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%20%
1 years$82,579$81,843$81,126$80,425$79,741$76,547
2 years$40,881$40,119$39,381$38,666$37,972$34,794
3 years$26,983$26,218$25,482$24,774$24,091$21,029
4 years$20,036$19,273$18,545$17,848$17,182$14,260
5 years$15,868$15,111$14,391$13,709$13,061$10,286
6 years$13,091$12,339$11,630$10,963$10,335$7,709
7 years$11,108$10,362$9,665$9,013$8,405$5,927
8 years$9,621$8,882$8,197$7,561$6,973$4,639
9 years$8,466$7,734$7,060$6,440$5,872$3,680
10 years$7,542$6,817$6,155$5,552$5,003$2,949
11 years$6,786$6,069$5,419$4,832$4,303$2,381
12 years$6,157$5,447$4,809$4,238$3,729$1,934
13 years$5,625$4,922$4,296$3,742$3,252$1,578
14 years$5,170$4,474$3,860$3,321$2,850$1,293
15 years$4,775$4,087$3,485$2,962$2,510$1,063
16 years$4,430$3,750$3,160$2,652$2,218$875
17 years$4,126$3,454$2,875$2,383$1,967$723
18 years$3,857$3,191$2,625$2,148$1,749$597
19 years$3,615$2,958$2,403$1,940$1,559$495
20 years$3,399$2,748$2,205$1,757$1,392$410
21 years$3,203$2,560$2,029$1,595$1,246$340
22 years$3,025$2,390$1,870$1,450$1,117$282
23 years$2,863$2,235$1,726$1,321$1,002$235
24 years$2,714$2,094$1,596$1,205$901$195
25 years$2,578$1,965$1,479$1,100$811$162
26 years$2,453$1,847$1,371$1,006$730$135
27 years$2,336$1,738$1,273$921$658$112
28 years$2,229$1,638$1,184$844$594$93
29 years$2,129$1,545$1,102$774$537$78
30 years$2,036$1,459$1,026$710$485$65
31 years$1,949$1,380$957$652$438$54
32 years$1,867$1,305$893$599$396$45
33 years$1,791$1,236$833$551$359$37
34 years$1,719$1,172$779$507$325$31
35 years$1,652$1,111$728$467$294$26
36 years$1,588$1,055$681$430$267$22
37 years$1,528$1,002$637$396$242$18
38 years$1,472$952$597$365$219$15
39 years$1,418$905$559$337$199$13
40 years$1,367$861$524$310$180$10
41 years$1,319$820$492$286$163$9
42 years$1,273$781$461$264$148$7
43 years$1,230$744$433$244$135$6
44 years$1,188$709$406$225$122$5
45 years$1,149$676$381$208$111$4
46 years$1,111$645$358$192$101$3
47 years$1,075$616$336$178$91$3
48 years$1,041$588$316$164$83$2
49 years$1,008$561$297$152$75$2
50 years$976$536$279$140$69$2

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 $6,400 every year, while hoping to spend $35,069 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: 59/35/6 Blend
46$1,000,000$1,000,000$1,000,000$1,000,000
47$1,108,602$1,055,602$1,040,102$1,172,328
48$1,184,366$1,070,013$1,037,632$1,230,210
49$1,266,683$1,083,955$1,033,904$1,288,712
50$1,356,183$1,097,368$1,028,839$1,351,610
51$1,453,563$1,110,188$1,022,354$1,419,328
52$1,559,585$1,122,345$1,014,361$1,492,332
53$1,675,090$1,133,768$1,004,770$1,571,136
54$1,801,005$1,144,378$993,485$1,656,308
55$1,938,347$1,154,092$980,407$1,748,473
56$2,088,238$1,162,822$965,430$1,848,321
57$2,251,911$1,170,474$948,444$1,956,613
58$2,430,725$1,176,946$929,336$2,074,189
59$2,626,175$1,182,133$907,986$2,201,975
60$2,839,908$1,185,920$884,266$2,340,991
61$3,073,737$1,188,188$858,047$2,492,364
62$3,329,657$1,188,808$829,191$2,657,335
63$3,609,866$1,187,644$797,553$2,837,277
64$3,916,785$1,184,552$762,984$3,033,699
65$4,253,080$1,179,377$725,326$3,248,269
66$4,621,685$1,171,958$684,415$3,482,826
67$5,025,834$1,162,120$640,080$3,739,397
68$5,469,087$1,149,682$592,141$4,020,220
69$5,955,366$1,134,449$540,410$4,327,762
70$6,488,991$1,116,215$484,692$4,664,744
71$7,074,721$1,094,763$424,782$5,034,167
72$7,717,797$1,069,860$360,466$5,439,341
73$8,423,992$1,041,263$291,522$5,883,917
74$9,199,667$1,008,713$217,716$6,371,920
75$10,051,829$971,935$138,804$6,907,791
76$10,988,195$930,640$54,534$7,496,426
77$12,017,270$884,520$0$8,143,224
78$13,148,421$833,251$0$8,856,408
79$14,391,969$776,490$0$9,644,150
80$15,759,285$713,873$0$10,510,215
81$17,262,897$645,017$0$11,462,608
82$18,916,606$569,517$0$12,510,153
83$20,735,619$486,943$0$13,662,580
84$22,736,692$396,842$0$14,930,618
85$24,938,284$298,737$0$16,326,092
86$27,360,736$192,122$0$17,862,042
87$30,026,459$76,464$0$19,552,844
88$32,960,145$0$0$21,414,345
89$36,189,004$0$0$23,482,814
90$39,743,014$0$0$25,792,094
91$43,655,209$0$0$28,334,212
92$47,961,988$0$0$31,132,834
93$52,703,458$0$0$34,214,033
94$57,923,813$0$0$37,606,543
95$63,671,748$0$0$41,342,023
96$70,000,924$0$0$45,455,361
97$76,970,467$0$0$49,984,996
98$84,645,532$0$0$54,973,290
99$93,097,911$0$0$60,466,920
100$102,406,717$0$0$66,517,319