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%19.8%
1 years$109,004$108,033$107,086$106,161$105,259$101,122
2 years$53,963$52,958$51,984$51,039$50,123$46,007
3 years$35,618$34,608$33,637$32,701$31,800$27,833
4 years$26,447$25,441$24,479$23,559$22,680$18,892
5 years$20,946$19,946$18,997$18,096$17,241$13,642
6 years$17,280$16,287$15,352$14,471$13,642$10,235
7 years$14,662$13,678$12,758$11,898$11,095$7,878
8 years$12,700$11,725$10,820$9,981$9,204$6,174
9 years$11,175$10,208$9,319$8,501$7,751$4,904
10 years$9,955$8,998$8,124$7,328$6,604$3,934
11 years$8,958$8,011$7,153$6,378$5,680$3,181
12 years$8,127$7,190$6,348$5,594$4,922$2,587
13 years$7,425$6,498$5,671$4,939$4,292$2,114
14 years$6,824$5,906$5,096$4,384$3,763$1,735
15 years$6,303$5,395$4,601$3,910$3,313$1,427
16 years$5,848$4,950$4,171$3,501$2,928$1,178
17 years$5,447$4,559$3,796$3,146$2,596$974
18 years$5,091$4,213$3,465$2,835$2,308$806
19 years$4,772$3,904$3,172$2,561$2,057$668
20 years$4,486$3,628$2,911$2,320$1,838$555
21 years$4,228$3,379$2,678$2,105$1,645$461
22 years$3,993$3,154$2,468$1,914$1,474$383
23 years$3,779$2,950$2,279$1,743$1,323$319
24 years$3,583$2,764$2,107$1,590$1,189$266
25 years$3,403$2,594$1,952$1,452$1,070$221
26 years$3,237$2,438$1,810$1,328$964$184
27 years$3,084$2,294$1,681$1,215$869$154
28 years$2,942$2,162$1,563$1,114$784$128
29 years$2,810$2,040$1,454$1,021$708$107
30 years$2,687$1,926$1,355$937$640$89
31 years$2,572$1,821$1,263$861$579$74
32 years$2,465$1,723$1,178$791$523$62
33 years$2,364$1,632$1,100$727$474$52
34 years$2,269$1,546$1,028$669$429$43
35 years$2,180$1,467$961$616$388$36
36 years$2,096$1,392$899$567$352$30
37 years$2,017$1,322$841$523$319$25
38 years$1,943$1,257$788$482$289$21
39 years$1,872$1,195$738$444$262$17
40 years$1,805$1,137$692$410$238$15
41 years$1,741$1,082$649$378$216$12
42 years$1,681$1,031$609$349$196$10
43 years$1,623$982$571$322$178$8
44 years$1,568$936$536$297$161$7
45 years$1,516$893$503$275$146$6
46 years$1,466$852$473$254$133$5
47 years$1,419$813$444$234$121$4
48 years$1,374$776$417$217$110$3
49 years$1,330$741$392$200$100$3
50 years$1,289$708$369$185$90$2

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 $5,623 every year, while hoping to spend $31,447 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: 68/27/5 Blend
46$1,320,000$1,320,000$1,320,000$1,320,000
47$1,460,440$1,390,480$1,370,020$1,558,528
48$1,575,946$1,425,154$1,382,456$1,658,855
49$1,702,179$1,460,474$1,394,255$1,764,151
50$1,840,201$1,496,436$1,405,362$1,878,430
51$1,991,179$1,533,040$1,415,720$2,002,564
52$2,156,401$1,570,280$1,425,268$2,137,513
53$2,337,282$1,608,152$1,433,943$2,284,334
54$2,535,382$1,646,649$1,441,677$2,444,189
55$2,752,419$1,685,762$1,448,401$2,618,360
56$2,990,284$1,725,483$1,454,041$2,808,259
57$3,251,060$1,765,799$1,458,519$3,015,438
58$3,537,043$1,806,698$1,461,754$3,241,610
59$3,850,758$1,848,163$1,463,659$3,488,659
60$4,194,990$1,890,177$1,464,147$3,758,663
61$4,572,804$1,932,722$1,463,121$4,053,908
62$4,987,578$1,975,773$1,460,483$4,376,913
63$5,443,032$2,019,307$1,456,131$4,730,454
64$5,943,264$2,063,295$1,449,954$5,117,589
65$6,492,789$2,107,708$1,441,839$5,541,686
66$7,096,579$2,152,512$1,431,666$6,006,457
67$7,760,114$2,197,669$1,419,311$6,515,990
68$8,489,429$2,243,139$1,404,642$7,074,791
69$9,291,175$2,288,877$1,387,521$7,687,822
70$10,172,678$2,334,834$1,367,806$8,360,553
71$11,142,008$2,380,959$1,345,345$9,099,009
72$12,208,060$2,427,192$1,319,981$9,909,830
73$13,380,630$2,473,472$1,291,548$10,800,333
74$14,670,513$2,519,732$1,259,874$11,778,578
75$16,089,604$2,565,897$1,224,778$12,853,449
76$17,651,008$2,611,890$1,186,072$14,034,734
77$19,369,162$2,657,625$1,143,557$15,333,218
78$21,259,978$2,703,009$1,097,028$16,760,788
79$23,340,985$2,747,946$1,046,267$18,330,541
80$25,631,497$2,792,327$991,049$20,056,908
81$28,152,799$2,836,040$931,138$21,955,795
82$30,928,340$2,878,961$866,287$24,044,727
83$33,983,961$2,920,961$796,238$26,343,018
84$37,348,134$2,961,898$720,721$28,871,951
85$41,052,235$3,001,621$639,456$31,654,978
86$45,130,833$3,039,971$552,148$34,717,946
87$49,622,023$3,076,775$458,490$38,089,337
88$54,567,782$3,111,849$358,162$41,800,538
89$60,014,364$3,144,998$250,829$45,886,138
90$66,012,738$3,176,012$136,141$50,384,254
91$72,619,069$3,204,668$13,733$55,336,892
92$79,895,246$3,230,729$0$60,790,343
93$87,909,468$3,253,942$0$66,801,856
94$96,736,886$3,274,037$0$73,422,600
95$106,460,310$3,290,727$0$80,713,815
96$117,170,996$3,303,706$0$88,743,798
97$128,969,501$3,312,652$0$97,587,812
98$141,966,637$3,317,218$0$107,328,796
99$156,284,511$3,317,039$0$118,058,149
100$172,057,683$3,311,725$0$129,876,595