Can I retire at age 47 with 1,580,000?

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 $1,580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$130,475$129,313$128,179$127,072$125,991$124,469
2 years$64,592$63,389$62,223$61,092$59,996$58,463
3 years$42,633$41,425$40,262$39,142$38,064$36,569
4 years$31,656$30,452$29,301$28,200$27,147$25,702
5 years$25,072$23,875$22,738$21,660$20,637$19,245
6 years$20,684$19,495$18,376$17,322$16,329$14,993
7 years$17,550$16,372$15,271$14,241$13,280$12,000
8 years$15,202$14,034$12,951$11,947$11,017$9,792
9 years$13,376$12,219$11,154$10,176$9,278$8,108
10 years$11,916$10,771$9,725$8,772$7,905$6,790
11 years$10,722$9,588$8,561$7,634$6,799$5,737
12 years$9,728$8,606$7,598$6,696$5,892$4,882
13 years$8,888$7,777$6,788$5,912$5,138$4,179
14 years$8,168$7,069$6,099$5,248$4,504$3,595
15 years$7,545$6,458$5,507$4,680$3,965$3,105
16 years$7,000$5,925$4,993$4,190$3,505$2,690
17 years$6,520$5,457$4,543$3,765$3,107$2,338
18 years$6,093$5,042$4,147$3,393$2,763$2,037
19 years$5,712$4,673$3,797$3,066$2,463$1,779
20 years$5,370$4,343$3,484$2,777$2,200$1,556
21 years$5,060$4,045$3,205$2,520$1,969$1,363
22 years$4,779$3,776$2,954$2,291$1,765$1,196
23 years$4,523$3,531$2,727$2,087$1,584$1,050
24 years$4,289$3,309$2,522$1,903$1,424$923
25 years$4,073$3,105$2,336$1,738$1,281$812
26 years$3,875$2,918$2,167$1,589$1,154$715
27 years$3,692$2,746$2,012$1,455$1,040$630
28 years$3,521$2,588$1,870$1,333$939$556
29 years$3,363$2,441$1,741$1,222$848$490
30 years$3,216$2,306$1,621$1,122$766$433
31 years$3,079$2,180$1,512$1,030$692$382
32 years$2,950$2,062$1,410$947$626$338
33 years$2,830$1,953$1,317$871$567$298
34 years$2,716$1,851$1,230$801$513$264
35 years$2,610$1,756$1,150$737$465$233
36 years$2,509$1,666$1,076$679$421$206
37 years$2,415$1,583$1,007$626$382$182
38 years$2,325$1,504$943$577$346$161
39 years$2,240$1,430$884$532$314$143
40 years$2,160$1,361$828$491$285$126
41 years$2,084$1,295$777$453$258$112
42 years$2,012$1,234$728$418$234$99
43 years$1,943$1,175$684$386$213$88
44 years$1,877$1,120$642$356$193$77
45 years$1,815$1,068$603$329$175$69
46 years$1,755$1,019$566$304$159$61
47 years$1,699$973$532$281$144$54
48 years$1,644$929$500$259$131$48
49 years$1,592$887$470$240$119$42
50 years$1,543$847$441$221$108$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,580,000, adding $4,776 every year, while hoping to spend $35,769 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: 71/18/11 Blend
46$1,580,000$1,580,000$1,580,000$1,580,000
47$1,746,086$1,662,346$1,637,856$1,865,839
48$1,886,129$1,705,743$1,654,667$1,989,167
49$2,039,258$1,750,068$1,670,841$2,119,287
50$2,206,769$1,795,328$1,686,321$2,260,762
51$2,390,090$1,841,530$1,701,044$2,414,703
52$2,590,795$1,888,681$1,714,944$2,582,333
53$2,810,614$1,936,784$1,727,953$2,765,001
54$3,051,455$1,985,845$1,739,998$2,964,191
55$3,315,418$2,035,866$1,751,002$3,181,540
56$3,604,815$2,086,848$1,760,886$3,418,847
57$3,922,195$2,138,792$1,769,564$3,678,096
58$4,270,362$2,191,696$1,776,947$3,961,472
59$4,652,408$2,245,558$1,782,944$4,271,383
60$5,071,736$2,300,373$1,787,455$4,610,480
61$5,532,096$2,356,135$1,790,378$4,981,684
62$6,037,619$2,412,834$1,791,605$5,388,213
63$6,592,855$2,470,462$1,791,022$5,833,613
64$7,202,816$2,529,004$1,788,511$6,321,789
65$7,873,023$2,588,445$1,783,947$6,857,045
66$8,609,561$2,648,768$1,777,198$7,444,122
67$9,419,130$2,709,952$1,768,128$8,088,245
68$10,309,115$2,771,973$1,756,594$8,795,170
69$11,287,648$2,834,804$1,742,444$9,571,238
70$12,363,693$2,898,414$1,725,520$10,423,439
71$13,547,123$2,962,769$1,705,658$11,359,473
72$14,848,815$3,027,831$1,682,684$12,387,825
73$16,280,757$3,093,557$1,656,416$13,517,843
74$17,856,154$3,159,901$1,626,666$14,759,831
75$19,589,556$3,226,811$1,593,234$16,125,141
76$21,496,996$3,294,230$1,555,912$17,626,282
77$23,596,138$3,362,095$1,514,483$19,277,040
78$25,906,445$3,430,339$1,468,719$21,092,604
79$28,449,364$3,498,887$1,418,383$23,089,713
80$31,248,525$3,567,658$1,363,225$25,286,814
81$34,329,966$3,636,565$1,302,984$27,704,232
82$37,722,378$3,705,512$1,237,390$30,364,368
83$41,457,375$3,774,397$1,166,157$33,291,905
84$45,569,792$3,843,107$1,088,988$36,514,045
85$50,098,014$3,911,523$1,005,573$40,060,763
86$55,084,338$3,979,514$915,586$43,965,091
87$60,575,372$4,046,941$818,689$48,263,432
88$66,622,472$4,113,654$714,528$52,995,901
89$73,282,232$4,179,490$602,732$58,206,704
90$80,617,012$4,244,277$482,915$63,944,557
91$88,695,528$4,307,829$354,675$70,263,145
92$97,593,505$4,369,945$217,589$77,221,631
93$107,394,382$4,430,412$71,218$84,885,209
94$118,190,109$4,489,002$0$93,325,728
95$130,082,007$4,545,470$0$102,632,338
96$143,181,729$4,599,555$0$112,891,886
97$157,612,310$4,650,978$0$124,192,218
98$173,509,331$4,699,441$0$136,639,359
99$191,022,196$4,744,626$0$150,350,143
100$210,315,542$4,786,196$0$165,453,325