Can I retire at age 47 with 1,950,000?

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 $1,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$161,029$159,595$158,195$156,829$155,496$149,444
2 years$79,717$78,233$76,794$75,399$74,046$68,022
3 years$52,617$51,126$49,691$48,309$46,978$41,171
4 years$39,070$37,583$36,162$34,804$33,505$27,960
5 years$30,943$29,466$28,063$26,733$25,470$20,201
6 years$25,527$24,061$22,679$21,378$20,153$15,164
7 years$21,660$20,206$18,847$17,576$16,390$11,678
8 years$18,761$17,320$15,983$14,744$13,597$9,158
9 years$16,508$15,081$13,767$12,559$11,451$7,279
10 years$14,706$13,293$12,002$10,826$9,757$5,843
11 years$13,233$11,834$10,566$9,422$8,391$4,727
12 years$12,006$10,621$9,377$8,264$7,271$3,847
13 years$10,969$9,599$8,378$7,296$6,341$3,146
14 years$10,081$8,725$7,528$6,477$5,558$2,583
15 years$9,312$7,970$6,797$5,776$4,894$2,127
16 years$8,639$7,313$6,162$5,172$4,325$1,756
17 years$8,047$6,735$5,607$4,647$3,835$1,453
18 years$7,520$6,223$5,119$4,188$3,410$1,204
19 years$7,050$5,768$4,686$3,784$3,039$999
20 years$6,627$5,359$4,300$3,427$2,715$830
21 years$6,245$4,992$3,956$3,110$2,430$690
22 years$5,899$4,660$3,646$2,828$2,178$574
23 years$5,583$4,358$3,366$2,575$1,955$478
24 years$5,293$4,084$3,113$2,349$1,757$399
25 years$5,027$3,832$2,883$2,145$1,581$332
26 years$4,782$3,602$2,674$1,961$1,424$277
27 years$4,556$3,390$2,483$1,795$1,284$231
28 years$4,346$3,194$2,308$1,645$1,159$193
29 years$4,151$3,013$2,148$1,508$1,046$161
30 years$3,969$2,846$2,001$1,384$945$134
31 years$3,800$2,690$1,865$1,271$855$112
32 years$3,641$2,545$1,741$1,169$773$94
33 years$3,492$2,410$1,625$1,075$700$78
34 years$3,352$2,285$1,518$989$633$65
35 years$3,221$2,167$1,420$910$574$55
36 years$3,097$2,057$1,328$838$520$46
37 years$2,980$1,953$1,243$772$471$38
38 years$2,870$1,856$1,164$712$427$32
39 years$2,765$1,765$1,091$656$387$27
40 years$2,666$1,679$1,022$605$351$22
41 years$2,572$1,599$958$559$319$19
42 years$2,483$1,523$899$515$289$15
43 years$2,398$1,451$844$476$262$13
44 years$2,317$1,383$792$439$238$11
45 years$2,240$1,319$744$406$216$9
46 years$2,166$1,258$698$375$196$8
47 years$2,096$1,200$656$346$178$6
48 years$2,029$1,146$617$320$162$5
49 years$1,965$1,094$580$296$147$4
50 years$1,904$1,045$545$273$134$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,950,000, adding $5,884 every year, while hoping to spend $31,957 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: 63/26/11 Blend
46$1,950,000$1,950,000$1,950,000$1,950,000
47$2,154,969$2,051,619$2,021,394$2,284,980
48$2,340,774$2,118,147$2,055,109$2,439,188
49$2,544,460$2,186,863$2,088,882$2,603,266
50$2,767,817$2,257,841$2,122,682$2,781,624
51$3,012,817$2,331,158$2,156,474$2,975,648
52$3,281,631$2,406,892$2,190,223$3,186,862
53$3,576,652$2,485,124$2,223,890$3,416,946
54$3,900,515$2,565,939$2,257,434$3,667,746
55$4,256,121$2,649,423$2,290,812$3,941,298
56$4,646,668$2,735,668$2,323,977$4,239,839
57$5,075,678$2,824,766$2,356,880$4,565,836
58$5,547,032$2,916,814$2,389,470$4,922,002
59$6,065,003$3,011,912$2,421,691$5,311,327
60$6,634,301$3,110,163$2,453,485$5,737,100
61$7,260,112$3,211,674$2,484,790$6,202,947
62$7,948,154$3,316,556$2,515,541$6,712,858
63$8,704,723$3,424,924$2,545,669$7,271,228
64$9,536,756$3,536,897$2,575,100$7,882,898
65$10,451,897$3,652,597$2,603,758$8,553,200
66$11,458,568$3,772,152$2,631,561$9,288,006
67$12,566,048$3,895,693$2,658,424$10,093,784
68$13,784,560$4,023,357$2,684,257$10,977,660
69$15,125,369$4,155,285$2,708,963$11,947,481
70$16,600,885$4,291,623$2,732,442$13,011,893
71$18,224,786$4,432,522$2,754,589$14,180,420
72$20,012,138$4,578,140$2,775,292$15,463,553
73$21,979,546$4,728,639$2,794,433$16,872,850
74$24,145,303$4,884,186$2,811,891$18,421,045
75$26,529,569$5,044,956$2,827,534$20,122,166
76$29,154,556$5,211,129$2,841,227$21,991,668
77$32,044,738$5,382,893$2,852,826$24,046,578
78$35,227,087$5,560,440$2,862,181$26,305,655
79$38,731,319$5,743,971$2,869,134$28,789,569
80$42,590,182$5,933,694$2,873,518$31,521,093
81$46,839,759$6,129,823$2,875,160$34,525,316
82$51,519,813$6,332,583$2,873,876$37,829,886
83$56,674,157$6,542,203$2,869,474$41,465,260
84$62,351,074$6,758,923$2,861,754$45,465,003
85$68,603,764$6,982,992$2,850,504$49,866,093
86$75,490,855$7,214,665$2,835,502$54,709,278
87$83,076,949$7,454,210$2,816,518$60,039,456
88$91,433,234$7,701,902$2,793,308$65,906,097
89$100,638,157$7,958,029$2,765,616$72,363,713
90$110,778,162$8,222,885$2,733,177$79,472,370
91$121,948,507$8,496,779$2,695,712$87,298,254
92$134,254,163$8,780,030$2,652,926$95,914,297
93$147,810,803$9,072,967$2,604,515$105,400,861
94$162,745,897$9,375,934$2,550,158$115,846,499
95$179,199,909$9,689,286$2,489,519$127,348,791
96$197,327,630$10,013,390$2,422,248$140,015,262
97$217,299,632$10,348,630$2,347,977$153,964,397
98$239,303,882$10,695,401$2,266,322$169,326,758
99$263,547,516$11,054,114$2,176,882$186,246,219
100$290,258,792$11,425,195$2,079,237$204,881,317