Can I retire at age 47 with 1,190,000?

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$98,269$97,394$96,540$95,706$94,892$91,453
2 years$48,648$47,742$46,864$46,013$45,187$41,759
3 years$32,110$31,200$30,324$29,481$28,668$25,361
4 years$23,842$22,935$22,068$21,239$20,447$17,284
5 years$18,883$17,982$17,126$16,314$15,543$12,534
6 years$15,578$14,683$13,840$13,046$12,299$9,445
7 years$13,218$12,331$11,501$10,726$10,002$7,303
8 years$11,449$10,570$9,754$8,998$8,298$5,751
9 years$10,074$9,203$8,401$7,664$6,988$4,590
10 years$8,975$8,112$7,324$6,607$5,954$3,701
11 years$8,076$7,222$6,448$5,750$5,121$3,008
12 years$7,327$6,482$5,723$5,043$4,437$2,460
13 years$6,694$5,858$5,113$4,452$3,870$2,021
14 years$6,152$5,324$4,594$3,952$3,392$1,668
15 years$5,682$4,864$4,148$3,525$2,987$1,380
16 years$5,272$4,463$3,760$3,156$2,640$1,145
17 years$4,910$4,110$3,422$2,836$2,340$952
18 years$4,589$3,798$3,124$2,556$2,081$793
19 years$4,302$3,520$2,860$2,309$1,855$662
20 years$4,044$3,271$2,624$2,091$1,657$553
21 years$3,811$3,046$2,414$1,898$1,483$462
22 years$3,600$2,844$2,225$1,726$1,329$387
23 years$3,407$2,660$2,054$1,572$1,193$324
24 years$3,230$2,492$1,900$1,433$1,072$271
25 years$3,068$2,339$1,760$1,309$965$227
26 years$2,919$2,198$1,632$1,197$869$191
27 years$2,780$2,069$1,515$1,096$784$160
28 years$2,652$1,949$1,409$1,004$707$134
29 years$2,533$1,839$1,311$921$638$113
30 years$2,422$1,737$1,221$845$577$95
31 years$2,319$1,642$1,138$776$522$79
32 years$2,222$1,553$1,062$713$472$67
33 years$2,131$1,471$992$656$427$56
34 years$2,046$1,394$927$603$387$47
35 years$1,966$1,322$866$555$350$40
36 years$1,890$1,255$810$512$317$33
37 years$1,819$1,192$759$471$288$28
38 years$1,751$1,133$710$434$261$23
39 years$1,687$1,077$666$401$236$20
40 years$1,627$1,025$624$369$214$17
41 years$1,570$976$585$341$195$14
42 years$1,515$929$549$315$176$12
43 years$1,463$885$515$290$160$10
44 years$1,414$844$483$268$145$8
45 years$1,367$805$454$248$132$7
46 years$1,322$768$426$229$120$6
47 years$1,279$733$400$211$109$5
48 years$1,238$699$376$195$99$4
49 years$1,199$668$354$180$90$3
50 years$1,162$638$333$167$82$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,190,000, adding $3,684 every year, while hoping to spend $22,103 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: 63/26/11 Blend
46$1,190,000$1,190,000$1,190,000$1,190,000
47$1,315,180$1,252,110$1,233,665$1,394,520
48$1,425,811$1,289,946$1,251,475$1,485,875
49$1,546,985$1,328,895$1,269,142$1,582,693
50$1,679,756$1,368,989$1,286,636$1,687,855
51$1,825,280$1,410,259$1,303,927$1,802,172
52$1,984,835$1,452,738$1,320,985$1,926,536
53$2,159,826$1,496,460$1,337,776$2,061,926
54$2,351,801$1,541,459$1,354,264$2,209,424
55$2,562,465$1,587,771$1,370,412$2,370,219
56$2,793,697$1,635,431$1,386,181$2,545,619
57$3,047,564$1,684,478$1,401,529$2,737,068
58$3,326,347$1,734,949$1,416,411$2,946,152
59$3,632,556$1,786,882$1,430,782$3,174,620
60$3,968,955$1,840,319$1,444,592$3,424,397
61$4,338,593$1,895,299$1,457,791$3,697,604
62$4,744,825$1,951,864$1,470,322$3,996,576
63$5,191,349$2,010,057$1,482,130$4,323,887
64$5,682,239$2,069,922$1,493,154$4,682,368
65$6,221,984$2,131,504$1,503,330$5,075,142
66$6,815,526$2,194,849$1,512,592$5,505,646
67$7,468,316$2,260,002$1,520,870$5,977,667
68$8,186,355$2,327,013$1,528,090$6,495,377
69$8,976,256$2,395,929$1,534,174$7,063,373
70$9,845,306$2,466,802$1,539,041$7,686,718
71$10,801,534$2,539,682$1,542,605$8,370,989
72$11,853,785$2,614,621$1,544,777$9,122,333
73$13,011,807$2,691,673$1,545,463$9,947,520
74$14,286,338$2,770,892$1,544,562$10,854,009
75$15,689,212$2,852,333$1,541,973$11,850,020
76$17,233,468$2,936,053$1,537,585$12,944,609
77$18,933,472$3,022,111$1,531,285$14,147,751
78$20,805,056$3,110,564$1,522,953$15,470,441
79$22,865,663$3,201,473$1,512,463$16,924,792
80$25,134,514$3,294,899$1,499,684$18,524,150
81$27,632,790$3,390,904$1,484,479$20,283,220
82$30,383,829$3,489,552$1,466,703$22,218,206
83$33,413,347$3,590,908$1,446,205$24,346,964
84$36,749,682$3,695,036$1,422,827$26,689,168
85$40,424,061$3,802,004$1,396,403$29,266,495
86$44,470,893$3,911,880$1,366,760$32,102,834
87$48,928,094$4,024,733$1,333,717$35,224,508
88$53,837,447$4,140,632$1,297,083$38,660,521
89$59,244,992$4,259,649$1,256,661$42,442,836
90$65,201,465$4,381,855$1,212,243$46,606,671
91$71,762,773$4,507,325$1,163,612$51,190,836
92$78,990,524$4,636,131$1,110,541$56,238,098
93$86,952,605$4,768,349$1,052,791$61,795,583
94$95,723,827$4,904,055$990,117$67,915,220
95$105,386,629$5,043,325$922,257$74,654,236
96$116,031,854$5,186,237$848,942$82,075,690
97$127,759,610$5,332,870$769,888$90,249,072
98$140,680,211$5,483,301$684,800$99,250,956
99$154,915,220$5,637,610$593,368$109,165,728
100$170,598,598$5,795,878$495,271$120,086,374