Can I retire at age 47 with 1,480,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$122,217$121,128$120,066$119,030$118,017$114,469
2 years$60,503$59,377$58,285$57,226$56,199$52,654
3 years$39,935$38,803$37,714$36,665$35,655$32,224
4 years$29,653$28,525$27,446$26,415$25,429$22,139
5 years$23,485$22,364$21,299$20,289$19,331$16,191
6 years$19,375$18,262$17,213$16,226$15,296$12,308
7 years$16,440$15,336$14,304$13,340$12,440$9,604
8 years$14,239$13,146$12,131$11,191$10,320$7,635
9 years$12,529$11,446$10,448$9,532$8,691$6,154
10 years$11,162$10,089$9,109$8,217$7,405$5,012
11 years$10,044$8,982$8,020$7,151$6,369$4,116
12 years$9,112$8,061$7,117$6,272$5,519$3,402
13 years$8,325$7,285$6,359$5,537$4,813$2,826
14 years$7,651$6,622$5,713$4,916$4,219$2,358
15 years$7,067$6,049$5,158$4,384$3,714$1,974
16 years$6,557$5,550$4,677$3,925$3,283$1,657
17 years$6,107$5,111$4,256$3,527$2,911$1,394
18 years$5,708$4,723$3,885$3,178$2,588$1,175
19 years$5,351$4,377$3,556$2,872$2,307$992
20 years$5,030$4,068$3,264$2,601$2,061$839
21 years$4,740$3,789$3,002$2,361$1,844$710
22 years$4,477$3,537$2,767$2,146$1,653$602
23 years$4,237$3,308$2,555$1,955$1,484$510
24 years$4,017$3,099$2,363$1,783$1,334$433
25 years$3,816$2,909$2,188$1,628$1,200$368
26 years$3,630$2,734$2,030$1,489$1,081$312
27 years$3,458$2,573$1,885$1,363$975$265
28 years$3,299$2,424$1,752$1,248$879$226
29 years$3,151$2,287$1,630$1,145$794$192
30 years$3,013$2,160$1,519$1,051$717$163
31 years$2,884$2,042$1,416$965$649$139
32 years$2,763$1,932$1,321$887$587$118
33 years$2,650$1,829$1,233$816$531$101
34 years$2,544$1,734$1,152$750$481$86
35 years$2,445$1,645$1,077$691$435$73
36 years$2,351$1,561$1,008$636$395$62
37 years$2,262$1,483$943$586$358$53
38 years$2,178$1,409$883$540$324$45
39 years$2,099$1,340$828$498$294$38
40 years$2,023$1,275$776$459$267$33
41 years$1,952$1,213$727$424$242$28
42 years$1,884$1,156$682$391$220$24
43 years$1,820$1,101$640$361$199$20
44 years$1,758$1,050$601$333$181$17
45 years$1,700$1,001$564$308$164$15
46 years$1,644$955$530$284$149$12
47 years$1,591$911$498$263$135$11
48 years$1,540$870$468$243$123$9
49 years$1,492$831$440$224$112$8
50 years$1,445$793$414$207$101$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,480,000, adding $6,968 every year, while hoping to spend $29,043 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: 29/47/24 Blend
46$1,480,000$1,480,000$1,480,000$1,480,000
47$1,638,147$1,559,707$1,536,767$1,673,246
48$1,774,337$1,605,232$1,557,348$1,746,629
49$1,923,444$1,652,013$1,577,644$1,822,438
50$2,086,757$1,700,083$1,597,616$1,903,344
51$2,265,691$1,749,472$1,617,221$1,989,804
52$2,461,809$1,800,213$1,636,415$2,082,322
53$2,676,828$1,852,339$1,655,150$2,181,451
54$2,912,643$1,905,882$1,673,376$2,287,801
55$3,171,339$1,960,876$1,691,040$2,402,041
56$3,455,212$2,017,355$1,708,087$2,524,909
57$3,766,792$2,075,355$1,724,456$2,657,215
58$4,108,867$2,134,909$1,740,088$2,799,853
59$4,484,507$2,196,054$1,754,916$2,953,805
60$4,897,092$2,258,827$1,768,871$3,120,152
61$5,350,349$2,323,263$1,781,882$3,300,085
62$5,848,381$2,389,399$1,793,871$3,494,916
63$6,395,710$2,457,274$1,804,760$3,706,088
64$6,997,316$2,526,924$1,814,463$3,935,190
65$7,658,688$2,598,389$1,822,893$4,183,973
66$8,385,870$2,671,706$1,829,956$4,454,365
67$9,185,523$2,746,914$1,835,554$4,748,490
68$10,064,987$2,824,053$1,839,585$5,068,687
69$11,032,346$2,903,162$1,841,942$5,417,533
70$12,096,508$2,984,280$1,842,510$5,797,866
71$13,267,289$3,067,447$1,841,171$6,212,812
72$14,555,503$3,152,703$1,837,801$6,665,818
73$15,973,067$3,240,087$1,832,270$7,160,678
74$17,533,108$3,329,639$1,824,439$7,701,574
75$19,250,093$3,421,400$1,814,166$8,293,113
76$21,139,961$3,515,407$1,801,299$8,940,371
77$23,220,277$3,611,702$1,785,682$9,648,941
78$25,510,392$3,710,322$1,767,150$10,424,987
79$28,031,631$3,811,306$1,745,528$11,275,299
80$30,807,490$3,914,693$1,720,636$12,207,361
81$33,863,860$4,020,520$1,692,284$13,229,419
82$37,229,272$4,128,823$1,660,273$14,350,558
83$40,935,162$4,239,639$1,624,396$15,580,793
84$45,016,170$4,353,003$1,584,435$16,931,156
85$49,510,468$4,468,949$1,540,162$18,413,808
86$54,460,118$4,587,510$1,491,340$20,042,147
87$59,911,469$4,708,717$1,437,719$21,830,940
88$65,915,595$4,832,600$1,379,039$23,796,460
89$72,528,776$4,959,189$1,315,027$25,956,638
90$79,813,030$5,088,508$1,245,399$28,331,239
91$87,836,698$5,220,583$1,169,858$30,942,039
92$96,675,085$5,355,436$1,088,093$33,813,041
93$106,411,178$5,493,086$999,778$36,970,693
94$117,136,422$5,633,552$904,575$40,444,144
95$128,951,587$5,776,846$802,129$44,265,518
96$141,967,718$5,922,980$692,068$48,470,216
97$156,307,180$6,071,961$574,008$53,097,251
98$172,104,819$6,223,793$447,543$58,189,620
99$189,509,227$6,378,476$312,253$63,794,705
100$208,684,151$6,536,004$167,696$69,964,724