Can I retire at age 47 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$100,746$99,849$98,974$98,119$97,285$93,833
2 years$49,874$48,946$48,045$47,173$46,326$42,885
3 years$32,919$31,987$31,089$30,224$29,391$26,069
4 years$24,443$23,513$22,625$21,775$20,962$17,785
5 years$19,359$18,435$17,558$16,725$15,935$12,911
6 years$15,971$15,053$14,189$13,375$12,609$9,739
7 years$13,552$12,642$11,791$10,996$10,254$7,539
8 years$11,738$10,836$10,000$9,225$8,507$5,944
9 years$10,328$9,435$8,613$7,857$7,164$4,750
10 years$9,201$8,317$7,509$6,773$6,104$3,835
11 years$8,279$7,404$6,611$5,895$5,250$3,121
12 years$7,512$6,645$5,867$5,170$4,549$2,555
13 years$6,863$6,005$5,242$4,565$3,967$2,103
14 years$6,307$5,459$4,710$4,052$3,478$1,737
15 years$5,826$4,987$4,252$3,614$3,062$1,440
16 years$5,405$4,575$3,855$3,236$2,706$1,197
17 years$5,034$4,213$3,508$2,907$2,399$997
18 years$4,705$3,893$3,202$2,620$2,133$831
19 years$4,411$3,608$2,932$2,367$1,902$695
20 years$4,146$3,353$2,691$2,144$1,699$581
21 years$3,907$3,123$2,475$1,946$1,520$487
22 years$3,690$2,915$2,281$1,769$1,362$408
23 years$3,493$2,727$2,106$1,611$1,223$342
24 years$3,312$2,555$1,948$1,470$1,099$287
25 years$3,145$2,398$1,804$1,342$989$241
26 years$2,992$2,253$1,673$1,227$891$202
27 years$2,850$2,121$1,554$1,123$803$170
28 years$2,719$1,998$1,444$1,029$725$143
29 years$2,597$1,885$1,344$944$655$120
30 years$2,483$1,780$1,252$866$591$101
31 years$2,377$1,683$1,167$795$535$85
32 years$2,278$1,592$1,089$731$484$71
33 years$2,185$1,508$1,017$672$438$60
34 years$2,097$1,429$950$619$396$51
35 years$2,015$1,356$888$569$359$43
36 years$1,938$1,287$831$524$325$36
37 years$1,864$1,222$778$483$295$30
38 years$1,795$1,161$728$445$267$25
39 years$1,730$1,104$682$411$242$21
40 years$1,668$1,051$640$379$220$18
41 years$1,609$1,000$600$349$199$15
42 years$1,553$953$563$323$181$13
43 years$1,500$908$528$298$164$11
44 years$1,450$865$495$275$149$9
45 years$1,401$825$465$254$135$8
46 years$1,355$787$437$234$123$6
47 years$1,312$751$411$217$112$5
48 years$1,270$717$386$200$101$5
49 years$1,230$685$363$185$92$4
50 years$1,191$654$341$171$84$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,220,000, adding $6,810 every year, while hoping to spend $24,597 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: 35/40/25 Blend
46$1,220,000$1,220,000$1,220,000$1,220,000
47$1,351,465$1,286,805$1,267,895$1,388,348
48$1,463,143$1,323,687$1,284,198$1,453,224
49$1,585,388$1,361,552$1,300,223$1,520,456
50$1,719,252$1,400,422$1,315,935$1,592,510
51$1,865,893$1,440,320$1,331,296$1,669,836
52$2,026,586$1,481,268$1,346,267$1,752,923
53$2,202,737$1,523,289$1,360,806$1,842,312
54$2,395,892$1,566,407$1,374,869$1,938,599
55$2,607,757$1,610,644$1,388,410$2,042,439
56$2,840,207$1,656,025$1,401,381$2,154,554
57$3,095,311$1,702,573$1,413,730$2,275,737
58$3,375,345$1,750,312$1,425,403$2,406,862
59$3,682,819$1,799,266$1,436,342$2,548,894
60$4,020,496$1,849,459$1,446,489$2,702,892
61$4,391,419$1,900,915$1,455,779$2,870,025
62$4,798,943$1,953,659$1,464,147$3,051,579
63$5,246,762$2,007,715$1,471,523$3,248,972
64$5,738,946$2,063,107$1,477,833$3,463,763
65$6,279,978$2,119,859$1,483,000$3,697,674
66$6,874,799$2,177,995$1,486,943$3,952,598
67$7,528,851$2,237,539$1,489,578$4,230,623
68$8,248,130$2,298,515$1,490,816$4,534,049
69$9,039,242$2,360,946$1,490,561$4,865,409
70$9,909,467$2,424,854$1,488,717$5,227,495
71$10,866,824$2,490,263$1,485,180$5,623,383
72$11,920,149$2,557,195$1,479,843$6,056,463
73$13,079,178$2,625,671$1,472,591$6,530,469
74$14,354,637$2,695,712$1,463,306$7,049,519
75$15,758,347$2,767,339$1,451,864$7,618,145
76$17,303,331$2,840,571$1,438,134$8,241,347
77$19,003,938$2,915,427$1,421,979$8,924,632
78$20,875,981$2,991,924$1,403,257$9,674,069
79$22,936,883$3,070,080$1,381,817$10,496,346
80$25,205,840$3,149,908$1,357,503$11,398,834
81$27,704,006$3,231,425$1,330,150$12,389,656
82$30,454,691$3,314,641$1,299,586$13,477,762
83$33,483,580$3,399,569$1,265,633$14,673,018
84$36,818,975$3,486,217$1,228,101$15,986,296
85$40,492,062$3,574,594$1,186,794$17,429,576
86$44,537,207$3,664,703$1,141,506$19,016,062
87$48,992,277$3,756,549$1,092,022$20,760,306
88$53,899,002$3,850,132$1,038,117$22,678,346
89$59,303,362$3,945,451$979,556$24,787,854
90$65,256,027$4,042,499$916,093$27,108,308
91$71,812,830$4,141,271$847,471$29,661,175
92$79,035,300$4,241,754$773,422$32,470,111
93$86,991,234$4,343,933$693,665$35,561,187
94$95,755,345$4,447,792$607,908$38,963,138
95$105,409,962$4,553,305$515,845$42,707,630
96$116,045,809$4,660,448$417,156$46,829,560
97$127,762,859$4,769,187$311,509$51,367,389
98$140,671,280$4,879,487$198,554$56,363,503
99$154,892,473$4,991,304$77,928$61,864,617
100$170,560,219$5,104,591$0$67,922,210