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

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$163,507$162,050$160,629$159,242$157,888$153,202
2 years$80,944$79,436$77,975$76,559$75,185$70,503
3 years$53,427$51,913$50,455$49,052$47,700$43,169
4 years$39,671$38,161$36,718$35,339$34,020$29,674
5 years$31,419$29,919$28,495$27,144$25,862$21,712
6 years$25,920$24,431$23,028$21,707$20,463$16,515
7 years$21,994$20,517$19,137$17,847$16,642$12,894
8 years$19,050$17,587$16,229$14,971$13,806$10,256
9 years$16,762$15,313$13,978$12,752$11,627$8,272
10 years$14,932$13,497$12,187$10,992$9,907$6,741
11 years$13,437$12,016$10,729$9,567$8,520$5,539
12 years$12,191$10,785$9,522$8,391$7,383$4,581
13 years$11,138$9,746$8,507$7,408$6,438$3,808
14 years$10,236$8,859$7,644$6,576$5,644$3,179
15 years$9,455$8,093$6,901$5,865$4,969$2,663
16 years$8,772$7,425$6,257$5,251$4,392$2,237
17 years$8,170$6,838$5,693$4,718$3,894$1,884
18 years$7,636$6,319$5,197$4,252$3,463$1,589
19 years$7,159$5,856$4,758$3,842$3,086$1,343
20 years$6,729$5,442$4,367$3,480$2,757$1,137
21 years$6,342$5,069$4,016$3,158$2,467$963
22 years$5,989$4,732$3,702$2,871$2,211$816
23 years$5,668$4,425$3,418$2,615$1,985$693
24 years$5,375$4,146$3,161$2,385$1,784$588
25 years$5,105$3,891$2,928$2,178$1,605$500
26 years$4,856$3,657$2,715$1,992$1,446$425
27 years$4,626$3,442$2,521$1,823$1,304$362
28 years$4,413$3,243$2,344$1,670$1,176$308
29 years$4,215$3,059$2,181$1,532$1,062$262
30 years$4,030$2,889$2,032$1,406$960$223
31 years$3,858$2,731$1,894$1,291$868$190
32 years$3,697$2,584$1,767$1,186$785$162
33 years$3,546$2,448$1,650$1,091$710$138
34 years$3,404$2,320$1,542$1,004$643$117
35 years$3,270$2,200$1,441$924$583$100
36 years$3,145$2,088$1,348$851$528$85
37 years$3,026$1,983$1,262$784$478$73
38 years$2,914$1,885$1,182$723$434$62
39 years$2,808$1,792$1,107$666$393$53
40 years$2,707$1,705$1,038$615$357$45
41 years$2,612$1,623$973$567$324$38
42 years$2,521$1,546$913$523$294$33
43 years$2,435$1,473$857$483$267$28
44 years$2,353$1,404$804$446$242$24
45 years$2,274$1,339$755$412$220$20
46 years$2,200$1,277$709$381$199$17
47 years$2,129$1,219$666$352$181$15
48 years$2,060$1,164$626$325$164$13
49 years$1,995$1,111$588$300$149$11
50 years$1,933$1,061$553$278$136$9

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 $3,364 every year, while hoping to spend $21,465 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: 63/14/23 Blend
46$1,980,000$1,980,000$1,980,000$1,980,000
47$2,185,430$2,080,490$2,049,800$2,309,772
48$2,385,505$2,159,595$2,095,630$2,473,261
49$2,605,269$2,241,858$2,142,275$2,649,060
50$2,846,706$2,327,408$2,189,741$2,840,585
51$3,112,005$2,416,386$2,238,032$3,049,378
52$3,403,574$2,508,934$2,287,151$3,277,133
53$3,724,069$2,605,202$2,337,101$3,525,715
54$4,076,414$2,705,347$2,387,884$3,797,179
55$4,463,832$2,809,533$2,439,502$4,093,787
56$4,889,873$2,917,930$2,491,956$4,418,028
57$5,358,448$3,030,717$2,545,244$4,772,645
58$5,873,867$3,148,079$2,599,367$5,160,655
59$6,440,877$3,270,210$2,654,321$5,585,384
60$7,064,711$3,397,315$2,710,105$6,050,493
61$7,751,131$3,529,603$2,766,714$6,560,014
62$8,506,490$3,667,298$2,824,142$7,118,387
63$9,337,785$3,810,628$2,882,384$7,730,503
64$10,252,727$3,959,836$2,941,431$8,401,750
65$11,259,811$4,115,174$3,001,275$9,138,059
66$12,368,398$4,276,904$3,061,905$9,945,967
67$13,588,805$4,445,302$3,123,308$10,832,672
68$14,932,396$4,620,655$3,185,472$11,806,104
69$16,411,695$4,803,262$3,248,380$12,875,000
70$18,040,503$4,993,437$3,312,016$14,048,980
71$19,834,026$5,191,507$3,376,360$15,338,647
72$21,809,021$5,397,815$3,441,392$16,755,679
73$23,983,950$5,612,717$3,507,088$18,312,942
74$26,379,160$5,836,588$3,573,423$20,024,610
75$29,017,070$6,069,816$3,640,368$21,906,297
76$31,922,385$6,312,811$3,707,895$23,975,210
77$35,122,328$6,565,998$3,775,968$26,250,302
78$38,646,896$6,829,823$3,844,554$28,752,457
79$42,529,147$7,104,751$3,913,614$31,504,683
80$46,805,505$7,391,269$3,983,105$34,532,332
81$51,516,111$7,689,886$4,052,983$37,863,336
82$56,705,196$8,001,133$4,123,201$41,528,469
83$62,421,504$8,325,565$4,193,705$45,561,641
84$68,718,744$8,663,765$4,264,442$50,000,213
85$75,656,106$9,016,340$4,335,350$54,885,354
86$83,298,813$9,383,924$4,406,368$60,262,423
87$91,718,737$9,767,182$4,477,427$66,181,400
88$100,995,083$10,166,808$4,548,455$72,697,359
89$111,215,128$10,583,529$4,619,375$79,870,981
90$122,475,052$11,018,103$4,690,106$87,769,132
91$134,880,842$11,471,324$4,760,559$96,465,492
92$148,549,292$11,944,024$4,830,642$106,041,245
93$163,609,109$12,437,069$4,900,257$116,585,852
94$180,202,121$12,951,370$4,969,299$128,197,888
95$198,484,626$13,487,874$5,037,659$140,985,976
96$218,628,855$14,047,578$5,105,217$155,069,809
97$240,824,607$14,631,518$5,171,851$170,581,280
98$265,281,038$15,240,784$5,237,429$187,665,726
99$292,228,633$15,876,511$5,301,812$206,483,298
100$321,921,384$16,539,890$5,364,854$227,210,472