Can I retire at age 47 with 1,520,000?

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 $1,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$125,520$124,402$123,311$122,247$121,207$117,186
2 years$62,139$60,981$59,860$58,772$57,718$53,706
3 years$41,014$39,852$38,733$37,656$36,618$32,742
4 years$30,454$29,295$28,188$27,129$26,117$22,404
5 years$24,120$22,968$21,875$20,838$19,853$16,316
6 years$19,898$18,755$17,678$16,664$15,709$12,349
7 years$16,884$15,751$14,691$13,700$12,776$9,592
8 years$14,624$13,501$12,459$11,493$10,599$7,590
9 years$12,868$11,755$10,731$9,789$8,926$6,087
10 years$11,463$10,362$9,355$8,439$7,605$4,933
11 years$10,315$9,224$8,236$7,344$6,541$4,030
12 years$9,359$8,279$7,310$6,442$5,668$3,313
13 years$8,550$7,482$6,531$5,687$4,943$2,738
14 years$7,858$6,801$5,868$5,048$4,333$2,271
15 years$7,258$6,213$5,298$4,502$3,815$1,890
16 years$6,734$5,700$4,803$4,031$3,372$1,578
17 years$6,272$5,250$4,371$3,622$2,989$1,320
18 years$5,862$4,851$3,990$3,264$2,658$1,106
19 years$5,495$4,496$3,653$2,950$2,369$928
20 years$5,166$4,178$3,352$2,671$2,116$780
21 years$4,868$3,891$3,083$2,424$1,894$656
22 years$4,598$3,632$2,842$2,204$1,698$553
23 years$4,352$3,397$2,624$2,008$1,524$466
24 years$4,126$3,183$2,427$1,831$1,370$393
25 years$3,919$2,987$2,248$1,672$1,232$331
26 years$3,728$2,807$2,084$1,529$1,110$280
27 years$3,551$2,642$1,936$1,399$1,001$236
28 years$3,388$2,490$1,799$1,282$903$199
29 years$3,236$2,349$1,675$1,176$815$168
30 years$3,094$2,218$1,560$1,079$737$142
31 years$2,962$2,097$1,454$991$666$120
32 years$2,838$1,984$1,357$911$603$102
33 years$2,722$1,879$1,267$838$545$86
34 years$2,613$1,781$1,184$771$494$73
35 years$2,511$1,689$1,107$709$447$61
36 years$2,414$1,603$1,035$653$405$52
37 years$2,323$1,523$969$602$367$44
38 years$2,237$1,447$907$555$333$37
39 years$2,155$1,376$850$512$302$31
40 years$2,078$1,309$797$472$274$27
41 years$2,005$1,246$747$435$248$22
42 years$1,935$1,187$701$402$225$19
43 years$1,869$1,131$658$371$205$16
44 years$1,806$1,078$617$342$186$14
45 years$1,746$1,028$580$316$169$12
46 years$1,689$981$544$292$153$10
47 years$1,634$936$511$270$139$8
48 years$1,582$893$481$249$126$7
49 years$1,532$853$452$231$115$6
50 years$1,484$815$425$213$104$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,520,000, adding $3,998 every year, while hoping to spend $54,697 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: 58/34/8 Blend
46$1,520,000$1,520,000$1,520,000$1,520,000
47$1,679,164$1,598,604$1,575,044$1,773,313
48$1,792,241$1,618,738$1,569,611$1,857,212
49$1,915,020$1,638,026$1,562,162$1,942,094
50$2,048,430$1,656,368$1,552,573$2,033,263
51$2,193,498$1,673,658$1,540,713$2,131,323
52$2,351,351$1,689,784$1,526,443$2,236,946
53$2,523,230$1,704,624$1,509,619$2,350,869
54$2,710,500$1,718,051$1,490,092$2,473,906
55$2,914,663$1,729,927$1,467,702$2,606,957
56$3,137,372$1,740,108$1,442,284$2,751,013
57$3,380,449$1,748,438$1,413,665$2,907,167
58$3,645,896$1,754,753$1,381,664$3,076,627
59$3,935,919$1,758,877$1,346,092$3,260,724
60$4,252,946$1,760,625$1,306,749$3,460,928
61$4,599,650$1,759,799$1,263,428$3,678,859
62$4,978,974$1,756,189$1,215,913$3,916,307
63$5,394,159$1,749,572$1,163,976$4,175,245
64$5,848,774$1,739,711$1,107,379$4,457,849
65$6,346,748$1,726,357$1,045,876$4,766,523
66$6,892,410$1,709,242$979,207$5,103,916
67$7,490,526$1,688,084$907,100$5,472,951
68$8,146,345$1,662,586$829,273$5,876,855
69$8,865,648$1,632,429$745,430$6,319,184
70$9,654,805$1,597,278$655,262$6,803,866
71$10,520,828$1,556,778$558,447$7,335,229
72$11,471,445$1,510,553$454,647$7,918,049
73$12,515,165$1,458,203$343,511$8,557,597
74$13,661,365$1,399,308$224,671$9,259,683
75$14,920,371$1,333,420$97,745$10,030,718
76$16,303,560$1,260,070$0$10,877,773
77$17,823,466$1,178,756$0$11,811,864
78$19,493,896$1,088,951$0$12,847,487
79$21,330,062$990,098$0$13,985,815
80$23,348,722$881,607$0$15,237,347
81$25,568,339$762,853$0$16,613,662
82$28,009,256$633,179$0$18,127,528
83$30,693,885$491,889$0$19,793,020
84$33,646,917$338,248$0$21,625,660
85$36,895,560$171,480$0$23,642,560
86$40,469,789$0$0$25,862,586
87$44,402,633$0$0$28,309,996
88$48,730,481$0$0$31,073,966
89$53,493,432$0$0$34,115,966
90$58,735,665$0$0$37,464,233
91$64,505,862$0$0$41,149,879
92$70,857,663$0$0$45,207,186
93$77,850,172$0$0$49,673,928
94$85,548,515$0$0$54,591,731
95$94,024,455$0$0$60,006,457
96$103,357,065$0$0$65,968,646
97$113,633,477$0$0$72,533,987
98$124,949,705$0$0$79,763,844
99$137,411,545$0$0$87,725,834
100$151,135,577$0$0$96,494,469