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%13.8%
1 years$89,185$88,391$87,616$86,859$86,121$84,764
2 years$44,151$43,329$42,532$41,759$41,010$39,646
3 years$29,142$28,316$27,521$26,756$26,018$24,691
4 years$21,638$20,815$20,028$19,276$18,557$17,275
5 years$17,138$16,319$15,543$14,806$14,106$12,874
6 years$14,138$13,326$12,561$11,840$11,162$9,981
7 years$11,997$11,191$10,438$9,735$9,078$7,948
8 years$10,391$9,593$8,852$8,166$7,531$6,453
9 years$9,143$8,352$7,625$6,956$6,342$5,315
10 years$8,145$7,362$6,647$5,996$5,404$4,426
11 years$7,329$6,554$5,852$5,218$4,647$3,719
12 years$6,650$5,883$5,194$4,577$4,027$3,147
13 years$6,075$5,316$4,640$4,041$3,512$2,678
14 years$5,583$4,832$4,169$3,587$3,078$2,289
15 years$5,157$4,414$3,764$3,199$2,711$1,965
16 years$4,785$4,050$3,413$2,864$2,396$1,692
17 years$4,457$3,730$3,106$2,574$2,124$1,462
18 years$4,165$3,447$2,835$2,319$1,889$1,265
19 years$3,905$3,194$2,595$2,096$1,683$1,097
20 years$3,671$2,968$2,382$1,898$1,504$953
21 years$3,459$2,765$2,191$1,723$1,346$830
22 years$3,267$2,581$2,019$1,566$1,206$723
23 years$3,092$2,414$1,864$1,426$1,083$630
24 years$2,932$2,262$1,724$1,301$973$550
25 years$2,784$2,122$1,597$1,188$876$481
26 years$2,649$1,995$1,481$1,086$789$420
27 years$2,523$1,877$1,375$994$711$368
28 years$2,407$1,769$1,279$911$642$322
29 years$2,299$1,669$1,190$835$579$282
30 years$2,198$1,576$1,108$767$524$247
31 years$2,104$1,490$1,033$704$473$217
32 years$2,017$1,410$964$647$428$190
33 years$1,934$1,335$900$595$387$167
34 years$1,857$1,265$841$548$351$146
35 years$1,784$1,200$786$504$318$128
36 years$1,715$1,139$736$464$288$112
37 years$1,651$1,082$688$428$261$99
38 years$1,589$1,028$645$394$237$87
39 years$1,531$978$604$364$215$76
40 years$1,477$930$566$335$195$67
41 years$1,424$885$531$309$177$59
42 years$1,375$843$498$285$160$52
43 years$1,328$803$467$264$145$45
44 years$1,283$766$439$243$132$40
45 years$1,241$730$412$225$120$35
46 years$1,200$697$387$208$109$31
47 years$1,161$665$363$192$99$27
48 years$1,124$635$341$177$90$24
49 years$1,088$606$321$164$81$21
50 years$1,054$579$302$151$74$18

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 $3,385 every year, while hoping to spend $37,038 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: 53/41/6 Blend
46$1,080,000$1,080,000$1,080,000$1,080,000
47$1,193,652$1,136,412$1,119,672$1,255,088
48$1,275,996$1,152,688$1,117,772$1,313,332
49$1,365,498$1,168,520$1,114,568$1,372,312
50$1,462,849$1,183,847$1,109,976$1,435,575
51$1,568,809$1,198,605$1,103,910$1,503,534
52$1,684,214$1,212,724$1,096,278$1,576,640
53$1,809,985$1,226,129$1,086,985$1,655,394
54$1,947,136$1,238,741$1,075,930$1,740,348
55$2,096,780$1,250,476$1,063,011$1,832,109
56$2,260,146$1,261,244$1,048,116$1,931,350
57$2,438,585$1,270,948$1,031,131$2,038,810
58$2,633,583$1,279,487$1,011,937$2,155,308
59$2,846,778$1,286,751$990,406$2,281,745
60$3,079,973$1,292,626$966,408$2,419,116
61$3,335,153$1,296,987$939,806$2,568,519
62$3,614,503$1,299,704$910,454$2,731,167
63$3,920,431$1,300,638$878,203$2,908,395
64$4,255,586$1,299,641$842,894$3,101,678
65$4,622,889$1,296,556$804,364$3,312,644
66$5,025,553$1,291,217$762,440$3,543,088
67$5,467,120$1,283,447$716,942$3,794,992
68$5,951,489$1,273,058$667,682$4,070,540
69$6,482,955$1,259,853$614,463$4,372,144
70$7,066,250$1,243,619$557,081$4,702,464
71$7,706,585$1,224,133$495,321$5,064,435
72$8,409,700$1,201,160$428,958$5,461,294
73$9,181,921$1,174,448$357,759$5,896,612
74$10,030,212$1,143,731$281,480$6,374,330
75$10,962,249$1,108,729$199,864$6,898,792
76$11,986,485$1,069,144$112,647$7,474,793
77$13,112,236$1,024,661$19,550$8,107,619
78$14,349,762$974,947$0$8,803,104
79$15,710,367$919,650$0$9,572,788
80$17,206,508$858,396$0$10,420,325
81$18,851,906$790,791$0$11,352,308
82$20,661,681$716,420$0$12,377,387
83$22,652,489$634,841$0$13,505,102
84$24,842,683$545,590$0$14,745,973
85$27,252,487$448,173$0$16,111,599
86$29,904,180$342,073$0$17,614,769
87$32,822,311$226,739$0$19,269,586
88$36,033,931$101,594$0$21,091,600
89$39,568,844$0$0$23,097,955
90$43,459,891$0$0$25,322,883
91$47,743,258$0$0$27,822,727
92$52,458,817$0$0$30,574,937
93$57,650,505$0$0$33,605,173
94$63,366,733$0$0$36,941,709
95$69,660,847$0$0$40,615,698
96$76,591,627$0$0$44,661,472
97$84,223,846$0$0$49,116,858
98$92,628,878$0$0$54,023,540
99$101,885,370$0$0$59,427,453
100$112,079,987$0$0$65,379,210