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%18.7%
1 years$132,127$130,950$129,801$128,681$127,586$123,108
2 years$65,409$64,191$63,010$61,866$60,755$56,291
3 years$43,173$41,950$40,772$39,638$38,546$34,235
4 years$32,057$30,837$29,671$28,557$27,491$23,367
5 years$25,389$24,177$23,026$21,934$20,898$16,972
6 years$20,945$19,742$18,609$17,541$16,536$12,810
7 years$17,773$16,579$15,464$14,422$13,448$9,922
8 years$15,394$14,212$13,115$12,098$11,157$7,828
9 years$13,545$12,374$11,296$10,305$9,396$6,259
10 years$12,067$10,907$9,848$8,883$8,005$5,057
11 years$10,858$9,710$8,670$7,731$6,885$4,117
12 years$9,851$8,715$7,694$6,781$5,966$3,374
13 years$9,000$7,876$6,874$5,986$5,203$2,778
14 years$8,271$7,159$6,177$5,314$4,561$2,297
15 years$7,640$6,540$5,577$4,739$4,016$1,905
16 years$7,089$6,000$5,056$4,243$3,549$1,584
17 years$6,602$5,526$4,601$3,813$3,147$1,320
18 years$6,171$5,106$4,200$3,436$2,798$1,102
19 years$5,785$4,732$3,845$3,105$2,494$922
20 years$5,438$4,398$3,529$2,812$2,228$772
21 years$5,124$4,096$3,246$2,552$1,993$647
22 years$4,840$3,824$2,991$2,320$1,787$542
23 years$4,581$3,576$2,762$2,113$1,604$455
24 years$4,343$3,351$2,554$1,927$1,442$382
25 years$4,125$3,144$2,366$1,760$1,297$321
26 years$3,924$2,955$2,194$1,609$1,169$270
27 years$3,738$2,781$2,038$1,473$1,054$227
28 years$3,566$2,621$1,894$1,350$951$191
29 years$3,406$2,472$1,763$1,238$858$161
30 years$3,257$2,335$1,642$1,136$776$135
31 years$3,118$2,207$1,531$1,043$701$114
32 years$2,987$2,088$1,428$959$634$96
33 years$2,865$1,978$1,333$882$574$81
34 years$2,751$1,875$1,246$811$520$68
35 years$2,643$1,778$1,165$747$471$57
36 years$2,541$1,688$1,090$688$427$48
37 years$2,445$1,603$1,020$634$387$41
38 years$2,355$1,523$955$584$350$34
39 years$2,269$1,448$895$539$318$29
40 years$2,187$1,378$839$497$288$24
41 years$2,110$1,312$786$458$262$20
42 years$2,037$1,249$738$423$237$17
43 years$1,967$1,190$692$390$215$14
44 years$1,901$1,135$650$361$195$12
45 years$1,838$1,082$610$333$177$10
46 years$1,778$1,032$573$308$161$9
47 years$1,720$985$538$284$146$7
48 years$1,665$940$506$263$133$6
49 years$1,612$898$476$243$121$5
50 years$1,562$858$447$224$110$4

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 $2,719 every year, while hoping to spend $51,979 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: 77/12/11 Blend
46$1,600,000$1,600,000$1,600,000$1,600,000
47$1,766,005$1,681,205$1,656,405$1,898,217
48$1,890,832$1,708,278$1,656,589$2,012,687
49$2,026,649$1,734,937$1,655,037$2,131,266
50$2,174,523$1,761,104$1,651,637$2,259,809
51$2,335,627$1,786,700$1,646,269$2,399,286
52$2,511,251$1,811,639$1,638,809$2,550,770
53$2,702,816$1,835,827$1,629,127$2,715,439
54$2,911,887$1,859,166$1,617,086$2,894,592
55$3,140,184$1,881,550$1,602,543$3,089,661
56$3,389,604$1,902,867$1,585,349$3,302,222
57$3,662,231$1,922,995$1,565,346$3,534,014
58$3,960,363$1,941,807$1,542,370$3,786,950
59$4,286,530$1,959,164$1,516,249$4,063,140
60$4,643,515$1,974,922$1,486,802$4,364,908
61$5,034,384$1,988,925$1,453,841$4,694,815
62$5,462,516$2,001,006$1,417,169$5,055,683
63$5,931,627$2,010,990$1,376,578$5,450,622
64$6,445,814$2,018,689$1,331,854$5,883,059
65$7,009,586$2,023,904$1,282,771$6,356,770
66$7,627,911$2,026,423$1,229,091$6,875,919
67$8,306,261$2,026,021$1,170,569$7,445,090
68$9,050,662$2,022,458$1,106,946$8,069,340
69$9,867,753$2,015,482$1,037,951$8,754,238
70$10,764,846$2,004,823$963,305$9,505,923
71$11,749,995$1,990,194$882,711$10,331,161
72$12,832,075$1,971,293$795,861$11,237,410
73$14,020,859$1,947,800$702,435$12,232,885
74$15,327,116$1,919,372$602,097$13,326,645
75$16,762,710$1,885,649$494,495$14,528,670
76$18,340,710$1,846,249$379,264$15,849,960
77$20,075,514$1,800,767$256,021$17,302,641
78$21,982,986$1,748,773$124,367$18,900,072
79$24,080,602$1,689,815$0$20,656,980
80$26,387,619$1,623,412$0$22,591,489
81$28,925,252$1,549,055$0$24,735,291
82$31,716,875$1,466,206$0$27,093,542
83$34,788,243$1,374,297$0$29,688,024
84$38,167,733$1,272,726$0$32,542,738
85$41,886,609$1,160,858$0$35,684,135
86$45,979,323$1,038,019$0$39,141,364
87$50,483,833$903,501$0$42,946,542
88$55,441,963$756,551$0$47,135,066
89$60,899,798$596,378$0$51,745,941
90$66,908,120$422,142$0$56,822,151
91$73,522,882$232,961$0$62,411,063
92$80,805,738$27,898$0$68,564,875
93$88,824,627$0$0$75,341,112
94$97,654,409$0$0$82,828,786
95$107,377,573$0$0$91,078,181
96$118,085,015$0$0$100,162,741
97$129,876,898$0$0$110,167,455
98$142,863,589$0$0$121,185,976
99$157,166,709$0$0$133,321,502
100$172,920,275$0$0$146,687,749