Can I retire at age 47 with 1,230,000?

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$101,572$100,667$99,785$98,923$98,082$94,190
2 years$50,283$49,347$48,439$47,559$46,706$42,833
3 years$33,189$32,249$31,343$30,472$29,632$25,901
4 years$24,644$23,706$22,810$21,953$21,134$17,572
5 years$19,518$18,586$17,701$16,862$16,066$12,682
6 years$16,102$15,177$14,305$13,485$12,712$9,509
7 years$13,663$12,745$11,888$11,087$10,338$7,315
8 years$11,834$10,925$10,082$9,300$8,577$5,730
9 years$10,413$9,512$8,683$7,922$7,223$4,548
10 years$9,276$8,385$7,570$6,829$6,154$3,646
11 years$8,347$7,464$6,665$5,943$5,293$2,946
12 years$7,573$6,700$5,915$5,213$4,587$2,395
13 years$6,919$6,055$5,285$4,602$4,000$1,956
14 years$6,359$5,503$4,748$4,085$3,506$1,603
15 years$5,873$5,027$4,287$3,643$3,087$1,319
16 years$5,449$4,613$3,887$3,262$2,728$1,087
17 years$5,076$4,248$3,537$2,931$2,419$898
18 years$4,744$3,925$3,229$2,641$2,151$743
19 years$4,447$3,638$2,956$2,387$1,917$616
20 years$4,180$3,381$2,713$2,162$1,712$511
21 years$3,939$3,149$2,495$1,962$1,532$424
22 years$3,721$2,939$2,300$1,784$1,374$352
23 years$3,521$2,749$2,123$1,625$1,233$293
24 years$3,339$2,576$1,964$1,482$1,108$244
25 years$3,171$2,417$1,819$1,353$997$203
26 years$3,017$2,272$1,687$1,237$898$169
27 years$2,874$2,138$1,566$1,132$810$141
28 years$2,741$2,015$1,456$1,038$731$117
29 years$2,618$1,901$1,355$951$660$98
30 years$2,504$1,795$1,262$873$596$81
31 years$2,397$1,697$1,177$802$539$68
32 years$2,297$1,606$1,098$737$488$56
33 years$2,203$1,520$1,025$678$441$47
34 years$2,115$1,441$958$624$400$39
35 years$2,032$1,367$895$574$362$33
36 years$1,954$1,297$838$529$328$27
37 years$1,880$1,232$784$487$297$23
38 years$1,810$1,171$734$449$269$19
39 years$1,744$1,113$688$414$244$16
40 years$1,682$1,059$645$382$222$13
41 years$1,622$1,008$605$352$201$11
42 years$1,566$960$567$325$182$9
43 years$1,512$915$532$300$166$8
44 years$1,461$872$500$277$150$6
45 years$1,413$832$469$256$136$5
46 years$1,366$793$441$236$124$4
47 years$1,322$757$414$218$112$4
48 years$1,280$723$389$202$102$3
49 years$1,240$690$366$187$93$3
50 years$1,201$659$344$172$84$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,230,000, adding $5,505 every year, while hoping to spend $59,725 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: 57/13/30 Blend
46$1,230,000$1,230,000$1,230,000$1,230,000
47$1,361,138$1,295,948$1,276,883$1,427,188
48$1,436,428$1,295,903$1,256,112$1,473,196
49$1,517,395$1,293,854$1,232,643$1,516,647
50$1,604,555$1,289,639$1,206,323$1,562,815
51$1,698,477$1,283,088$1,176,992$1,611,982
52$1,799,781$1,274,019$1,144,481$1,664,463
53$1,909,153$1,262,240$1,108,615$1,720,605
54$2,027,342$1,247,546$1,069,209$1,780,798
55$2,155,176$1,229,720$1,026,073$1,845,470
56$2,293,562$1,208,535$979,004$1,915,099
57$2,443,498$1,183,745$927,794$1,990,212
58$2,606,081$1,155,095$872,221$2,071,397
59$2,782,518$1,122,312$812,057$2,159,303
60$2,974,136$1,085,106$747,062$2,254,651
61$3,182,395$1,043,173$676,986$2,358,238
62$3,408,901$996,190$601,566$2,470,947
63$3,655,420$943,814$520,530$2,593,758
64$3,923,896$885,685$433,591$2,727,754
65$4,216,469$821,419$340,452$2,874,134
66$4,535,493$750,613$240,801$3,034,227
67$4,883,560$672,839$134,314$3,209,499
68$5,263,520$587,646$20,651$3,401,578
69$5,678,515$494,556$0$3,612,260
70$6,131,999$393,065$0$3,875,750
71$6,627,779$282,641$0$4,171,178
72$7,170,043$162,722$0$4,494,480
73$7,763,405$32,712$0$4,848,473
74$8,412,943$0$0$5,236,259
75$9,124,250$0$0$5,676,713
76$9,903,486$0$0$6,164,462
77$10,757,434$0$0$6,699,087
78$11,693,564$0$0$7,285,278
79$12,720,104$0$0$7,928,202
80$13,846,116$0$0$8,633,548
81$15,081,580$0$0$9,407,584
82$16,437,491$0$0$10,257,215
83$17,925,959$0$0$11,190,045
84$19,560,325$0$0$12,214,451
85$21,355,281$0$0$13,339,661
86$23,327,017$0$0$14,575,843
87$25,493,366$0$0$15,934,194
88$27,873,972$0$0$17,427,053
89$30,490,479$0$0$19,068,012
90$33,366,730$0$0$20,872,046
91$36,528,996$0$0$22,855,652
92$40,006,216$0$0$25,037,009
93$43,830,277$0$0$27,436,141
94$48,036,311$0$0$30,075,114
95$52,663,024$0$0$32,978,237
96$57,753,062$0$0$36,172,296
97$63,353,414$0$0$39,686,803
98$69,515,852$0$0$43,554,274
99$76,297,421$0$0$47,810,540
100$83,760,975$0$0$52,495,077