Can I retire at age 47 with 1,080,000?

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 $1,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$89,185$88,391$87,616$86,859$86,121$84,694
2 years$44,151$43,329$42,532$41,759$41,010$39,577
3 years$29,142$28,316$27,521$26,756$26,018$24,623
4 years$21,638$20,815$20,028$19,276$18,557$17,210
5 years$17,138$16,319$15,543$14,806$14,106$12,813
6 years$14,138$13,326$12,561$11,840$11,162$9,923
7 years$11,997$11,191$10,438$9,735$9,078$7,893
8 years$10,391$9,593$8,852$8,166$7,531$6,400
9 years$9,143$8,352$7,625$6,956$6,342$5,265
10 years$8,145$7,362$6,647$5,996$5,404$4,380
11 years$7,329$6,554$5,852$5,218$4,647$3,675
12 years$6,650$5,883$5,194$4,577$4,027$3,106
13 years$6,075$5,316$4,640$4,041$3,512$2,639
14 years$5,583$4,832$4,169$3,587$3,078$2,254
15 years$5,157$4,414$3,764$3,199$2,711$1,932
16 years$4,785$4,050$3,413$2,864$2,396$1,661
17 years$4,457$3,730$3,106$2,574$2,124$1,433
18 years$4,165$3,447$2,835$2,319$1,889$1,238
19 years$3,905$3,194$2,595$2,096$1,683$1,072
20 years$3,671$2,968$2,382$1,898$1,504$930
21 years$3,459$2,765$2,191$1,723$1,346$808
22 years$3,267$2,581$2,019$1,566$1,206$703
23 years$3,092$2,414$1,864$1,426$1,083$612
24 years$2,932$2,262$1,724$1,301$973$534
25 years$2,784$2,122$1,597$1,188$876$466
26 years$2,649$1,995$1,481$1,086$789$407
27 years$2,523$1,877$1,375$994$711$355
28 years$2,407$1,769$1,279$911$642$310
29 years$2,299$1,669$1,190$835$579$271
30 years$2,198$1,576$1,108$767$524$237
31 years$2,104$1,490$1,033$704$473$208
32 years$2,017$1,410$964$647$428$182
33 years$1,934$1,335$900$595$387$159
34 years$1,857$1,265$841$548$351$139
35 years$1,784$1,200$786$504$318$122
36 years$1,715$1,139$736$464$288$107
37 years$1,651$1,082$688$428$261$94
38 years$1,589$1,028$645$394$237$82
39 years$1,531$978$604$364$215$72
40 years$1,477$930$566$335$195$63
41 years$1,424$885$531$309$177$55
42 years$1,375$843$498$285$160$49
43 years$1,328$803$467$264$145$43
44 years$1,283$766$439$243$132$37
45 years$1,241$730$412$225$120$33
46 years$1,200$697$387$208$109$29
47 years$1,161$665$363$192$99$25
48 years$1,124$635$341$177$90$22
49 years$1,088$606$321$164$81$19
50 years$1,054$579$302$151$74$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,080,000, adding $2,731 every year, while hoping to spend $52,246 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: 80/14/6 Blend
46$1,080,000$1,080,000$1,080,000$1,080,000
47$1,192,977$1,135,737$1,118,997$1,287,657
48$1,259,071$1,135,799$1,100,894$1,350,096
49$1,330,156$1,134,113$1,080,434$1,411,407
50$1,406,686$1,130,537$1,057,482$1,477,090
51$1,489,158$1,124,924$1,031,897$1,547,555
52$1,578,120$1,117,114$1,003,534$1,623,253
53$1,674,175$1,106,938$972,239$1,704,679
54$1,777,982$1,094,220$937,850$1,792,380
55$1,890,268$1,078,769$900,200$1,886,958
56$2,011,832$1,060,385$859,114$1,989,078
57$2,143,551$1,038,856$814,406$2,099,471
58$2,286,391$1,013,957$765,886$2,218,942
59$2,441,412$985,451$713,353$2,348,381
60$2,609,783$953,085$656,597$2,488,767
61$2,792,787$916,592$595,399$2,641,179
62$2,991,836$875,690$529,531$2,806,807
63$3,208,486$830,082$458,752$2,986,963
64$3,444,446$779,450$382,814$3,183,092
65$3,701,597$723,460$301,457$3,396,789
66$3,982,011$661,761$214,406$3,629,812
67$4,287,967$593,978$121,380$3,884,096
68$4,621,974$519,718$22,081$4,161,779
69$4,986,794$438,562$0$4,465,214
70$5,385,467$350,072$0$4,802,369
71$5,821,340$253,780$0$5,172,592
72$6,298,098$149,198$0$5,577,645
73$6,819,800$35,804$0$6,021,029
74$7,390,913$0$0$6,506,603
75$8,016,358$0$0$7,052,015
76$8,701,553$0$0$7,655,604
77$9,452,465$0$0$8,317,114
78$10,275,665$0$0$9,042,338
79$11,178,392$0$0$9,837,656
80$12,168,617$0$0$10,710,096
81$13,255,121$0$0$11,667,398
82$14,447,575$0$0$12,718,089
83$15,756,634$0$0$13,871,560
84$17,194,031$0$0$15,138,156
85$18,772,695$0$0$16,529,273
86$20,506,867$0$0$18,057,466
87$22,412,233$0$0$19,736,563
88$24,506,078$0$0$21,581,801
89$26,807,440$0$0$23,609,966
90$29,337,296$0$0$25,839,547
91$32,118,756$0$0$28,290,919
92$35,177,280$0$0$30,986,527
93$38,540,919$0$0$33,951,100
94$42,240,579$0$0$37,211,883
95$46,310,312$0$0$40,798,896
96$50,787,635$0$0$44,745,214
97$55,713,886$0$0$49,087,278
98$61,134,611$0$0$53,865,241
99$67,099,994$0$0$59,123,345
100$73,665,330$0$0$64,910,337