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%18.5%
1 years$162,681$161,232$159,818$158,438$157,091$151,698
2 years$80,535$79,035$77,582$76,172$74,805$69,427
3 years$53,157$51,650$50,200$48,804$47,459$42,265
4 years$39,470$37,968$36,533$35,161$33,848$28,877
5 years$31,260$29,768$28,351$27,007$25,731$20,996
6 years$25,789$24,308$22,912$21,598$20,360$15,865
7 years$21,883$20,413$19,040$17,757$16,558$12,303
8 years$18,954$17,498$16,147$14,896$13,737$9,717
9 years$16,677$15,235$13,908$12,688$11,568$7,779
10 years$14,857$13,429$12,125$10,937$9,857$6,293
11 years$13,369$11,955$10,675$9,518$8,477$5,131
12 years$12,129$10,730$9,474$8,349$7,346$4,209
13 years$11,082$9,697$8,464$7,371$6,406$3,471
14 years$10,184$8,814$7,605$6,543$5,615$2,874
15 years$9,407$8,052$6,866$5,835$4,944$2,387
16 years$8,728$7,388$6,225$5,225$4,370$1,988
17 years$8,129$6,804$5,665$4,694$3,875$1,659
18 years$7,598$6,287$5,171$4,231$3,445$1,387
19 years$7,122$5,827$4,734$3,823$3,071$1,162
20 years$6,695$5,414$4,345$3,462$2,743$974
21 years$6,310$5,043$3,996$3,142$2,454$818
22 years$5,959$4,708$3,683$2,857$2,200$687
23 years$5,640$4,403$3,401$2,602$1,975$577
24 years$5,347$4,125$3,145$2,373$1,775$486
25 years$5,079$3,871$2,913$2,167$1,597$409
26 years$4,831$3,639$2,702$1,982$1,439$344
27 years$4,603$3,424$2,509$1,814$1,297$290
28 years$4,391$3,227$2,332$1,662$1,170$244
29 years$4,194$3,044$2,170$1,524$1,057$206
30 years$4,010$2,875$2,022$1,399$955$173
31 years$3,839$2,718$1,885$1,285$863$146
32 years$3,678$2,571$1,758$1,180$781$123
33 years$3,528$2,435$1,642$1,086$707$104
34 years$3,387$2,308$1,534$999$640$88
35 years$3,254$2,189$1,434$919$580$74
36 years$3,129$2,078$1,342$847$525$62
37 years$3,011$1,973$1,256$780$476$53
38 years$2,899$1,875$1,176$719$432$44
39 years$2,793$1,783$1,102$663$391$37
40 years$2,693$1,697$1,033$612$355$32
41 years$2,598$1,615$968$564$322$27
42 years$2,508$1,538$908$521$292$23
43 years$2,422$1,466$852$481$265$19
44 years$2,341$1,397$800$444$241$16
45 years$2,263$1,332$751$410$219$14
46 years$2,189$1,271$706$379$198$11
47 years$2,118$1,213$663$350$180$10
48 years$2,050$1,158$623$323$164$8
49 years$1,985$1,106$586$299$149$7
50 years$1,923$1,056$550$276$135$6

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 $4,353 every year, while hoping to spend $30,141 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: 38/34/28 Blend
46$1,970,000$1,970,000$1,970,000$1,970,000
47$2,175,430$2,071,020$2,040,485$2,239,818
48$2,365,254$2,140,430$2,076,772$2,356,934
49$2,573,430$2,212,231$2,113,263$2,480,344
50$2,801,798$2,286,509$2,149,936$2,613,147
51$3,052,385$2,363,351$2,186,762$2,756,215
52$3,327,422$2,442,849$2,223,713$2,910,509
53$3,629,370$2,525,100$2,260,758$3,077,082
54$3,960,937$2,610,201$2,297,864$3,257,095
55$4,325,107$2,698,255$2,334,997$3,451,825
56$4,725,167$2,789,369$2,372,119$3,662,674
57$5,164,739$2,883,653$2,409,189$3,891,188
58$5,647,811$2,981,221$2,446,166$4,139,065
59$6,178,779$3,082,192$2,483,005$4,408,175
60$6,762,486$3,186,690$2,519,656$4,700,576
61$7,404,264$3,294,843$2,556,069$5,018,534
62$8,109,992$3,406,783$2,592,191$5,364,540
63$8,886,145$3,522,649$2,627,963$5,741,339
64$9,739,857$3,642,584$2,663,325$6,151,953
65$10,678,988$3,766,737$2,698,212$6,599,707
66$11,712,199$3,895,261$2,732,556$7,088,263
67$12,849,033$4,028,318$2,766,286$7,621,655
68$14,100,002$4,166,073$2,799,324$8,204,321
69$15,476,691$4,308,700$2,831,591$8,841,152
70$16,991,866$4,456,378$2,863,001$9,537,532
71$18,659,589$4,609,294$2,893,465$10,299,392
72$20,495,359$4,767,641$2,922,887$11,133,263
73$22,516,250$4,931,621$2,951,169$12,046,339
74$24,741,080$5,101,442$2,978,205$13,046,542
75$27,190,579$5,277,321$3,003,884$14,142,601
76$29,887,593$5,459,485$3,028,089$15,344,129
77$32,857,295$5,648,168$3,050,698$16,661,716
78$36,127,424$5,843,612$3,071,581$18,107,026
79$39,728,544$6,046,072$3,090,602$19,692,911
80$43,694,337$6,255,811$3,107,618$21,433,527
81$48,061,915$6,473,101$3,122,479$23,344,470
82$52,872,174$6,698,228$3,135,026$25,442,921
83$58,170,181$6,931,486$3,145,095$27,747,809
84$64,005,593$7,173,182$3,152,509$30,279,989
85$70,433,132$7,423,636$3,157,086$33,062,437
86$77,513,097$7,683,180$3,158,634$36,120,466
87$85,311,936$7,952,159$3,156,952$39,481,968
88$93,902,870$8,230,932$3,151,826$43,177,671
89$103,366,587$8,519,871$3,143,037$47,241,433
90$113,792,000$8,819,366$3,130,350$51,710,559
91$125,277,089$9,129,820$3,113,521$56,626,152
92$137,929,824$9,451,653$3,092,296$62,033,502
93$151,869,183$9,785,301$3,066,405$67,982,511
94$167,226,278$10,131,220$3,035,568$74,528,165
95$184,145,590$10,489,881$2,999,491$81,731,048
96$202,786,332$10,861,777$2,957,866$89,657,922
97$223,323,953$11,247,419$2,910,370$98,382,345
98$245,951,794$11,647,341$2,856,665$107,985,374
99$270,882,912$12,062,095$2,796,398$118,556,324
100$298,352,092$12,492,260$2,729,200$130,193,612