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%13.5%
1 years$98,269$97,394$96,540$95,706$94,892$93,513
2 years$48,648$47,742$46,864$46,013$45,187$43,800
3 years$32,110$31,200$30,324$29,481$28,668$27,317
4 years$23,842$22,935$22,068$21,239$20,447$19,141
5 years$18,883$17,982$17,126$16,314$15,543$14,288
6 years$15,578$14,683$13,840$13,046$12,299$11,095
7 years$13,218$12,331$11,501$10,726$10,002$8,850
8 years$11,449$10,570$9,754$8,998$8,298$7,197
9 years$10,074$9,203$8,401$7,664$6,988$5,939
10 years$8,975$8,112$7,324$6,607$5,954$4,955
11 years$8,076$7,222$6,448$5,750$5,121$4,171
12 years$7,327$6,482$5,723$5,043$4,437$3,536
13 years$6,694$5,858$5,113$4,452$3,870$3,015
14 years$6,152$5,324$4,594$3,952$3,392$2,583
15 years$5,682$4,864$4,148$3,525$2,987$2,222
16 years$5,272$4,463$3,760$3,156$2,640$1,917
17 years$4,910$4,110$3,422$2,836$2,340$1,659
18 years$4,589$3,798$3,124$2,556$2,081$1,439
19 years$4,302$3,520$2,860$2,309$1,855$1,251
20 years$4,044$3,271$2,624$2,091$1,657$1,090
21 years$3,811$3,046$2,414$1,898$1,483$950
22 years$3,600$2,844$2,225$1,726$1,329$830
23 years$3,407$2,660$2,054$1,572$1,193$725
24 years$3,230$2,492$1,900$1,433$1,072$635
25 years$3,068$2,339$1,760$1,309$965$556
26 years$2,919$2,198$1,632$1,197$869$487
27 years$2,780$2,069$1,515$1,096$784$427
28 years$2,652$1,949$1,409$1,004$707$375
29 years$2,533$1,839$1,311$921$638$329
30 years$2,422$1,737$1,221$845$577$289
31 years$2,319$1,642$1,138$776$522$254
32 years$2,222$1,553$1,062$713$472$223
33 years$2,131$1,471$992$656$427$196
34 years$2,046$1,394$927$603$387$173
35 years$1,966$1,322$866$555$350$152
36 years$1,890$1,255$810$512$317$134
37 years$1,819$1,192$759$471$288$118
38 years$1,751$1,133$710$434$261$103
39 years$1,687$1,077$666$401$236$91
40 years$1,627$1,025$624$369$214$80
41 years$1,570$976$585$341$195$71
42 years$1,515$929$549$315$176$62
43 years$1,463$885$515$290$160$55
44 years$1,414$844$483$268$145$48
45 years$1,367$805$454$248$132$42
46 years$1,322$768$426$229$120$37
47 years$1,279$733$400$211$109$33
48 years$1,238$699$376$195$99$29
49 years$1,199$668$354$180$90$26
50 years$1,162$638$333$167$82$23

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 $3,688 every year, while hoping to spend $56,392 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: 80/7/13 Blend
46$1,190,000$1,190,000$1,190,000$1,190,000
47$1,315,184$1,252,114$1,233,669$1,416,819
48$1,389,332$1,253,467$1,214,996$1,485,481
49$1,469,154$1,252,996$1,193,808$1,553,139
50$1,555,167$1,250,553$1,169,960$1,625,760
51$1,647,943$1,245,979$1,143,303$1,703,813
52$1,748,107$1,239,106$1,113,678$1,787,819
53$1,856,349$1,229,757$1,080,921$1,878,349
54$1,973,425$1,217,743$1,044,860$1,976,032
55$2,100,165$1,202,864$1,005,314$2,081,564
56$2,237,485$1,184,907$962,095$2,195,710
57$2,386,389$1,163,648$915,006$2,319,313
58$2,547,983$1,138,849$863,840$2,453,302
59$2,723,482$1,110,258$808,384$2,598,702
60$2,914,224$1,077,607$748,411$2,756,642
61$3,121,679$1,040,613$683,687$2,928,367
62$3,347,465$998,979$613,966$3,115,249
63$3,593,365$952,387$538,992$3,318,801
64$3,861,336$900,503$458,497$3,540,689
65$4,153,537$842,971$372,200$3,782,751
66$4,472,339$779,419$279,811$4,047,014
67$4,820,357$709,449$181,024$4,335,711
68$5,200,465$632,644$75,520$4,651,304
69$5,615,830$548,561$0$4,996,507
70$6,069,937$456,732$0$5,379,456
71$6,566,623$356,665$0$5,809,819
72$7,110,115$247,838$0$6,280,796
73$7,705,064$129,699$0$6,796,449
74$8,356,594$1,668$0$7,361,252
75$9,070,346$0$0$7,980,133
76$9,852,535$0$0$8,669,066
77$10,710,004$0$0$9,424,476
78$11,650,288$0$0$10,252,881
79$12,681,688$0$0$11,161,596
80$13,813,349$0$0$12,158,683
81$15,055,339$0$0$13,253,018
82$16,418,754$0$0$14,454,381
83$17,915,811$0$0$15,773,544
84$19,559,972$0$0$17,222,374
85$21,366,065$0$0$18,813,942
86$23,350,425$0$0$20,562,649
87$25,531,048$0$0$22,484,359
88$27,927,759$0$0$24,596,549
89$30,562,400$0$0$26,918,475
90$33,459,033$0$0$29,471,349
91$36,644,170$0$0$32,278,543
92$40,147,019$0$0$35,365,805
93$43,999,761$0$0$38,761,507
94$48,237,852$0$0$42,496,903
95$52,900,356$0$0$46,606,435
96$58,030,316$0$0$51,128,047
97$63,675,157$0$0$56,103,547
98$69,887,133$0$0$61,579,002
99$76,723,820$0$0$67,605,170
100$84,248,657$0$0$74,237,978