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%17.5%
1 years$82,579$81,843$81,126$80,425$79,741$77,313
2 years$40,881$40,119$39,381$38,666$37,972$35,546
3 years$26,983$26,218$25,482$24,774$24,091$21,744
4 years$20,036$19,273$18,545$17,848$17,182$14,931
5 years$15,868$15,111$14,391$13,709$13,061$10,914
6 years$13,091$12,339$11,630$10,963$10,335$8,292
7 years$11,108$10,362$9,665$9,013$8,405$6,467
8 years$9,621$8,882$8,197$7,561$6,973$5,138
9 years$8,466$7,734$7,060$6,440$5,872$4,139
10 years$7,542$6,817$6,155$5,552$5,003$3,369
11 years$6,786$6,069$5,419$4,832$4,303$2,765
12 years$6,157$5,447$4,809$4,238$3,729$2,283
13 years$5,625$4,922$4,296$3,742$3,252$1,896
14 years$5,170$4,474$3,860$3,321$2,850$1,580
15 years$4,775$4,087$3,485$2,962$2,510$1,322
16 years$4,430$3,750$3,160$2,652$2,218$1,109
17 years$4,126$3,454$2,875$2,383$1,967$932
18 years$3,857$3,191$2,625$2,148$1,749$785
19 years$3,615$2,958$2,403$1,940$1,559$663
20 years$3,399$2,748$2,205$1,757$1,392$560
21 years$3,203$2,560$2,029$1,595$1,246$474
22 years$3,025$2,390$1,870$1,450$1,117$401
23 years$2,863$2,235$1,726$1,321$1,002$340
24 years$2,714$2,094$1,596$1,205$901$288
25 years$2,578$1,965$1,479$1,100$811$244
26 years$2,453$1,847$1,371$1,006$730$207
27 years$2,336$1,738$1,273$921$658$176
28 years$2,229$1,638$1,184$844$594$150
29 years$2,129$1,545$1,102$774$537$127
30 years$2,036$1,459$1,026$710$485$108
31 years$1,949$1,380$957$652$438$92
32 years$1,867$1,305$893$599$396$78
33 years$1,791$1,236$833$551$359$66
34 years$1,719$1,172$779$507$325$56
35 years$1,652$1,111$728$467$294$48
36 years$1,588$1,055$681$430$267$41
37 years$1,528$1,002$637$396$242$35
38 years$1,472$952$597$365$219$30
39 years$1,418$905$559$337$199$25
40 years$1,367$861$524$310$180$21
41 years$1,319$820$492$286$163$18
42 years$1,273$781$461$264$148$15
43 years$1,230$744$433$244$135$13
44 years$1,188$709$406$225$122$11
45 years$1,149$676$381$208$111$10
46 years$1,111$645$358$192$101$8
47 years$1,075$616$336$178$91$7
48 years$1,041$588$316$164$83$6
49 years$1,008$561$297$152$75$5
50 years$976$536$279$140$69$4

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 $2,179 every year, while hoping to spend $48,105 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: 60/14/26 Blend
46$1,000,000$1,000,000$1,000,000$1,000,000
47$1,104,248$1,051,248$1,035,748$1,162,658
48$1,165,698$1,051,575$1,019,262$1,203,009
49$1,231,803$1,050,307$1,000,611$1,241,644
50$1,302,988$1,047,313$979,673$1,282,773
51$1,379,719$1,042,458$956,318$1,326,650
52$1,462,507$1,035,594$930,411$1,373,556
53$1,551,914$1,026,570$901,811$1,423,801
54$1,648,557$1,015,220$870,370$1,477,731
55$1,753,116$1,001,372$835,934$1,535,728
56$1,866,337$984,843$798,341$1,598,214
57$1,989,041$965,437$757,422$1,665,659
58$2,122,129$942,949$713,002$1,738,582
59$2,266,593$917,160$664,894$1,817,556
60$2,423,524$887,840$612,907$1,903,218
61$2,594,124$854,745$556,840$1,996,271
62$2,779,712$817,614$496,481$2,097,495
63$2,981,740$776,175$431,611$2,207,751
64$3,201,809$730,139$362,001$2,327,992
65$3,441,676$679,199$287,411$2,459,271
66$3,703,278$623,030$207,590$2,602,754
67$3,988,746$561,292$122,278$2,759,731
68$4,300,425$493,623$31,202$2,931,625
69$4,640,898$419,639$0$3,120,012
70$5,013,006$338,939$0$3,344,940
71$5,419,879$251,093$0$3,600,451
72$5,864,964$155,654$0$3,880,093
73$6,352,053$52,144$0$4,186,304
74$6,885,324$0$0$4,521,770
75$7,469,378$0$0$4,898,690
76$8,109,281$0$0$5,320,532
77$8,810,611$0$0$5,782,950
78$9,579,514$0$0$6,290,006
79$10,422,757$0$0$6,846,173
80$11,347,795$0$0$7,456,379
81$12,362,836$0$0$8,126,050
82$13,476,924$0$0$8,861,166
83$14,700,022$0$0$9,668,310
84$16,043,102$0$0$10,554,737
85$17,518,252$0$0$11,528,438
86$19,138,788$0$0$12,598,215
87$20,919,379$0$0$13,773,767
88$22,876,187$0$0$15,065,777
89$25,027,014$0$0$16,486,016
90$27,391,475$0$0$18,047,449
91$29,991,180$0$0$19,764,365
92$32,849,937$0$0$21,652,502
93$35,993,977$0$0$23,729,203
94$39,452,199$0$0$26,013,574
95$43,256,445$0$0$28,526,666
96$47,441,797$0$0$31,291,675
97$52,046,912$0$0$34,334,156
98$57,114,378$0$0$37,682,268
99$62,691,125$0$0$41,367,038
100$68,828,859$0$0$45,422,651