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%13%
1 years$168,461$166,961$165,497$164,068$162,672$160,640
2 years$83,397$81,843$80,338$78,879$77,463$75,418
3 years$55,046$53,486$51,984$50,538$49,146$47,151
4 years$40,873$39,318$37,831$36,410$35,051$33,123
5 years$32,371$30,825$29,359$27,966$26,645$24,789
6 years$26,705$25,171$23,726$22,365$21,084$19,301
7 years$22,660$21,139$19,716$18,387$17,147$15,439
8 years$19,627$18,120$16,721$15,425$14,225$12,592
9 years$17,270$15,777$14,402$13,138$11,979$10,421
10 years$15,385$13,906$12,556$11,326$10,207$8,721
11 years$13,844$12,380$11,054$9,857$8,778$7,364
12 years$12,560$11,112$9,810$8,646$7,607$6,263
13 years$11,475$10,042$8,765$7,633$6,634$5,357
14 years$10,546$9,128$7,875$6,775$5,815$4,605
15 years$9,741$8,338$7,110$6,043$5,120$3,975
16 years$9,038$7,650$6,446$5,410$4,525$3,442
17 years$8,418$7,045$5,866$4,861$4,012$2,989
18 years$7,867$6,510$5,355$4,381$3,567$2,603
19 years$7,376$6,034$4,902$3,959$3,180$2,271
20 years$6,933$5,607$4,499$3,585$2,840$1,985
21 years$6,534$5,223$4,138$3,254$2,542$1,737
22 years$6,171$4,875$3,814$2,958$2,278$1,523
23 years$5,840$4,560$3,522$2,694$2,045$1,336
24 years$5,538$4,272$3,257$2,457$1,838$1,174
25 years$5,259$4,009$3,016$2,244$1,654$1,032
26 years$5,003$3,768$2,798$2,052$1,490$908
27 years$4,766$3,546$2,598$1,878$1,343$800
28 years$4,547$3,341$2,415$1,721$1,212$705
29 years$4,343$3,152$2,247$1,578$1,094$621
30 years$4,153$2,977$2,093$1,448$989$548
31 years$3,975$2,814$1,952$1,330$894$483
32 years$3,809$2,663$1,821$1,222$809$427
33 years$3,653$2,522$1,700$1,124$732$377
34 years$3,507$2,390$1,589$1,034$663$333
35 years$3,370$2,267$1,485$952$600$294
36 years$3,240$2,152$1,389$877$544$260
37 years$3,118$2,044$1,300$808$493$229
38 years$3,002$1,942$1,218$745$447$203
39 years$2,893$1,847$1,141$687$405$179
40 years$2,789$1,757$1,069$633$368$158
41 years$2,691$1,673$1,003$584$333$140
42 years$2,597$1,593$941$539$303$124
43 years$2,508$1,518$883$498$275$110
44 years$2,424$1,447$828$460$249$97
45 years$2,343$1,380$778$424$226$86
46 years$2,266$1,316$731$392$205$76
47 years$2,193$1,256$686$362$187$67
48 years$2,123$1,199$645$335$169$59
49 years$2,056$1,145$606$309$154$52
50 years$1,992$1,094$570$286$140$46

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 $6,089 every year, while hoping to spend $34,462 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: 44/38/18 Blend
79$2,040,000$2,040,000$2,040,000$2,040,000
80$2,254,361$2,146,241$2,114,621$2,341,575
81$2,447,638$2,214,739$2,148,793$2,471,940
82$2,659,475$2,285,439$2,182,956$2,609,273
83$2,891,728$2,358,412$2,217,071$2,757,405
84$3,146,441$2,433,732$2,251,100$2,917,351
85$3,425,868$2,511,474$2,285,002$3,090,224
86$3,732,489$2,591,718$2,318,731$3,277,251
87$4,069,036$2,674,546$2,352,242$3,479,780
88$4,438,520$2,760,041$2,385,484$3,699,296
89$4,844,256$2,848,290$2,418,405$3,937,431
90$5,289,897$2,939,383$2,450,948$4,195,982
91$5,779,466$3,033,412$2,483,055$4,476,926
92$6,317,396$3,130,475$2,514,662$4,782,438
93$6,908,571$3,230,668$2,545,704$5,114,913
94$7,558,370$3,334,095$2,576,109$5,476,988
95$8,272,719$3,440,862$2,605,805$5,871,566
96$9,058,150$3,551,077$2,634,712$6,301,841
97$9,921,854$3,664,853$2,662,749$6,771,331
98$10,871,760$3,782,308$2,689,827$7,283,910
99$11,916,599$3,903,560$2,715,856$7,843,844
100$13,065,994$4,028,736$2,740,738$8,455,829