Can I retire at age 80 with 1,980,000?

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$163,507$162,050$160,629$159,242$157,888$154,448
2 years$80,944$79,436$77,975$76,559$75,185$71,736
3 years$53,427$51,913$50,455$49,052$47,700$44,351
4 years$39,671$38,161$36,718$35,339$34,020$30,796
5 years$31,419$29,919$28,495$27,144$25,862$22,771
6 years$25,920$24,431$23,028$21,707$20,463$17,511
7 years$21,994$20,517$19,137$17,847$16,642$13,827
8 years$19,050$17,587$16,229$14,971$13,806$11,128
9 years$16,762$15,313$13,978$12,752$11,627$9,084
10 years$14,932$13,497$12,187$10,992$9,907$7,496
11 years$13,437$12,016$10,729$9,567$8,520$6,239
12 years$12,191$10,785$9,522$8,391$7,383$5,228
13 years$11,138$9,746$8,507$7,408$6,438$4,405
14 years$10,236$8,859$7,644$6,576$5,644$3,728
15 years$9,455$8,093$6,901$5,865$4,969$3,167
16 years$8,772$7,425$6,257$5,251$4,392$2,699
17 years$8,170$6,838$5,693$4,718$3,894$2,306
18 years$7,636$6,319$5,197$4,252$3,463$1,974
19 years$7,159$5,856$4,758$3,842$3,086$1,693
20 years$6,729$5,442$4,367$3,480$2,757$1,455
21 years$6,342$5,069$4,016$3,158$2,467$1,252
22 years$5,989$4,732$3,702$2,871$2,211$1,078
23 years$5,668$4,425$3,418$2,615$1,985$929
24 years$5,375$4,146$3,161$2,385$1,784$802
25 years$5,105$3,891$2,928$2,178$1,605$692
26 years$4,856$3,657$2,715$1,992$1,446$598
27 years$4,626$3,442$2,521$1,823$1,304$517
28 years$4,413$3,243$2,344$1,670$1,176$447
29 years$4,215$3,059$2,181$1,532$1,062$387
30 years$4,030$2,889$2,032$1,406$960$335
31 years$3,858$2,731$1,894$1,291$868$290
32 years$3,697$2,584$1,767$1,186$785$251
33 years$3,546$2,448$1,650$1,091$710$217
34 years$3,404$2,320$1,542$1,004$643$188
35 years$3,270$2,200$1,441$924$583$163
36 years$3,145$2,088$1,348$851$528$141
37 years$3,026$1,983$1,262$784$478$122
38 years$2,914$1,885$1,182$723$434$106
39 years$2,808$1,792$1,107$666$393$92
40 years$2,707$1,705$1,038$615$357$80
41 years$2,612$1,623$973$567$324$69
42 years$2,521$1,546$913$523$294$60
43 years$2,435$1,473$857$483$267$52
44 years$2,353$1,404$804$446$242$45
45 years$2,274$1,339$755$412$220$39
46 years$2,200$1,277$709$381$199$34
47 years$2,129$1,219$666$352$181$29
48 years$2,060$1,164$626$325$164$25
49 years$1,995$1,111$588$300$149$22
50 years$1,933$1,061$553$278$136$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $1,980,000, adding $4,976 every year, while hoping to spend $37,690 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: 39/45/16 Blend
79$1,980,000$1,980,000$1,980,000$1,980,000
80$2,187,093$2,082,153$2,051,463$2,261,734
81$2,370,074$2,144,076$2,080,085$2,377,379
82$2,570,457$2,207,771$2,108,403$2,498,334
83$2,789,975$2,273,284$2,136,366$2,628,316
84$3,030,541$2,340,663$2,163,922$2,768,159
85$3,294,257$2,409,956$2,191,015$2,918,782
86$3,583,443$2,481,216$2,217,586$3,081,196
87$3,900,651$2,554,492$2,243,571$3,256,512
88$4,248,692$2,629,837$2,268,905$3,445,951
89$4,630,664$2,707,304$2,293,519$3,650,859
90$5,049,978$2,786,948$2,317,338$3,872,715
91$5,510,392$2,868,825$2,340,286$4,113,149
92$6,016,046$2,952,991$2,362,279$4,373,952
93$6,571,499$3,039,505$2,383,232$4,657,098
94$7,181,777$3,128,425$2,403,055$4,964,759
95$7,852,412$3,219,812$2,421,651$5,299,325
96$8,589,502$3,313,726$2,438,920$5,663,431
97$9,399,763$3,410,231$2,454,756$6,059,974
98$10,290,596$3,509,390$2,469,048$6,492,147
99$11,270,154$3,611,267$2,481,679$6,963,465
100$12,347,420$3,715,929$2,492,525$7,477,800