Can I retire at age 71 with 1,300,000?

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 $1,300,000?

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 years$107,353$106,397$105,464$104,553$103,664$101,529
2 years$53,145$52,155$51,196$50,266$49,364$47,223
3 years$35,078$34,084$33,127$32,206$31,318$29,238
4 years$26,046$25,055$24,108$23,202$22,337$20,333
5 years$20,629$19,644$18,709$17,822$16,980$15,058
6 years$17,018$16,041$15,120$14,252$13,436$11,598
7 years$14,440$13,471$12,564$11,718$10,927$9,174
8 years$12,508$11,547$10,656$9,830$9,065$7,396
9 years$11,005$10,054$9,178$8,373$7,634$6,049
10 years$9,804$8,862$8,001$7,217$6,504$5,001
11 years$8,822$7,889$7,044$6,281$5,594$4,170
12 years$8,004$7,081$6,252$5,509$4,848$3,501
13 years$7,313$6,399$5,585$4,864$4,227$2,956
14 years$6,720$5,817$5,018$4,318$3,706$2,507
15 years$6,208$5,314$4,531$3,851$3,263$2,134
16 years$5,759$4,875$4,108$3,448$2,884$1,822
17 years$5,364$4,490$3,738$3,098$2,557$1,560
18 years$5,014$4,149$3,412$2,792$2,273$1,339
19 years$4,700$3,845$3,124$2,523$2,026$1,151
20 years$4,418$3,573$2,867$2,285$1,810$991
21 years$4,164$3,328$2,637$2,074$1,620$855
22 years$3,932$3,107$2,430$1,885$1,452$738
23 years$3,722$2,906$2,244$1,717$1,303$637
24 years$3,529$2,722$2,075$1,566$1,171$551
25 years$3,352$2,555$1,922$1,430$1,054$477
26 years$3,188$2,401$1,783$1,308$949$413
27 years$3,037$2,260$1,655$1,197$856$358
28 years$2,897$2,129$1,539$1,097$772$310
29 years$2,767$2,009$1,432$1,006$697$269
30 years$2,646$1,897$1,334$923$630$234
31 years$2,533$1,793$1,244$848$570$203
32 years$2,427$1,697$1,160$779$515$176
33 years$2,328$1,607$1,083$716$466$153
34 years$2,235$1,523$1,012$659$422$133
35 years$2,147$1,445$946$607$382$115
36 years$2,065$1,371$885$559$347$100
37 years$1,987$1,302$829$515$314$87
38 years$1,913$1,238$776$475$285$76
39 years$1,843$1,177$727$438$258$66
40 years$1,777$1,120$681$404$234$57
41 years$1,715$1,066$639$372$212$50
42 years$1,655$1,015$599$344$193$43
43 years$1,598$967$562$317$175$37
44 years$1,545$922$528$293$159$33
45 years$1,493$879$496$271$144$28
46 years$1,444$839$466$250$131$25
47 years$1,398$800$437$231$119$21
48 years$1,353$764$411$213$108$19
49 years$1,310$730$386$197$98$16
50 years$1,269$697$363$182$89$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,300,000, adding $2,952 every year, while hoping to spend $40,824 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: 36/46/18 Blend
70$1,300,000$1,300,000$1,300,000$1,300,000
71$1,435,645$1,366,745$1,346,595$1,479,366
72$1,538,644$1,390,279$1,348,270$1,534,931
73$1,650,781$1,413,598$1,348,632$1,590,827
74$1,772,945$1,436,648$1,347,595$1,650,314
75$1,906,114$1,459,372$1,345,068$1,713,734
76$2,051,364$1,481,708$1,340,954$1,781,469
77$2,209,880$1,503,589$1,335,153$1,853,936
78$2,382,968$1,524,945$1,327,561$1,931,600
79$2,572,063$1,545,699$1,318,066$2,014,974
80$2,778,745$1,565,770$1,306,553$2,104,623
81$3,004,755$1,585,071$1,292,900$2,201,174
82$3,252,009$1,603,509$1,276,982$2,305,318
83$3,522,618$1,620,984$1,258,664$2,417,821
84$3,818,904$1,637,392$1,237,809$2,539,527
85$4,143,426$1,652,618$1,214,269$2,671,369
86$4,499,001$1,666,542$1,187,894$2,814,379
87$4,888,734$1,679,037$1,158,522$2,969,696
88$5,316,040$1,689,965$1,125,988$3,138,581
89$5,784,684$1,699,181$1,090,116$3,322,422
90$6,298,811$1,706,531$1,050,725$3,522,756
91$6,862,989$1,711,849$1,007,623$3,741,281
92$7,482,246$1,714,962$960,610$3,979,870
93$8,162,123$1,715,683$909,479$4,240,593
94$8,908,723$1,713,815$854,010$4,525,735
95$9,728,769$1,709,149$793,976$4,837,821
96$10,629,668$1,701,461$729,138$5,179,636
97$11,619,578$1,690,517$659,249$5,554,259
98$12,707,488$1,676,066$584,047$5,965,085
99$13,903,300$1,657,841$503,261$6,415,866
100$15,217,925$1,635,563$416,608$6,910,740