Can I retire at age 80 with 2,370,000?

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 $2,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$195,712$193,969$192,268$190,608$188,987$187,325
2 years$96,887$95,083$93,334$91,639$89,994$88,319
3 years$63,950$62,138$60,393$58,714$57,096$55,460
4 years$47,484$45,678$43,951$42,300$40,721$39,138
5 years$37,608$35,812$34,108$32,490$30,956$29,428
6 years$31,025$29,243$27,564$25,983$24,494$23,025
7 years$26,326$24,558$22,906$21,362$19,920$18,510
8 years$22,802$21,051$19,426$17,920$16,526$15,175
9 years$20,064$18,329$16,732$15,264$13,917$12,624
10 years$17,874$16,156$14,587$13,158$11,858$10,623
11 years$16,083$14,383$12,842$11,451$10,198$9,020
12 years$14,592$12,909$11,397$10,044$8,838$7,715
13 years$13,332$11,666$10,183$8,867$7,707$6,638
14 years$12,252$10,604$9,149$7,872$6,756$5,740
15 years$11,317$9,687$8,260$7,020$5,948$4,985
16 years$10,500$8,888$7,489$6,286$5,257$4,343
17 years$9,780$8,185$6,815$5,648$4,661$3,796
18 years$9,140$7,564$6,221$5,090$4,145$3,326
19 years$8,569$7,010$5,695$4,599$3,694$2,921
20 years$8,055$6,514$5,227$4,165$3,300$2,570
21 years$7,591$6,067$4,808$3,780$2,953$2,265
22 years$7,169$5,664$4,431$3,437$2,647$1,999
23 years$6,785$5,297$4,091$3,130$2,376$1,766
24 years$6,433$4,963$3,784$2,855$2,136$1,562
25 years$6,110$4,658$3,504$2,607$1,922$1,383
26 years$5,813$4,377$3,250$2,384$1,731$1,226
27 years$5,537$4,120$3,018$2,182$1,561$1,087
28 years$5,282$3,882$2,806$1,999$1,408$965
29 years$5,045$3,662$2,611$1,833$1,272$857
30 years$4,824$3,458$2,432$1,683$1,149$761
31 years$4,618$3,269$2,267$1,545$1,039$677
32 years$4,425$3,094$2,115$1,420$940$602
33 years$4,244$2,930$1,975$1,306$850$535
34 years$4,074$2,777$1,845$1,202$770$476
35 years$3,915$2,634$1,725$1,106$697$424
36 years$3,764$2,500$1,614$1,019$632$377
37 years$3,622$2,374$1,511$939$573$336
38 years$3,488$2,256$1,415$865$519$299
39 years$3,361$2,145$1,325$798$471$267
40 years$3,240$2,041$1,242$736$427$238
41 years$3,126$1,943$1,165$679$387$212
42 years$3,017$1,851$1,093$626$352$189
43 years$2,914$1,763$1,025$578$319$168
44 years$2,816$1,681$963$534$290$150
45 years$2,722$1,603$904$493$263$134
46 years$2,633$1,529$849$456$239$119
47 years$2,548$1,459$797$421$217$106
48 years$2,466$1,393$749$389$197$95
49 years$2,388$1,330$704$359$179$84
50 years$2,314$1,271$662$332$162$75

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $2,370,000, adding $2,985 every year, while hoping to spend $29,510 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: 56/28/16 Blend
79$2,370,000$2,370,000$2,370,000$2,370,000
80$2,614,819$2,489,209$2,452,474$2,750,094
81$2,850,132$2,579,782$2,503,233$2,932,934
82$3,108,458$2,673,804$2,554,704$3,128,555
83$3,392,113$2,771,412$2,606,879$3,340,979
84$3,703,649$2,872,752$2,659,750$3,571,822
85$4,045,875$2,977,971$2,713,306$3,822,861
86$4,421,890$3,087,226$2,767,536$4,096,050
87$4,835,102$3,200,680$2,822,429$4,393,541
88$5,289,271$3,318,502$2,877,969$4,717,699
89$5,788,536$3,440,868$2,934,140$5,071,129
90$6,337,459$3,567,963$2,990,926$5,456,697
91$6,941,065$3,699,978$3,048,307$5,877,558
92$7,604,889$3,837,113$3,106,261$6,337,183
93$8,335,033$3,979,576$3,164,765$6,839,393
94$9,138,216$4,127,585$3,223,795$7,388,397
95$10,021,843$4,281,366$3,283,321$7,988,826
96$10,994,074$4,441,156$3,343,315$8,645,780
97$12,063,898$4,607,200$3,403,744$9,364,872
98$13,241,218$4,779,756$3,464,573$10,152,286
99$14,536,950$4,959,092$3,525,764$11,014,829
100$15,963,118$5,145,487$3,587,276$11,959,997