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

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$92,489$91,665$90,861$90,076$89,310$87,222
2 years$45,786$44,934$44,107$43,306$42,529$40,437
3 years$30,221$29,365$28,540$27,747$26,982$24,952
4 years$22,440$21,586$20,770$19,990$19,244$17,291
5 years$17,772$16,924$16,118$15,354$14,629$12,758
6 years$14,662$13,820$13,026$12,279$11,575$9,789
7 years$12,441$11,606$10,825$10,095$9,414$7,713
8 years$10,776$9,948$9,180$8,469$7,810$6,193
9 years$9,482$8,662$7,907$7,213$6,577$5,043
10 years$8,447$7,635$6,893$6,218$5,604$4,151
11 years$7,601$6,797$6,069$5,411$4,819$3,446
12 years$6,896$6,100$5,386$4,747$4,176$2,880
13 years$6,300$5,513$4,812$4,191$3,642$2,420
14 years$5,790$5,011$4,324$3,720$3,193$2,043
15 years$5,348$4,578$3,904$3,317$2,811$1,731
16 years$4,962$4,200$3,539$2,970$2,484$1,471
17 years$4,622$3,868$3,221$2,669$2,203$1,253
18 years$4,319$3,574$2,940$2,405$1,959$1,070
19 years$4,049$3,313$2,691$2,173$1,746$915
20 years$3,807$3,078$2,470$1,968$1,559$783
21 years$3,587$2,867$2,272$1,786$1,395$672
22 years$3,388$2,677$2,094$1,624$1,251$577
23 years$3,206$2,503$1,933$1,479$1,123$496
24 years$3,040$2,345$1,788$1,349$1,009$426
25 years$2,888$2,201$1,656$1,232$908$367
26 years$2,747$2,069$1,536$1,127$818$316
27 years$2,617$1,947$1,426$1,031$737$272
28 years$2,496$1,834$1,326$945$665$235
29 years$2,384$1,731$1,234$866$601$202
30 years$2,280$1,634$1,149$795$543$175
31 years$2,182$1,545$1,071$730$491$151
32 years$2,091$1,462$1,000$671$444$130
33 years$2,006$1,384$933$617$402$112
34 years$1,925$1,312$872$568$364$97
35 years$1,850$1,245$815$523$330$84
36 years$1,779$1,181$763$481$299$72
37 years$1,712$1,122$714$444$271$62
38 years$1,648$1,066$669$409$245$54
39 years$1,588$1,014$626$377$222$47
40 years$1,531$965$587$348$202$40
41 years$1,477$918$551$321$183$35
42 years$1,426$874$516$296$166$30
43 years$1,377$833$485$273$151$26
44 years$1,331$794$455$252$137$22
45 years$1,286$757$427$233$124$19
46 years$1,244$723$401$215$113$17
47 years$1,204$689$377$199$102$14
48 years$1,166$658$354$184$93$13
49 years$1,129$629$333$170$84$11
50 years$1,094$600$313$157$77$9

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 $3,064 every year, while hoping to spend $36,695 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: 58/24/18 Blend
46$1,120,000$1,120,000$1,120,000$1,120,000
47$1,237,401$1,178,041$1,160,681$1,303,159
48$1,324,572$1,196,721$1,160,520$1,366,796
49$1,419,405$1,215,088$1,159,124$1,431,869
50$1,522,643$1,233,085$1,156,413$1,501,978
51$1,635,103$1,250,656$1,152,303$1,577,618
52$1,757,683$1,267,738$1,146,705$1,659,329
53$1,891,374$1,284,265$1,139,528$1,747,712
54$2,037,266$1,300,166$1,130,673$1,843,427
55$2,196,557$1,315,364$1,120,041$1,947,202
56$2,370,568$1,329,779$1,107,524$2,059,841
57$2,560,752$1,343,324$1,093,012$2,182,230
58$2,768,709$1,355,907$1,076,388$2,315,349
59$2,996,200$1,367,429$1,057,530$2,460,274
60$3,245,166$1,377,786$1,036,311$2,618,196
61$3,517,741$1,386,867$1,012,596$2,790,427
62$3,816,279$1,394,551$986,246$2,978,415
63$4,143,369$1,400,714$957,115$3,183,756
64$4,501,864$1,405,220$925,049$3,408,211
65$4,894,905$1,407,927$889,890$3,653,724
66$5,325,953$1,408,683$851,468$3,922,435
67$5,798,819$1,407,327$809,611$4,216,709
68$6,317,699$1,403,687$764,134$4,539,151
69$6,887,219$1,397,582$714,847$4,892,635
70$7,512,470$1,388,818$661,549$5,280,331
71$8,199,065$1,377,193$604,033$5,705,736
72$8,953,181$1,362,487$542,081$6,172,703
73$9,781,629$1,344,473$475,464$6,685,485
74$10,691,908$1,322,905$403,945$7,248,770
75$11,692,281$1,297,525$327,275$7,867,728
76$12,791,851$1,268,061$245,196$8,548,060
77$14,000,646$1,234,222$157,436$9,296,054
78$15,329,715$1,195,702$63,713$10,118,641
79$16,791,230$1,152,176$0$11,023,465
80$18,398,604$1,103,300$0$12,025,929
81$20,166,611$1,048,712$0$13,141,863
82$22,111,533$988,026$0$14,369,328
83$24,251,306$920,837$0$15,719,685
84$26,605,695$846,713$0$17,205,458
85$29,196,476$765,202$0$18,840,450
86$32,047,641$675,822$0$20,639,876
87$35,185,629$578,065$0$22,620,505
88$38,639,569$471,397$0$24,800,821
89$42,441,559$355,249$0$27,201,195
90$46,626,965$229,023$0$29,844,082
91$51,234,758$92,088$0$32,754,231
92$56,307,880$0$0$35,958,919
93$61,893,645$0$0$39,503,060
94$68,044,194$0$0$43,432,453
95$74,816,976$0$0$47,759,496
96$82,275,298$0$0$52,524,651
97$90,488,920$0$0$57,772,503
98$99,534,710$0$0$63,552,182
99$109,497,372$0$0$69,917,824
100$120,470,244$0$0$76,929,087