Can I retire at age 47 with 1,420,000?

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 $1,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$117,262$116,218$115,199$114,204$113,233$111,037
2 years$58,051$56,969$55,922$54,906$53,920$51,717
3 years$38,316$37,230$36,185$35,179$34,209$32,068
4 years$28,451$27,368$26,333$25,344$24,398$22,334
5 years$22,533$21,457$20,436$19,467$18,547$16,567
6 years$18,589$17,521$16,515$15,568$14,676$12,781
7 years$15,773$14,714$13,724$12,799$11,935$10,127
8 years$13,662$12,613$11,639$10,737$9,902$8,179
9 years$12,021$10,982$10,025$9,145$8,339$6,700
10 years$10,709$9,680$8,740$7,883$7,105$5,550
11 years$9,636$8,617$7,694$6,861$6,110$4,636
12 years$8,743$7,735$6,829$6,018$5,295$3,900
13 years$7,988$6,990$6,101$5,313$4,617$3,299
14 years$7,341$6,354$5,482$4,716$4,048$2,804
15 years$6,781$5,804$4,949$4,206$3,564$2,392
16 years$6,291$5,325$4,487$3,766$3,150$2,047
17 years$5,860$4,904$4,083$3,384$2,793$1,756
18 years$5,476$4,532$3,727$3,049$2,483$1,510
19 years$5,134$4,200$3,412$2,755$2,213$1,301
20 years$4,826$3,903$3,132$2,496$1,977$1,123
21 years$4,548$3,635$2,880$2,265$1,769$971
22 years$4,295$3,393$2,655$2,059$1,586$840
23 years$4,065$3,174$2,451$1,875$1,424$727
24 years$3,855$2,974$2,267$1,711$1,280$631
25 years$3,661$2,791$2,100$1,562$1,151$547
26 years$3,483$2,623$1,947$1,428$1,037$475
27 years$3,318$2,468$1,808$1,307$935$412
28 years$3,165$2,326$1,681$1,198$844$358
29 years$3,023$2,194$1,564$1,098$762$312
30 years$2,891$2,072$1,457$1,008$688$271
31 years$2,767$1,959$1,358$926$622$236
32 years$2,651$1,854$1,267$851$563$205
33 years$2,543$1,755$1,183$782$509$179
34 years$2,441$1,664$1,106$720$461$156
35 years$2,346$1,578$1,034$663$418$135
36 years$2,255$1,498$967$610$379$118
37 years$2,170$1,422$905$562$343$103
38 years$2,090$1,352$848$518$311$89
39 years$2,014$1,285$794$478$282$78
40 years$1,941$1,223$744$441$256$68
41 years$1,873$1,164$698$407$232$59
42 years$1,808$1,109$655$375$211$52
43 years$1,746$1,056$614$347$191$45
44 years$1,687$1,007$577$320$173$39
45 years$1,631$960$541$295$158$34
46 years$1,578$916$509$273$143$30
47 years$1,527$874$478$252$130$26
48 years$1,478$835$449$233$118$23
49 years$1,431$797$422$215$107$20
50 years$1,386$761$397$199$97$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,420,000, adding $6,928 every year, while hoping to spend $40,916 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: 56/28/16 Blend
46$1,420,000$1,420,000$1,420,000$1,420,000
47$1,571,986$1,496,726$1,474,716$1,653,037
48$1,688,795$1,526,532$1,480,585$1,738,709
49$1,816,146$1,556,426$1,485,279$1,826,961
50$1,955,073$1,586,371$1,488,716$1,922,167
51$2,106,711$1,616,324$1,490,808$2,025,001
52$2,272,311$1,646,239$1,491,466$2,136,206
53$2,453,250$1,676,068$1,490,593$2,256,603
54$2,651,043$1,705,757$1,488,090$2,387,093
55$2,867,360$1,735,249$1,483,851$2,528,674
56$3,104,037$1,764,483$1,477,767$2,682,442
57$3,363,097$1,793,391$1,469,721$2,849,608
58$3,646,769$1,821,903$1,459,592$3,031,505
59$3,957,506$1,849,943$1,447,254$3,229,605
60$4,298,008$1,877,427$1,432,574$3,445,528
61$4,671,252$1,904,268$1,415,413$3,681,062
62$5,080,515$1,930,372$1,395,624$3,938,178
63$5,529,406$1,955,639$1,373,056$4,219,048
64$6,021,900$1,979,960$1,347,548$4,526,068
65$6,562,376$2,003,220$1,318,933$4,861,878
66$7,155,657$2,025,296$1,287,036$5,229,391
67$7,807,056$2,046,058$1,251,674$5,631,815
68$8,522,426$2,065,365$1,212,655$6,072,691
69$9,308,213$2,083,068$1,169,779$6,555,921
70$10,171,521$2,099,008$1,122,837$7,085,805
71$11,120,173$2,113,016$1,071,608$7,667,087
72$12,162,789$2,124,913$1,015,866$8,304,996
73$13,308,865$2,134,505$955,369$9,005,296
74$14,568,863$2,141,590$889,867$9,774,343
75$15,954,310$2,145,950$819,100$10,619,143
76$17,477,904$2,147,356$742,795$11,547,419
77$19,153,636$2,145,562$660,665$12,567,689
78$20,996,923$2,140,310$572,412$13,689,338
79$23,024,747$2,131,324$477,726$14,922,717
80$25,255,823$2,118,310$376,282$16,279,235
81$27,710,769$2,100,960$267,739$17,771,468
82$30,412,303$2,078,942$151,744$19,413,282
83$33,385,457$2,051,910$27,927$21,219,961
84$36,657,813$2,019,493$0$23,208,353
85$40,259,761$1,981,299$0$25,414,822
86$44,224,787$1,936,913$0$27,848,297
87$48,589,789$1,885,896$0$30,526,645
88$53,395,426$1,827,783$0$33,474,821
89$58,686,495$1,762,080$0$36,720,325
90$64,512,363$1,688,267$0$40,293,468
91$70,927,425$1,605,793$0$44,227,657
92$77,991,619$1,514,074$0$48,559,708
93$85,770,993$1,412,492$0$53,330,201
94$94,338,326$1,300,397$0$58,583,855
95$103,773,817$1,177,097$0$64,369,960
96$114,165,836$1,041,865$0$70,742,837
97$125,611,765$893,930$0$77,762,356
98$138,218,910$732,477$0$85,494,496
99$152,105,518$556,649$0$94,011,979
100$167,401,892$365,535$0$103,394,949