Can I retire at age 47 with 1,590,000?

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 $1,590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$131,301$130,131$128,990$127,876$126,789$124,178
2 years$65,000$63,790$62,617$61,479$60,376$57,757
3 years$42,903$41,687$40,517$39,390$38,305$35,760
4 years$31,857$30,645$29,486$28,378$27,319$24,869
5 years$25,231$24,026$22,882$21,797$20,768$18,418
6 years$20,815$19,619$18,492$17,432$16,433$14,186
7 years$17,662$16,476$15,367$14,331$13,364$11,221
8 years$15,298$14,123$13,033$12,022$11,087$9,046
9 years$13,460$12,296$11,225$10,240$9,337$7,398
10 years$11,991$10,839$9,786$8,827$7,955$6,116
11 years$10,790$9,649$8,616$7,682$6,842$5,100
12 years$9,790$8,661$7,646$6,738$5,929$4,282
13 years$8,944$7,827$6,831$5,949$5,170$3,615
14 years$8,220$7,114$6,138$5,281$4,532$3,066
15 years$7,593$6,499$5,542$4,710$3,991$2,610
16 years$7,044$5,963$5,024$4,217$3,527$2,229
17 years$6,561$5,491$4,572$3,789$3,127$1,908
18 years$6,132$5,074$4,174$3,415$2,781$1,637
19 years$5,749$4,703$3,821$3,085$2,478$1,408
20 years$5,404$4,370$3,507$2,794$2,214$1,212
21 years$5,092$4,071$3,225$2,536$1,981$1,045
22 years$4,810$3,800$2,973$2,306$1,776$902
23 years$4,552$3,554$2,745$2,100$1,594$780
24 years$4,316$3,330$2,538$1,915$1,433$674
25 years$4,099$3,125$2,351$1,749$1,289$584
26 years$3,900$2,937$2,180$1,599$1,161$505
27 years$3,715$2,764$2,025$1,464$1,047$438
28 years$3,544$2,604$1,882$1,341$945$380
29 years$3,385$2,457$1,752$1,230$853$329
30 years$3,237$2,320$1,632$1,129$771$286
31 years$3,098$2,193$1,521$1,037$697$248
32 years$2,969$2,075$1,419$953$630$215
33 years$2,847$1,965$1,325$876$570$187
34 years$2,734$1,863$1,238$806$517$162
35 years$2,626$1,767$1,158$742$468$141
36 years$2,525$1,677$1,083$683$424$122
37 years$2,430$1,593$1,014$630$384$106
38 years$2,340$1,514$949$580$348$92
39 years$2,255$1,439$889$535$316$80
40 years$2,174$1,369$833$494$286$70
41 years$2,097$1,304$782$455$260$61
42 years$2,024$1,241$733$420$236$53
43 years$1,955$1,183$688$388$214$46
44 years$1,889$1,128$646$358$194$40
45 years$1,826$1,075$606$331$176$35
46 years$1,766$1,026$569$306$160$30
47 years$1,709$979$535$282$145$26
48 years$1,655$934$503$261$132$23
49 years$1,602$892$473$241$120$20
50 years$1,552$852$444$223$109$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,590,000, adding $2,596 every year, while hoping to spend $55,534 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: 47/29/24 Blend
46$1,590,000$1,590,000$1,590,000$1,590,000
47$1,754,858$1,670,588$1,645,943$1,825,192
48$1,874,766$1,693,359$1,641,994$1,897,580
49$2,005,043$1,715,384$1,636,052$1,970,413
50$2,146,688$1,736,569$1,627,991$2,048,357
51$2,300,801$1,756,812$1,617,679$2,131,918
52$2,468,591$1,776,004$1,604,979$2,221,654
53$2,651,388$1,794,029$1,589,747$2,318,185
54$2,850,657$1,810,764$1,571,831$2,422,194
55$3,068,009$1,826,076$1,551,073$2,534,436
56$3,305,219$1,839,827$1,527,307$2,655,747
57$3,564,239$1,851,866$1,500,359$2,787,050
58$3,847,218$1,862,035$1,470,048$2,929,364
59$4,156,523$1,870,163$1,436,183$3,083,817
60$4,494,760$1,876,072$1,398,566$3,251,653
61$4,864,795$1,879,570$1,356,989$3,434,251
62$5,269,790$1,880,454$1,311,233$3,633,128
63$5,713,220$1,878,508$1,261,071$3,849,966
64$6,198,916$1,873,503$1,206,265$4,086,619
65$6,731,096$1,865,195$1,146,565$4,345,136
66$7,314,405$1,853,327$1,081,712$4,627,779
67$7,953,959$1,837,624$1,011,434$4,937,050
68$8,655,392$1,817,797$935,447$5,275,706
69$9,424,910$1,793,537$853,452$5,646,795
70$10,269,350$1,764,519$765,141$6,053,682
71$11,196,239$1,730,397$670,190$6,500,082
72$12,213,873$1,690,804$568,259$6,990,094
73$13,331,388$1,645,352$458,995$7,528,246
74$14,558,848$1,593,633$342,029$8,119,535
75$15,907,339$1,535,210$216,976$8,769,474
76$17,389,077$1,469,625$83,434$9,484,152
77$19,017,517$1,396,390$0$10,270,285
78$20,807,482$1,314,991$0$11,150,415
79$22,775,304$1,224,885$0$12,141,378
80$24,938,976$1,125,495$0$13,230,929
81$27,318,321$1,016,214$0$14,429,150
82$29,935,180$896,399$0$15,747,155
83$32,813,616$765,370$0$17,197,202
84$35,980,141$622,409$0$18,792,802
85$39,463,967$466,759$0$20,548,853
86$43,297,280$297,618$0$22,481,782
87$47,515,542$114,141$0$24,609,697
88$52,157,828$0$0$26,952,565
89$57,267,192$0$0$29,559,382
90$62,891,072$0$0$32,469,015
91$69,081,742$0$0$35,672,110
92$75,896,796$0$0$39,198,494
93$83,399,701$0$0$43,081,037
94$91,660,387$0$0$47,355,954
95$100,755,912$0$0$52,063,153
96$110,771,184$0$0$57,246,609
97$121,799,767$0$0$62,954,777
98$133,944,757$0$0$69,241,052
99$147,319,761$0$0$76,164,272
100$162,049,963$0$0$83,789,269