Can I retire at age 47 with 1,420,000?

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 $1,420,000?

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$117,262$116,218$115,199$114,204$113,233$109,128
2 years$58,051$56,969$55,922$54,906$53,920$49,830
3 years$38,316$37,230$36,185$35,179$34,209$30,262
4 years$28,451$27,368$26,333$25,344$24,398$20,624
5 years$22,533$21,457$20,436$19,467$18,547$14,956
6 years$18,589$17,521$16,515$15,568$14,676$11,270
7 years$15,773$14,714$13,724$12,799$11,935$8,714
8 years$13,662$12,613$11,639$10,737$9,902$6,863
9 years$12,021$10,982$10,025$9,145$8,339$5,477
10 years$10,709$9,680$8,740$7,883$7,105$4,417
11 years$9,636$8,617$7,694$6,861$6,110$3,589
12 years$8,743$7,735$6,829$6,018$5,295$2,935
13 years$7,988$6,990$6,101$5,313$4,617$2,412
14 years$7,341$6,354$5,482$4,716$4,048$1,990
15 years$6,781$5,804$4,949$4,206$3,564$1,647
16 years$6,291$5,325$4,487$3,766$3,150$1,367
17 years$5,860$4,904$4,083$3,384$2,793$1,136
18 years$5,476$4,532$3,727$3,049$2,483$947
19 years$5,134$4,200$3,412$2,755$2,213$790
20 years$4,826$3,903$3,132$2,496$1,977$660
21 years$4,548$3,635$2,880$2,265$1,769$552
22 years$4,295$3,393$2,655$2,059$1,586$462
23 years$4,065$3,174$2,451$1,875$1,424$386
24 years$3,855$2,974$2,267$1,711$1,280$324
25 years$3,661$2,791$2,100$1,562$1,151$271
26 years$3,483$2,623$1,947$1,428$1,037$228
27 years$3,318$2,468$1,808$1,307$935$191
28 years$3,165$2,326$1,681$1,198$844$160
29 years$3,023$2,194$1,564$1,098$762$134
30 years$2,891$2,072$1,457$1,008$688$113
31 years$2,767$1,959$1,358$926$622$95
32 years$2,651$1,854$1,267$851$563$80
33 years$2,543$1,755$1,183$782$509$67
34 years$2,441$1,664$1,106$720$461$56
35 years$2,346$1,578$1,034$663$418$47
36 years$2,255$1,498$967$610$379$40
37 years$2,170$1,422$905$562$343$33
38 years$2,090$1,352$848$518$311$28
39 years$2,014$1,285$794$478$282$23
40 years$1,941$1,223$744$441$256$20
41 years$1,873$1,164$698$407$232$17
42 years$1,808$1,109$655$375$211$14
43 years$1,746$1,056$614$347$191$12
44 years$1,687$1,007$577$320$173$10
45 years$1,631$960$541$295$158$8
46 years$1,578$916$509$273$143$7
47 years$1,527$874$478$252$130$6
48 years$1,478$835$449$233$118$5
49 years$1,431$797$422$215$107$4
50 years$1,386$761$397$199$97$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,420,000, adding $3,542 every year, while hoping to spend $48,781 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: 54/30/16 Blend
46$1,420,000$1,420,000$1,420,000$1,420,000
47$1,568,494$1,493,234$1,471,224$1,646,307
48$1,676,577$1,514,499$1,468,607$1,721,059
49$1,794,051$1,535,172$1,464,268$1,796,877
50$1,921,820$1,555,172$1,458,097$1,878,310
51$2,060,882$1,574,412$1,449,979$1,965,906
52$2,212,334$1,592,800$1,439,796$2,060,270
53$2,377,383$1,610,238$1,427,420$2,162,068
54$2,557,359$1,626,622$1,412,721$2,272,036
55$2,753,722$1,641,839$1,395,560$2,390,987
56$2,968,083$1,655,771$1,375,793$2,519,817
57$3,202,213$1,668,290$1,353,268$2,659,516
58$3,458,064$1,679,261$1,327,827$2,811,176
59$3,737,782$1,688,540$1,299,304$2,976,001
60$4,043,731$1,695,974$1,267,527$3,155,323
61$4,378,515$1,701,400$1,232,312$3,350,609
62$4,745,001$1,704,646$1,193,472$3,563,480
63$5,146,344$1,705,526$1,150,806$3,795,723
64$5,586,020$1,703,847$1,104,107$4,049,310
65$6,067,858$1,699,399$1,053,159$4,326,420
66$6,596,074$1,691,964$997,734$4,629,454
67$7,175,311$1,681,307$937,595$4,961,062
68$7,810,682$1,667,181$872,494$5,324,170
69$8,507,821$1,649,322$802,172$5,722,003
70$9,272,933$1,627,453$726,359$6,158,123
71$10,112,851$1,601,277$644,771$6,636,455
72$11,035,104$1,570,482$557,114$7,161,335
73$12,047,986$1,534,737$463,078$7,737,540
74$13,160,632$1,493,690$362,342$8,370,345
75$14,383,105$1,446,970$254,570$9,065,565
76$15,726,494$1,394,183$139,410$9,829,618
77$17,203,012$1,334,914$16,496$10,669,580
78$18,826,116$1,268,722$0$11,593,258
79$20,610,631$1,195,141$0$12,628,838
80$22,572,891$1,113,678$0$13,770,517
81$24,730,890$1,023,813$0$15,026,021
82$27,104,456$924,994$0$16,406,974
83$29,715,432$816,641$0$17,926,192
84$32,587,887$698,137$0$19,597,802
85$35,748,340$568,833$0$21,437,382
86$39,226,007$428,043$0$23,462,101
87$43,053,084$275,041$0$25,690,889
88$47,265,042$109,062$0$28,144,613
89$51,900,968$0$0$30,846,277
90$57,003,926$0$0$33,844,581
91$62,621,372$0$0$37,184,975
92$68,805,593$0$0$40,862,569
93$75,614,206$0$0$44,911,647
94$83,110,695$0$0$49,369,985
95$91,365,018$0$0$54,279,211
96$100,454,258$0$0$59,685,192
97$110,463,356$0$0$65,638,472
98$121,485,909$0$0$72,194,747
99$133,625,054$0$0$79,415,388
100$146,994,440$0$0$87,368,023