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%19.3%
1 years$96,618$95,757$94,917$94,098$93,297$89,809
2 years$47,830$46,940$46,076$45,239$44,427$40,952
3 years$31,570$30,676$29,814$28,985$28,187$24,835
4 years$23,442$22,550$21,697$20,882$20,103$16,900
5 years$18,566$17,679$16,838$16,040$15,282$12,236
6 years$15,316$14,436$13,608$12,827$12,092$9,205
7 years$12,996$12,124$11,308$10,546$9,834$7,105
8 years$11,257$10,392$9,590$8,847$8,158$5,586
9 years$9,905$9,048$8,260$7,535$6,870$4,450
10 years$8,824$7,976$7,201$6,496$5,854$3,581
11 years$7,940$7,100$6,340$5,653$5,035$2,905
12 years$7,204$6,373$5,626$4,958$4,363$2,371
13 years$6,581$5,759$5,027$4,378$3,805$1,944
14 years$6,048$5,235$4,517$3,886$3,335$1,601
15 years$5,587$4,782$4,078$3,466$2,936$1,322
16 years$5,184$4,388$3,697$3,103$2,595$1,095
17 years$4,828$4,041$3,364$2,788$2,301$908
18 years$4,512$3,734$3,071$2,513$2,046$755
19 years$4,230$3,461$2,812$2,270$1,824$628
20 years$3,976$3,216$2,580$2,056$1,629$524
21 years$3,747$2,995$2,373$1,866$1,458$437
22 years$3,539$2,796$2,187$1,697$1,307$365
23 years$3,350$2,615$2,020$1,545$1,173$305
24 years$3,176$2,450$1,868$1,409$1,054$255
25 years$3,016$2,299$1,730$1,287$949$213
26 years$2,869$2,161$1,605$1,177$855$178
27 years$2,734$2,034$1,490$1,077$770$149
28 years$2,608$1,916$1,385$987$695$125
29 years$2,491$1,808$1,289$905$628$104
30 years$2,382$1,707$1,201$831$567$87
31 years$2,280$1,614$1,119$763$513$73
32 years$2,185$1,527$1,044$701$464$61
33 years$2,095$1,446$975$645$420$51
34 years$2,011$1,371$911$593$380$43
35 years$1,933$1,300$852$546$344$36
36 years$1,858$1,234$797$503$312$30
37 years$1,788$1,172$746$463$283$25
38 years$1,722$1,114$698$427$256$21
39 years$1,659$1,059$654$394$232$18
40 years$1,600$1,008$613$363$211$15
41 years$1,543$959$575$335$191$13
42 years$1,490$914$539$309$174$10
43 years$1,439$870$506$286$157$9
44 years$1,390$830$475$264$143$7
45 years$1,344$791$446$243$130$6
46 years$1,300$755$419$225$118$5
47 years$1,258$720$394$208$107$4
48 years$1,218$688$370$192$97$4
49 years$1,179$657$348$177$88$3
50 years$1,142$627$327$164$80$3

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 $6,546 every year, while hoping to spend $54,649 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: 40/30/30 Blend
46$1,170,000$1,170,000$1,170,000$1,170,000
47$1,296,092$1,234,082$1,215,947$1,336,245
48$1,370,147$1,236,406$1,198,535$1,368,475
49$1,449,925$1,237,012$1,178,709$1,397,805
50$1,535,950$1,235,759$1,156,328$1,428,515
51$1,628,801$1,232,495$1,131,249$1,460,769
52$1,729,113$1,227,061$1,103,320$1,494,749
53$1,837,583$1,219,288$1,072,382$1,530,659
54$1,954,978$1,208,995$1,038,268$1,568,731
55$2,082,141$1,195,991$1,000,806$1,609,222
56$2,219,999$1,180,074$959,812$1,652,420
57$2,369,572$1,161,030$915,099$1,698,648
58$2,531,979$1,138,632$866,465$1,748,269
59$2,708,454$1,112,638$813,705$1,801,684
60$2,900,353$1,082,794$756,602$1,859,345
61$3,109,169$1,048,831$694,927$1,921,755
62$3,336,543$1,010,462$628,446$1,989,474
63$3,584,281$967,386$556,910$2,063,127
64$3,854,373$919,282$480,061$2,143,409
65$4,149,005$865,813$397,629$2,231,095
66$4,470,586$806,621$309,332$2,327,047
67$4,821,768$741,327$214,877$2,432,224
68$5,205,468$669,532$113,956$2,547,691
69$5,624,900$590,814$6,248$2,674,633
70$6,083,602$504,725$0$2,814,363
71$6,585,467$410,794$0$3,003,138
72$7,134,784$308,523$0$3,212,178
73$7,736,276$197,385$0$3,441,398
74$8,395,143$76,824$0$3,692,914
75$9,117,113$0$0$3,969,064
76$9,908,491$0$0$4,290,176
77$10,776,226$0$0$4,670,233
78$11,727,967$0$0$5,087,243
79$12,772,141$0$0$5,544,918
80$13,918,031$0$0$6,047,347
81$15,175,860$0$0$6,599,035
82$16,556,891$0$0$7,204,943
83$18,073,529$0$0$7,870,537
84$19,739,441$0$0$8,601,839
85$21,569,682$0$0$9,405,481
86$23,580,838$0$0$10,288,771
87$25,791,180$0$0$11,259,762
88$28,220,836$0$0$12,327,321
89$30,891,985$0$0$13,501,222
90$33,829,059$0$0$14,792,232
91$37,058,976$0$0$16,212,211
92$40,611,395$0$0$17,774,230
93$44,518,991$0$0$19,492,690
94$48,817,766$0$0$21,383,454
95$53,547,388$0$0$23,464,006
96$58,751,564$0$0$25,753,607
97$64,478,449$0$0$28,273,479
98$70,781,105$0$0$31,047,008
99$77,717,995$0$0$34,099,961
100$85,353,541$0$0$37,460,728