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

Use the below retirement simulation to view the chances of a successful retirement.
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%
1 years$96,618$95,757$94,917$94,098$93,297$92,516
2 years$47,830$46,940$46,076$45,239$44,427$43,639
3 years$31,570$30,676$29,814$28,985$28,187$27,417
4 years$23,442$22,550$21,697$20,882$20,103$19,357
5 years$18,566$17,679$16,838$16,040$15,282$14,563
6 years$15,316$14,436$13,608$12,827$12,092$11,400
7 years$12,996$12,124$11,308$10,546$9,834$9,170
8 years$11,257$10,392$9,590$8,847$8,158$7,522
9 years$9,905$9,048$8,260$7,535$6,870$6,261
10 years$8,824$7,976$7,201$6,496$5,854$5,272
11 years$7,940$7,100$6,340$5,653$5,035$4,479
12 years$7,204$6,373$5,626$4,958$4,363$3,834
13 years$6,581$5,759$5,027$4,378$3,805$3,301
14 years$6,048$5,235$4,517$3,886$3,335$2,856
15 years$5,587$4,782$4,078$3,466$2,936$2,482
16 years$5,184$4,388$3,697$3,103$2,595$2,164
17 years$4,828$4,041$3,364$2,788$2,301$1,893
18 years$4,512$3,734$3,071$2,513$2,046$1,659
19 years$4,230$3,461$2,812$2,270$1,824$1,458
20 years$3,976$3,216$2,580$2,056$1,629$1,284
21 years$3,747$2,995$2,373$1,866$1,458$1,132
22 years$3,539$2,796$2,187$1,697$1,307$1,000
23 years$3,350$2,615$2,020$1,545$1,173$884
24 years$3,176$2,450$1,868$1,409$1,054$783
25 years$3,016$2,299$1,730$1,287$949$694
26 years$2,869$2,161$1,605$1,177$855$615
27 years$2,734$2,034$1,490$1,077$770$546
28 years$2,608$1,916$1,385$987$695$485
29 years$2,491$1,808$1,289$905$628$431
30 years$2,382$1,707$1,201$831$567$383
31 years$2,280$1,614$1,119$763$513$341
32 years$2,185$1,527$1,044$701$464$303
33 years$2,095$1,446$975$645$420$270
34 years$2,011$1,371$911$593$380$241
35 years$1,933$1,300$852$546$344$214
36 years$1,858$1,234$797$503$312$191
37 years$1,788$1,172$746$463$283$170
38 years$1,722$1,114$698$427$256$152
39 years$1,659$1,059$654$394$232$135
40 years$1,600$1,008$613$363$211$121
41 years$1,543$959$575$335$191$108
42 years$1,490$914$539$309$174$96
43 years$1,439$870$506$286$157$86
44 years$1,390$830$475$264$143$76
45 years$1,344$791$446$243$130$68
46 years$1,300$755$419$225$118$61
47 years$1,258$720$394$208$107$54
48 years$1,218$688$370$192$97$48
49 years$1,179$657$348$177$88$43
50 years$1,142$627$327$164$80$39

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 $2,740 every year, while hoping to spend $43,733 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: 74/15/11 Blend
46$1,170,000$1,170,000$1,170,000$1,170,000
47$1,292,166$1,230,156$1,212,021$1,384,845
48$1,377,436$1,243,902$1,206,092$1,460,140
49$1,469,937$1,256,856$1,198,499$1,536,874
50$1,570,361$1,268,933$1,189,140$1,619,735
51$1,679,469$1,280,042$1,177,907$1,709,317
52$1,798,098$1,290,087$1,164,690$1,806,273
53$1,927,167$1,298,964$1,149,370$1,911,325
54$2,067,689$1,306,565$1,131,825$2,025,268
55$2,220,780$1,312,773$1,111,928$2,148,978
56$2,387,664$1,317,463$1,089,542$2,283,419
57$2,569,693$1,320,506$1,064,528$2,429,657
58$2,768,350$1,321,759$1,036,739$2,588,864
59$2,985,272$1,321,075$1,006,020$2,762,332
60$3,222,258$1,318,297$972,210$2,951,487
61$3,481,290$1,313,255$935,140$3,157,899
62$3,764,550$1,305,772$894,636$3,383,299
63$4,074,439$1,295,661$850,511$3,629,597
64$4,413,603$1,282,720$802,575$3,898,894
65$4,784,955$1,266,737$750,625$4,193,511
66$5,191,701$1,247,488$694,452$4,516,005
67$5,637,374$1,224,734$633,835$4,869,192
68$6,125,862$1,198,222$568,545$5,256,179
69$6,661,452$1,167,687$498,343$5,680,392
70$7,248,860$1,132,843$422,978$6,145,604
71$7,893,284$1,093,393$342,188$6,655,977
72$8,600,448$1,049,018$255,700$7,216,099
73$9,376,657$999,383$163,229$7,831,027
74$10,228,856$944,134$64,478$8,506,334
75$11,164,698$882,894$0$9,248,166
76$12,192,608$815,268$0$10,068,098
77$13,321,873$740,834$0$10,977,184
78$14,562,720$659,151$0$11,976,118
79$15,926,416$569,748$0$13,074,017
80$17,425,376$472,131$0$14,280,925
81$19,073,276$365,777$0$15,607,912
82$20,885,182$250,132$0$17,067,177
83$22,877,695$124,614$0$18,672,168
84$25,069,105$0$0$20,437,700
85$27,479,562$0$0$22,381,984
86$30,131,268$0$0$24,543,546
87$33,048,685$0$0$26,921,762
88$36,258,766$0$0$29,538,612
89$39,791,206$0$0$32,418,311
90$43,678,728$0$0$35,587,543
91$47,957,385$0$0$39,075,707
92$52,666,904$0$0$42,915,199
93$57,851,055$0$0$47,141,712
94$63,558,072$0$0$51,794,579
95$69,841,101$0$0$56,917,136
96$76,758,702$0$0$62,557,140
97$84,375,403$0$0$68,767,208
98$92,762,307$0$0$75,605,325
99$101,997,766$0$0$83,135,382
100$112,168,113$0$0$91,427,781