Can I retire at age 47 with 1,210,000?

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 $1,210,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$99,921$99,031$98,162$97,315$96,487$95,679
2 years$49,466$48,544$47,652$46,786$45,946$45,131
3 years$32,650$31,724$30,834$29,976$29,150$28,354
4 years$24,243$23,321$22,439$21,596$20,790$20,019
5 years$19,201$18,284$17,414$16,588$15,804$15,061
6 years$15,840$14,930$14,073$13,265$12,505$11,790
7 years$13,441$12,538$11,695$10,906$10,170$9,483
8 years$11,642$10,748$9,918$9,149$8,437$7,779
9 years$10,243$9,358$8,542$7,793$7,105$6,475
10 years$9,125$8,248$7,447$6,718$6,054$5,452
11 years$8,211$7,343$6,557$5,846$5,207$4,632
12 years$7,450$6,591$5,819$5,128$4,512$3,965
13 years$6,806$5,956$5,199$4,527$3,935$3,414
14 years$6,255$5,414$4,671$4,019$3,449$2,954
15 years$5,778$4,946$4,217$3,584$3,037$2,567
16 years$5,361$4,538$3,824$3,209$2,684$2,238
17 years$4,993$4,179$3,479$2,883$2,380$1,957
18 years$4,667$3,862$3,176$2,599$2,116$1,716
19 years$4,375$3,579$2,908$2,348$1,886$1,508
20 years$4,112$3,326$2,668$2,127$1,685$1,328
21 years$3,875$3,098$2,455$1,930$1,508$1,171
22 years$3,660$2,892$2,262$1,755$1,351$1,034
23 years$3,464$2,704$2,089$1,598$1,213$915
24 years$3,285$2,534$1,932$1,458$1,090$810
25 years$3,120$2,378$1,789$1,331$981$718
26 years$2,968$2,235$1,659$1,217$884$636
27 years$2,827$2,103$1,541$1,114$797$565
28 years$2,697$1,982$1,432$1,021$719$502
29 years$2,576$1,870$1,333$936$649$446
30 years$2,463$1,766$1,242$859$587$396
31 years$2,358$1,669$1,158$789$530$353
32 years$2,259$1,579$1,080$725$480$314
33 years$2,167$1,496$1,008$667$434$279
34 years$2,080$1,418$942$613$393$249
35 years$1,999$1,345$881$565$356$222
36 years$1,922$1,276$824$520$323$197
37 years$1,849$1,212$771$479$292$176
38 years$1,781$1,152$722$442$265$157
39 years$1,716$1,095$677$407$240$140
40 years$1,654$1,042$634$376$218$125
41 years$1,596$992$595$347$198$111
42 years$1,541$945$558$320$179$99
43 years$1,488$900$524$295$163$89
44 years$1,438$858$491$273$148$79
45 years$1,390$818$461$252$134$70
46 years$1,344$781$433$233$122$63
47 years$1,301$745$407$215$111$56
48 years$1,259$711$383$199$100$50
49 years$1,219$679$360$183$91$45
50 years$1,181$649$338$170$83$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,210,000, adding $5,389 every year, while hoping to spend $52,578 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: 74/12/14 Blend
46$1,210,000$1,210,000$1,210,000$1,210,000
47$1,338,979$1,274,849$1,256,094$1,433,654
48$1,419,612$1,281,374$1,242,230$1,503,517
49$1,506,708$1,286,456$1,226,140$1,573,005
50$1,600,869$1,289,970$1,207,693$1,647,721
51$1,702,761$1,291,781$1,186,754$1,728,171
52$1,813,111$1,291,747$1,163,179$1,814,911
53$1,932,722$1,289,716$1,136,819$1,908,553
54$2,062,475$1,285,528$1,107,518$2,009,775
55$2,203,341$1,279,012$1,075,113$2,119,322
56$2,356,385$1,269,988$1,039,433$2,238,016
57$2,522,782$1,258,262$1,000,299$2,366,765
58$2,703,821$1,243,633$957,525$2,506,569
59$2,900,924$1,225,884$910,915$2,658,531
60$3,115,652$1,204,786$860,265$2,823,867
61$3,349,726$1,180,098$805,361$3,003,918
62$3,605,039$1,151,563$745,981$3,200,163
63$3,883,672$1,118,910$681,891$3,414,234
64$4,187,921$1,081,850$612,848$3,647,929
65$4,520,308$1,040,080$538,598$3,903,232
66$4,883,613$993,278$458,875$4,182,330
67$5,280,896$941,103$373,401$4,487,636
68$5,715,525$883,194$281,888$4,821,810
69$6,191,209$819,172$184,032$5,187,785
70$6,712,034$748,632$79,518$5,588,796
71$7,282,495$671,149$0$6,028,410
72$7,907,548$586,274$0$6,515,342
73$8,592,647$493,530$0$7,062,134
74$9,343,799$392,416$0$7,661,731
75$10,167,623$282,400$0$8,319,462
76$11,071,404$162,922$0$9,041,200
77$12,063,173$33,390$0$9,833,415
78$13,151,769$0$0$10,703,240
79$14,346,935$0$0$11,672,640
80$15,659,398$0$0$12,742,078
81$17,100,979$0$0$13,916,781
82$18,684,697$0$0$15,207,366
83$20,424,896$0$0$16,625,530
84$22,337,378$0$0$18,184,158
85$24,439,550$0$0$19,897,445
86$26,750,593$0$0$21,781,029
87$29,291,636$0$0$23,852,142
88$32,085,958$0$0$26,129,766
89$35,159,208$0$0$28,634,816
90$38,539,645$0$0$31,390,335
91$42,258,404$0$0$34,421,712
92$46,349,789$0$0$37,756,921
93$50,851,597$0$0$41,426,783
94$55,805,476$0$0$45,465,259
95$61,257,311$0$0$49,909,767
96$67,257,663$0$0$54,801,537
97$73,862,242$0$0$60,185,999
98$81,132,433$0$0$66,113,208
99$89,135,876$0$0$72,638,323
100$97,947,100$0$0$79,822,118