Can I retire at age 47 with 1,340,000?

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$110,656$109,670$108,709$107,770$106,853$104,911
2 years$54,780$53,760$52,771$51,813$50,883$48,932
3 years$36,157$35,133$34,146$33,197$32,282$30,385
4 years$26,848$25,826$24,850$23,916$23,024$21,194
5 years$21,263$20,248$19,285$18,370$17,502$15,746
6 years$17,542$16,534$15,585$14,691$13,849$12,168
7 years$14,885$13,885$12,951$12,078$11,263$9,657
8 years$12,893$11,902$10,983$10,132$9,344$7,813
9 years$11,344$10,363$9,460$8,630$7,869$6,412
10 years$10,106$9,135$8,248$7,439$6,705$5,321
11 years$9,093$8,132$7,261$6,474$5,766$4,453
12 years$8,250$7,299$6,444$5,679$4,997$3,754
13 years$7,538$6,596$5,757$5,014$4,357$3,182
14 years$6,927$5,996$5,173$4,451$3,820$2,709
15 years$6,399$5,477$4,670$3,969$3,363$2,316
16 years$5,937$5,025$4,234$3,554$2,972$1,986
17 years$5,529$4,628$3,853$3,193$2,635$1,708
18 years$5,168$4,276$3,517$2,878$2,343$1,472
19 years$4,845$3,963$3,220$2,600$2,089$1,271
20 years$4,554$3,683$2,955$2,355$1,866$1,099
21 years$4,292$3,430$2,718$2,137$1,670$952
22 years$4,053$3,202$2,505$1,943$1,496$826
23 years$3,836$2,995$2,313$1,770$1,343$717
24 years$3,637$2,806$2,139$1,614$1,207$623
25 years$3,455$2,633$1,981$1,474$1,086$542
26 years$3,286$2,475$1,838$1,348$979$471
27 years$3,131$2,329$1,706$1,234$882$411
28 years$2,987$2,195$1,586$1,130$796$358
29 years$2,853$2,071$1,476$1,037$719$312
30 years$2,728$1,955$1,375$951$650$272
31 years$2,611$1,849$1,282$874$587$237
32 years$2,502$1,749$1,196$803$531$207
33 years$2,400$1,656$1,117$738$481$180
34 years$2,304$1,570$1,043$679$435$157
35 years$2,213$1,489$976$625$394$137
36 years$2,128$1,413$913$576$357$120
37 years$2,048$1,342$854$531$324$105
38 years$1,972$1,276$800$489$294$92
39 years$1,900$1,213$749$451$266$80
40 years$1,832$1,154$702$416$241$70
41 years$1,767$1,099$659$384$219$61
42 years$1,706$1,046$618$354$199$53
43 years$1,648$997$580$327$180$47
44 years$1,592$950$544$302$164$41
45 years$1,539$906$511$279$149$36
46 years$1,489$864$480$258$135$31
47 years$1,441$825$451$238$123$27
48 years$1,394$788$424$220$111$24
49 years$1,350$752$398$203$101$21
50 years$1,308$718$374$188$92$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,340,000, adding $3,195 every year, while hoping to spend $23,204 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: 53/33/14 Blend
46$1,340,000$1,340,000$1,340,000$1,340,000
47$1,479,976$1,408,956$1,388,186$1,552,742
48$1,606,244$1,453,306$1,410,001$1,647,097
49$1,744,615$1,499,051$1,431,769$1,746,957
50$1,896,297$1,546,236$1,453,465$1,855,081
51$2,062,623$1,594,905$1,475,060$1,972,260
52$2,245,060$1,645,106$1,496,525$2,099,362
53$2,445,226$1,696,886$1,517,828$2,237,344
54$2,664,901$1,750,295$1,538,937$2,387,258
55$2,906,046$1,805,384$1,559,816$2,550,263
56$3,170,821$1,862,206$1,580,429$2,727,633
57$3,461,607$1,920,816$1,600,735$2,920,771
58$3,781,024$1,981,270$1,620,693$3,131,222
59$4,131,962$2,043,626$1,640,260$3,360,687
60$4,517,602$2,107,943$1,659,388$3,611,038
61$4,941,448$2,174,283$1,678,029$3,884,336
62$5,407,363$2,242,710$1,696,130$4,182,852
63$5,919,601$2,313,290$1,713,637$4,509,085
64$6,482,849$2,386,089$1,730,492$4,865,788
65$7,102,270$2,461,179$1,746,634$5,255,993
66$7,783,555$2,538,630$1,762,000$5,683,037
67$8,532,972$2,618,517$1,776,521$6,150,599
68$9,357,427$2,700,917$1,790,127$6,662,728
69$10,264,531$2,785,908$1,802,742$7,223,886
70$11,262,668$2,873,572$1,814,289$7,838,987
71$12,361,076$2,963,992$1,824,683$8,513,443
72$13,569,934$3,057,257$1,833,839$9,253,218
73$14,900,459$3,153,454$1,841,664$10,064,880
74$16,365,009$3,252,676$1,848,063$10,955,665
75$17,977,201$3,355,019$1,852,934$11,933,545
76$19,752,040$3,460,579$1,856,172$13,007,303
77$21,706,060$3,569,459$1,857,665$14,186,613
78$23,857,477$3,681,761$1,857,296$15,482,136
79$26,226,367$3,797,595$1,854,943$16,905,615
80$28,834,850$3,917,071$1,850,477$18,469,991
81$31,707,300$4,040,303$1,843,763$20,189,519
82$34,870,576$4,167,409$1,834,661$22,079,907
83$38,354,274$4,298,511$1,823,021$24,158,462
84$42,191,006$4,433,734$1,808,688$26,444,253
85$46,416,709$4,573,208$1,791,500$28,958,290
86$51,070,985$4,717,066$1,771,286$31,723,724
87$56,197,469$4,865,446$1,747,868$34,766,064
88$61,844,247$5,018,489$1,721,058$38,113,417
89$68,064,308$5,176,343$1,690,661$41,796,753
90$74,916,042$5,339,158$1,656,473$45,850,200
91$82,463,791$5,507,090$1,618,278$50,311,359
92$90,778,460$5,680,300$1,575,852$55,221,667
93$99,938,181$5,858,952$1,528,961$60,626,781
94$110,029,054$6,043,219$1,477,359$66,577,013
95$121,145,956$6,233,276$1,420,790$73,127,801
96$133,393,442$6,429,304$1,358,985$80,340,234
97$146,886,725$6,631,492$1,291,663$88,281,630
98$161,752,768$6,840,033$1,218,531$97,026,166
99$178,131,482$7,055,125$1,139,282$106,655,584
100$196,177,041$7,276,975$1,053,597$117,259,957