Can I retire at age 71 with 1,280,000?

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 $1,280,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$105,701$104,760$103,841$102,944$102,069$100,254
2 years$52,327$51,353$50,408$49,493$48,604$46,782
3 years$34,538$33,560$32,618$31,710$30,837$29,064
4 years$25,646$24,670$23,737$22,846$21,993$20,283
5 years$20,311$19,341$18,421$17,548$16,719$15,077
6 years$16,756$15,794$14,887$14,033$13,229$11,657
7 years$14,218$13,264$12,371$11,537$10,759$9,257
8 years$12,315$11,369$10,492$9,678$8,925$7,493
9 years$10,836$9,899$9,036$8,244$7,516$6,154
10 years$9,653$8,726$7,878$7,106$6,404$5,109
11 years$8,686$7,768$6,936$6,185$5,508$4,279
12 years$7,881$6,972$6,155$5,425$4,773$3,609
13 years$7,200$6,301$5,499$4,789$4,162$3,061
14 years$6,617$5,727$4,941$4,251$3,649$2,609
15 years$6,112$5,232$4,461$3,791$3,212$2,231
16 years$5,671$4,800$4,045$3,395$2,839$1,915
17 years$5,282$4,421$3,681$3,050$2,517$1,648
18 years$4,936$4,085$3,360$2,749$2,238$1,421
19 years$4,628$3,786$3,076$2,484$1,995$1,228
20 years$4,350$3,518$2,823$2,250$1,782$1,063
21 years$4,100$3,277$2,596$2,042$1,595$922
22 years$3,872$3,059$2,393$1,856$1,429$800
23 years$3,664$2,861$2,210$1,691$1,283$695
24 years$3,475$2,680$2,043$1,542$1,153$604
25 years$3,300$2,515$1,893$1,408$1,038$526
26 years$3,139$2,364$1,755$1,288$935$458
27 years$2,991$2,225$1,630$1,179$843$399
28 years$2,853$2,097$1,515$1,080$761$348
29 years$2,725$1,978$1,410$990$687$304
30 years$2,606$1,868$1,313$909$621$265
31 years$2,494$1,766$1,225$835$561$231
32 years$2,390$1,671$1,142$767$507$202
33 years$2,292$1,582$1,067$705$459$176
34 years$2,201$1,500$997$649$416$154
35 years$2,114$1,422$932$597$377$135
36 years$2,033$1,350$872$550$341$118
37 years$1,956$1,282$816$507$309$103
38 years$1,884$1,219$764$467$280$90
39 years$1,815$1,159$716$431$254$79
40 years$1,750$1,102$671$397$231$69
41 years$1,688$1,049$629$367$209$60
42 years$1,630$999$590$338$190$52
43 years$1,574$952$554$312$172$46
44 years$1,521$908$520$288$156$40
45 years$1,470$866$488$266$142$35
46 years$1,422$826$458$246$129$31
47 years$1,376$788$431$227$117$27
48 years$1,332$752$405$210$106$23
49 years$1,290$718$380$194$97$21
50 years$1,250$686$358$179$88$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,280,000, adding $6,744 every year, while hoping to spend $40,868 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: 61/17/22 Blend
70$1,280,000$1,280,000$1,280,000$1,280,000
71$1,417,516$1,349,676$1,329,836$1,495,394
72$1,518,620$1,372,327$1,330,903$1,571,569
73$1,628,666$1,394,718$1,330,635$1,649,584
74$1,748,524$1,416,794$1,328,945$1,733,817
75$1,879,151$1,438,494$1,325,742$1,824,882
76$2,021,597$1,459,753$1,320,928$1,923,451
77$2,177,023$1,480,504$1,314,402$2,030,269
78$2,346,703$1,500,672$1,306,058$2,146,155
79$2,532,040$1,520,179$1,295,784$2,272,014
80$2,734,580$1,538,939$1,283,465$2,408,842
81$2,956,024$1,556,863$1,268,977$2,557,740
82$3,198,243$1,573,855$1,252,193$2,719,920
83$3,463,302$1,589,812$1,232,979$2,896,720
84$3,753,470$1,604,624$1,211,195$3,089,616
85$4,071,248$1,618,174$1,186,694$3,300,233
86$4,419,389$1,630,339$1,159,322$3,530,366
87$4,800,926$1,640,985$1,128,919$3,781,993
88$5,219,199$1,649,971$1,095,316$4,057,297
89$5,677,886$1,657,149$1,058,338$4,358,683
90$6,181,038$1,662,357$1,017,800$4,688,804
91$6,733,118$1,665,427$973,511$5,050,587
92$7,339,042$1,666,178$925,269$5,447,259
93$8,004,222$1,664,418$872,863$5,882,375
94$8,734,624$1,659,946$816,075$6,359,861
95$9,536,816$1,652,544$754,675$6,884,042
96$10,418,037$1,641,985$688,422$7,459,687
97$11,386,260$1,628,024$617,067$8,092,057
98$12,450,266$1,610,406$540,347$8,786,949
99$13,619,734$1,588,856$457,989$9,550,759
100$14,905,323$1,563,086$369,708$10,390,536