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%13.1%
1 years$88,360$87,573$86,805$86,055$85,323$84,222
2 years$43,742$42,928$42,138$41,373$40,630$39,522
3 years$28,872$28,054$27,266$26,508$25,777$24,697
4 years$21,438$20,622$19,843$19,097$18,385$17,341
5 years$16,979$16,168$15,399$14,669$13,976$12,971
6 years$14,007$13,203$12,445$11,731$11,059$10,094
7 years$11,885$11,088$10,341$9,644$8,994$8,070
8 years$10,295$9,504$8,770$8,090$7,461$6,578
9 years$9,058$8,275$7,554$6,891$6,283$5,440
10 years$8,070$7,294$6,586$5,940$5,354$4,550
11 years$7,261$6,493$5,798$5,170$4,604$3,840
12 years$6,588$5,828$5,146$4,535$3,990$3,263
13 years$6,019$5,267$4,597$4,003$3,479$2,790
14 years$5,531$4,788$4,131$3,554$3,050$2,397
15 years$5,109$4,373$3,729$3,169$2,685$2,067
16 years$4,741$4,013$3,381$2,838$2,373$1,789
17 years$4,415$3,695$3,077$2,550$2,104$1,552
18 years$4,127$3,415$2,809$2,298$1,871$1,351
19 years$3,869$3,165$2,571$2,076$1,668$1,177
20 years$3,637$2,941$2,360$1,880$1,490$1,028
21 years$3,427$2,739$2,171$1,707$1,333$900
22 years$3,237$2,557$2,000$1,552$1,195$788
23 years$3,063$2,392$1,847$1,413$1,073$691
24 years$2,904$2,241$1,708$1,289$964$607
25 years$2,759$2,103$1,582$1,177$868$533
26 years$2,624$1,976$1,467$1,076$781$469
27 years$2,500$1,860$1,363$985$705$412
28 years$2,385$1,753$1,267$903$636$363
29 years$2,278$1,653$1,179$828$574$320
30 years$2,178$1,561$1,098$760$519$282
31 years$2,085$1,476$1,024$698$469$248
32 years$1,998$1,397$955$641$424$219
33 years$1,916$1,323$892$590$384$193
34 years$1,840$1,254$833$543$348$170
35 years$1,767$1,189$779$499$315$150
36 years$1,699$1,129$729$460$285$133
37 years$1,635$1,072$682$424$259$117
38 years$1,575$1,019$639$391$234$104
39 years$1,517$969$598$360$213$91
40 years$1,463$922$561$332$193$81
41 years$1,411$877$526$306$175$71
42 years$1,362$835$493$283$159$63
43 years$1,316$796$463$261$144$56
44 years$1,271$759$435$241$131$49
45 years$1,229$724$408$223$119$44
46 years$1,189$690$383$206$108$38
47 years$1,150$659$360$190$98$34
48 years$1,113$629$338$176$89$30
49 years$1,078$600$318$162$81$27
50 years$1,045$574$299$150$73$23

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 $3,750 every year, while hoping to spend $50,289 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: 49/41/10 Blend
46$1,070,000$1,070,000$1,070,000$1,070,000
47$1,183,008$1,126,298$1,109,713$1,237,615
48$1,250,168$1,127,980$1,093,381$1,277,128
49$1,322,492$1,128,058$1,074,817$1,314,421
50$1,400,455$1,126,402$1,053,892$1,353,772
51$1,484,577$1,122,871$1,030,473$1,395,389
52$1,575,430$1,117,317$1,004,420$1,439,502
53$1,673,642$1,109,583$975,585$1,486,368
54$1,779,902$1,099,503$943,817$1,536,272
55$1,894,972$1,086,897$908,954$1,589,532
56$2,019,684$1,071,580$870,829$1,646,500
57$2,154,957$1,053,353$829,267$1,707,568
58$2,301,799$1,032,004$784,084$1,773,172
59$2,461,321$1,007,311$735,089$1,843,795
60$2,634,743$979,037$682,083$1,919,976
61$2,823,409$946,932$624,855$2,002,309
62$3,028,797$910,731$563,187$2,091,456
63$3,252,532$870,155$496,852$2,188,153
64$3,496,405$824,907$425,611$2,293,212
65$3,762,384$774,673$349,214$2,407,538
66$4,052,637$719,122$267,403$2,532,132
67$4,369,551$657,903$179,906$2,668,103
68$4,715,751$590,647$86,439$2,816,681
69$5,094,130$516,961$0$2,979,229
70$5,507,870$436,431$0$3,158,676
71$5,960,478$348,621$0$3,365,209
72$6,455,811$253,068$0$3,591,480
73$6,998,121$149,286$0$3,839,575
74$7,592,087$36,758$0$4,111,798
75$8,242,862$0$0$4,410,698
76$8,956,122$0$0$4,777,469
77$9,738,119$0$0$5,197,884
78$10,595,735$0$0$5,659,074
79$11,536,555$0$0$6,165,132
80$12,568,930$0$0$6,720,566
81$13,702,061$0$0$7,330,342
82$14,946,080$0$0$7,999,930
83$16,312,151$0$0$8,735,355
84$17,812,571$0$0$9,543,256
85$19,460,886$0$0$10,430,945
86$21,272,020$0$0$11,406,478
87$23,262,412$0$0$12,478,731
88$25,450,174$0$0$13,657,479
89$27,855,260$0$0$14,953,497
90$30,499,654$0$0$16,378,652
91$33,407,575$0$0$17,946,019
92$36,605,709$0$0$19,670,005
93$40,123,455$0$0$21,566,482
94$43,993,206$0$0$23,652,940
95$48,250,652$0$0$25,948,646
96$52,935,117$0$0$28,474,833
97$58,089,928$0$0$31,254,892
98$63,762,827$0$0$34,314,600
99$70,006,414$0$0$37,682,357
100$76,878,650$0$0$41,389,456