Can I retire at age 80 with 964,000?

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 $964,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$79,606$78,897$78,205$77,530$76,871$76,036
2 years$39,409$38,675$37,964$37,274$36,605$35,765
3 years$26,012$25,275$24,565$23,882$23,224$22,404
4 years$19,314$18,579$17,877$17,206$16,563$15,770
5 years$15,297$14,567$13,873$13,215$12,591$11,827
6 years$12,620$11,895$11,212$10,569$9,963$9,229
7 years$10,708$9,989$9,317$8,689$8,103$7,399
8 years$9,275$8,563$7,902$7,289$6,722$6,048
9 years$8,161$7,455$6,806$6,209$5,661$5,017
10 years$7,270$6,571$5,933$5,352$4,823$4,209
11 years$6,542$5,850$5,224$4,658$4,148$3,563
12 years$5,935$5,251$4,636$4,085$3,595$3,038
13 years$5,423$4,745$4,142$3,607$3,135$2,605
14 years$4,984$4,313$3,721$3,202$2,748$2,245
15 years$4,603$3,940$3,360$2,855$2,419$1,943
16 years$4,271$3,615$3,046$2,557$2,138$1,687
17 years$3,978$3,329$2,772$2,297$1,896$1,470
18 years$3,718$3,076$2,530$2,070$1,686$1,283
19 years$3,485$2,851$2,317$1,871$1,503$1,123
20 years$3,276$2,650$2,126$1,694$1,342$984
21 years$3,088$2,468$1,955$1,538$1,201$864
22 years$2,916$2,304$1,802$1,398$1,077$760
23 years$2,760$2,155$1,664$1,273$966$669
24 years$2,617$2,019$1,539$1,161$869$589
25 years$2,485$1,894$1,425$1,061$782$520
26 years$2,364$1,781$1,322$970$704$459
27 years$2,252$1,676$1,228$888$635$405
28 years$2,149$1,579$1,141$813$573$358
29 years$2,052$1,490$1,062$746$517$317
30 years$1,962$1,407$989$684$467$280
31 years$1,878$1,330$922$629$422$248
32 years$1,800$1,258$860$578$382$220
33 years$1,726$1,192$803$531$346$195
34 years$1,657$1,129$751$489$313$173
35 years$1,592$1,071$702$450$284$153
36 years$1,531$1,017$657$414$257$136
37 years$1,473$966$614$382$233$120
38 years$1,419$918$575$352$211$107
39 years$1,367$873$539$324$191$95
40 years$1,318$830$505$299$174$84
41 years$1,271$790$474$276$158$74
42 years$1,227$753$444$255$143$66
43 years$1,185$717$417$235$130$59
44 years$1,145$684$392$217$118$52
45 years$1,107$652$368$201$107$46
46 years$1,071$622$345$185$97$41
47 years$1,036$593$324$171$88$36
48 years$1,003$567$305$158$80$32
49 years$972$541$287$146$73$29
50 years$941$517$269$135$66$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $964,000, adding $6,216 every year, while hoping to spend $23,682 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: 29/44/27 Blend
79$964,000$964,000$964,000$964,000
80$1,068,740$1,017,648$1,002,706$1,090,668
81$1,152,554$1,042,315$1,011,099$1,133,083
82$1,244,123$1,067,397$1,018,980$1,176,170
83$1,344,214$1,092,890$1,026,306$1,222,017
84$1,453,669$1,118,787$1,033,032$1,270,878
85$1,573,418$1,145,082$1,039,113$1,323,033
86$1,704,482$1,171,767$1,044,500$1,378,793
87$1,847,989$1,198,833$1,049,139$1,438,497
88$2,005,176$1,226,268$1,052,979$1,502,523
89$2,177,411$1,254,062$1,055,960$1,571,286
90$2,366,197$1,282,201$1,058,024$1,645,243
91$2,573,189$1,310,669$1,059,109$1,724,899
92$2,800,213$1,339,450$1,059,147$1,810,811
93$3,049,276$1,368,525$1,058,070$1,903,593
94$3,322,592$1,397,872$1,055,805$2,003,923
95$3,622,598$1,427,470$1,052,277$2,112,547
96$3,951,980$1,457,293$1,047,405$2,230,290
97$4,313,695$1,487,313$1,041,106$2,358,061
98$4,711,001$1,517,501$1,033,292$2,496,864
99$5,147,488$1,547,823$1,023,872$2,647,804
100$5,627,109$1,578,244$1,012,749$2,812,102