Can I retire at age 47 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$92,489$91,665$90,861$90,076$89,310$86,975
2 years$45,786$44,934$44,107$43,306$42,529$40,192
3 years$30,221$29,365$28,540$27,747$26,982$24,717
4 years$22,440$21,586$20,770$19,990$19,244$17,067
5 years$17,772$16,924$16,118$15,354$14,629$12,547
6 years$14,662$13,820$13,026$12,279$11,575$9,591
7 years$12,441$11,606$10,825$10,095$9,414$7,527
8 years$10,776$9,948$9,180$8,469$7,810$6,019
9 years$9,482$8,662$7,907$7,213$6,577$4,881
10 years$8,447$7,635$6,893$6,218$5,604$4,000
11 years$7,601$6,797$6,069$5,411$4,819$3,306
12 years$6,896$6,100$5,386$4,747$4,176$2,750
13 years$6,300$5,513$4,812$4,191$3,642$2,300
14 years$5,790$5,011$4,324$3,720$3,193$1,932
15 years$5,348$4,578$3,904$3,317$2,811$1,629
16 years$4,962$4,200$3,539$2,970$2,484$1,377
17 years$4,622$3,868$3,221$2,669$2,203$1,167
18 years$4,319$3,574$2,940$2,405$1,959$991
19 years$4,049$3,313$2,691$2,173$1,746$843
20 years$3,807$3,078$2,470$1,968$1,559$719
21 years$3,587$2,867$2,272$1,786$1,395$613
22 years$3,388$2,677$2,094$1,624$1,251$524
23 years$3,206$2,503$1,933$1,479$1,123$447
24 years$3,040$2,345$1,788$1,349$1,009$383
25 years$2,888$2,201$1,656$1,232$908$328
26 years$2,747$2,069$1,536$1,127$818$280
27 years$2,617$1,947$1,426$1,031$737$240
28 years$2,496$1,834$1,326$945$665$206
29 years$2,384$1,731$1,234$866$601$177
30 years$2,280$1,634$1,149$795$543$151
31 years$2,182$1,545$1,071$730$491$130
32 years$2,091$1,462$1,000$671$444$111
33 years$2,006$1,384$933$617$402$96
34 years$1,925$1,312$872$568$364$82
35 years$1,850$1,245$815$523$330$70
36 years$1,779$1,181$763$481$299$61
37 years$1,712$1,122$714$444$271$52
38 years$1,648$1,066$669$409$245$45
39 years$1,588$1,014$626$377$222$38
40 years$1,531$965$587$348$202$33
41 years$1,477$918$551$321$183$28
42 years$1,426$874$516$296$166$24
43 years$1,377$833$485$273$151$21
44 years$1,331$794$455$252$137$18
45 years$1,286$757$427$233$124$15
46 years$1,244$723$401$215$113$13
47 years$1,204$689$377$199$102$11
48 years$1,166$658$354$184$93$10
49 years$1,129$629$333$170$84$8
50 years$1,094$600$313$157$77$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,120,000, adding $3,679 every year, while hoping to spend $37,908 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: 47/38/15 Blend
46$1,120,000$1,120,000$1,120,000$1,120,000
47$1,238,035$1,178,675$1,161,315$1,290,832
48$1,323,981$1,196,096$1,159,885$1,345,229
49$1,417,422$1,213,101$1,157,137$1,400,069
50$1,519,085$1,229,628$1,152,986$1,458,763
51$1,629,764$1,245,613$1,147,345$1,521,682
52$1,750,339$1,260,987$1,140,119$1,589,241
53$1,881,775$1,275,675$1,131,214$1,661,894
54$2,025,133$1,289,601$1,120,527$1,740,145
55$2,181,583$1,302,678$1,107,951$1,824,550
56$2,352,412$1,314,817$1,093,375$1,915,721
57$2,539,038$1,325,923$1,076,683$2,014,338
58$2,743,020$1,335,893$1,057,752$2,121,148
59$2,966,075$1,344,619$1,036,454$2,236,979
60$3,210,096$1,351,986$1,012,656$2,362,742
61$3,477,163$1,357,871$986,217$2,499,445
62$3,769,569$1,362,142$956,991$2,648,202
63$4,089,840$1,364,662$924,825$2,810,241
64$4,440,754$1,365,281$889,558$2,986,919
65$4,825,376$1,363,845$851,023$3,179,733
66$5,247,076$1,360,185$809,044$3,390,336
67$5,709,570$1,354,126$763,439$3,620,553
68$6,216,947$1,345,479$714,015$3,872,399
69$6,773,714$1,334,046$660,573$4,148,098
70$7,384,835$1,319,616$602,904$4,450,105
71$8,055,777$1,301,966$540,790$4,781,127
72$8,792,561$1,280,858$474,002$5,144,155
73$9,601,824$1,256,041$402,302$5,542,488
74$10,490,872$1,227,249$325,441$5,979,766
75$11,467,757$1,194,201$243,160$6,460,009
76$12,541,350$1,156,598$155,187$6,987,648
77$13,721,421$1,114,125$61,240$7,567,576
78$15,018,736$1,066,447$0$8,205,190
79$16,445,157$1,013,212$0$8,912,689
80$18,013,748$954,046$0$9,701,263
81$19,738,909$888,552$0$10,568,400
82$21,636,501$816,314$0$11,522,148
83$23,724,000$736,889$0$12,571,382
84$26,020,661$649,811$0$13,725,890
85$28,547,702$554,585$0$14,996,463
86$31,328,499$450,690$0$16,395,001
87$34,388,808$337,577$0$17,934,623
88$37,757,010$214,661$0$19,629,798
89$41,464,376$81,330$0$21,496,476
90$45,545,362$0$0$23,552,245
91$50,037,934$0$0$25,842,866
92$54,983,927$0$0$28,402,270
93$60,429,439$0$0$31,220,321
94$66,425,263$0$0$34,323,325
95$73,027,370$0$0$37,740,270
96$80,297,434$0$0$41,503,095
97$88,303,414$0$0$45,646,999
98$97,120,197$0$0$50,210,764
99$106,830,302$0$0$55,237,128
100$117,524,659$0$0$60,773,184