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%13.4%
1 years$130,475$129,313$128,179$127,072$125,991$124,211
2 years$64,592$63,389$62,223$61,092$59,996$58,206
3 years$42,633$41,425$40,262$39,142$38,064$36,320
4 years$31,656$30,452$29,301$28,200$27,147$25,462
5 years$25,072$23,875$22,738$21,660$20,637$19,016
6 years$20,684$19,495$18,376$17,322$16,329$14,774
7 years$17,550$16,372$15,271$14,241$13,280$11,792
8 years$15,202$14,034$12,951$11,947$11,017$9,595
9 years$13,376$12,219$11,154$10,176$9,278$7,922
10 years$11,916$10,771$9,725$8,772$7,905$6,614
11 years$10,722$9,588$8,561$7,634$6,799$5,571
12 years$9,728$8,606$7,598$6,696$5,892$4,725
13 years$8,888$7,777$6,788$5,912$5,138$4,032
14 years$8,168$7,069$6,099$5,248$4,504$3,456
15 years$7,545$6,458$5,507$4,680$3,965$2,975
16 years$7,000$5,925$4,993$4,190$3,505$2,569
17 years$6,520$5,457$4,543$3,765$3,107$2,225
18 years$6,093$5,042$4,147$3,393$2,763$1,932
19 years$5,712$4,673$3,797$3,066$2,463$1,680
20 years$5,370$4,343$3,484$2,777$2,200$1,464
21 years$5,060$4,045$3,205$2,520$1,969$1,278
22 years$4,779$3,776$2,954$2,291$1,765$1,117
23 years$4,523$3,531$2,727$2,087$1,584$977
24 years$4,289$3,309$2,522$1,903$1,424$856
25 years$4,073$3,105$2,336$1,738$1,281$750
26 years$3,875$2,918$2,167$1,589$1,154$658
27 years$3,692$2,746$2,012$1,455$1,040$577
28 years$3,521$2,588$1,870$1,333$939$507
29 years$3,363$2,441$1,741$1,222$848$446
30 years$3,216$2,306$1,621$1,122$766$392
31 years$3,079$2,180$1,512$1,030$692$344
32 years$2,950$2,062$1,410$947$626$303
33 years$2,830$1,953$1,317$871$567$267
34 years$2,716$1,851$1,230$801$513$235
35 years$2,610$1,756$1,150$737$465$207
36 years$2,509$1,666$1,076$679$421$182
37 years$2,415$1,583$1,007$626$382$160
38 years$2,325$1,504$943$577$346$141
39 years$2,240$1,430$884$532$314$124
40 years$2,160$1,361$828$491$285$110
41 years$2,084$1,295$777$453$258$97
42 years$2,012$1,234$728$418$234$85
43 years$1,943$1,175$684$386$213$75
44 years$1,877$1,120$642$356$193$66
45 years$1,815$1,068$603$329$175$58
46 years$1,755$1,019$566$304$159$51
47 years$1,699$973$532$281$144$45
48 years$1,644$929$500$259$131$40
49 years$1,592$887$470$240$119$35
50 years$1,543$847$441$221$108$31

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 $4,679 every year, while hoping to spend $23,081 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: 30/47/23 Blend
46$1,580,000$1,580,000$1,580,000$1,580,000
47$1,745,986$1,662,246$1,637,756$1,785,767
48$1,899,519$1,719,138$1,668,063$1,873,581
49$2,067,938$1,778,045$1,698,612$1,965,612
50$2,252,739$1,839,039$1,729,386$2,064,143
51$2,455,565$1,902,200$1,760,368$2,169,753
52$2,678,231$1,967,606$1,791,538$2,283,075
53$2,922,734$2,035,341$1,822,877$2,404,806
54$3,191,272$2,105,492$1,854,363$2,535,711
55$3,486,269$2,178,149$1,885,972$2,676,630
56$3,810,395$2,253,404$1,917,678$2,828,485
57$4,166,590$2,331,356$1,949,455$2,992,290
58$4,558,094$2,412,105$1,981,274$3,169,159
59$4,988,477$2,495,755$2,013,105$3,360,317
60$5,461,671$2,582,417$2,044,913$3,567,109
61$5,982,009$2,672,202$2,076,664$3,791,016
62$6,554,263$2,765,229$2,108,322$4,033,664
63$7,183,693$2,861,621$2,139,846$4,296,844
64$7,876,093$2,961,503$2,171,194$4,582,524
65$8,637,847$3,065,010$2,202,322$4,892,869
66$9,475,989$3,172,277$2,233,181$5,230,261
67$10,398,270$3,283,449$2,263,723$5,597,321
68$11,413,230$3,398,673$2,293,893$5,996,932
69$12,530,276$3,518,106$2,323,636$6,432,270
70$13,759,778$3,641,906$2,352,891$6,906,826
71$15,113,158$3,770,243$2,381,596$7,424,444
72$16,603,004$3,903,289$2,409,684$7,989,356
73$18,243,187$4,041,226$2,437,084$8,606,221
74$20,048,988$4,184,242$2,463,722$9,280,165
75$22,037,248$4,332,533$2,489,521$10,016,835
76$24,226,524$4,486,304$2,514,396$10,822,445
77$26,637,262$4,645,766$2,538,261$11,703,841
78$29,291,994$4,811,139$2,561,024$12,668,557
79$32,215,547$4,982,655$2,582,588$13,724,892
80$35,435,280$5,160,552$2,602,851$14,881,985
81$38,981,338$5,345,078$2,621,706$16,149,899
82$42,886,941$5,536,494$2,639,040$17,539,717
83$47,188,695$5,735,068$2,654,735$19,063,647
84$51,926,938$5,941,083$2,668,664$20,735,133
85$57,146,119$6,154,829$2,680,697$22,568,983
86$62,895,219$6,376,612$2,690,697$24,581,507
87$69,228,214$6,606,748$2,698,518$26,790,672
88$76,204,581$6,845,568$2,704,007$29,216,269
89$83,889,863$7,093,415$2,707,006$31,880,096
90$92,356,284$7,350,648$2,707,347$34,806,169
91$101,683,435$7,617,640$2,704,852$38,020,941
92$111,959,020$7,894,779$2,699,339$41,553,557
93$123,279,686$8,182,469$2,690,614$45,436,121
94$135,751,937$8,481,133$2,678,472$49,704,003
95$149,493,136$8,791,210$2,662,702$54,396,170
96$164,632,614$9,113,157$2,643,081$59,555,550
97$181,312,891$9,447,452$2,619,374$65,229,443
98$199,691,021$9,794,592$2,591,338$71,469,955
99$219,940,072$10,155,094$2,558,715$78,334,498
100$242,250,764$10,529,499$2,521,237$85,886,328