Can I retire at age 47 with 1,600,000?

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 $1,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$132,127$130,950$129,801$128,681$127,586$125,369
2 years$65,409$64,191$63,010$61,866$60,755$58,529
3 years$43,173$41,950$40,772$39,638$38,546$36,379
4 years$32,057$30,837$29,671$28,557$27,491$25,401
5 years$25,389$24,177$23,026$21,934$20,898$18,891
6 years$20,945$19,742$18,609$17,541$16,536$14,614
7 years$17,773$16,579$15,464$14,422$13,448$11,612
8 years$15,394$14,212$13,115$12,098$11,157$9,405
9 years$13,545$12,374$11,296$10,305$9,396$7,728
10 years$12,067$10,907$9,848$8,883$8,005$6,420
11 years$10,858$9,710$8,670$7,731$6,885$5,381
12 years$9,851$8,715$7,694$6,781$5,966$4,541
13 years$9,000$7,876$6,874$5,986$5,203$3,854
14 years$8,271$7,159$6,177$5,314$4,561$3,286
15 years$7,640$6,540$5,577$4,739$4,016$2,813
16 years$7,089$6,000$5,056$4,243$3,549$2,416
17 years$6,602$5,526$4,601$3,813$3,147$2,080
18 years$6,171$5,106$4,200$3,436$2,798$1,796
19 years$5,785$4,732$3,845$3,105$2,494$1,553
20 years$5,438$4,398$3,529$2,812$2,228$1,345
21 years$5,124$4,096$3,246$2,552$1,993$1,167
22 years$4,840$3,824$2,991$2,320$1,787$1,014
23 years$4,581$3,576$2,762$2,113$1,604$881
24 years$4,343$3,351$2,554$1,927$1,442$767
25 years$4,125$3,144$2,366$1,760$1,297$668
26 years$3,924$2,955$2,194$1,609$1,169$582
27 years$3,738$2,781$2,038$1,473$1,054$508
28 years$3,566$2,621$1,894$1,350$951$443
29 years$3,406$2,472$1,763$1,238$858$387
30 years$3,257$2,335$1,642$1,136$776$338
31 years$3,118$2,207$1,531$1,043$701$295
32 years$2,987$2,088$1,428$959$634$258
33 years$2,865$1,978$1,333$882$574$225
34 years$2,751$1,875$1,246$811$520$197
35 years$2,643$1,778$1,165$747$471$172
36 years$2,541$1,688$1,090$688$427$151
37 years$2,445$1,603$1,020$634$387$132
38 years$2,355$1,523$955$584$350$115
39 years$2,269$1,448$895$539$318$101
40 years$2,187$1,378$839$497$288$88
41 years$2,110$1,312$786$458$262$77
42 years$2,037$1,249$738$423$237$68
43 years$1,967$1,190$692$390$215$59
44 years$1,901$1,135$650$361$195$52
45 years$1,838$1,082$610$333$177$45
46 years$1,778$1,032$573$308$161$40
47 years$1,720$985$538$284$146$35
48 years$1,665$940$506$263$133$30
49 years$1,612$898$476$243$121$27
50 years$1,562$858$447$224$110$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,600,000, adding $3,361 every year, while hoping to spend $46,537 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: 53/26/21 Blend
46$1,600,000$1,600,000$1,600,000$1,600,000
47$1,766,667$1,681,867$1,657,067$1,849,937
48$1,897,352$1,714,763$1,663,064$1,940,451
49$2,039,807$1,747,712$1,667,702$2,033,761
50$2,195,184$1,780,666$1,670,886$2,134,309
51$2,364,749$1,813,576$1,672,517$2,242,797
52$2,549,899$1,846,386$1,672,492$2,360,005
53$2,752,168$1,879,038$1,670,700$2,486,790
54$2,973,247$1,911,469$1,667,026$2,624,096
55$3,214,998$1,943,611$1,661,351$2,772,965
56$3,479,469$1,975,389$1,653,547$2,934,549
57$3,768,917$2,006,725$1,643,484$3,110,114
58$4,085,827$2,037,535$1,631,021$3,301,059
59$4,432,935$2,067,728$1,616,014$3,508,926
60$4,813,254$2,097,207$1,598,310$3,735,415
61$5,230,103$2,125,867$1,577,750$3,982,401
62$5,687,136$2,153,597$1,554,167$4,251,953
63$6,188,379$2,180,278$1,527,387$4,546,351
64$6,738,264$2,205,782$1,497,225$4,868,111
65$7,341,677$2,229,975$1,463,492$5,220,006
66$8,003,994$2,252,711$1,425,985$5,605,095
67$8,731,143$2,273,834$1,384,497$6,026,752
68$9,529,648$2,293,182$1,338,807$6,488,695
69$10,406,702$2,310,577$1,288,686$6,995,027
70$11,370,223$2,325,832$1,233,894$7,550,271
71$12,428,937$2,338,750$1,174,182$8,159,415
72$13,592,457$2,349,117$1,109,285$8,827,958
73$14,871,373$2,356,709$1,038,932$9,561,966
74$16,277,352$2,361,287$962,834$10,368,125
75$17,823,247$2,362,595$880,695$11,253,808
76$19,523,220$2,360,364$792,200$12,227,145
77$21,392,874$2,354,306$697,023$13,297,101
78$23,449,398$2,344,118$594,824$14,473,558
79$25,711,732$2,329,476$485,247$15,767,413
80$28,200,745$2,310,037$367,920$17,190,681
81$30,939,430$2,285,438$242,454$18,756,609
82$33,953,121$2,255,293$108,444$20,479,799
83$37,269,730$2,219,193$0$22,376,352
84$40,920,016$2,176,707$0$24,471,764
85$44,937,867$2,127,375$0$26,804,293
86$49,360,625$2,070,712$0$29,371,291
87$54,229,436$2,006,204$0$32,196,649
88$59,589,637$1,933,307$0$35,306,698
89$65,491,186$1,851,445$0$38,730,457
90$71,989,131$1,760,009$0$42,499,912
91$79,144,128$1,658,356$0$46,650,313
92$87,023,016$1,545,802$0$51,220,510
93$95,699,445$1,421,628$0$56,253,324
94$105,254,573$1,285,072$0$61,795,946
95$115,777,828$1,135,329$0$67,900,388
96$127,367,754$971,549$0$74,623,971
97$140,132,942$792,831$0$82,029,873
98$154,193,050$598,228$0$90,187,723
99$169,679,935$386,734$0$99,174,257
100$186,738,896$157,293$0$109,074,050