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%14.7%
1 years$161,029$159,595$158,195$156,829$155,496$152,481
2 years$79,717$78,233$76,794$75,399$74,046$71,020
3 years$52,617$51,126$49,691$48,309$46,978$44,036
4 years$39,070$37,583$36,162$34,804$33,505$30,670
5 years$30,943$29,466$28,063$26,733$25,470$22,750
6 years$25,527$24,061$22,679$21,378$20,153$17,551
7 years$21,660$20,206$18,847$17,576$16,390$13,906
8 years$18,761$17,320$15,983$14,744$13,597$11,231
9 years$16,508$15,081$13,767$12,559$11,451$9,201
10 years$14,706$13,293$12,002$10,826$9,757$7,621
11 years$13,233$11,834$10,566$9,422$8,391$6,367
12 years$12,006$10,621$9,377$8,264$7,271$5,356
13 years$10,969$9,599$8,378$7,296$6,341$4,531
14 years$10,081$8,725$7,528$6,477$5,558$3,850
15 years$9,312$7,970$6,797$5,776$4,894$3,284
16 years$8,639$7,313$6,162$5,172$4,325$2,811
17 years$8,047$6,735$5,607$4,647$3,835$2,412
18 years$7,520$6,223$5,119$4,188$3,410$2,074
19 years$7,050$5,768$4,686$3,784$3,039$1,787
20 years$6,627$5,359$4,300$3,427$2,715$1,542
21 years$6,245$4,992$3,956$3,110$2,430$1,333
22 years$5,899$4,660$3,646$2,828$2,178$1,153
23 years$5,583$4,358$3,366$2,575$1,955$999
24 years$5,293$4,084$3,113$2,349$1,757$866
25 years$5,027$3,832$2,883$2,145$1,581$751
26 years$4,782$3,602$2,674$1,961$1,424$652
27 years$4,556$3,390$2,483$1,795$1,284$566
28 years$4,346$3,194$2,308$1,645$1,159$492
29 years$4,151$3,013$2,148$1,508$1,046$428
30 years$3,969$2,846$2,001$1,384$945$372
31 years$3,800$2,690$1,865$1,271$855$324
32 years$3,641$2,545$1,741$1,169$773$282
33 years$3,492$2,410$1,625$1,075$700$245
34 years$3,352$2,285$1,518$989$633$214
35 years$3,221$2,167$1,420$910$574$186
36 years$3,097$2,057$1,328$838$520$162
37 years$2,980$1,953$1,243$772$471$141
38 years$2,870$1,856$1,164$712$427$123
39 years$2,765$1,765$1,091$656$387$107
40 years$2,666$1,679$1,022$605$351$93
41 years$2,572$1,599$958$559$319$81
42 years$2,483$1,523$899$515$289$71
43 years$2,398$1,451$844$476$262$62
44 years$2,317$1,383$792$439$238$54
45 years$2,240$1,319$744$406$216$47
46 years$2,166$1,258$698$375$196$41
47 years$2,096$1,200$656$346$178$36
48 years$2,029$1,146$617$320$162$31
49 years$1,965$1,094$580$296$147$27
50 years$1,904$1,045$545$273$134$24

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 $6,954 every year, while hoping to spend $44,328 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: 46/32/22 Blend
46$1,950,000$1,950,000$1,950,000$1,950,000
47$2,156,073$2,052,723$2,022,498$2,241,368
48$2,328,828$2,106,142$2,043,087$2,355,356
49$2,517,718$2,160,692$2,062,880$2,474,024
50$2,724,342$2,216,384$2,081,804$2,601,870
51$2,950,462$2,273,223$2,099,781$2,739,773
52$3,198,015$2,331,217$2,116,729$2,888,697
53$3,469,136$2,390,370$2,132,564$3,049,709
54$3,766,177$2,450,687$2,147,194$3,223,980
55$4,091,727$2,512,171$2,160,524$3,412,802
56$4,448,636$2,574,820$2,172,455$3,617,599
57$4,840,047$2,638,636$2,182,882$3,839,938
58$5,269,417$2,703,615$2,191,694$4,081,548
59$5,740,557$2,769,752$2,198,775$4,344,331
60$6,257,664$2,837,039$2,204,004$4,630,385
61$6,825,360$2,905,469$2,207,253$4,942,021
62$7,448,738$2,975,027$2,208,386$5,281,786
63$8,133,406$3,045,701$2,207,265$5,652,488
64$8,885,545$3,117,472$2,203,740$6,057,218
65$9,711,962$3,190,320$2,197,656$6,499,387
66$10,620,157$3,264,220$2,188,852$6,982,750
67$11,618,390$3,339,144$2,177,157$7,511,448
68$12,715,766$3,415,062$2,162,391$8,090,043
69$13,922,311$3,491,937$2,144,368$8,723,566
70$15,249,074$3,569,729$2,122,892$9,417,559
71$16,708,228$3,648,394$2,097,757$10,178,130
72$18,313,184$3,727,882$2,068,748$11,012,013
73$20,078,717$3,808,137$2,035,640$11,926,628
74$22,021,109$3,889,099$1,998,197$12,930,155
75$24,158,298$3,970,700$1,956,172$14,031,608
76$26,510,047$4,052,867$1,909,307$15,240,923
77$29,098,134$4,135,520$1,857,331$16,569,051
78$31,946,554$4,218,571$1,799,962$18,028,062
79$35,081,746$4,301,924$1,736,904$19,631,260
80$38,532,842$4,385,476$1,667,847$21,393,306
81$42,331,941$4,469,113$1,592,470$23,330,363
82$46,514,414$4,552,715$1,510,433$25,460,242
83$51,119,235$4,636,148$1,421,382$27,802,576
84$56,189,348$4,719,271$1,324,950$30,379,002
85$61,772,075$4,801,929$1,220,750$33,213,370
86$67,919,561$4,883,957$1,108,378$36,331,966
87$74,689,261$4,965,177$987,415$39,763,761
88$82,144,491$5,045,396$857,419$43,540,686
89$90,355,018$5,124,409$717,931$47,697,933
90$99,397,720$5,201,995$568,472$52,274,292
91$109,357,312$5,277,917$408,540$57,312,513
92$120,327,145$5,351,922$237,613$62,859,713
93$132,410,085$5,423,738$55,144$68,967,823
94$145,719,487$5,493,074$0$75,694,078
95$160,380,260$5,559,620$0$83,134,323
96$176,530,049$5,623,044$0$91,341,260
97$194,320,534$5,682,993$0$100,378,700
98$213,918,858$5,739,089$0$110,331,243
99$235,509,205$5,790,928$0$121,292,121
100$259,294,543$5,838,083$0$133,364,076