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

Use the below retirement simulation to view the chances of a successful retirement.
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%13.5%
1 years$130,475$129,313$128,179$127,072$125,991$124,160
2 years$64,592$63,389$62,223$61,092$59,996$58,155
3 years$42,633$41,425$40,262$39,142$38,064$36,270
4 years$31,656$30,452$29,301$28,200$27,147$25,415
5 years$25,072$23,875$22,738$21,660$20,637$18,971
6 years$20,684$19,495$18,376$17,322$16,329$14,731
7 years$17,550$16,372$15,271$14,241$13,280$11,751
8 years$15,202$14,034$12,951$11,947$11,017$9,556
9 years$13,376$12,219$11,154$10,176$9,278$7,885
10 years$11,916$10,771$9,725$8,772$7,905$6,579
11 years$10,722$9,588$8,561$7,634$6,799$5,538
12 years$9,728$8,606$7,598$6,696$5,892$4,695
13 years$8,888$7,777$6,788$5,912$5,138$4,003
14 years$8,168$7,069$6,099$5,248$4,504$3,429
15 years$7,545$6,458$5,507$4,680$3,965$2,950
16 years$7,000$5,925$4,993$4,190$3,505$2,546
17 years$6,520$5,457$4,543$3,765$3,107$2,203
18 years$6,093$5,042$4,147$3,393$2,763$1,911
19 years$5,712$4,673$3,797$3,066$2,463$1,661
20 years$5,370$4,343$3,484$2,777$2,200$1,447
21 years$5,060$4,045$3,205$2,520$1,969$1,262
22 years$4,779$3,776$2,954$2,291$1,765$1,102
23 years$4,523$3,531$2,727$2,087$1,584$963
24 years$4,289$3,309$2,522$1,903$1,424$843
25 years$4,073$3,105$2,336$1,738$1,281$738
26 years$3,875$2,918$2,167$1,589$1,154$647
27 years$3,692$2,746$2,012$1,455$1,040$567
28 years$3,521$2,588$1,870$1,333$939$498
29 years$3,363$2,441$1,741$1,222$848$437
30 years$3,216$2,306$1,621$1,122$766$384
31 years$3,079$2,180$1,512$1,030$692$337
32 years$2,950$2,062$1,410$947$626$297
33 years$2,830$1,953$1,317$871$567$261
34 years$2,716$1,851$1,230$801$513$229
35 years$2,610$1,756$1,150$737$465$202
36 years$2,509$1,666$1,076$679$421$177
37 years$2,415$1,583$1,007$626$382$156
38 years$2,325$1,504$943$577$346$137
39 years$2,240$1,430$884$532$314$121
40 years$2,160$1,361$828$491$285$106
41 years$2,084$1,295$777$453$258$94
42 years$2,012$1,234$728$418$234$83
43 years$1,943$1,175$684$386$213$73
44 years$1,877$1,120$642$356$193$64
45 years$1,815$1,068$603$329$175$56
46 years$1,755$1,019$566$304$159$50
47 years$1,699$973$532$281$144$44
48 years$1,644$929$500$259$131$39
49 years$1,592$887$470$240$119$34
50 years$1,543$847$441$221$108$30

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 $3,334 every year, while hoping to spend $21,946 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: 50/27/23 Blend
46$1,580,000$1,580,000$1,580,000$1,580,000
47$1,744,599$1,660,859$1,636,369$1,820,405
48$1,899,198$1,718,891$1,667,837$1,931,432
49$2,068,830$1,779,030$1,699,624$2,049,542
50$2,255,006$1,841,358$1,731,716$2,177,461
51$2,459,389$1,905,958$1,764,102$2,316,127
52$2,683,813$1,972,915$1,796,765$2,466,571
53$2,930,294$2,042,321$1,829,689$2,629,926
54$3,201,058$2,114,268$1,862,858$2,807,441
55$3,498,554$2,188,856$1,896,251$3,000,488
56$3,825,481$2,266,184$1,929,850$3,210,579
57$4,184,811$2,346,358$1,963,631$3,439,375
58$4,579,821$2,429,489$1,997,572$3,688,709
59$5,014,119$2,515,689$2,031,646$3,960,593
60$5,491,681$2,605,080$2,065,828$4,257,247
61$6,016,886$2,697,783$2,100,088$4,581,113
62$6,594,562$2,793,928$2,134,394$4,934,877
63$7,230,025$2,893,648$2,168,714$5,321,501
64$7,929,135$2,997,084$2,203,013$5,744,244
65$8,698,345$3,104,380$2,237,253$6,206,694
66$9,544,769$3,215,687$2,271,393$6,712,804
67$10,476,243$3,331,162$2,305,392$7,266,926
68$11,501,400$3,450,971$2,339,204$7,873,854
69$12,629,757$3,575,282$2,372,780$8,538,866
70$13,871,795$3,704,273$2,406,071$9,267,778
71$15,239,065$3,838,130$2,439,022$10,066,994
72$16,744,296$3,977,045$2,471,576$10,943,567
73$18,401,512$4,121,218$2,503,671$11,905,268
74$20,226,167$4,270,858$2,535,245$12,960,656
75$22,235,290$4,426,184$2,566,230$14,119,159
76$24,447,644$4,587,421$2,596,553$15,391,164
77$26,883,905$4,754,806$2,626,138$16,788,111
78$29,566,857$4,928,585$2,654,907$18,322,605
79$32,521,604$5,109,014$2,682,775$20,008,532
80$35,775,812$5,296,360$2,709,653$21,861,190
81$39,359,965$5,490,902$2,735,446$23,897,433
82$43,307,655$5,692,930$2,760,057$26,135,827
83$47,655,898$5,902,745$2,783,381$28,596,831
84$52,445,484$6,120,664$2,805,308$31,302,983
85$57,721,361$6,347,014$2,825,724$34,279,115
86$63,533,060$6,582,138$2,844,506$37,552,587
87$69,935,162$6,826,393$2,861,527$41,153,543
88$76,987,814$7,080,151$2,876,653$45,115,199
89$84,757,292$7,343,800$2,889,742$49,474,149
90$93,316,634$7,617,745$2,900,647$54,270,717
91$102,746,324$7,902,407$2,909,211$59,549,331
92$113,135,050$8,198,226$2,915,271$65,358,945
93$124,580,547$8,505,661$2,918,655$71,753,501
94$137,190,515$8,825,191$2,919,182$78,792,433
95$151,083,637$9,157,315$2,916,664$86,541,232
96$166,390,698$9,502,552$2,910,902$95,072,061
97$183,255,819$9,861,448$2,901,687$104,464,437
98$201,837,820$10,234,567$2,888,802$114,805,977
99$222,311,718$10,622,501$2,872,017$126,193,229
100$244,870,377$11,025,866$2,851,092$138,732,579