Can I retire at age 47 with 1,320,000?

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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$109,004$108,033$107,086$106,161$105,259$103,218
2 years$53,963$52,958$51,984$51,039$50,123$48,075
3 years$35,618$34,608$33,637$32,701$31,800$29,809
4 years$26,447$25,441$24,479$23,559$22,680$20,761
5 years$20,946$19,946$18,997$18,096$17,241$15,400
6 years$17,280$16,287$15,352$14,471$13,642$11,881
7 years$14,662$13,678$12,758$11,898$11,095$9,414
8 years$12,700$11,725$10,820$9,981$9,204$7,603
9 years$11,175$10,208$9,319$8,501$7,751$6,228
10 years$9,955$8,998$8,124$7,328$6,604$5,159
11 years$8,958$8,011$7,153$6,378$5,680$4,310
12 years$8,127$7,190$6,348$5,594$4,922$3,625
13 years$7,425$6,498$5,671$4,939$4,292$3,067
14 years$6,824$5,906$5,096$4,384$3,763$2,606
15 years$6,303$5,395$4,601$3,910$3,313$2,223
16 years$5,848$4,950$4,171$3,501$2,928$1,903
17 years$5,447$4,559$3,796$3,146$2,596$1,633
18 years$5,091$4,213$3,465$2,835$2,308$1,404
19 years$4,772$3,904$3,172$2,561$2,057$1,210
20 years$4,486$3,628$2,911$2,320$1,838$1,044
21 years$4,228$3,379$2,678$2,105$1,645$902
22 years$3,993$3,154$2,468$1,914$1,474$781
23 years$3,779$2,950$2,279$1,743$1,323$676
24 years$3,583$2,764$2,107$1,590$1,189$586
25 years$3,403$2,594$1,952$1,452$1,070$509
26 years$3,237$2,438$1,810$1,328$964$441
27 years$3,084$2,294$1,681$1,215$869$383
28 years$2,942$2,162$1,563$1,114$784$333
29 years$2,810$2,040$1,454$1,021$708$290
30 years$2,687$1,926$1,355$937$640$252
31 years$2,572$1,821$1,263$861$579$219
32 years$2,465$1,723$1,178$791$523$191
33 years$2,364$1,632$1,100$727$474$166
34 years$2,269$1,546$1,028$669$429$145
35 years$2,180$1,467$961$616$388$126
36 years$2,096$1,392$899$567$352$110
37 years$2,017$1,322$841$523$319$95
38 years$1,943$1,257$788$482$289$83
39 years$1,872$1,195$738$444$262$72
40 years$1,805$1,137$692$410$238$63
41 years$1,741$1,082$649$378$216$55
42 years$1,681$1,031$609$349$196$48
43 years$1,623$982$571$322$178$42
44 years$1,568$936$536$297$161$36
45 years$1,516$893$503$275$146$32
46 years$1,466$852$473$254$133$28
47 years$1,419$813$444$234$121$24
48 years$1,374$776$417$217$110$21
49 years$1,330$741$392$200$100$18
50 years$1,289$708$369$185$90$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,320,000, adding $6,738 every year, while hoping to spend $49,590 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: 80/6/14 Blend
46$1,320,000$1,320,000$1,320,000$1,320,000
47$1,461,590$1,391,630$1,371,170$1,573,902
48$1,557,909$1,407,057$1,364,341$1,664,127
49$1,662,390$1,421,577$1,355,621$1,756,039
50$1,775,814$1,435,095$1,344,895$1,855,485
51$1,899,039$1,447,506$1,332,040$1,963,199
52$2,033,009$1,458,701$1,316,931$2,079,988
53$2,178,762$1,468,564$1,299,435$2,206,741
54$2,337,441$1,476,969$1,279,411$2,344,437
55$2,510,303$1,483,784$1,256,714$2,494,156
56$2,698,732$1,488,867$1,231,193$2,657,087
57$2,904,251$1,492,070$1,202,686$2,834,539
58$3,128,536$1,493,232$1,171,027$3,027,957
59$3,373,431$1,492,185$1,136,041$3,238,931
60$3,640,968$1,488,749$1,097,545$3,469,214
61$3,933,382$1,482,733$1,055,348$3,720,737
62$4,253,135$1,473,935$1,009,250$3,995,629
63$4,602,937$1,462,140$959,042$4,296,237
64$4,985,772$1,447,121$904,506$4,625,144
65$5,404,926$1,428,635$845,413$4,985,201
66$5,864,019$1,406,428$781,524$5,379,546
67$6,367,034$1,380,229$712,590$5,811,640
68$6,918,360$1,349,749$638,351$6,285,297
69$7,522,832$1,314,685$558,534$6,804,719
70$8,185,771$1,274,715$472,856$7,374,539
71$8,913,043$1,229,499$381,019$7,999,861
72$9,711,104$1,178,675$282,714$8,686,311
73$10,587,068$1,121,862$177,617$9,440,092
74$11,548,772$1,058,657$65,390$10,268,036
75$12,604,848$988,631$0$11,177,676
76$13,764,803$911,335$0$12,185,436
77$15,039,112$826,290$0$13,303,295
78$16,439,316$732,993$0$14,531,616
79$17,978,127$630,910$0$15,881,572
80$19,669,549$519,477$0$17,365,475
81$21,529,012$398,101$0$18,996,890
82$23,573,515$266,152$0$20,790,763
83$25,821,787$122,966$0$22,763,562
84$28,294,461$0$0$24,933,436
85$31,014,272$0$0$27,322,501
86$34,006,267$0$0$29,959,624
87$37,298,045$0$0$32,861,016
88$40,920,013$0$0$36,053,484
89$44,905,676$0$0$39,566,563
90$49,291,948$0$0$43,432,799
91$54,119,506$0$0$47,688,050
92$59,433,168$0$0$52,371,828
93$65,282,317$0$0$57,527,668
94$71,721,369$0$0$63,203,542
95$78,810,283$0$0$69,452,308
96$86,615,126$0$0$76,332,212
97$95,208,698$0$0$83,907,433
98$104,671,217$0$0$92,248,691
99$115,091,077$0$0$101,433,912
100$126,565,680$0$0$111,548,965