Can I retire at age 47 with 1,190,000?

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$98,269$97,394$96,540$95,706$94,892$92,561
2 years$48,648$47,742$46,864$46,013$45,187$42,852
3 years$32,110$31,200$30,324$29,481$28,668$26,404
4 years$23,842$22,935$22,068$21,239$20,447$18,269
5 years$18,883$17,982$17,126$16,314$15,543$13,459
6 years$15,578$14,683$13,840$13,046$12,299$10,310
7 years$13,218$12,331$11,501$10,726$10,002$8,109
8 years$11,449$10,570$9,754$8,998$8,298$6,500
9 years$10,074$9,203$8,401$7,664$6,988$5,284
10 years$8,975$8,112$7,324$6,607$5,954$4,341
11 years$8,076$7,222$6,448$5,750$5,121$3,597
12 years$7,327$6,482$5,723$5,043$4,437$3,000
13 years$6,694$5,858$5,113$4,452$3,870$2,516
14 years$6,152$5,324$4,594$3,952$3,392$2,119
15 years$5,682$4,864$4,148$3,525$2,987$1,792
16 years$5,272$4,463$3,760$3,156$2,640$1,519
17 years$4,910$4,110$3,422$2,836$2,340$1,291
18 years$4,589$3,798$3,124$2,556$2,081$1,100
19 years$4,302$3,520$2,860$2,309$1,855$939
20 years$4,044$3,271$2,624$2,091$1,657$802
21 years$3,811$3,046$2,414$1,898$1,483$686
22 years$3,600$2,844$2,225$1,726$1,329$588
23 years$3,407$2,660$2,054$1,572$1,193$504
24 years$3,230$2,492$1,900$1,433$1,072$433
25 years$3,068$2,339$1,760$1,309$965$371
26 years$2,919$2,198$1,632$1,197$869$319
27 years$2,780$2,069$1,515$1,096$784$274
28 years$2,652$1,949$1,409$1,004$707$236
29 years$2,533$1,839$1,311$921$638$203
30 years$2,422$1,737$1,221$845$577$175
31 years$2,319$1,642$1,138$776$522$150
32 years$2,222$1,553$1,062$713$472$129
33 years$2,131$1,471$992$656$427$111
34 years$2,046$1,394$927$603$387$96
35 years$1,966$1,322$866$555$350$83
36 years$1,890$1,255$810$512$317$71
37 years$1,819$1,192$759$471$288$61
38 years$1,751$1,133$710$434$261$53
39 years$1,687$1,077$666$401$236$46
40 years$1,627$1,025$624$369$214$39
41 years$1,570$976$585$341$195$34
42 years$1,515$929$549$315$176$29
43 years$1,463$885$515$290$160$25
44 years$1,414$844$483$268$145$22
45 years$1,367$805$454$248$132$19
46 years$1,322$768$426$229$120$16
47 years$1,279$733$400$211$109$14
48 years$1,238$699$376$195$99$12
49 years$1,199$668$354$180$90$10
50 years$1,162$638$333$167$82$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,190,000, adding $5,403 every year, while hoping to spend $24,527 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: 69/6/25 Blend
46$1,190,000$1,190,000$1,190,000$1,190,000
47$1,316,953$1,253,883$1,235,438$1,399,055
48$1,425,186$1,289,227$1,250,729$1,490,116
49$1,543,636$1,325,480$1,265,710$1,586,403
50$1,673,321$1,362,663$1,280,344$1,691,203
51$1,815,358$1,400,792$1,294,595$1,805,359
52$1,970,981$1,439,887$1,308,420$1,929,798
53$2,141,548$1,479,968$1,321,778$2,065,543
54$2,328,551$1,521,052$1,334,624$2,213,720
55$2,533,640$1,563,160$1,346,910$2,375,571
56$2,758,625$1,606,309$1,358,586$2,552,462
57$3,005,506$1,650,519$1,369,600$2,745,899
58$3,276,482$1,695,809$1,379,896$2,957,544
59$3,573,977$1,742,197$1,389,416$3,189,223
60$3,900,660$1,789,702$1,398,098$3,442,954
61$4,259,471$1,838,342$1,405,879$3,720,957
62$4,653,652$1,888,135$1,412,690$4,025,678
63$5,086,769$1,939,098$1,418,460$4,359,814
64$5,562,756$1,991,251$1,423,115$4,726,337
65$6,085,943$2,044,608$1,426,575$5,128,520
66$6,661,102$2,099,187$1,428,759$5,569,973
67$7,293,491$2,155,004$1,429,579$6,054,672
68$7,988,902$2,212,074$1,428,944$6,586,997
69$8,753,717$2,270,411$1,426,760$7,171,779
70$9,594,965$2,330,031$1,422,926$7,814,338
71$10,520,395$2,390,946$1,417,338$8,520,539
72$11,538,541$2,453,168$1,409,884$9,296,845
73$12,658,807$2,516,708$1,400,450$10,150,376
74$13,891,556$2,581,577$1,388,915$11,088,982
75$15,248,203$2,647,783$1,375,153$12,121,311
76$16,741,330$2,715,335$1,359,031$13,256,896
77$18,384,796$2,784,237$1,340,409$14,506,240
78$20,193,876$2,854,495$1,319,143$15,880,921
79$22,185,397$2,926,111$1,295,080$17,393,694
80$24,377,903$2,999,086$1,268,061$19,058,620
81$26,791,828$3,073,419$1,237,919$20,891,191
82$29,449,685$3,149,107$1,204,480$22,908,483
83$32,376,283$3,226,145$1,167,561$25,129,313
84$35,598,961$3,304,523$1,126,971$27,574,417
85$39,147,841$3,384,230$1,082,511$30,266,649
86$43,056,118$3,465,254$1,033,972$33,231,194
87$47,360,367$3,547,577$981,135$36,495,807
88$52,100,894$3,631,178$923,773$40,091,075
89$57,322,113$3,716,033$861,647$44,050,707
90$63,072,964$3,802,114$794,507$48,411,849
91$69,407,378$3,889,390$722,095$53,215,441
92$76,384,782$3,977,822$644,137$58,506,599
93$84,070,665$4,067,370$560,351$64,335,041
94$92,537,188$4,157,986$470,438$70,755,559
95$101,863,873$4,249,619$374,089$77,828,537
96$112,138,349$4,342,211$270,982$85,620,519
97$123,457,178$4,435,698$160,778$94,204,838
98$135,926,771$4,530,007$43,124$103,662,311
99$149,664,386$4,625,062$0$114,082,000
100$164,799,241$4,720,777$0$125,584,043