Can I retire at age 80 with 2,980,000?

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 $2,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$246,086$243,894$241,755$239,668$237,629$234,272
2 years$121,825$119,556$117,357$115,225$113,157$109,781
3 years$80,410$78,131$75,938$73,826$71,791$68,501
4 years$59,706$57,435$55,263$53,187$51,202$48,024
5 years$47,287$45,029$42,886$40,853$38,923$35,866
6 years$39,011$36,770$34,659$32,670$30,799$27,866
7 years$33,101$30,879$28,801$26,860$25,047$22,240
8 years$28,671$26,469$24,426$22,532$20,779$18,097
9 years$25,228$23,046$21,038$19,193$17,499$14,941
10 years$22,474$20,314$18,341$16,544$14,910$12,474
11 years$20,223$18,084$16,148$14,398$12,823$10,507
12 years$18,348$16,232$14,331$12,629$11,112$8,913
13 years$16,763$14,669$12,803$11,150$9,690$7,604
14 years$15,405$13,333$11,504$9,898$8,494$6,519
15 years$14,230$12,180$10,386$8,827$7,479$5,611
16 years$13,203$11,175$9,417$7,903$6,610$4,846
17 years$12,297$10,292$8,569$7,101$5,861$4,197
18 years$11,493$9,510$7,822$6,400$5,211$3,643
19 years$10,774$8,814$7,161$5,783$4,645$3,169
20 years$10,128$8,190$6,572$5,237$4,149$2,762
21 years$9,544$7,629$6,045$4,753$3,713$2,410
22 years$9,014$7,121$5,571$4,322$3,328$2,106
23 years$8,531$6,661$5,144$3,936$2,987$1,843
24 years$8,089$6,240$4,757$3,590$2,685$1,614
25 years$7,683$5,856$4,406$3,278$2,416$1,415
26 years$7,309$5,504$4,087$2,998$2,176$1,241
27 years$6,963$5,180$3,795$2,744$1,962$1,089
28 years$6,642$4,881$3,528$2,514$1,771$957
29 years$6,344$4,605$3,283$2,305$1,599$840
30 years$6,066$4,349$3,058$2,116$1,445$739
31 years$5,807$4,111$2,851$1,943$1,306$650
32 years$5,564$3,890$2,660$1,786$1,181$572
33 years$5,337$3,684$2,484$1,642$1,069$503
34 years$5,123$3,491$2,320$1,511$968$443
35 years$4,922$3,311$2,169$1,391$877$390
36 years$4,733$3,143$2,029$1,281$794$343
37 years$4,554$2,985$1,900$1,180$720$302
38 years$4,385$2,837$1,779$1,088$653$266
39 years$4,226$2,698$1,667$1,003$592$235
40 years$4,074$2,567$1,562$925$537$207
41 years$3,930$2,443$1,465$854$487$182
42 years$3,794$2,327$1,374$788$442$160
43 years$3,664$2,217$1,289$727$401$141
44 years$3,541$2,113$1,210$671$364$125
45 years$3,423$2,015$1,136$620$331$110
46 years$3,311$1,922$1,067$573$300$97
47 years$3,204$1,835$1,003$529$273$85
48 years$3,101$1,751$942$489$247$75
49 years$3,003$1,672$886$452$225$66
50 years$2,910$1,598$833$418$204$58

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $2,980,000, adding $5,664 every year, while hoping to spend $37,370 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: 53/21/26 Blend
79$2,980,000$2,980,000$2,980,000$2,980,000
80$3,289,802$3,131,862$3,085,672$3,440,084
81$3,585,601$3,245,562$3,149,281$3,658,319
82$3,910,318$3,363,581$3,213,768$3,891,392
83$4,266,865$3,486,091$3,279,124$4,144,280
84$4,658,447$3,613,271$3,345,336$4,418,893
85$5,088,595$3,745,308$3,412,391$4,717,331
86$5,561,201$3,882,397$3,480,276$5,041,905
87$6,080,550$4,024,741$3,548,971$5,395,159
88$6,651,364$4,172,551$3,618,460$5,779,892
89$7,278,845$4,326,048$3,688,720$6,199,186
90$7,968,723$4,485,460$3,759,728$6,656,431
91$8,727,314$4,651,029$3,831,460$7,155,363
92$9,561,572$4,823,002$3,903,886$7,700,090
93$10,479,164$5,001,640$3,976,978$8,295,140
94$11,488,533$5,187,214$4,050,700$8,945,495
95$12,598,982$5,380,007$4,125,018$9,656,642
96$13,820,764$5,580,314$4,199,892$10,434,622
97$15,165,174$5,788,440$4,275,280$11,286,089
98$16,644,656$6,004,708$4,351,137$12,218,371
99$18,272,923$6,229,451$4,427,412$13,239,536
100$20,065,085$6,463,018$4,504,054$14,358,473