Can I retire at age 47 with 1,200,000?

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 $1,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$99,095$98,212$97,351$96,510$95,690$93,452
2 years$49,057$48,143$47,258$46,399$45,567$43,325
3 years$32,380$31,462$30,579$29,728$28,909$26,734
4 years$24,043$23,128$22,254$21,418$20,618$18,526
5 years$19,042$18,133$17,270$16,451$15,674$13,670
6 years$15,709$14,807$13,956$13,156$12,402$10,489
7 years$13,329$12,435$11,598$10,816$10,086$8,264
8 years$11,546$10,659$9,836$9,073$8,367$6,635
9 years$10,159$9,280$8,472$7,729$7,047$5,403
10 years$9,050$8,180$7,386$6,662$6,004$4,448
11 years$8,143$7,282$6,502$5,798$5,164$3,692
12 years$7,388$6,536$5,771$5,086$4,475$3,086
13 years$6,750$5,907$5,156$4,490$3,902$2,593
14 years$6,204$5,369$4,632$3,986$3,421$2,189
15 years$5,730$4,905$4,182$3,554$3,012$1,854
16 years$5,316$4,500$3,792$3,183$2,662$1,576
17 years$4,952$4,144$3,451$2,860$2,360$1,342
18 years$4,628$3,830$3,150$2,577$2,098$1,146
19 years$4,339$3,549$2,884$2,329$1,870$980
20 years$4,078$3,298$2,646$2,109$1,671$839
21 years$3,843$3,072$2,434$1,914$1,495$720
22 years$3,630$2,868$2,244$1,740$1,340$618
23 years$3,435$2,682$2,071$1,585$1,203$531
24 years$3,257$2,513$1,916$1,446$1,081$457
25 years$3,094$2,358$1,774$1,320$973$393
26 years$2,943$2,216$1,646$1,207$876$339
27 years$2,804$2,086$1,528$1,105$790$292
28 years$2,675$1,966$1,421$1,012$713$251
29 years$2,555$1,854$1,322$928$644$217
30 years$2,443$1,751$1,231$852$582$187
31 years$2,338$1,655$1,148$782$526$161
32 years$2,241$1,566$1,071$719$476$139
33 years$2,149$1,483$1,000$661$431$120
34 years$2,063$1,406$934$608$390$104
35 years$1,982$1,333$874$560$353$90
36 years$1,906$1,266$817$516$320$77
37 years$1,834$1,202$765$475$290$67
38 years$1,766$1,142$716$438$263$58
39 years$1,702$1,086$671$404$238$50
40 years$1,641$1,034$629$373$216$43
41 years$1,583$984$590$344$196$37
42 years$1,528$937$553$317$178$32
43 years$1,476$893$519$293$162$28
44 years$1,426$851$487$270$147$24
45 years$1,378$811$458$250$133$21
46 years$1,333$774$430$231$121$18
47 years$1,290$739$404$213$110$15
48 years$1,249$705$379$197$100$13
49 years$1,209$673$357$182$91$12
50 years$1,172$643$335$168$82$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,200,000, adding $5,504 every year, while hoping to spend $20,323 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: 37/33/30 Blend
46$1,200,000$1,200,000$1,200,000$1,200,000
47$1,328,077$1,264,477$1,245,877$1,365,156
48$1,441,918$1,304,813$1,265,991$1,433,518
49$1,566,689$1,346,444$1,286,097$1,505,081
50$1,703,484$1,389,413$1,306,174$1,582,002
51$1,853,507$1,433,762$1,326,199$1,664,780
52$2,018,085$1,479,537$1,346,147$1,753,964
53$2,198,679$1,526,784$1,365,992$1,850,157
54$2,396,899$1,575,550$1,385,707$1,954,024
55$2,614,516$1,625,886$1,405,261$2,066,295
56$2,853,484$1,677,841$1,424,625$2,187,775
57$3,115,953$1,731,470$1,443,764$2,319,349
58$3,404,294$1,786,825$1,462,644$2,461,991
59$3,721,117$1,843,965$1,481,228$2,616,774
60$4,069,298$1,902,946$1,499,476$2,784,877
61$4,452,005$1,963,829$1,517,347$2,967,602
62$4,872,729$2,026,676$1,534,797$3,166,380
63$5,335,315$2,091,551$1,551,781$3,382,785
64$5,844,000$2,158,520$1,568,248$3,618,555
65$6,403,453$2,227,652$1,584,149$3,875,599
66$7,018,815$2,299,017$1,599,429$4,156,022
67$7,695,755$2,372,689$1,614,029$4,462,144
68$8,440,514$2,448,743$1,627,892$4,796,516
69$9,259,972$2,527,257$1,640,952$5,161,951
70$10,161,708$2,608,312$1,653,143$5,561,547
71$11,154,074$2,691,991$1,664,394$5,998,716
72$12,246,271$2,778,380$1,674,633$6,477,218
73$13,448,438$2,867,568$1,683,781$7,001,192
74$14,771,747$2,959,648$1,691,756$7,575,200
75$16,228,509$3,054,713$1,698,473$8,204,269
76$17,832,286$3,152,864$1,703,842$8,893,935
77$19,598,025$3,254,200$1,707,766$9,650,298
78$21,542,196$3,358,828$1,710,149$10,480,079
79$23,682,945$3,466,856$1,710,883$11,390,682
80$26,040,268$3,578,395$1,709,861$12,390,266
81$28,636,202$3,693,562$1,706,967$13,487,819
82$31,495,024$3,812,477$1,702,081$14,693,246
83$34,643,492$3,935,263$1,695,076$16,017,461
84$38,111,086$4,062,049$1,685,819$17,472,486
85$41,930,295$4,192,967$1,674,172$19,071,572
86$46,136,917$4,328,155$1,659,989$20,829,318
87$50,770,401$4,467,753$1,643,117$22,761,810
88$55,874,218$4,611,909$1,623,397$24,886,774
89$61,496,268$4,760,772$1,600,661$27,223,743
90$67,689,339$4,914,501$1,574,734$29,794,238
91$74,511,597$5,073,257$1,545,433$32,621,978
92$82,027,140$5,237,208$1,512,566$35,733,095
93$90,306,603$5,406,525$1,475,931$39,156,388
94$99,427,821$5,581,389$1,435,319$42,923,590
95$109,476,566$5,761,985$1,390,510$47,069,670
96$120,547,357$5,948,504$1,341,274$51,633,163
97$132,744,351$6,141,144$1,287,370$56,656,532
98$146,182,325$6,340,110$1,228,546$62,186,568
99$160,987,760$6,545,613$1,164,541$68,274,836
100$177,300,038$6,757,874$1,095,079$74,978,158