Can I retire at age 80 with 2,340,000?

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$193,235$191,514$189,834$188,195$186,595$185,109
2 years$95,661$93,879$92,153$90,479$88,855$87,357
3 years$63,140$61,351$59,629$57,970$56,373$54,910
4 years$46,883$45,100$43,395$41,764$40,206$38,788
5 years$37,132$35,359$33,676$32,079$30,564$29,196
6 years$30,633$28,873$27,215$25,654$24,184$22,868
7 years$25,992$24,247$22,616$21,092$19,668$18,404
8 years$22,514$20,785$19,180$17,693$16,317$15,105
9 years$19,810$18,097$16,520$15,071$13,741$12,581
10 years$17,647$15,951$14,402$12,991$11,708$10,599
11 years$15,880$14,201$12,680$11,306$10,069$9,011
12 years$14,408$12,746$11,253$9,917$8,726$7,717
13 years$13,163$11,518$10,054$8,755$7,609$6,649
14 years$12,097$10,470$9,033$7,772$6,670$5,757
15 years$11,174$9,564$8,156$6,931$5,873$5,006
16 years$10,367$8,775$7,394$6,206$5,190$4,368
17 years$9,656$8,082$6,729$5,576$4,602$3,823
18 years$9,024$7,468$6,142$5,025$4,092$3,354
19 years$8,460$6,921$5,623$4,541$3,647$2,950
20 years$7,953$6,431$5,161$4,112$3,258$2,599
21 years$7,495$5,991$4,747$3,732$2,915$2,294
22 years$7,078$5,592$4,375$3,394$2,613$2,027
23 years$6,699$5,230$4,039$3,091$2,346$1,794
24 years$6,352$4,900$3,736$2,819$2,108$1,590
25 years$6,033$4,599$3,460$2,574$1,897$1,410
26 years$5,739$4,322$3,209$2,354$1,709$1,251
27 years$5,467$4,067$2,980$2,154$1,541$1,112
28 years$5,215$3,833$2,770$1,974$1,390$988
29 years$4,981$3,616$2,578$1,810$1,255$879
30 years$4,763$3,415$2,401$1,661$1,134$782
31 years$4,560$3,228$2,239$1,526$1,026$696
32 years$4,369$3,054$2,089$1,402$928$620
33 years$4,191$2,893$1,950$1,289$840$553
34 years$4,023$2,741$1,822$1,186$760$492
35 years$3,865$2,600$1,704$1,092$688$439
36 years$3,716$2,468$1,594$1,006$624$392
37 years$3,576$2,344$1,492$927$565$349
38 years$3,444$2,228$1,397$854$513$312
39 years$3,318$2,118$1,309$788$465$278
40 years$3,199$2,015$1,227$726$422$248
41 years$3,086$1,918$1,150$670$382$221
42 years$2,979$1,827$1,079$619$347$198
43 years$2,877$1,741$1,012$571$315$177
44 years$2,780$1,659$950$527$286$158
45 years$2,688$1,582$892$487$260$141
46 years$2,600$1,510$838$450$236$126
47 years$2,516$1,441$787$416$214$112
48 years$2,435$1,375$740$384$194$100
49 years$2,358$1,313$695$355$177$90
50 years$2,285$1,254$654$328$160$80

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $2,340,000, adding $4,478 every year, while hoping to spend $33,192 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: 30/47/23 Blend
79$2,340,000$2,340,000$2,340,000$2,340,000
80$2,583,299$2,459,279$2,423,009$2,642,215
81$2,811,480$2,544,468$2,468,864$2,773,001
82$3,061,822$2,632,718$2,515,142$2,910,344
83$3,336,552$2,724,145$2,561,824$3,057,412
84$3,638,120$2,818,869$2,608,885$3,215,072
85$3,969,228$2,917,013$2,656,302$3,384,270
86$4,332,850$3,018,707$2,704,048$3,566,048
87$4,732,261$3,124,084$2,752,095$3,761,549
88$5,171,073$3,233,285$2,800,411$3,972,026
89$5,653,261$3,346,455$2,848,964$4,198,860
90$6,183,207$3,463,745$2,897,717$4,443,564
91$6,765,736$3,585,310$2,946,633$4,707,801
92$7,406,167$3,711,316$2,995,671$4,993,402
93$8,110,357$3,841,931$3,044,787$5,302,375
94$8,884,760$3,977,333$3,093,934$5,636,931
95$9,736,487$4,117,704$3,143,062$5,999,500
96$10,673,374$4,263,236$3,192,119$6,392,752
97$11,704,051$4,414,128$3,241,048$6,819,628
98$12,838,030$4,570,586$3,289,789$7,283,358
99$14,085,790$4,732,826$3,338,279$7,787,498
100$15,458,878$4,901,071$3,386,448$8,335,960