Can I retire at age 80 with 2,970,000?

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 $2,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$245,260$243,075$240,944$238,863$236,832$234,848
2 years$121,416$119,154$116,963$114,838$112,777$110,777
3 years$80,140$77,869$75,683$73,578$71,550$69,597
4 years$59,506$57,242$55,078$53,009$51,030$49,138
5 years$47,129$44,878$42,743$40,716$38,792$36,967
6 years$38,880$36,646$34,542$32,561$30,695$28,939
7 years$32,990$30,776$28,705$26,770$24,963$23,278
8 years$28,575$26,380$24,344$22,457$20,710$19,094
9 years$25,143$22,969$20,967$19,128$17,440$15,894
10 years$22,399$20,246$18,280$16,489$14,860$13,383
11 years$20,155$18,024$16,093$14,350$12,780$11,370
12 years$18,286$16,177$14,282$12,587$11,075$9,731
13 years$16,707$14,619$12,760$11,112$9,658$8,379
14 years$15,354$13,289$11,465$9,864$8,466$7,250
15 years$14,182$12,139$10,352$8,797$7,454$6,300
16 years$13,158$11,138$9,385$7,877$6,588$5,493
17 years$12,256$10,257$8,540$7,077$5,841$4,804
18 years$11,454$9,478$7,796$6,378$5,194$4,213
19 years$10,738$8,784$7,137$5,763$4,629$3,702
20 years$10,094$8,163$6,550$5,220$4,135$3,259
21 years$9,512$7,603$6,025$4,737$3,700$2,875
22 years$8,984$7,098$5,553$4,307$3,317$2,539
23 years$8,503$6,638$5,127$3,923$2,977$2,245
24 years$8,062$6,220$4,742$3,578$2,676$1,988
25 years$7,657$5,837$4,392$3,267$2,408$1,761
26 years$7,284$5,486$4,073$2,987$2,169$1,562
27 years$6,939$5,163$3,782$2,735$1,956$1,387
28 years$6,619$4,865$3,516$2,505$1,765$1,232
29 years$6,322$4,589$3,272$2,298$1,593$1,094
30 years$6,046$4,334$3,048$2,109$1,440$973
31 years$5,787$4,097$2,841$1,937$1,302$866
32 years$5,545$3,877$2,651$1,780$1,177$770
33 years$5,319$3,671$2,475$1,637$1,066$686
34 years$5,106$3,480$2,313$1,506$965$611
35 years$4,906$3,300$2,162$1,386$874$544
36 years$4,717$3,132$2,023$1,277$792$485
37 years$4,539$2,975$1,893$1,176$718$432
38 years$4,371$2,827$1,773$1,084$651$385
39 years$4,211$2,689$1,661$1,000$590$343
40 years$4,060$2,558$1,557$922$535$306
41 years$3,917$2,435$1,460$851$485$273
42 years$3,781$2,319$1,369$785$441$244
43 years$3,652$2,210$1,285$725$400$217
44 years$3,529$2,106$1,206$669$363$194
45 years$3,411$2,008$1,133$618$329$173
46 years$3,300$1,916$1,064$571$299$154
47 years$3,193$1,828$999$527$272$138
48 years$3,091$1,745$939$487$247$123
49 years$2,993$1,667$883$450$224$110
50 years$2,900$1,592$830$416$203$98

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $2,970,000, adding $2,951 every year, while hoping to spend $24,769 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: 46/24/30 Blend
79$2,970,000$2,970,000$2,970,000$2,970,000
80$3,275,984$3,118,574$3,072,539$3,398,225
81$3,583,780$3,245,030$3,149,115$3,611,853
82$3,922,142$3,376,852$3,227,426$3,840,900
83$4,294,160$3,514,278$3,307,504$4,088,969
84$4,703,240$3,657,553$3,389,382$4,357,858
85$5,153,136$3,806,939$3,473,092$4,649,545
86$5,647,981$3,962,704$3,558,665$4,966,204
87$6,192,331$4,125,133$3,646,137$5,310,226
88$6,791,205$4,294,520$3,735,538$5,684,240
89$7,450,132$4,471,176$3,826,903$6,091,137
90$8,175,207$4,655,424$3,920,265$6,534,098
91$8,973,141$4,847,603$4,015,657$7,016,622
92$9,851,332$5,048,067$4,113,113$7,542,557
93$10,817,932$5,257,186$4,212,666$8,116,140
94$11,881,920$5,475,347$4,314,349$8,742,031
95$13,053,192$5,702,956$4,418,197$9,425,359
96$14,342,653$5,940,436$4,524,242$10,171,767
97$15,762,317$6,188,231$4,632,517$10,987,470
98$17,325,423$6,446,804$4,743,056$11,879,304
99$19,046,560$6,716,640$4,855,892$12,854,798
100$20,941,801$6,998,248$4,971,057$13,922,238