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

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$101,572$100,667$99,785$98,923$98,082$95,867
2 years$50,283$49,347$48,439$47,559$46,706$44,486
3 years$33,189$32,249$31,343$30,472$29,632$27,477
4 years$24,644$23,706$22,810$21,953$21,134$19,060
5 years$19,518$18,586$17,701$16,862$16,066$14,078
6 years$16,102$15,177$14,305$13,485$12,712$10,814
7 years$13,663$12,745$11,888$11,087$10,338$8,530
8 years$11,834$10,925$10,082$9,300$8,577$6,857
9 years$10,413$9,512$8,683$7,922$7,223$5,591
10 years$9,276$8,385$7,570$6,829$6,154$4,608
11 years$8,347$7,464$6,665$5,943$5,293$3,830
12 years$7,573$6,700$5,915$5,213$4,587$3,205
13 years$6,919$6,055$5,285$4,602$4,000$2,697
14 years$6,359$5,503$4,748$4,085$3,506$2,279
15 years$5,873$5,027$4,287$3,643$3,087$1,934
16 years$5,449$4,613$3,887$3,262$2,728$1,646
17 years$5,076$4,248$3,537$2,931$2,419$1,404
18 years$4,744$3,925$3,229$2,641$2,151$1,200
19 years$4,447$3,638$2,956$2,387$1,917$1,028
20 years$4,180$3,381$2,713$2,162$1,712$882
21 years$3,939$3,149$2,495$1,962$1,532$757
22 years$3,721$2,939$2,300$1,784$1,374$651
23 years$3,521$2,749$2,123$1,625$1,233$561
24 years$3,339$2,576$1,964$1,482$1,108$483
25 years$3,171$2,417$1,819$1,353$997$416
26 years$3,017$2,272$1,687$1,237$898$359
27 years$2,874$2,138$1,566$1,132$810$310
28 years$2,741$2,015$1,456$1,038$731$268
29 years$2,618$1,901$1,355$951$660$231
30 years$2,504$1,795$1,262$873$596$200
31 years$2,397$1,697$1,177$802$539$173
32 years$2,297$1,606$1,098$737$488$149
33 years$2,203$1,520$1,025$678$441$129
34 years$2,115$1,441$958$624$400$112
35 years$2,032$1,367$895$574$362$96
36 years$1,954$1,297$838$529$328$83
37 years$1,880$1,232$784$487$297$72
38 years$1,810$1,171$734$449$269$62
39 years$1,744$1,113$688$414$244$54
40 years$1,682$1,059$645$382$222$47
41 years$1,622$1,008$605$352$201$40
42 years$1,566$960$567$325$182$35
43 years$1,512$915$532$300$166$30
44 years$1,461$872$500$277$150$26
45 years$1,413$832$469$256$136$23
46 years$1,366$793$441$236$124$20
47 years$1,322$757$414$218$112$17
48 years$1,280$723$389$202$102$15
49 years$1,240$690$366$187$93$13
50 years$1,201$659$344$172$84$11

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 $4,490 every year, while hoping to spend $26,721 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: 28/48/24 Blend
46$1,230,000$1,230,000$1,230,000$1,230,000
47$1,360,091$1,294,901$1,275,836$1,387,859
48$1,470,390$1,329,921$1,290,146$1,445,062
49$1,591,043$1,365,760$1,304,039$1,503,837
50$1,723,079$1,402,432$1,317,474$1,566,431
51$1,867,630$1,439,948$1,330,407$1,633,189
52$2,025,942$1,478,320$1,342,789$1,704,489
53$2,199,388$1,517,557$1,354,573$1,780,748
54$2,389,480$1,557,672$1,365,705$1,862,425
55$2,597,883$1,598,673$1,376,132$1,950,026
56$2,826,430$1,640,571$1,385,795$2,044,107
57$3,077,140$1,683,374$1,394,634$2,145,280
58$3,352,240$1,727,091$1,402,585$2,254,220
59$3,654,178$1,771,728$1,409,582$2,371,671
60$3,985,655$1,817,293$1,415,553$2,498,451
61$4,349,642$1,863,791$1,420,425$2,635,462
62$4,749,416$1,911,227$1,424,120$2,783,698
63$5,188,585$1,959,605$1,426,556$2,944,255
64$5,671,122$2,008,928$1,427,647$3,118,338
65$6,201,408$2,059,196$1,427,304$3,307,277
66$6,784,265$2,110,411$1,425,433$3,512,538
67$7,425,008$2,162,569$1,421,933$3,735,735
68$8,129,493$2,215,669$1,416,702$3,978,647
69$8,904,171$2,269,706$1,409,630$4,243,236
70$9,756,147$2,324,672$1,400,604$4,531,663
71$10,693,253$2,380,561$1,389,504$4,846,311
72$11,724,117$2,437,360$1,376,204$5,189,804
73$12,858,243$2,495,057$1,360,573$5,565,038
74$14,106,105$2,553,636$1,342,474$5,975,202
75$15,479,244$2,613,080$1,321,762$6,423,812
76$16,990,374$2,673,368$1,298,288$6,914,745
77$18,653,504$2,734,475$1,271,893$7,452,271
78$20,484,073$2,796,376$1,242,413$8,041,099
79$22,499,089$2,859,039$1,209,674$8,686,420
80$24,717,294$2,922,430$1,173,496$9,393,955
81$27,159,340$2,986,511$1,133,690$10,170,011
82$29,847,982$3,051,239$1,090,059$11,021,538
83$32,808,295$3,116,569$1,042,395$11,956,199
84$36,067,909$3,182,448$990,482$12,982,440
85$39,657,267$3,248,820$934,095$14,109,570
86$43,609,919$3,315,623$872,998$15,347,852
87$47,962,831$3,382,789$806,944$16,708,597
88$52,756,739$3,450,244$735,675$18,204,273
89$58,036,528$3,517,908$658,922$19,848,623
90$63,851,662$3,585,693$576,404$21,656,796
91$70,256,644$3,653,505$487,826$23,645,490
92$77,311,537$3,721,242$392,883$25,833,109
93$85,082,523$3,788,792$291,254$28,239,940
94$93,642,534$3,856,036$182,605$30,888,343
95$103,071,936$3,922,846$66,586$33,802,966
96$113,459,289$3,989,081$0$37,010,975
97$124,902,185$4,054,594$0$40,556,967
98$137,508,162$4,119,224$0$44,478,440
99$151,395,726$4,182,797$0$48,794,804
100$166,695,467$4,245,131$0$53,546,260