Can I retire at age 80 with 966,000?

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 $966,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$79,771$79,061$78,368$77,691$77,030$76,321
2 years$39,491$38,755$38,043$37,351$36,681$35,967
3 years$26,066$25,327$24,616$23,931$23,272$22,574
4 years$19,354$18,618$17,914$17,241$16,598$15,922
5 years$15,329$14,597$13,902$13,243$12,617$11,966
6 years$12,646$11,919$11,235$10,590$9,984$9,357
7 years$10,730$10,010$9,336$8,707$8,119$7,518
8 years$9,294$8,580$7,918$7,304$6,736$6,160
9 years$8,178$7,471$6,820$6,221$5,673$5,122
10 years$7,285$6,585$5,946$5,363$4,833$4,307
11 years$6,555$5,862$5,234$4,667$4,157$3,655
12 years$5,948$5,262$4,645$4,094$3,602$3,124
13 years$5,434$4,755$4,150$3,614$3,141$2,687
14 years$4,994$4,322$3,729$3,208$2,754$2,322
15 years$4,613$3,948$3,367$2,861$2,424$2,015
16 years$4,280$3,623$3,053$2,562$2,143$1,754
17 years$3,986$3,336$2,778$2,302$1,900$1,532
18 years$3,725$3,083$2,536$2,075$1,689$1,341
19 years$3,493$2,857$2,321$1,874$1,506$1,177
20 years$3,283$2,655$2,130$1,698$1,345$1,035
21 years$3,094$2,473$1,960$1,541$1,204$911
22 years$2,922$2,308$1,806$1,401$1,079$804
23 years$2,766$2,159$1,668$1,276$968$710
24 years$2,622$2,023$1,542$1,164$870$627
25 years$2,490$1,898$1,428$1,063$783$555
26 years$2,369$1,784$1,325$972$706$492
27 years$2,257$1,679$1,230$889$636$436
28 years$2,153$1,582$1,144$815$574$386
29 years$2,056$1,493$1,064$747$518$343
30 years$1,966$1,410$991$686$468$304
31 years$1,882$1,333$924$630$423$270
32 years$1,804$1,261$862$579$383$240
33 years$1,730$1,194$805$532$347$213
34 years$1,661$1,132$752$490$314$190
35 years$1,596$1,073$703$451$284$169
36 years$1,534$1,019$658$415$258$150
37 years$1,476$968$616$383$233$133
38 years$1,422$920$577$353$212$119
39 years$1,370$874$540$325$192$106
40 years$1,321$832$506$300$174$94
41 years$1,274$792$475$277$158$84
42 years$1,230$754$445$255$143$75
43 years$1,188$719$418$236$130$66
44 years$1,148$685$392$218$118$59
45 years$1,110$653$368$201$107$53
46 years$1,073$623$346$186$97$47
47 years$1,038$595$325$172$88$42
48 years$1,005$568$305$159$80$37
49 years$974$542$287$146$73$33
50 years$943$518$270$135$66$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $966,000, adding $6,759 every year, while hoping to spend $55,655 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: 44/50/6 Blend
79$966,000$966,000$966,000$966,000
80$1,071,504$1,020,306$1,005,333$1,116,544
81$1,121,581$1,011,084$979,795$1,139,130
82$1,174,900$999,546$951,536$1,157,313
83$1,231,734$985,518$920,407$1,175,720
84$1,292,381$968,817$886,250$1,194,390
85$1,357,166$949,252$848,902$1,213,371
86$1,426,447$926,616$808,190$1,232,718
87$1,500,617$900,692$763,937$1,252,496
88$1,580,105$871,251$715,954$1,272,782
89$1,665,384$838,051$664,047$1,293,664
90$1,756,970$800,832$608,010$1,315,248
91$1,855,433$759,325$547,629$1,337,651
92$1,961,395$713,239$482,683$1,361,013
93$2,075,541$662,272$412,937$1,385,490
94$2,198,624$606,101$338,148$1,411,264
95$2,331,470$544,386$258,062$1,438,542
96$2,474,987$476,768$172,414$1,467,559
97$2,630,172$402,866$80,926$1,498,583
98$2,798,122$322,279$0$1,531,916
99$2,980,042$234,583$0$1,568,973
100$3,177,259$139,330$0$1,614,669