Can I retire at age 80 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$244,434$242,257$240,132$238,059$236,035$235,040
2 years$121,007$118,753$116,569$114,451$112,397$111,393
3 years$79,870$77,607$75,428$73,330$71,310$70,327
4 years$59,306$57,049$54,892$52,830$50,859$49,905
5 years$46,970$44,727$42,599$40,579$38,662$37,740
6 years$38,749$36,523$34,426$32,451$30,592$29,704
7 years$32,879$30,672$28,608$26,680$24,879$24,025
8 years$28,479$26,292$24,262$22,381$20,640$19,819
9 years$25,058$22,892$20,897$19,064$17,382$16,594
10 years$22,323$20,178$18,218$16,433$14,810$14,056
11 years$20,087$17,963$16,039$14,302$12,737$12,015
12 years$18,225$16,123$14,234$12,545$11,038$10,348
13 years$16,650$14,570$12,717$11,075$9,625$8,967
14 years$15,302$13,244$11,427$9,831$8,437$7,810
15 years$14,135$12,099$10,317$8,768$7,429$6,831
16 years$13,114$11,100$9,354$7,850$6,566$5,997
17 years$12,214$10,223$8,511$7,054$5,822$5,282
18 years$11,416$9,446$7,770$6,357$5,176$4,664
19 years$10,702$8,755$7,113$5,744$4,614$4,128
20 years$10,060$8,135$6,528$5,202$4,121$3,661
21 years$9,480$7,578$6,004$4,721$3,688$3,252
22 years$8,954$7,074$5,534$4,293$3,306$2,894
23 years$8,474$6,616$5,110$3,909$2,967$2,579
24 years$8,035$6,199$4,726$3,566$2,667$2,300
25 years$7,631$5,817$4,377$3,256$2,400$2,054
26 years$7,260$5,467$4,059$2,977$2,162$1,836
27 years$6,916$5,145$3,769$2,725$1,949$1,643
28 years$6,597$4,848$3,504$2,497$1,759$1,471
29 years$6,301$4,574$3,261$2,290$1,588$1,318
30 years$6,025$4,319$3,037$2,101$1,435$1,181
31 years$5,768$4,083$2,832$1,930$1,297$1,059
32 years$5,527$3,864$2,642$1,774$1,173$950
33 years$5,301$3,659$2,467$1,631$1,062$853
34 years$5,089$3,468$2,305$1,501$962$766
35 years$4,889$3,289$2,155$1,382$871$688
36 years$4,701$3,122$2,016$1,272$789$618
37 years$4,524$2,965$1,887$1,172$715$556
38 years$4,356$2,818$1,767$1,081$648$500
39 years$4,197$2,680$1,655$996$588$449
40 years$4,047$2,549$1,552$919$533$404
41 years$3,904$2,427$1,455$848$484$363
42 years$3,769$2,311$1,365$782$439$327
43 years$3,640$2,202$1,281$722$398$294
44 years$3,517$2,099$1,202$667$362$265
45 years$3,400$2,002$1,129$616$328$238
46 years$3,288$1,909$1,060$569$298$214
47 years$3,182$1,822$996$526$271$193
48 years$3,080$1,740$936$486$246$174
49 years$2,983$1,661$880$449$223$156
50 years$2,890$1,587$827$415$203$141

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $2,960,000, adding $4,163 every year, while hoping to spend $23,044 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: 79/14/7 Blend
79$2,960,000$2,960,000$2,960,000$2,960,000
80$3,266,214$3,109,334$3,063,454$3,521,378
81$3,574,849$3,237,173$3,141,561$3,817,081
82$3,914,193$3,370,503$3,221,513$4,137,941
83$4,287,353$3,509,570$3,303,346$4,489,222
84$4,697,754$3,654,630$3,387,098$4,873,945
85$5,149,167$3,805,950$3,472,809$5,295,437
86$5,645,751$3,963,810$3,560,517$5,757,359
87$6,192,085$4,128,503$3,650,261$6,263,747
88$6,793,214$4,300,336$3,742,081$6,819,039
89$7,454,698$4,479,630$3,836,017$7,428,128
90$8,182,664$4,666,719$3,932,111$8,096,397
91$8,983,862$4,861,954$4,030,403$8,829,779
92$9,865,729$5,065,702$4,130,934$9,634,804
93$10,836,460$5,278,348$4,233,747$10,518,668
94$11,905,084$5,500,293$4,338,883$11,489,292
95$13,081,553$5,731,957$4,446,386$12,555,406
96$14,376,829$5,973,781$4,556,297$13,726,620
97$15,802,994$6,226,224$4,668,661$15,013,524
98$17,373,358$6,489,769$4,783,521$16,427,779
99$19,102,592$6,764,918$4,900,920$17,982,234
100$21,006,857$7,052,200$5,020,901$19,691,041