Can I retire at age 80 with 970,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$80,102$79,388$78,692$78,013$77,349$75,787
2 years$39,654$38,916$38,200$37,506$36,833$35,266
3 years$26,174$25,432$24,718$24,030$23,368$21,846
4 years$19,435$18,695$17,988$17,313$16,666$15,200
5 years$15,392$14,657$13,960$13,298$12,670$11,263
6 years$12,698$11,969$11,282$10,634$10,025$8,680
7 years$10,775$10,051$9,375$8,743$8,153$6,869
8 years$9,333$8,616$7,951$7,334$6,764$5,541
9 years$8,212$7,502$6,848$6,247$5,696$4,534
10 years$7,315$6,612$5,970$5,385$4,853$3,751
11 years$6,583$5,887$5,256$4,687$4,174$3,130
12 years$5,972$5,283$4,665$4,111$3,617$2,629
13 years$5,456$4,775$4,168$3,629$3,154$2,221
14 years$5,015$4,340$3,745$3,222$2,765$1,885
15 years$4,632$3,965$3,381$2,873$2,434$1,606
16 years$4,297$3,638$3,065$2,573$2,152$1,372
17 years$4,003$3,350$2,789$2,311$1,908$1,176
18 years$3,741$3,096$2,546$2,083$1,696$1,010
19 years$3,507$2,869$2,331$1,882$1,512$869
20 years$3,297$2,666$2,139$1,705$1,350$749
21 years$3,107$2,483$1,968$1,547$1,209$646
22 years$2,934$2,318$1,814$1,407$1,083$558
23 years$2,777$2,168$1,674$1,281$972$483
24 years$2,633$2,031$1,549$1,168$874$418
25 years$2,501$1,906$1,434$1,067$786$362
26 years$2,379$1,792$1,330$976$708$314
27 years$2,266$1,686$1,235$893$639$272
28 years$2,162$1,589$1,148$818$576$236
29 years$2,065$1,499$1,069$750$520$205
30 years$1,975$1,415$995$689$470$178
31 years$1,890$1,338$928$632$425$154
32 years$1,811$1,266$866$581$385$134
33 years$1,737$1,199$808$535$348$117
34 years$1,668$1,136$755$492$315$101
35 years$1,602$1,078$706$453$285$88
36 years$1,541$1,023$661$417$259$77
37 years$1,482$972$618$384$234$67
38 years$1,427$923$579$354$212$58
39 years$1,375$878$542$326$193$50
40 years$1,326$835$508$301$175$44
41 years$1,279$795$477$278$159$38
42 years$1,235$757$447$256$144$33
43 years$1,193$722$420$237$131$29
44 years$1,152$688$394$219$119$25
45 years$1,114$656$370$202$108$22
46 years$1,078$626$347$186$98$19
47 years$1,043$597$326$172$89$17
48 years$1,009$570$307$159$81$14
49 years$978$544$288$147$73$13
50 years$947$520$271$136$66$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $970,000, adding $3,647 every year, while hoping to spend $54,214 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: 43/40/17 Blend
79$970,000$970,000$970,000$970,000
80$1,072,702$1,021,292$1,006,257$1,113,379
81$1,124,434$1,013,652$982,283$1,134,724
82$1,179,626$1,003,821$955,689$1,152,205
83$1,238,573$991,633$926,330$1,169,996
84$1,301,600$976,915$894,055$1,188,149
85$1,369,061$959,482$858,703$1,206,728
86$1,441,346$939,138$820,111$1,225,806
87$1,518,883$915,675$778,104$1,245,469
88$1,602,139$888,873$732,501$1,265,814
89$1,691,631$858,501$683,112$1,286,955
90$1,787,921$824,312$629,741$1,309,021
91$1,891,631$786,045$572,179$1,332,161
92$2,003,442$743,425$510,212$1,356,545
93$2,124,102$696,162$443,612$1,382,365
94$2,254,432$643,946$372,146$1,409,839
95$2,395,337$586,453$295,566$1,439,218
96$2,547,810$523,337$213,615$1,470,780
97$2,712,941$454,235$126,026$1,504,846
98$2,891,931$378,763$32,518$1,541,771
99$3,086,100$296,514$0$1,581,961
100$3,296,899$207,059$0$1,638,072