Can I retire at age 47 with 1,740,000?

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 $1,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$143,688$142,408$141,159$139,940$138,750$136,620
2 years$71,132$69,808$68,524$67,279$66,071$63,931
3 years$46,951$45,620$44,339$43,106$41,918$39,834
4 years$34,862$33,536$32,268$31,056$29,897$27,884
5 years$27,611$26,292$25,041$23,854$22,727$20,792
6 years$22,778$21,470$20,237$19,076$17,983$16,128
7 years$19,328$18,030$16,817$15,683$14,625$12,850
8 years$16,741$15,455$14,262$13,156$12,133$10,438
9 years$14,730$13,457$12,284$11,206$10,218$8,603
10 years$13,122$11,861$10,709$9,660$8,706$7,169
11 years$11,808$10,559$9,428$8,407$7,487$6,027
12 years$10,713$9,478$8,367$7,374$6,488$5,103
13 years$9,788$8,565$7,476$6,510$5,658$4,345
14 years$8,995$7,785$6,717$5,779$4,960$3,718
15 years$8,309$7,112$6,065$5,154$4,367$3,193
16 years$7,709$6,525$5,498$4,615$3,860$2,752
17 years$7,180$6,009$5,003$4,146$3,422$2,378
18 years$6,711$5,553$4,567$3,737$3,043$2,060
19 years$6,291$5,146$4,181$3,376$2,712$1,788
20 years$5,914$4,782$3,837$3,058$2,423$1,555
21 years$5,573$4,455$3,530$2,775$2,168$1,354
22 years$5,263$4,158$3,253$2,523$1,943$1,181
23 years$4,981$3,889$3,004$2,298$1,744$1,030
24 years$4,723$3,644$2,778$2,096$1,568$900
25 years$4,486$3,419$2,573$1,914$1,411$787
26 years$4,267$3,214$2,386$1,750$1,271$689
27 years$4,065$3,025$2,216$1,602$1,146$603
28 years$3,878$2,850$2,060$1,468$1,034$528
29 years$3,704$2,689$1,917$1,346$934$463
30 years$3,542$2,539$1,786$1,235$843$406
31 years$3,391$2,400$1,665$1,135$763$356
32 years$3,249$2,271$1,553$1,043$690$313
33 years$3,116$2,151$1,450$959$624$274
34 years$2,991$2,039$1,355$882$565$241
35 years$2,874$1,934$1,267$812$512$212
36 years$2,764$1,835$1,185$748$464$186
37 years$2,659$1,743$1,109$689$420$163
38 years$2,561$1,656$1,039$635$381$143
39 years$2,467$1,575$973$586$346$126
40 years$2,379$1,499$912$540$313$111
41 years$2,295$1,427$855$498$284$97
42 years$2,215$1,359$802$460$258$86
43 years$2,139$1,294$753$425$234$75
44 years$2,067$1,234$707$392$213$66
45 years$1,999$1,177$664$362$193$58
46 years$1,933$1,122$623$334$175$51
47 years$1,871$1,071$585$309$159$45
48 years$1,811$1,023$550$286$145$40
49 years$1,754$977$517$264$131$35
50 years$1,699$933$486$244$119$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,740,000, adding $2,718 every year, while hoping to spend $41,719 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: 68/12/20 Blend
46$1,740,000$1,740,000$1,740,000$1,740,000
47$1,920,284$1,828,064$1,801,094$2,041,157
48$2,071,764$1,873,250$1,817,042$2,167,521
49$2,237,297$1,919,252$1,832,126$2,300,588
50$2,418,272$1,966,066$1,846,272$2,445,139
51$2,616,219$2,013,687$1,859,406$2,602,304
52$2,832,821$2,062,106$1,871,444$2,773,326
53$3,069,935$2,111,315$1,882,303$2,959,578
54$3,329,601$2,161,302$1,891,893$3,162,570
55$3,614,069$2,212,054$1,900,120$3,383,966
56$3,925,815$2,263,556$1,906,885$3,625,600
57$4,267,567$2,315,790$1,912,085$3,889,492
58$4,642,330$2,368,734$1,915,611$4,177,869
59$5,053,412$2,422,366$1,917,348$4,493,184
60$5,504,457$2,476,660$1,917,177$4,838,140
61$5,999,481$2,531,585$1,914,971$5,215,715
62$6,542,904$2,587,109$1,910,599$5,629,191
63$7,139,598$2,643,195$1,903,921$6,082,187
64$7,794,928$2,699,802$1,894,794$6,578,686
65$8,514,805$2,756,887$1,883,064$7,123,083
66$9,305,741$2,814,400$1,868,572$7,720,217
67$10,174,909$2,872,288$1,851,151$8,375,423
68$11,130,211$2,930,491$1,830,626$9,094,579
69$12,180,354$2,988,947$1,806,814$9,884,163
70$13,334,929$3,047,585$1,779,522$10,751,316
71$14,604,505$3,106,330$1,748,549$11,703,905
72$16,000,725$3,165,100$1,713,685$12,750,601
73$17,536,415$3,223,806$1,674,710$13,900,961
74$19,225,710$3,282,353$1,631,393$15,165,516
75$21,084,181$3,340,637$1,583,493$16,555,872
76$23,128,985$3,398,546$1,530,758$18,084,821
77$25,379,028$3,455,961$1,472,925$19,766,459
78$27,855,138$3,512,752$1,409,717$21,616,322
79$30,580,265$3,568,781$1,340,846$23,651,532
80$33,579,699$3,623,897$1,266,011$25,890,957
81$36,881,303$3,677,943$1,184,897$28,355,392
82$40,515,779$3,730,745$1,097,174$31,067,757
83$44,516,958$3,782,122$1,002,499$34,053,307
84$48,922,118$3,831,875$900,513$37,339,879
85$53,772,333$3,879,796$790,839$40,958,149
86$59,112,865$3,925,660$673,086$44,941,925
87$64,993,588$3,969,228$546,845$49,328,466
88$71,469,457$4,010,244$411,688$54,158,834
89$78,601,031$4,048,435$267,169$59,478,281
90$86,455,038$4,083,511$112,821$65,336,680
91$95,105,010$4,115,161$0$71,788,994
92$104,631,974$4,143,056$0$78,906,867
93$115,125,215$4,166,846$0$86,772,394
94$126,683,121$4,186,155$0$95,435,153
95$139,414,110$4,200,587$0$104,976,337
96$153,437,653$4,209,720$0$115,485,419
97$168,885,402$4,213,105$0$127,060,997
98$185,902,430$4,210,264$0$139,811,723
99$204,648,602$4,200,691$0$153,857,327
100$225,300,084$4,183,850$0$169,329,753