Can I retire at age 80 with 974,000?

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 $974,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$80,432$79,716$79,017$78,334$77,668$76,038
2 years$39,818$39,076$38,358$37,661$36,985$35,350
3 years$26,282$25,537$24,820$24,130$23,465$21,876
4 years$19,515$18,772$18,063$17,384$16,735$15,206
5 years$15,456$14,718$14,017$13,353$12,722$11,255
6 years$12,751$12,018$11,328$10,678$10,066$8,664
7 years$10,819$10,093$9,414$8,779$8,187$6,850
8 years$9,371$8,651$7,984$7,365$6,792$5,519
9 years$8,246$7,533$6,876$6,273$5,720$4,511
10 years$7,346$6,640$5,995$5,407$4,873$3,727
11 years$6,610$5,911$5,278$4,706$4,191$3,106
12 years$5,997$5,305$4,684$4,128$3,632$2,606
13 years$5,479$4,794$4,185$3,644$3,167$2,198
14 years$5,035$4,358$3,760$3,235$2,776$1,863
15 years$4,651$3,981$3,395$2,885$2,445$1,585
16 years$4,315$3,653$3,078$2,583$2,160$1,353
17 years$4,019$3,364$2,801$2,321$1,916$1,157
18 years$3,756$3,108$2,557$2,092$1,703$992
19 years$3,521$2,881$2,341$1,890$1,518$852
20 years$3,310$2,677$2,148$1,712$1,356$733
21 years$3,120$2,494$1,976$1,554$1,214$632
22 years$2,946$2,328$1,821$1,413$1,088$545
23 years$2,788$2,177$1,681$1,286$976$471
24 years$2,644$2,040$1,555$1,173$878$407
25 years$2,511$1,914$1,440$1,072$790$352
26 years$2,389$1,799$1,336$980$711$304
27 years$2,276$1,693$1,240$897$641$264
28 years$2,171$1,595$1,153$822$579$228
29 years$2,073$1,505$1,073$753$523$198
30 years$1,983$1,421$999$691$472$171
31 years$1,898$1,344$932$635$427$149
32 years$1,819$1,271$869$584$386$129
33 years$1,744$1,204$812$537$349$112
34 years$1,674$1,141$758$494$316$97
35 years$1,609$1,082$709$455$287$84
36 years$1,547$1,027$663$419$260$73
37 years$1,489$976$621$386$235$63
38 years$1,433$927$581$356$213$55
39 years$1,381$882$545$328$193$48
40 years$1,332$839$511$302$175$42
41 years$1,285$799$479$279$159$36
42 years$1,240$761$449$257$144$31
43 years$1,198$725$421$238$131$27
44 years$1,157$691$396$219$119$24
45 years$1,119$659$371$203$108$21
46 years$1,082$628$349$187$98$18
47 years$1,047$600$328$173$89$15
48 years$1,014$572$308$160$81$13
49 years$982$547$289$148$73$12
50 years$951$522$272$137$67$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $974,000, adding $4,404 every year, while hoping to spend $45,625 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: 67/28/5 Blend
79$974,000$974,000$974,000$974,000
80$1,077,891$1,026,269$1,011,172$1,149,157
81$1,139,291$1,028,011$996,501$1,198,691
82$1,205,425$1,028,310$979,810$1,246,873
83$1,276,727$1,027,046$960,983$1,298,306
84$1,353,675$1,024,093$939,898$1,353,300
85$1,436,793$1,019,317$916,428$1,412,194
86$1,526,659$1,012,576$890,441$1,475,368
87$1,623,905$1,003,719$861,797$1,543,236
88$1,729,228$992,587$830,352$1,616,260
89$1,843,394$979,008$795,954$1,694,947
90$1,967,246$962,805$758,444$1,779,858
91$2,101,709$943,786$717,655$1,871,612
92$2,247,801$921,750$673,415$1,970,894
93$2,406,645$896,484$625,542$2,078,460
94$2,579,472$867,760$573,847$2,195,143
95$2,767,638$835,341$518,132$2,321,864
96$2,972,637$798,973$458,189$2,459,641
97$3,196,111$758,387$393,803$2,609,597
98$3,439,868$713,302$324,749$2,772,971
99$3,705,897$663,416$250,791$2,951,134
100$3,996,389$608,414$171,682$3,145,596