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

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 $1,000,000?

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%
1 years$82,579$81,843$81,126$80,425$79,741$77,437
2 years$40,881$40,119$39,381$38,666$37,972$35,669
3 years$26,983$26,218$25,482$24,774$24,091$21,861
4 years$20,036$19,273$18,545$17,848$17,182$15,042
5 years$15,868$15,111$14,391$13,709$13,061$11,018
6 years$13,091$12,339$11,630$10,963$10,335$8,390
7 years$11,108$10,362$9,665$9,013$8,405$6,558
8 years$9,621$8,882$8,197$7,561$6,973$5,222
9 years$8,466$7,734$7,060$6,440$5,872$4,217
10 years$7,542$6,817$6,155$5,552$5,003$3,441
11 years$6,786$6,069$5,419$4,832$4,303$2,831
12 years$6,157$5,447$4,809$4,238$3,729$2,345
13 years$5,625$4,922$4,296$3,742$3,252$1,952
14 years$5,170$4,474$3,860$3,321$2,850$1,632
15 years$4,775$4,087$3,485$2,962$2,510$1,369
16 years$4,430$3,750$3,160$2,652$2,218$1,151
17 years$4,126$3,454$2,875$2,383$1,967$971
18 years$3,857$3,191$2,625$2,148$1,749$820
19 years$3,615$2,958$2,403$1,940$1,559$694
20 years$3,399$2,748$2,205$1,757$1,392$588
21 years$3,203$2,560$2,029$1,595$1,246$499
22 years$3,025$2,390$1,870$1,450$1,117$424
23 years$2,863$2,235$1,726$1,321$1,002$360
24 years$2,714$2,094$1,596$1,205$901$307
25 years$2,578$1,965$1,479$1,100$811$261
26 years$2,453$1,847$1,371$1,006$730$222
27 years$2,336$1,738$1,273$921$658$189
28 years$2,229$1,638$1,184$844$594$161
29 years$2,129$1,545$1,102$774$537$137
30 years$2,036$1,459$1,026$710$485$117
31 years$1,949$1,380$957$652$438$100
32 years$1,867$1,305$893$599$396$85
33 years$1,791$1,236$833$551$359$73
34 years$1,719$1,172$779$507$325$62
35 years$1,652$1,111$728$467$294$53
36 years$1,588$1,055$681$430$267$45
37 years$1,528$1,002$637$396$242$39
38 years$1,472$952$597$365$219$33
39 years$1,418$905$559$337$199$28
40 years$1,367$861$524$310$180$24
41 years$1,319$820$492$286$163$21
42 years$1,273$781$461$264$148$18
43 years$1,230$744$433$244$135$15
44 years$1,188$709$406$225$122$13
45 years$1,149$676$381$208$111$11
46 years$1,111$645$358$192$101$9
47 years$1,075$616$336$178$91$8
48 years$1,041$588$316$164$83$7
49 years$1,008$561$297$152$75$6
50 years$976$536$279$140$69$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,000,000, adding $5,089 every year, while hoping to spend $54,498 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: 55/24/21 Blend
46$1,000,000$1,000,000$1,000,000$1,000,000
47$1,107,249$1,054,249$1,038,749$1,161,573
48$1,162,203$1,047,922$1,015,562$1,192,992
49$1,220,936$1,039,458$989,771$1,220,998
50$1,283,775$1,028,696$961,233$1,250,323
51$1,351,081$1,015,462$929,794$1,281,107
52$1,423,247$999,576$895,298$1,313,511
53$1,500,706$980,843$857,579$1,347,711
54$1,583,934$959,059$816,463$1,383,907
55$1,673,450$934,008$771,769$1,422,321
56$1,769,827$905,460$723,309$1,463,200
57$1,873,695$873,173$670,885$1,506,823
58$1,985,741$836,888$614,290$1,553,497
59$2,106,726$796,335$553,308$1,603,568
60$2,237,483$751,226$487,714$1,657,419
61$2,378,926$701,256$417,272$1,715,477
62$2,532,063$646,104$341,737$1,778,220
63$2,698,000$585,430$260,853$1,846,175
64$2,877,955$518,875$174,349$1,919,933
65$3,073,264$446,058$81,948$2,000,149
66$3,285,401$366,578$0$2,087,549
67$3,515,984$280,012$0$2,186,676
68$3,766,793$185,912$0$2,314,533
69$4,039,788$83,804$0$2,453,806
70$4,337,126$0$0$2,605,676
71$4,661,178$0$0$2,778,528
72$5,014,556$0$0$2,991,242
73$5,400,134$0$0$3,223,427
74$5,821,075$0$0$3,476,996
75$6,280,860$0$0$3,754,061
76$6,783,324$0$0$4,056,942
77$7,332,687$0$0$4,388,196
78$7,933,594$0$0$4,750,637
79$8,591,163$0$0$5,147,366
80$9,311,026$0$0$5,581,793
81$10,099,388$0$0$6,057,678
82$10,963,079$0$0$6,579,159
83$11,909,625$0$0$7,150,795
84$12,947,309$0$0$7,777,606
85$14,085,259$0$0$8,465,120
86$15,333,526$0$0$9,219,427
87$16,703,180$0$0$10,047,237
88$18,206,416$0$0$10,955,937
89$19,856,667$0$0$11,953,666
90$21,668,730$0$0$13,049,391
91$23,658,903$0$0$14,252,988
92$25,845,143$0$0$15,575,338
93$28,247,230$0$0$17,028,427
94$30,886,954$0$0$18,625,459
95$33,788,324$0$0$20,380,983
96$36,977,787$0$0$22,311,026
97$40,484,481$0$0$24,433,245
98$44,340,510$0$0$26,767,095
99$48,581,241$0$0$29,334,010
100$53,245,644$0$0$32,157,606