Can I retire at age 47 with 1,320,000?

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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$109,004$108,033$107,086$106,161$105,259$103,260
2 years$53,963$52,958$51,984$51,039$50,123$48,117
3 years$35,618$34,608$33,637$32,701$31,800$29,850
4 years$26,447$25,441$24,479$23,559$22,680$20,800
5 years$20,946$19,946$18,997$18,096$17,241$15,437
6 years$17,280$16,287$15,352$14,471$13,642$11,916
7 years$14,662$13,678$12,758$11,898$11,095$9,447
8 years$12,700$11,725$10,820$9,981$9,204$7,634
9 years$11,175$10,208$9,319$8,501$7,751$6,257
10 years$9,955$8,998$8,124$7,328$6,604$5,186
11 years$8,958$8,011$7,153$6,378$5,680$4,335
12 years$8,127$7,190$6,348$5,594$4,922$3,649
13 years$7,425$6,498$5,671$4,939$4,292$3,089
14 years$6,824$5,906$5,096$4,384$3,763$2,627
15 years$6,303$5,395$4,601$3,910$3,313$2,243
16 years$5,848$4,950$4,171$3,501$2,928$1,920
17 years$5,447$4,559$3,796$3,146$2,596$1,649
18 years$5,091$4,213$3,465$2,835$2,308$1,419
19 years$4,772$3,904$3,172$2,561$2,057$1,224
20 years$4,486$3,628$2,911$2,320$1,838$1,057
21 years$4,228$3,379$2,678$2,105$1,645$914
22 years$3,993$3,154$2,468$1,914$1,474$791
23 years$3,779$2,950$2,279$1,743$1,323$686
24 years$3,583$2,764$2,107$1,590$1,189$595
25 years$3,403$2,594$1,952$1,452$1,070$517
26 years$3,237$2,438$1,810$1,328$964$449
27 years$3,084$2,294$1,681$1,215$869$390
28 years$2,942$2,162$1,563$1,114$784$339
29 years$2,810$2,040$1,454$1,021$708$295
30 years$2,687$1,926$1,355$937$640$257
31 years$2,572$1,821$1,263$861$579$224
32 years$2,465$1,723$1,178$791$523$195
33 years$2,364$1,632$1,100$727$474$170
34 years$2,269$1,546$1,028$669$429$148
35 years$2,180$1,467$961$616$388$129
36 years$2,096$1,392$899$567$352$112
37 years$2,017$1,322$841$523$319$98
38 years$1,943$1,257$788$482$289$85
39 years$1,872$1,195$738$444$262$75
40 years$1,805$1,137$692$410$238$65
41 years$1,741$1,082$649$378$216$57
42 years$1,681$1,031$609$349$196$49
43 years$1,623$982$571$322$178$43
44 years$1,568$936$536$297$161$38
45 years$1,516$893$503$275$146$33
46 years$1,466$852$473$254$133$29
47 years$1,419$813$444$234$121$25
48 years$1,374$776$417$217$110$22
49 years$1,330$741$392$200$100$19
50 years$1,289$708$369$185$90$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,320,000, adding $2,393 every year, while hoping to spend $33,198 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: 41/40/19 Blend
46$1,320,000$1,320,000$1,320,000$1,320,000
47$1,457,108$1,387,148$1,366,688$1,508,601
48$1,570,411$1,419,796$1,377,150$1,578,108
49$1,694,158$1,452,931$1,386,849$1,649,903
50$1,829,379$1,486,542$1,395,726$1,726,922
51$1,977,209$1,520,616$1,403,716$1,809,662
52$2,138,897$1,555,138$1,410,753$1,898,666
53$2,315,817$1,590,093$1,416,766$1,994,534
54$2,509,484$1,625,461$1,421,681$2,097,931
55$2,721,564$1,661,221$1,425,420$2,209,583
56$2,953,894$1,697,352$1,427,902$2,330,296
57$3,208,496$1,733,827$1,429,042$2,460,955
58$3,487,596$1,770,618$1,428,749$2,602,538
59$3,793,648$1,807,695$1,426,928$2,756,121
60$4,129,351$1,845,023$1,423,482$2,922,891
61$4,497,682$1,882,567$1,418,306$3,104,157
62$4,901,918$1,920,284$1,411,291$3,301,360
63$5,345,668$1,958,133$1,402,323$3,516,092
64$5,832,909$1,996,064$1,391,284$3,750,105
65$6,368,020$2,034,026$1,378,047$4,005,333
66$6,955,828$2,071,963$1,362,481$4,283,906
67$7,601,648$2,109,815$1,344,450$4,588,174
68$8,311,336$2,147,515$1,323,809$4,920,727
69$9,091,343$2,184,995$1,300,407$5,284,421
70$9,948,777$2,222,176$1,274,088$5,682,405
71$10,891,467$2,258,978$1,244,685$6,118,149
72$11,928,042$2,295,313$1,212,027$6,595,481
73$13,068,005$2,331,085$1,175,932$7,118,620
74$14,321,828$2,366,195$1,136,212$7,692,219
75$15,701,048$2,400,533$1,092,670$8,321,405
76$17,218,379$2,433,983$1,045,098$9,011,834
77$18,887,826$2,466,421$993,281$9,769,739
78$20,724,822$2,497,712$936,993$10,601,993
79$22,746,370$2,527,716$875,999$11,516,172
80$24,971,205$2,556,280$810,051$12,520,630
81$27,419,972$2,583,242$738,891$13,624,576
82$30,115,417$2,608,429$662,252$14,838,161
83$33,082,604$2,631,656$579,852$16,172,577
84$36,349,149$2,652,727$491,396$17,640,162
85$39,945,484$2,671,432$396,579$19,254,519
86$43,905,139$2,687,548$295,081$21,030,639
87$48,265,064$2,700,838$186,566$22,985,054
88$53,065,971$2,711,050$70,687$25,135,982
89$58,352,724$2,717,915$0$27,503,512
90$64,174,757$2,721,148$0$30,120,524
91$70,586,544$2,720,447$0$33,016,677
92$77,648,112$2,715,489$0$36,204,611
93$85,425,604$2,705,932$0$39,714,068
94$93,991,908$2,691,416$0$43,577,827
95$103,427,341$2,671,553$0$47,832,014
96$113,820,408$2,645,938$0$52,516,447
97$125,268,638$2,614,137$0$57,675,009
98$137,879,502$2,575,693$0$63,356,064
99$151,771,428$2,530,118$0$69,612,916
100$167,074,919$2,476,899$0$76,504,313