Can I retire at age 47 with 1,040,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$85,882$85,117$84,371$83,642$82,931$81,624
2 years$42,516$41,724$40,957$40,213$39,491$38,178
3 years$28,062$27,267$26,502$25,765$25,055$23,776
4 years$20,837$20,044$19,286$18,562$17,869$16,635
5 years$16,503$15,715$14,967$14,257$13,584$12,397
6 years$13,615$12,832$12,096$11,402$10,748$9,611
7 years$11,552$10,777$10,052$9,374$8,741$7,654
8 years$10,006$9,238$8,524$7,864$7,252$6,214
9 years$8,804$8,043$7,342$6,698$6,107$5,118
10 years$7,843$7,089$6,401$5,774$5,204$4,262
11 years$7,058$6,311$5,635$5,025$4,475$3,581
12 years$6,403$5,665$5,001$4,408$3,878$3,030
13 years$5,850$5,119$4,468$3,891$3,382$2,579
14 years$5,376$4,653$4,015$3,454$2,964$2,205
15 years$4,966$4,251$3,625$3,081$2,610$1,892
16 years$4,608$3,900$3,286$2,758$2,307$1,630
17 years$4,292$3,592$2,991$2,478$2,045$1,407
18 years$4,011$3,319$2,730$2,233$1,819$1,218
19 years$3,760$3,076$2,499$2,018$1,621$1,057
20 years$3,535$2,858$2,294$1,828$1,448$918
21 years$3,331$2,662$2,110$1,659$1,296$799
22 years$3,146$2,485$1,944$1,508$1,161$696
23 years$2,977$2,324$1,795$1,374$1,043$607
24 years$2,823$2,178$1,660$1,253$937$530
25 years$2,681$2,044$1,538$1,144$843$463
26 years$2,551$1,921$1,426$1,046$760$405
27 years$2,430$1,808$1,324$958$685$354
28 years$2,318$1,703$1,231$877$618$310
29 years$2,214$1,607$1,146$805$558$272
30 years$2,117$1,518$1,067$738$504$238
31 years$2,027$1,435$995$678$456$209
32 years$1,942$1,357$928$623$412$183
33 years$1,862$1,286$867$573$373$160
34 years$1,788$1,218$810$527$338$141
35 years$1,718$1,156$757$485$306$123
36 years$1,652$1,097$708$447$277$108
37 years$1,589$1,042$663$412$251$95
38 years$1,530$990$621$380$228$83
39 years$1,475$941$582$350$207$73
40 years$1,422$896$545$323$187$64
41 years$1,372$853$511$298$170$56
42 years$1,324$812$480$275$154$50
43 years$1,279$774$450$254$140$44
44 years$1,236$738$422$234$127$38
45 years$1,195$703$397$216$115$34
46 years$1,155$671$372$200$105$30
47 years$1,118$640$350$185$95$26
48 years$1,082$611$329$171$86$23
49 years$1,048$584$309$158$78$20
50 years$1,015$558$291$146$71$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,040,000, adding $4,916 every year, while hoping to spend $23,569 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: 82/11/7 Blend
46$1,040,000$1,040,000$1,040,000$1,040,000
47$1,151,151$1,096,031$1,079,911$1,244,360
48$1,243,491$1,124,659$1,091,011$1,334,663
49$1,344,460$1,153,900$1,101,692$1,430,122
50$1,454,913$1,183,759$1,111,917$1,534,191
51$1,575,792$1,214,241$1,121,644$1,647,720
52$1,708,133$1,245,350$1,130,829$1,771,642
53$1,853,079$1,277,088$1,139,429$1,906,987
54$2,011,887$1,309,459$1,147,393$2,054,888
55$2,185,941$1,342,465$1,154,673$2,216,593
56$2,376,768$1,376,107$1,161,216$2,393,477
57$2,586,047$1,410,385$1,166,965$2,587,053
58$2,815,628$1,445,298$1,171,863$2,798,990
59$3,067,549$1,480,844$1,175,847$3,031,125
60$3,344,056$1,517,022$1,178,854$3,285,480
61$3,647,619$1,553,826$1,180,816$3,564,286
62$3,980,964$1,591,251$1,181,661$3,869,997
63$4,347,091$1,629,290$1,181,314$4,205,320
64$4,749,304$1,667,936$1,179,699$4,573,233
65$5,191,246$1,707,178$1,176,732$4,977,022
66$5,676,928$1,747,004$1,172,327$5,420,303
67$6,210,769$1,787,401$1,166,394$5,907,061
68$6,797,637$1,828,354$1,158,838$6,441,688
69$7,442,898$1,869,845$1,149,561$7,029,021
70$8,152,459$1,911,853$1,138,457$7,674,392
71$8,932,833$1,954,358$1,125,419$8,383,674
72$9,791,194$1,997,332$1,110,332$9,163,337
73$10,735,444$2,040,750$1,093,076$10,020,513
74$11,774,292$2,084,580$1,073,527$10,963,058
75$12,917,334$2,128,788$1,051,554$11,999,629
76$14,175,141$2,173,338$1,027,021$13,139,767
77$15,559,362$2,218,188$999,782$14,393,981
78$17,082,832$2,263,294$969,690$15,773,854
79$18,759,692$2,308,607$936,586$17,292,149
80$20,605,527$2,354,075$900,307$18,962,929
81$22,637,505$2,399,639$860,682$20,801,692
82$24,874,547$2,445,238$817,532$22,825,513
83$27,337,500$2,490,803$770,668$25,053,211
84$30,049,335$2,536,263$719,895$27,505,519
85$33,035,364$2,581,537$665,009$30,205,289
86$36,323,480$2,626,541$605,796$33,177,699
87$39,944,417$2,671,184$542,032$36,450,495
88$43,932,042$2,715,366$473,484$40,054,253
89$48,323,673$2,758,981$399,908$44,022,666
90$53,160,433$2,801,917$321,051$48,392,863
91$58,487,637$2,844,051$236,646$53,205,758
92$64,355,217$2,885,251$146,415$58,506,439
93$70,818,200$2,925,378$50,070$64,344,591
94$77,937,217$2,964,282$0$70,774,966
95$85,779,084$3,001,803$0$77,861,839
96$94,417,427$3,037,769$0$85,672,007
97$103,933,382$3,071,996$0$94,275,020
98$114,416,353$3,104,290$0$103,751,647
99$125,964,863$3,134,443$0$114,190,893
100$138,687,479$3,162,231$0$125,690,838