Can I retire at age 80 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$241,957$239,801$237,699$235,646$233,642$232,462
2 years$119,781$117,550$115,388$113,292$111,258$110,067
3 years$79,060$76,820$74,664$72,587$70,587$69,422
4 years$58,704$56,471$54,336$52,295$50,343$49,213
5 years$46,494$44,274$42,167$40,167$38,270$37,178
6 years$38,356$36,153$34,077$32,122$30,282$29,230
7 years$32,546$30,361$28,318$26,409$24,627$23,615
8 years$28,190$26,025$24,016$22,154$20,431$19,459
9 years$24,804$22,660$20,685$18,870$17,206$16,274
10 years$22,097$19,973$18,034$16,267$14,660$13,768
11 years$19,884$17,781$15,877$14,157$12,608$11,755
12 years$18,040$15,959$14,090$12,417$10,926$10,112
13 years$16,482$14,423$12,589$10,963$9,528$8,751
14 years$15,147$13,110$11,311$9,731$8,352$7,612
15 years$13,991$11,976$10,212$8,679$7,354$6,649
16 years$12,981$10,988$9,259$7,771$6,499$5,830
17 years$12,091$10,119$8,425$6,982$5,763$5,127
18 years$11,300$9,351$7,691$6,292$5,124$4,521
19 years$10,593$8,666$7,041$5,686$4,567$3,996
20 years$9,958$8,053$6,462$5,149$4,079$3,538
21 years$9,384$7,501$5,944$4,673$3,651$3,139
22 years$8,863$7,002$5,478$4,249$3,272$2,789
23 years$8,388$6,549$5,058$3,870$2,937$2,481
24 years$7,953$6,136$4,678$3,530$2,640$2,210
25 years$7,554$5,758$4,332$3,223$2,376$1,971
26 years$7,186$5,412$4,018$2,947$2,140$1,759
27 years$6,846$5,093$3,731$2,698$1,929$1,571
28 years$6,530$4,799$3,469$2,472$1,741$1,404
29 years$6,237$4,527$3,228$2,267$1,572$1,256
30 years$5,964$4,276$3,007$2,080$1,420$1,124
31 years$5,709$4,042$2,803$1,910$1,284$1,006
32 years$5,471$3,824$2,615$1,756$1,162$902
33 years$5,247$3,622$2,442$1,615$1,051$808
34 years$5,037$3,433$2,282$1,486$952$724
35 years$4,840$3,256$2,133$1,368$862$650
36 years$4,654$3,090$1,995$1,259$781$583
37 years$4,478$2,935$1,868$1,160$708$523
38 years$4,312$2,789$1,749$1,070$642$469
39 years$4,155$2,652$1,639$986$582$421
40 years$4,006$2,524$1,536$910$528$378
41 years$3,865$2,402$1,440$839$479$340
42 years$3,730$2,288$1,351$775$435$305
43 years$3,603$2,180$1,268$715$394$274
44 years$3,481$2,078$1,190$660$358$246
45 years$3,366$1,981$1,117$610$325$221
46 years$3,255$1,890$1,049$563$295$199
47 years$3,150$1,804$986$520$268$178
48 years$3,049$1,722$926$481$243$160
49 years$2,953$1,644$871$444$221$144
50 years$2,861$1,571$819$411$201$130

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $2,930,000, adding $2,073 every year, while hoping to spend $45,172 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: 51/26/23 Blend
79$2,930,000$2,930,000$2,930,000$2,930,000
80$3,230,998$3,075,708$3,030,293$3,374,915
81$3,512,497$3,178,355$3,083,745$3,577,463
82$3,821,196$3,284,518$3,137,474$3,792,794
83$4,159,819$3,394,321$3,191,441$4,025,996
84$4,531,372$3,507,894$3,245,606$4,278,784
85$4,939,161$3,625,370$3,299,923$4,553,041
86$5,386,831$3,746,888$3,354,345$4,850,845
87$5,878,395$3,872,593$3,408,823$5,174,476
88$6,418,275$4,002,634$3,463,303$5,526,449
89$7,011,341$4,137,166$3,517,726$5,909,529
90$7,662,961$4,276,349$3,572,032$6,326,763
91$8,379,043$4,420,351$3,626,156$6,781,501
92$9,166,102$4,569,345$3,680,029$7,277,436
93$10,031,312$4,723,510$3,733,577$7,818,631
94$10,982,576$4,883,032$3,786,722$8,409,561
95$12,028,603$5,048,105$3,839,382$9,055,153
96$13,178,988$5,218,930$3,891,469$9,760,833
97$14,444,302$5,395,714$3,942,889$10,532,579
98$15,836,190$5,578,674$3,993,546$11,376,970
99$17,367,487$5,768,034$4,043,335$12,301,256
100$19,052,330$5,964,027$4,092,146$13,313,421