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

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$100,746$99,849$98,974$98,119$97,285$96,712
2 years$49,874$48,946$48,045$47,173$46,326$45,748
3 years$32,919$31,987$31,089$30,224$29,391$28,826
4 years$24,443$23,513$22,625$21,775$20,962$20,414
5 years$19,359$18,435$17,558$16,725$15,935$15,406
6 years$15,971$15,053$14,189$13,375$12,609$12,099
7 years$13,552$12,642$11,791$10,996$10,254$9,765
8 years$11,738$10,836$10,000$9,225$8,507$8,037
9 years$10,328$9,435$8,613$7,857$7,164$6,714
10 years$9,201$8,317$7,509$6,773$6,104$5,673
11 years$8,279$7,404$6,611$5,895$5,250$4,838
12 years$7,512$6,645$5,867$5,170$4,549$4,156
13 years$6,863$6,005$5,242$4,565$3,967$3,592
14 years$6,307$5,459$4,710$4,052$3,478$3,121
15 years$5,826$4,987$4,252$3,614$3,062$2,722
16 years$5,405$4,575$3,855$3,236$2,706$2,384
17 years$5,034$4,213$3,508$2,907$2,399$2,093
18 years$4,705$3,893$3,202$2,620$2,133$1,843
19 years$4,411$3,608$2,932$2,367$1,902$1,627
20 years$4,146$3,353$2,691$2,144$1,699$1,439
21 years$3,907$3,123$2,475$1,946$1,520$1,274
22 years$3,690$2,915$2,281$1,769$1,362$1,131
23 years$3,493$2,727$2,106$1,611$1,223$1,004
24 years$3,312$2,555$1,948$1,470$1,099$893
25 years$3,145$2,398$1,804$1,342$989$795
26 years$2,992$2,253$1,673$1,227$891$709
27 years$2,850$2,121$1,554$1,123$803$632
28 years$2,719$1,998$1,444$1,029$725$564
29 years$2,597$1,885$1,344$944$655$504
30 years$2,483$1,780$1,252$866$591$450
31 years$2,377$1,683$1,167$795$535$402
32 years$2,278$1,592$1,089$731$484$360
33 years$2,185$1,508$1,017$672$438$322
34 years$2,097$1,429$950$619$396$288
35 years$2,015$1,356$888$569$359$258
36 years$1,938$1,287$831$524$325$231
37 years$1,864$1,222$778$483$295$207
38 years$1,795$1,161$728$445$267$185
39 years$1,730$1,104$682$411$242$166
40 years$1,668$1,051$640$379$220$149
41 years$1,609$1,000$600$349$199$133
42 years$1,553$953$563$323$181$120
43 years$1,500$908$528$298$164$107
44 years$1,450$865$495$275$149$96
45 years$1,401$825$465$254$135$86
46 years$1,355$787$437$234$123$77
47 years$1,312$751$411$217$112$69
48 years$1,270$717$386$200$101$62
49 years$1,230$685$363$185$92$56
50 years$1,191$654$341$171$84$50

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 $2,855 every year, while hoping to spend $57,200 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: 74/6/20 Blend
46$1,220,000$1,220,000$1,220,000$1,220,000
47$1,347,385$1,282,725$1,263,815$1,440,480
48$1,423,958$1,284,718$1,245,292$1,504,652
49$1,506,424$1,284,892$1,224,232$1,567,722
50$1,595,324$1,283,097$1,200,489$1,635,366
51$1,691,253$1,279,174$1,173,911$1,708,027
52$1,794,862$1,272,954$1,144,338$1,786,193
53$1,906,869$1,264,260$1,111,604$1,870,404
54$2,028,061$1,252,901$1,075,535$1,961,254
55$2,159,307$1,238,676$1,035,949$2,059,401
56$2,301,557$1,221,372$992,654$2,165,568
57$2,455,860$1,200,764$945,452$2,280,554
58$2,623,368$1,176,611$894,135$2,405,242
59$2,805,347$1,148,661$838,484$2,540,602
60$3,003,191$1,116,644$778,272$2,687,709
61$3,218,434$1,080,277$713,262$2,847,746
62$3,452,763$1,039,259$643,204$3,022,018
63$3,708,034$993,272$567,841$3,211,966
64$3,986,290$941,979$486,900$3,419,179
65$4,289,779$885,023$400,098$3,645,409
66$4,620,976$822,029$307,141$3,892,591
67$4,982,604$752,597$207,719$4,162,857
68$5,377,663$676,308$101,511$4,458,559
69$5,809,453$592,715$0$4,782,291
70$6,281,609$501,350$0$5,139,442
71$6,798,131$401,714$0$5,553,924
72$7,363,427$293,284$0$6,007,611
73$7,982,347$175,506$0$6,504,424
74$8,660,234$47,793$0$7,048,683
75$9,402,972$0$0$7,645,147
76$10,217,040$0$0$8,305,030
77$11,109,575$0$0$9,032,031
78$12,088,435$0$0$9,829,403
79$13,162,278$0$0$10,704,203
80$14,340,640$0$0$11,664,208
81$15,634,022$0$0$12,717,981
82$17,053,994$0$0$13,874,955
83$18,613,300$0$0$15,145,523
84$20,325,979$0$0$16,541,131
85$22,207,496$0$0$18,074,390
86$24,274,888$0$0$19,759,193
87$26,546,925$0$0$21,610,844
88$29,044,283$0$0$23,646,204
89$31,789,744$0$0$25,883,849
90$34,808,403$0$0$28,344,244
91$38,127,914$0$0$31,049,937
92$41,778,740$0$0$34,025,770
93$45,794,446$0$0$37,299,114
94$50,212,014$0$0$40,900,124
95$55,072,189$0$0$44,862,026
96$60,419,867$0$0$49,221,431
97$66,304,513$0$0$54,018,674
98$72,780,630$0$0$59,298,201
99$79,908,272$0$0$65,108,983
100$87,753,611$0$0$71,504,979