Can I retire at age 47 with 1,130,000?

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 $1,130,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$93,314$92,483$91,672$90,881$90,108$87,645
2 years$46,195$45,335$44,501$43,693$42,908$40,445
3 years$30,491$29,627$28,795$27,994$27,223$24,836
4 years$22,640$21,779$20,955$20,168$19,416$17,124
5 years$17,931$17,075$16,262$15,491$14,759$12,569
6 years$14,793$13,943$13,142$12,388$11,679$9,592
7 years$12,552$11,709$10,921$10,185$9,498$7,515
8 years$10,872$10,037$9,262$8,544$7,879$5,999
9 years$9,566$8,739$7,978$7,278$6,636$4,855
10 years$8,522$7,703$6,955$6,273$5,654$3,972
11 years$7,668$6,858$6,123$5,460$4,862$3,276
12 years$6,957$6,155$5,434$4,789$4,214$2,720
13 years$6,356$5,562$4,855$4,228$3,674$2,271
14 years$5,842$5,056$4,362$3,753$3,221$1,903
15 years$5,396$4,619$3,938$3,347$2,836$1,601
16 years$5,006$4,238$3,571$2,997$2,506$1,351
17 years$4,663$3,903$3,249$2,693$2,222$1,143
18 years$4,358$3,606$2,966$2,427$1,976$968
19 years$4,085$3,342$2,715$2,193$1,761$822
20 years$3,841$3,106$2,492$1,986$1,573$699
21 years$3,619$2,893$2,292$1,802$1,408$595
22 years$3,418$2,700$2,113$1,639$1,262$507
23 years$3,235$2,526$1,951$1,492$1,133$432
24 years$3,067$2,366$1,804$1,361$1,018$369
25 years$2,913$2,221$1,671$1,243$916$315
26 years$2,771$2,087$1,550$1,137$825$269
27 years$2,640$1,964$1,439$1,040$744$230
28 years$2,519$1,851$1,338$953$671$196
29 years$2,405$1,746$1,245$874$606$168
30 years$2,300$1,649$1,160$802$548$144
31 years$2,202$1,559$1,081$737$495$123
32 years$2,110$1,475$1,009$677$448$105
33 years$2,024$1,397$942$623$405$90
34 years$1,943$1,324$880$573$367$77
35 years$1,866$1,256$823$527$332$66
36 years$1,795$1,192$770$486$301$57
37 years$1,727$1,132$720$448$273$48
38 years$1,663$1,076$675$413$248$41
39 years$1,602$1,023$632$380$224$36
40 years$1,545$973$592$351$204$30
41 years$1,490$926$555$324$185$26
42 years$1,439$882$521$299$168$22
43 years$1,389$841$489$276$152$19
44 years$1,343$801$459$255$138$16
45 years$1,298$764$431$235$125$14
46 years$1,255$729$405$217$114$12
47 years$1,215$696$380$201$103$10
48 years$1,176$664$357$185$94$9
49 years$1,139$634$336$171$85$8
50 years$1,103$606$316$158$77$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,130,000, adding $6,000 every year, while hoping to spend $24,768 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: 75/15/10 Blend
46$1,130,000$1,130,000$1,130,000$1,130,000
47$1,251,449$1,191,559$1,174,044$1,342,612
48$1,352,744$1,223,592$1,187,022$1,435,552
49$1,463,541$1,256,365$1,199,604$1,533,655
50$1,584,782$1,289,888$1,211,751$1,640,466
51$1,717,508$1,324,170$1,223,422$1,756,841
52$1,862,860$1,359,221$1,234,573$1,883,722
53$2,022,098$1,395,049$1,245,158$2,022,146
54$2,196,609$1,431,664$1,255,128$2,173,255
55$2,387,921$1,469,072$1,264,432$2,338,309
56$2,597,715$1,507,283$1,273,016$2,518,693
57$2,827,844$1,546,302$1,280,825$2,715,934
58$3,080,348$1,586,135$1,287,797$2,931,714
59$3,357,477$1,626,789$1,293,871$3,167,883
60$3,661,704$1,668,266$1,298,980$3,426,484
61$3,995,759$1,710,572$1,303,057$3,709,763
62$4,362,644$1,753,708$1,306,028$4,020,197
63$4,765,671$1,797,677$1,307,817$4,360,514
64$5,208,485$1,842,478$1,308,343$4,733,718
65$5,695,102$1,888,111$1,307,525$5,143,122
66$6,229,947$1,934,574$1,305,272$5,592,372
67$6,817,896$1,981,862$1,301,493$6,085,489
68$7,464,319$2,029,972$1,296,091$6,626,900
69$8,175,134$2,078,895$1,288,964$7,221,485
70$8,956,860$2,128,623$1,280,007$7,874,619
71$9,816,680$2,179,145$1,269,107$8,592,226
72$10,762,507$2,230,449$1,256,148$9,380,833
73$11,803,061$2,282,519$1,241,007$10,247,632
74$12,947,949$2,335,339$1,223,557$11,200,547
75$14,207,757$2,388,887$1,203,662$12,248,310
76$15,594,147$2,443,141$1,181,184$13,400,542
77$17,119,970$2,498,076$1,155,974$14,667,846
78$18,799,387$2,553,661$1,127,879$16,061,905
79$20,648,000$2,609,866$1,096,738$17,595,593
80$22,683,000$2,666,653$1,062,383$19,283,094
81$24,923,331$2,723,984$1,024,638$21,140,043
82$27,389,865$2,781,814$983,317$23,183,664
83$30,105,603$2,840,094$938,230$25,432,940
84$33,095,888$2,898,772$889,175$27,908,788
85$36,388,647$2,957,791$835,940$30,634,259
86$40,014,652$3,017,086$778,308$33,634,754
87$44,007,812$3,076,589$716,047$36,938,264
88$48,405,492$3,136,225$648,917$40,575,635
89$53,248,866$3,195,912$576,669$44,580,859
90$58,583,302$3,255,565$499,040$48,991,392
91$64,458,798$3,315,086$415,756$53,848,514
92$70,930,443$3,374,373$326,532$59,197,711
93$78,058,948$3,433,317$231,070$65,089,112
94$85,911,208$3,491,797$129,059$71,577,956
95$94,560,942$3,549,686$20,173$78,725,118
96$104,089,382$3,606,844$0$86,597,680
97$114,586,045$3,663,126$0$95,279,814
98$126,149,573$3,718,370$0$104,845,701
99$138,888,667$3,772,408$0$115,383,002
100$152,923,112$3,825,057$0$126,990,690