Can I retire at age 47 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$102,398$101,486$100,596$99,727$98,879$96,411
2 years$50,692$49,748$48,833$47,946$47,085$44,614
3 years$33,459$32,511$31,598$30,719$29,873$27,476
4 years$24,844$23,899$22,995$22,132$21,306$19,001
5 years$19,677$18,737$17,845$16,999$16,196$13,991
6 years$16,233$15,300$14,422$13,594$12,815$10,712
7 years$13,774$12,849$11,985$11,177$10,422$8,421
8 years$11,930$11,014$10,164$9,376$8,646$6,746
9 years$10,497$9,590$8,754$7,986$7,282$5,480
10 years$9,352$8,453$7,632$6,884$6,204$4,500
11 years$8,415$7,525$6,719$5,991$5,336$3,726
12 years$7,635$6,754$5,963$5,255$4,624$3,106
13 years$6,975$6,104$5,328$4,640$4,032$2,603
14 years$6,410$5,548$4,787$4,118$3,535$2,191
15 years$5,921$5,068$4,322$3,673$3,112$1,851
16 years$5,494$4,650$3,918$3,289$2,750$1,568
17 years$5,117$4,283$3,566$2,955$2,439$1,332
18 years$4,782$3,957$3,255$2,663$2,168$1,134
19 years$4,483$3,668$2,980$2,406$1,933$967
20 years$4,214$3,408$2,735$2,179$1,726$826
21 years$3,971$3,174$2,515$1,978$1,545$706
22 years$3,751$2,963$2,318$1,798$1,385$604
23 years$3,550$2,771$2,141$1,638$1,243$518
24 years$3,366$2,597$1,980$1,494$1,117$444
25 years$3,197$2,437$1,834$1,364$1,005$381
26 years$3,041$2,290$1,701$1,247$906$327
27 years$2,897$2,155$1,579$1,142$817$281
28 years$2,764$2,031$1,468$1,046$737$241
29 years$2,640$1,916$1,366$959$665$207
30 years$2,524$1,810$1,272$880$601$178
31 years$2,416$1,711$1,186$809$543$153
32 years$2,315$1,619$1,107$743$492$132
33 years$2,221$1,533$1,033$683$445$113
34 years$2,132$1,453$966$629$403$98
35 years$2,048$1,378$903$579$365$84
36 years$1,969$1,308$844$533$331$72
37 years$1,895$1,242$790$491$300$62
38 years$1,825$1,180$740$453$272$54
39 years$1,758$1,123$693$417$246$46
40 years$1,695$1,068$650$385$223$40
41 years$1,635$1,017$609$355$203$34
42 years$1,579$968$572$328$184$29
43 years$1,525$922$536$303$167$25
44 years$1,473$879$504$279$152$22
45 years$1,424$839$473$258$138$19
46 years$1,378$800$444$238$125$16
47 years$1,333$763$417$220$113$14
48 years$1,290$729$392$203$103$12
49 years$1,250$696$369$188$94$10
50 years$1,211$665$346$174$85$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,240,000, adding $2,820 every year, while hoping to spend $46,547 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: 50/28/22 Blend
46$1,240,000$1,240,000$1,240,000$1,240,000
47$1,369,389$1,303,669$1,284,449$1,429,282
48$1,459,541$1,318,023$1,277,952$1,485,475
49$1,557,328$1,331,520$1,269,678$1,541,551
50$1,663,481$1,344,070$1,259,517$1,601,533
51$1,778,801$1,355,575$1,247,356$1,665,809
52$1,904,172$1,365,931$1,233,076$1,734,806
53$2,040,564$1,375,028$1,216,551$1,809,001
54$2,189,047$1,382,750$1,197,650$1,888,917
55$2,350,796$1,388,971$1,176,238$1,975,134
56$2,527,105$1,393,558$1,152,169$2,068,295
57$2,719,398$1,396,371$1,125,295$2,169,108
58$2,929,242$1,397,259$1,095,459$2,278,358
59$3,158,364$1,396,063$1,062,495$2,396,912
60$3,408,661$1,392,615$1,026,233$2,525,726
61$3,682,226$1,386,734$986,493$2,665,860
62$3,981,359$1,378,230$943,087$2,818,484
63$4,308,595$1,366,901$895,818$2,984,889
64$4,666,726$1,352,533$844,481$3,166,506
65$5,058,823$1,334,898$788,863$3,364,910
66$5,488,271$1,313,756$728,738$3,581,847
67$5,958,797$1,288,852$663,872$3,819,239
68$6,474,503$1,259,915$594,022$4,079,215
69$7,039,911$1,226,660$518,930$4,364,123
70$7,659,999$1,188,783$438,331$4,676,555
71$8,340,249$1,145,963$351,945$5,019,377
72$9,086,700$1,097,861$259,481$5,395,749
73$9,906,006$1,044,119$160,636$5,809,164
74$10,805,493$984,355$55,092$6,263,474
75$11,793,234$918,169$0$6,762,936
76$12,878,120$845,136$0$7,325,751
77$14,069,947$764,807$0$7,958,276
78$15,379,506$676,706$0$8,653,370
79$16,818,684$580,333$0$9,417,436
80$18,400,577$475,157$0$10,257,534
81$20,139,616$360,619$0$11,181,448
82$22,051,694$236,127$0$12,197,764
83$24,154,327$101,057$0$13,315,946
84$26,466,809$0$0$14,546,433
85$29,010,399$0$0$15,914,675
86$31,808,521$0$0$17,454,233
87$34,886,981$0$0$19,148,189
88$38,274,216$0$0$21,012,207
89$42,001,554$0$0$23,063,549
90$46,103,517$0$0$25,321,232
91$50,618,141$0$0$27,806,213
92$55,587,336$0$0$30,541,582
93$61,057,284$0$0$33,552,781
94$67,078,867$0$0$36,867,845
95$73,708,154$0$0$40,517,665
96$81,006,927$0$0$44,536,280
97$89,043,261$0$0$48,961,196
98$97,892,171$0$0$53,833,744
99$107,636,315$0$0$59,199,464
100$118,366,774$0$0$65,108,541