Can I retire at age 47 with 1,540,000?

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 $1,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$127,172$126,039$124,934$123,855$122,802$120,817
2 years$62,956$61,784$60,647$59,546$58,477$56,483
3 years$41,554$40,376$39,243$38,152$37,100$35,159
4 years$30,855$29,681$28,559$27,486$26,460$24,586
5 years$24,437$23,270$22,163$21,112$20,115$18,314
6 years$20,160$19,002$17,911$16,883$15,916$14,190
7 years$17,106$15,958$14,884$13,881$12,944$11,294
8 years$14,817$13,679$12,623$11,644$10,738$9,164
9 years$13,037$11,910$10,872$9,918$9,043$7,543
10 years$11,614$10,498$9,478$8,550$7,705$6,278
11 years$10,451$9,346$8,345$7,441$6,627$5,272
12 years$9,482$8,388$7,406$6,527$5,743$4,458
13 years$8,663$7,580$6,617$5,762$5,008$3,791
14 years$7,961$6,890$5,945$5,115$4,390$3,239
15 years$7,354$6,295$5,368$4,562$3,865$2,778
16 years$6,823$5,775$4,866$4,084$3,416$2,391
17 years$6,355$5,319$4,428$3,670$3,029$2,063
18 years$5,939$4,915$4,042$3,307$2,693$1,785
19 years$5,568$4,555$3,701$2,988$2,400$1,547
20 years$5,234$4,233$3,396$2,707$2,144$1,343
21 years$4,932$3,943$3,124$2,456$1,919$1,168
22 years$4,658$3,680$2,879$2,233$1,720$1,017
23 years$4,409$3,442$2,658$2,034$1,544$886
24 years$4,180$3,225$2,459$1,855$1,388$773
25 years$3,970$3,026$2,277$1,694$1,249$675
26 years$3,777$2,844$2,112$1,549$1,125$590
27 years$3,598$2,677$1,961$1,418$1,014$515
28 years$3,432$2,522$1,823$1,299$915$451
29 years$3,278$2,380$1,697$1,191$826$394
30 years$3,135$2,247$1,580$1,093$747$345
31 years$3,001$2,124$1,473$1,004$675$302
32 years$2,875$2,010$1,375$923$611$265
33 years$2,758$1,904$1,283$849$553$232
34 years$2,648$1,804$1,199$781$500$204
35 years$2,544$1,711$1,121$719$453$178
36 years$2,446$1,624$1,049$662$411$156
37 years$2,354$1,543$982$610$372$137
38 years$2,266$1,466$919$562$337$120
39 years$2,184$1,394$861$518$306$106
40 years$2,105$1,326$807$478$277$93
41 years$2,031$1,263$757$441$252$81
42 years$1,961$1,202$710$407$228$71
43 years$1,894$1,146$666$376$207$63
44 years$1,830$1,092$625$347$188$55
45 years$1,769$1,041$587$320$171$48
46 years$1,711$993$552$296$155$42
47 years$1,656$948$518$273$141$37
48 years$1,603$905$487$253$128$33
49 years$1,552$864$458$234$116$29
50 years$1,504$826$430$216$106$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,540,000, adding $5,126 every year, while hoping to spend $34,078 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: 52/26/22 Blend
46$1,540,000$1,540,000$1,540,000$1,540,000
47$1,702,367$1,620,747$1,596,877$1,780,263
48$1,839,750$1,663,905$1,614,114$1,877,717
49$1,990,004$1,708,036$1,630,786$1,979,729
50$2,154,405$1,753,151$1,646,838$2,089,978
51$2,334,360$1,799,261$1,662,213$2,209,261
52$2,531,417$1,846,377$1,676,850$2,338,452
53$2,747,281$1,894,508$1,690,683$2,478,518
54$2,983,829$1,943,665$1,703,647$2,630,522
55$3,243,130$1,993,854$1,715,669$2,795,634
56$3,527,460$2,045,084$1,726,674$2,975,145
57$3,839,327$2,097,360$1,736,585$3,170,476
58$4,181,496$2,150,687$1,745,317$3,383,192
59$4,557,008$2,205,071$1,752,785$3,615,020
60$4,969,216$2,260,512$1,758,896$3,867,860
61$5,421,812$2,317,013$1,763,555$4,143,806
62$5,918,863$2,374,573$1,766,661$4,445,166
63$6,464,850$2,433,191$1,768,107$4,774,484
64$7,064,710$2,492,862$1,767,784$5,134,562
65$7,723,879$2,553,581$1,765,573$5,528,487
66$8,448,348$2,615,340$1,761,354$5,959,663
67$9,244,717$2,678,129$1,754,996$6,431,841
68$10,120,257$2,741,936$1,746,368$6,949,151
69$11,082,978$2,806,746$1,735,326$7,516,150
70$12,141,706$2,872,541$1,721,723$8,137,856
71$13,306,165$2,939,300$1,705,406$8,819,800
72$14,587,067$3,006,999$1,686,211$9,568,079
73$15,996,218$3,075,612$1,663,968$10,389,410
74$17,546,621$3,145,106$1,638,500$11,291,198
75$19,252,608$3,215,447$1,609,621$12,281,603
76$21,129,967$3,286,597$1,577,136$13,369,617
77$23,196,094$3,358,511$1,540,841$14,565,151
78$25,470,159$3,431,141$1,500,522$15,879,128
79$27,973,282$3,504,434$1,455,957$17,323,587
80$30,728,737$3,578,331$1,406,912$18,911,794
81$33,762,166$3,652,768$1,353,142$20,658,373
82$37,101,828$3,727,674$1,294,392$22,579,437
83$40,778,856$3,802,972$1,230,396$24,692,746
84$44,827,559$3,878,577$1,160,874$27,017,876
85$49,285,742$3,954,399$1,085,535$29,576,398
86$54,195,061$4,030,338$1,004,074$32,392,087
87$59,601,419$4,106,287$916,172$35,491,146
88$65,555,397$4,182,128$821,497$38,902,452
89$72,112,731$4,257,737$719,702$42,657,833
90$79,334,841$4,332,977$610,423$46,792,363
91$87,289,404$4,407,702$493,281$51,344,699
92$96,050,998$4,481,754$367,881$56,357,444
93$105,701,804$4,554,964$233,810$61,877,553
94$116,332,381$4,627,151$90,635$67,956,771
95$128,042,520$4,698,117$0$74,652,127
96$140,942,187$4,767,655$0$82,041,062
97$155,152,559$4,835,538$0$90,201,908
98$170,807,168$4,901,527$0$99,189,818
99$188,053,162$4,965,365$0$109,089,043
100$207,052,693$5,026,777$0$119,992,427