Can I retire at age 80 with 2,840,000?

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 $2,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$234,525$232,436$230,397$228,408$226,466$221,531
2 years$116,101$113,939$111,843$109,812$107,841$102,894
3 years$76,632$74,460$72,370$70,357$68,419$63,614
4 years$56,901$54,736$52,667$50,689$48,797$44,172
5 years$45,066$42,914$40,872$38,934$37,094$32,662
6 years$37,178$35,042$33,030$31,136$29,352$25,116
7 years$31,546$29,429$27,448$25,598$23,871$19,833
8 years$27,324$25,226$23,278$21,474$19,803$15,962
9 years$24,042$21,964$20,050$18,291$16,677$13,030
10 years$21,418$19,360$17,480$15,767$14,210$10,752
11 years$19,273$17,235$15,389$13,722$12,221$8,949
12 years$17,486$15,469$13,657$12,036$10,590$7,498
13 years$15,975$13,980$12,202$10,626$9,235$6,318
14 years$14,682$12,707$10,963$9,433$8,095$5,347
15 years$13,561$11,608$9,899$8,412$7,128$4,543
16 years$12,582$10,650$8,974$7,532$6,300$3,871
17 years$11,719$9,808$8,166$6,768$5,586$3,307
18 years$10,953$9,063$7,455$6,099$4,966$2,832
19 years$10,268$8,400$6,825$5,511$4,427$2,429
20 years$9,652$7,806$6,263$4,991$3,954$2,087
21 years$9,096$7,271$5,761$4,530$3,538$1,795
22 years$8,591$6,787$5,310$4,119$3,172$1,546
23 years$8,131$6,348$4,903$3,751$2,847$1,333
24 years$7,709$5,947$4,534$3,421$2,559$1,150
25 years$7,322$5,581$4,199$3,124$2,303$993
26 years$6,965$5,245$3,895$2,857$2,074$858
27 years$6,635$4,937$3,617$2,615$1,870$742
28 years$6,330$4,652$3,362$2,396$1,687$641
29 years$6,046$4,388$3,129$2,197$1,524$555
30 years$5,781$4,144$2,914$2,016$1,377$480
31 years$5,534$3,918$2,717$1,852$1,245$416
32 years$5,303$3,707$2,535$1,702$1,126$360
33 years$5,086$3,511$2,367$1,565$1,019$312
34 years$4,882$3,327$2,211$1,440$923$270
35 years$4,691$3,156$2,068$1,326$836$234
36 years$4,511$2,995$1,934$1,221$757$203
37 years$4,340$2,845$1,810$1,125$686$176
38 years$4,179$2,704$1,695$1,037$622$152
39 years$4,027$2,571$1,588$956$564$132
40 years$3,883$2,446$1,489$882$512$114
41 years$3,746$2,328$1,396$813$464$99
42 years$3,616$2,217$1,309$751$421$86
43 years$3,492$2,113$1,229$693$382$75
44 years$3,374$2,014$1,153$640$347$65
45 years$3,262$1,920$1,083$591$315$56
46 years$3,155$1,832$1,017$546$286$49
47 years$3,053$1,748$956$504$260$42
48 years$2,955$1,669$898$466$236$37
49 years$2,862$1,594$844$431$214$32
50 years$2,773$1,522$794$398$195$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $2,840,000, adding $5,789 every year, while hoping to spend $51,258 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: 62/25/13 Blend
79$2,840,000$2,840,000$2,840,000$2,840,000
80$3,135,651$2,985,131$2,941,111$3,319,929
81$3,400,950$3,076,865$2,985,100$3,535,990
82$3,691,590$3,171,375$3,028,845$3,765,368
83$4,010,105$3,268,744$3,072,283$4,014,502
84$4,359,279$3,369,057$3,115,349$4,285,311
85$4,742,184$3,472,399$3,157,972$4,579,906
86$5,162,201$3,578,860$3,200,077$4,900,609
87$5,623,053$3,688,532$3,241,587$5,249,981
88$6,128,842$3,801,508$3,282,419$5,630,836
89$6,684,088$3,917,886$3,322,484$6,046,275
90$7,293,767$4,037,764$3,361,689$6,499,713
91$7,963,362$4,161,246$3,399,936$6,994,911
92$8,698,913$4,288,435$3,437,123$7,536,007
93$9,507,074$4,419,440$3,473,138$8,127,563
94$10,395,175$4,554,372$3,507,867$8,774,600
95$11,371,291$4,693,344$3,541,189$9,482,649
96$12,444,319$4,836,475$3,572,975$10,257,803
97$13,624,061$4,983,882$3,603,091$11,106,772
98$14,921,314$5,135,692$3,631,393$12,036,947
99$16,347,976$5,292,029$3,657,733$13,056,471
100$17,917,155$5,453,024$3,681,953$14,174,312