Can I retire at age 47 with 1,160,000?

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 $1,160,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$95,792$94,938$94,106$93,293$92,500$90,669
2 years$47,422$46,538$45,683$44,853$44,048$42,211
3 years$31,300$30,413$29,560$28,738$27,946$26,160
4 years$23,241$22,357$21,512$20,704$19,931$18,211
5 years$18,407$17,528$16,694$15,902$15,151$13,501
6 years$15,185$14,313$13,491$12,717$11,989$10,410
7 years$12,885$12,020$11,211$10,456$9,750$8,244
8 years$11,161$10,303$9,508$8,771$8,089$6,654
9 years$9,820$8,971$8,189$7,471$6,812$5,448
10 years$8,748$7,908$7,140$6,440$5,804$4,509
11 years$7,872$7,040$6,286$5,605$4,992$3,765
12 years$7,142$6,318$5,578$4,916$4,326$3,165
13 years$6,525$5,710$4,984$4,340$3,772$2,676
14 years$5,997$5,190$4,478$3,853$3,307$2,272
15 years$5,539$4,741$4,043$3,436$2,911$1,937
16 years$5,139$4,350$3,666$3,077$2,573$1,657
17 years$4,787$4,006$3,336$2,764$2,281$1,420
18 years$4,474$3,702$3,045$2,491$2,029$1,221
19 years$4,194$3,431$2,788$2,251$1,808$1,051
20 years$3,942$3,188$2,558$2,039$1,615$906
21 years$3,715$2,970$2,353$1,850$1,445$783
22 years$3,509$2,772$2,169$1,682$1,295$677
23 years$3,321$2,593$2,002$1,532$1,163$586
24 years$3,149$2,429$1,852$1,397$1,045$507
25 years$2,991$2,280$1,715$1,276$941$440
26 years$2,845$2,143$1,591$1,167$847$381
27 years$2,710$2,016$1,477$1,068$764$331
28 years$2,585$1,900$1,373$979$689$287
29 years$2,469$1,792$1,278$897$622$250
30 years$2,361$1,693$1,190$824$562$217
31 years$2,260$1,600$1,110$756$508$189
32 years$2,166$1,514$1,035$695$460$164
33 years$2,077$1,434$967$639$416$143
34 years$1,994$1,359$903$588$377$124
35 years$1,916$1,289$844$541$341$108
36 years$1,842$1,223$790$499$309$94
37 years$1,773$1,162$739$459$280$82
38 years$1,707$1,104$692$423$254$71
39 years$1,645$1,050$649$390$230$62
40 years$1,586$999$608$360$209$54
41 years$1,530$951$570$332$190$47
42 years$1,477$906$535$307$172$41
43 years$1,426$863$502$283$156$36
44 years$1,378$823$471$261$142$31
45 years$1,332$784$442$241$129$27
46 years$1,289$748$415$223$117$24
47 years$1,247$714$390$206$106$20
48 years$1,207$682$367$190$96$18
49 years$1,169$651$345$176$87$16
50 years$1,133$622$324$163$79$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,160,000, adding $6,633 every year, while hoping to spend $25,622 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: 61/33/6 Blend
46$1,160,000$1,160,000$1,160,000$1,160,000
47$1,285,162$1,223,682$1,205,702$1,361,729
48$1,388,987$1,256,381$1,218,831$1,446,398
49$1,502,543$1,289,823$1,231,542$1,535,166
50$1,626,796$1,324,018$1,243,792$1,631,360
51$1,762,810$1,358,975$1,255,540$1,735,694
52$1,911,754$1,394,703$1,266,738$1,848,955
53$2,074,919$1,431,209$1,277,339$1,972,011
54$2,253,723$1,468,501$1,287,293$2,105,814
55$2,449,731$1,506,586$1,296,545$2,251,415
56$2,664,665$1,545,470$1,305,041$2,409,971
57$2,900,422$1,585,159$1,312,721$2,582,755
58$3,159,090$1,625,657$1,319,523$2,771,170
59$3,442,972$1,666,969$1,325,381$2,976,759
60$3,754,602$1,709,097$1,330,228$3,201,224
61$4,096,772$1,752,044$1,333,992$3,446,438
62$4,472,559$1,795,809$1,336,596$3,714,465
63$4,885,350$1,840,394$1,337,962$4,007,576
64$5,338,878$1,885,796$1,338,006$4,328,276
65$5,837,256$1,932,012$1,336,641$4,679,323
66$6,385,013$1,979,038$1,333,776$5,063,755
67$6,987,141$2,026,867$1,329,314$5,484,918
68$7,649,137$2,075,492$1,323,154$5,946,501
69$8,377,061$2,124,902$1,315,192$6,452,564
70$9,177,586$2,175,087$1,305,315$7,007,586
71$10,058,065$2,226,032$1,293,409$7,616,495
72$11,026,601$2,277,721$1,279,351$8,284,727
73$12,092,119$2,330,134$1,263,015$9,018,266
74$13,264,456$2,383,252$1,244,266$9,823,709
75$14,554,448$2,437,048$1,222,967$10,708,324
76$15,974,035$2,491,497$1,198,969$11,680,119
77$17,536,374$2,546,567$1,172,122$12,747,918
78$19,255,960$2,602,225$1,142,264$13,921,443
79$21,148,767$2,658,433$1,109,229$15,211,410
80$23,232,393$2,715,149$1,072,840$16,629,623
81$25,526,234$2,772,327$1,032,916$18,189,092
82$28,051,656$2,829,917$989,265$19,904,152
83$30,832,206$2,887,865$941,687$21,790,601
84$33,893,829$2,946,109$889,972$23,865,846
85$37,265,116$3,004,584$833,902$26,149,068
86$40,977,568$3,063,219$773,248$28,661,407
87$45,065,900$3,121,936$707,772$31,426,156
88$49,568,363$3,180,653$637,224$34,468,984
89$54,527,108$3,239,277$561,343$37,818,179
90$59,988,583$3,297,711$479,858$41,504,913
91$66,003,969$3,355,850$392,483$45,563,538
92$72,629,666$3,413,578$298,923$50,031,908
93$79,927,822$3,470,774$198,868$54,951,740
94$87,966,923$3,527,305$91,993$60,369,005
95$96,822,436$3,583,030$0$66,334,365
96$106,577,523$3,637,796$0$72,905,060
97$117,323,822$3,691,441$0$80,147,578
98$129,162,320$3,743,789$0$88,123,846
99$142,204,295$3,794,653$0$96,908,605
100$156,572,376$3,843,834$0$106,584,217