Can I retire at age 80 with 2,420,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$199,841$198,061$196,325$194,629$192,974$189,934
2 years$98,931$97,089$95,303$93,572$91,892$88,837
3 years$65,299$63,449$61,667$59,952$58,300$55,325
4 years$48,486$46,641$44,878$43,192$41,580$38,708
5 years$38,401$36,567$34,827$33,176$31,609$28,848
6 years$31,680$29,860$28,146$26,531$25,011$22,365
7 years$26,881$25,076$23,389$21,813$20,341$17,810
8 years$23,283$21,495$19,836$18,298$16,874$14,459
9 years$20,487$18,715$17,085$15,586$14,211$11,909
10 years$18,251$16,497$14,895$13,435$12,108$9,918
11 years$16,423$14,686$13,113$11,693$10,413$8,333
12 years$14,900$13,181$11,638$10,256$9,024$7,051
13 years$13,613$11,912$10,397$9,055$7,869$6,000
14 years$12,510$10,828$9,342$8,038$6,898$5,130
15 years$11,556$9,891$8,435$7,168$6,074$4,403
16 years$10,722$9,075$7,647$6,418$5,368$3,792
17 years$9,986$8,358$6,959$5,767$4,760$3,275
18 years$9,333$7,723$6,352$5,197$4,232$2,835
19 years$8,749$7,158$5,815$4,696$3,772$2,459
20 years$8,225$6,651$5,337$4,253$3,369$2,136
21 years$7,751$6,195$4,909$3,860$3,015$1,859
22 years$7,320$5,783$4,524$3,510$2,703$1,620
23 years$6,928$5,409$4,177$3,196$2,426$1,413
24 years$6,569$5,068$3,863$2,915$2,181$1,233
25 years$6,239$4,756$3,578$2,662$1,962$1,078
26 years$5,935$4,470$3,319$2,434$1,767$942
27 years$5,654$4,207$3,082$2,228$1,594$824
28 years$5,394$3,964$2,865$2,041$1,438$722
29 years$5,152$3,739$2,666$1,872$1,298$632
30 years$4,926$3,531$2,483$1,718$1,173$554
31 years$4,716$3,338$2,315$1,578$1,061$485
32 years$4,519$3,159$2,160$1,450$959$426
33 years$4,334$2,991$2,017$1,334$868$373
34 years$4,160$2,835$1,884$1,227$786$327
35 years$3,997$2,689$1,762$1,129$712$287
36 years$3,844$2,552$1,648$1,040$645$252
37 years$3,698$2,424$1,543$958$585$221
38 years$3,561$2,304$1,445$883$530$194
39 years$3,432$2,191$1,353$815$481$171
40 years$3,309$2,084$1,269$751$436$150
41 years$3,192$1,984$1,190$693$396$131
42 years$3,081$1,890$1,116$640$359$115
43 years$2,976$1,800$1,047$591$326$101
44 years$2,875$1,716$983$545$296$89
45 years$2,780$1,636$923$504$268$78
46 years$2,689$1,561$867$465$244$69
47 years$2,602$1,490$814$430$221$60
48 years$2,518$1,422$765$397$201$53
49 years$2,439$1,358$719$367$183$47
50 years$2,363$1,297$676$339$166$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $2,420,000, adding $2,944 every year, while hoping to spend $49,337 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: 69/16/15 Blend
79$2,420,000$2,420,000$2,420,000$2,420,000
80$2,669,877$2,541,617$2,504,107$2,844,652
81$2,889,710$2,613,662$2,535,500$3,033,390
82$3,130,313$2,687,583$2,566,292$3,233,658
83$3,393,751$2,763,422$2,596,409$3,451,511
84$3,682,301$2,841,216$2,625,776$3,688,675
85$3,998,468$2,921,009$2,654,312$3,947,049
86$4,345,012$3,002,838$2,681,932$4,228,726
87$4,724,973$3,086,747$2,708,546$4,536,011
88$5,141,698$3,172,775$2,734,060$4,871,440
89$5,598,874$3,260,965$2,758,374$5,237,810
90$6,100,564$3,351,356$2,781,384$5,638,199
91$6,651,239$3,443,990$2,802,978$6,075,999
92$7,255,829$3,538,909$2,823,041$6,554,946
93$7,919,761$3,636,153$2,841,450$7,079,156
94$8,649,014$3,735,763$2,858,077$7,653,161
95$9,450,178$3,837,779$2,872,786$8,281,958
96$10,330,507$3,942,241$2,885,436$8,971,049
97$11,297,996$4,049,188$2,895,875$9,726,497
98$12,361,453$4,158,660$2,903,949$10,554,980
99$13,530,582$4,270,695$2,909,492$11,463,858
100$14,816,072$4,385,329$2,912,330$12,461,240