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%17.7%
1 years$97,443$96,575$95,728$94,902$94,095$91,156
2 years$48,239$47,341$46,470$45,626$44,807$41,872
3 years$31,840$30,938$30,069$29,233$28,427$25,589
4 years$23,642$22,743$21,883$21,061$20,275$17,554
5 years$18,725$17,830$16,982$16,177$15,413$12,817
6 years$15,447$14,560$13,724$12,937$12,195$9,728
7 years$13,107$12,227$11,405$10,636$9,918$7,578
8 years$11,353$10,481$9,672$8,922$8,228$6,013
9 years$9,989$9,126$8,331$7,600$6,929$4,838
10 years$8,899$8,044$7,263$6,551$5,904$3,933
11 years$8,008$7,161$6,394$5,701$5,078$3,223
12 years$7,265$6,427$5,675$5,001$4,400$2,659
13 years$6,638$5,808$5,070$4,415$3,837$2,204
14 years$6,100$5,280$4,555$3,919$3,364$1,835
15 years$5,635$4,823$4,113$3,495$2,962$1,533
16 years$5,228$4,425$3,729$3,130$2,617$1,284
17 years$4,869$4,075$3,393$2,812$2,321$1,078
18 years$4,551$3,766$3,097$2,534$2,064$907
19 years$4,266$3,490$2,836$2,290$1,839$764
20 years$4,010$3,243$2,602$2,074$1,643$645
21 years$3,779$3,021$2,394$1,882$1,470$544
22 years$3,569$2,820$2,206$1,711$1,318$460
23 years$3,378$2,637$2,037$1,558$1,183$389
24 years$3,203$2,471$1,884$1,421$1,063$330
25 years$3,042$2,319$1,745$1,298$957$279
26 years$2,894$2,179$1,618$1,187$862$237
27 years$2,757$2,051$1,503$1,086$777$201
28 years$2,630$1,933$1,397$995$701$170
29 years$2,512$1,823$1,300$913$633$144
30 years$2,402$1,722$1,211$838$572$122
31 years$2,299$1,628$1,129$769$517$104
32 years$2,203$1,540$1,053$707$468$88
33 years$2,113$1,459$983$650$423$75
34 years$2,029$1,382$919$598$383$64
35 years$1,949$1,311$859$551$347$54
36 years$1,874$1,245$804$507$315$46
37 years$1,803$1,182$752$467$285$39
38 years$1,736$1,123$704$431$258$33
39 years$1,673$1,068$660$397$234$28
40 years$1,613$1,016$619$366$213$24
41 years$1,556$967$580$338$193$20
42 years$1,502$921$544$312$175$17
43 years$1,451$878$511$288$159$15
44 years$1,402$837$479$266$144$12
45 years$1,355$798$450$246$131$11
46 years$1,311$761$423$227$119$9
47 years$1,269$726$397$210$108$8
48 years$1,228$693$373$194$98$6
49 years$1,189$662$351$179$89$5
50 years$1,152$633$330$165$81$5

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 $2,723 every year, while hoping to spend $48,617 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: 33/42/25 Blend
46$1,180,000$1,180,000$1,180,000$1,180,000
47$1,303,169$1,240,629$1,222,339$1,336,152
48$1,384,364$1,249,691$1,211,559$1,370,302
49$1,472,211$1,257,569$1,198,789$1,402,522
50$1,567,339$1,264,151$1,183,910$1,436,277
51$1,670,435$1,269,323$1,166,799$1,471,735
52$1,782,259$1,272,959$1,147,326$1,509,084
53$1,903,645$1,274,929$1,125,357$1,548,534
54$2,035,509$1,275,093$1,100,748$1,590,321
55$2,178,860$1,273,302$1,073,353$1,634,708
56$2,334,809$1,269,399$1,043,015$1,681,989
57$2,504,576$1,263,216$1,009,573$1,732,492
58$2,689,506$1,254,577$972,856$1,786,586
59$2,891,076$1,243,292$932,688$1,844,677
60$3,110,915$1,229,162$888,882$1,907,224
61$3,350,813$1,211,975$841,244$1,974,732
62$3,612,742$1,191,508$789,572$2,047,770
63$3,898,872$1,167,523$733,653$2,126,966
64$4,211,593$1,139,768$673,267$2,213,022
65$4,553,536$1,107,976$608,181$2,306,717
66$4,927,595$1,071,866$538,154$2,408,918
67$5,336,961$1,031,139$462,934$2,520,588
68$5,785,146$985,479$382,256$2,642,797
69$6,276,015$934,552$295,846$2,776,732
70$6,813,827$878,004$203,416$2,923,713
71$7,403,273$815,461$104,666$3,085,203
72$8,049,517$746,529$0$3,262,825
73$8,758,247$670,788$0$3,458,572
74$9,535,730$587,799$0$3,704,056
75$10,388,867$497,093$0$3,973,630
76$11,325,259$398,179$0$4,269,842
77$12,353,281$290,534$0$4,595,506
78$13,482,155$173,610$0$4,953,733
79$14,722,042$46,824$0$5,347,963
80$16,084,137$0$0$5,781,994
81$17,580,769$0$0$6,301,821
82$19,225,523$0$0$6,897,067
83$21,033,364$0$0$7,551,531
84$23,020,782$0$0$8,271,205
85$25,205,939$0$0$9,062,692
86$27,608,848$0$0$9,933,268
87$30,251,560$0$0$10,890,947
88$33,158,366$0$0$11,944,560
89$36,356,033$0$0$13,103,838
90$39,874,050$0$0$14,379,503
91$43,744,910$0$0$15,783,365
92$48,004,416$0$0$17,328,442
93$52,692,012$0$0$19,029,075
94$57,851,165$0$0$20,901,066
95$63,529,765$0$0$22,961,828
96$69,780,583$0$0$25,230,546
97$76,661,763$0$0$27,728,361
98$84,237,376$0$0$30,478,569
99$92,578,019$0$0$33,506,839
100$101,761,484$0$0$36,841,455