Can I retire at age 47 with 1,030,000?

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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$85,056$84,299$83,560$82,838$82,134$78,906
2 years$42,107$41,323$40,563$39,826$39,111$35,899
3 years$27,793$27,005$26,247$25,517$24,814$21,718
4 years$20,637$19,852$19,101$18,384$17,697$14,742
5 years$16,344$15,564$14,823$14,120$13,453$10,645
6 years$13,484$12,709$11,979$11,292$10,645$7,986
7 years$11,441$10,673$9,955$9,284$8,657$6,147
8 years$9,910$9,149$8,443$7,788$7,182$4,818
9 years$8,720$7,966$7,272$6,634$6,048$3,827
10 years$7,768$7,021$6,339$5,718$5,154$3,070
11 years$6,990$6,251$5,581$4,977$4,432$2,482
12 years$6,342$5,610$4,953$4,365$3,841$2,019
13 years$5,794$5,070$4,425$3,854$3,349$1,650
14 years$5,325$4,609$3,976$3,421$2,936$1,354
15 years$4,918$4,210$3,590$3,051$2,585$1,114
16 years$4,563$3,863$3,255$2,732$2,285$919
17 years$4,250$3,557$2,962$2,454$2,026$760
18 years$3,972$3,287$2,704$2,212$1,801$629
19 years$3,724$3,046$2,475$1,999$1,605$522
20 years$3,501$2,831$2,272$1,810$1,434$433
21 years$3,299$2,637$2,089$1,643$1,283$360
22 years$3,116$2,461$1,926$1,494$1,150$299
23 years$2,949$2,302$1,778$1,360$1,033$249
24 years$2,796$2,157$1,644$1,241$928$207
25 years$2,655$2,024$1,523$1,133$835$173
26 years$2,526$1,902$1,413$1,036$752$144
27 years$2,407$1,790$1,312$948$678$120
28 years$2,296$1,687$1,219$869$612$100
29 years$2,193$1,592$1,135$797$553$83
30 years$2,097$1,503$1,057$731$499$70
31 years$2,007$1,421$985$672$451$58
32 years$1,923$1,344$919$617$408$48
33 years$1,845$1,273$858$568$370$40
34 years$1,771$1,207$802$522$335$34
35 years$1,701$1,145$750$481$303$28
36 years$1,636$1,086$701$443$275$23
37 years$1,574$1,032$657$408$249$20
38 years$1,516$981$615$376$226$16
39 years$1,461$932$576$347$205$14
40 years$1,408$887$540$320$186$11
41 years$1,359$844$506$295$168$9
42 years$1,311$804$475$272$153$8
43 years$1,266$766$446$251$139$7
44 years$1,224$730$418$232$126$6
45 years$1,183$697$393$214$114$5
46 years$1,144$664$369$198$104$4
47 years$1,107$634$347$183$94$3
48 years$1,072$605$326$169$86$3
49 years$1,038$578$306$156$78$2
50 years$1,006$552$288$144$71$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,030,000, adding $6,666 every year, while hoping to spend $57,844 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: 67/28/5 Blend
46$1,030,000$1,030,000$1,030,000$1,030,000
47$1,141,936$1,087,346$1,071,381$1,217,300
48$1,196,868$1,079,080$1,045,727$1,259,834
49$1,255,464$1,068,471$1,017,274$1,298,674
50$1,318,037$1,055,342$985,869$1,339,563
51$1,384,931$1,039,507$951,349$1,382,691
52$1,456,519$1,020,769$913,545$1,428,268
53$1,533,215$998,917$872,279$1,476,529
54$1,615,470$973,731$827,367$1,527,732
55$1,703,779$944,975$778,616$1,582,164
56$1,798,688$912,402$725,822$1,640,145
57$1,900,792$875,748$668,776$1,702,027
58$2,010,748$834,735$607,255$1,768,202
59$2,129,276$789,069$541,030$1,839,102
60$2,257,167$738,438$469,859$1,915,208
61$2,395,291$682,514$393,492$1,997,053
62$2,544,601$620,948$311,665$2,085,226
63$2,706,148$553,372$224,103$2,180,381
64$2,881,086$479,398$130,522$2,283,239
65$3,070,684$398,615$30,621$2,394,603
66$3,276,335$310,589$0$2,515,359
67$3,499,575$214,862$0$2,650,543
68$3,742,091$110,949$0$2,799,192
69$4,005,738$0$0$2,960,894
70$4,292,559$0$0$3,137,508
71$4,604,801$0$0$3,367,044
72$4,944,934$0$0$3,617,143
73$5,315,680$0$0$3,889,812
74$5,720,033$0$0$4,187,260
75$6,161,287$0$0$4,511,919
76$6,643,070$0$0$4,866,467
77$7,169,375$0$0$5,253,851
78$7,744,598$0$0$5,677,314
79$8,373,578$0$0$6,140,428
80$9,061,643$0$0$6,647,127
81$9,814,660$0$0$7,201,742
82$10,639,091$0$0$7,809,040
83$11,542,048$0$0$8,474,273
84$12,531,367$0$0$9,203,225
85$13,615,675$0$0$10,002,264
86$14,804,475$0$0$10,878,404
87$16,108,232$0$0$11,839,372
88$17,538,475$0$0$12,893,677
89$19,107,899$0$0$14,050,691
90$20,830,490$0$0$15,320,740
91$22,721,653$0$0$16,715,195
92$24,798,358$0$0$18,246,585
93$27,079,299$0$0$19,928,709
94$29,585,068$0$0$21,776,770
95$32,338,351$0$0$23,807,517
96$35,364,141$0$0$26,039,400
97$38,689,971$0$0$28,492,745
98$42,346,174$0$0$31,189,947
99$46,366,169$0$0$34,155,679
100$50,786,776$0$0$37,417,122