Can I retire at age 47 with 1,970,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$162,681$161,232$159,818$158,438$157,091$151,037
2 years$80,535$79,035$77,582$76,172$74,805$68,778
3 years$53,157$51,650$50,200$48,804$47,459$41,649
4 years$39,470$37,968$36,533$35,161$33,848$28,299
5 years$31,260$29,768$28,351$27,007$25,731$20,457
6 years$25,789$24,308$22,912$21,598$20,360$15,364
7 years$21,883$20,413$19,040$17,757$16,558$11,839
8 years$18,954$17,498$16,147$14,896$13,737$9,290
9 years$16,677$15,235$13,908$12,688$11,568$7,388
10 years$14,857$13,429$12,125$10,937$9,857$5,934
11 years$13,369$11,955$10,675$9,518$8,477$4,804
12 years$12,129$10,730$9,474$8,349$7,346$3,913
13 years$11,082$9,697$8,464$7,371$6,406$3,202
14 years$10,184$8,814$7,605$6,543$5,615$2,631
15 years$9,407$8,052$6,866$5,835$4,944$2,168
16 years$8,728$7,388$6,225$5,225$4,370$1,791
17 years$8,129$6,804$5,665$4,694$3,875$1,483
18 years$7,598$6,287$5,171$4,231$3,445$1,230
19 years$7,122$5,827$4,734$3,823$3,071$1,021
20 years$6,695$5,414$4,345$3,462$2,743$849
21 years$6,310$5,043$3,996$3,142$2,454$707
22 years$5,959$4,708$3,683$2,857$2,200$589
23 years$5,640$4,403$3,401$2,602$1,975$491
24 years$5,347$4,125$3,145$2,373$1,775$409
25 years$5,079$3,871$2,913$2,167$1,597$341
26 years$4,831$3,639$2,702$1,982$1,439$285
27 years$4,603$3,424$2,509$1,814$1,297$238
28 years$4,391$3,227$2,332$1,662$1,170$199
29 years$4,194$3,044$2,170$1,524$1,057$166
30 years$4,010$2,875$2,022$1,399$955$138
31 years$3,839$2,718$1,885$1,285$863$116
32 years$3,678$2,571$1,758$1,180$781$97
33 years$3,528$2,435$1,642$1,086$707$81
34 years$3,387$2,308$1,534$999$640$68
35 years$3,254$2,189$1,434$919$580$56
36 years$3,129$2,078$1,342$847$525$47
37 years$3,011$1,973$1,256$780$476$39
38 years$2,899$1,875$1,176$719$432$33
39 years$2,793$1,783$1,102$663$391$28
40 years$2,693$1,697$1,033$612$355$23
41 years$2,598$1,615$968$564$322$19
42 years$2,508$1,538$908$521$292$16
43 years$2,422$1,466$852$481$265$13
44 years$2,341$1,397$800$444$241$11
45 years$2,263$1,332$751$410$219$9
46 years$2,189$1,271$706$379$198$8
47 years$2,118$1,213$663$350$180$7
48 years$2,050$1,158$623$323$164$5
49 years$1,985$1,106$586$299$149$5
50 years$1,923$1,056$550$276$135$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,970,000, adding $5,483 every year, while hoping to spend $37,340 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: 59/12/29 Blend
46$1,970,000$1,970,000$1,970,000$1,970,000
47$2,176,596$2,072,186$2,041,651$2,287,511
48$2,358,879$2,133,993$2,070,317$2,425,838
49$2,558,504$2,197,578$2,098,691$2,572,234
50$2,777,199$2,262,988$2,126,726$2,731,159
51$3,016,870$2,330,271$2,154,367$2,903,843
52$3,279,614$2,399,477$2,181,562$3,091,640
53$3,567,741$2,470,658$2,208,250$3,296,041
54$3,883,795$2,543,865$2,234,372$3,518,689
55$4,230,580$2,619,151$2,259,861$3,761,392
56$4,611,182$2,696,572$2,284,649$4,026,144
57$5,029,001$2,776,183$2,308,663$4,315,142
58$5,487,783$2,858,040$2,331,827$4,630,806
59$5,991,655$2,942,202$2,354,061$4,975,800
60$6,545,161$3,028,727$2,375,280$5,353,064
61$7,153,309$3,117,677$2,395,393$5,765,832
62$7,821,615$3,209,112$2,414,308$6,217,672
63$8,556,157$3,303,095$2,431,924$6,712,513
64$9,363,629$3,399,690$2,448,137$7,254,685
65$10,251,407$3,498,964$2,462,838$7,848,960
66$11,227,619$3,600,981$2,475,911$8,500,594
67$12,301,217$3,705,810$2,487,235$9,215,382
68$13,482,066$3,813,520$2,496,683$9,999,707
69$14,781,035$3,924,180$2,504,120$10,860,606
70$16,210,098$4,037,863$2,509,405$11,805,830
71$17,782,450$4,154,639$2,512,392$12,843,925
72$19,512,628$4,274,584$2,512,925$13,984,303
73$21,416,649$4,397,772$2,510,841$15,237,342
74$23,512,163$4,524,279$2,505,970$16,614,474
75$25,818,616$4,654,181$2,498,133$18,128,299
76$28,357,437$4,787,558$2,487,142$19,792,704
77$31,152,234$4,924,487$2,472,800$21,622,990
78$34,229,025$5,065,050$2,454,902$23,636,020
79$37,616,475$5,209,327$2,433,230$25,850,379
80$41,346,172$5,357,401$2,407,560$28,286,547
81$45,452,922$5,509,353$2,377,653$30,967,094
82$49,975,077$5,665,269$2,343,262$33,916,892
83$54,954,900$5,825,233$2,304,127$37,163,353
84$60,438,960$5,989,329$2,259,975$40,736,682
85$66,478,571$6,157,643$2,210,521$44,670,172
86$73,130,280$6,330,263$2,155,469$49,000,508
87$80,456,397$6,507,273$2,094,505$53,768,121
88$88,525,582$6,688,763$2,027,304$59,017,567
89$97,413,498$6,874,818$1,953,525$64,797,948
90$107,203,517$7,065,527$1,872,810$71,163,376
91$117,987,515$7,260,977$1,784,788$78,173,486
92$129,866,731$7,461,254$1,689,069$85,893,997
93$142,952,729$7,666,447$1,585,243$94,397,334
94$157,368,446$7,876,641$1,472,887$103,763,312
95$173,249,353$8,091,923$1,351,555$114,079,890
96$190,744,737$8,312,377$1,220,783$125,444,002
97$210,019,105$8,538,088$1,080,083$137,962,474
98$231,253,738$8,769,139$928,950$151,753,029
99$254,648,403$9,005,610$766,854$166,945,403
100$280,423,238$9,247,583$593,241$183,682,572