Can I retire at age 47 with 1,340,000?

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$110,656$109,670$108,709$107,770$106,853$103,808
2 years$54,780$53,760$52,771$51,813$50,883$47,838
3 years$36,157$35,133$34,146$33,197$32,282$29,333
4 years$26,848$25,826$24,850$23,916$23,024$20,194
5 years$21,263$20,248$19,285$18,370$17,502$14,799
6 years$17,542$16,534$15,585$14,691$13,849$11,275
7 years$14,885$13,885$12,951$12,078$11,263$8,818
8 years$12,893$11,902$10,983$10,132$9,344$7,027
9 years$11,344$10,363$9,460$8,630$7,869$5,677
10 years$10,106$9,135$8,248$7,439$6,705$4,636
11 years$9,093$8,132$7,261$6,474$5,766$3,816
12 years$8,250$7,299$6,444$5,679$4,997$3,163
13 years$7,538$6,596$5,757$5,014$4,357$2,634
14 years$6,927$5,996$5,173$4,451$3,820$2,204
15 years$6,399$5,477$4,670$3,969$3,363$1,850
16 years$5,937$5,025$4,234$3,554$2,972$1,558
17 years$5,529$4,628$3,853$3,193$2,635$1,314
18 years$5,168$4,276$3,517$2,878$2,343$1,111
19 years$4,845$3,963$3,220$2,600$2,089$941
20 years$4,554$3,683$2,955$2,355$1,866$798
21 years$4,292$3,430$2,718$2,137$1,670$678
22 years$4,053$3,202$2,505$1,943$1,496$576
23 years$3,836$2,995$2,313$1,770$1,343$490
24 years$3,637$2,806$2,139$1,614$1,207$417
25 years$3,455$2,633$1,981$1,474$1,086$355
26 years$3,286$2,475$1,838$1,348$979$303
27 years$3,131$2,329$1,706$1,234$882$258
28 years$2,987$2,195$1,586$1,130$796$220
29 years$2,853$2,071$1,476$1,037$719$188
30 years$2,728$1,955$1,375$951$650$160
31 years$2,611$1,849$1,282$874$587$137
32 years$2,502$1,749$1,196$803$531$117
33 years$2,400$1,656$1,117$738$481$100
34 years$2,304$1,570$1,043$679$435$85
35 years$2,213$1,489$976$625$394$73
36 years$2,128$1,413$913$576$357$62
37 years$2,048$1,342$854$531$324$53
38 years$1,972$1,276$800$489$294$45
39 years$1,900$1,213$749$451$266$39
40 years$1,832$1,154$702$416$241$33
41 years$1,767$1,099$659$384$219$28
42 years$1,706$1,046$618$354$199$24
43 years$1,648$997$580$327$180$21
44 years$1,592$950$544$302$164$18
45 years$1,539$906$511$279$149$15
46 years$1,489$864$480$258$135$13
47 years$1,441$825$451$238$123$11
48 years$1,394$788$424$220$111$9
49 years$1,350$752$398$203$101$8
50 years$1,308$718$374$188$92$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,340,000, adding $4,809 every year, while hoping to spend $53,575 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: 28/50/22 Blend
46$1,340,000$1,340,000$1,340,000$1,340,000
47$1,481,640$1,410,620$1,389,850$1,512,756
48$1,575,764$1,422,738$1,379,407$1,549,524
49$1,677,693$1,433,653$1,366,818$1,583,947
50$1,788,167$1,443,250$1,351,955$1,619,801
51$1,907,998$1,451,408$1,334,684$1,657,243
52$2,038,082$1,457,995$1,314,864$1,696,449
53$2,179,401$1,462,871$1,292,347$1,737,615
54$2,333,038$1,465,890$1,266,978$1,780,964
55$2,500,183$1,466,894$1,238,597$1,826,742
56$2,682,146$1,465,716$1,207,035$1,875,229
57$2,880,368$1,462,179$1,172,113$1,926,736
58$3,096,435$1,456,095$1,133,648$1,981,613
59$3,332,092$1,447,264$1,091,446$2,040,248
60$3,589,260$1,435,475$1,045,305$2,103,078
61$3,870,054$1,420,504$995,012$2,170,589
62$4,176,803$1,402,111$940,348$2,243,326
63$4,512,067$1,380,045$881,080$2,321,893
64$4,878,669$1,354,039$816,968$2,406,967
65$5,279,716$1,323,809$747,758$2,499,301
66$5,718,627$1,289,055$673,188$2,599,732
67$6,199,169$1,249,461$592,982$2,709,194
68$6,725,489$1,204,689$506,852$2,828,725
69$7,302,155$1,154,385$414,497$2,959,479
70$7,934,197$1,098,172$315,605$3,102,741
71$8,627,155$1,035,652$209,848$3,259,937
72$9,387,130$966,405$96,883$3,432,651
73$10,220,842$889,984$0$3,622,643
74$11,135,695$805,920$0$3,837,421
75$12,139,840$713,714$0$4,098,227
76$13,242,260$612,843$0$4,384,790
77$14,452,848$502,750$0$4,699,871
78$15,782,502$382,848$0$5,046,524
79$17,243,228$252,518$0$5,428,127
80$18,848,252$111,105$0$5,848,418
81$20,612,143$0$0$6,311,530
82$22,550,955$0$0$6,845,185
83$24,682,371$0$0$7,499,290
84$27,025,875$0$0$8,218,726
85$29,602,933$0$0$9,010,111
86$32,437,194$0$0$9,880,739
87$35,554,714$0$0$10,838,647
88$38,984,202$0$0$11,892,688
89$42,757,290$0$0$13,052,619
90$46,908,829$0$0$14,329,190
91$51,477,219$0$0$15,734,245
92$56,504,771$0$0$17,280,835
93$62,038,105$0$0$18,983,341
94$68,128,589$0$0$20,857,608
95$74,832,824$0$0$22,921,096
96$82,213,178$0$0$25,193,044
97$90,338,371$0$0$27,694,652
98$99,284,126$0$0$30,449,279
99$109,133,882$0$0$33,482,667
100$119,979,581$0$0$36,823,177