Can I retire at age 47 with 1,170,000?

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 $1,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$96,618$95,757$94,917$94,098$93,297$91,414
2 years$47,830$46,940$46,076$45,239$44,427$42,538
3 years$31,570$30,676$29,814$28,985$28,187$26,350
4 years$23,442$22,550$21,697$20,882$20,103$18,334
5 years$18,566$17,679$16,838$16,040$15,282$13,585
6 years$15,316$14,436$13,608$12,827$12,092$10,469
7 years$12,996$12,124$11,308$10,546$9,834$8,286
8 years$11,257$10,392$9,590$8,847$8,158$6,684
9 years$9,905$9,048$8,260$7,535$6,870$5,469
10 years$8,824$7,976$7,201$6,496$5,854$4,524
11 years$7,940$7,100$6,340$5,653$5,035$3,775
12 years$7,204$6,373$5,626$4,958$4,363$3,172
13 years$6,581$5,759$5,027$4,378$3,805$2,679
14 years$6,048$5,235$4,517$3,886$3,335$2,274
15 years$5,587$4,782$4,078$3,466$2,936$1,937
16 years$5,184$4,388$3,697$3,103$2,595$1,655
17 years$4,828$4,041$3,364$2,788$2,301$1,418
18 years$4,512$3,734$3,071$2,513$2,046$1,218
19 years$4,230$3,461$2,812$2,270$1,824$1,048
20 years$3,976$3,216$2,580$2,056$1,629$903
21 years$3,747$2,995$2,373$1,866$1,458$779
22 years$3,539$2,796$2,187$1,697$1,307$673
23 years$3,350$2,615$2,020$1,545$1,173$582
24 years$3,176$2,450$1,868$1,409$1,054$504
25 years$3,016$2,299$1,730$1,287$949$436
26 years$2,869$2,161$1,605$1,177$855$378
27 years$2,734$2,034$1,490$1,077$770$328
28 years$2,608$1,916$1,385$987$695$285
29 years$2,491$1,808$1,289$905$628$247
30 years$2,382$1,707$1,201$831$567$214
31 years$2,280$1,614$1,119$763$513$186
32 years$2,185$1,527$1,044$701$464$162
33 years$2,095$1,446$975$645$420$141
34 years$2,011$1,371$911$593$380$122
35 years$1,933$1,300$852$546$344$106
36 years$1,858$1,234$797$503$312$92
37 years$1,788$1,172$746$463$283$80
38 years$1,722$1,114$698$427$256$70
39 years$1,659$1,059$654$394$232$61
40 years$1,600$1,008$613$363$211$53
41 years$1,543$959$575$335$191$46
42 years$1,490$914$539$309$174$40
43 years$1,439$870$506$286$157$35
44 years$1,390$830$475$264$143$30
45 years$1,344$791$446$243$130$26
46 years$1,300$755$419$225$118$23
47 years$1,258$720$394$208$107$20
48 years$1,218$688$370$192$97$17
49 years$1,179$657$348$177$88$15
50 years$1,142$627$327$164$80$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,170,000, adding $6,336 every year, while hoping to spend $34,199 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: 57/35/8 Blend
46$1,170,000$1,170,000$1,170,000$1,170,000
47$1,295,876$1,233,866$1,215,731$1,367,012
48$1,391,667$1,257,938$1,220,070$1,439,726
49$1,496,084$1,282,043$1,223,409$1,514,530
50$1,609,968$1,306,147$1,225,677$1,595,195
51$1,734,250$1,330,213$1,226,802$1,682,285
52$1,869,950$1,354,199$1,226,706$1,776,420
53$2,018,193$1,378,064$1,225,309$1,878,286
54$2,180,219$1,401,760$1,222,528$1,988,635
55$2,357,392$1,425,236$1,218,272$2,108,299
56$2,551,211$1,448,438$1,212,450$2,238,193
57$2,763,332$1,471,308$1,204,964$2,379,327
58$2,995,573$1,493,784$1,195,712$2,532,812
59$3,249,940$1,515,797$1,184,586$2,699,874
60$3,528,640$1,537,278$1,171,476$2,881,865
61$3,834,104$1,558,148$1,156,264$3,080,274
62$4,169,011$1,578,325$1,138,827$3,296,742
63$4,536,308$1,597,721$1,119,036$3,533,079
64$4,939,245$1,616,243$1,096,757$3,791,281
65$5,381,398$1,633,789$1,071,849$4,073,545
66$5,866,710$1,650,253$1,044,164$4,382,295
67$6,399,520$1,665,521$1,013,549$4,720,205
68$6,984,610$1,679,471$979,842$5,090,220
69$7,627,248$1,691,973$942,875$5,495,586
70$8,333,237$1,702,889$902,471$5,939,885
71$9,108,969$1,712,073$858,446$6,427,061
72$9,961,486$1,719,367$810,606$6,961,467
73$10,898,548$1,724,606$758,751$7,547,897
74$11,928,701$1,727,613$702,671$8,191,639
75$13,061,362$1,728,200$642,144$8,898,520
76$14,306,907$1,726,167$576,941$9,674,965
77$15,676,766$1,721,304$506,823$10,528,059
78$17,183,533$1,713,384$431,539$11,465,607
79$18,841,083$1,702,171$350,826$12,496,217
80$20,664,706$1,687,410$264,411$13,629,377
81$22,671,247$1,668,833$172,009$14,875,546
82$24,879,265$1,646,156$73,322$16,246,254
83$27,309,210$1,619,079$0$17,754,210
84$29,983,616$1,587,280$0$19,416,155
85$32,927,311$1,550,423$0$21,251,659
86$36,167,652$1,508,149$0$23,271,509
87$39,734,783$1,460,078$0$25,494,500
88$43,661,919$1,405,810$0$27,941,348
89$47,985,660$1,344,920$0$30,634,889
90$52,746,334$1,276,958$0$33,600,287
91$57,988,381$1,201,450$0$36,865,284
92$63,760,767$1,117,892$0$40,460,451
93$70,117,450$1,025,754$0$44,419,488
94$77,117,887$924,472$0$48,779,535
95$84,827,594$813,455$0$53,581,529
96$93,318,768$692,073$0$58,870,586
97$102,670,962$559,665$0$64,696,436
98$112,971,841$415,529$0$71,113,886
99$124,318,006$258,927$0$78,183,344
100$136,815,905$89,077$0$85,971,388