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%11.1%
1 years$127,172$126,039$124,934$123,855$122,802$122,233
2 years$62,956$61,784$60,647$59,546$58,477$57,903
3 years$41,554$40,376$39,243$38,152$37,100$36,538
4 years$30,855$29,681$28,559$27,486$26,460$25,915
5 years$24,437$23,270$22,163$21,112$20,115$19,588
6 years$20,160$19,002$17,911$16,883$15,916$15,408
7 years$17,106$15,958$14,884$13,881$12,944$12,456
8 years$14,817$13,679$12,623$11,644$10,738$10,269
9 years$13,037$11,910$10,872$9,918$9,043$8,593
10 years$11,614$10,498$9,478$8,550$7,705$7,275
11 years$10,451$9,346$8,345$7,441$6,627$6,215
12 years$9,482$8,388$7,406$6,527$5,743$5,349
13 years$8,663$7,580$6,617$5,762$5,008$4,632
14 years$7,961$6,890$5,945$5,115$4,390$4,032
15 years$7,354$6,295$5,368$4,562$3,865$3,524
16 years$6,823$5,775$4,866$4,084$3,416$3,092
17 years$6,355$5,319$4,428$3,670$3,029$2,721
18 years$5,939$4,915$4,042$3,307$2,693$2,401
19 years$5,568$4,555$3,701$2,988$2,400$2,124
20 years$5,234$4,233$3,396$2,707$2,144$1,882
21 years$4,932$3,943$3,124$2,456$1,919$1,671
22 years$4,658$3,680$2,879$2,233$1,720$1,486
23 years$4,409$3,442$2,658$2,034$1,544$1,323
24 years$4,180$3,225$2,459$1,855$1,388$1,179
25 years$3,970$3,026$2,277$1,694$1,249$1,052
26 years$3,777$2,844$2,112$1,549$1,125$940
27 years$3,598$2,677$1,961$1,418$1,014$840
28 years$3,432$2,522$1,823$1,299$915$752
29 years$3,278$2,380$1,697$1,191$826$673
30 years$3,135$2,247$1,580$1,093$747$603
31 years$3,001$2,124$1,473$1,004$675$540
32 years$2,875$2,010$1,375$923$611$484
33 years$2,758$1,904$1,283$849$553$434
34 years$2,648$1,804$1,199$781$500$390
35 years$2,544$1,711$1,121$719$453$350
36 years$2,446$1,624$1,049$662$411$314
37 years$2,354$1,543$982$610$372$282
38 years$2,266$1,466$919$562$337$253
39 years$2,184$1,394$861$518$306$227
40 years$2,105$1,326$807$478$277$204
41 years$2,031$1,263$757$441$252$184
42 years$1,961$1,202$710$407$228$165
43 years$1,894$1,146$666$376$207$148
44 years$1,830$1,092$625$347$188$133
45 years$1,769$1,041$587$320$171$120
46 years$1,711$993$552$296$155$108
47 years$1,656$948$518$273$141$97
48 years$1,603$905$487$253$128$87
49 years$1,552$864$458$234$116$79
50 years$1,504$826$430$216$106$71

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 $2,934 every year, while hoping to spend $34,638 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: 54/20/26 Blend
46$1,540,000$1,540,000$1,540,000$1,540,000
47$1,700,106$1,618,486$1,594,616$1,779,524
48$1,836,663$1,660,938$1,611,182$1,877,079
49$1,985,987$1,704,308$1,627,141$1,979,411
50$2,149,345$1,748,606$1,642,437$2,090,114
51$2,328,129$1,793,840$1,657,010$2,210,003
52$2,523,876$1,840,016$1,670,798$2,339,974
53$2,738,275$1,887,140$1,683,733$2,481,018
54$2,973,187$1,935,218$1,695,746$2,634,224
55$3,230,662$1,984,253$1,706,763$2,800,792
56$3,512,956$2,034,248$1,716,706$2,982,047
57$3,822,557$2,085,205$1,725,495$3,179,446
58$4,162,202$2,137,125$1,733,044$3,394,597
59$4,534,908$2,190,006$1,739,262$3,629,268
60$4,943,997$2,243,844$1,744,056$3,885,413
61$5,393,129$2,298,637$1,747,326$4,165,180
62$5,886,335$2,354,377$1,748,968$4,470,941
63$6,428,056$2,411,056$1,748,873$4,805,306
64$7,023,184$2,468,664$1,746,927$5,171,153
65$7,677,108$2,527,188$1,743,008$5,571,656
66$8,395,765$2,586,612$1,736,991$6,010,310
67$9,185,697$2,646,920$1,728,744$6,490,968
68$10,054,109$2,708,089$1,718,128$7,017,877
69$11,008,940$2,770,098$1,704,997$7,595,718
70$12,058,937$2,832,918$1,689,200$8,229,649
71$13,213,737$2,896,520$1,670,577$8,925,356
72$14,483,958$2,960,869$1,648,960$9,689,105
73$15,881,298$3,025,927$1,624,176$10,527,803
74$17,418,645$3,091,652$1,596,041$11,449,062
75$19,110,201$3,157,998$1,564,363$12,461,272
76$20,971,614$3,224,912$1,528,942$13,573,680
77$23,020,125$3,292,339$1,489,568$14,796,477
78$25,274,730$3,360,216$1,446,020$16,140,897
79$27,756,362$3,428,476$1,398,071$17,619,319
80$30,488,083$3,497,043$1,345,479$19,245,389
81$33,495,308$3,565,839$1,287,993$21,034,145
82$36,806,039$3,634,775$1,225,350$23,002,163
83$40,451,133$3,703,756$1,157,277$25,167,710
84$44,464,588$3,772,681$1,083,486$27,550,922
85$48,883,871$3,841,436$1,003,677$30,173,990
86$53,750,263$3,909,904$917,538$33,061,369
87$59,109,254$3,977,954$824,740$36,240,017
88$65,010,972$4,045,447$724,942$39,739,640
89$71,510,650$4,112,233$617,787$43,592,982
90$78,669,155$4,178,152$502,901$47,836,129
91$86,553,557$4,243,029$379,897$52,508,852
92$95,237,763$4,306,680$248,366$57,654,984
93$104,803,213$4,368,906$107,885$63,322,833
94$115,339,652$4,429,494$0$69,565,641
95$126,945,974$4,488,216$0$76,453,746
96$139,731,152$4,544,828$0$84,072,854
97$153,815,275$4,599,070$0$92,464,410
98$169,330,672$4,650,663$0$101,707,101
99$186,423,166$4,699,311$0$111,887,640
100$205,253,448$4,744,696$0$123,101,585