Can I retire at age 47 with 1,550,000?

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 $1,550,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$127,998$126,857$125,745$124,659$123,599$122,308
2 years$63,365$62,185$61,041$59,932$58,857$57,557
3 years$41,824$40,639$39,498$38,399$37,341$36,073
4 years$31,055$29,874$28,744$27,664$26,632$25,404
5 years$24,596$23,421$22,307$21,249$20,245$19,062
6 years$20,291$19,125$18,027$16,993$16,019$14,882
7 years$17,217$16,061$14,981$13,971$13,028$11,938
8 years$14,913$13,768$12,705$11,720$10,808$9,764
9 years$13,122$11,987$10,943$9,983$9,102$8,104
10 years$11,690$10,566$9,540$8,605$7,755$6,803
11 years$10,519$9,406$8,399$7,489$6,670$5,762
12 years$9,543$8,443$7,454$6,569$5,780$4,916
13 years$8,719$7,630$6,659$5,799$5,040$4,219
14 years$8,013$6,935$5,984$5,148$4,418$3,639
15 years$7,402$6,335$5,402$4,591$3,890$3,151
16 years$6,867$5,813$4,898$4,111$3,438$2,738
17 years$6,396$5,353$4,457$3,694$3,048$2,387
18 years$5,978$4,947$4,069$3,329$2,711$2,085
19 years$5,604$4,584$3,725$3,008$2,416$1,826
20 years$5,268$4,260$3,418$2,724$2,158$1,602
21 years$4,964$3,968$3,144$2,472$1,931$1,407
22 years$4,689$3,704$2,898$2,248$1,731$1,238
23 years$4,437$3,464$2,676$2,047$1,554$1,091
24 years$4,207$3,246$2,475$1,867$1,397$962
25 years$3,996$3,046$2,292$1,705$1,257$849
26 years$3,801$2,863$2,126$1,559$1,132$750
27 years$3,621$2,694$1,974$1,427$1,021$663
28 years$3,455$2,539$1,835$1,308$921$587
29 years$3,300$2,395$1,708$1,199$832$519
30 years$3,155$2,262$1,591$1,100$751$460
31 years$3,020$2,138$1,483$1,011$679$407
32 years$2,894$2,023$1,383$929$615$361
33 years$2,776$1,916$1,292$854$556$320
34 years$2,665$1,816$1,207$786$504$284
35 years$2,560$1,722$1,128$723$456$252
36 years$2,462$1,635$1,056$666$413$223
37 years$2,369$1,553$988$614$374$198
38 years$2,281$1,476$925$566$340$176
39 years$2,198$1,403$867$522$308$156
40 years$2,119$1,335$813$481$279$139
41 years$2,044$1,271$762$444$253$123
42 years$1,973$1,210$715$410$230$109
43 years$1,906$1,153$671$378$209$97
44 years$1,842$1,099$629$349$189$86
45 years$1,780$1,048$591$323$172$77
46 years$1,722$1,000$555$298$156$68
47 years$1,666$954$522$275$142$61
48 years$1,613$911$490$254$129$54
49 years$1,562$870$461$235$117$48
50 years$1,513$831$433$217$106$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,550,000, adding $2,459 every year, while hoping to spend $27,658 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: 51/20/29 Blend
46$1,550,000$1,550,000$1,550,000$1,550,000
47$1,710,636$1,628,486$1,604,461$1,783,768
48$1,855,693$1,678,854$1,628,783$1,885,436
49$2,014,619$1,730,763$1,652,992$1,992,969
50$2,188,799$1,784,260$1,677,057$2,109,366
51$2,379,760$1,839,391$1,700,941$2,235,485
52$2,589,180$1,896,207$1,724,607$2,372,269
53$2,818,913$1,954,757$1,748,018$2,520,759
54$3,070,995$2,015,093$1,771,130$2,682,097
55$3,347,674$2,077,269$1,793,899$2,857,545
56$3,651,421$2,141,341$1,816,280$3,048,489
57$3,984,963$2,207,363$1,838,222$3,256,460
58$4,351,301$2,275,396$1,859,675$3,483,139
59$4,753,742$2,345,498$1,880,581$3,730,383
60$5,195,927$2,417,731$1,900,884$4,000,233
61$5,681,870$2,492,159$1,920,523$4,294,940
62$6,215,992$2,568,846$1,939,432$4,616,982
63$6,803,164$2,647,860$1,957,543$4,969,092
64$7,448,751$2,729,269$1,974,785$5,354,278
65$8,158,666$2,813,145$1,991,083$5,775,855
66$8,939,421$2,899,561$2,006,355$6,237,475
67$9,798,193$2,988,591$2,020,519$6,743,162
68$10,742,889$3,080,312$2,033,487$7,297,349
69$11,782,221$3,174,804$2,045,165$7,904,922
70$12,925,786$3,272,148$2,055,457$8,571,263
71$14,184,161$3,372,428$2,064,260$9,302,303
72$15,568,998$3,475,730$2,071,465$10,104,577
73$17,093,137$3,582,142$2,076,961$10,985,286
74$18,770,726$3,691,756$2,080,628$11,952,364
75$20,617,353$3,804,664$2,082,341$13,014,556
76$22,650,194$3,920,964$2,081,971$14,181,495
77$24,888,175$4,040,753$2,079,379$15,463,798
78$27,352,153$4,164,133$2,074,421$16,873,165
79$30,065,105$4,291,208$2,066,947$18,422,487
80$33,052,354$4,422,086$2,056,798$20,125,970
81$36,341,802$4,556,876$2,043,809$21,999,270
82$39,964,193$4,695,691$2,027,804$24,059,638
83$43,953,408$4,838,646$2,008,603$26,326,084
84$48,346,778$4,985,863$1,986,013$28,819,558
85$53,185,441$5,137,461$1,959,836$31,563,145
86$58,514,727$5,293,568$1,929,861$34,582,286
87$64,384,587$5,454,311$1,895,870$37,905,017
88$70,850,067$5,619,824$1,857,633$41,562,233
89$77,971,820$5,790,241$1,814,910$45,587,978
90$85,816,686$5,965,703$1,767,450$50,019,774
91$94,458,318$6,146,353$1,714,990$54,898,965
92$103,977,878$6,332,337$1,657,254$60,271,115
93$114,464,806$6,523,805$1,593,956$66,186,437
94$126,017,658$6,720,913$1,524,795$72,700,263
95$138,745,039$6,923,818$1,449,457$79,873,571
96$152,766,632$7,132,684$1,367,612$87,773,562
97$168,214,319$7,347,677$1,278,918$96,474,287
98$185,233,434$7,568,967$1,183,016$106,057,356
99$203,984,128$7,796,729$1,079,530$116,612,702
100$224,642,884$8,031,144$968,069$128,239,433