Can I retire at age 47 with 1,180,000?

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 $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$97,443$96,575$95,728$94,902$94,095$91,597
2 years$48,239$47,341$46,470$45,626$44,807$42,308
3 years$31,840$30,938$30,069$29,233$28,427$26,006
4 years$23,642$22,743$21,883$21,061$20,275$17,948
5 years$18,725$17,830$16,982$16,177$15,413$13,188
6 years$15,447$14,560$13,724$12,937$12,195$10,075
7 years$13,107$12,227$11,405$10,636$9,918$7,902
8 years$11,353$10,481$9,672$8,922$8,228$6,315
9 years$9,989$9,126$8,331$7,600$6,929$5,118
10 years$8,899$8,044$7,263$6,551$5,904$4,192
11 years$8,008$7,161$6,394$5,701$5,078$3,462
12 years$7,265$6,427$5,675$5,001$4,400$2,879
13 years$6,638$5,808$5,070$4,415$3,837$2,406
14 years$6,100$5,280$4,555$3,919$3,364$2,020
15 years$5,635$4,823$4,113$3,495$2,962$1,701
16 years$5,228$4,425$3,729$3,130$2,617$1,438
17 years$4,869$4,075$3,393$2,812$2,321$1,218
18 years$4,551$3,766$3,097$2,534$2,064$1,033
19 years$4,266$3,490$2,836$2,290$1,839$878
20 years$4,010$3,243$2,602$2,074$1,643$748
21 years$3,779$3,021$2,394$1,882$1,470$637
22 years$3,569$2,820$2,206$1,711$1,318$544
23 years$3,378$2,637$2,037$1,558$1,183$465
24 years$3,203$2,471$1,884$1,421$1,063$397
25 years$3,042$2,319$1,745$1,298$957$340
26 years$2,894$2,179$1,618$1,187$862$291
27 years$2,757$2,051$1,503$1,086$777$249
28 years$2,630$1,933$1,397$995$701$213
29 years$2,512$1,823$1,300$913$633$182
30 years$2,402$1,722$1,211$838$572$156
31 years$2,299$1,628$1,129$769$517$134
32 years$2,203$1,540$1,053$707$468$115
33 years$2,113$1,459$983$650$423$98
34 years$2,029$1,382$919$598$383$84
35 years$1,949$1,311$859$551$347$72
36 years$1,874$1,245$804$507$315$62
37 years$1,803$1,182$752$467$285$53
38 years$1,736$1,123$704$431$258$46
39 years$1,673$1,068$660$397$234$39
40 years$1,613$1,016$619$366$213$34
41 years$1,556$967$580$338$193$29
42 years$1,502$921$544$312$175$25
43 years$1,451$878$511$288$159$21
44 years$1,402$837$479$266$144$18
45 years$1,355$798$450$246$131$16
46 years$1,311$761$423$227$119$13
47 years$1,269$726$397$210$108$12
48 years$1,228$693$373$194$98$10
49 years$1,189$662$351$179$89$9
50 years$1,152$633$330$165$81$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,180,000, adding $5,703 every year, while hoping to spend $20,586 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: 39/42/19 Blend
46$1,180,000$1,180,000$1,180,000$1,180,000
47$1,306,243$1,243,703$1,225,413$1,349,583
48$1,417,576$1,282,741$1,244,561$1,420,245
49$1,539,576$1,323,002$1,263,660$1,494,213
50$1,673,307$1,364,524$1,282,688$1,573,766
51$1,819,945$1,407,346$1,301,619$1,659,421
52$1,980,784$1,451,510$1,320,427$1,751,748
53$2,157,246$1,497,057$1,339,083$1,851,370
54$2,350,902$1,544,029$1,357,560$1,958,977
55$2,563,480$1,592,473$1,375,824$2,075,323
56$2,796,883$1,642,432$1,393,842$2,201,242
57$3,053,210$1,693,956$1,411,580$2,337,649
58$3,334,770$1,747,092$1,429,001$2,485,550
59$3,644,107$1,801,891$1,446,064$2,646,054
60$3,984,027$1,858,404$1,462,728$2,820,380
61$4,357,618$1,916,686$1,478,949$3,009,872
62$4,768,282$1,976,791$1,494,681$3,216,006
63$5,219,769$2,038,776$1,509,875$3,440,410
64$5,716,209$2,102,700$1,524,479$3,684,875
65$6,262,153$2,168,622$1,538,440$3,951,372
66$6,862,614$2,236,606$1,551,699$4,242,072
67$7,523,116$2,306,715$1,564,196$4,559,366
68$8,249,746$2,379,016$1,575,869$4,905,886
69$9,049,209$2,453,577$1,586,649$5,284,531
70$9,928,894$2,530,468$1,596,467$5,698,495
71$10,896,941$2,609,761$1,605,250$6,151,293
72$11,962,322$2,691,532$1,612,918$6,646,799
73$13,134,919$2,775,857$1,619,391$7,189,277
74$14,425,622$2,862,816$1,624,582$7,783,428
75$15,846,432$2,952,490$1,628,402$8,434,426
76$17,410,571$3,044,965$1,630,756$9,147,972
77$19,132,608$3,140,327$1,631,545$9,930,348
78$21,028,596$3,238,665$1,630,664$10,788,472
79$23,116,226$3,340,072$1,628,004$11,729,966
80$25,414,989$3,444,644$1,623,451$12,763,227
81$27,946,365$3,552,479$1,616,884$13,897,506
82$30,734,021$3,663,677$1,608,176$15,142,995
83$33,804,038$3,778,344$1,597,197$16,510,923
84$37,185,154$3,896,586$1,583,806$18,013,661
85$40,909,036$4,018,516$1,567,860$19,664,840
86$45,010,580$4,144,246$1,549,206$21,479,478
87$49,528,240$4,273,894$1,527,685$23,474,122
88$54,504,388$4,407,583$1,503,131$25,667,004
89$59,985,718$4,545,437$1,475,368$28,078,214
90$66,023,683$4,687,585$1,444,214$30,729,885
91$72,674,982$4,834,160$1,409,479$33,646,406
92$80,002,096$4,985,299$1,370,962$36,854,653
93$88,073,874$5,141,144$1,328,454$40,384,237
94$96,966,188$5,301,839$1,281,736$44,267,787
95$106,762,645$5,467,534$1,230,579$48,541,257
96$117,555,376$5,638,385$1,174,745$53,244,264
97$129,445,909$5,814,550$1,113,984$58,420,465
98$142,546,122$5,996,193$1,048,032$64,117,963
99$156,979,304$6,183,484$976,619$70,389,766
100$172,881,315$6,376,597$899,458$77,294,286