Can I retire at age 80 with 956,000?

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 $956,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$78,946$78,242$77,556$76,887$76,233$75,657
2 years$39,082$38,354$37,649$36,965$36,301$35,721
3 years$25,796$25,065$24,361$23,684$23,031$22,464
4 years$19,154$18,425$17,729$17,063$16,426$15,877
5 years$15,170$14,446$13,758$13,106$12,487$11,957
6 years$12,515$11,796$11,119$10,481$9,880$9,370
7 years$10,619$9,906$9,240$8,617$8,035$7,545
8 years$9,198$8,491$7,836$7,228$6,666$6,196
9 years$8,093$7,393$6,749$6,157$5,614$5,164
10 years$7,210$6,517$5,884$5,307$4,783$4,353
11 years$6,488$5,802$5,180$4,619$4,114$3,703
12 years$5,886$5,207$4,597$4,052$3,565$3,173
13 years$5,378$4,706$4,107$3,577$3,109$2,736
14 years$4,942$4,277$3,691$3,175$2,725$2,370
15 years$4,565$3,908$3,332$2,832$2,399$2,062
16 years$4,235$3,585$3,021$2,535$2,121$1,801
17 years$3,945$3,302$2,749$2,278$1,880$1,577
18 years$3,687$3,051$2,509$2,053$1,672$1,385
19 years$3,456$2,828$2,297$1,855$1,490$1,219
20 years$3,249$2,628$2,108$1,680$1,331$1,075
21 years$3,062$2,447$1,939$1,525$1,191$949
22 years$2,892$2,285$1,787$1,386$1,068$840
23 years$2,737$2,137$1,650$1,263$958$744
24 years$2,595$2,002$1,526$1,152$861$659
25 years$2,465$1,879$1,414$1,052$775$585
26 years$2,345$1,766$1,311$962$698$520
27 years$2,234$1,662$1,217$880$630$462
28 years$2,131$1,566$1,132$806$568$411
29 years$2,035$1,477$1,053$740$513$366
30 years$1,946$1,395$981$679$463$326
31 years$1,863$1,319$915$623$419$290
32 years$1,785$1,248$853$573$379$259
33 years$1,712$1,182$797$527$343$231
34 years$1,644$1,120$744$485$311$206
35 years$1,579$1,062$696$446$281$184
36 years$1,518$1,008$651$411$255$164
37 years$1,461$958$609$379$231$146
38 years$1,407$910$571$349$209$131
39 years$1,356$865$535$322$190$117
40 years$1,307$823$501$297$172$104
41 years$1,261$784$470$274$156$93
42 years$1,217$746$441$253$142$83
43 years$1,175$711$414$233$129$74
44 years$1,136$678$388$215$117$66
45 years$1,098$646$365$199$106$59
46 years$1,062$617$342$184$96$53
47 years$1,028$589$322$170$87$47
48 years$995$562$302$157$79$42
49 years$963$537$284$145$72$38
50 years$933$513$267$134$65$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $956,000, adding $4,144 every year, while hoping to spend $34,318 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: 55/28/17 Blend
79$956,000$956,000$956,000$956,000
80$1,057,787$1,007,119$992,301$1,110,955
81$1,129,167$1,019,953$989,029$1,160,493
82$1,206,677$1,032,267$984,497$1,210,380
83$1,290,908$1,043,997$978,627$1,263,936
84$1,382,506$1,055,078$971,336$1,321,520
85$1,482,185$1,065,440$962,539$1,383,528
86$1,590,729$1,075,008$952,145$1,450,399
87$1,709,001$1,083,701$940,060$1,522,615
88$1,837,951$1,091,435$926,184$1,600,711
89$1,978,626$1,098,119$910,415$1,685,274
90$2,132,175$1,103,656$892,643$1,776,955
91$2,299,865$1,107,944$872,756$1,876,473
92$2,483,092$1,110,874$850,633$1,984,618
93$2,683,390$1,112,329$826,152$2,102,267
94$2,902,450$1,112,187$799,182$2,230,385
95$3,142,132$1,110,316$769,587$2,370,037
96$3,404,486$1,106,579$737,225$2,522,401
97$3,691,769$1,100,826$701,947$2,688,773
98$4,006,465$1,092,903$663,598$2,870,589
99$4,351,312$1,082,642$622,016$3,069,428
100$4,729,323$1,069,869$577,031$3,287,037