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%17.7%
1 years$117,262$116,218$115,199$114,204$113,233$109,696
2 years$58,051$56,969$55,922$54,906$53,920$50,389
3 years$38,316$37,230$36,185$35,179$34,209$30,793
4 years$28,451$27,368$26,333$25,344$24,398$21,124
5 years$22,533$21,457$20,436$19,467$18,547$15,424
6 years$18,589$17,521$16,515$15,568$14,676$11,706
7 years$15,773$14,714$13,724$12,799$11,935$9,119
8 years$13,662$12,613$11,639$10,737$9,902$7,237
9 years$12,021$10,982$10,025$9,145$8,339$5,822
10 years$10,709$9,680$8,740$7,883$7,105$4,733
11 years$9,636$8,617$7,694$6,861$6,110$3,879
12 years$8,743$7,735$6,829$6,018$5,295$3,200
13 years$7,988$6,990$6,101$5,313$4,617$2,653
14 years$7,341$6,354$5,482$4,716$4,048$2,208
15 years$6,781$5,804$4,949$4,206$3,564$1,845
16 years$6,291$5,325$4,487$3,766$3,150$1,545
17 years$5,860$4,904$4,083$3,384$2,793$1,297
18 years$5,476$4,532$3,727$3,049$2,483$1,091
19 years$5,134$4,200$3,412$2,755$2,213$919
20 years$4,826$3,903$3,132$2,496$1,977$776
21 years$4,548$3,635$2,880$2,265$1,769$655
22 years$4,295$3,393$2,655$2,059$1,586$554
23 years$4,065$3,174$2,451$1,875$1,424$468
24 years$3,855$2,974$2,267$1,711$1,280$397
25 years$3,661$2,791$2,100$1,562$1,151$336
26 years$3,483$2,623$1,947$1,428$1,037$285
27 years$3,318$2,468$1,808$1,307$935$241
28 years$3,165$2,326$1,681$1,198$844$205
29 years$3,023$2,194$1,564$1,098$762$174
30 years$2,891$2,072$1,457$1,008$688$147
31 years$2,767$1,959$1,358$926$622$125
32 years$2,651$1,854$1,267$851$563$106
33 years$2,543$1,755$1,183$782$509$90
34 years$2,441$1,664$1,106$720$461$76
35 years$2,346$1,578$1,034$663$418$65
36 years$2,255$1,498$967$610$379$55
37 years$2,170$1,422$905$562$343$47
38 years$2,090$1,352$848$518$311$40
39 years$2,014$1,285$794$478$282$34
40 years$1,941$1,223$744$441$256$29
41 years$1,873$1,164$698$407$232$24
42 years$1,808$1,109$655$375$211$21
43 years$1,746$1,056$614$347$191$18
44 years$1,687$1,007$577$320$173$15
45 years$1,631$960$541$295$158$13
46 years$1,578$916$509$273$143$11
47 years$1,527$874$478$252$130$9
48 years$1,478$835$449$233$118$8
49 years$1,431$797$422$215$107$7
50 years$1,386$761$397$199$97$6

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 $6,298 every year, while hoping to spend $25,799 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: 50/26/24 Blend
46$1,420,000$1,420,000$1,420,000$1,420,000
47$1,571,336$1,496,076$1,474,066$1,639,007
48$1,704,163$1,541,934$1,495,998$1,732,578
49$1,849,673$1,589,174$1,517,799$1,831,108
50$2,009,133$1,637,837$1,539,439$1,937,675
51$2,183,938$1,687,965$1,560,883$2,053,049
52$2,375,624$1,739,600$1,582,097$2,178,081
53$2,585,883$1,792,786$1,603,043$2,313,706
54$2,816,579$1,847,568$1,623,681$2,460,952
55$3,069,765$1,903,993$1,643,969$2,620,954
56$3,347,701$1,962,109$1,663,862$2,794,958
57$3,652,878$2,021,964$1,683,313$2,984,340
58$3,988,041$2,083,609$1,702,273$3,190,613
59$4,356,210$2,147,096$1,720,689$3,415,442
60$4,760,717$2,212,477$1,738,505$3,660,664
61$5,205,230$2,279,807$1,755,664$3,928,300
62$5,693,788$2,349,143$1,772,104$4,220,577
63$6,230,844$2,420,541$1,787,760$4,539,947
64$6,821,304$2,494,061$1,802,563$4,889,112
65$7,470,570$2,569,763$1,816,442$5,271,049
66$8,184,596$2,647,709$1,829,320$5,689,037
67$8,969,941$2,727,964$1,841,120$6,146,686
68$9,833,834$2,810,592$1,851,755$6,647,976
69$10,784,235$2,895,662$1,861,140$7,197,293
70$11,829,919$2,983,241$1,869,180$7,799,464
71$12,980,552$3,073,401$1,875,778$8,459,813
72$14,246,785$3,166,214$1,880,834$9,184,201
73$15,640,353$3,261,755$1,884,238$9,979,091
74$17,174,188$3,360,100$1,885,879$10,851,598
75$18,862,538$3,461,327$1,885,638$11,809,567
76$20,721,101$3,565,517$1,883,392$12,861,638
77$22,767,178$3,672,751$1,879,009$14,017,334
78$25,019,829$3,783,115$1,872,355$15,287,147
79$27,500,057$3,896,693$1,863,285$16,682,638
80$30,231,008$4,013,576$1,851,649$18,216,547
81$33,238,182$4,133,853$1,837,291$19,902,910
82$36,549,682$4,257,617$1,820,046$21,757,198
83$40,196,474$4,384,964$1,799,741$23,796,454
84$44,212,677$4,515,991$1,776,196$26,039,462
85$48,635,893$4,650,797$1,749,221$28,506,920
86$53,507,552$4,789,485$1,718,618$31,221,634
87$58,873,311$4,932,158$1,684,181$34,208,740
88$64,783,480$5,078,924$1,645,691$37,495,933
89$71,293,495$5,229,892$1,602,922$41,113,733
90$78,464,448$5,385,173$1,555,637$45,095,772
91$86,363,658$5,544,883$1,503,587$49,479,113
92$95,065,306$5,709,137$1,446,512$54,304,599
93$104,651,137$5,878,055$1,384,140$59,617,235
94$115,211,232$6,051,758$1,316,188$65,466,619
95$126,844,856$6,230,372$1,242,358$71,907,406
96$139,661,394$6,414,024$1,162,340$78,999,827
97$153,781,388$6,602,843$1,075,810$86,810,254
98$169,337,669$6,796,962$982,430$95,411,831
99$186,476,614$6,996,515$881,844$104,885,159
100$205,359,527$7,201,642$773,683$115,319,064