Can I retire at age 47 with 1,180,000?

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 $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$97,443$96,575$95,728$94,902$94,095$90,937
2 years$48,239$47,341$46,470$45,626$44,807$41,657
3 years$31,840$30,938$30,069$29,233$28,427$25,384
4 years$23,642$22,743$21,883$21,061$20,275$17,361
5 years$18,725$17,830$16,982$16,177$15,413$12,636
6 years$15,447$14,560$13,724$12,937$12,195$9,559
7 years$13,107$12,227$11,405$10,636$9,918$7,421
8 years$11,353$10,481$9,672$8,922$8,228$5,868
9 years$9,989$9,126$8,331$7,600$6,929$4,704
10 years$8,899$8,044$7,263$6,551$5,904$3,809
11 years$8,008$7,161$6,394$5,701$5,078$3,110
12 years$7,265$6,427$5,675$5,001$4,400$2,555
13 years$6,638$5,808$5,070$4,415$3,837$2,110
14 years$6,100$5,280$4,555$3,919$3,364$1,749
15 years$5,635$4,823$4,113$3,495$2,962$1,455
16 years$5,228$4,425$3,729$3,130$2,617$1,213
17 years$4,869$4,075$3,393$2,812$2,321$1,014
18 years$4,551$3,766$3,097$2,534$2,064$849
19 years$4,266$3,490$2,836$2,290$1,839$712
20 years$4,010$3,243$2,602$2,074$1,643$598
21 years$3,779$3,021$2,394$1,882$1,470$503
22 years$3,569$2,820$2,206$1,711$1,318$423
23 years$3,378$2,637$2,037$1,558$1,183$356
24 years$3,203$2,471$1,884$1,421$1,063$300
25 years$3,042$2,319$1,745$1,298$957$253
26 years$2,894$2,179$1,618$1,187$862$213
27 years$2,757$2,051$1,503$1,086$777$180
28 years$2,630$1,933$1,397$995$701$152
29 years$2,512$1,823$1,300$913$633$128
30 years$2,402$1,722$1,211$838$572$108
31 years$2,299$1,628$1,129$769$517$91
32 years$2,203$1,540$1,053$707$468$77
33 years$2,113$1,459$983$650$423$65
34 years$2,029$1,382$919$598$383$55
35 years$1,949$1,311$859$551$347$47
36 years$1,874$1,245$804$507$315$39
37 years$1,803$1,182$752$467$285$33
38 years$1,736$1,123$704$431$258$28
39 years$1,673$1,068$660$397$234$24
40 years$1,613$1,016$619$366$213$20
41 years$1,556$967$580$338$193$17
42 years$1,502$921$544$312$175$14
43 years$1,451$878$511$288$159$12
44 years$1,402$837$479$266$144$10
45 years$1,355$798$450$246$131$9
46 years$1,311$761$423$227$119$7
47 years$1,269$726$397$210$108$6
48 years$1,228$693$373$194$98$5
49 years$1,189$662$351$179$89$4
50 years$1,152$633$330$165$81$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,180,000, adding $3,092 every year, while hoping to spend $46,013 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: 51/29/20 Blend
46$1,180,000$1,180,000$1,180,000$1,180,000
47$1,303,549$1,241,009$1,222,719$1,362,652
48$1,387,554$1,252,861$1,214,723$1,415,620
49$1,478,585$1,263,752$1,204,917$1,468,179
50$1,577,310$1,273,585$1,193,191$1,524,349
51$1,684,465$1,282,260$1,179,432$1,584,486
52$1,800,856$1,289,667$1,163,519$1,648,988
53$1,927,374$1,295,691$1,145,327$1,718,293
54$2,064,996$1,300,209$1,124,725$1,792,887
55$2,214,797$1,303,092$1,101,575$1,873,306
56$2,377,962$1,304,199$1,075,734$1,960,143
57$2,555,794$1,303,384$1,047,051$2,054,055
58$2,749,726$1,300,491$1,015,368$2,155,768
59$2,961,336$1,295,353$980,520$2,266,085
60$3,192,360$1,287,794$942,336$2,385,891
61$3,444,712$1,277,627$900,636$2,516,169
62$3,720,496$1,264,654$855,230$2,658,002
63$4,022,030$1,248,664$805,923$2,812,587
64$4,351,863$1,229,436$752,509$2,981,249
65$4,712,807$1,206,732$694,771$3,165,451
66$5,107,955$1,180,303$632,487$3,366,808
67$5,540,712$1,149,884$565,422$3,587,106
68$6,014,831$1,115,194$493,329$3,828,319
69$6,534,442$1,075,937$415,954$4,092,624
70$7,104,096$1,031,799$333,029$4,382,428
71$7,728,803$982,446$244,275$4,700,390
72$8,414,083$927,528$149,401$5,049,443
73$9,166,015$866,673$48,102$5,432,830
74$9,991,296$799,487$0$5,854,128
75$10,897,302$725,556$0$6,330,093
76$11,892,157$644,438$0$6,864,068
77$12,984,813$555,671$0$7,450,667
78$14,185,128$458,764$0$8,095,281
79$15,503,965$353,197$0$8,803,856
80$16,953,291$238,425$0$9,582,951
81$18,546,287$113,868$0$10,439,799
82$20,297,477$0$0$11,382,375
83$22,222,861$0$0$12,426,204
84$24,340,069$0$0$13,614,117
85$26,668,522$0$0$14,920,691
86$29,229,618$0$0$16,357,951
87$32,046,935$0$0$17,939,144
88$35,146,450$0$0$19,678,869
89$38,556,782$0$0$21,593,209
90$42,309,468$0$0$23,699,885
91$46,439,255$0$0$26,018,423
92$50,984,429$0$0$28,570,338
93$55,987,173$0$0$31,379,337
94$61,493,971$0$0$34,471,540
95$67,556,040$0$0$37,875,731
96$74,229,815$0$0$41,623,625
97$81,577,481$0$0$45,750,167
98$89,667,561$0$0$50,293,866
99$98,575,557$0$0$55,297,154
100$108,384,669$0$0$60,806,786