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

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 $1,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$89,185$88,391$87,616$86,859$86,121$85,614
2 years$44,151$43,329$42,532$41,759$41,010$40,499
3 years$29,142$28,316$27,521$26,756$26,018$25,518
4 years$21,638$20,815$20,028$19,276$18,557$18,072
5 years$17,138$16,319$15,543$14,806$14,106$13,638
6 years$14,138$13,326$12,561$11,840$11,162$10,711
7 years$11,997$11,191$10,438$9,735$9,078$8,644
8 years$10,391$9,593$8,852$8,166$7,531$7,115
9 years$9,143$8,352$7,625$6,956$6,342$5,943
10 years$8,145$7,362$6,647$5,996$5,404$5,022
11 years$7,329$6,554$5,852$5,218$4,647$4,283
12 years$6,650$5,883$5,194$4,577$4,027$3,679
13 years$6,075$5,316$4,640$4,041$3,512$3,180
14 years$5,583$4,832$4,169$3,587$3,078$2,762
15 years$5,157$4,414$3,764$3,199$2,711$2,410
16 years$4,785$4,050$3,413$2,864$2,396$2,110
17 years$4,457$3,730$3,106$2,574$2,124$1,853
18 years$4,165$3,447$2,835$2,319$1,889$1,632
19 years$3,905$3,194$2,595$2,096$1,683$1,440
20 years$3,671$2,968$2,382$1,898$1,504$1,274
21 years$3,459$2,765$2,191$1,723$1,346$1,128
22 years$3,267$2,581$2,019$1,566$1,206$1,001
23 years$3,092$2,414$1,864$1,426$1,083$889
24 years$2,932$2,262$1,724$1,301$973$791
25 years$2,784$2,122$1,597$1,188$876$704
26 years$2,649$1,995$1,481$1,086$789$627
27 years$2,523$1,877$1,375$994$711$559
28 years$2,407$1,769$1,279$911$642$499
29 years$2,299$1,669$1,190$835$579$446
30 years$2,198$1,576$1,108$767$524$398
31 years$2,104$1,490$1,033$704$473$356
32 years$2,017$1,410$964$647$428$318
33 years$1,934$1,335$900$595$387$285
34 years$1,857$1,265$841$548$351$255
35 years$1,784$1,200$786$504$318$228
36 years$1,715$1,139$736$464$288$204
37 years$1,651$1,082$688$428$261$183
38 years$1,589$1,028$645$394$237$164
39 years$1,531$978$604$364$215$147
40 years$1,477$930$566$335$195$132
41 years$1,424$885$531$309$177$118
42 years$1,375$843$498$285$160$106
43 years$1,328$803$467$264$145$95
44 years$1,283$766$439$243$132$85
45 years$1,241$730$412$225$120$76
46 years$1,200$697$387$208$109$69
47 years$1,161$665$363$192$99$61
48 years$1,124$635$341$177$90$55
49 years$1,088$606$321$164$81$49
50 years$1,054$579$302$151$74$44

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 $5,086 every year, while hoping to spend $56,469 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: 65/9/26 Blend
46$1,080,000$1,080,000$1,080,000$1,080,000
47$1,195,406$1,138,166$1,121,426$1,264,646
48$1,257,255$1,133,854$1,098,911$1,307,679
49$1,323,520$1,127,437$1,073,750$1,347,928
50$1,394,592$1,118,754$1,045,793$1,390,660
51$1,470,899$1,107,632$1,014,886$1,436,123
52$1,552,912$1,093,888$980,866$1,484,596
53$1,641,148$1,077,328$943,565$1,536,383
54$1,736,175$1,057,746$902,803$1,591,824
55$1,838,614$1,034,925$858,396$1,651,295
56$1,949,150$1,008,634$810,151$1,715,213
57$2,068,536$978,630$757,863$1,784,038
58$2,197,597$944,653$701,322$1,858,283
59$2,337,242$906,430$640,306$1,938,511
60$2,488,468$863,673$574,583$2,025,348
61$2,652,373$816,075$503,914$2,119,488
62$2,830,164$763,311$428,044$2,221,697
63$3,023,169$705,041$346,711$2,332,822
64$3,232,846$640,902$259,640$2,453,800
65$3,460,801$570,511$166,543$2,585,670
66$3,708,802$493,465$67,121$2,729,578
67$3,978,791$409,336$0$2,886,791
68$4,272,907$317,673$0$3,069,527
69$4,593,503$217,999$0$3,289,094
70$4,943,171$109,811$0$3,528,660
71$5,324,760$0$0$3,790,215
72$5,741,409$0$0$4,076,690
73$6,196,572$0$0$4,401,593
74$6,694,052$0$0$4,756,772
75$7,238,037$0$0$5,145,225
76$7,833,135$0$0$5,570,254
77$8,484,423$0$0$6,035,492
78$9,197,490$0$0$6,544,942
79$9,978,491$0$0$7,103,012
80$10,834,204$0$0$7,714,555
81$11,772,094$0$0$8,384,917
82$12,800,382$0$0$9,119,985
83$13,928,123$0$0$9,926,244
84$15,165,289$0$0$10,810,837
85$16,522,866$0$0$11,781,630
86$18,012,954$0$0$12,847,288
87$19,648,880$0$0$14,017,357
88$21,445,327$0$0$15,302,352
89$23,418,468$0$0$16,713,856
90$25,586,119$0$0$18,264,630
91$27,967,908$0$0$19,968,730
92$30,585,457$0$0$21,841,643
93$33,462,589$0$0$23,900,431
94$36,625,547$0$0$26,163,890
95$40,103,244$0$0$28,652,728
96$43,927,536$0$0$31,389,762
97$48,133,519$0$0$34,400,128
98$52,759,861$0$0$37,711,523
99$57,849,168$0$0$41,354,462
100$63,448,379$0$0$45,362,566