Can I retire at age 47 with 1,540,000?

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 $1,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$127,172$126,039$124,934$123,855$122,802$122,233
2 years$62,956$61,784$60,647$59,546$58,477$57,903
3 years$41,554$40,376$39,243$38,152$37,100$36,538
4 years$30,855$29,681$28,559$27,486$26,460$25,915
5 years$24,437$23,270$22,163$21,112$20,115$19,588
6 years$20,160$19,002$17,911$16,883$15,916$15,408
7 years$17,106$15,958$14,884$13,881$12,944$12,456
8 years$14,817$13,679$12,623$11,644$10,738$10,269
9 years$13,037$11,910$10,872$9,918$9,043$8,593
10 years$11,614$10,498$9,478$8,550$7,705$7,275
11 years$10,451$9,346$8,345$7,441$6,627$6,215
12 years$9,482$8,388$7,406$6,527$5,743$5,349
13 years$8,663$7,580$6,617$5,762$5,008$4,632
14 years$7,961$6,890$5,945$5,115$4,390$4,032
15 years$7,354$6,295$5,368$4,562$3,865$3,524
16 years$6,823$5,775$4,866$4,084$3,416$3,092
17 years$6,355$5,319$4,428$3,670$3,029$2,721
18 years$5,939$4,915$4,042$3,307$2,693$2,401
19 years$5,568$4,555$3,701$2,988$2,400$2,124
20 years$5,234$4,233$3,396$2,707$2,144$1,882
21 years$4,932$3,943$3,124$2,456$1,919$1,671
22 years$4,658$3,680$2,879$2,233$1,720$1,486
23 years$4,409$3,442$2,658$2,034$1,544$1,323
24 years$4,180$3,225$2,459$1,855$1,388$1,179
25 years$3,970$3,026$2,277$1,694$1,249$1,052
26 years$3,777$2,844$2,112$1,549$1,125$940
27 years$3,598$2,677$1,961$1,418$1,014$840
28 years$3,432$2,522$1,823$1,299$915$752
29 years$3,278$2,380$1,697$1,191$826$673
30 years$3,135$2,247$1,580$1,093$747$603
31 years$3,001$2,124$1,473$1,004$675$540
32 years$2,875$2,010$1,375$923$611$484
33 years$2,758$1,904$1,283$849$553$434
34 years$2,648$1,804$1,199$781$500$390
35 years$2,544$1,711$1,121$719$453$350
36 years$2,446$1,624$1,049$662$411$314
37 years$2,354$1,543$982$610$372$282
38 years$2,266$1,466$919$562$337$253
39 years$2,184$1,394$861$518$306$227
40 years$2,105$1,326$807$478$277$204
41 years$2,031$1,263$757$441$252$184
42 years$1,961$1,202$710$407$228$165
43 years$1,894$1,146$666$376$207$148
44 years$1,830$1,092$625$347$188$133
45 years$1,769$1,041$587$320$171$120
46 years$1,711$993$552$296$155$108
47 years$1,656$948$518$273$141$97
48 years$1,603$905$487$253$128$87
49 years$1,552$864$458$234$116$79
50 years$1,504$826$430$216$106$71

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,540,000, adding $6,392 every year, while hoping to spend $59,925 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: 65/19/16 Blend
46$1,540,000$1,540,000$1,540,000$1,540,000
47$1,703,673$1,622,053$1,598,183$1,807,374
48$1,813,688$1,637,774$1,587,963$1,893,318
49$1,932,916$1,652,257$1,575,391$1,979,691
50$2,062,234$1,665,378$1,560,327$2,072,613
51$2,202,605$1,677,004$1,542,621$2,172,724
52$2,355,090$1,686,997$1,522,118$2,280,728
53$2,520,854$1,695,205$1,498,654$2,397,405
54$2,701,181$1,701,469$1,472,059$2,523,614
55$2,897,482$1,705,622$1,442,154$2,660,303
56$3,111,310$1,707,483$1,408,751$2,808,518
57$3,344,375$1,706,861$1,371,655$2,969,412
58$3,598,558$1,703,553$1,330,662$3,144,260
59$3,875,928$1,697,345$1,285,557$3,334,466
60$4,178,765$1,688,007$1,236,115$3,541,581
61$4,509,578$1,675,298$1,182,103$3,767,313
62$4,871,127$1,658,960$1,123,277$4,013,551
63$5,266,455$1,638,721$1,059,379$4,282,374
64$5,698,907$1,614,293$990,142$4,576,081
65$6,172,171$1,585,368$915,287$4,897,204
66$6,690,305$1,551,624$834,521$5,248,538
67$7,257,778$1,512,716$747,540$5,633,166
68$7,879,513$1,468,281$654,025$6,054,488
69$8,560,931$1,417,934$553,642$6,516,256
70$9,308,001$1,361,268$446,044$7,022,607
71$10,127,299$1,297,851$330,868$7,578,107
72$11,026,066$1,227,229$207,735$8,187,789
73$12,012,280$1,148,918$76,249$8,857,205
74$13,094,726$1,062,409$0$9,592,481
75$14,283,084$967,163$0$10,411,307
76$15,588,014$862,609$0$11,324,799
77$17,021,261$748,146$0$12,328,216
78$18,595,762$623,138$0$13,430,698
79$20,325,769$486,911$0$14,642,322
80$22,226,984$338,756$0$15,974,190
81$24,316,705$177,924$0$17,438,544
82$26,613,988$3,621$0$19,048,876
83$29,139,829$0$0$20,820,058
84$31,917,359$0$0$22,807,158
85$34,972,062$0$0$24,993,502
86$38,332,019$0$0$27,398,444
87$42,028,164$0$0$30,044,141
88$46,094,584$0$0$32,955,008
89$50,568,834$0$0$36,157,943
90$55,492,295$0$0$39,682,586
91$60,910,560$0$0$43,561,593
92$66,873,867$0$0$47,830,948
93$73,437,570$0$0$52,530,298
94$80,662,661$0$0$57,703,330
95$88,616,348$0$0$63,398,183
96$97,372,682$0$0$69,667,897
97$107,013,262$0$0$76,570,920
98$117,628,002$0$0$84,171,654
99$129,315,975$0$0$92,541,063
100$142,186,355$0$0$101,757,344