Can I retire at age 47 with 1,740,000?

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 $1,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$143,688$142,408$141,159$139,940$138,750$135,176
2 years$71,132$69,808$68,524$67,279$66,071$62,495
3 years$46,951$45,620$44,339$43,106$41,918$38,451
4 years$34,862$33,536$32,268$31,056$29,897$26,565
5 years$27,611$26,292$25,041$23,854$22,727$19,540
6 years$22,778$21,470$20,237$19,076$17,983$14,944
7 years$19,328$18,030$16,817$15,683$14,625$11,734
8 years$16,741$15,455$14,262$13,156$12,133$9,389
9 years$14,730$13,457$12,284$11,206$10,218$7,618
10 years$13,122$11,861$10,709$9,660$8,706$6,247
11 years$11,808$10,559$9,428$8,407$7,487$5,166
12 years$10,713$9,478$8,367$7,374$6,488$4,301
13 years$9,788$8,565$7,476$6,510$5,658$3,600
14 years$8,995$7,785$6,717$5,779$4,960$3,026
15 years$8,309$7,112$6,065$5,154$4,367$2,553
16 years$7,709$6,525$5,498$4,615$3,860$2,160
17 years$7,180$6,009$5,003$4,146$3,422$1,832
18 years$6,711$5,553$4,567$3,737$3,043$1,557
19 years$6,291$5,146$4,181$3,376$2,712$1,326
20 years$5,914$4,782$3,837$3,058$2,423$1,130
21 years$5,573$4,455$3,530$2,775$2,168$965
22 years$5,263$4,158$3,253$2,523$1,943$825
23 years$4,981$3,889$3,004$2,298$1,744$705
24 years$4,723$3,644$2,778$2,096$1,568$604
25 years$4,486$3,419$2,573$1,914$1,411$517
26 years$4,267$3,214$2,386$1,750$1,271$443
27 years$4,065$3,025$2,216$1,602$1,146$380
28 years$3,878$2,850$2,060$1,468$1,034$326
29 years$3,704$2,689$1,917$1,346$934$280
30 years$3,542$2,539$1,786$1,235$843$240
31 years$3,391$2,400$1,665$1,135$763$206
32 years$3,249$2,271$1,553$1,043$690$177
33 years$3,116$2,151$1,450$959$624$152
34 years$2,991$2,039$1,355$882$565$131
35 years$2,874$1,934$1,267$812$512$112
36 years$2,764$1,835$1,185$748$464$96
37 years$2,659$1,743$1,109$689$420$83
38 years$2,561$1,656$1,039$635$381$71
39 years$2,467$1,575$973$586$346$61
40 years$2,379$1,499$912$540$313$53
41 years$2,295$1,427$855$498$284$45
42 years$2,215$1,359$802$460$258$39
43 years$2,139$1,294$753$425$234$33
44 years$2,067$1,234$707$392$213$29
45 years$1,999$1,177$664$362$193$25
46 years$1,933$1,122$623$334$175$21
47 years$1,871$1,071$585$309$159$18
48 years$1,811$1,023$550$286$145$16
49 years$1,754$977$517$264$131$13
50 years$1,699$933$486$244$119$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,740,000, adding $3,007 every year, while hoping to spend $22,424 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: 47/47/6 Blend
46$1,740,000$1,740,000$1,740,000$1,740,000
47$1,920,582$1,828,362$1,801,392$2,007,661
48$2,092,622$1,894,092$1,837,879$2,133,405
49$2,281,459$1,962,292$1,874,838$2,267,183
50$2,488,782$2,033,059$1,912,259$2,411,831
51$2,716,452$2,106,494$1,950,134$2,568,363
52$2,966,520$2,182,702$1,988,454$2,737,892
53$3,241,244$2,261,793$2,027,206$2,921,642
54$3,543,113$2,343,882$2,066,379$3,120,957
55$3,874,866$2,429,088$2,105,958$3,337,315
56$4,239,525$2,517,536$2,145,930$3,572,341
57$4,640,415$2,609,354$2,186,278$3,827,820
58$5,081,203$2,704,678$2,226,984$4,105,715
59$5,565,927$2,803,648$2,268,028$4,408,188
60$6,099,035$2,906,410$2,309,391$4,737,613
61$6,685,429$3,013,117$2,351,049$5,096,603
62$7,330,512$3,123,929$2,392,977$5,488,032
63$8,040,232$3,239,009$2,435,150$5,915,063
64$8,821,147$3,358,532$2,477,539$6,381,174
65$9,680,481$3,482,677$2,520,113$6,890,195
66$10,626,194$3,611,632$2,562,841$7,446,339
67$11,667,056$3,745,592$2,605,686$8,054,242
68$12,812,731$3,884,762$2,648,612$8,719,008
69$14,073,868$4,029,353$2,691,579$9,446,255
70$15,462,198$4,179,588$2,734,543$10,242,167
71$16,990,652$4,335,697$2,777,460$11,113,551
72$18,673,475$4,497,922$2,820,281$12,067,901
73$20,526,363$4,666,514$2,862,954$13,113,468
74$22,566,614$4,841,735$2,905,424$14,259,338
75$24,813,287$5,023,859$2,947,635$15,515,512
76$27,287,384$5,213,170$2,989,523$16,893,007
77$30,012,048$5,409,966$3,031,023$18,403,950
78$33,012,781$5,614,559$3,072,066$20,061,699
79$36,317,683$5,827,270$3,112,578$21,880,965
80$39,957,719$6,048,439$3,152,482$23,877,946
81$43,967,011$6,278,417$3,191,695$26,070,484
82$48,383,160$6,517,573$3,230,130$28,478,231
83$53,247,598$6,766,290$3,267,696$31,122,830
84$58,605,984$7,024,969$3,304,294$34,028,121
85$64,508,630$7,294,028$3,339,824$37,220,362
86$71,010,978$7,573,903$3,374,175$40,728,478
87$78,174,123$7,865,050$3,407,236$44,584,330
88$86,065,390$8,167,944$3,438,884$48,823,015
89$94,758,967$8,483,081$3,468,995$53,483,195
90$104,336,609$8,810,979$3,497,433$58,607,462
91$114,888,406$9,152,179$3,524,060$64,242,734
92$126,513,634$9,507,247$3,548,727$70,440,701
93$139,321,693$9,876,771$3,571,278$77,258,307
94$153,433,140$10,261,367$3,591,550$84,758,286
95$168,980,825$10,661,678$3,609,371$93,009,753
96$186,111,145$11,078,376$3,624,561$102,088,853
97$204,985,427$11,512,162$3,636,929$112,079,478
98$225,781,451$11,963,768$3,646,276$123,074,056
99$248,695,126$12,433,959$3,652,393$135,174,421
100$273,942,340$12,923,535$3,655,060$148,492,771