Can I retire at age 47 with 1,050,000?

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 $1,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$86,708$85,936$85,182$84,447$83,728$80,598
2 years$42,925$42,125$41,351$40,599$39,871$36,752
3 years$28,332$27,529$26,757$26,012$25,296$22,288
4 years$21,037$20,237$19,472$18,740$18,041$15,166
5 years$16,662$15,866$15,111$14,394$13,715$10,981
6 years$13,745$12,956$12,212$11,511$10,852$8,261
7 years$11,663$10,880$10,148$9,464$8,825$6,377
8 years$10,102$9,326$8,606$7,939$7,322$5,013
9 years$8,889$8,120$7,413$6,762$6,166$3,994
10 years$7,919$7,158$6,463$5,829$5,254$3,214
11 years$7,125$6,372$5,690$5,073$4,518$2,607
12 years$6,465$5,719$5,049$4,450$3,915$2,127
13 years$5,906$5,168$4,511$3,929$3,414$1,745
14 years$5,428$4,698$4,053$3,487$2,993$1,436
15 years$5,014$4,292$3,660$3,110$2,635$1,186
16 years$4,652$3,938$3,318$2,785$2,329$982
17 years$4,333$3,626$3,019$2,502$2,065$815
18 years$4,049$3,351$2,756$2,255$1,836$677
19 years$3,796$3,106$2,523$2,037$1,637$564
20 years$3,569$2,886$2,316$1,845$1,462$470
21 years$3,363$2,688$2,130$1,675$1,308$392
22 years$3,176$2,509$1,963$1,523$1,173$327
23 years$3,006$2,347$1,813$1,387$1,053$273
24 years$2,850$2,199$1,676$1,265$946$228
25 years$2,707$2,063$1,553$1,155$851$191
26 years$2,575$1,939$1,440$1,056$767$160
27 years$2,453$1,825$1,337$967$691$134
28 years$2,340$1,720$1,243$886$624$112
29 years$2,235$1,622$1,157$812$563$94
30 years$2,137$1,532$1,077$745$509$78
31 years$2,046$1,448$1,004$685$460$66
32 years$1,961$1,371$937$629$416$55
33 years$1,880$1,298$875$579$377$46
34 years$1,805$1,230$818$532$341$39
35 years$1,734$1,167$764$490$309$32
36 years$1,668$1,107$715$451$280$27
37 years$1,605$1,052$669$416$254$23
38 years$1,545$1,000$627$383$230$19
39 years$1,489$951$587$353$209$16
40 years$1,436$904$550$326$189$13
41 years$1,385$861$516$301$172$11
42 years$1,337$820$484$278$156$9
43 years$1,291$781$454$256$141$8
44 years$1,248$745$426$237$128$7
45 years$1,206$710$400$218$116$6
46 years$1,167$677$376$202$106$5
47 years$1,129$646$353$186$96$4
48 years$1,093$617$332$172$87$3
49 years$1,058$589$312$159$79$3
50 years$1,025$563$293$147$72$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,050,000, adding $3,014 every year, while hoping to spend $27,592 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: 39/38/23 Blend
46$1,050,000$1,050,000$1,050,000$1,050,000
47$1,160,209$1,104,559$1,088,284$1,197,419
48$1,249,193$1,129,325$1,095,384$1,249,368
49$1,346,328$1,154,379$1,101,797$1,302,688
50$1,452,417$1,179,707$1,107,471$1,359,791
51$1,568,343$1,205,293$1,112,351$1,421,037
52$1,695,079$1,231,117$1,116,379$1,486,825
53$1,833,695$1,257,159$1,119,496$1,557,590
54$1,985,370$1,283,398$1,121,637$1,633,817
55$2,151,401$1,309,809$1,122,736$1,716,036
56$2,333,219$1,336,365$1,122,722$1,804,837
57$2,532,398$1,363,036$1,121,523$1,900,865
58$2,750,670$1,389,792$1,119,062$2,004,835
59$2,989,944$1,416,599$1,115,257$2,117,535
60$3,252,324$1,443,418$1,110,023$2,239,833
61$3,540,125$1,470,209$1,103,273$2,372,688
62$3,855,898$1,496,929$1,094,913$2,517,156
63$4,202,452$1,523,531$1,084,845$2,674,403
64$4,582,882$1,549,964$1,072,967$2,845,715
65$5,000,596$1,576,173$1,059,172$3,032,509
66$5,459,351$1,602,099$1,043,348$3,236,350
67$5,963,283$1,627,680$1,025,378$3,458,962
68$6,516,949$1,652,847$1,005,139$3,702,247
69$7,125,369$1,677,528$982,503$3,968,305
70$7,794,074$1,701,644$957,334$4,259,449
71$8,529,158$1,725,113$929,493$4,578,232
72$9,337,332$1,747,844$898,832$4,927,466
73$10,225,994$1,769,743$865,196$5,310,258
74$11,203,292$1,790,706$828,427$5,730,030
75$12,278,203$1,810,626$788,354$6,190,557
76$13,460,618$1,829,385$744,802$6,696,001
77$14,761,435$1,846,859$697,587$7,250,955
78$16,192,663$1,862,916$646,518$7,860,480
79$17,767,531$1,877,416$591,393$8,530,158
80$19,500,617$1,890,207$532,002$9,266,145
81$21,407,983$1,901,130$468,127$10,075,228
82$23,507,327$1,910,015$399,539$10,964,892
83$25,818,149$1,916,681$325,999$11,943,389
84$28,361,937$1,920,935$247,256$13,019,818
85$31,162,367$1,922,573$163,052$14,204,210
86$34,245,527$1,921,378$73,113$15,507,629
87$37,640,165$1,917,120$0$16,942,268
88$41,377,956$1,909,553$0$18,527,186
89$45,493,805$1,898,418$0$20,291,108
90$50,026,171$1,883,439$0$22,232,491
91$55,017,437$1,864,324$0$24,369,434
92$60,514,303$1,840,763$0$26,721,883
93$66,568,230$1,812,428$0$29,311,824
94$73,235,923$1,778,971$0$32,163,488
95$80,579,870$1,740,023$0$35,303,583
96$88,668,926$1,695,194$0$38,761,546
97$97,578,968$1,644,070$0$42,569,822
98$107,393,608$1,586,215$0$46,764,170
99$118,204,981$1,521,164$0$51,384,003
100$130,114,616$1,448,429$0$56,472,761