Can I retire at age 47 with 1,640,000?

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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$135,430$134,223$133,046$131,898$130,776$128,981
2 years$67,044$65,796$64,586$63,412$62,274$60,469
3 years$44,252$42,998$41,791$40,629$39,509$37,750
4 years$32,858$31,608$30,413$29,271$28,178$26,479
5 years$26,024$24,781$23,602$22,483$21,421$19,786
6 years$21,469$20,236$19,074$17,980$16,950$15,381
7 years$18,217$16,994$15,850$14,782$13,784$12,282
8 years$15,779$14,567$13,442$12,400$11,436$10,000
9 years$13,884$12,683$11,578$10,562$9,630$8,261
10 years$12,368$11,180$10,094$9,105$8,206$6,901
11 years$11,129$9,953$8,887$7,924$7,057$5,816
12 years$10,098$8,933$7,887$6,950$6,116$4,937
13 years$9,225$8,073$7,046$6,136$5,333$4,215
14 years$8,478$7,338$6,331$5,447$4,675$3,616
15 years$7,831$6,703$5,716$4,858$4,116$3,114
16 years$7,266$6,150$5,182$4,350$3,638$2,692
17 years$6,767$5,664$4,716$3,908$3,225$2,333
18 years$6,325$5,234$4,305$3,522$2,868$2,026
19 years$5,929$4,851$3,941$3,182$2,556$1,764
20 years$5,574$4,507$3,617$2,882$2,283$1,538
21 years$5,253$4,199$3,327$2,616$2,043$1,344
22 years$4,961$3,919$3,066$2,378$1,832$1,175
23 years$4,695$3,666$2,831$2,166$1,644$1,029
24 years$4,452$3,434$2,618$1,976$1,478$902
25 years$4,228$3,223$2,425$1,804$1,330$791
26 years$4,022$3,029$2,249$1,650$1,198$694
27 years$3,832$2,851$2,088$1,510$1,080$610
28 years$3,655$2,686$1,941$1,383$974$536
29 years$3,491$2,534$1,807$1,269$880$472
30 years$3,338$2,393$1,683$1,164$795$415
31 years$3,196$2,262$1,569$1,069$719$365
32 years$3,062$2,141$1,464$983$650$321
33 years$2,937$2,027$1,367$904$588$283
34 years$2,819$1,921$1,277$831$533$249
35 years$2,709$1,822$1,194$765$483$220
36 years$2,605$1,730$1,117$705$437$194
37 years$2,506$1,643$1,045$650$396$171
38 years$2,413$1,561$979$599$359$150
39 years$2,325$1,485$917$552$326$133
40 years$2,242$1,412$860$509$295$117
41 years$2,163$1,345$806$470$268$103
42 years$2,088$1,281$756$434$243$91
43 years$2,017$1,220$710$400$221$80
44 years$1,949$1,163$666$370$200$71
45 years$1,884$1,109$625$341$182$62
46 years$1,822$1,058$587$315$165$55
47 years$1,763$1,010$552$291$150$49
48 years$1,707$964$519$269$136$43
49 years$1,653$920$487$249$124$38
50 years$1,601$879$458$230$112$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,640,000, adding $4,567 every year, while hoping to spend $46,071 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: 64/10/26 Blend
46$1,640,000$1,640,000$1,640,000$1,640,000
47$1,811,991$1,725,071$1,699,651$1,915,262
48$1,947,795$1,760,580$1,707,570$2,021,134
49$2,095,907$1,796,285$1,714,210$2,131,246
50$2,257,533$1,832,147$1,719,480$2,250,541
51$2,434,002$1,868,123$1,723,284$2,379,927
52$2,626,777$1,904,168$1,725,520$2,520,403
53$2,837,467$1,940,230$1,726,084$2,673,070
54$3,067,843$1,976,257$1,724,863$2,839,144
55$3,319,859$2,012,189$1,721,741$3,019,962
56$3,595,661$2,047,963$1,716,596$3,217,002
57$3,897,616$2,083,511$1,709,300$3,431,889
58$4,228,330$2,118,760$1,699,718$3,666,419
59$4,590,671$2,153,630$1,687,710$3,922,568
60$4,987,798$2,188,037$1,673,127$4,202,516
61$5,423,192$2,221,890$1,655,816$4,508,667
62$5,900,686$2,255,090$1,635,613$4,843,670
63$6,424,500$2,287,534$1,612,351$5,210,446
64$6,999,285$2,319,109$1,585,850$5,612,216
65$7,630,161$2,349,694$1,555,925$6,052,528
66$8,322,771$2,379,163$1,522,382$6,535,296
67$9,083,328$2,407,376$1,485,017$7,064,834
68$9,918,679$2,434,189$1,443,616$7,645,897
69$10,836,364$2,459,444$1,397,957$8,283,729
70$11,844,692$2,482,976$1,347,807$8,984,109
71$12,952,814$2,504,605$1,292,922$9,753,407
72$14,170,814$2,524,143$1,233,047$10,598,647
73$15,509,799$2,541,388$1,167,916$11,527,570
74$16,982,007$2,556,125$1,097,251$12,548,711
75$18,600,923$2,568,126$1,020,759$13,671,478
76$20,381,400$2,577,147$938,138$14,906,239
77$22,339,807$2,582,931$849,070$16,264,428
78$24,494,175$2,585,203$753,221$17,758,643
79$26,864,374$2,583,671$650,247$19,402,775
80$29,472,294$2,578,025$539,785$21,212,133
81$32,342,057$2,567,937$421,456$23,203,593
82$35,500,238$2,553,057$294,867$25,395,758
83$38,976,121$2,533,016$159,604$27,809,130
84$42,801,973$2,507,421$15,238$30,466,310
85$47,013,346$2,475,856$0$33,392,208
86$51,649,414$2,437,880$0$36,652,795
87$56,753,344$2,393,026$0$40,246,837
88$62,372,698$2,340,797$0$44,203,594
89$68,559,888$2,280,671$0$48,559,975
90$75,372,664$2,212,091$0$53,356,650
91$82,874,663$2,134,471$0$58,638,439
92$91,136,006$2,047,188$0$64,454,731
93$100,233,962$1,949,584$0$70,859,952
94$110,253,676$1,840,963$0$77,914,077
95$121,288,969$1,720,588$0$85,683,201
96$133,443,229$1,587,682$0$94,240,157
97$146,830,382$1,441,422$0$103,665,206
98$161,575,966$1,280,937$0$114,046,797
99$177,818,320$1,105,308$0$125,482,399
100$195,709,884$913,563$0$138,079,422