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%15.9%
1 years$88,360$87,573$86,805$86,055$85,323$83,261
2 years$43,742$42,928$42,138$41,373$40,630$38,564
3 years$28,872$28,054$27,266$26,508$25,777$23,773
4 years$21,438$20,622$19,843$19,097$18,385$16,457
5 years$16,979$16,168$15,399$14,669$13,976$12,131
6 years$14,007$13,203$12,445$11,731$11,059$9,298
7 years$11,885$11,088$10,341$9,644$8,994$7,317
8 years$10,295$9,504$8,770$8,090$7,461$5,868
9 years$9,058$8,275$7,554$6,891$6,283$4,773
10 years$8,070$7,294$6,586$5,940$5,354$3,924
11 years$7,261$6,493$5,798$5,170$4,604$3,254
12 years$6,588$5,828$5,146$4,535$3,990$2,716
13 years$6,019$5,267$4,597$4,003$3,479$2,279
14 years$5,531$4,788$4,131$3,554$3,050$1,921
15 years$5,109$4,373$3,729$3,169$2,685$1,625
16 years$4,741$4,013$3,381$2,838$2,373$1,379
17 years$4,415$3,695$3,077$2,550$2,104$1,173
18 years$4,127$3,415$2,809$2,298$1,871$1,000
19 years$3,869$3,165$2,571$2,076$1,668$854
20 years$3,637$2,941$2,360$1,880$1,490$730
21 years$3,427$2,739$2,171$1,707$1,333$625
22 years$3,237$2,557$2,000$1,552$1,195$536
23 years$3,063$2,392$1,847$1,413$1,073$460
24 years$2,904$2,241$1,708$1,289$964$395
25 years$2,759$2,103$1,582$1,177$868$339
26 years$2,624$1,976$1,467$1,076$781$292
27 years$2,500$1,860$1,363$985$705$251
28 years$2,385$1,753$1,267$903$636$216
29 years$2,278$1,653$1,179$828$574$186
30 years$2,178$1,561$1,098$760$519$160
31 years$2,085$1,476$1,024$698$469$138
32 years$1,998$1,397$955$641$424$119
33 years$1,916$1,323$892$590$384$102
34 years$1,840$1,254$833$543$348$88
35 years$1,767$1,189$779$499$315$76
36 years$1,699$1,129$729$460$285$66
37 years$1,635$1,072$682$424$259$57
38 years$1,575$1,019$639$391$234$49
39 years$1,517$969$598$360$213$42
40 years$1,463$922$561$332$193$36
41 years$1,411$877$526$306$175$31
42 years$1,362$835$493$283$159$27
43 years$1,316$796$463$261$144$23
44 years$1,271$759$435$241$131$20
45 years$1,229$724$408$223$119$17
46 years$1,189$690$383$206$108$15
47 years$1,150$659$360$190$98$13
48 years$1,113$629$338$176$89$11
49 years$1,078$600$318$162$81$10
50 years$1,045$574$299$150$73$8

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 $4,320 every year, while hoping to spend $56,629 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: 53/32/15 Blend
46$1,070,000$1,070,000$1,070,000$1,070,000
47$1,183,596$1,126,886$1,110,301$1,241,356
48$1,244,070$1,121,851$1,087,243$1,276,249
49$1,308,814$1,114,671$1,061,515$1,307,807
50$1,378,205$1,105,181$1,032,967$1,340,870
51$1,452,654$1,093,207$1,001,444$1,375,598
52$1,532,614$1,078,563$966,781$1,412,165
53$1,618,581$1,061,053$928,809$1,450,771
54$1,711,100$1,040,469$887,348$1,491,637
55$1,810,770$1,016,589$842,212$1,535,008
56$1,918,248$989,182$793,206$1,581,161
57$2,034,257$957,999$740,126$1,630,402
58$2,159,589$922,780$682,758$1,683,076
59$2,295,118$883,246$620,881$1,739,563
60$2,441,800$839,105$554,261$1,800,289
61$2,600,691$790,048$482,655$1,865,728
62$2,772,947$735,747$405,811$1,936,408
63$2,959,844$675,855$323,462$2,012,916
64$3,162,783$610,006$235,332$2,095,903
65$3,383,303$537,813$141,132$2,186,097
66$3,623,102$458,867$40,561$2,284,302
67$3,884,042$372,736$0$2,391,415
68$4,168,177$278,963$0$2,519,116
69$4,477,765$177,066$0$2,665,446
70$4,815,291$66,536$0$2,825,186
71$5,183,489$0$0$2,999,753
72$5,585,369$0$0$3,209,435
73$6,024,247$0$0$3,464,104
74$6,503,769$0$0$3,742,459
75$7,027,951$0$0$4,046,845
76$7,601,214$0$0$4,379,842
77$8,228,428$0$0$4,744,291
78$8,914,952$0$0$5,143,321
79$9,666,689$0$0$5,580,379
80$10,490,139$0$0$6,059,259
81$11,392,461$0$0$6,584,139
82$12,381,537$0$0$7,159,622
83$13,466,052$0$0$7,790,778
84$14,655,567$0$0$8,483,188
85$15,960,616$0$0$9,243,004
86$17,392,801$0$0$10,076,999
87$18,964,901$0$0$10,992,635
88$20,690,994$0$0$11,998,130
89$22,586,585$0$0$13,102,540
90$24,668,758$0$0$14,315,838
91$26,956,330$0$0$15,649,013
92$29,470,032$0$0$17,114,170
93$32,232,703$0$0$18,724,646
94$35,269,504$0$0$20,495,132
95$38,608,153$0$0$22,441,816
96$42,279,191$0$0$24,582,531
97$46,316,265$0$0$26,936,926
98$50,756,445$0$0$29,526,650
99$55,640,575$0$0$32,375,553
100$61,013,656$0$0$35,509,915