Can I retire at age 47 with 1,210,000?

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 $1,210,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$99,921$99,031$98,162$97,315$96,487$95,202
2 years$49,466$48,544$47,652$46,786$45,946$44,654
3 years$32,650$31,724$30,834$29,976$29,150$27,891
4 years$24,243$23,321$22,439$21,596$20,790$19,573
5 years$19,201$18,284$17,414$16,588$15,804$14,633
6 years$15,840$14,930$14,073$13,265$12,505$11,381
7 years$13,441$12,538$11,695$10,906$10,170$9,094
8 years$11,642$10,748$9,918$9,149$8,437$7,408
9 years$10,243$9,358$8,542$7,793$7,105$6,123
10 years$9,125$8,248$7,447$6,718$6,054$5,119
11 years$8,211$7,343$6,557$5,846$5,207$4,317
12 years$7,450$6,591$5,819$5,128$4,512$3,666
13 years$6,806$5,956$5,199$4,527$3,935$3,132
14 years$6,255$5,414$4,671$4,019$3,449$2,689
15 years$5,778$4,946$4,217$3,584$3,037$2,318
16 years$5,361$4,538$3,824$3,209$2,684$2,004
17 years$4,993$4,179$3,479$2,883$2,380$1,738
18 years$4,667$3,862$3,176$2,599$2,116$1,511
19 years$4,375$3,579$2,908$2,348$1,886$1,316
20 years$4,112$3,326$2,668$2,127$1,685$1,149
21 years$3,875$3,098$2,455$1,930$1,508$1,004
22 years$3,660$2,892$2,262$1,755$1,351$879
23 years$3,464$2,704$2,089$1,598$1,213$770
24 years$3,285$2,534$1,932$1,458$1,090$676
25 years$3,120$2,378$1,789$1,331$981$593
26 years$2,968$2,235$1,659$1,217$884$521
27 years$2,827$2,103$1,541$1,114$797$458
28 years$2,697$1,982$1,432$1,021$719$403
29 years$2,576$1,870$1,333$936$649$355
30 years$2,463$1,766$1,242$859$587$312
31 years$2,358$1,669$1,158$789$530$275
32 years$2,259$1,579$1,080$725$480$242
33 years$2,167$1,496$1,008$667$434$214
34 years$2,080$1,418$942$613$393$188
35 years$1,999$1,345$881$565$356$166
36 years$1,922$1,276$824$520$323$146
37 years$1,849$1,212$771$479$292$129
38 years$1,781$1,152$722$442$265$114
39 years$1,716$1,095$677$407$240$101
40 years$1,654$1,042$634$376$218$89
41 years$1,596$992$595$347$198$78
42 years$1,541$945$558$320$179$69
43 years$1,488$900$524$295$163$61
44 years$1,438$858$491$273$148$54
45 years$1,390$818$461$252$134$48
46 years$1,344$781$433$233$122$42
47 years$1,301$745$407$215$111$37
48 years$1,259$711$383$199$100$33
49 years$1,219$679$360$183$91$29
50 years$1,181$649$338$170$83$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,210,000, adding $2,181 every year, while hoping to spend $28,682 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: 60/20/20 Blend
46$1,210,000$1,210,000$1,210,000$1,210,000
47$1,335,670$1,271,540$1,252,785$1,408,690
48$1,441,391$1,303,328$1,264,236$1,490,174
49$1,556,934$1,335,712$1,275,109$1,575,688
50$1,683,271$1,368,692$1,285,355$1,668,336
51$1,821,471$1,402,264$1,294,921$1,768,814
52$1,972,713$1,436,427$1,303,753$1,877,890
53$2,138,293$1,471,176$1,311,792$1,996,409
54$2,319,640$1,506,504$1,318,978$2,125,300
55$2,518,327$1,542,406$1,325,247$2,265,589
56$2,736,085$1,578,873$1,330,531$2,418,407
57$2,974,822$1,615,894$1,334,761$2,584,997
58$3,236,640$1,653,459$1,337,861$2,766,731
59$3,523,852$1,691,554$1,339,755$2,965,122
60$3,839,008$1,730,163$1,340,359$3,181,833
61$4,184,915$1,769,269$1,339,590$3,418,700
62$4,564,666$1,808,853$1,337,355$3,677,746
63$4,981,668$1,848,892$1,333,562$3,961,199
64$5,439,673$1,889,363$1,328,112$4,271,515
65$5,942,815$1,930,237$1,320,899$4,611,401
66$6,495,650$1,971,486$1,311,817$4,983,838
67$7,103,193$2,013,076$1,300,750$5,392,114
68$7,770,973$2,054,971$1,287,579$5,839,852
69$8,505,079$2,097,132$1,272,180$6,331,044
70$9,312,220$2,139,514$1,254,421$6,870,090
71$10,199,788$2,182,072$1,234,165$7,461,840
72$11,175,926$2,224,753$1,211,269$8,111,636
73$12,249,606$2,267,501$1,185,583$8,825,370
74$13,430,715$2,310,258$1,156,948$9,609,533
75$14,730,143$2,352,956$1,125,202$10,471,278
76$16,159,892$2,395,525$1,090,170$11,418,491
77$17,733,185$2,437,889$1,051,675$12,459,861
78$19,464,590$2,479,967$1,009,527$13,604,966
79$21,370,162$2,521,668$963,529$14,864,360
80$23,467,587$2,562,899$913,476$16,249,678
81$25,776,357$2,603,557$859,153$17,773,739
82$28,317,946$2,643,531$800,335$19,450,674
83$31,116,017$2,682,706$736,788$21,296,057
84$34,196,646$2,720,953$668,265$23,327,050
85$37,588,562$2,758,138$594,510$25,562,570
86$41,323,426$2,794,118$515,257$28,023,464
87$45,436,122$2,828,736$430,225$30,732,708
88$49,965,091$2,861,828$339,121$33,715,625
89$54,952,691$2,893,218$241,642$37,000,121
90$60,445,597$2,922,718$137,469$40,616,953
91$66,495,244$2,950,127$26,270$44,600,020
92$73,158,306$2,975,231$0$48,986,678
93$80,497,239$2,997,802$0$53,837,818
94$88,580,861$3,017,598$0$59,186,362
95$97,485,009$3,034,361$0$65,076,785
96$107,293,250$3,047,815$0$71,564,284
97$118,097,673$3,057,669$0$78,709,686
98$129,999,752$3,063,612$0$86,580,021
99$143,111,312$3,065,314$0$95,249,157
100$157,555,575$3,062,424$0$104,798,494