Can I retire at age 80 with 2,940,000?

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 $2,940,000?

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$242,782$240,620$238,510$236,451$234,440$231,032
2 years$120,189$117,951$115,782$113,678$111,638$108,212
3 years$79,330$77,082$74,918$72,835$70,828$67,489
4 years$58,905$56,664$54,521$52,473$50,515$47,291
5 years$46,653$44,425$42,311$40,305$38,401$35,300
6 years$38,487$36,276$34,193$32,232$30,385$27,411
7 years$32,657$30,465$28,415$26,500$24,711$21,865
8 years$28,287$26,114$24,098$22,230$20,500$17,782
9 years$24,889$22,737$20,756$18,935$17,264$14,672
10 years$22,172$20,041$18,095$16,322$14,710$12,242
11 years$19,951$17,842$15,931$14,205$12,651$10,305
12 years$18,102$16,014$14,138$12,460$10,963$8,736
13 years$16,538$14,472$12,632$11,000$9,560$7,448
14 years$15,199$13,154$11,349$9,765$8,380$6,381
15 years$14,039$12,017$10,247$8,708$7,379$5,489
16 years$13,025$11,025$9,290$7,797$6,521$4,737
17 years$12,132$10,154$8,454$7,006$5,782$4,099
18 years$11,338$9,383$7,717$6,314$5,141$3,556
19 years$10,629$8,696$7,065$5,705$4,583$3,091
20 years$9,992$8,080$6,484$5,167$4,093$2,692
21 years$9,416$7,527$5,964$4,689$3,663$2,348
22 years$8,893$7,026$5,497$4,264$3,283$2,050
23 years$8,417$6,571$5,075$3,883$2,947$1,792
24 years$7,981$6,157$4,694$3,542$2,649$1,568
25 years$7,580$5,778$4,347$3,234$2,384$1,373
26 years$7,210$5,430$4,032$2,957$2,147$1,204
27 years$6,869$5,110$3,744$2,707$1,936$1,056
28 years$6,553$4,816$3,480$2,480$1,747$926
29 years$6,259$4,543$3,239$2,274$1,577$813
30 years$5,985$4,290$3,017$2,087$1,425$714
31 years$5,729$4,056$2,813$1,917$1,289$628
32 years$5,489$3,838$2,624$1,762$1,166$552
33 years$5,265$3,634$2,450$1,620$1,055$485
34 years$5,054$3,444$2,289$1,491$955$427
35 years$4,856$3,267$2,140$1,372$865$375
36 years$4,669$3,101$2,002$1,264$784$330
37 years$4,493$2,945$1,874$1,164$710$291
38 years$4,327$2,799$1,755$1,073$644$256
39 years$4,169$2,661$1,644$990$584$225
40 years$4,019$2,532$1,541$913$530$198
41 years$3,878$2,410$1,445$842$481$174
42 years$3,743$2,296$1,356$777$436$154
43 years$3,615$2,187$1,272$717$396$135
44 years$3,493$2,085$1,194$662$359$119
45 years$3,377$1,988$1,121$612$326$105
46 years$3,266$1,897$1,053$565$296$92
47 years$3,161$1,810$989$522$269$81
48 years$3,060$1,728$930$482$244$72
49 years$2,963$1,650$874$446$222$63
50 years$2,870$1,576$821$412$201$56

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $2,940,000, adding $4,381 every year, while hoping to spend $22,044 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: 71/12/17 Blend
79$2,940,000$2,940,000$2,940,000$2,940,000
80$3,244,399$3,088,579$3,043,009$3,461,535
81$3,551,873$3,216,465$3,121,495$3,734,346
82$3,889,971$3,349,878$3,201,872$4,029,858
83$4,261,792$3,489,066$3,284,179$4,352,825
84$4,670,753$3,634,289$3,368,457$4,705,958
85$5,120,618$3,785,817$3,454,748$5,092,244
86$5,615,532$3,943,933$3,543,093$5,514,971
87$6,160,064$4,108,934$3,633,535$5,977,757
88$6,759,249$4,281,130$3,726,117$6,484,588
89$7,418,633$4,460,846$3,820,882$7,039,853
90$8,144,327$4,648,421$3,917,875$7,648,383
91$8,943,065$4,844,210$4,017,141$8,315,500
92$9,822,267$5,048,586$4,118,725$9,047,065
93$10,790,109$5,261,937$4,222,672$9,849,530
94$11,855,598$5,484,670$4,329,030$10,730,005
95$13,028,662$5,717,211$4,437,845$11,696,316
96$14,320,237$5,960,007$4,549,165$12,757,088
97$15,742,377$6,213,523$4,663,037$13,921,817
98$17,308,361$6,478,247$4,779,511$15,200,964
99$19,032,824$6,754,692$4,898,635$16,606,052
100$20,931,891$7,043,391$5,020,458$18,149,773