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%13%
1 years$109,004$108,033$107,086$106,161$105,259$103,943
2 years$53,963$52,958$51,984$51,039$50,123$48,800
3 years$35,618$34,608$33,637$32,701$31,800$30,510
4 years$26,447$25,441$24,479$23,559$22,680$21,433
5 years$20,946$19,946$18,997$18,096$17,241$16,040
6 years$17,280$16,287$15,352$14,471$13,642$12,489
7 years$14,662$13,678$12,758$11,898$11,095$9,990
8 years$12,700$11,725$10,820$9,981$9,204$8,148
9 years$11,175$10,208$9,319$8,501$7,751$6,743
10 years$9,955$8,998$8,124$7,328$6,604$5,643
11 years$8,958$8,011$7,153$6,378$5,680$4,765
12 years$8,127$7,190$6,348$5,594$4,922$4,052
13 years$7,425$6,498$5,671$4,939$4,292$3,467
14 years$6,824$5,906$5,096$4,384$3,763$2,980
15 years$6,303$5,395$4,601$3,910$3,313$2,572
16 years$5,848$4,950$4,171$3,501$2,928$2,227
17 years$5,447$4,559$3,796$3,146$2,596$1,934
18 years$5,091$4,213$3,465$2,835$2,308$1,684
19 years$4,772$3,904$3,172$2,561$2,057$1,469
20 years$4,486$3,628$2,911$2,320$1,838$1,284
21 years$4,228$3,379$2,678$2,105$1,645$1,124
22 years$3,993$3,154$2,468$1,914$1,474$985
23 years$3,779$2,950$2,279$1,743$1,323$865
24 years$3,583$2,764$2,107$1,590$1,189$760
25 years$3,403$2,594$1,952$1,452$1,070$668
26 years$3,237$2,438$1,810$1,328$964$588
27 years$3,084$2,294$1,681$1,215$869$518
28 years$2,942$2,162$1,563$1,114$784$456
29 years$2,810$2,040$1,454$1,021$708$402
30 years$2,687$1,926$1,355$937$640$355
31 years$2,572$1,821$1,263$861$579$313
32 years$2,465$1,723$1,178$791$523$276
33 years$2,364$1,632$1,100$727$474$244
34 years$2,269$1,546$1,028$669$429$215
35 years$2,180$1,467$961$616$388$190
36 years$2,096$1,392$899$567$352$168
37 years$2,017$1,322$841$523$319$148
38 years$1,943$1,257$788$482$289$131
39 years$1,872$1,195$738$444$262$116
40 years$1,805$1,137$692$410$238$103
41 years$1,741$1,082$649$378$216$91
42 years$1,681$1,031$609$349$196$80
43 years$1,623$982$571$322$178$71
44 years$1,568$936$536$297$161$63
45 years$1,516$893$503$275$146$55
46 years$1,466$852$473$254$133$49
47 years$1,419$813$444$234$121$43
48 years$1,374$776$417$217$110$38
49 years$1,330$741$392$200$100$34
50 years$1,289$708$369$185$90$30

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 $6,633 every year, while hoping to spend $24,969 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: 61/10/29 Blend
46$1,320,000$1,320,000$1,320,000$1,320,000
47$1,461,482$1,391,522$1,371,062$1,538,810
48$1,583,986$1,433,140$1,390,426$1,633,896
49$1,718,149$1,475,960$1,409,601$1,734,387
50$1,865,134$1,520,015$1,428,556$1,843,561
51$2,026,220$1,565,338$1,447,255$1,962,274
52$2,202,819$1,611,964$1,465,663$2,091,466
53$2,396,483$1,659,927$1,483,739$2,232,173
54$2,608,924$1,709,263$1,501,444$2,385,537
55$2,842,026$1,760,009$1,518,734$2,552,815
56$3,097,864$1,812,201$1,535,564$2,735,394
57$3,378,726$1,865,878$1,551,884$2,934,799
58$3,687,129$1,921,080$1,567,645$3,152,713
59$4,025,848$1,977,844$1,582,793$3,390,989
60$4,397,939$2,036,213$1,597,272$3,651,669
61$4,806,769$2,096,229$1,611,021$3,937,003
62$5,256,048$2,157,932$1,623,978$4,249,469
63$5,749,861$2,221,367$1,636,078$4,591,800
64$6,292,711$2,286,578$1,647,250$4,967,006
65$6,889,556$2,353,609$1,657,422$5,378,404
66$7,545,862$2,422,507$1,666,518$5,829,648
67$8,267,649$2,493,319$1,674,455$6,324,767
68$9,061,550$2,566,092$1,681,149$6,868,199
69$9,934,872$2,640,875$1,686,512$7,464,836
70$10,895,668$2,717,717$1,690,449$8,120,066
71$11,952,810$2,796,668$1,692,863$8,839,830
72$13,116,072$2,877,781$1,693,649$9,630,674
73$14,396,225$2,961,106$1,692,701$10,499,811
74$15,805,137$3,046,697$1,689,903$11,455,189
75$17,355,884$3,134,608$1,685,137$12,505,569
76$19,062,873$3,224,893$1,678,278$13,660,605
77$20,941,981$3,317,607$1,669,196$14,930,936
78$23,010,701$3,412,808$1,657,751$16,328,285
79$25,288,308$3,510,551$1,643,802$17,865,574
80$27,796,042$3,610,895$1,627,196$19,557,041
81$30,557,308$3,713,899$1,607,777$21,418,377
82$33,597,894$3,819,620$1,585,378$23,466,876
83$36,946,218$3,928,120$1,559,827$25,721,594
84$40,633,593$4,039,459$1,530,941$28,203,533
85$44,694,524$4,153,697$1,498,532$30,935,839
86$49,167,033$4,270,896$1,462,402$33,944,017
87$54,093,020$4,391,119$1,422,341$37,256,177
88$59,518,651$4,514,427$1,378,133$40,903,296
89$65,494,804$4,640,885$1,329,551$44,919,512
90$72,077,540$4,770,553$1,276,356$49,342,447
91$79,328,636$4,903,498$1,218,301$54,213,561
92$87,316,168$5,039,780$1,155,126$59,578,546
93$96,115,153$5,179,465$1,086,558$65,487,753
94$105,808,255$5,322,616$1,012,315$71,996,675
95$116,486,569$5,469,296$932,099$79,166,464
96$128,250,476$5,619,568$845,601$87,064,512
97$141,210,592$5,773,495$752,497$95,765,089
98$155,488,816$5,931,140$652,449$105,350,041
99$171,219,473$6,092,563$545,103$115,909,567
100$188,550,587$6,257,826$430,092$127,543,067