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

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 $1,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$125,520$124,402$123,311$122,247$121,207$119,544
2 years$62,139$60,981$59,860$58,772$57,718$56,045
3 years$41,014$39,852$38,733$37,656$36,618$34,988
4 years$30,454$29,295$28,188$27,129$26,117$24,541
5 years$24,120$22,968$21,875$20,838$19,853$18,338
6 years$19,898$18,755$17,678$16,664$15,709$14,255
7 years$16,884$15,751$14,691$13,700$12,776$11,384
8 years$14,624$13,501$12,459$11,493$10,599$9,268
9 years$12,868$11,755$10,731$9,789$8,926$7,656
10 years$11,463$10,362$9,355$8,439$7,605$6,396
11 years$10,315$9,224$8,236$7,344$6,541$5,391
12 years$9,359$8,279$7,310$6,442$5,668$4,576
13 years$8,550$7,482$6,531$5,687$4,943$3,907
14 years$7,858$6,801$5,868$5,048$4,333$3,351
15 years$7,258$6,213$5,298$4,502$3,815$2,887
16 years$6,734$5,700$4,803$4,031$3,372$2,495
17 years$6,272$5,250$4,371$3,622$2,989$2,162
18 years$5,862$4,851$3,990$3,264$2,658$1,878
19 years$5,495$4,496$3,653$2,950$2,369$1,635
20 years$5,166$4,178$3,352$2,671$2,116$1,426
21 years$4,868$3,891$3,083$2,424$1,894$1,245
22 years$4,598$3,632$2,842$2,204$1,698$1,089
23 years$4,352$3,397$2,624$2,008$1,524$954
24 years$4,126$3,183$2,427$1,831$1,370$836
25 years$3,919$2,987$2,248$1,672$1,232$733
26 years$3,728$2,807$2,084$1,529$1,110$644
27 years$3,551$2,642$1,936$1,399$1,001$565
28 years$3,388$2,490$1,799$1,282$903$497
29 years$3,236$2,349$1,675$1,176$815$437
30 years$3,094$2,218$1,560$1,079$737$384
31 years$2,962$2,097$1,454$991$666$338
32 years$2,838$1,984$1,357$911$603$298
33 years$2,722$1,879$1,267$838$545$262
34 years$2,613$1,781$1,184$771$494$231
35 years$2,511$1,689$1,107$709$447$204
36 years$2,414$1,603$1,035$653$405$179
37 years$2,323$1,523$969$602$367$158
38 years$2,237$1,447$907$555$333$139
39 years$2,155$1,376$850$512$302$123
40 years$2,078$1,309$797$472$274$108
41 years$2,005$1,246$747$435$248$96
42 years$1,935$1,187$701$402$225$84
43 years$1,869$1,131$658$371$205$74
44 years$1,806$1,078$617$342$186$66
45 years$1,746$1,028$580$316$169$58
46 years$1,689$981$544$292$153$51
47 years$1,634$936$511$270$139$45
48 years$1,582$893$481$249$126$40
49 years$1,532$853$452$231$115$35
50 years$1,484$815$425$213$104$31

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 $3,544 every year, while hoping to spend $54,413 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: 65/10/25 Blend
46$1,520,000$1,520,000$1,520,000$1,520,000
47$1,678,696$1,598,136$1,574,576$1,776,634
48$1,792,028$1,618,549$1,569,429$1,863,523
49$1,915,096$1,638,139$1,562,286$1,952,032
50$2,048,836$1,656,808$1,553,023$2,047,544
51$2,194,277$1,674,452$1,541,509$2,150,754
52$2,352,551$1,690,958$1,527,608$2,262,425
53$2,524,905$1,706,209$1,511,176$2,383,401
54$2,712,709$1,720,077$1,492,065$2,514,611
55$2,917,473$1,732,428$1,470,116$2,657,083
56$3,140,857$1,743,119$1,445,167$2,811,948
57$3,384,689$1,751,996$1,417,044$2,980,456
58$3,650,980$1,758,897$1,385,568$3,163,984
59$3,941,947$1,763,650$1,350,551$3,364,052
60$4,260,027$1,766,070$1,311,796$3,582,337
61$4,607,905$1,765,963$1,269,097$3,820,689
62$4,988,537$1,763,121$1,222,238$4,081,148
63$5,405,179$1,757,325$1,170,994$4,365,965
64$5,861,414$1,748,341$1,115,129$4,677,620
65$6,361,190$1,735,921$1,054,397$5,018,854
66$6,908,853$1,719,803$988,541$5,392,684
67$7,509,191$1,699,708$917,292$5,802,443
68$8,167,475$1,675,341$840,368$6,251,802
69$8,889,514$1,646,388$757,477$6,744,814
70$9,681,702$1,612,520$668,310$7,285,946
71$10,551,086$1,573,383$572,549$7,880,125
72$11,505,425$1,528,607$469,858$8,532,784
73$12,553,268$1,477,798$359,887$9,249,916
74$13,704,031$1,420,540$242,273$10,038,128
75$14,968,087$1,356,391$116,634$10,904,705
76$16,356,863$1,284,886$0$11,857,682
77$17,882,949$1,205,531$0$12,910,571
78$19,560,212$1,117,805$0$14,101,990
79$21,403,932$1,021,156$0$15,411,682
80$23,430,942$915,001$0$16,851,641
81$25,659,787$798,725$0$18,435,085
82$28,110,899$671,676$0$20,176,582
83$30,806,790$533,167$0$22,092,183
84$33,772,262$382,472$0$24,199,577
85$37,034,642$218,822$0$26,518,257
86$40,624,039$41,408$0$29,069,704
87$44,573,629$0$0$31,877,591
88$48,919,964$0$0$34,984,580
89$53,703,319$0$0$38,409,109
90$58,968,073$0$0$42,178,407
91$64,763,122$0$0$46,327,497
92$71,142,346$0$0$50,894,972
93$78,165,113$0$0$55,923,355
94$85,896,839$0$0$61,459,501
95$94,409,605$0$0$67,555,041
96$103,782,840$0$0$74,266,866
97$114,104,063$0$0$81,657,666
98$125,469,715$0$0$89,796,517
99$137,986,065$0$0$98,759,540
100$151,770,214$0$0$108,630,609