Can I retire at age 79 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%14.2%
1 years$107,353$106,397$105,464$104,553$103,664$101,863
2 years$53,145$52,155$51,196$50,266$49,364$47,555
3 years$35,078$34,084$33,127$32,206$31,318$29,558
4 years$26,046$25,055$24,108$23,202$22,337$20,639
5 years$20,629$19,644$18,709$17,822$16,980$15,349
6 years$17,018$16,041$15,120$14,252$13,436$11,874
7 years$14,440$13,471$12,564$11,718$10,927$9,434
8 years$12,508$11,547$10,656$9,830$9,065$7,642
9 years$11,005$10,054$9,178$8,373$7,634$6,279
10 years$9,804$8,862$8,001$7,217$6,504$5,217
11 years$8,822$7,889$7,044$6,281$5,594$4,372
12 years$8,004$7,081$6,252$5,509$4,848$3,690
13 years$7,313$6,399$5,585$4,864$4,227$3,132
14 years$6,720$5,817$5,018$4,318$3,706$2,670
15 years$6,208$5,314$4,531$3,851$3,263$2,286
16 years$5,759$4,875$4,108$3,448$2,884$1,963
17 years$5,364$4,490$3,738$3,098$2,557$1,690
18 years$5,014$4,149$3,412$2,792$2,273$1,459
19 years$4,700$3,845$3,124$2,523$2,026$1,262
20 years$4,418$3,573$2,867$2,285$1,810$1,093
21 years$4,164$3,328$2,637$2,074$1,620$948
22 years$3,932$3,107$2,430$1,885$1,452$824
23 years$3,722$2,906$2,244$1,717$1,303$716
24 years$3,529$2,722$2,075$1,566$1,171$623
25 years$3,352$2,555$1,922$1,430$1,054$543
26 years$3,188$2,401$1,783$1,308$949$473
27 years$3,037$2,260$1,655$1,197$856$413
28 years$2,897$2,129$1,539$1,097$772$360
29 years$2,767$2,009$1,432$1,006$697$314
30 years$2,646$1,897$1,334$923$630$274
31 years$2,533$1,793$1,244$848$570$240
32 years$2,427$1,697$1,160$779$515$210
33 years$2,328$1,607$1,083$716$466$183
34 years$2,235$1,523$1,012$659$422$160
35 years$2,147$1,445$946$607$382$140
36 years$2,065$1,371$885$559$347$122
37 years$1,987$1,302$829$515$314$107
38 years$1,913$1,238$776$475$285$94
39 years$1,843$1,177$727$438$258$82
40 years$1,777$1,120$681$404$234$72
41 years$1,715$1,066$639$372$212$63
42 years$1,655$1,015$599$344$193$55
43 years$1,598$967$562$317$175$48
44 years$1,545$922$528$293$159$42
45 years$1,493$879$496$271$144$37
46 years$1,444$839$466$250$131$32
47 years$1,398$800$437$231$119$28
48 years$1,353$764$411$213$108$25
49 years$1,310$730$386$197$98$22
50 years$1,269$697$363$182$89$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 79 starting with $1,300,000, adding $6,153 every year, while hoping to spend $47,727 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: 81/11/8 Blend
78$1,300,000$1,300,000$1,300,000$1,300,000
79$1,438,947$1,370,047$1,349,897$1,553,556
80$1,534,938$1,386,398$1,344,337$1,645,848
81$1,639,121$1,401,951$1,336,992$1,740,176
82$1,752,281$1,416,616$1,327,750$1,842,263
83$1,875,281$1,430,297$1,316,497$1,952,857
84$2,009,071$1,442,893$1,303,111$2,072,787
85$2,154,697$1,454,296$1,287,466$2,202,962
86$2,313,309$1,464,389$1,269,430$2,344,385
87$2,486,173$1,473,050$1,248,862$2,498,161
88$2,674,681$1,480,148$1,225,617$2,665,504
89$2,880,367$1,485,544$1,199,544$2,847,757
90$3,104,918$1,489,090$1,170,482$3,046,394
91$3,350,193$1,490,628$1,138,266$3,263,042
92$3,618,235$1,489,992$1,102,721$3,499,494
93$3,911,297$1,487,003$1,063,664$3,757,723
94$4,231,857$1,481,474$1,020,905$4,039,906
95$4,582,646$1,473,205$974,244$4,348,438
96$4,966,667$1,461,984$923,472$4,685,962
97$5,387,231$1,447,585$868,373$5,055,387
98$5,847,983$1,429,771$808,717$5,459,921
99$6,352,935$1,408,288$744,268$5,903,097
100$6,906,510$1,382,869$674,776$6,388,812