Can I retire at age 80 with 2,950,000?

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$243,608$241,438$239,321$237,255$235,237$230,488
2 years$120,598$118,352$116,175$114,065$112,018$107,253
3 years$79,600$77,344$75,173$73,082$71,069$66,438
4 years$59,105$56,856$54,707$52,652$50,687$46,226
5 years$46,811$44,576$42,455$40,442$38,531$34,253
6 years$38,618$36,400$34,310$32,341$30,488$26,397
7 years$32,768$30,568$28,512$26,590$24,795$20,891
8 years$28,383$26,203$24,180$22,305$20,570$16,853
9 years$24,974$22,814$20,826$18,999$17,323$13,790
10 years$22,248$20,110$18,157$16,378$14,760$11,408
11 years$20,019$17,902$15,985$14,253$12,694$9,518
12 years$18,163$16,068$14,186$12,502$11,000$7,997
13 years$16,594$14,521$12,674$11,038$9,593$6,756
14 years$15,250$13,199$11,388$9,798$8,409$5,733
15 years$14,087$12,058$10,282$8,738$7,404$4,884
16 years$13,070$11,063$9,322$7,824$6,544$4,174
17 years$12,173$10,188$8,483$7,030$5,802$3,576
18 years$11,377$9,414$7,744$6,335$5,159$3,071
19 years$10,666$8,725$7,089$5,724$4,598$2,642
20 years$10,026$8,108$6,506$5,185$4,107$2,277
21 years$9,448$7,552$5,984$4,705$3,675$1,965
22 years$8,924$7,050$5,515$4,278$3,295$1,697
23 years$8,445$6,593$5,092$3,896$2,957$1,468
24 years$8,008$6,178$4,710$3,554$2,658$1,270
25 years$7,606$5,797$4,362$3,245$2,392$1,100
26 years$7,235$5,449$4,046$2,967$2,155$954
27 years$6,892$5,128$3,757$2,716$1,943$827
28 years$6,575$4,832$3,492$2,489$1,753$718
29 years$6,280$4,558$3,250$2,282$1,583$623
30 years$6,005$4,305$3,027$2,094$1,430$541
31 years$5,748$4,070$2,822$1,923$1,293$470
32 years$5,508$3,851$2,633$1,768$1,170$408
33 years$5,283$3,647$2,459$1,626$1,058$355
34 years$5,072$3,456$2,297$1,496$958$308
35 years$4,873$3,278$2,148$1,377$868$268
36 years$4,685$3,111$2,009$1,268$786$233
37 years$4,508$2,955$1,880$1,168$713$203
38 years$4,341$2,808$1,761$1,077$646$176
39 years$4,183$2,671$1,650$993$586$153
40 years$4,033$2,541$1,546$916$531$133
41 years$3,891$2,419$1,450$845$482$116
42 years$3,756$2,303$1,360$780$438$101
43 years$3,627$2,195$1,276$720$397$88
44 years$3,505$2,092$1,198$665$360$76
45 years$3,388$1,995$1,125$614$327$66
46 years$3,277$1,903$1,057$567$297$58
47 years$3,171$1,816$993$524$270$50
48 years$3,070$1,734$933$484$245$44
49 years$2,973$1,656$877$447$223$38
50 years$2,880$1,581$824$414$202$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $2,950,000, adding $6,144 every year, while hoping to spend $37,571 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: 68/24/8 Blend
79$2,950,000$2,950,000$2,950,000$2,950,000
80$3,257,238$3,100,888$3,055,163$3,473,593
81$3,549,501$3,212,856$3,117,535$3,729,830
82$3,870,315$3,329,051$3,180,738$4,004,820
83$4,222,554$3,449,641$3,244,760$4,304,536
84$4,609,381$3,574,801$3,309,586$4,631,391
85$5,034,283$3,704,711$3,375,202$4,988,042
86$5,501,099$3,839,561$3,441,590$5,377,414
87$6,014,060$3,979,548$3,508,732$5,802,724
88$6,577,826$4,124,878$3,576,607$6,267,515
89$7,197,532$4,275,765$3,645,191$6,775,687
90$7,878,834$4,432,431$3,714,459$7,331,532
91$8,627,964$4,595,109$3,784,382$7,939,777
92$9,451,789$4,764,041$3,854,931$8,605,625
93$10,357,872$4,939,480$3,926,072$9,334,806
94$11,354,549$5,121,689$3,997,769$10,133,630
95$12,451,002$5,310,941$4,069,984$11,009,043
96$13,657,349$5,507,522$4,142,674$11,968,696
97$14,984,739$5,711,731$4,215,793$13,021,014
98$16,445,455$5,923,878$4,289,294$14,175,276
99$18,053,030$6,144,286$4,363,124$15,441,701
100$19,822,377$6,373,294$4,437,227$16,831,546