
3 years$36,157$35,133$34,146$33,197$32,282$31,185
4 years$26,848$25,826$24,850$23,916$23,024$21,963
5 years$21,263$20,248$19,285$18,370$17,502$16,480
6 years$17,542$16,534$15,585$14,691$13,849$12,866
7 years$14,885$13,885$12,951$12,078$11,263$10,320
8 years$12,893$11,902$10,983$10,132$9,344$8,441
9 years$11,344$10,363$9,460$8,630$7,869$7,006
10 years$10,106$9,135$8,248$7,439$6,705$5,881
11 years$9,093$8,132$7,261$6,474$5,766$4,982
12 years$8,250$7,299$6,444$5,679$4,997$4,250
13 years$7,538$6,596$5,757$5,014$4,357$3,648
14 years$6,927$5,996$5,173$4,451$3,820$3,146
15 years$6,399$5,477$4,670$3,969$3,363$2,724
16 years$5,937$5,025$4,234$3,554$2,972$2,367
17 years$5,529$4,628$3,853$3,193$2,635$2,063
18 years$5,168$4,276$3,517$2,878$2,343$1,803
19 years$4,845$3,963$3,220$2,600$2,089$1,578
20 years$4,554$3,683$2,955$2,355$1,866$1,385
21 years$4,292$3,430$2,718$2,137$1,670$1,217
22 years$4,053$3,202$2,505$1,943$1,496$1,071
23 years$3,836$2,995$2,313$1,770$1,343$943
24 years$3,637$2,806$2,139$1,614$1,207$832
25 years$3,455$2,633$1,981$1,474$1,086$734
26 years$3,286$2,475$1,838$1,348$979$649
27 years$3,131$2,329$1,706$1,234$882$573
28 years$2,987$2,195$1,586$1,130$796$507
29 years$2,853$2,071$1,476$1,037$719$449
30 years$2,728$1,955$1,375$951$650$398
31 years$2,611$1,849$1,282$874$587$352
32 years$2,502$1,749$1,196$803$531$312
33 years$2,400$1,656$1,117$738$481$277
34 years$2,304$1,570$1,043$679$435$245
35 years$2,213$1,489$976$625$394$218
36 years$2,128$1,413$913$576$357$193
37 years$2,048$1,342$854$531$324$171
38 years$1,972$1,276$800$489$294$152
39 years$1,900$1,213$749$451$266$135
40 years$1,832$1,154$702$416$241$120
41 years$1,767$1,099$659$384$219$107
42 years$1,706$1,046$618$354$199$95
43 years$1,648$997$580$327$180$84
44 years$1,592$950$544$302$164$75
45 years$1,539$906$511$279$149$66
46 years$1,489$864$480$258$135$59
47 years$1,441$825$451$238$123$52
48 years$1,394$788$424$220$111$46
49 years$1,350$752$398$203$101$41
50 years$1,308$718$374$188$92$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $1,340,000, adding $5,514 every year, while hoping to spend $45,333 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: 68/27/5 Blend
79$1,340,000$1,340,000$1,340,000$1,340,000
80$1,482,368$1,411,348$1,390,578$1,581,942
81$1,585,335$1,432,270$1,388,928$1,669,486
82$1,697,286$1,452,698$1,385,704$1,759,125
83$1,819,089$1,472,559$1,380,804$1,855,903
84$1,951,699$1,491,778$1,374,124$1,960,510
85$2,096,167$1,510,270$1,365,553$2,073,704
86$2,253,652$1,527,948$1,354,974$2,196,322
87$2,425,425$1,544,719$1,342,267$2,329,285
88$2,612,889$1,560,481$1,327,303$2,473,608
89$2,817,587$1,575,128$1,309,951$2,630,411
90$3,041,217$1,588,545$1,290,071$2,800,927
91$3,285,648$1,600,611$1,267,515$2,986,516
92$3,552,940$1,611,197$1,242,133$3,188,675
93$3,845,358$1,620,164$1,213,762$3,409,055
94$4,165,399$1,627,366$1,182,238$3,649,477
95$4,515,810$1,632,647$1,147,383$3,911,947
96$4,899,617$1,635,841$1,109,015$4,198,677
97$5,320,153$1,636,773$1,066,942$4,512,103
98$5,781,089$1,635,254$1,020,964$4,854,914
99$6,286,465$1,631,087$970,872$5,230,071
100$6,840,735$1,624,061$916,446$5,640,840