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

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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$135,430$134,223$133,046$131,898$130,776$127,459
2 years$67,044$65,796$64,586$63,412$62,274$58,954
3 years$44,252$42,998$41,791$40,629$39,509$36,290
4 years$32,858$31,608$30,413$29,271$28,178$25,084
5 years$26,024$24,781$23,602$22,483$21,421$18,461
6 years$21,469$20,236$19,074$17,980$16,950$14,126
7 years$18,217$16,994$15,850$14,782$13,784$11,098
8 years$15,779$14,567$13,442$12,400$11,436$8,885
9 years$13,884$12,683$11,578$10,562$9,630$7,214
10 years$12,368$11,180$10,094$9,105$8,206$5,920
11 years$11,129$9,953$8,887$7,924$7,057$4,899
12 years$10,098$8,933$7,887$6,950$6,116$4,081
13 years$9,225$8,073$7,046$6,136$5,333$3,418
14 years$8,478$7,338$6,331$5,447$4,675$2,875
15 years$7,831$6,703$5,716$4,858$4,116$2,427
16 years$7,266$6,150$5,182$4,350$3,638$2,055
17 years$6,767$5,664$4,716$3,908$3,225$1,744
18 years$6,325$5,234$4,305$3,522$2,868$1,484
19 years$5,929$4,851$3,941$3,182$2,556$1,264
20 years$5,574$4,507$3,617$2,882$2,283$1,079
21 years$5,253$4,199$3,327$2,616$2,043$922
22 years$4,961$3,919$3,066$2,378$1,832$788
23 years$4,695$3,666$2,831$2,166$1,644$675
24 years$4,452$3,434$2,618$1,976$1,478$578
25 years$4,228$3,223$2,425$1,804$1,330$495
26 years$4,022$3,029$2,249$1,650$1,198$425
27 years$3,832$2,851$2,088$1,510$1,080$365
28 years$3,655$2,686$1,941$1,383$974$313
29 years$3,491$2,534$1,807$1,269$880$269
30 years$3,338$2,393$1,683$1,164$795$231
31 years$3,196$2,262$1,569$1,069$719$198
32 years$3,062$2,141$1,464$983$650$171
33 years$2,937$2,027$1,367$904$588$147
34 years$2,819$1,921$1,277$831$533$126
35 years$2,709$1,822$1,194$765$483$108
36 years$2,605$1,730$1,117$705$437$93
37 years$2,506$1,643$1,045$650$396$80
38 years$2,413$1,561$979$599$359$69
39 years$2,325$1,485$917$552$326$59
40 years$2,242$1,412$860$509$295$51
41 years$2,163$1,345$806$470$268$44
42 years$2,088$1,281$756$434$243$38
43 years$2,017$1,220$710$400$221$32
44 years$1,949$1,163$666$370$200$28
45 years$1,884$1,109$625$341$182$24
46 years$1,822$1,058$587$315$165$21
47 years$1,763$1,010$552$291$150$18
48 years$1,707$964$519$269$136$15
49 years$1,653$920$487$249$124$13
50 years$1,601$879$458$230$112$11

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 $4,372 every year, while hoping to spend $40,063 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: 54/33/13 Blend
46$1,640,000$1,640,000$1,640,000$1,640,000
47$1,811,790$1,724,870$1,699,450$1,903,247
48$1,953,966$1,766,762$1,713,755$2,007,840
49$2,109,301$1,809,363$1,727,196$2,116,932
50$2,279,095$1,852,668$1,739,702$2,234,748
51$2,464,779$1,896,665$1,751,199$2,362,129
52$2,667,930$1,941,345$1,761,608$2,499,996
53$2,890,282$1,986,694$1,770,845$2,649,368
54$3,133,746$2,032,697$1,778,823$2,811,364
55$3,400,425$2,079,337$1,785,451$2,987,218
56$3,692,638$2,126,594$1,790,633$3,178,289
57$4,012,936$2,174,446$1,794,268$3,386,075
58$4,364,129$2,222,867$1,796,250$3,612,225
59$4,749,312$2,271,830$1,796,466$3,858,558
60$5,171,896$2,321,304$1,794,802$4,127,074
61$5,635,635$2,371,253$1,791,133$4,419,981
62$6,144,666$2,421,641$1,785,333$4,739,711
63$6,703,546$2,472,424$1,777,265$5,088,941
64$7,317,292$2,523,558$1,766,788$5,470,625
65$7,991,436$2,574,993$1,753,755$5,888,015
66$8,732,067$2,626,672$1,738,011$6,344,696
67$9,545,896$2,678,537$1,719,393$6,844,620
68$10,440,316$2,730,523$1,697,730$7,392,139
69$11,423,469$2,782,560$1,672,845$7,992,053
70$12,504,328$2,834,571$1,644,551$8,649,649
71$13,692,779$2,886,474$1,612,652$9,370,754
72$14,999,711$2,938,180$1,576,945$10,161,792
73$16,437,124$2,989,593$1,537,215$11,029,841
74$18,018,237$3,040,610$1,493,238$11,982,702
75$19,757,616$3,091,119$1,444,781$13,028,974
76$21,671,310$3,141,001$1,391,598$14,178,132
77$23,777,001$3,190,127$1,333,434$15,440,620
78$26,094,172$3,238,360$1,270,021$16,827,948
79$28,644,290$3,285,551$1,201,078$18,352,803
80$31,451,007$3,331,544$1,126,315$20,029,166
81$34,540,388$3,376,167$1,045,424$21,872,448
82$37,941,148$3,419,240$958,086$23,899,631
83$41,684,932$3,460,570$863,969$26,129,436
84$45,806,606$3,499,948$762,723$28,582,491
85$50,344,590$3,537,156$653,984$31,281,535
86$55,341,218$3,571,957$537,373$34,251,628
87$60,843,139$3,604,099$412,491$37,520,389
88$66,901,754$3,633,315$278,925$41,118,259
89$73,573,707$3,659,321$136,242$45,078,787
90$80,921,409$3,681,812$0$49,438,950
91$89,013,637$3,700,465$0$54,241,722
92$97,926,177$3,714,937$0$59,550,107
93$107,742,541$3,724,863$0$65,394,756
94$118,554,752$3,729,853$0$71,830,295
95$130,464,217$3,729,496$0$78,916,927
96$143,582,679$3,723,353$0$86,720,996
97$158,033,274$3,710,959$0$95,315,616
98$173,951,692$3,691,820$0$104,781,363
99$191,487,458$3,665,413$0$115,207,033
100$210,805,342$3,631,182$0$126,690,486