Can I retire at age 47 with 1,600,000?

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 $1,600,000?

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%
1 years$132,127$130,950$129,801$128,681$127,586$122,913
2 years$65,409$64,191$63,010$61,866$60,755$56,099
3 years$43,173$41,950$40,772$39,638$38,546$34,053
4 years$32,057$30,837$29,671$28,557$27,491$23,196
5 years$25,389$24,177$23,026$21,934$20,898$16,812
6 years$20,945$19,742$18,609$17,541$16,536$12,662
7 years$17,773$16,579$15,464$14,422$13,448$9,785
8 years$15,394$14,212$13,115$12,098$11,157$7,701
9 years$13,545$12,374$11,296$10,305$9,396$6,143
10 years$12,067$10,907$9,848$8,883$8,005$4,950
11 years$10,858$9,710$8,670$7,731$6,885$4,020
12 years$9,851$8,715$7,694$6,781$5,966$3,285
13 years$9,000$7,876$6,874$5,986$5,203$2,698
14 years$8,271$7,159$6,177$5,314$4,561$2,224
15 years$7,640$6,540$5,577$4,739$4,016$1,840
16 years$7,089$6,000$5,056$4,243$3,549$1,525
17 years$6,602$5,526$4,601$3,813$3,147$1,268
18 years$6,171$5,106$4,200$3,436$2,798$1,055
19 years$5,785$4,732$3,845$3,105$2,494$880
20 years$5,438$4,398$3,529$2,812$2,228$734
21 years$5,124$4,096$3,246$2,552$1,993$613
22 years$4,840$3,824$2,991$2,320$1,787$513
23 years$4,581$3,576$2,762$2,113$1,604$429
24 years$4,343$3,351$2,554$1,927$1,442$359
25 years$4,125$3,144$2,366$1,760$1,297$301
26 years$3,924$2,955$2,194$1,609$1,169$252
27 years$3,738$2,781$2,038$1,473$1,054$211
28 years$3,566$2,621$1,894$1,350$951$177
29 years$3,406$2,472$1,763$1,238$858$149
30 years$3,257$2,335$1,642$1,136$776$125
31 years$3,118$2,207$1,531$1,043$701$105
32 years$2,987$2,088$1,428$959$634$88
33 years$2,865$1,978$1,333$882$574$74
34 years$2,751$1,875$1,246$811$520$62
35 years$2,643$1,778$1,165$747$471$52
36 years$2,541$1,688$1,090$688$427$44
37 years$2,445$1,603$1,020$634$387$37
38 years$2,355$1,523$955$584$350$31
39 years$2,269$1,448$895$539$318$26
40 years$2,187$1,378$839$497$288$22
41 years$2,110$1,312$786$458$262$18
42 years$2,037$1,249$738$423$237$15
43 years$1,967$1,190$692$390$215$13
44 years$1,901$1,135$650$361$195$11
45 years$1,838$1,082$610$333$177$9
46 years$1,778$1,032$573$308$161$8
47 years$1,720$985$538$284$146$6
48 years$1,665$940$506$263$133$5
49 years$1,612$898$476$243$121$4
50 years$1,562$858$447$224$110$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,600,000, adding $6,431 every year, while hoping to spend $44,149 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: 43/47/10 Blend
46$1,600,000$1,600,000$1,600,000$1,600,000
47$1,769,834$1,685,034$1,660,234$1,840,545
48$1,903,382$1,720,626$1,668,877$1,926,035
49$2,049,074$1,756,483$1,676,331$2,013,625
50$2,208,099$1,792,570$1,682,508$2,107,518
51$2,381,770$1,828,852$1,687,317$2,208,310
52$2,571,532$1,865,287$1,690,664$2,316,654
53$2,778,975$1,901,832$1,692,447$2,433,273
54$3,005,849$1,938,441$1,692,563$2,558,962
55$3,254,082$1,975,060$1,690,900$2,694,597
56$3,525,796$2,011,636$1,687,343$2,841,146
57$3,823,328$2,048,107$1,681,770$2,999,673
58$4,149,253$2,084,410$1,674,054$3,171,354
59$4,506,404$2,120,473$1,664,063$3,357,484
60$4,897,904$2,156,223$1,651,655$3,559,489
61$5,327,189$2,191,577$1,636,685$3,778,944
62$5,798,047$2,226,449$1,618,998$4,017,586
63$6,314,649$2,260,746$1,598,436$4,277,327
64$6,881,588$2,294,367$1,574,828$4,560,279
65$7,503,924$2,327,205$1,547,998$4,868,767
66$8,187,231$2,359,145$1,517,764$5,205,358
67$8,937,650$2,390,064$1,483,930$5,572,880
68$9,761,944$2,419,831$1,446,295$5,974,454
69$10,667,564$2,448,306$1,404,649$6,413,519
70$11,662,720$2,475,337$1,358,769$6,893,868
71$12,756,454$2,500,765$1,308,424$7,419,685
72$13,958,730$2,524,420$1,253,374$7,995,580
73$15,280,523$2,546,119$1,193,364$8,626,640
74$16,733,926$2,565,668$1,128,131$9,318,472
75$18,332,261$2,582,861$1,057,399$10,077,258
76$20,090,209$2,597,478$980,878$10,909,818
77$22,023,941$2,609,285$898,268$11,823,667
78$24,151,276$2,618,033$809,254$12,827,095
79$26,491,847$2,623,458$713,505$13,929,241
80$29,067,287$2,625,279$610,679$15,140,181
81$31,901,430$2,623,197$500,416$16,471,026
82$35,020,537$2,616,896$382,342$17,934,026
83$38,453,546$2,606,038$256,064$19,542,686
84$42,232,341$2,590,267$121,176$21,311,897
85$46,392,054$2,569,204$0$23,258,076
86$50,971,396$2,542,447$0$25,401,754
87$56,013,022$2,509,571$0$27,774,411
88$61,563,934$2,470,124$0$30,385,154
89$67,675,924$2,423,628$0$33,258,287
90$74,406,059$2,369,576$0$36,420,605
91$81,817,224$2,307,433$0$39,901,641
92$89,978,713$2,236,629$0$43,733,950
93$98,966,882$2,156,565$0$47,953,418
94$108,865,870$2,066,602$0$52,599,601
95$119,768,392$1,966,070$0$57,716,100
96$131,776,616$1,854,254$0$63,350,978
97$145,003,121$1,730,403$0$69,557,210
98$159,571,966$1,593,719$0$76,393,190
99$175,619,857$1,443,362$0$83,923,282
100$193,297,437$1,278,441$0$92,218,431