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%16.9%
1 years$100,746$99,849$98,974$98,119$97,285$94,549
2 years$49,874$48,946$48,045$47,173$46,326$43,591
3 years$32,919$31,987$31,089$30,224$29,391$26,742
4 years$24,443$23,513$22,625$21,775$20,962$18,420
5 years$19,359$18,435$17,558$16,725$15,935$13,506
6 years$15,971$15,053$14,189$13,375$12,609$10,295
7 years$13,552$12,642$11,791$10,996$10,254$8,057
8 years$11,738$10,836$10,000$9,225$8,507$6,424
9 years$10,328$9,435$8,613$7,857$7,164$5,193
10 years$9,201$8,317$7,509$6,773$6,104$4,243
11 years$8,279$7,404$6,611$5,895$5,250$3,495
12 years$7,512$6,645$5,867$5,170$4,549$2,898
13 years$6,863$6,005$5,242$4,565$3,967$2,416
14 years$6,307$5,459$4,710$4,052$3,478$2,023
15 years$5,826$4,987$4,252$3,614$3,062$1,699
16 years$5,405$4,575$3,855$3,236$2,706$1,431
17 years$5,034$4,213$3,508$2,907$2,399$1,209
18 years$4,705$3,893$3,202$2,620$2,133$1,023
19 years$4,411$3,608$2,932$2,367$1,902$867
20 years$4,146$3,353$2,691$2,144$1,699$736
21 years$3,907$3,123$2,475$1,946$1,520$625
22 years$3,690$2,915$2,281$1,769$1,362$532
23 years$3,493$2,727$2,106$1,611$1,223$453
24 years$3,312$2,555$1,948$1,470$1,099$386
25 years$3,145$2,398$1,804$1,342$989$329
26 years$2,992$2,253$1,673$1,227$891$280
27 years$2,850$2,121$1,554$1,123$803$239
28 years$2,719$1,998$1,444$1,029$725$204
29 years$2,597$1,885$1,344$944$655$174
30 years$2,483$1,780$1,252$866$591$149
31 years$2,377$1,683$1,167$795$535$127
32 years$2,278$1,592$1,089$731$484$109
33 years$2,185$1,508$1,017$672$438$93
34 years$2,097$1,429$950$619$396$79
35 years$2,015$1,356$888$569$359$68
36 years$1,938$1,287$831$524$325$58
37 years$1,864$1,222$778$483$295$50
38 years$1,795$1,161$728$445$267$42
39 years$1,730$1,104$682$411$242$36
40 years$1,668$1,051$640$379$220$31
41 years$1,609$1,000$600$349$199$27
42 years$1,553$953$563$323$181$23
43 years$1,500$908$528$298$164$19
44 years$1,450$865$495$275$149$17
45 years$1,401$825$465$254$135$14
46 years$1,355$787$437$234$123$12
47 years$1,312$751$411$217$112$10
48 years$1,270$717$386$200$101$9
49 years$1,230$685$363$185$92$8
50 years$1,191$654$341$171$84$7

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 $2,873 every year, while hoping to spend $34,410 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: 45/41/14 Blend
46$1,220,000$1,220,000$1,220,000$1,220,000
47$1,347,403$1,282,743$1,263,833$1,402,527
48$1,448,227$1,308,986$1,269,560$1,467,438
49$1,558,181$1,335,361$1,274,325$1,534,078
50$1,678,160$1,361,839$1,278,060$1,605,589
51$1,809,151$1,388,387$1,280,693$1,682,433
52$1,952,236$1,414,970$1,282,149$1,765,122
53$2,108,611$1,441,551$1,282,347$1,854,221
54$2,279,589$1,468,087$1,281,206$1,950,352
55$2,466,618$1,494,534$1,278,637$2,054,201
56$2,671,291$1,520,844$1,274,550$2,166,524
57$2,895,363$1,546,965$1,268,847$2,288,155
58$3,140,765$1,572,842$1,261,429$2,420,014
59$3,409,626$1,598,414$1,252,189$2,563,114
60$3,704,288$1,623,616$1,241,018$2,718,575
61$4,027,333$1,648,381$1,227,799$2,887,630
62$4,381,602$1,672,633$1,212,412$3,071,638
63$4,770,227$1,696,293$1,194,728$3,272,100
64$5,196,654$1,719,275$1,174,616$3,490,670
65$5,664,683$1,741,490$1,151,936$3,729,172
66$6,178,497$1,762,840$1,126,542$3,989,618
67$6,742,705$1,783,219$1,098,282$4,274,227
68$7,362,383$1,802,519$1,066,997$4,585,446
69$8,043,123$1,820,620$1,032,519$4,925,973
70$8,791,087$1,837,396$994,673$5,298,784
71$9,613,061$1,852,712$953,278$5,707,161
72$10,516,524$1,866,425$908,143$6,154,721
73$11,509,712$1,878,382$859,069$6,645,457
74$12,601,700$1,888,421$805,846$7,183,768
75$13,802,489$1,896,369$748,257$7,774,507
76$15,123,094$1,902,041$686,074$8,423,026
77$16,575,652$1,905,244$619,060$9,135,225
78$18,173,536$1,905,768$546,966$9,917,610
79$19,931,479$1,903,394$469,533$10,777,356
80$21,865,717$1,897,888$386,489$11,722,374
81$23,994,136$1,889,000$297,552$12,761,386
82$26,336,444$1,876,467$202,426$13,904,009
83$28,914,357$1,860,009$100,803$15,160,848
84$31,751,803$1,839,331$0$16,543,595
85$34,875,145$1,814,117$0$18,066,282
86$38,313,435$1,784,034$0$19,758,123
87$42,098,684$1,748,730$0$21,619,766
88$46,266,161$1,707,829$0$23,668,541
89$50,854,734$1,660,937$0$25,923,551
90$55,907,229$1,607,635$0$28,405,854
91$61,470,835$1,547,478$0$31,138,659
92$67,597,552$1,479,996$0$34,147,552
93$74,344,681$1,404,694$0$37,460,732
94$81,775,360$1,321,046$0$41,109,285
95$89,959,165$1,228,496$0$45,127,474
96$98,972,765$1,126,457$0$49,553,065
97$108,900,641$1,014,307$0$54,427,686
98$119,835,888$891,391$0$59,797,220
99$131,881,094$757,014$0$65,712,241
100$145,149,302$610,444$0$72,228,492