Can I retire at age 47 with 1,720,000?

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 $1,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$142,036$140,771$139,536$138,332$137,155$134,057
2 years$70,315$69,005$67,736$66,506$65,312$62,208
3 years$46,411$45,096$43,830$42,611$41,437$38,423
4 years$34,461$33,150$31,897$30,699$29,553$26,652
5 years$27,293$25,990$24,753$23,580$22,466$19,687
6 years$22,516$21,223$20,004$18,857$17,776$15,122
7 years$19,106$17,823$16,624$15,503$14,457$11,928
8 years$16,549$15,278$14,098$13,005$11,993$9,589
9 years$14,561$13,302$12,143$11,078$10,100$7,818
10 years$12,972$11,725$10,586$9,549$8,606$6,443
11 years$11,672$10,438$9,320$8,310$7,401$5,356
12 years$10,590$9,369$8,271$7,289$6,414$4,482
13 years$9,675$8,466$7,390$6,435$5,593$3,771
14 years$8,892$7,696$6,640$5,713$4,903$3,188
15 years$8,213$7,030$5,995$5,095$4,317$2,704
16 years$7,620$6,450$5,435$4,562$3,815$2,301
17 years$7,098$5,940$4,946$4,099$3,383$1,963
18 years$6,633$5,489$4,515$3,694$3,008$1,678
19 years$6,219$5,087$4,133$3,338$2,681$1,438
20 years$5,846$4,727$3,793$3,023$2,395$1,233
21 years$5,509$4,403$3,489$2,743$2,143$1,059
22 years$5,203$4,110$3,216$2,494$1,921$911
23 years$4,924$3,844$2,969$2,272$1,724$784
24 years$4,669$3,602$2,746$2,072$1,550$675
25 years$4,434$3,380$2,543$1,892$1,395$582
26 years$4,218$3,177$2,359$1,730$1,256$502
27 years$4,019$2,990$2,190$1,584$1,133$433
28 years$3,834$2,817$2,036$1,451$1,022$374
29 years$3,661$2,658$1,895$1,331$923$323
30 years$3,501$2,510$1,765$1,221$834$279
31 years$3,352$2,373$1,645$1,121$754$241
32 years$3,212$2,245$1,535$1,031$682$209
33 years$3,080$2,126$1,433$948$617$180
34 years$2,957$2,015$1,339$872$559$156
35 years$2,841$1,911$1,252$803$506$135
36 years$2,732$1,814$1,171$739$459$117
37 years$2,629$1,723$1,096$681$416$101
38 years$2,531$1,637$1,027$628$377$87
39 years$2,439$1,557$962$579$342$76
40 years$2,352$1,481$902$534$310$65
41 years$2,269$1,410$845$493$281$57
42 years$2,190$1,343$793$455$255$49
43 years$2,115$1,280$744$420$232$42
44 years$2,044$1,220$699$388$210$37
45 years$1,976$1,163$656$358$191$32
46 years$1,911$1,110$616$331$173$28
47 years$1,849$1,059$579$305$157$24
48 years$1,790$1,011$544$282$143$21
49 years$1,733$965$511$261$130$18
50 years$1,679$922$481$241$118$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,720,000, adding $6,060 every year, while hoping to spend $32,879 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: 39/31/30 Blend
46$1,720,000$1,720,000$1,720,000$1,720,000
47$1,901,691$1,810,531$1,783,871$1,958,758
48$2,060,680$1,864,264$1,808,648$2,054,925
49$2,234,785$1,919,528$1,833,152$2,155,392
50$2,425,511$1,976,363$1,857,341$2,263,419
51$2,634,519$2,034,811$1,881,168$2,379,716
52$2,863,637$2,094,913$1,904,584$2,505,070
53$3,114,877$2,156,713$1,927,536$2,640,342
54$3,390,456$2,220,254$1,949,971$2,786,483
55$3,692,817$2,285,581$1,971,830$2,944,539
56$4,024,650$2,352,740$1,993,052$3,115,663
57$4,388,918$2,421,778$2,013,572$3,301,122
58$4,788,884$2,492,741$2,033,323$3,502,315
59$5,228,144$2,565,680$2,052,234$3,720,780
60$5,710,659$2,640,642$2,070,227$3,958,212
61$6,240,792$2,717,678$2,087,225$4,216,478
62$6,823,348$2,796,841$2,103,143$4,497,634
63$7,463,625$2,878,181$2,117,893$4,803,947
64$8,167,454$2,961,752$2,131,383$5,137,912
65$8,941,265$3,047,608$2,143,514$5,502,279
66$9,792,137$3,135,803$2,154,185$5,900,077
67$10,727,872$3,226,395$2,163,288$6,334,644
68$11,757,066$3,319,439$2,170,709$6,809,658
69$12,889,189$3,414,994$2,176,329$7,329,171
70$14,134,674$3,513,117$2,180,024$7,897,647
71$15,505,019$3,613,867$2,181,663$8,520,007
72$17,012,890$3,717,306$2,181,108$9,201,671
73$18,672,244$3,823,493$2,178,215$9,948,613
74$20,498,460$3,932,491$2,172,832$10,767,416
75$22,508,481$4,044,362$2,164,800$11,665,332
76$24,720,979$4,159,169$2,153,954$12,650,356
77$27,156,526$4,276,974$2,140,118$13,731,296
78$29,837,789$4,397,844$2,123,110$14,917,857
79$32,789,748$4,521,842$2,102,737$16,220,738
80$36,039,923$4,649,034$2,078,801$17,651,726
81$39,618,644$4,779,485$2,051,089$19,223,812
82$43,559,328$4,913,262$2,019,383$20,951,311
83$47,898,799$5,050,431$1,983,451$22,849,999
84$52,677,632$5,191,058$1,943,053$24,937,264
85$57,940,541$5,335,211$1,897,936$27,232,264
86$63,736,795$5,482,955$1,847,836$29,756,115
87$70,120,687$5,634,358$1,792,476$32,532,087
88$77,152,041$5,789,486$1,731,569$35,585,824
89$84,896,783$5,948,405$1,664,810$38,945,588
90$93,427,559$6,111,181$1,591,885$42,642,523
91$102,824,421$6,277,879$1,512,464$46,710,954
92$113,175,580$6,448,564$1,426,200$51,188,706
93$124,578,244$6,623,298$1,332,733$56,117,466
94$137,139,531$6,802,146$1,231,685$61,543,175
95$150,977,480$6,985,168$1,122,663$67,516,461
96$166,222,166$7,172,424$1,005,255$74,093,121
97$183,016,926$7,363,972$879,031$81,334,645
98$201,519,715$7,559,869$743,541$89,308,796
99$221,904,594$7,760,170$598,317$98,090,256
100$244,363,370$7,964,927$442,869$107,761,326