Can I retire at age 80 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%11.5%
1 years$162,681$161,232$159,818$158,438$157,091$156,101
2 years$80,535$79,035$77,582$76,172$74,805$73,806
3 years$53,157$51,650$50,200$48,804$47,459$46,483
4 years$39,470$37,968$36,533$35,161$33,848$32,902
5 years$31,260$29,768$28,351$27,007$25,731$24,817
6 years$25,789$24,308$22,912$21,598$20,360$19,480
7 years$21,883$20,413$19,040$17,757$16,558$15,712
8 years$18,954$17,498$16,147$14,896$13,737$12,925
9 years$16,677$15,235$13,908$12,688$11,568$10,791
10 years$14,857$13,429$12,125$10,937$9,857$9,113
11 years$13,369$11,955$10,675$9,518$8,477$7,766
12 years$12,129$10,730$9,474$8,349$7,346$6,668
13 years$11,082$9,697$8,464$7,371$6,406$5,759
14 years$10,184$8,814$7,605$6,543$5,615$5,000
15 years$9,407$8,052$6,866$5,835$4,944$4,359
16 years$8,728$7,388$6,225$5,225$4,370$3,814
17 years$8,129$6,804$5,665$4,694$3,875$3,347
18 years$7,598$6,287$5,171$4,231$3,445$2,945
19 years$7,122$5,827$4,734$3,823$3,071$2,598
20 years$6,695$5,414$4,345$3,462$2,743$2,295
21 years$6,310$5,043$3,996$3,142$2,454$2,032
22 years$5,959$4,708$3,683$2,857$2,200$1,801
23 years$5,640$4,403$3,401$2,602$1,975$1,599
24 years$5,347$4,125$3,145$2,373$1,775$1,421
25 years$5,079$3,871$2,913$2,167$1,597$1,264
26 years$4,831$3,639$2,702$1,982$1,439$1,126
27 years$4,603$3,424$2,509$1,814$1,297$1,003
28 years$4,391$3,227$2,332$1,662$1,170$894
29 years$4,194$3,044$2,170$1,524$1,057$798
30 years$4,010$2,875$2,022$1,399$955$712
31 years$3,839$2,718$1,885$1,285$863$636
32 years$3,678$2,571$1,758$1,180$781$569
33 years$3,528$2,435$1,642$1,086$707$508
34 years$3,387$2,308$1,534$999$640$455
35 years$3,254$2,189$1,434$919$580$407
36 years$3,129$2,078$1,342$847$525$364
37 years$3,011$1,973$1,256$780$476$326
38 years$2,899$1,875$1,176$719$432$292
39 years$2,793$1,783$1,102$663$391$261
40 years$2,693$1,697$1,033$612$355$234
41 years$2,598$1,615$968$564$322$209
42 years$2,508$1,538$908$521$292$188
43 years$2,422$1,466$852$481$265$168
44 years$2,341$1,397$800$444$241$151
45 years$2,263$1,332$751$410$219$135
46 years$2,189$1,271$706$379$198$121
47 years$2,118$1,213$663$350$180$108
48 years$2,050$1,158$623$323$164$97
49 years$1,985$1,106$586$299$149$87
50 years$1,923$1,056$550$276$135$78

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $1,970,000, adding $6,357 every year, while hoping to spend $57,688 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: 60/12/28 Blend
79$1,970,000$1,970,000$1,970,000$1,970,000
80$2,177,497$2,073,087$2,042,552$2,291,294
81$2,338,222$2,113,289$2,049,598$2,409,859
82$2,513,408$2,153,527$2,054,947$2,532,453
83$2,704,468$2,193,742$2,058,480$2,665,019
84$2,912,959$2,233,871$2,060,074$2,808,544
85$3,140,595$2,273,844$2,059,600$2,964,113
86$3,389,260$2,313,587$2,056,922$3,132,925
87$3,661,031$2,353,020$2,051,895$3,316,302
88$3,958,194$2,392,056$2,044,372$3,515,701
89$4,283,266$2,430,602$2,034,194$3,732,729
90$4,639,017$2,468,560$2,021,197$3,969,158
91$5,028,498$2,505,821$2,005,209$4,226,943
92$5,455,070$2,542,271$1,986,049$4,508,238
93$5,922,433$2,577,788$1,963,527$4,815,419
94$6,434,662$2,612,240$1,937,446$5,151,109
95$6,996,245$2,645,487$1,907,597$5,518,196
96$7,612,124$2,677,378$1,873,764$5,919,867
97$8,287,744$2,707,753$1,835,719$6,359,637
98$9,029,101$2,736,441$1,793,223$6,841,379
99$9,842,802$2,763,259$1,746,028$7,369,367
100$10,736,121$2,788,011$1,693,873$7,948,311