Can I retire at age 80 with 960,000?

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 $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%15.2%
1 years$79,276$78,570$77,881$77,208$76,552$74,914
2 years$39,245$38,515$37,806$37,119$36,453$34,811
3 years$25,904$25,170$24,463$23,783$23,127$21,533
4 years$19,234$18,502$17,803$17,134$16,495$14,959
5 years$15,234$14,506$13,816$13,161$12,539$11,067
6 years$12,567$11,845$11,165$10,525$9,922$8,515
7 years$10,664$9,948$9,278$8,653$8,069$6,728
8 years$9,236$8,527$7,869$7,259$6,694$5,418
9 years$8,127$7,424$6,777$6,183$5,637$4,425
10 years$7,240$6,544$5,909$5,330$4,803$3,654
11 years$6,515$5,826$5,202$4,638$4,131$3,043
12 years$5,911$5,229$4,617$4,068$3,580$2,551
13 years$5,400$4,725$4,125$3,592$3,122$2,151
14 years$4,963$4,295$3,706$3,188$2,736$1,822
15 years$4,584$3,924$3,346$2,844$2,409$1,549
16 years$4,253$3,600$3,034$2,546$2,129$1,321
17 years$3,961$3,316$2,760$2,288$1,888$1,129
18 years$3,702$3,064$2,520$2,062$1,679$968
19 years$3,471$2,839$2,307$1,863$1,496$831
20 years$3,263$2,639$2,117$1,687$1,337$714
21 years$3,075$2,458$1,947$1,531$1,196$615
22 years$2,904$2,294$1,795$1,392$1,072$530
23 years$2,748$2,146$1,657$1,268$962$457
24 years$2,606$2,010$1,533$1,156$865$395
25 years$2,475$1,887$1,420$1,056$778$341
26 years$2,354$1,773$1,317$966$701$295
27 years$2,243$1,669$1,223$884$632$255
28 years$2,140$1,572$1,136$810$570$221
29 years$2,044$1,483$1,058$743$515$191
30 years$1,954$1,401$985$682$465$166
31 years$1,871$1,324$918$626$421$143
32 years$1,792$1,253$857$575$381$124
33 years$1,719$1,187$800$529$344$108
34 years$1,650$1,125$748$487$312$93
35 years$1,586$1,067$699$448$282$81
36 years$1,525$1,013$654$413$256$70
37 years$1,467$962$612$380$232$61
38 years$1,413$914$573$350$210$53
39 years$1,361$869$537$323$191$46
40 years$1,312$827$503$298$173$40
41 years$1,266$787$472$275$157$35
42 years$1,222$750$443$254$142$30
43 years$1,180$714$415$234$129$26
44 years$1,141$681$390$216$117$23
45 years$1,103$649$366$200$106$20
46 years$1,067$619$344$185$97$17
47 years$1,032$591$323$170$88$15
48 years$999$564$304$158$80$13
49 years$967$539$285$146$72$11
50 years$937$515$268$135$66$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $960,000, adding $4,434 every year, while hoping to spend $37,156 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: 35/47/18 Blend
79$960,000$960,000$960,000$960,000
80$1,062,494$1,011,614$996,734$1,093,686
81$1,131,334$1,021,649$990,591$1,126,899
82$1,205,951$1,030,931$982,996$1,158,923
83$1,286,895$1,039,383$973,863$1,192,694
84$1,374,770$1,046,924$963,099$1,228,389
85$1,470,241$1,053,468$950,608$1,266,203
86$1,574,040$1,058,923$936,288$1,306,355
87$1,686,973$1,063,191$920,034$1,349,088
88$1,809,925$1,066,168$901,736$1,394,672
89$1,943,871$1,067,744$881,278$1,443,406
90$2,089,883$1,067,801$858,538$1,495,624
91$2,249,143$1,066,214$833,390$1,551,696
92$2,422,948$1,062,852$805,702$1,612,035
93$2,612,730$1,057,573$775,334$1,677,095
94$2,820,064$1,050,228$742,143$1,747,385
95$3,046,681$1,040,661$705,975$1,823,467
96$3,294,491$1,028,701$666,674$1,905,964
97$3,565,595$1,014,173$624,073$1,995,569
98$3,862,305$996,888$578,000$2,093,050
99$4,187,171$976,646$528,273$2,199,256
100$4,542,996$953,235$474,704$2,315,132