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

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$88,360$87,573$86,805$86,055$85,323$83,059
2 years$43,742$42,928$42,138$41,373$40,630$38,364
3 years$28,872$28,054$27,266$26,508$25,777$23,581
4 years$21,438$20,622$19,843$19,097$18,385$16,275
5 years$16,979$16,168$15,399$14,669$13,976$11,959
6 years$14,007$13,203$12,445$11,731$11,059$9,136
7 years$11,885$11,088$10,341$9,644$8,994$7,165
8 years$10,295$9,504$8,770$8,090$7,461$5,727
9 years$9,058$8,275$7,554$6,891$6,283$4,641
10 years$8,070$7,294$6,586$5,940$5,354$3,801
11 years$7,261$6,493$5,798$5,170$4,604$3,140
12 years$6,588$5,828$5,146$4,535$3,990$2,610
13 years$6,019$5,267$4,597$4,003$3,479$2,182
14 years$5,531$4,788$4,131$3,554$3,050$1,831
15 years$5,109$4,373$3,729$3,169$2,685$1,543
16 years$4,741$4,013$3,381$2,838$2,373$1,304
17 years$4,415$3,695$3,077$2,550$2,104$1,104
18 years$4,127$3,415$2,809$2,298$1,871$937
19 years$3,869$3,165$2,571$2,076$1,668$797
20 years$3,637$2,941$2,360$1,880$1,490$678
21 years$3,427$2,739$2,171$1,707$1,333$578
22 years$3,237$2,557$2,000$1,552$1,195$493
23 years$3,063$2,392$1,847$1,413$1,073$421
24 years$2,904$2,241$1,708$1,289$964$360
25 years$2,759$2,103$1,582$1,177$868$308
26 years$2,624$1,976$1,467$1,076$781$263
27 years$2,500$1,860$1,363$985$705$226
28 years$2,385$1,753$1,267$903$636$193
29 years$2,278$1,653$1,179$828$574$165
30 years$2,178$1,561$1,098$760$519$142
31 years$2,085$1,476$1,024$698$469$122
32 years$1,998$1,397$955$641$424$104
33 years$1,916$1,323$892$590$384$89
34 years$1,840$1,254$833$543$348$77
35 years$1,767$1,189$779$499$315$66
36 years$1,699$1,129$729$460$285$56
37 years$1,635$1,072$682$424$259$48
38 years$1,575$1,019$639$391$234$41
39 years$1,517$969$598$360$213$36
40 years$1,463$922$561$332$193$31
41 years$1,411$877$526$306$175$26
42 years$1,362$835$493$283$159$22
43 years$1,316$796$463$261$144$19
44 years$1,271$759$435$241$131$17
45 years$1,229$724$408$223$119$14
46 years$1,189$690$383$206$108$12
47 years$1,150$659$360$190$98$10
48 years$1,113$629$338$176$89$9
49 years$1,078$600$318$162$81$8
50 years$1,045$574$299$150$73$7

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 $6,112 every year, while hoping to spend $32,790 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: 74/18/8 Blend
46$1,070,000$1,070,000$1,070,000$1,070,000
47$1,185,445$1,128,735$1,112,150$1,271,238
48$1,271,472$1,149,154$1,114,518$1,349,026
49$1,365,174$1,169,475$1,115,867$1,429,483
50$1,467,301$1,189,659$1,116,128$1,516,696
51$1,578,676$1,209,662$1,115,228$1,611,324
52$1,700,204$1,229,439$1,113,092$1,714,091
53$1,832,885$1,248,941$1,109,640$1,825,795
54$1,977,815$1,268,115$1,104,789$1,947,314
55$2,136,205$1,286,906$1,098,452$2,079,616
56$2,309,385$1,305,251$1,090,537$2,223,769
57$2,498,821$1,323,087$1,080,949$2,380,948
58$2,706,126$1,340,344$1,069,586$2,552,447
59$2,933,078$1,356,948$1,056,344$2,739,692
60$3,181,633$1,372,820$1,041,113$2,944,256
61$3,453,947$1,387,875$1,023,777$3,167,870
62$3,752,391$1,402,023$1,004,216$3,412,443
63$4,079,581$1,415,167$982,303$3,680,077
64$4,438,394$1,427,206$957,906$3,973,090
65$4,832,001$1,438,030$930,886$4,294,036
66$5,263,893$1,447,522$901,100$4,645,727
67$5,737,918$1,455,558$868,394$5,031,265
68$6,258,313$1,462,008$832,613$5,454,068
69$6,829,744$1,466,729$793,588$5,917,902
70$7,457,354$1,469,575$751,149$6,426,917
71$8,146,805$1,470,385$705,114$6,985,686
72$8,904,338$1,468,993$655,294$7,599,252
73$9,736,825$1,465,218$601,491$8,273,169
74$10,651,840$1,458,873$543,500$9,013,560
75$11,657,725$1,449,755$481,105$9,827,173
76$12,763,672$1,437,651$414,080$10,721,444
77$13,979,806$1,422,336$342,191$11,704,569
78$15,317,284$1,403,568$265,193$12,785,581
79$16,788,398$1,381,094$182,828$13,974,434
80$18,406,692$1,354,645$94,830$15,282,100
81$20,187,087$1,323,935$919$16,720,671
82$22,146,023$1,288,662$0$18,303,473
83$24,301,617$1,248,506$0$20,053,670
84$26,673,828$1,203,128$0$21,979,606
85$29,284,647$1,152,170$0$24,099,069
86$32,158,308$1,095,253$0$26,431,750
87$35,321,510$1,031,976$0$28,999,346
88$38,803,676$961,914$0$31,825,769
89$42,637,223$884,620$0$34,937,372
90$46,857,872$799,619$0$38,363,194
91$51,504,985$706,410$0$42,135,238
92$56,621,932$604,463$0$46,288,775
93$62,256,507$493,219$0$50,862,672
94$68,461,371$372,087$0$55,899,761
95$75,294,554$240,443$0$61,447,248
96$82,820,001$97,627$0$67,557,153
97$91,108,174$0$0$74,286,806
98$100,236,717$0$0$81,710,686
99$110,291,189$0$0$89,908,951
100$121,365,874$0$0$98,939,149