Can I retire at age 47 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$87,534$86,754$85,993$85,251$84,526$83,993
2 years$43,334$42,527$41,744$40,986$40,250$39,713
3 years$28,602$27,792$27,011$26,260$25,537$25,011
4 years$21,238$20,430$19,657$18,919$18,213$17,704
5 years$16,820$16,017$15,255$14,532$13,845$13,353
6 years$13,876$13,079$12,328$11,621$10,955$10,482
7 years$11,774$10,984$10,245$9,554$8,909$8,454
8 years$10,199$9,415$8,688$8,015$7,391$6,955
9 years$8,974$8,198$7,483$6,827$6,225$5,806
10 years$7,994$7,226$6,524$5,885$5,304$4,903
11 years$7,193$6,433$5,744$5,122$4,561$4,179
12 years$6,526$5,774$5,097$4,492$3,953$3,588
13 years$5,963$5,218$4,554$3,966$3,447$3,099
14 years$5,480$4,743$4,092$3,521$3,021$2,690
15 years$5,062$4,333$3,695$3,140$2,660$2,345
16 years$4,696$3,975$3,350$2,811$2,351$2,052
17 years$4,374$3,661$3,048$2,526$2,085$1,801
18 years$4,088$3,383$2,782$2,276$1,854$1,585
19 years$3,832$3,135$2,547$2,057$1,652$1,398
20 years$3,603$2,913$2,338$1,863$1,476$1,235
21 years$3,395$2,714$2,150$1,691$1,321$1,093
22 years$3,206$2,533$1,982$1,537$1,184$969
23 years$3,035$2,369$1,830$1,400$1,063$860
24 years$2,877$2,220$1,692$1,277$955$765
25 years$2,733$2,083$1,567$1,166$859$680
26 years$2,600$1,958$1,454$1,066$774$606
27 years$2,477$1,843$1,350$976$698$540
28 years$2,363$1,736$1,255$894$630$481
29 years$2,256$1,638$1,168$820$569$429
30 years$2,158$1,547$1,088$753$514$383
31 years$2,065$1,462$1,014$691$465$342
32 years$1,979$1,384$946$635$420$306
33 years$1,898$1,310$883$584$380$274
34 years$1,822$1,242$825$537$344$245
35 years$1,751$1,178$772$495$312$219
36 years$1,684$1,118$722$456$283$196
37 years$1,620$1,062$676$420$256$175
38 years$1,560$1,009$633$387$232$157
39 years$1,503$960$593$357$211$140
40 years$1,449$913$556$329$191$126
41 years$1,398$869$521$304$173$113
42 years$1,350$828$489$280$157$101
43 years$1,303$789$459$259$143$90
44 years$1,259$752$430$239$130$81
45 years$1,218$717$404$221$118$73
46 years$1,178$684$380$204$107$65
47 years$1,140$653$357$188$97$58
48 years$1,103$623$335$174$88$52
49 years$1,068$595$315$161$80$47
50 years$1,035$568$296$149$73$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,060,000, adding $3,198 every year, while hoping to spend $52,382 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: 86/8/6 Blend
46$1,060,000$1,060,000$1,060,000$1,060,000
47$1,171,419$1,115,239$1,098,809$1,271,596
48$1,235,169$1,114,151$1,079,885$1,336,277
49$1,303,667$1,111,255$1,058,571$1,399,794
50$1,377,340$1,106,406$1,034,733$1,467,900
51$1,456,661$1,099,451$1,008,228$1,541,021
52$1,542,145$1,090,229$978,908$1,619,624
53$1,634,361$1,078,568$946,619$1,704,224
54$1,733,932$1,064,284$911,197$1,795,387
55$1,841,546$1,047,187$872,475$1,893,737
56$1,957,954$1,027,070$830,274$1,999,959
57$2,083,987$1,003,717$784,409$2,114,809
58$2,220,554$976,899$734,687$2,239,120
59$2,368,656$946,374$680,905$2,373,807
60$2,529,396$911,883$622,852$2,519,880
61$2,703,984$873,154$560,307$2,678,451
62$2,893,752$829,901$493,039$2,850,743
63$3,100,167$781,818$420,808$3,038,106
64$3,324,840$728,584$343,362$3,242,025
65$3,569,547$669,857$260,437$3,464,138
66$3,836,239$605,278$171,760$3,706,248
67$4,127,065$534,467$77,044$3,970,341
68$4,444,391$457,021$0$4,258,608
69$4,790,820$372,516$0$4,575,000
70$5,169,217$280,503$0$4,925,999
71$5,582,737$180,508$0$5,309,618
72$6,034,854$72,030$0$5,729,108
73$6,529,390$0$0$6,188,048
74$7,070,558$0$0$6,694,383
75$7,662,992$0$0$7,255,639
76$8,311,798$0$0$7,870,314
77$9,022,599$0$0$8,543,735
78$9,801,586$0$0$9,281,771
79$10,655,579$0$0$10,090,884
80$11,592,086$0$0$10,978,191
81$12,619,382$0$0$11,951,532
82$13,746,575$0$0$13,019,540
83$14,983,703$0$0$14,191,728
84$16,341,820$0$0$15,478,571
85$17,833,103$0$0$16,891,609
86$19,470,966$0$0$18,443,555
87$21,270,185$0$0$20,148,413
88$23,247,041$0$0$22,021,611
89$25,419,465$0$0$24,080,144
90$27,807,215$0$0$26,342,735
91$30,432,058$0$0$28,830,013
92$33,317,972$0$0$31,564,703
93$36,491,377$0$0$34,571,843
94$39,981,382$0$0$37,879,020
95$43,820,055$0$0$41,516,625
96$48,042,731$0$0$45,518,145
97$52,688,340$0$0$49,920,475
98$57,799,777$0$0$54,764,266
99$63,424,303$0$0$60,094,310
100$69,613,992$0$0$65,959,956