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%19.4%
1 years$117,262$116,218$115,199$114,204$113,233$108,955
2 years$58,051$56,969$55,922$54,906$53,920$49,661
3 years$38,316$37,230$36,185$35,179$34,209$30,101
4 years$28,451$27,368$26,333$25,344$24,398$20,473
5 years$22,533$21,457$20,436$19,467$18,547$14,815
6 years$18,589$17,521$16,515$15,568$14,676$11,139
7 years$15,773$14,714$13,724$12,799$11,935$8,594
8 years$13,662$12,613$11,639$10,737$9,902$6,751
9 years$12,021$10,982$10,025$9,145$8,339$5,375
10 years$10,709$9,680$8,740$7,883$7,105$4,323
11 years$9,636$8,617$7,694$6,861$6,110$3,504
12 years$8,743$7,735$6,829$6,018$5,295$2,858
13 years$7,988$6,990$6,101$5,313$4,617$2,342
14 years$7,341$6,354$5,482$4,716$4,048$1,927
15 years$6,781$5,804$4,949$4,206$3,564$1,590
16 years$6,291$5,325$4,487$3,766$3,150$1,316
17 years$5,860$4,904$4,083$3,384$2,793$1,091
18 years$5,476$4,532$3,727$3,049$2,483$906
19 years$5,134$4,200$3,412$2,755$2,213$754
20 years$4,826$3,903$3,132$2,496$1,977$628
21 years$4,548$3,635$2,880$2,265$1,769$523
22 years$4,295$3,393$2,655$2,059$1,586$436
23 years$4,065$3,174$2,451$1,875$1,424$364
24 years$3,855$2,974$2,267$1,711$1,280$304
25 years$3,661$2,791$2,100$1,562$1,151$254
26 years$3,483$2,623$1,947$1,428$1,037$212
27 years$3,318$2,468$1,808$1,307$935$178
28 years$3,165$2,326$1,681$1,198$844$149
29 years$3,023$2,194$1,564$1,098$762$124
30 years$2,891$2,072$1,457$1,008$688$104
31 years$2,767$1,959$1,358$926$622$87
32 years$2,651$1,854$1,267$851$563$73
33 years$2,543$1,755$1,183$782$509$61
34 years$2,441$1,664$1,106$720$461$51
35 years$2,346$1,578$1,034$663$418$43
36 years$2,255$1,498$967$610$379$36
37 years$2,170$1,422$905$562$343$30
38 years$2,090$1,352$848$518$311$25
39 years$2,014$1,285$794$478$282$21
40 years$1,941$1,223$744$441$256$18
41 years$1,873$1,164$698$407$232$15
42 years$1,808$1,109$655$375$211$12
43 years$1,746$1,056$614$347$191$10
44 years$1,687$1,007$577$320$173$9
45 years$1,631$960$541$295$158$7
46 years$1,578$916$509$273$143$6
47 years$1,527$874$478$252$130$5
48 years$1,478$835$449$233$118$4
49 years$1,431$797$422$215$107$4
50 years$1,386$761$397$199$97$3

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 $2,086 every year, while hoping to spend $43,291 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: 50/24/26 Blend
46$1,420,000$1,420,000$1,420,000$1,420,000
47$1,566,992$1,491,732$1,469,722$1,633,746
48$1,680,764$1,518,765$1,472,896$1,707,539
49$1,804,689$1,545,673$1,474,726$1,783,192
50$1,939,759$1,572,402$1,475,120$1,864,557
51$2,087,061$1,598,897$1,473,984$1,952,196
52$2,247,797$1,625,098$1,471,218$2,046,728
53$2,423,284$1,650,940$1,466,716$2,148,836
54$2,614,977$1,676,354$1,460,369$2,259,272
55$2,824,475$1,701,266$1,452,062$2,378,870
56$3,053,540$1,725,595$1,441,673$2,508,547
57$3,304,109$1,749,258$1,429,078$2,649,316
58$3,578,318$1,772,161$1,414,142$2,802,296
59$3,878,518$1,794,209$1,396,727$2,968,718
60$4,207,298$1,815,296$1,376,688$3,149,946
61$4,567,507$1,835,311$1,353,873$3,347,480
62$4,962,287$1,854,135$1,328,122$3,562,979
63$5,395,095$1,871,642$1,299,268$3,798,270
64$5,869,739$1,887,696$1,267,137$4,055,372
65$6,390,413$1,902,154$1,231,547$4,336,510
66$6,961,737$1,914,862$1,192,307$4,644,141
67$7,588,801$1,925,658$1,149,216$4,980,973
68$8,277,210$1,934,366$1,102,066$5,349,996
69$9,033,139$1,940,803$1,050,638$5,754,508
70$9,863,390$1,944,773$994,705$6,198,144
71$10,775,456$1,946,067$934,028$6,684,919
72$11,777,591$1,944,463$868,357$7,219,257
73$12,878,890$1,939,726$797,431$7,806,040
74$14,089,371$1,931,607$720,979$8,450,652
75$15,420,071$1,919,840$638,716$9,159,033
76$16,883,150$1,904,145$550,346$9,937,732
77$18,492,006$1,884,222$455,557$10,793,972
78$20,261,399$1,859,757$354,026$11,735,721
79$22,207,591$1,830,415$245,415$12,771,763
80$24,348,499$1,795,839$129,371$13,911,788
81$26,703,866$1,755,655$5,524$15,166,479
82$29,295,443$1,709,464$0$16,547,619
83$32,147,195$1,656,845$0$18,103,332
84$35,285,530$1,597,352$0$19,816,729
85$38,739,544$1,530,512$0$21,702,189
86$42,541,297$1,455,826$0$23,777,250
87$46,726,113$1,372,766$0$26,061,243
88$51,332,917$1,280,772$0$28,575,472
89$56,404,598$1,179,253$0$31,343,421
90$61,988,417$1,067,586$0$34,390,970
91$68,136,446$945,109$0$37,746,647
92$74,906,070$811,125$0$41,441,892
93$82,360,515$664,896$0$45,511,357
94$90,569,456$505,644$0$49,993,234
95$99,609,665$332,546$0$54,929,619
96$109,565,744$144,734$0$60,366,905
97$120,530,913$0$0$66,356,225
98$132,607,897$0$0$72,969,442
99$145,909,892$0$0$80,295,770
100$160,561,635$0$0$88,365,712