Can I retire at age 47 with 1,110,000?

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 $1,110,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$91,663$90,846$90,050$89,272$88,513$87,662
2 years$45,378$44,532$43,713$42,919$42,149$41,291
3 years$29,951$29,102$28,285$27,499$26,741$25,904
4 years$22,240$21,393$20,585$19,811$19,072$18,261
5 years$17,614$16,773$15,974$15,217$14,498$13,717
6 years$14,531$13,696$12,910$12,169$11,472$10,721
7 years$12,330$11,502$10,728$10,005$9,330$8,609
8 years$10,680$9,859$9,098$8,393$7,740$7,050
9 years$9,397$8,584$7,836$7,149$6,518$5,858
10 years$8,371$7,567$6,832$6,162$5,554$4,923
11 years$7,533$6,736$6,015$5,363$4,776$4,175
12 years$6,834$6,046$5,338$4,704$4,139$3,567
13 years$6,244$5,464$4,769$4,153$3,609$3,065
14 years$5,738$4,966$4,285$3,687$3,164$2,647
15 years$5,300$4,537$3,869$3,288$2,786$2,295
16 years$4,918$4,163$3,508$2,944$2,462$1,997
17 years$4,580$3,834$3,192$2,645$2,183$1,743
18 years$4,281$3,542$2,914$2,384$1,941$1,525
19 years$4,013$3,283$2,667$2,154$1,730$1,337
20 years$3,773$3,051$2,448$1,951$1,545$1,175
21 years$3,555$2,842$2,252$1,770$1,383$1,034
22 years$3,358$2,653$2,075$1,610$1,240$911
23 years$3,178$2,481$1,916$1,466$1,113$804
24 years$3,013$2,324$1,772$1,337$1,000$710
25 years$2,862$2,181$1,641$1,221$900$628
26 years$2,722$2,050$1,522$1,117$811$555
27 years$2,593$1,929$1,414$1,022$731$492
28 years$2,474$1,818$1,314$936$660$436
29 years$2,363$1,715$1,223$859$596$386
30 years$2,259$1,620$1,139$788$538$343
31 years$2,163$1,531$1,062$724$486$304
32 years$2,073$1,449$991$665$440$270
33 years$1,988$1,372$925$612$398$240
34 years$1,908$1,300$864$563$361$213
35 years$1,833$1,233$808$518$327$189
36 years$1,763$1,171$756$477$296$168
37 years$1,696$1,112$708$440$268$150
38 years$1,633$1,057$663$405$243$133
39 years$1,574$1,005$621$374$220$118
40 years$1,518$956$582$345$200$105
41 years$1,464$910$546$318$181$94
42 years$1,413$867$512$293$165$83
43 years$1,365$826$480$271$149$74
44 years$1,319$787$451$250$136$66
45 years$1,275$751$423$231$123$59
46 years$1,233$716$398$213$112$52
47 years$1,193$683$373$197$102$46
48 years$1,155$652$351$182$92$41
49 years$1,119$623$330$168$84$37
50 years$1,084$595$310$156$76$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,110,000, adding $6,507 every year, while hoping to spend $28,708 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: 37/43/20 Blend
46$1,110,000$1,110,000$1,110,000$1,110,000
47$1,229,932$1,171,102$1,153,897$1,267,812
48$1,324,840$1,197,941$1,162,007$1,322,733
49$1,428,466$1,225,133$1,169,427$1,378,848
50$1,541,670$1,252,664$1,176,103$1,438,870
51$1,665,397$1,280,522$1,181,979$1,503,165
52$1,800,688$1,308,688$1,186,996$1,572,140
53$1,948,690$1,337,145$1,191,092$1,646,240
54$2,110,664$1,365,872$1,194,201$1,725,958
55$2,288,000$1,394,849$1,196,256$1,811,836
56$2,482,229$1,424,050$1,197,184$1,904,473
57$2,695,037$1,453,448$1,196,909$2,004,528
58$2,928,279$1,483,016$1,195,354$2,112,729
59$3,183,999$1,512,720$1,192,435$2,229,877
60$3,464,450$1,542,526$1,188,064$2,356,858
61$3,772,111$1,572,396$1,182,151$2,494,647
62$4,109,713$1,602,290$1,174,600$2,644,318
63$4,480,265$1,632,164$1,165,311$2,807,060
64$4,887,082$1,661,970$1,154,178$2,984,179
65$5,333,813$1,691,655$1,141,092$3,177,118
66$5,824,481$1,721,165$1,125,937$3,387,468
67$6,363,516$1,750,440$1,108,594$3,616,984
68$6,955,797$1,779,414$1,088,934$3,867,601
69$7,606,702$1,808,019$1,066,828$4,141,451
70$8,322,154$1,836,181$1,042,135$4,440,889
71$9,108,679$1,863,818$1,014,711$4,768,509
72$9,973,465$1,890,846$984,405$5,127,174
73$10,924,434$1,917,174$951,058$5,520,037
74$11,970,313$1,942,702$914,505$5,950,580
75$13,120,717$1,967,326$874,573$6,422,640
76$14,386,239$1,990,933$831,079$6,940,448
77$15,778,551$2,013,405$783,836$7,508,670
78$17,310,513$2,034,612$732,645$8,132,453
79$18,996,296$2,054,419$677,300$8,817,468
80$20,851,513$2,072,680$617,584$9,569,973
81$22,893,366$2,089,240$553,271$10,396,864
82$25,140,810$2,103,934$484,127$11,305,748
83$27,614,732$2,116,586$409,905$12,305,011
84$30,338,145$2,127,008$330,347$13,403,899
85$33,336,408$2,135,004$245,185$14,612,607
86$36,637,462$2,140,359$154,139$15,942,374
87$40,272,097$2,142,851$56,917$17,405,592
88$44,274,239$2,142,239$0$19,015,925
89$48,681,273$2,138,270$0$20,798,431
90$53,534,394$2,130,676$0$22,773,332
91$58,878,992$2,119,170$0$24,946,849
92$64,765,089$2,103,449$0$27,339,239
93$71,247,802$2,083,191$0$29,972,831
94$78,387,866$2,058,056$0$32,872,235
95$86,252,210$2,027,682$0$36,064,576
96$94,914,583$1,991,687$0$39,579,752
97$104,456,255$1,949,664$0$43,450,716
98$114,966,780$1,901,184$0$47,713,788
99$126,544,841$1,845,792$0$52,409,001
100$139,299,186$1,783,007$0$57,580,476