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%12.4%
1 years$96,618$95,757$94,917$94,098$93,297$92,362
2 years$47,830$46,940$46,076$45,239$44,427$43,485
3 years$31,570$30,676$29,814$28,985$28,187$27,266
4 years$23,442$22,550$21,697$20,882$20,103$19,212
5 years$18,566$17,679$16,838$16,040$15,282$14,424
6 years$15,316$14,436$13,608$12,827$12,092$11,267
7 years$12,996$12,124$11,308$10,546$9,834$9,043
8 years$11,257$10,392$9,590$8,847$8,158$7,400
9 years$9,905$9,048$8,260$7,535$6,870$6,146
10 years$8,824$7,976$7,201$6,496$5,854$5,162
11 years$7,940$7,100$6,340$5,653$5,035$4,375
12 years$7,204$6,373$5,626$4,958$4,363$3,735
13 years$6,581$5,759$5,027$4,378$3,805$3,208
14 years$6,048$5,235$4,517$3,886$3,335$2,768
15 years$5,587$4,782$4,078$3,466$2,936$2,399
16 years$5,184$4,388$3,697$3,103$2,595$2,086
17 years$4,828$4,041$3,364$2,788$2,301$1,819
18 years$4,512$3,734$3,071$2,513$2,046$1,591
19 years$4,230$3,461$2,812$2,270$1,824$1,394
20 years$3,976$3,216$2,580$2,056$1,629$1,224
21 years$3,747$2,995$2,373$1,866$1,458$1,076
22 years$3,539$2,796$2,187$1,697$1,307$947
23 years$3,350$2,615$2,020$1,545$1,173$835
24 years$3,176$2,450$1,868$1,409$1,054$737
25 years$3,016$2,299$1,730$1,287$949$651
26 years$2,869$2,161$1,605$1,177$855$576
27 years$2,734$2,034$1,490$1,077$770$509
28 years$2,608$1,916$1,385$987$695$451
29 years$2,491$1,808$1,289$905$628$400
30 years$2,382$1,707$1,201$831$567$354
31 years$2,280$1,614$1,119$763$513$314
32 years$2,185$1,527$1,044$701$464$279
33 years$2,095$1,446$975$645$420$247
34 years$2,011$1,371$911$593$380$219
35 years$1,933$1,300$852$546$344$195
36 years$1,858$1,234$797$503$312$173
37 years$1,788$1,172$746$463$283$154
38 years$1,722$1,114$698$427$256$136
39 years$1,659$1,059$654$394$232$121
40 years$1,600$1,008$613$363$211$108
41 years$1,543$959$575$335$191$96
42 years$1,490$914$539$309$174$85
43 years$1,439$870$506$286$157$76
44 years$1,390$830$475$264$143$67
45 years$1,344$791$446$243$130$60
46 years$1,300$755$419$225$118$53
47 years$1,258$720$394$208$107$47
48 years$1,218$688$370$192$97$42
49 years$1,179$657$348$177$88$37
50 years$1,142$627$327$164$80$33

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 $4,217 every year, while hoping to spend $41,920 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: 42/39/19 Blend
46$1,170,000$1,170,000$1,170,000$1,170,000
47$1,293,690$1,231,680$1,213,545$1,340,665
48$1,381,044$1,247,430$1,209,596$1,390,108
49$1,475,903$1,262,546$1,204,110$1,439,215
50$1,578,988$1,276,954$1,196,991$1,491,523
51$1,691,093$1,290,573$1,188,138$1,547,345
52$1,813,091$1,303,318$1,177,447$1,607,030
53$1,945,942$1,315,096$1,164,808$1,670,964
54$2,090,703$1,325,811$1,150,104$1,739,574
55$2,248,538$1,335,358$1,133,215$1,813,331
56$2,420,726$1,343,628$1,114,015$1,892,759
57$2,608,676$1,350,503$1,092,371$1,978,435
58$2,813,940$1,355,856$1,068,145$2,071,000
59$3,038,226$1,359,557$1,041,191$2,171,160
60$3,283,412$1,361,462$1,011,358$2,279,698
61$3,551,569$1,361,422$978,487$2,397,480
62$3,844,975$1,359,278$942,413$2,525,463
63$4,166,139$1,354,860$902,961$2,664,704
64$4,517,825$1,347,988$859,950$2,816,374
65$4,903,076$1,338,472$813,190$2,981,766
66$5,325,241$1,326,109$762,484$3,162,309
67$5,788,012$1,310,684$707,624$3,359,583
68$6,295,453$1,291,972$648,393$3,575,333
69$6,852,041$1,269,729$584,565$3,811,490
70$7,462,705$1,243,703$515,905$4,070,184
71$8,132,878$1,213,621$442,164$4,353,770
72$8,868,541$1,179,198$363,086$4,664,849
73$9,676,284$1,140,131$278,402$5,006,295
74$10,563,367$1,096,098$187,829$5,381,281
75$11,537,785$1,046,762$91,076$5,793,313
76$12,608,347$991,762$0$6,246,260
77$13,784,759$930,718$0$6,746,865
78$15,077,711$863,230$0$7,317,242
79$16,498,982$788,873$0$7,944,187
80$18,061,548$707,197$0$8,633,520
81$19,779,705$617,729$0$9,391,664
82$21,669,205$519,967$0$10,225,704
83$23,747,400$413,382$0$11,143,455
84$26,033,411$297,414$0$12,153,536
85$28,548,305$171,473$0$13,265,456
86$31,315,291$34,935$0$14,489,702
87$34,359,944$0$0$15,837,840
88$37,710,442$0$0$17,371,063
89$41,397,834$0$0$19,075,125
90$45,456,329$0$0$20,950,867
91$49,923,621$0$0$23,015,733
92$54,841,246$0$0$25,288,942
93$60,254,969$0$0$27,791,676
94$66,215,219$0$0$30,547,271
95$72,777,563$0$0$33,581,443
96$80,003,231$0$0$36,922,529
97$87,959,691$0$0$40,601,753
98$96,721,288$0$0$44,653,521
99$106,369,944$0$0$49,115,747
100$116,995,930$0$0$54,030,208