Can I retire at age 80 with 2,440,000?

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:
Modify Bond Returns:
Modify Cash Returns:
Modify Inflation:
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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
1 years$201,493$199,698$197,947$196,238$194,569$193,586
2 years$99,749$97,891$96,091$94,345$92,652$91,660
3 years$65,839$63,973$62,177$60,448$58,782$57,812
4 years$48,887$47,027$45,249$43,549$41,924$40,983
5 years$38,719$36,870$35,115$33,450$31,870$30,961
6 years$31,942$30,107$28,378$26,750$25,218$24,342
7 years$27,103$25,284$23,582$21,993$20,509$19,666
8 years$23,476$21,673$20,000$18,449$17,014$16,205
9 years$20,656$18,870$17,226$15,715$14,328$13,553
10 years$18,402$16,633$15,018$13,546$12,208$11,466
11 years$16,558$14,807$13,221$11,789$10,500$9,789
12 years$15,023$13,290$11,734$10,341$9,099$8,421
13 years$13,725$12,011$10,483$9,129$7,934$7,287
14 years$12,614$10,917$9,419$8,104$6,955$6,339
15 years$11,651$9,973$8,504$7,227$6,124$5,537
16 years$10,810$9,150$7,710$6,471$5,412$4,855
17 years$10,069$8,427$7,016$5,814$4,799$4,269
18 years$9,410$7,787$6,405$5,240$4,267$3,765
19 years$8,822$7,217$5,863$4,735$3,803$3,327
20 years$8,293$6,706$5,381$4,288$3,397$2,947
21 years$7,815$6,247$4,950$3,892$3,040$2,614
22 years$7,381$5,831$4,562$3,539$2,725$2,323
23 years$6,985$5,454$4,212$3,223$2,446$2,066
24 years$6,623$5,110$3,895$2,939$2,199$1,841
25 years$6,291$4,795$3,608$2,684$1,978$1,641
26 years$5,984$4,507$3,346$2,454$1,782$1,465
27 years$5,701$4,241$3,107$2,247$1,607$1,308
28 years$5,438$3,997$2,889$2,058$1,450$1,169
29 years$5,194$3,770$2,688$1,888$1,309$1,046
30 years$4,967$3,561$2,504$1,732$1,183$936
31 years$4,754$3,366$2,334$1,591$1,069$838
32 years$4,556$3,185$2,178$1,462$967$751
33 years$4,370$3,016$2,033$1,345$875$673
34 years$4,195$2,859$1,900$1,237$793$603
35 years$4,030$2,711$1,776$1,139$718$541
36 years$3,875$2,573$1,662$1,049$650$485
37 years$3,729$2,444$1,555$966$590$435
38 years$3,591$2,323$1,457$891$534$391
39 years$3,460$2,209$1,365$821$485$351
40 years$3,336$2,102$1,279$758$440$315
41 years$3,218$2,000$1,199$699$399$283
42 years$3,106$1,905$1,125$645$362$254
43 years$3,000$1,815$1,056$595$328$228
44 years$2,899$1,730$991$550$298$205
45 years$2,803$1,650$930$508$271$184
46 years$2,711$1,574$874$469$246$165
47 years$2,623$1,502$821$433$223$149
48 years$2,539$1,434$772$400$203$134
49 years$2,459$1,369$725$370$184$120
50 years$2,382$1,308$682$342$167$108

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $2,440,000, adding $3,524 every year, while hoping to spend $58,330 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: 44/34/22 Blend