Can I retire at age 47 with 1,940,000?

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 $1,940,000?

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$160,203$158,776$157,384$156,025$154,698$148,619
2 years$79,309$77,832$76,400$75,012$73,666$67,616
3 years$52,347$50,864$49,436$48,061$46,737$40,906
4 years$38,869$37,390$35,977$34,625$33,333$27,766
5 years$30,784$29,314$27,919$26,596$25,339$20,050
6 years$25,396$23,937$22,563$21,269$20,050$15,042
7 years$21,549$20,103$18,750$17,486$16,306$11,578
8 years$18,665$17,232$15,901$14,669$13,527$9,074
9 years$16,423$15,003$13,696$12,494$11,392$7,207
10 years$14,631$13,225$11,940$10,770$9,707$5,782
11 years$13,165$11,773$10,512$9,373$8,348$4,675
12 years$11,945$10,567$9,329$8,222$7,234$3,802
13 years$10,913$9,549$8,335$7,259$6,308$3,107
14 years$10,029$8,680$7,489$6,443$5,530$2,549
15 years$9,264$7,929$6,762$5,746$4,869$2,098
16 years$8,595$7,275$6,130$5,145$4,303$1,731
17 years$8,005$6,700$5,578$4,623$3,816$1,431
18 years$7,482$6,191$5,092$4,166$3,393$1,185
19 years$7,014$5,738$4,662$3,765$3,024$982
20 years$6,593$5,332$4,278$3,409$2,701$816
21 years$6,213$4,967$3,935$3,094$2,417$678
22 years$5,868$4,636$3,627$2,813$2,167$564
23 years$5,554$4,336$3,349$2,562$1,945$469
24 years$5,266$4,063$3,097$2,337$1,748$390
25 years$5,002$3,813$2,869$2,134$1,573$325
26 years$4,758$3,583$2,660$1,951$1,417$271
27 years$4,533$3,372$2,470$1,786$1,277$226
28 years$4,324$3,178$2,297$1,637$1,153$188
29 years$4,130$2,998$2,137$1,501$1,041$157
30 years$3,949$2,831$1,991$1,377$940$131
31 years$3,780$2,676$1,856$1,265$850$109
32 years$3,622$2,532$1,732$1,163$769$91
33 years$3,474$2,398$1,617$1,069$696$76
34 years$3,335$2,273$1,511$984$630$63
35 years$3,204$2,156$1,412$905$571$53
36 years$3,081$2,046$1,321$834$517$44
37 years$2,965$1,943$1,237$768$469$37
38 years$2,855$1,847$1,158$708$425$31
39 years$2,751$1,756$1,085$653$385$26
40 years$2,652$1,671$1,017$602$350$21
41 years$2,559$1,591$954$556$317$18
42 years$2,470$1,515$894$513$288$15
43 years$2,385$1,443$839$473$261$12
44 years$2,305$1,376$788$437$237$10
45 years$2,228$1,312$740$404$215$9
46 years$2,155$1,251$695$373$195$7
47 years$2,086$1,194$653$345$177$6
48 years$2,019$1,140$613$318$161$5
49 years$1,955$1,089$577$294$146$4
50 years$1,894$1,040$542$272$133$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,940,000, adding $5,788 every year, while hoping to spend $27,722 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: 57/35/8 Blend
46$1,940,000$1,940,000$1,940,000$1,940,000
47$2,143,850$2,041,030$2,010,960$2,261,803
48$2,333,027$2,111,545$2,048,831$2,412,418
49$2,540,571$2,184,585$2,087,042$2,572,834
50$2,768,325$2,260,247$2,125,575$2,746,935
51$3,018,323$2,338,627$2,164,409$2,936,033
52$3,292,800$2,419,827$2,203,525$3,141,570
53$3,594,222$2,503,955$2,242,900$3,365,130
54$3,925,303$2,591,121$2,282,508$3,608,458
55$4,289,037$2,681,438$2,322,324$3,873,473
56$4,688,716$2,775,026$2,362,320$4,162,285
57$5,127,972$2,872,009$2,402,465$4,477,219
58$5,610,804$2,972,516$2,442,726$4,820,831
59$6,141,618$3,076,682$2,483,069$5,195,935
60$6,725,268$3,184,644$2,523,457$5,605,628
61$7,367,102$3,296,548$2,563,850$6,053,320
62$8,073,013$3,412,546$2,604,205$6,542,764
63$8,849,492$3,532,792$2,644,478$7,078,092
64$9,703,693$3,657,452$2,684,621$7,663,853
65$10,643,496$3,786,693$2,724,582$8,305,055
66$11,677,585$3,920,694$2,764,308$9,007,213
67$12,815,528$4,059,636$2,803,741$9,776,400
68$14,067,865$4,203,712$2,842,820$10,619,302
69$15,446,213$4,353,120$2,881,480$11,543,284
70$16,963,371$4,508,067$2,919,653$12,556,456
71$18,633,441$4,668,768$2,957,268$13,667,748
72$20,471,961$4,835,447$2,994,246$14,886,997
73$22,496,055$5,008,337$3,030,507$16,225,039
74$24,724,589$5,187,682$3,065,965$17,693,806
75$27,178,352$5,373,734$3,100,530$19,306,442
76$29,880,253$5,566,756$3,134,106$21,077,425
77$32,855,533$5,767,021$3,166,593$23,022,704
78$36,132,008$5,974,816$3,197,885$25,159,846
79$39,740,328$6,190,437$3,227,869$27,508,203
80$43,714,266$6,414,193$3,256,427$30,089,096
81$48,091,039$6,646,406$3,283,435$32,926,008
82$52,911,657$6,887,413$3,308,763$36,044,812
83$58,221,312$7,137,561$3,332,272$39,474,012
84$64,069,800$7,397,216$3,353,818$43,245,010
85$70,511,996$7,666,756$3,373,247$47,392,400
86$77,608,370$7,946,577$3,390,401$51,954,299
87$85,425,554$8,237,090$3,405,109$56,972,698
88$94,036,976$8,538,723$3,417,196$62,493,864
89$103,523,551$8,851,924$3,426,476$68,568,770
90$113,974,443$9,177,158$3,432,753$75,253,581
91$125,487,908$9,514,910$3,435,821$82,610,174
92$138,172,220$9,865,687$3,435,467$90,706,732
93$152,146,696$10,230,015$3,431,465$99,618,374
94$167,542,817$10,608,443$3,423,577$109,427,874
95$184,505,472$11,001,545$3,411,555$120,226,432
96$203,194,327$11,409,918$3,395,138$132,114,537
97$223,785,328$11,834,183$3,374,055$145,202,915
98$246,472,364$12,274,991$3,348,019$159,613,571
99$271,469,098$12,733,018$3,316,730$175,480,938
100$299,010,979$13,208,969$3,279,874$192,953,146