Can I retire at age 80 with 941,000?

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 $941,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$77,707$77,015$76,339$75,680$75,037$74,470
2 years$38,469$37,752$37,058$36,385$35,732$35,161
3 years$25,391$24,672$23,979$23,312$22,670$22,112
4 years$18,854$18,136$17,451$16,795$16,168$15,627
5 years$14,932$14,219$13,542$12,900$12,291$11,769
6 years$12,319$11,611$10,944$10,316$9,725$9,223
7 years$10,453$9,751$9,095$8,482$7,909$7,427
8 years$9,054$8,358$7,713$7,115$6,562$6,099
9 years$7,966$7,277$6,643$6,060$5,526$5,083
10 years$7,097$6,415$5,792$5,224$4,708$4,285
11 years$6,386$5,711$5,099$4,547$4,049$3,645
12 years$5,794$5,125$4,525$3,988$3,509$3,124
13 years$5,293$4,632$4,043$3,521$3,060$2,693
14 years$4,865$4,210$3,633$3,125$2,682$2,333
15 years$4,493$3,846$3,280$2,787$2,362$2,030
16 years$4,169$3,529$2,974$2,496$2,087$1,773
17 years$3,883$3,250$2,706$2,242$1,851$1,552
18 years$3,629$3,003$2,470$2,021$1,646$1,363
19 years$3,402$2,783$2,261$1,826$1,467$1,200
20 years$3,198$2,586$2,075$1,654$1,310$1,058
21 years$3,014$2,409$1,909$1,501$1,172$934
22 years$2,847$2,249$1,759$1,365$1,051$826
23 years$2,694$2,103$1,624$1,243$943$732
24 years$2,554$1,971$1,502$1,134$848$649
25 years$2,426$1,849$1,391$1,035$763$576
26 years$2,308$1,738$1,290$947$687$512
27 years$2,199$1,636$1,198$866$620$455
28 years$2,097$1,541$1,114$794$559$405
29 years$2,003$1,454$1,037$728$505$360
30 years$1,915$1,373$966$668$456$321
31 years$1,834$1,298$900$614$412$286
32 years$1,757$1,228$840$564$373$255
33 years$1,685$1,163$784$519$338$227
34 years$1,618$1,102$733$477$306$203
35 years$1,554$1,046$685$439$277$181
36 years$1,495$992$641$404$251$161
37 years$1,438$943$600$373$227$144
38 years$1,385$896$562$344$206$129
39 years$1,334$852$526$317$187$115
40 years$1,286$810$493$292$170$103
41 years$1,241$771$463$270$154$92
42 years$1,198$735$434$249$140$82
43 years$1,157$700$407$230$127$73
44 years$1,118$667$382$212$115$65
45 years$1,081$636$359$196$104$58
46 years$1,045$607$337$181$95$52
47 years$1,012$579$317$167$86$47
48 years$979$553$298$154$78$42
49 years$948$528$280$143$71$37
50 years$919$504$263$132$64$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $941,000, adding $2,458 every year, while hoping to spend $43,740 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: 31/49/20 Blend
79$941,000$941,000$941,000$941,000
80$1,039,517$989,644$975,059$1,065,194
81$1,099,009$991,598$961,184$1,086,712
82$1,163,103$992,181$945,379$1,105,732
83$1,232,222$991,281$927,532$1,125,287
84$1,306,832$988,777$907,527$1,145,451
85$1,387,443$984,541$885,244$1,166,306
86$1,474,617$978,438$860,554$1,187,949
87$1,568,971$970,324$833,325$1,210,490
88$1,671,182$960,047$803,418$1,234,054
89$1,781,998$947,445$770,688$1,258,781
90$1,902,239$932,346$734,983$1,284,834
91$2,032,806$914,570$696,144$1,312,393
92$2,174,692$893,923$654,004$1,341,666
93$2,328,988$870,203$608,391$1,372,885
94$2,496,895$843,193$559,122$1,406,311
95$2,679,735$812,667$506,010$1,442,240
96$2,878,962$778,381$448,854$1,481,004
97$3,096,175$740,081$387,450$1,522,975
98$3,333,136$697,496$321,581$1,568,571
99$3,591,784$650,341$251,022$1,618,263
100$3,874,251$598,313$175,537$1,672,573