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

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 $1,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$107,353$106,397$105,464$104,553$103,664$101,988
2 years$53,145$52,155$51,196$50,266$49,364$47,680
3 years$35,078$34,084$33,127$32,206$31,318$29,680
4 years$26,046$25,055$24,108$23,202$22,337$20,755
5 years$20,629$19,644$18,709$17,822$16,980$15,460
6 years$17,018$16,041$15,120$14,252$13,436$11,979
7 years$14,440$13,471$12,564$11,718$10,927$9,534
8 years$12,508$11,547$10,656$9,830$9,065$7,736
9 years$11,005$10,054$9,178$8,373$7,634$6,368
10 years$9,804$8,862$8,001$7,217$6,504$5,300
11 years$8,822$7,889$7,044$6,281$5,594$4,450
12 years$8,004$7,081$6,252$5,509$4,848$3,763
13 years$7,313$6,399$5,585$4,864$4,227$3,200
14 years$6,720$5,817$5,018$4,318$3,706$2,734
15 years$6,208$5,314$4,531$3,851$3,263$2,345
16 years$5,759$4,875$4,108$3,448$2,884$2,018
17 years$5,364$4,490$3,738$3,098$2,557$1,742
18 years$5,014$4,149$3,412$2,792$2,273$1,507
19 years$4,700$3,845$3,124$2,523$2,026$1,306
20 years$4,418$3,573$2,867$2,285$1,810$1,134
21 years$4,164$3,328$2,637$2,074$1,620$986
22 years$3,932$3,107$2,430$1,885$1,452$858
23 years$3,722$2,906$2,244$1,717$1,303$748
24 years$3,529$2,722$2,075$1,566$1,171$652
25 years$3,352$2,555$1,922$1,430$1,054$570
26 years$3,188$2,401$1,783$1,308$949$498
27 years$3,037$2,260$1,655$1,197$856$435
28 years$2,897$2,129$1,539$1,097$772$381
29 years$2,767$2,009$1,432$1,006$697$333
30 years$2,646$1,897$1,334$923$630$292
31 years$2,533$1,793$1,244$848$570$255
32 years$2,427$1,697$1,160$779$515$224
33 years$2,328$1,607$1,083$716$466$196
34 years$2,235$1,523$1,012$659$422$172
35 years$2,147$1,445$946$607$382$151
36 years$2,065$1,371$885$559$347$132
37 years$1,987$1,302$829$515$314$116
38 years$1,913$1,238$776$475$285$102
39 years$1,843$1,177$727$438$258$89
40 years$1,777$1,120$681$404$234$78
41 years$1,715$1,066$639$372$212$69
42 years$1,655$1,015$599$344$193$60
43 years$1,598$967$562$317$175$53
44 years$1,545$922$528$293$159$46
45 years$1,493$879$496$271$144$41
46 years$1,444$839$466$250$131$36
47 years$1,398$800$437$231$119$31
48 years$1,353$764$411$213$108$27
49 years$1,310$730$386$197$98$24
50 years$1,269$697$363$182$89$21

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 $2,388 every year, while hoping to spend $39,899 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: 35/38/27 Blend
70$1,300,000$1,300,000$1,300,000$1,300,000
71$1,435,063$1,366,163$1,346,013$1,473,526
72$1,538,987$1,390,653$1,348,652$1,526,954
73$1,652,175$1,415,006$1,350,043$1,580,791
74$1,775,528$1,439,172$1,350,100$1,638,105
75$1,910,040$1,463,100$1,348,737$1,699,234
76$2,056,805$1,486,732$1,345,861$1,764,552
77$2,217,026$1,510,009$1,341,374$1,834,471
78$2,392,027$1,532,865$1,335,175$1,909,450
79$2,583,269$1,555,230$1,327,158$1,989,991
80$2,792,355$1,577,029$1,317,211$2,076,655
81$3,021,055$1,598,183$1,305,217$2,170,059
82$3,271,314$1,618,605$1,291,053$2,270,884
83$3,545,276$1,638,205$1,274,591$2,379,886
84$3,845,301$1,656,884$1,255,697$2,497,898
85$4,173,988$1,674,538$1,234,229$2,625,843
86$4,534,201$1,691,056$1,210,042$2,764,738
87$4,929,090$1,706,319$1,182,979$2,915,711
88$5,362,129$1,720,200$1,152,881$3,080,003
89$5,837,142$1,732,565$1,119,578$3,258,991
90$6,358,340$1,743,271$1,082,893$3,454,191
91$6,930,364$1,752,164$1,042,643$3,667,282
92$7,558,323$1,759,082$998,634$3,900,116
93$8,247,847$1,763,853$950,664$4,154,739
94$9,005,139$1,766,292$898,522$4,433,411
95$9,837,028$1,766,206$841,987$4,738,629
96$10,751,041$1,763,386$780,830$5,073,147
97$11,755,468$1,757,613$714,809$5,440,009
98$12,859,443$1,748,653$643,673$5,842,574
99$14,073,029$1,736,260$567,158$6,284,553
100$15,407,311$1,720,170$484,991$6,770,039