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

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 $1,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$162,681$161,232$159,818$158,438$157,091$155,774
2 years$80,535$79,035$77,582$76,172$74,805$73,478
3 years$53,157$51,650$50,200$48,804$47,459$46,164
4 years$39,470$37,968$36,533$35,161$33,848$32,593
5 years$31,260$29,768$28,351$27,007$25,731$24,520
6 years$25,789$24,308$22,912$21,598$20,360$19,195
7 years$21,883$20,413$19,040$17,757$16,558$15,440
8 years$18,954$17,498$16,147$14,896$13,737$12,665
9 years$16,677$15,235$13,908$12,688$11,568$10,543
10 years$14,857$13,429$12,125$10,937$9,857$8,877
11 years$13,369$11,955$10,675$9,518$8,477$7,542
12 years$12,129$10,730$9,474$8,349$7,346$6,455
13 years$11,082$9,697$8,464$7,371$6,406$5,558
14 years$10,184$8,814$7,605$6,543$5,615$4,809
15 years$9,407$8,052$6,866$5,835$4,944$4,179
16 years$8,728$7,388$6,225$5,225$4,370$3,644
17 years$8,129$6,804$5,665$4,694$3,875$3,187
18 years$7,598$6,287$5,171$4,231$3,445$2,794
19 years$7,122$5,827$4,734$3,823$3,071$2,455
20 years$6,695$5,414$4,345$3,462$2,743$2,162
21 years$6,310$5,043$3,996$3,142$2,454$1,907
22 years$5,959$4,708$3,683$2,857$2,200$1,684
23 years$5,640$4,403$3,401$2,602$1,975$1,489
24 years$5,347$4,125$3,145$2,373$1,775$1,318
25 years$5,079$3,871$2,913$2,167$1,597$1,168
26 years$4,831$3,639$2,702$1,982$1,439$1,036
27 years$4,603$3,424$2,509$1,814$1,297$920
28 years$4,391$3,227$2,332$1,662$1,170$817
29 years$4,194$3,044$2,170$1,524$1,057$726
30 years$4,010$2,875$2,022$1,399$955$645
31 years$3,839$2,718$1,885$1,285$863$574
32 years$3,678$2,571$1,758$1,180$781$511
33 years$3,528$2,435$1,642$1,086$707$455
34 years$3,387$2,308$1,534$999$640$405
35 years$3,254$2,189$1,434$919$580$361
36 years$3,129$2,078$1,342$847$525$322
37 years$3,011$1,973$1,256$780$476$287
38 years$2,899$1,875$1,176$719$432$255
39 years$2,793$1,783$1,102$663$391$228
40 years$2,693$1,697$1,033$612$355$203
41 years$2,598$1,615$968$564$322$181
42 years$2,508$1,538$908$521$292$162
43 years$2,422$1,466$852$481$265$144
44 years$2,341$1,397$800$444$241$129
45 years$2,263$1,332$751$410$219$115
46 years$2,189$1,271$706$379$198$102
47 years$2,118$1,213$663$350$180$91
48 years$2,050$1,158$623$323$164$81
49 years$1,985$1,106$586$299$149$73
50 years$1,923$1,056$550$276$135$65

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 $3,999 every year, while hoping to spend $20,535 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: 60/32/8 Blend
46$1,970,000$1,970,000$1,970,000$1,970,000
47$2,175,065$2,070,655$2,040,120$2,301,579
48$2,375,073$2,150,268$2,086,615$2,466,460
49$2,594,793$2,233,094$2,133,979$2,643,512
50$2,836,214$2,319,268$2,182,220$2,836,112
51$3,101,528$2,408,933$2,231,345$3,045,757
52$3,393,149$2,502,236$2,281,360$3,274,092
53$3,713,737$2,599,331$2,332,272$3,522,928
54$4,066,220$2,700,381$2,384,085$3,794,258
55$4,453,828$2,805,552$2,436,805$4,090,274
56$4,880,116$2,915,023$2,490,436$4,413,385
57$5,349,004$3,028,975$2,544,982$4,766,245
58$5,864,809$3,147,601$2,600,445$5,151,774
59$6,432,287$3,271,101$2,656,828$5,573,183
60$7,056,680$3,399,685$2,714,131$6,034,009
61$7,743,763$3,533,570$2,772,356$6,538,145
62$8,499,898$3,672,986$2,831,501$7,089,872
63$9,332,096$3,818,171$2,891,565$7,693,908
64$10,248,082$3,969,374$2,952,545$8,355,443
65$11,256,369$4,126,856$3,014,437$9,080,193
66$12,366,335$4,290,888$3,077,237$9,874,449
67$13,588,314$4,461,755$3,140,938$10,745,141
68$14,933,695$4,639,754$3,205,532$11,699,897
69$16,415,025$4,825,194$3,271,010$12,747,117
70$18,046,130$5,018,402$3,337,362$13,896,051
71$19,842,246$5,219,715$3,404,575$15,156,885
72$21,820,162$5,429,487$3,472,635$16,540,838
73$23,998,377$5,648,090$3,541,526$18,060,265
74$26,397,275$5,875,910$3,611,230$19,728,773
75$29,039,319$6,113,352$3,681,729$21,561,349
76$31,949,261$6,360,838$3,752,998$23,574,498
77$35,154,377$6,618,811$3,825,016$25,786,402
78$38,684,724$6,887,732$3,897,754$28,217,087
79$42,573,421$7,168,086$3,971,183$30,888,613
80$46,856,964$7,460,377$4,045,273$33,825,277
81$51,575,573$7,765,133$4,119,987$37,053,847
82$56,773,564$8,082,908$4,195,290$40,603,807
83$62,499,774$8,414,277$4,271,139$44,507,640
84$68,808,021$8,759,846$4,347,491$48,801,128
85$75,757,606$9,120,246$4,424,300$53,523,691
86$83,413,881$9,496,137$4,501,513$58,718,755
87$91,848,859$9,888,210$4,579,076$64,434,165
88$101,141,899$10,297,188$4,656,931$70,722,629
89$111,380,448$10,723,826$4,735,014$77,642,217
90$122,660,875$11,168,915$4,813,258$85,256,907
91$135,089,374$11,633,282$4,891,592$93,637,187
92$148,782,968$12,117,790$4,969,938$102,860,717
93$163,870,614$12,623,345$5,048,214$113,013,060
94$180,494,422$13,150,894$5,126,334$124,188,489
95$198,810,991$13,701,427$5,204,205$136,490,874
96$218,992,894$14,275,979$5,281,728$150,034,658
97$241,230,302$14,875,634$5,358,798$164,945,939
98$265,732,779$15,501,526$5,435,304$181,363,652
99$292,731,264$16,154,842$5,511,128$199,440,883
100$322,480,247$16,836,824$5,586,145$219,346,307