Can I retire at age 47 with 1,920,000?

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 $1,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$158,552$157,140$155,762$154,417$153,103$148,799
2 years$78,491$77,029$75,612$74,239$72,906$68,603
3 years$51,808$50,339$48,926$47,566$46,255$42,086
4 years$38,468$37,005$35,606$34,268$32,989$28,988
5 years$30,467$29,012$27,632$26,321$25,078$21,255
6 years$25,135$23,691$22,330$21,049$19,843$16,203
7 years$21,327$19,895$18,557$17,306$16,138$12,679
8 years$18,473$17,054$15,738$14,517$13,388$10,109
9 years$16,254$14,849$13,555$12,366$11,275$8,173
10 years$14,480$13,088$11,817$10,659$9,607$6,678
11 years$13,029$11,652$10,404$9,277$8,262$5,501
12 years$11,822$10,458$9,233$8,137$7,160$4,561
13 years$10,800$9,451$8,249$7,184$6,243$3,802
14 years$9,926$8,591$7,412$6,377$5,473$3,183
15 years$9,168$7,848$6,692$5,687$4,819$2,674
16 years$8,506$7,200$6,067$5,092$4,259$2,253
17 years$7,923$6,631$5,521$4,575$3,776$1,902
18 years$7,405$6,127$5,040$4,123$3,358$1,610
19 years$6,942$5,679$4,614$3,726$2,993$1,364
20 years$6,525$5,277$4,234$3,374$2,673$1,158
21 years$6,149$4,915$3,895$3,062$2,392$984
22 years$5,808$4,588$3,590$2,784$2,144$837
23 years$5,497$4,291$3,314$2,536$1,925$713
24 years$5,212$4,021$3,065$2,313$1,730$607
25 years$4,950$3,773$2,839$2,112$1,557$518
26 years$4,709$3,546$2,633$1,931$1,402$441
27 years$4,486$3,337$2,445$1,768$1,264$377
28 years$4,279$3,145$2,273$1,620$1,141$322
29 years$4,087$2,967$2,115$1,485$1,030$275
30 years$3,908$2,802$1,970$1,363$931$234
31 years$3,741$2,649$1,837$1,252$841$200
32 years$3,585$2,506$1,714$1,151$761$171
33 years$3,438$2,373$1,600$1,058$689$146
34 years$3,301$2,249$1,495$973$624$125
35 years$3,171$2,134$1,398$896$565$107
36 years$3,049$2,025$1,308$825$512$91
37 years$2,934$1,923$1,224$760$464$78
38 years$2,825$1,828$1,146$701$421$67
39 years$2,723$1,738$1,074$646$381$57
40 years$2,625$1,654$1,006$596$346$49
41 years$2,532$1,574$944$550$314$42
42 years$2,444$1,499$885$508$285$36
43 years$2,361$1,428$831$469$258$31
44 years$2,281$1,362$780$433$235$26
45 years$2,205$1,298$732$400$213$22
46 years$2,133$1,239$688$369$193$19
47 years$2,064$1,182$646$341$176$16
48 years$1,998$1,128$607$315$159$14
49 years$1,935$1,078$571$291$145$12
50 years$1,875$1,029$536$269$132$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,920,000, adding $3,139 every year, while hoping to spend $30,260 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: 38/37/25 Blend
46$1,920,000$1,920,000$1,920,000$1,920,000
47$2,119,078$2,017,318$1,987,558$2,183,691
48$2,303,027$2,083,970$2,021,945$2,297,788
49$2,504,726$2,152,874$2,056,469$2,417,982
50$2,725,951$2,224,108$2,091,104$2,547,287
51$2,968,662$2,297,754$2,125,820$2,686,549
52$3,235,017$2,373,895$2,160,586$2,836,696
53$3,527,391$2,452,618$2,195,369$2,998,747
54$3,848,404$2,534,015$2,230,133$3,173,827
55$4,200,938$2,618,179$2,264,839$3,363,167
56$4,588,171$2,705,207$2,299,448$3,568,127
57$5,013,602$2,795,199$2,333,917$3,790,200
58$5,481,085$2,888,260$2,368,200$4,031,029
59$5,994,869$2,984,499$2,402,248$4,292,421
60$6,559,633$3,084,026$2,436,010$4,576,368
61$7,180,531$3,186,959$2,469,432$4,885,058
62$7,863,243$3,293,418$2,502,455$5,220,902
63$8,614,026$3,403,527$2,535,020$5,586,552
64$9,439,774$3,517,417$2,567,060$5,984,930
65$10,348,082$3,635,222$2,598,508$6,419,251
66$11,347,319$3,757,081$2,629,291$6,893,054
67$12,446,706$3,883,138$2,659,333$7,410,238
68$13,656,403$4,013,544$2,688,553$7,975,094
69$14,987,603$4,148,455$2,716,866$8,592,349
70$16,452,639$4,288,030$2,744,182$9,267,206
71$18,065,103$4,432,438$2,770,407$10,005,397
72$19,839,969$4,581,853$2,795,441$10,813,235
73$21,793,736$4,736,454$2,819,178$11,697,673
74$23,944,585$4,896,428$2,841,509$12,666,366
75$26,312,549$5,061,970$2,862,316$13,727,751
76$28,919,703$5,233,280$2,881,477$14,891,117
77$31,790,369$5,410,567$2,898,863$16,166,697
78$34,951,350$5,594,048$2,914,338$17,565,765
79$38,432,180$5,783,948$2,927,760$19,100,739
80$42,265,401$5,980,501$2,938,980$20,785,299
81$46,486,876$6,183,949$2,947,839$22,634,516
82$51,136,118$6,394,544$2,954,172$24,664,991
83$56,256,672$6,612,546$2,957,807$26,895,016
84$61,896,519$6,838,228$2,958,560$29,344,743
85$68,108,534$7,071,870$2,956,242$32,036,373
86$74,950,978$7,313,766$2,950,650$34,994,366
87$82,488,057$7,564,219$2,941,575$38,245,672
88$90,790,518$7,823,545$2,928,797$41,819,983
89$99,936,323$8,092,071$2,912,085$45,750,014
90$110,011,383$8,370,138$2,891,195$50,071,811
91$121,110,369$8,658,100$2,865,874$54,825,090
92$133,337,602$8,956,322$2,835,857$60,053,611
93$146,808,044$9,265,188$2,800,864$65,805,591
94$161,648,376$9,585,094$2,760,605$72,134,159
95$177,998,197$9,916,451$2,714,772$79,097,854
96$196,011,344$10,259,688$2,663,048$86,761,180
97$215,857,338$10,615,249$2,605,097$95,195,212
98$237,722,987$10,983,597$2,540,568$104,478,268
99$261,814,152$11,365,213$2,469,097$114,696,646
100$288,357,682$11,760,595$2,390,299$125,945,437