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%19.8%
1 years$161,029$159,595$158,195$156,829$155,496$149,385
2 years$79,717$78,233$76,794$75,399$74,046$67,964
3 years$52,617$51,126$49,691$48,309$46,978$41,117
4 years$39,070$37,583$36,162$34,804$33,505$27,909
5 years$30,943$29,466$28,063$26,733$25,470$20,153
6 years$25,527$24,061$22,679$21,378$20,153$15,120
7 years$21,660$20,206$18,847$17,576$16,390$11,638
8 years$18,761$17,320$15,983$14,744$13,597$9,121
9 years$16,508$15,081$13,767$12,559$11,451$7,244
10 years$14,706$13,293$12,002$10,826$9,757$5,812
11 years$13,233$11,834$10,566$9,422$8,391$4,699
12 years$12,006$10,621$9,377$8,264$7,271$3,822
13 years$10,969$9,599$8,378$7,296$6,341$3,123
14 years$10,081$8,725$7,528$6,477$5,558$2,562
15 years$9,312$7,970$6,797$5,776$4,894$2,109
16 years$8,639$7,313$6,162$5,172$4,325$1,740
17 years$8,047$6,735$5,607$4,647$3,835$1,438
18 years$7,520$6,223$5,119$4,188$3,410$1,191
19 years$7,050$5,768$4,686$3,784$3,039$988
20 years$6,627$5,359$4,300$3,427$2,715$820
21 years$6,245$4,992$3,956$3,110$2,430$681
22 years$5,899$4,660$3,646$2,828$2,178$566
23 years$5,583$4,358$3,366$2,575$1,955$471
24 years$5,293$4,084$3,113$2,349$1,757$392
25 years$5,027$3,832$2,883$2,145$1,581$327
26 years$4,782$3,602$2,674$1,961$1,424$272
27 years$4,556$3,390$2,483$1,795$1,284$227
28 years$4,346$3,194$2,308$1,645$1,159$189
29 years$4,151$3,013$2,148$1,508$1,046$158
30 years$3,969$2,846$2,001$1,384$945$132
31 years$3,800$2,690$1,865$1,271$855$110
32 years$3,641$2,545$1,741$1,169$773$92
33 years$3,492$2,410$1,625$1,075$700$76
34 years$3,352$2,285$1,518$989$633$64
35 years$3,221$2,167$1,420$910$574$53
36 years$3,097$2,057$1,328$838$520$44
37 years$2,980$1,953$1,243$772$471$37
38 years$2,870$1,856$1,164$712$427$31
39 years$2,765$1,765$1,091$656$387$26
40 years$2,666$1,679$1,022$605$351$22
41 years$2,572$1,599$958$559$319$18
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$10
45 years$2,240$1,319$744$406$216$9
46 years$2,166$1,258$698$375$196$7
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 $5,120 every year, while hoping to spend $51,689 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: 59/13/28 Blend
46$1,950,000$1,950,000$1,950,000$1,950,000
47$2,154,181$2,050,831$2,020,606$2,264,599
48$2,318,911$2,096,325$2,033,300$2,386,158
49$2,498,711$2,142,316$2,044,686$2,512,758
50$2,695,063$2,188,774$2,054,667$2,649,782
51$2,909,601$2,235,664$2,063,139$2,798,256
52$3,144,119$2,282,951$2,069,994$2,959,312
53$3,400,597$2,330,594$2,075,117$3,134,197
54$3,681,214$2,378,548$2,078,388$3,324,288
55$3,988,366$2,426,765$2,079,683$3,531,101
56$4,324,695$2,475,193$2,078,868$3,756,307
57$4,693,110$2,523,773$2,075,806$4,001,750
58$5,096,813$2,572,444$2,070,351$4,269,462
59$5,539,331$2,621,137$2,062,351$4,561,683
60$6,024,549$2,669,779$2,051,647$4,880,883
61$6,556,746$2,718,291$2,038,070$5,229,785
62$7,140,634$2,766,588$2,021,445$5,611,390
63$7,781,405$2,814,577$2,001,590$6,029,007
64$8,484,776$2,862,158$1,978,311$6,486,287
65$9,257,045$2,909,226$1,951,406$6,987,250
66$10,105,151$2,955,665$1,920,665$7,536,331
67$11,036,735$3,001,352$1,885,866$8,138,419
68$12,060,219$3,046,154$1,846,779$8,798,903
69$13,184,876$3,089,931$1,803,161$9,523,725
70$14,420,926$3,132,530$1,754,760$10,319,435
71$15,779,625$3,173,789$1,701,309$11,193,253
72$17,273,376$3,213,534$1,642,532$12,153,140
73$18,915,843$3,251,580$1,578,140$13,207,870
74$20,722,080$3,287,728$1,507,828$14,367,118
75$22,708,673$3,321,768$1,431,282$15,641,546
76$24,893,896$3,353,473$1,348,168$17,042,911
77$27,297,884$3,382,603$1,258,142$18,584,170
78$29,942,819$3,408,902$1,160,841$20,279,607
79$32,853,146$3,432,097$1,055,888$22,144,968
80$36,055,795$3,451,898$942,888$24,197,611
81$39,580,440$3,467,995$821,429$26,456,667
82$43,459,778$3,480,060$691,081$28,943,226
83$47,729,836$3,487,744$551,392$31,680,535
84$52,430,310$3,490,674$401,895$34,694,217
85$57,604,942$3,488,457$242,099$38,012,516
86$63,301,929$3,480,674$71,491$41,666,566
87$69,574,378$3,466,880$0$45,690,680
88$76,480,810$3,446,603$0$50,155,718
89$84,085,709$3,419,342$0$55,095,275
90$92,460,129$3,384,567$0$60,534,094
91$101,682,366$3,341,715$0$66,523,004
92$111,838,698$3,290,190$0$73,118,018
93$123,024,194$3,229,359$0$80,380,862
94$135,343,617$3,158,552$0$88,379,555
95$148,912,406$3,077,061$0$97,189,057
96$163,857,769$2,984,134$0$106,891,972
97$180,319,882$2,878,978$0$117,579,330
98$198,453,213$2,760,750$0$129,351,446
99$218,427,975$2,628,562$0$142,318,867
100$240,431,738$2,481,471$0$156,603,417