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

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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$109,004$108,033$107,086$106,161$105,259$102,881
2 years$53,963$52,958$51,984$51,039$50,123$47,741
3 years$35,618$34,608$33,637$32,701$31,800$29,487
4 years$26,447$25,441$24,479$23,559$22,680$20,454
5 years$20,946$19,946$18,997$18,096$17,241$15,109
6 years$17,280$16,287$15,352$14,471$13,642$11,605
7 years$14,662$13,678$12,758$11,898$11,095$9,154
8 years$12,700$11,725$10,820$9,981$9,204$7,359
9 years$11,175$10,208$9,319$8,501$7,751$6,000
10 years$9,955$8,998$8,124$7,328$6,604$4,945
11 years$8,958$8,011$7,153$6,378$5,680$4,110
12 years$8,127$7,190$6,348$5,594$4,922$3,440
13 years$7,425$6,498$5,671$4,939$4,292$2,894
14 years$6,824$5,906$5,096$4,384$3,763$2,446
15 years$6,303$5,395$4,601$3,910$3,313$2,075
16 years$5,848$4,950$4,171$3,501$2,928$1,766
17 years$5,447$4,559$3,796$3,146$2,596$1,507
18 years$5,091$4,213$3,465$2,835$2,308$1,288
19 years$4,772$3,904$3,172$2,561$2,057$1,103
20 years$4,486$3,628$2,911$2,320$1,838$946
21 years$4,228$3,379$2,678$2,105$1,645$813
22 years$3,993$3,154$2,468$1,914$1,474$699
23 years$3,779$2,950$2,279$1,743$1,323$602
24 years$3,583$2,764$2,107$1,590$1,189$518
25 years$3,403$2,594$1,952$1,452$1,070$447
26 years$3,237$2,438$1,810$1,328$964$385
27 years$3,084$2,294$1,681$1,215$869$333
28 years$2,942$2,162$1,563$1,114$784$287
29 years$2,810$2,040$1,454$1,021$708$248
30 years$2,687$1,926$1,355$937$640$214
31 years$2,572$1,821$1,263$861$579$185
32 years$2,465$1,723$1,178$791$523$160
33 years$2,364$1,632$1,100$727$474$138
34 years$2,269$1,546$1,028$669$429$120
35 years$2,180$1,467$961$616$388$104
36 years$2,096$1,392$899$567$352$90
37 years$2,017$1,322$841$523$319$77
38 years$1,943$1,257$788$482$289$67
39 years$1,872$1,195$738$444$262$58
40 years$1,805$1,137$692$410$238$50
41 years$1,741$1,082$649$378$216$43
42 years$1,681$1,031$609$349$196$38
43 years$1,623$982$571$322$178$33
44 years$1,568$936$536$297$161$28
45 years$1,516$893$503$275$146$24
46 years$1,466$852$473$254$133$21
47 years$1,419$813$444$234$121$18
48 years$1,374$776$417$217$110$16
49 years$1,330$741$392$200$100$14
50 years$1,289$708$369$185$90$12

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 $6,612 every year, while hoping to spend $50,863 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: 36/39/25 Blend
46$1,320,000$1,320,000$1,320,000$1,320,000
47$1,461,460$1,391,500$1,371,040$1,502,872
48$1,556,411$1,405,566$1,362,852$1,548,092
49$1,659,343$1,418,616$1,352,685$1,591,749
50$1,771,015$1,430,547$1,340,419$1,637,876
51$1,892,264$1,441,249$1,325,929$1,686,729
52$2,024,009$1,450,605$1,309,081$1,738,589
53$2,167,262$1,458,489$1,289,740$1,793,773
54$2,323,137$1,464,769$1,267,760$1,852,629
55$2,492,857$1,469,303$1,242,991$1,915,547
56$2,677,771$1,471,941$1,215,273$1,982,960
57$2,879,361$1,472,524$1,184,442$2,055,348
58$3,099,260$1,470,881$1,150,325$2,133,244
59$3,339,264$1,466,834$1,112,741$2,217,241
60$3,601,350$1,460,191$1,071,499$2,307,996
61$3,887,696$1,450,748$1,026,403$2,406,239
62$4,200,698$1,438,292$977,244$2,512,780
63$4,542,995$1,422,594$923,807$2,628,516
64$4,917,491$1,403,412$865,866$2,754,442
65$5,327,387$1,380,490$803,183$2,891,662
66$5,776,203$1,353,557$735,513$3,041,399
67$6,267,819$1,322,325$662,596$3,205,007
68$6,806,507$1,286,489$584,163$3,383,987
69$7,396,972$1,245,728$499,934$3,580,001
70$8,044,394$1,199,699$409,612$3,794,889
71$8,754,480$1,148,043$312,893$4,030,688
72$9,533,517$1,090,377$209,454$4,289,653
73$10,388,426$1,026,296$98,962$4,574,278
74$11,326,835$955,374$0$4,887,326
75$12,357,144$877,159$0$5,236,904
76$13,488,605$791,172$0$5,649,834
77$14,731,413$696,910$0$6,103,529
78$16,096,798$593,839$0$6,602,223
79$17,597,129$481,394$0$7,150,593
80$19,246,035$358,982$0$7,753,801
81$21,058,530$225,972$0$8,417,545
82$23,051,156$81,701$0$9,148,116
83$25,242,137$0$0$9,952,455
84$27,651,550$0$0$10,870,210
85$30,301,517$0$0$11,918,364
86$33,216,410$0$0$13,071,520
87$36,423,083$0$0$14,340,330
88$39,951,121$0$0$15,736,526
89$43,833,126$0$0$17,273,039
90$48,105,016$0$0$18,964,115
91$52,806,367$0$0$20,825,452
92$57,980,786$0$0$22,874,345
93$63,676,324$0$0$25,129,853
94$69,945,924$0$0$27,612,977
95$76,847,924$0$0$30,346,855
96$84,446,604$0$0$33,356,985
97$92,812,796$0$0$36,671,464
98$102,024,547$0$0$40,321,249
99$112,167,860$0$0$44,340,455
100$123,337,500$0$0$48,766,674