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

Use the below retirement simulation to view the chances of a successful retirement.
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%
1 years$99,921$99,031$98,162$97,315$96,487$95,281
2 years$49,466$48,544$47,652$46,786$45,946$44,733
3 years$32,650$31,724$30,834$29,976$29,150$27,967
4 years$24,243$23,321$22,439$21,596$20,790$19,646
5 years$19,201$18,284$17,414$16,588$15,804$14,703
6 years$15,840$14,930$14,073$13,265$12,505$11,448
7 years$13,441$12,538$11,695$10,906$10,170$9,158
8 years$11,642$10,748$9,918$9,149$8,437$7,469
9 years$10,243$9,358$8,542$7,793$7,105$6,181
10 years$9,125$8,248$7,447$6,718$6,054$5,173
11 years$8,211$7,343$6,557$5,846$5,207$4,368
12 years$7,450$6,591$5,819$5,128$4,512$3,715
13 years$6,806$5,956$5,199$4,527$3,935$3,178
14 years$6,255$5,414$4,671$4,019$3,449$2,731
15 years$5,778$4,946$4,217$3,584$3,037$2,357
16 years$5,361$4,538$3,824$3,209$2,684$2,042
17 years$4,993$4,179$3,479$2,883$2,380$1,773
18 years$4,667$3,862$3,176$2,599$2,116$1,544
19 years$4,375$3,579$2,908$2,348$1,886$1,347
20 years$4,112$3,326$2,668$2,127$1,685$1,177
21 years$3,875$3,098$2,455$1,930$1,508$1,030
22 years$3,660$2,892$2,262$1,755$1,351$903
23 years$3,464$2,704$2,089$1,598$1,213$793
24 years$3,285$2,534$1,932$1,458$1,090$696
25 years$3,120$2,378$1,789$1,331$981$612
26 years$2,968$2,235$1,659$1,217$884$539
27 years$2,827$2,103$1,541$1,114$797$474
28 years$2,697$1,982$1,432$1,021$719$418
29 years$2,576$1,870$1,333$936$649$368
30 years$2,463$1,766$1,242$859$587$325
31 years$2,358$1,669$1,158$789$530$287
32 years$2,259$1,579$1,080$725$480$253
33 years$2,167$1,496$1,008$667$434$223
34 years$2,080$1,418$942$613$393$197
35 years$1,999$1,345$881$565$356$174
36 years$1,922$1,276$824$520$323$154
37 years$1,849$1,212$771$479$292$136
38 years$1,781$1,152$722$442$265$120
39 years$1,716$1,095$677$407$240$106
40 years$1,654$1,042$634$376$218$94
41 years$1,596$992$595$347$198$83
42 years$1,541$945$558$320$179$73
43 years$1,488$900$524$295$163$65
44 years$1,438$858$491$273$148$57
45 years$1,390$818$461$252$134$51
46 years$1,344$781$433$233$122$45
47 years$1,301$745$407$215$111$40
48 years$1,259$711$383$199$100$35
49 years$1,219$679$360$183$91$31
50 years$1,181$649$338$170$83$28

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 $3,626 every year, while hoping to spend $45,937 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: 44/32/24 Blend
46$1,210,000$1,210,000$1,210,000$1,210,000
47$1,337,160$1,273,030$1,254,275$1,386,547
48$1,424,674$1,286,532$1,247,417$1,435,421
49$1,519,574$1,299,156$1,238,789$1,483,640
50$1,622,567$1,310,810$1,228,284$1,534,994
51$1,734,426$1,321,397$1,215,789$1,589,799
52$1,856,005$1,330,814$1,201,186$1,648,405
53$1,988,243$1,338,948$1,184,350$1,711,199
54$2,132,170$1,345,684$1,165,153$1,778,609
55$2,288,924$1,350,895$1,143,458$1,851,111
56$2,459,754$1,354,448$1,119,124$1,929,231
57$2,646,035$1,356,203$1,092,001$2,013,552
58$2,849,282$1,356,007$1,061,934$2,104,719
59$3,071,160$1,353,703$1,028,760$2,203,445
60$3,313,505$1,349,121$992,310$2,310,522
61$3,578,334$1,342,080$952,404$2,426,824
62$3,867,873$1,332,390$908,858$2,553,320
63$4,184,567$1,319,849$861,476$2,691,079
64$4,531,112$1,304,241$810,055$2,841,287
65$4,910,477$1,285,340$754,383$3,005,253
66$5,325,928$1,262,904$694,237$3,184,426
67$5,781,064$1,236,678$629,386$3,380,407
68$6,279,849$1,206,391$559,587$3,594,969
69$6,826,647$1,171,758$484,586$3,830,068
70$7,426,266$1,132,475$404,120$4,087,868
71$8,083,999$1,088,220$317,913$4,370,761
72$8,805,680$1,038,656$225,675$4,681,389
73$9,597,731$983,421$127,107$5,022,671
74$10,467,228$922,137$21,894$5,397,833
75$11,421,965$854,402$0$5,810,438
76$12,470,529$779,791$0$6,287,570
77$13,622,377$697,855$0$6,817,915
78$14,887,929$608,119$0$7,400,754
79$16,278,663$510,083$0$8,041,484
80$17,807,226$403,216$0$8,746,058
81$19,487,548$286,959$0$9,521,042
82$21,334,979$160,721$0$10,373,680
83$23,366,428$23,877$0$11,311,961
84$25,600,526$0$0$12,344,696
85$28,057,801$0$0$13,525,349
86$30,760,867$0$0$14,833,513
87$33,734,642$0$0$16,272,860
88$37,006,582$0$0$17,856,699
89$40,606,936$0$0$19,599,697
90$44,569,036$0$0$21,518,012
91$48,929,606$0$0$23,629,447
92$53,729,111$0$0$25,953,622
93$59,012,140$0$0$28,512,152
94$64,827,821$0$0$31,328,858
95$71,230,290$0$0$34,429,984
96$78,279,197$0$0$37,844,451
97$86,040,270$0$0$41,604,125
98$94,585,935$0$0$45,744,122
99$103,995,999$0$0$50,303,135
100$114,358,401$0$0$55,323,800