Can I retire at age 80 with 2,040,000?

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$168,461$166,961$165,497$164,068$162,672$158,035
2 years$83,397$81,843$80,338$78,879$77,463$72,827
3 years$55,046$53,486$51,984$50,538$49,146$44,657
4 years$40,873$39,318$37,831$36,410$35,051$30,743
5 years$32,371$30,825$29,359$27,966$26,645$22,530
6 years$26,705$25,171$23,726$22,365$21,084$17,165
7 years$22,660$21,139$19,716$18,387$17,147$13,425
8 years$19,627$18,120$16,721$15,425$14,225$10,697
9 years$17,270$15,777$14,402$13,138$11,979$8,643
10 years$15,385$13,906$12,556$11,326$10,207$7,057
11 years$13,844$12,380$11,054$9,857$8,778$5,810
12 years$12,560$11,112$9,810$8,646$7,607$4,815
13 years$11,475$10,042$8,765$7,633$6,634$4,011
14 years$10,546$9,128$7,875$6,775$5,815$3,355
15 years$9,741$8,338$7,110$6,043$5,120$2,817
16 years$9,038$7,650$6,446$5,410$4,525$2,371
17 years$8,418$7,045$5,866$4,861$4,012$2,001
18 years$7,867$6,510$5,355$4,381$3,567$1,692
19 years$7,376$6,034$4,902$3,959$3,180$1,433
20 years$6,933$5,607$4,499$3,585$2,840$1,215
21 years$6,534$5,223$4,138$3,254$2,542$1,032
22 years$6,171$4,875$3,814$2,958$2,278$877
23 years$5,840$4,560$3,522$2,694$2,045$746
24 years$5,538$4,272$3,257$2,457$1,838$635
25 years$5,259$4,009$3,016$2,244$1,654$541
26 years$5,003$3,768$2,798$2,052$1,490$461
27 years$4,766$3,546$2,598$1,878$1,343$393
28 years$4,547$3,341$2,415$1,721$1,212$335
29 years$4,343$3,152$2,247$1,578$1,094$286
30 years$4,153$2,977$2,093$1,448$989$244
31 years$3,975$2,814$1,952$1,330$894$208
32 years$3,809$2,663$1,821$1,222$809$178
33 years$3,653$2,522$1,700$1,124$732$152
34 years$3,507$2,390$1,589$1,034$663$130
35 years$3,370$2,267$1,485$952$600$111
36 years$3,240$2,152$1,389$877$544$95
37 years$3,118$2,044$1,300$808$493$81
38 years$3,002$1,942$1,218$745$447$69
39 years$2,893$1,847$1,141$687$405$59
40 years$2,789$1,757$1,069$633$368$50
41 years$2,691$1,673$1,003$584$333$43
42 years$2,597$1,593$941$539$303$37
43 years$2,508$1,518$883$498$275$31
44 years$2,424$1,447$828$460$249$27
45 years$2,343$1,380$778$424$226$23
46 years$2,266$1,316$731$392$205$20
47 years$2,193$1,256$686$362$187$17
48 years$2,123$1,199$645$335$169$14
49 years$2,056$1,145$606$309$154$12
50 years$1,992$1,094$570$286$140$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $2,040,000, adding $2,195 every year, while hoping to spend $54,246 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: 62/30/8 Blend
79$2,040,000$2,040,000$2,040,000$2,040,000
80$2,250,344$2,142,224$2,110,604$2,386,005
81$2,422,162$2,189,476$2,123,592$2,524,178
82$2,609,687$2,237,225$2,135,197$2,668,435
83$2,814,464$2,285,438$2,145,315$2,824,508
84$3,038,194$2,334,079$2,153,838$2,993,537
85$3,282,750$2,383,108$2,160,651$3,176,781
86$3,550,191$2,432,482$2,165,634$3,375,623
87$3,842,789$2,482,152$2,168,661$3,591,590
88$4,163,042$2,532,065$2,169,599$3,826,361
89$4,513,701$2,582,166$2,168,310$4,081,788
90$4,897,798$2,632,391$2,164,648$4,359,909
91$5,318,669$2,682,674$2,158,459$4,662,971
92$5,779,990$2,732,941$2,149,584$4,993,449
93$6,285,808$2,783,115$2,137,854$5,354,070
94$6,840,581$2,833,109$2,123,094$5,747,839
95$7,449,221$2,882,831$2,105,118$6,178,067
96$8,117,136$2,932,184$2,083,733$6,648,403
97$8,850,282$2,981,060$2,058,737$7,162,866
98$9,655,224$3,029,344$2,029,917$7,725,887
99$10,539,189$3,076,914$1,997,052$8,342,348
100$11,510,141$3,123,638$1,959,908$9,017,631