Can I retire at age 47 with 1,500,000?

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 $1,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$123,869$122,765$121,689$120,638$119,612$116,202
2 years$61,321$60,179$59,072$57,999$56,958$53,550
3 years$40,475$39,328$38,224$37,161$36,137$32,836
4 years$30,053$28,910$27,817$26,772$25,773$22,605
5 years$23,802$22,666$21,587$20,564$19,592$16,566
6 years$19,636$18,508$17,446$16,445$15,503$12,621
7 years$16,662$15,543$14,497$13,520$12,608$9,871
8 years$14,432$13,323$12,295$11,342$10,459$7,866
9 years$12,698$11,600$10,590$9,661$8,808$6,355
10 years$11,312$10,225$9,232$8,328$7,505$5,189
11 years$10,179$9,103$8,128$7,247$6,455$4,272
12 years$9,236$8,170$7,213$6,357$5,593$3,540
13 years$8,438$7,384$6,445$5,612$4,878$2,949
14 years$7,754$6,711$5,791$4,982$4,276$2,467
15 years$7,163$6,131$5,228$4,443$3,765$2,071
16 years$6,646$5,625$4,740$3,978$3,327$1,744
17 years$6,190$5,181$4,313$3,574$2,950$1,471
18 years$5,785$4,787$3,937$3,221$2,623$1,244
19 years$5,423$4,437$3,605$2,911$2,338$1,054
20 years$5,098$4,123$3,308$2,636$2,088$894
21 years$4,804$3,840$3,043$2,393$1,869$759
22 years$4,537$3,585$2,804$2,175$1,675$645
23 years$4,294$3,353$2,589$1,981$1,504$549
24 years$4,072$3,141$2,395$1,807$1,352$467
25 years$3,867$2,948$2,218$1,650$1,216$398
26 years$3,679$2,770$2,057$1,509$1,096$339
27 years$3,505$2,607$1,910$1,381$988$289
28 years$3,343$2,457$1,776$1,265$891$247
29 years$3,193$2,318$1,652$1,160$805$210
30 years$3,053$2,189$1,539$1,065$727$179
31 years$2,923$2,069$1,435$978$657$153
32 years$2,801$1,958$1,339$899$595$131
33 years$2,686$1,854$1,250$827$538$112
34 years$2,579$1,757$1,168$761$487$95
35 years$2,478$1,667$1,092$700$441$81
36 years$2,382$1,582$1,022$645$400$70
37 years$2,292$1,503$956$594$362$59
38 years$2,207$1,428$895$548$329$51
39 years$2,127$1,358$839$505$298$43
40 years$2,051$1,292$786$466$270$37
41 years$1,978$1,230$737$430$245$32
42 years$1,910$1,171$692$397$222$27
43 years$1,844$1,116$649$366$202$23
44 years$1,782$1,064$609$338$183$20
45 years$1,723$1,014$572$312$166$17
46 years$1,666$968$537$288$151$14
47 years$1,613$923$505$266$137$12
48 years$1,561$882$474$246$125$11
49 years$1,512$842$446$227$113$9
50 years$1,465$804$419$210$103$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,500,000, adding $3,699 every year, while hoping to spend $23,300 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: 59/29/12 Blend
46$1,500,000$1,500,000$1,500,000$1,500,000
47$1,656,816$1,577,316$1,554,066$1,749,499
48$1,801,020$1,629,813$1,581,336$1,864,853
49$1,959,152$1,684,102$1,608,739$1,987,643
50$2,132,608$1,740,245$1,636,254$2,120,975
51$2,322,925$1,798,309$1,663,860$2,265,869
52$2,531,798$1,858,361$1,691,534$2,423,441
53$2,761,092$1,920,471$1,719,251$2,594,925
54$3,012,862$1,984,713$1,746,984$2,781,675
55$3,289,372$2,051,162$1,774,706$2,985,182
56$3,593,116$2,119,896$1,802,387$3,207,089
57$3,926,841$2,190,998$1,829,994$3,449,202
58$4,293,573$2,264,552$1,857,493$3,713,512
59$4,696,647$2,340,644$1,884,849$4,002,207
60$5,139,737$2,419,367$1,912,022$4,317,699
61$5,626,888$2,500,814$1,938,973$4,662,643
62$6,162,560$2,585,084$1,965,658$5,039,963
63$6,751,665$2,672,277$1,992,032$5,452,878
64$7,399,616$2,762,499$2,018,046$5,904,933
65$8,112,374$2,855,859$2,043,648$6,400,031
66$8,896,511$2,952,471$2,068,785$6,942,473
67$9,759,266$3,052,452$2,093,399$7,536,993
68$10,708,613$3,155,925$2,117,431$8,188,808
69$11,753,342$3,263,015$2,140,815$8,903,662
70$12,903,135$3,373,856$2,163,484$9,687,882
71$14,168,662$3,488,582$2,185,369$10,548,439
72$15,561,680$3,607,336$2,206,392$11,493,009
73$17,095,141$3,730,266$2,226,476$12,530,051
74$18,783,319$3,857,523$2,245,537$13,668,881
75$20,641,943$3,989,267$2,263,488$14,919,762
76$22,688,342$4,125,662$2,280,236$16,294,001
77$24,941,613$4,266,879$2,295,684$17,804,055
78$27,422,798$4,413,097$2,309,730$19,463,645
79$30,155,084$4,564,499$2,322,266$21,287,890
80$33,164,021$4,721,277$2,333,180$23,293,448
81$36,477,762$4,883,631$2,342,353$25,498,669
82$40,127,331$5,051,767$2,349,659$27,923,771
83$44,146,916$5,225,900$2,354,969$30,591,032
84$48,574,185$5,406,253$2,358,145$33,524,994
85$53,450,651$5,593,059$2,359,042$36,752,701
86$58,822,057$5,786,558$2,357,509$40,303,948
87$64,738,808$5,987,000$2,353,387$44,211,566
88$71,256,450$6,194,647$2,346,509$48,511,727
89$78,436,191$6,409,768$2,336,700$53,244,289
90$86,345,481$6,632,645$2,323,778$58,453,168
91$95,058,646$6,863,570$2,307,550$64,186,756
92$104,657,590$7,102,848$2,287,816$70,498,373
93$115,232,570$7,350,793$2,264,363$77,446,771
94$126,883,044$7,607,734$2,236,972$85,096,691
95$139,718,615$7,874,013$2,205,411$93,519,468
96$153,860,059$8,149,986$2,169,438$102,793,708
97$169,440,471$8,436,020$2,128,799$113,006,026
98$186,606,514$8,732,501$2,083,229$124,251,865
99$205,519,813$9,039,827$2,032,451$136,636,396
100$226,358,470$9,358,415$1,976,175$150,275,510