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

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$243,608$241,438$239,321$237,255$235,237$227,890
2 years$120,598$118,352$116,175$114,065$112,018$104,681
3 years$79,600$77,344$75,173$73,082$71,069$63,972
4 years$59,105$56,856$54,707$52,652$50,687$43,885
5 years$46,811$44,576$42,455$40,442$38,531$32,043
6 years$38,618$36,400$34,310$32,341$30,488$24,319
7 years$32,768$30,568$28,512$26,590$24,795$18,944
8 years$28,383$26,203$24,180$22,305$20,570$15,034
9 years$24,974$22,814$20,826$18,999$17,323$12,095
10 years$22,248$20,110$18,157$16,378$14,760$9,833
11 years$20,019$17,902$15,985$14,253$12,694$8,059
12 years$18,163$16,068$14,186$12,502$11,000$6,647
13 years$16,594$14,521$12,674$11,038$9,593$5,511
14 years$15,250$13,199$11,388$9,798$8,409$4,588
15 years$14,087$12,058$10,282$8,738$7,404$3,832
16 years$13,070$11,063$9,322$7,824$6,544$3,210
17 years$12,173$10,188$8,483$7,030$5,802$2,695
18 years$11,377$9,414$7,744$6,335$5,159$2,267
19 years$10,666$8,725$7,089$5,724$4,598$1,910
20 years$10,026$8,108$6,506$5,185$4,107$1,611
21 years$9,448$7,552$5,984$4,705$3,675$1,361
22 years$8,924$7,050$5,515$4,278$3,295$1,150
23 years$8,445$6,593$5,092$3,896$2,957$973
24 years$8,008$6,178$4,710$3,554$2,658$824
25 years$7,606$5,797$4,362$3,245$2,392$698
26 years$7,235$5,449$4,046$2,967$2,155$591
27 years$6,892$5,128$3,757$2,716$1,943$501
28 years$6,575$4,832$3,492$2,489$1,753$425
29 years$6,280$4,558$3,250$2,282$1,583$361
30 years$6,005$4,305$3,027$2,094$1,430$306
31 years$5,748$4,070$2,822$1,923$1,293$260
32 years$5,508$3,851$2,633$1,768$1,170$220
33 years$5,283$3,647$2,459$1,626$1,058$187
34 years$5,072$3,456$2,297$1,496$958$159
35 years$4,873$3,278$2,148$1,377$868$135
36 years$4,685$3,111$2,009$1,268$786$115
37 years$4,508$2,955$1,880$1,168$713$97
38 years$4,341$2,808$1,761$1,077$646$83
39 years$4,183$2,671$1,650$993$586$70
40 years$4,033$2,541$1,546$916$531$60
41 years$3,891$2,419$1,450$845$482$51
42 years$3,756$2,303$1,360$780$438$43
43 years$3,627$2,195$1,276$720$397$37
44 years$3,505$2,092$1,198$665$360$31
45 years$3,388$1,995$1,125$614$327$26
46 years$3,277$1,903$1,057$567$297$22
47 years$3,171$1,816$993$524$270$19
48 years$3,070$1,734$933$484$245$16
49 years$2,973$1,656$877$447$223$14
50 years$2,880$1,581$824$414$202$12

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 $4,072 every year, while hoping to spend $56,383 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: 34/46/20 Blend
79$2,950,000$2,950,000$2,950,000$2,950,000
80$3,255,100$3,098,750$3,053,025$3,345,684
81$3,527,129$3,190,598$3,095,311$3,504,771
82$3,825,016$3,285,056$3,137,123$3,670,727
83$4,151,337$3,382,194$3,178,386$3,848,520
84$4,508,933$3,482,081$3,219,021$4,039,231
85$4,900,930$3,584,788$3,258,944$4,244,049
86$5,330,770$3,690,389$3,298,065$4,464,281
87$5,802,248$3,798,957$3,336,289$4,701,365
88$6,319,541$3,910,569$3,373,518$4,956,882
89$6,887,249$4,025,302$3,409,646$5,232,572
90$7,510,442$4,143,236$3,444,562$5,530,350
91$8,194,702$4,264,449$3,478,150$5,852,321
92$8,946,180$4,389,026$3,510,287$6,200,805
93$9,771,651$4,517,048$3,540,842$6,578,354
94$10,678,578$4,648,602$3,569,678$6,987,777
95$11,675,183$4,783,774$3,596,653$7,432,168
96$12,770,525$4,922,652$3,621,614$7,914,931
97$13,974,583$5,065,326$3,644,402$8,439,816
98$15,298,350$5,211,888$3,664,850$9,010,951
99$16,753,941$5,362,429$3,682,781$9,632,885
100$18,354,699$5,517,044$3,698,011$10,310,624