Can I retire at age 47 with 1,230,000?

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$101,572$100,667$99,785$98,923$98,082$95,440
2 years$50,283$49,347$48,439$47,559$46,706$44,063
3 years$33,189$32,249$31,343$30,472$29,632$27,071
4 years$24,644$23,706$22,810$21,953$21,134$18,674
5 years$19,518$18,586$17,701$16,862$16,066$13,714
6 years$16,102$15,177$14,305$13,485$12,712$10,471
7 years$13,663$12,745$11,888$11,087$10,338$8,208
8 years$11,834$10,925$10,082$9,300$8,577$6,556
9 years$10,413$9,512$8,683$7,922$7,223$5,310
10 years$9,276$8,385$7,570$6,829$6,154$4,347
11 years$8,347$7,464$6,665$5,943$5,293$3,588
12 years$7,573$6,700$5,915$5,213$4,587$2,981
13 years$6,919$6,055$5,285$4,602$4,000$2,490
14 years$6,359$5,503$4,748$4,085$3,506$2,089
15 years$5,873$5,027$4,287$3,643$3,087$1,758
16 years$5,449$4,613$3,887$3,262$2,728$1,484
17 years$5,076$4,248$3,537$2,931$2,419$1,256
18 years$4,744$3,925$3,229$2,641$2,151$1,065
19 years$4,447$3,638$2,956$2,387$1,917$905
20 years$4,180$3,381$2,713$2,162$1,712$770
21 years$3,939$3,149$2,495$1,962$1,532$656
22 years$3,721$2,939$2,300$1,784$1,374$559
23 years$3,521$2,749$2,123$1,625$1,233$477
24 years$3,339$2,576$1,964$1,482$1,108$407
25 years$3,171$2,417$1,819$1,353$997$348
26 years$3,017$2,272$1,687$1,237$898$298
27 years$2,874$2,138$1,566$1,132$810$255
28 years$2,741$2,015$1,456$1,038$731$218
29 years$2,618$1,901$1,355$951$660$186
30 years$2,504$1,795$1,262$873$596$160
31 years$2,397$1,697$1,177$802$539$137
32 years$2,297$1,606$1,098$737$488$117
33 years$2,203$1,520$1,025$678$441$100
34 years$2,115$1,441$958$624$400$86
35 years$2,032$1,367$895$574$362$74
36 years$1,954$1,297$838$529$328$63
37 years$1,880$1,232$784$487$297$54
38 years$1,810$1,171$734$449$269$46
39 years$1,744$1,113$688$414$244$40
40 years$1,682$1,059$645$382$222$34
41 years$1,622$1,008$605$352$201$29
42 years$1,566$960$567$325$182$25
43 years$1,512$915$532$300$166$21
44 years$1,461$872$500$277$150$18
45 years$1,413$832$469$256$136$16
46 years$1,366$793$441$236$124$14
47 years$1,322$757$414$218$112$12
48 years$1,280$723$389$202$102$10
49 years$1,240$690$366$187$93$9
50 years$1,201$659$344$172$84$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,230,000, adding $3,648 every year, while hoping to spend $30,728 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: 29/43/28 Blend
46$1,230,000$1,230,000$1,230,000$1,230,000
47$1,359,223$1,294,033$1,274,968$1,386,804
48$1,465,169$1,324,746$1,284,985$1,439,604
49$1,580,892$1,355,935$1,294,308$1,493,414
50$1,707,357$1,387,589$1,302,881$1,550,653
51$1,845,625$1,419,698$1,310,645$1,611,636
52$1,996,866$1,452,251$1,317,539$1,676,716
53$2,162,368$1,485,233$1,323,498$1,746,279
54$2,343,548$1,518,628$1,328,454$1,820,751
55$2,541,969$1,552,419$1,332,335$1,900,602
56$2,759,348$1,586,586$1,335,067$1,986,351
57$2,997,581$1,621,108$1,336,571$2,078,571
58$3,258,751$1,655,960$1,336,764$2,177,894
59$3,545,157$1,691,115$1,335,558$2,285,017
60$3,859,327$1,726,544$1,332,864$2,400,708
61$4,204,049$1,762,215$1,328,585$2,525,816
62$4,582,391$1,798,092$1,322,622$2,661,276
63$4,997,734$1,834,138$1,314,869$2,808,122
64$5,453,802$1,870,310$1,305,216$2,967,494
65$5,954,698$1,906,563$1,293,548$3,140,648
66$6,504,940$1,942,847$1,279,745$3,328,971
67$7,109,506$1,979,110$1,263,680$3,533,995
68$7,773,883$2,015,293$1,245,219$3,757,406
69$8,504,110$2,051,334$1,224,226$4,001,069
70$9,306,845$2,087,165$1,200,553$4,267,038
71$10,189,422$2,122,715$1,174,050$4,557,581
72$11,159,920$2,157,905$1,144,558$4,875,197
73$12,227,241$2,192,651$1,111,910$5,222,647
74$13,401,192$2,226,864$1,075,931$5,602,973
75$14,692,580$2,260,446$1,036,441$6,019,534
76$16,113,310$2,293,295$993,249$6,476,031
77$17,676,500$2,325,299$946,155$6,976,551
78$19,396,604$2,356,339$894,952$7,525,598
79$21,289,547$2,386,289$839,423$8,128,142
80$23,372,877$2,415,013$779,339$8,789,664
81$25,665,928$2,442,367$714,465$9,516,209
82$28,190,004$2,468,194$644,551$10,314,444
83$30,968,580$2,492,331$569,339$11,191,721
84$34,027,521$2,514,602$488,558$12,156,150
85$37,395,329$2,534,818$401,925$13,216,672
86$41,103,409$2,552,780$309,146$14,383,148
87$45,186,366$2,568,276$209,912$15,666,454
88$49,682,333$2,581,079$103,901$17,078,580
89$54,633,328$2,590,948$0$18,632,749
90$60,085,651$2,597,628$0$20,346,299
91$66,090,322$2,600,847$0$22,265,855
92$72,703,562$2,600,315$0$24,378,178
93$79,987,321$2,595,726$0$26,702,927
94$88,009,865$2,586,754$0$29,261,771
95$96,846,419$2,573,054$0$32,078,593
96$106,579,878$2,554,257$0$35,179,719
97$117,301,586$2,529,977$0$38,594,164
98$129,112,202$2,499,799$0$42,353,908
99$142,122,644$2,463,287$0$46,494,202
100$156,455,142$2,419,977$0$51,053,897