Can I retire at age 80 with 985,000?

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 $985,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$81,340$80,616$79,909$79,219$78,545$78,149
2 years$40,268$39,518$38,791$38,086$37,403$37,002
3 years$26,578$25,825$25,100$24,402$23,730$23,338
4 years$19,735$18,984$18,267$17,580$16,924$16,544
5 years$15,630$14,884$14,176$13,503$12,866$12,499
6 years$12,895$12,154$11,456$10,799$10,180$9,826
7 years$10,941$10,207$9,520$8,878$8,279$7,939
8 years$9,477$8,749$8,074$7,448$6,868$6,542
9 years$8,339$7,618$6,954$6,344$5,784$5,471
10 years$7,429$6,715$6,063$5,468$4,928$4,629
11 years$6,684$5,978$5,337$4,759$4,239$3,952
12 years$6,065$5,365$4,737$4,174$3,673$3,399
13 years$5,541$4,849$4,232$3,685$3,203$2,942
14 years$5,092$4,407$3,802$3,271$2,808$2,559
15 years$4,704$4,026$3,433$2,918$2,472$2,235
16 years$4,364$3,694$3,113$2,612$2,185$1,960
17 years$4,065$3,402$2,832$2,347$1,937$1,724
18 years$3,799$3,143$2,586$2,115$1,723$1,520
19 years$3,561$2,913$2,367$1,911$1,535$1,343
20 years$3,348$2,707$2,172$1,731$1,371$1,190
21 years$3,155$2,522$1,998$1,571$1,227$1,055
22 years$2,980$2,354$1,842$1,428$1,100$938
23 years$2,820$2,202$1,700$1,301$987$834
24 years$2,674$2,063$1,573$1,187$888$743
25 years$2,539$1,936$1,456$1,084$799$663
26 years$2,416$1,819$1,351$991$719$591
27 years$2,301$1,712$1,254$907$649$528
28 years$2,195$1,613$1,166$831$585$472
29 years$2,097$1,522$1,085$762$528$422
30 years$2,005$1,437$1,011$699$477$378
31 years$1,919$1,359$942$642$432$338
32 years$1,839$1,286$879$590$391$303
33 years$1,764$1,218$821$543$353$272
34 years$1,693$1,154$767$499$320$243
35 years$1,627$1,095$717$460$290$218
36 years$1,564$1,039$671$423$263$196
37 years$1,505$987$628$390$238$176
38 years$1,450$938$588$360$216$158
39 years$1,397$892$551$332$196$142
40 years$1,347$848$516$306$177$127
41 years$1,299$808$484$282$161$114
42 years$1,254$769$454$260$146$103
43 years$1,211$733$426$240$133$92
44 years$1,170$698$400$222$120$83
45 years$1,131$666$376$205$109$74
46 years$1,094$635$353$189$99$67
47 years$1,059$606$331$175$90$60
48 years$1,025$579$311$162$82$54
49 years$993$553$293$149$74$48
50 years$962$528$275$138$67$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $985,000, adding $5,120 every year, while hoping to spend $55,944 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: 66/28/6 Blend
79$985,000$985,000$985,000$985,000
80$1,090,751$1,038,546$1,023,279$1,161,382
81$1,142,484$1,029,911$998,035$1,200,288
82$1,197,618$1,018,978$970,070$1,235,599
83$1,256,442$1,005,575$939,234$1,272,695
84$1,319,271$989,520$905,370$1,311,742
85$1,386,451$970,620$868,314$1,352,925
86$1,458,361$948,672$827,894$1,396,449
87$1,535,415$923,459$783,931$1,442,543
88$1,618,071$894,752$736,236$1,491,458
89$1,706,828$862,309$684,614$1,543,476
90$1,802,236$825,873$628,859$1,598,908
91$1,904,896$785,172$568,758$1,658,099
92$2,015,470$739,921$504,087$1,721,433
93$2,134,686$689,815$434,612$1,789,335
94$2,263,342$634,534$360,089$1,862,277
95$2,402,314$573,737$280,263$1,940,780
96$2,552,567$507,068$194,869$2,025,425
97$2,715,161$434,145$103,628$2,116,853
98$2,891,259$354,570$6,251$2,215,778
99$3,082,142$267,919$0$2,322,986
100$3,289,218$173,745$0$2,445,604