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%12.8%
1 years$143,688$142,408$141,159$139,940$138,750$137,130
2 years$71,132$69,808$68,524$67,279$66,071$64,441
3 years$46,951$45,620$44,339$43,106$41,918$40,328
4 years$34,862$33,536$32,268$31,056$29,897$28,358
5 years$27,611$26,292$25,041$23,854$22,727$21,245
6 years$22,778$21,470$20,237$19,076$17,983$16,560
7 years$19,328$18,030$16,817$15,683$14,625$13,261
8 years$16,741$15,455$14,262$13,156$12,133$10,828
9 years$14,730$13,457$12,284$11,206$10,218$8,971
10 years$13,122$11,861$10,709$9,660$8,706$7,517
11 years$11,808$10,559$9,428$8,407$7,487$6,355
12 years$10,713$9,478$8,367$7,374$6,488$5,412
13 years$9,788$8,565$7,476$6,510$5,658$4,636
14 years$8,995$7,785$6,717$5,779$4,960$3,990
15 years$8,309$7,112$6,065$5,154$4,367$3,448
16 years$7,709$6,525$5,498$4,615$3,860$2,990
17 years$7,180$6,009$5,003$4,146$3,422$2,601
18 years$6,711$5,553$4,567$3,737$3,043$2,267
19 years$6,291$5,146$4,181$3,376$2,712$1,981
20 years$5,914$4,782$3,837$3,058$2,423$1,734
21 years$5,573$4,455$3,530$2,775$2,168$1,520
22 years$5,263$4,158$3,253$2,523$1,943$1,335
23 years$4,981$3,889$3,004$2,298$1,744$1,173
24 years$4,723$3,644$2,778$2,096$1,568$1,032
25 years$4,486$3,419$2,573$1,914$1,411$909
26 years$4,267$3,214$2,386$1,750$1,271$801
27 years$4,065$3,025$2,216$1,602$1,146$707
28 years$3,878$2,850$2,060$1,468$1,034$624
29 years$3,704$2,689$1,917$1,346$934$551
30 years$3,542$2,539$1,786$1,235$843$486
31 years$3,391$2,400$1,665$1,135$763$430
32 years$3,249$2,271$1,553$1,043$690$380
33 years$3,116$2,151$1,450$959$624$336
34 years$2,991$2,039$1,355$882$565$297
35 years$2,874$1,934$1,267$812$512$263
36 years$2,764$1,835$1,185$748$464$233
37 years$2,659$1,743$1,109$689$420$206
38 years$2,561$1,656$1,039$635$381$182
39 years$2,467$1,575$973$586$346$162
40 years$2,379$1,499$912$540$313$143
41 years$2,295$1,427$855$498$284$127
42 years$2,215$1,359$802$460$258$112
43 years$2,139$1,294$753$425$234$99
44 years$2,067$1,234$707$392$213$88
45 years$1,999$1,177$664$362$193$78
46 years$1,933$1,122$623$334$175$69
47 years$1,871$1,071$585$309$159$61
48 years$1,811$1,023$550$286$145$54
49 years$1,754$977$517$264$131$48
50 years$1,699$933$486$244$119$43

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 $3,494 every year, while hoping to spend $50,496 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: 57/33/10 Blend
46$1,740,000$1,740,000$1,740,000$1,740,000
47$1,921,084$1,828,864$1,801,894$2,025,753
48$2,063,307$1,864,751$1,808,530$2,132,651
49$2,218,345$1,900,704$1,813,696$2,243,147
50$2,387,451$1,936,673$1,817,289$2,362,328
51$2,572,004$1,972,604$1,819,202$2,491,029
52$2,773,525$2,008,438$1,819,322$2,630,173
53$2,993,685$2,044,112$1,817,530$2,780,778
54$3,234,325$2,079,557$1,813,701$2,943,961
55$3,497,472$2,114,701$1,807,706$3,120,959
56$3,785,357$2,149,464$1,799,407$3,313,130
57$4,100,437$2,183,762$1,788,661$3,521,975
58$4,445,418$2,217,503$1,775,317$3,749,146
59$4,823,279$2,250,589$1,759,219$3,996,465
60$5,237,302$2,282,916$1,740,201$4,265,939
61$5,691,100$2,314,372$1,718,091$4,559,782
62$6,188,652$2,344,836$1,692,706$4,880,434
63$6,734,341$2,374,180$1,663,859$5,230,583
64$7,332,996$2,402,267$1,631,351$5,613,195
65$7,989,935$2,428,951$1,594,974$6,031,537
66$8,711,013$2,454,075$1,554,511$6,489,213
67$9,502,684$2,477,472$1,509,734$6,990,195
68$10,372,054$2,498,964$1,460,407$7,538,860
69$11,326,954$2,518,363$1,406,280$8,140,036
70$12,376,006$2,535,467$1,347,094$8,799,044
71$13,528,714$2,550,060$1,282,577$9,521,750
72$14,795,545$2,561,914$1,212,445$10,314,621
73$16,188,029$2,570,787$1,136,401$11,184,785
74$17,718,872$2,576,420$1,054,134$12,140,102
75$19,402,070$2,578,538$965,321$13,189,235
76$21,253,045$2,576,849$869,623$14,341,735
77$23,288,786$2,571,045$766,686$15,608,130
78$25,528,012$2,560,797$656,140$17,000,028
79$27,991,348$2,545,755$537,599$18,530,223
80$30,701,518$2,525,549$410,661$20,212,820
81$33,683,560$2,499,787$274,905$22,063,365
82$36,965,060$2,468,054$129,891$24,099,000
83$40,576,415$2,429,908$0$26,338,618
84$44,551,117$2,384,881$0$28,805,697
85$48,926,070$2,332,479$0$31,535,508
86$53,741,936$2,272,178$0$34,539,534
87$59,043,522$2,203,422$0$37,845,730
88$64,880,195$2,125,624$0$41,484,901
89$71,306,358$2,038,163$0$45,491,004
90$78,381,954$1,940,380$0$49,901,464
91$86,173,034$1,831,580$0$54,757,530
92$94,752,383$1,711,026$0$60,104,665
93$104,200,200$1,577,940$0$65,992,976
94$114,604,862$1,431,501$0$72,477,692
95$126,063,750$1,270,837$0$79,619,680
96$138,684,175$1,095,030$0$87,486,028
97$152,584,384$903,110$0$96,150,676
98$167,894,678$694,049$0$105,695,115
99$184,758,643$466,766$0$116,209,162
100$203,334,502$220,115$0$127,791,807