Can I retire at age 47 with 1,070,000?

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$88,360$87,573$86,805$86,055$85,323$81,938
2 years$43,742$42,928$42,138$41,373$40,630$37,261
3 years$28,872$28,054$27,266$26,508$25,777$22,531
4 years$21,438$20,622$19,843$19,097$18,385$15,286
5 years$16,979$16,168$15,399$14,669$13,976$11,032
6 years$14,007$13,203$12,445$11,731$11,059$8,272
7 years$11,885$11,088$10,341$9,644$8,994$6,364
8 years$10,295$9,504$8,770$8,090$7,461$4,985
9 years$9,058$8,275$7,554$6,891$6,283$3,957
10 years$8,070$7,294$6,586$5,940$5,354$3,172
11 years$7,261$6,493$5,798$5,170$4,604$2,563
12 years$6,588$5,828$5,146$4,535$3,990$2,083
13 years$6,019$5,267$4,597$4,003$3,479$1,701
14 years$5,531$4,788$4,131$3,554$3,050$1,395
15 years$5,109$4,373$3,729$3,169$2,685$1,147
16 years$4,741$4,013$3,381$2,838$2,373$946
17 years$4,415$3,695$3,077$2,550$2,104$781
18 years$4,127$3,415$2,809$2,298$1,871$646
19 years$3,869$3,165$2,571$2,076$1,668$536
20 years$3,637$2,941$2,360$1,880$1,490$444
21 years$3,427$2,739$2,171$1,707$1,333$369
22 years$3,237$2,557$2,000$1,552$1,195$306
23 years$3,063$2,392$1,847$1,413$1,073$255
24 years$2,904$2,241$1,708$1,289$964$212
25 years$2,759$2,103$1,582$1,177$868$176
26 years$2,624$1,976$1,467$1,076$781$147
27 years$2,500$1,860$1,363$985$705$122
28 years$2,385$1,753$1,267$903$636$102
29 years$2,278$1,653$1,179$828$574$85
30 years$2,178$1,561$1,098$760$519$71
31 years$2,085$1,476$1,024$698$469$59
32 years$1,998$1,397$955$641$424$49
33 years$1,916$1,323$892$590$384$41
34 years$1,840$1,254$833$543$348$34
35 years$1,767$1,189$779$499$315$28
36 years$1,699$1,129$729$460$285$24
37 years$1,635$1,072$682$424$259$20
38 years$1,575$1,019$639$391$234$17
39 years$1,517$969$598$360$213$14
40 years$1,463$922$561$332$193$11
41 years$1,411$877$526$306$175$10
42 years$1,362$835$493$283$159$8
43 years$1,316$796$463$261$144$7
44 years$1,271$759$435$241$131$6
45 years$1,229$724$408$223$119$5
46 years$1,189$690$383$206$108$4
47 years$1,150$659$360$190$98$3
48 years$1,113$629$338$176$89$3
49 years$1,078$600$318$162$81$2
50 years$1,045$574$299$150$73$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,070,000, adding $2,776 every year, while hoping to spend $23,852 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: 67/15/18 Blend
46$1,070,000$1,070,000$1,070,000$1,070,000
47$1,182,003$1,125,293$1,108,708$1,255,804
48$1,277,189$1,155,054$1,120,472$1,335,263
49$1,381,285$1,185,474$1,131,830$1,419,086
50$1,495,174$1,216,560$1,142,744$1,510,164
51$1,619,829$1,248,319$1,153,173$1,609,208
52$1,756,321$1,280,756$1,163,074$1,717,003
53$1,905,830$1,313,878$1,172,401$1,834,413
54$2,069,656$1,347,689$1,181,108$1,962,388
55$2,249,229$1,382,194$1,189,143$2,101,977
56$2,446,126$1,417,397$1,196,455$2,254,334
57$2,662,081$1,453,300$1,202,987$2,420,731
58$2,899,007$1,489,905$1,208,680$2,602,568
59$3,159,009$1,527,214$1,213,475$2,801,390
60$3,444,407$1,565,226$1,217,305$3,018,896
61$3,757,756$1,603,942$1,220,104$3,256,961
62$4,101,870$1,643,358$1,221,800$3,517,650
63$4,479,849$1,683,471$1,222,320$3,803,237
64$4,895,110$1,724,277$1,221,583$4,116,228
65$5,351,414$1,765,769$1,219,509$4,459,386
66$5,852,906$1,807,940$1,216,011$4,835,753
67$6,404,154$1,850,781$1,210,999$5,248,684
68$7,010,188$1,894,279$1,204,377$5,701,874
69$7,676,551$1,938,423$1,196,048$6,199,394
70$8,409,350$1,983,196$1,185,906$6,745,732
71$9,215,312$2,028,581$1,173,842$7,345,833
72$10,101,851$2,074,559$1,159,743$8,005,146
73$11,077,135$2,121,107$1,143,490$8,729,675
74$12,150,161$2,168,200$1,124,955$9,526,037
75$13,330,846$2,215,810$1,104,009$10,401,525
76$14,630,114$2,263,907$1,080,515$11,364,175
77$16,060,002$2,312,454$1,054,329$12,422,841
78$17,633,773$2,361,416$1,025,300$13,587,284
79$19,366,042$2,410,749$993,272$14,868,258
80$21,272,912$2,460,410$958,080$16,277,614
81$23,372,126$2,510,346$919,552$17,828,414
82$25,683,235$2,560,505$877,509$19,535,051
83$28,227,782$2,610,828$831,763$21,413,388
84$31,029,506$2,661,248$782,118$23,480,904
85$34,114,565$2,711,698$728,367$25,756,865
86$37,511,781$2,762,102$670,298$28,262,500
87$41,252,915$2,812,378$607,686$31,021,204
88$45,372,965$2,862,437$540,296$34,058,761
89$49,910,496$2,912,185$467,885$37,403,585
90$54,908,005$2,961,520$390,197$41,086,989
91$60,412,318$3,010,332$306,965$45,143,481
92$66,475,038$3,058,501$217,912$49,611,091
93$73,153,026$3,105,902$122,746$54,531,727
94$80,508,941$3,152,398$21,165$59,951,576
95$88,611,831$3,197,843$0$65,921,537
96$97,537,780$3,242,080$0$72,514,456
97$107,370,635$3,284,942$0$79,780,820
98$118,202,786$3,326,251$0$87,784,750
99$130,136,048$3,365,815$0$96,601,386
100$143,282,614$3,403,430$0$106,313,535