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

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$199,841$198,061$196,325$194,629$192,974$190,169
2 years$98,931$97,089$95,303$93,572$91,892$89,072
3 years$65,299$63,449$61,667$59,952$58,300$55,553
4 years$48,486$46,641$44,878$43,192$41,580$38,926
5 years$38,401$36,567$34,827$33,176$31,609$29,056
6 years$31,680$29,860$28,146$26,531$25,011$22,563
7 years$26,881$25,076$23,389$21,813$20,341$17,998
8 years$23,283$21,495$19,836$18,298$16,874$14,637
9 years$20,487$18,715$17,085$15,586$14,211$12,077
10 years$18,251$16,497$14,895$13,435$12,108$10,076
11 years$16,423$14,686$13,113$11,693$10,413$8,482
12 years$14,900$13,181$11,638$10,256$9,024$7,191
13 years$13,613$11,912$10,397$9,055$7,869$6,131
14 years$12,510$10,828$9,342$8,038$6,898$5,253
15 years$11,556$9,891$8,435$7,168$6,074$4,518
16 years$10,722$9,075$7,647$6,418$5,368$3,899
17 years$9,986$8,358$6,959$5,767$4,760$3,374
18 years$9,333$7,723$6,352$5,197$4,232$2,927
19 years$8,749$7,158$5,815$4,696$3,772$2,544
20 years$8,225$6,651$5,337$4,253$3,369$2,216
21 years$7,751$6,195$4,909$3,860$3,015$1,932
22 years$7,320$5,783$4,524$3,510$2,703$1,687
23 years$6,928$5,409$4,177$3,196$2,426$1,475
24 years$6,569$5,068$3,863$2,915$2,181$1,291
25 years$6,239$4,756$3,578$2,662$1,962$1,131
26 years$5,935$4,470$3,319$2,434$1,767$991
27 years$5,654$4,207$3,082$2,228$1,594$869
28 years$5,394$3,964$2,865$2,041$1,438$763
29 years$5,152$3,739$2,666$1,872$1,298$670
30 years$4,926$3,531$2,483$1,718$1,173$588
31 years$4,716$3,338$2,315$1,578$1,061$517
32 years$4,519$3,159$2,160$1,450$959$454
33 years$4,334$2,991$2,017$1,334$868$399
34 years$4,160$2,835$1,884$1,227$786$351
35 years$3,997$2,689$1,762$1,129$712$309
36 years$3,844$2,552$1,648$1,040$645$272
37 years$3,698$2,424$1,543$958$585$239
38 years$3,561$2,304$1,445$883$530$210
39 years$3,432$2,191$1,353$815$481$185
40 years$3,309$2,084$1,269$751$436$163
41 years$3,192$1,984$1,190$693$396$144
42 years$3,081$1,890$1,116$640$359$126
43 years$2,976$1,800$1,047$591$326$111
44 years$2,875$1,716$983$545$296$98
45 years$2,780$1,636$923$504$268$86
46 years$2,689$1,561$867$465$244$76
47 years$2,602$1,490$814$430$221$67
48 years$2,518$1,422$765$397$201$59
49 years$2,439$1,358$719$367$183$52
50 years$2,363$1,297$676$339$166$46

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 $4,509 every year, while hoping to spend $32,672 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: 42/41/17 Blend
79$2,420,000$2,420,000$2,420,000$2,420,000
80$2,671,491$2,543,231$2,505,721$2,770,215
81$2,909,220$2,633,087$2,554,900$2,930,237
82$3,170,103$2,726,250$2,604,631$3,099,865
83$3,456,466$2,822,849$2,654,899$3,282,861
84$3,770,873$2,923,016$2,705,686$3,480,465
85$4,116,148$3,026,890$2,756,972$3,694,040
86$4,495,402$3,134,614$2,808,737$3,925,084
87$4,912,060$3,246,337$2,860,957$4,175,244
88$5,369,899$3,362,216$2,913,607$4,446,330
89$5,873,076$3,482,413$2,966,661$4,740,330
90$6,426,174$3,607,095$3,020,089$5,059,434
91$7,034,241$3,736,440$3,073,859$5,406,048
92$7,702,837$3,870,629$3,127,937$5,782,819
93$8,438,090$4,009,853$3,182,286$6,192,657
94$9,246,750$4,154,311$3,236,868$6,638,765
95$10,136,255$4,304,208$3,291,639$7,124,668
96$11,114,798$4,459,760$3,346,554$7,654,243
97$12,191,410$4,621,190$3,401,565$8,231,756
98$13,376,037$4,788,732$3,456,621$8,861,903
99$14,679,640$4,962,627$3,511,666$9,549,852
100$16,114,298$5,143,131$3,566,641$10,301,292