Can I retire at age 47 with 1,170,000?

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 $1,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$96,618$95,757$94,917$94,098$93,297$92,439
2 years$47,830$46,940$46,076$45,239$44,427$43,562
3 years$31,570$30,676$29,814$28,985$28,187$27,342
4 years$23,442$22,550$21,697$20,882$20,103$19,285
5 years$18,566$17,679$16,838$16,040$15,282$14,493
6 years$15,316$14,436$13,608$12,827$12,092$11,333
7 years$12,996$12,124$11,308$10,546$9,834$9,106
8 years$11,257$10,392$9,590$8,847$8,158$7,461
9 years$9,905$9,048$8,260$7,535$6,870$6,203
10 years$8,824$7,976$7,201$6,496$5,854$5,217
11 years$7,940$7,100$6,340$5,653$5,035$4,427
12 years$7,204$6,373$5,626$4,958$4,363$3,784
13 years$6,581$5,759$5,027$4,378$3,805$3,254
14 years$6,048$5,235$4,517$3,886$3,335$2,812
15 years$5,587$4,782$4,078$3,466$2,936$2,440
16 years$5,184$4,388$3,697$3,103$2,595$2,125
17 years$4,828$4,041$3,364$2,788$2,301$1,856
18 years$4,512$3,734$3,071$2,513$2,046$1,625
19 years$4,230$3,461$2,812$2,270$1,824$1,426
20 years$3,976$3,216$2,580$2,056$1,629$1,254
21 years$3,747$2,995$2,373$1,866$1,458$1,104
22 years$3,539$2,796$2,187$1,697$1,307$973
23 years$3,350$2,615$2,020$1,545$1,173$860
24 years$3,176$2,450$1,868$1,409$1,054$760
25 years$3,016$2,299$1,730$1,287$949$672
26 years$2,869$2,161$1,605$1,177$855$595
27 years$2,734$2,034$1,490$1,077$770$528
28 years$2,608$1,916$1,385$987$695$468
29 years$2,491$1,808$1,289$905$628$415
30 years$2,382$1,707$1,201$831$567$368
31 years$2,280$1,614$1,119$763$513$327
32 years$2,185$1,527$1,044$701$464$291
33 years$2,095$1,446$975$645$420$258
34 years$2,011$1,371$911$593$380$230
35 years$1,933$1,300$852$546$344$204
36 years$1,858$1,234$797$503$312$182
37 years$1,788$1,172$746$463$283$162
38 years$1,722$1,114$698$427$256$144
39 years$1,659$1,059$654$394$232$128
40 years$1,600$1,008$613$363$211$114
41 years$1,543$959$575$335$191$101
42 years$1,490$914$539$309$174$90
43 years$1,439$870$506$286$157$80
44 years$1,390$830$475$264$143$72
45 years$1,344$791$446$243$130$64
46 years$1,300$755$419$225$118$57
47 years$1,258$720$394$208$107$51
48 years$1,218$688$370$192$97$45
49 years$1,179$657$348$177$88$40
50 years$1,142$627$327$164$80$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,170,000, adding $3,848 every year, while hoping to spend $56,978 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: 77/16/7 Blend
46$1,170,000$1,170,000$1,170,000$1,170,000
47$1,293,309$1,231,299$1,213,164$1,391,500
48$1,364,603$1,231,009$1,193,181$1,456,232
49$1,441,258$1,228,794$1,170,619$1,519,443
50$1,523,763$1,224,502$1,145,331$1,587,076
51$1,612,651$1,217,967$1,117,164$1,659,547
52$1,708,510$1,209,016$1,085,958$1,737,314
53$1,811,985$1,197,464$1,051,544$1,820,879
54$1,923,784$1,183,117$1,013,747$1,910,801
55$2,044,687$1,165,766$972,385$2,007,691
56$2,175,549$1,145,192$927,263$2,112,226
57$2,317,311$1,121,163$878,183$2,225,150
58$2,471,009$1,093,432$824,934$2,347,286
59$2,637,780$1,061,738$767,297$2,479,540
60$2,818,875$1,025,805$705,043$2,622,910
61$3,015,671$985,341$637,933$2,778,499
62$3,229,683$940,035$565,717$2,947,521
63$3,462,576$889,562$488,134$3,131,317
64$3,716,183$833,575$404,911$3,331,365
65$3,992,521$771,708$315,763$3,549,294
66$4,293,811$703,574$220,393$3,786,902
67$4,622,494$628,764$118,491$4,046,171
68$4,981,261$546,846$9,733$4,329,288
69$5,373,071$457,363$0$4,638,662
70$5,801,183$359,832$0$4,984,895
71$6,269,184$253,745$0$5,364,268
72$6,781,024$138,561$0$5,779,317
73$7,341,052$13,714$0$6,233,634
74$7,954,056$0$0$6,731,184
75$8,625,310$0$0$7,297,707
76$9,360,619$0$0$7,920,978
77$10,166,379$0$0$8,604,009
78$11,049,633$0$0$9,352,773
79$12,018,136$0$0$10,173,854
80$13,080,432$0$0$11,074,498
81$14,245,930$0$0$12,062,689
82$15,524,995$0$0$13,147,222
83$16,929,042$0$0$14,337,782
84$18,470,649$0$0$15,645,040
85$20,163,666$0$0$17,080,750
86$22,023,356$0$0$18,657,860
87$24,066,528$0$0$20,390,633
88$26,311,702$0$0$22,294,784
89$28,779,281$0$0$24,387,624
90$31,491,743$0$0$26,688,224
91$34,473,851$0$0$29,217,598
92$37,752,887$0$0$31,998,894
93$41,358,910$0$0$35,057,616
94$45,325,036$0$0$38,421,865
95$49,687,755$0$0$42,122,602
96$54,487,267$0$0$46,193,938
97$59,767,867$0$0$50,673,456
98$65,578,360$0$0$55,602,570
99$71,972,520$0$0$61,026,906
100$79,009,596$0$0$66,996,741