Can I retire at age 47 with 1,140,000?

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 $1,140,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$94,140$93,302$92,483$91,685$90,905$90,446
2 years$46,604$45,736$44,895$44,079$43,288$42,825
3 years$30,761$29,889$29,050$28,242$27,464$27,011
4 years$22,841$21,972$21,141$20,347$19,587$19,148
5 years$18,090$17,226$16,406$15,628$14,890$14,465
6 years$14,924$14,066$13,259$12,498$11,782$11,373
7 years$12,663$11,813$11,018$10,275$9,582$9,188
8 years$10,968$10,126$9,344$8,620$7,949$7,571
9 years$9,651$8,816$8,048$7,342$6,694$6,332
10 years$8,597$7,771$7,017$6,329$5,704$5,357
11 years$7,736$6,918$6,177$5,508$4,906$4,574
12 years$7,019$6,209$5,482$4,831$4,251$3,934
13 years$6,413$5,612$4,898$4,265$3,707$3,405
14 years$5,893$5,101$4,401$3,786$3,250$2,962
15 years$5,444$4,660$3,973$3,377$2,861$2,587
16 years$5,051$4,275$3,602$3,023$2,529$2,268
17 years$4,704$3,937$3,278$2,717$2,242$1,995
18 years$4,397$3,638$2,992$2,448$1,994$1,759
19 years$4,122$3,372$2,739$2,212$1,777$1,555
20 years$3,874$3,133$2,514$2,004$1,587$1,377
21 years$3,651$2,918$2,313$1,818$1,420$1,221
22 years$3,448$2,724$2,131$1,653$1,273$1,085
23 years$3,264$2,548$1,968$1,506$1,143$965
24 years$3,094$2,387$1,820$1,373$1,027$860
25 years$2,939$2,240$1,686$1,254$924$767
26 years$2,796$2,106$1,563$1,147$833$684
27 years$2,664$1,982$1,452$1,050$751$611
28 years$2,541$1,867$1,350$962$677$546
29 years$2,427$1,762$1,256$882$612$489
30 years$2,321$1,664$1,170$809$553$437
31 years$2,221$1,573$1,091$743$500$392
32 years$2,129$1,488$1,018$683$452$351
33 years$2,042$1,409$950$628$409$314
34 years$1,960$1,336$888$578$370$282
35 years$1,883$1,267$830$532$335$253
36 years$1,811$1,202$776$490$304$227
37 years$1,742$1,142$727$451$275$203
38 years$1,678$1,085$681$416$250$183
39 years$1,616$1,032$638$384$226$164
40 years$1,559$982$598$354$205$147
41 years$1,504$935$560$327$186$132
42 years$1,451$890$526$301$169$119
43 years$1,402$848$493$278$153$107
44 years$1,354$808$463$257$139$96
45 years$1,309$771$435$237$126$86
46 years$1,267$735$408$219$115$77
47 years$1,226$702$384$202$104$69
48 years$1,186$670$360$187$95$62
49 years$1,149$640$339$173$86$56
50 years$1,113$611$319$160$78$50

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,140,000, adding $6,988 every year, while hoping to spend $27,085 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: 57/31/12 Blend
46$1,140,000$1,140,000$1,140,000$1,140,000
47$1,263,488$1,203,068$1,185,398$1,331,329
48$1,363,546$1,233,200$1,196,291$1,408,115
49$1,472,901$1,263,901$1,206,640$1,488,143
50$1,592,475$1,295,170$1,216,401$1,574,703
51$1,723,279$1,327,005$1,225,522$1,668,425
52$1,866,429$1,359,404$1,233,952$1,770,001
53$2,023,153$1,392,362$1,241,637$1,880,196
54$2,194,802$1,425,876$1,248,520$1,999,850
55$2,382,866$1,459,938$1,254,540$2,129,888
56$2,588,985$1,494,541$1,259,633$2,271,331
57$2,814,964$1,529,677$1,263,734$2,425,302
58$3,062,794$1,565,334$1,266,772$2,593,039
59$3,334,664$1,601,501$1,268,674$2,775,904
60$3,632,988$1,638,162$1,269,363$2,975,399
61$3,960,424$1,675,303$1,268,758$3,193,180
62$4,319,899$1,712,906$1,266,774$3,431,068
63$4,714,641$1,750,950$1,263,322$3,691,072
64$5,148,200$1,789,412$1,258,309$3,975,406
65$5,624,491$1,828,268$1,251,637$4,286,507
66$6,147,826$1,867,490$1,243,204$4,627,062
67$6,722,954$1,907,047$1,232,902$5,000,032
68$7,355,109$1,946,906$1,220,618$5,408,679
69$8,050,057$1,987,031$1,206,234$5,856,598
70$8,814,147$2,027,380$1,189,628$6,347,750
71$9,654,379$2,067,911$1,170,669$6,886,501
72$10,578,462$2,108,575$1,149,223$7,477,662
73$11,594,891$2,149,320$1,125,147$8,126,533
74$12,713,024$2,190,091$1,098,294$8,838,957
75$13,943,173$2,230,827$1,068,508$9,621,374
76$15,296,701$2,271,461$1,035,627$10,480,877
77$16,786,125$2,311,923$999,481$11,425,286
78$18,425,239$2,352,137$959,893$12,463,219
79$20,229,240$2,392,019$916,677$13,604,172
80$22,214,876$2,431,481$869,639$14,858,612
81$24,400,598$2,470,427$818,576$16,238,073
82$26,806,737$2,508,756$763,276$17,755,266
83$29,455,696$2,546,358$703,518$19,424,201
84$32,372,161$2,583,114$639,070$21,260,318
85$35,583,334$2,618,898$569,691$23,280,630
86$39,119,186$2,653,576$495,127$25,503,891
87$43,012,745$2,687,004$415,116$27,950,767
88$47,300,404$2,719,026$329,382$30,644,033
89$52,022,266$2,749,479$237,637$33,608,791
90$57,222,520$2,778,187$139,581$36,872,704
91$62,949,861$2,804,961$34,901$40,466,258
92$69,257,946$2,829,603$0$44,423,054
93$76,205,902$2,851,899$0$48,789,954
94$83,858,884$2,871,623$0$53,603,341
95$92,288,690$2,888,532$0$58,903,762
96$101,574,436$2,902,371$0$64,740,829
97$111,803,307$2,912,864$0$71,169,216
98$123,071,372$2,919,723$0$78,249,175
99$135,484,501$2,922,638$0$86,047,106
100$149,159,353$2,921,281$0$94,636,180