Can I retire at age 47 with 1,980,000?

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$163,507$162,050$160,629$159,242$157,888$151,924
2 years$80,944$79,436$77,975$76,559$75,185$69,245
3 years$53,427$51,913$50,455$49,052$47,700$41,972
4 years$39,671$38,161$36,718$35,339$34,020$28,547
5 years$31,419$29,919$28,495$27,144$25,862$20,658
6 years$25,920$24,431$23,028$21,707$20,463$15,533
7 years$21,994$20,517$19,137$17,847$16,642$11,983
8 years$19,050$17,587$16,229$14,971$13,806$9,414
9 years$16,762$15,313$13,978$12,752$11,627$7,495
10 years$14,932$13,497$12,187$10,992$9,907$6,028
11 years$13,437$12,016$10,729$9,567$8,520$4,887
12 years$12,191$10,785$9,522$8,391$7,383$3,985
13 years$11,138$9,746$8,507$7,408$6,438$3,266
14 years$10,236$8,859$7,644$6,576$5,644$2,687
15 years$9,455$8,093$6,901$5,865$4,969$2,218
16 years$8,772$7,425$6,257$5,251$4,392$1,835
17 years$8,170$6,838$5,693$4,718$3,894$1,521
18 years$7,636$6,319$5,197$4,252$3,463$1,264
19 years$7,159$5,856$4,758$3,842$3,086$1,051
20 years$6,729$5,442$4,367$3,480$2,757$875
21 years$6,342$5,069$4,016$3,158$2,467$729
22 years$5,989$4,732$3,702$2,871$2,211$608
23 years$5,668$4,425$3,418$2,615$1,985$508
24 years$5,375$4,146$3,161$2,385$1,784$424
25 years$5,105$3,891$2,928$2,178$1,605$354
26 years$4,856$3,657$2,715$1,992$1,446$296
27 years$4,626$3,442$2,521$1,823$1,304$248
28 years$4,413$3,243$2,344$1,670$1,176$207
29 years$4,215$3,059$2,181$1,532$1,062$173
30 years$4,030$2,889$2,032$1,406$960$145
31 years$3,858$2,731$1,894$1,291$868$121
32 years$3,697$2,584$1,767$1,186$785$102
33 years$3,546$2,448$1,650$1,091$710$85
34 years$3,404$2,320$1,542$1,004$643$71
35 years$3,270$2,200$1,441$924$583$60
36 years$3,145$2,088$1,348$851$528$50
37 years$3,026$1,983$1,262$784$478$42
38 years$2,914$1,885$1,182$723$434$35
39 years$2,808$1,792$1,107$666$393$29
40 years$2,707$1,705$1,038$615$357$25
41 years$2,612$1,623$973$567$324$21
42 years$2,521$1,546$913$523$294$17
43 years$2,435$1,473$857$483$267$14
44 years$2,353$1,404$804$446$242$12
45 years$2,274$1,339$755$412$220$10
46 years$2,200$1,277$709$381$199$8
47 years$2,129$1,219$666$352$181$7
48 years$2,060$1,164$626$325$164$6
49 years$1,995$1,111$588$300$149$5
50 years$1,933$1,061$553$278$136$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,980,000, adding $5,062 every year, while hoping to spend $22,841 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: 20/50/30 Blend
46$1,980,000$1,980,000$1,980,000$1,980,000
47$2,187,181$2,082,241$2,051,551$2,209,987
48$2,385,971$2,159,969$2,095,976$2,309,964
49$2,604,272$2,240,739$2,141,123$2,414,482
50$2,844,050$2,324,677$2,186,993$2,525,620
51$3,107,471$2,411,914$2,233,584$2,643,924
52$3,396,920$2,502,585$2,280,897$2,769,991
53$3,715,027$2,596,833$2,328,928$2,904,474
54$4,064,687$2,694,805$2,377,674$3,048,088
55$4,449,090$2,796,655$2,427,131$3,201,616
56$4,871,750$2,902,545$2,477,293$3,365,915
57$5,336,541$3,012,642$2,528,155$3,541,924
58$5,847,729$3,127,122$2,579,709$3,730,675
59$6,410,014$3,246,167$2,631,946$3,933,295
60$7,028,575$3,369,969$2,684,856$4,151,024
61$7,709,119$3,498,727$2,738,427$4,385,220
62$8,457,933$3,632,648$2,792,648$4,637,374
63$9,281,944$3,771,949$2,847,504$4,909,123
64$10,188,785$3,916,858$2,902,978$5,202,262
65$11,186,866$4,067,609$2,959,053$5,518,763
66$12,285,455$4,224,450$3,015,709$5,860,793
67$13,494,761$4,387,639$3,072,926$6,230,730
68$14,826,037$4,557,443$3,130,679$6,631,188
69$16,291,680$4,734,145$3,188,944$7,065,039
70$17,905,350$4,918,037$3,247,692$7,535,439
71$19,682,100$5,109,425$3,306,894$8,045,856
72$21,638,516$5,308,628$3,366,517$8,600,104
73$23,792,875$5,515,981$3,426,526$9,202,376
74$26,165,316$5,731,832$3,486,882$9,857,281
75$28,778,032$5,956,546$3,547,546$10,569,889
76$31,655,476$6,190,501$3,608,474$11,345,775
77$34,824,595$6,434,096$3,669,618$12,191,072
78$38,315,083$6,687,746$3,730,929$13,112,528
79$42,159,659$6,951,883$3,792,353$14,117,563
80$46,394,380$7,226,961$3,853,832$15,214,346
81$51,058,977$7,513,452$3,915,306$16,411,861
82$56,197,232$7,811,851$3,976,709$17,719,998
83$61,857,392$8,122,674$4,037,971$19,149,639
84$68,092,622$8,446,461$4,099,019$20,712,762
85$74,961,507$8,783,775$4,159,773$22,422,551
86$82,528,607$9,135,206$4,220,152$24,293,518
87$90,865,063$9,501,370$4,280,065$26,341,639
88$100,049,272$9,882,909$4,339,419$28,584,499
89$110,167,623$10,280,497$4,398,115$31,041,463
90$121,315,315$10,694,836$4,456,047$33,733,847
91$133,597,256$11,126,662$4,513,104$36,685,125
92$147,129,050$11,576,742$4,569,167$39,921,141
93$162,038,091$12,045,880$4,624,111$43,470,357
94$178,464,763$12,534,915$4,677,805$47,364,112
95$196,563,767$13,044,724$4,730,110$51,636,919
96$216,505,581$13,576,225$4,780,878$56,326,789
97$238,478,067$14,130,378$4,829,955$61,475,581
98$262,688,248$14,708,184$4,877,177$67,129,398
99$289,364,259$15,310,694$4,922,372$73,339,018
100$318,757,499$15,939,004$4,965,357$80,160,369