Can I retire at age 47 with 1,660,000?

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 $1,660,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$137,081$135,860$134,669$133,506$132,371$128,288
2 years$67,862$66,598$65,373$64,186$63,034$58,956
3 years$44,792$43,523$42,301$41,124$39,991$36,046
4 years$33,259$31,994$30,784$29,628$28,522$24,740
5 years$26,341$25,083$23,890$22,757$21,682$18,074
6 years$21,731$20,483$19,306$18,199$17,156$13,725
7 years$18,439$17,201$16,044$14,962$13,953$10,697
8 years$15,971$14,745$13,606$12,552$11,575$8,494
9 years$14,053$12,838$11,719$10,691$9,748$6,838
10 years$12,519$11,316$10,217$9,216$8,306$5,562
11 years$11,265$10,074$8,995$8,021$7,143$4,562
12 years$10,221$9,042$7,983$7,035$6,190$3,765
13 years$9,338$8,171$7,132$6,211$5,398$3,124
14 years$8,582$7,427$6,408$5,513$4,732$2,602
15 years$7,927$6,785$5,786$4,917$4,166$2,175
16 years$7,354$6,225$5,246$4,403$3,682$1,824
17 years$6,850$5,733$4,773$3,956$3,265$1,532
18 years$6,402$5,298$4,357$3,565$2,903$1,290
19 years$6,002$4,910$3,989$3,221$2,587$1,087
20 years$5,642$4,562$3,661$2,917$2,311$918
21 years$5,317$4,250$3,367$2,648$2,068$776
22 years$5,021$3,967$3,104$2,407$1,854$656
23 years$4,752$3,710$2,866$2,192$1,664$556
24 years$4,506$3,476$2,650$2,000$1,496$471
25 years$4,280$3,262$2,455$1,826$1,346$399
26 years$4,071$3,066$2,276$1,670$1,212$339
27 years$3,878$2,885$2,114$1,528$1,093$287
28 years$3,700$2,719$1,965$1,400$986$244
29 years$3,534$2,565$1,829$1,284$891$207
30 years$3,379$2,422$1,703$1,179$805$176
31 years$3,235$2,290$1,588$1,082$728$149
32 years$3,099$2,167$1,482$995$658$127
33 years$2,973$2,052$1,383$915$596$108
34 years$2,854$1,945$1,293$842$539$92
35 years$2,742$1,845$1,208$775$488$78
36 years$2,636$1,751$1,131$714$443$66
37 years$2,537$1,663$1,058$657$401$56
38 years$2,443$1,580$991$606$364$48
39 years$2,354$1,503$928$559$330$41
40 years$2,269$1,430$870$515$299$35
41 years$2,189$1,361$816$475$271$29
42 years$2,113$1,296$765$439$246$25
43 years$2,041$1,235$718$405$223$21
44 years$1,972$1,177$674$374$203$18
45 years$1,907$1,123$633$345$184$15
46 years$1,844$1,071$595$319$167$13
47 years$1,785$1,022$559$295$152$11
48 years$1,727$976$525$272$138$9
49 years$1,673$932$493$252$125$8
50 years$1,621$890$464$233$114$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,660,000, adding $5,783 every year, while hoping to spend $23,638 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: 39/41/20 Blend
46$1,660,000$1,660,000$1,660,000$1,660,000
47$1,835,285$1,747,305$1,721,575$1,895,720
48$1,997,334$1,807,772$1,754,097$2,000,165
49$2,175,119$1,870,410$1,786,917$2,110,350
50$2,370,221$1,935,300$1,820,018$2,229,006
51$2,584,380$2,002,527$1,853,386$2,356,914
52$2,819,514$2,072,178$1,887,002$2,494,933
53$3,077,736$2,144,346$1,920,847$2,644,005
54$3,361,370$2,219,124$1,954,901$2,805,167
55$3,672,981$2,296,612$1,989,141$2,979,559
56$4,015,392$2,376,913$2,023,544$3,168,434
57$4,391,713$2,460,133$2,058,084$3,373,169
58$4,805,372$2,546,384$2,092,734$3,595,278
59$5,260,144$2,635,781$2,127,465$3,836,430
60$5,760,188$2,728,444$2,162,244$4,098,455
61$6,310,087$2,824,497$2,197,039$4,383,371
62$6,914,891$2,924,072$2,231,815$4,693,397
63$7,580,161$3,027,303$2,266,532$5,030,972
64$8,312,027$3,134,331$2,301,150$5,398,785
65$9,117,242$3,245,301$2,335,628$5,799,791
66$10,003,247$3,360,367$2,369,917$6,237,244
67$10,978,240$3,479,687$2,403,971$6,714,726
68$12,051,255$3,603,426$2,437,738$7,236,179
69$13,232,243$3,731,754$2,471,163$7,805,944
70$14,532,173$3,864,851$2,504,188$8,428,799
71$15,963,128$4,002,902$2,536,751$9,110,004
72$17,538,424$4,146,101$2,568,789$9,855,353
73$19,272,732$4,294,649$2,600,233$10,671,224
74$21,182,219$4,448,755$2,631,009$11,564,639
75$23,284,700$4,608,639$2,661,043$12,543,333
76$25,599,803$4,774,526$2,690,251$13,615,824
77$28,149,159$4,946,654$2,718,551$14,791,492
78$30,956,602$5,125,268$2,745,851$16,080,668
79$34,048,395$5,310,626$2,772,057$17,494,730
80$37,453,479$5,502,995$2,797,068$19,046,210
81$41,203,745$5,702,652$2,820,780$20,748,913
82$45,334,332$5,909,887$2,843,082$22,618,044
83$49,883,966$6,125,003$2,863,857$24,670,350
84$54,895,316$6,348,314$2,882,982$26,924,281
85$60,415,404$6,580,148$2,900,328$29,400,161
86$66,496,046$6,820,845$2,915,759$32,120,376
87$73,194,338$7,070,763$2,929,133$35,109,591
88$80,573,201$7,330,270$2,940,299$38,394,975
89$88,701,968$7,599,754$2,949,100$42,006,461
90$97,657,045$7,879,618$2,955,371$45,977,024
91$107,522,624$8,170,280$2,958,936$50,342,995
92$118,391,486$8,472,178$2,959,615$55,144,398
93$130,365,872$8,785,769$2,957,216$60,425,332
94$143,558,445$9,111,526$2,951,538$66,234,381
95$158,093,362$9,449,946$2,942,370$72,625,073
96$174,107,437$9,801,546$2,929,491$79,656,386
97$191,751,437$10,166,863$2,912,670$87,393,300
98$211,191,504$10,546,459$2,891,665$95,907,412
99$232,610,722$10,940,921$2,866,221$105,277,607
100$256,210,848$11,350,858$2,836,071$115,590,803