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

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 $1,110,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$91,663$90,846$90,050$89,272$88,513$86,408
2 years$45,378$44,532$43,713$42,919$42,149$40,041
3 years$29,951$29,102$28,285$27,499$26,741$24,695
4 years$22,240$21,393$20,585$19,811$19,072$17,104
5 years$17,614$16,773$15,974$15,217$14,498$12,614
6 years$14,531$13,696$12,910$12,169$11,472$9,674
7 years$12,330$11,502$10,728$10,005$9,330$7,617
8 years$10,680$9,859$9,098$8,393$7,740$6,113
9 years$9,397$8,584$7,836$7,149$6,518$4,975
10 years$8,371$7,567$6,832$6,162$5,554$4,093
11 years$7,533$6,736$6,015$5,363$4,776$3,395
12 years$6,834$6,046$5,338$4,704$4,139$2,836
13 years$6,244$5,464$4,769$4,153$3,609$2,381
14 years$5,738$4,966$4,285$3,687$3,164$2,009
15 years$5,300$4,537$3,869$3,288$2,786$1,700
16 years$4,918$4,163$3,508$2,944$2,462$1,444
17 years$4,580$3,834$3,192$2,645$2,183$1,229
18 years$4,281$3,542$2,914$2,384$1,941$1,049
19 years$4,013$3,283$2,667$2,154$1,730$896
20 years$3,773$3,051$2,448$1,951$1,545$767
21 years$3,555$2,842$2,252$1,770$1,383$657
22 years$3,358$2,653$2,075$1,610$1,240$564
23 years$3,178$2,481$1,916$1,466$1,113$484
24 years$3,013$2,324$1,772$1,337$1,000$416
25 years$2,862$2,181$1,641$1,221$900$358
26 years$2,722$2,050$1,522$1,117$811$308
27 years$2,593$1,929$1,414$1,022$731$265
28 years$2,474$1,818$1,314$936$660$228
29 years$2,363$1,715$1,223$859$596$197
30 years$2,259$1,620$1,139$788$538$170
31 years$2,163$1,531$1,062$724$486$146
32 years$2,073$1,449$991$665$440$126
33 years$1,988$1,372$925$612$398$109
34 years$1,908$1,300$864$563$361$94
35 years$1,833$1,233$808$518$327$81
36 years$1,763$1,171$756$477$296$70
37 years$1,696$1,112$708$440$268$60
38 years$1,633$1,057$663$405$243$52
39 years$1,574$1,005$621$374$220$45
40 years$1,518$956$582$345$200$39
41 years$1,464$910$546$318$181$33
42 years$1,413$867$512$293$165$29
43 years$1,365$826$480$271$149$25
44 years$1,319$787$451$250$136$22
45 years$1,275$751$423$231$123$19
46 years$1,233$716$398$213$112$16
47 years$1,193$683$373$197$102$14
48 years$1,155$652$351$182$92$12
49 years$1,119$623$330$168$84$10
50 years$1,084$595$310$156$76$9

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 $5,899 every year, while hoping to spend $31,934 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: 32/38/30 Blend
46$1,110,000$1,110,000$1,110,000$1,110,000
47$1,229,305$1,170,475$1,153,270$1,257,275
48$1,320,716$1,193,851$1,157,927$1,302,729
49$1,420,382$1,217,301$1,161,670$1,348,448
50$1,529,109$1,240,797$1,164,434$1,397,081
51$1,647,787$1,264,306$1,166,152$1,448,905
52$1,777,396$1,287,792$1,166,752$1,504,230
53$1,919,014$1,311,216$1,166,162$1,563,399
54$2,073,826$1,334,539$1,164,301$1,626,789
55$2,243,141$1,357,716$1,161,090$1,694,818
56$2,428,395$1,380,698$1,156,440$1,767,947
57$2,631,174$1,403,435$1,150,264$1,846,688
58$2,853,222$1,425,871$1,142,465$1,931,603
59$3,096,459$1,447,947$1,132,946$2,023,316
60$3,363,000$1,469,599$1,121,602$2,122,515
61$3,655,176$1,490,759$1,108,326$2,229,962
62$3,975,552$1,511,354$1,093,003$2,346,496
63$4,326,954$1,531,307$1,075,514$2,473,047
64$4,712,495$1,550,532$1,055,736$2,610,640
65$5,135,603$1,568,942$1,033,537$2,760,408
66$5,600,055$1,586,441$1,008,780$2,923,603
67$6,110,011$1,602,926$981,324$3,101,607
68$6,670,052$1,618,290$951,019$3,295,947
69$7,285,228$1,632,416$917,709$3,508,308
70$7,961,099$1,645,182$881,229$3,740,551
71$8,703,791$1,656,456$841,410$3,994,732
72$9,520,053$1,666,098$798,073$4,273,119
73$10,417,321$1,673,960$751,032$4,578,219
74$11,403,787$1,679,882$700,090$4,912,795
75$12,488,474$1,683,698$645,045$5,279,900
76$13,681,328$1,685,228$585,682$5,682,904
77$14,993,301$1,684,283$521,781$6,125,525
78$16,436,465$1,680,660$453,108$6,611,868
79$18,024,118$1,674,146$379,421$7,146,461
80$19,770,913$1,664,513$300,465$7,734,302
81$21,692,993$1,651,521$215,978$8,380,907
82$23,808,146$1,634,914$125,681$9,092,361
83$26,135,973$1,614,421$29,288$9,875,379
84$28,698,069$1,589,754$0$10,737,367
85$31,518,231$1,560,611$0$11,710,054
86$34,622,677$1,526,667$0$12,790,436
87$38,040,298$1,487,582$0$13,979,181
88$41,802,929$1,442,994$0$15,287,370
89$45,945,648$1,392,521$0$16,727,218
90$50,507,107$1,335,758$0$18,312,194
91$55,529,898$1,272,275$0$20,057,146
92$61,060,951$1,201,621$0$21,978,443
93$67,151,983$1,123,315$0$24,094,128
94$73,859,979$1,036,851$0$26,424,094
95$81,247,733$941,693$0$28,990,271
96$89,384,440$837,274$0$31,816,832
97$98,346,348$722,996$0$34,930,426
98$108,217,479$598,226$0$38,360,429
99$119,090,419$462,296$0$42,139,224
100$131,067,194$314,501$0$46,302,504