Can I retire at age 47 with 840,000?

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 $840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$69,366$68,749$68,146$67,557$66,983$64,555
2 years$34,340$33,700$33,080$32,479$31,897$29,477
3 years$22,666$22,023$21,405$20,810$20,236$17,902
4 years$16,830$16,190$15,578$14,992$14,433$12,200
5 years$13,329$12,693$12,089$11,516$10,972$8,847
6 years$10,996$10,365$9,770$9,209$8,681$6,667
7 years$9,331$8,704$8,119$7,571$7,060$5,155
8 years$8,082$7,461$6,885$6,351$5,857$4,060
9 years$7,111$6,496$5,930$5,410$4,933$3,240
10 years$6,335$5,726$5,170$4,663$4,203$2,613
11 years$5,700$5,098$4,552$4,059$3,615$2,123
12 years$5,172$4,575$4,039$3,560$3,132$1,736
13 years$4,725$4,135$3,609$3,143$2,731$1,427
14 years$4,342$3,758$3,243$2,790$2,394$1,177
15 years$4,011$3,433$2,928$2,488$2,108$974
16 years$3,722$3,150$2,654$2,228$1,863$808
17 years$3,466$2,901$2,415$2,002$1,652$672
18 years$3,240$2,681$2,205$1,804$1,469$560
19 years$3,037$2,484$2,019$1,630$1,309$467
20 years$2,855$2,309$1,853$1,476$1,169$390
21 years$2,690$2,150$1,704$1,340$1,047$326
22 years$2,541$2,007$1,570$1,218$938$273
23 years$2,405$1,877$1,450$1,109$842$229
24 years$2,280$1,759$1,341$1,012$757$192
25 years$2,166$1,651$1,242$924$681$161
26 years$2,060$1,551$1,152$845$613$135
27 years$1,963$1,460$1,070$773$553$113
28 years$1,872$1,376$994$709$499$95
29 years$1,788$1,298$925$650$451$80
30 years$1,710$1,226$862$596$407$67
31 years$1,637$1,159$804$548$368$56
32 years$1,568$1,096$750$503$333$47
33 years$1,504$1,038$700$463$301$40
34 years$1,444$984$654$426$273$33
35 years$1,387$933$612$392$247$28
36 years$1,334$886$572$361$224$23
37 years$1,284$841$535$333$203$20
38 years$1,236$800$501$307$184$17
39 years$1,191$760$470$283$167$14
40 years$1,148$723$440$261$151$12
41 years$1,108$689$413$241$137$10
42 years$1,069$656$387$222$125$8
43 years$1,033$625$363$205$113$7
44 years$998$596$341$189$103$6
45 years$965$568$320$175$93$5
46 years$933$542$301$161$85$4
47 years$903$517$283$149$77$3
48 years$874$494$266$138$70$3
49 years$847$471$250$127$63$2
50 years$820$450$235$118$58$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $840,000, adding $3,736 every year, while hoping to spend $39,882 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: 73/13/14 Blend
46$840,000$840,000$840,000$840,000
47$929,534$885,014$871,994$994,301
48$981,912$885,945$858,771$1,038,610
49$1,038,296$885,586$843,769$1,081,863
50$1,099,053$883,830$826,886$1,128,175
51$1,164,584$880,566$808,015$1,177,839
52$1,235,333$875,675$787,045$1,231,178
53$1,311,785$869,031$763,859$1,288,549
54$1,394,474$860,500$738,335$1,350,346
55$1,483,988$849,942$710,346$1,417,004
56$1,580,971$837,205$679,759$1,489,003
57$1,686,133$822,131$646,434$1,566,870
58$1,800,254$804,552$610,226$1,651,191
59$1,924,194$784,288$570,982$1,742,610
60$2,058,895$761,152$528,543$1,841,837
61$2,205,396$734,942$482,743$1,949,656
62$2,364,840$705,448$433,408$2,066,933
63$2,538,483$672,444$380,357$2,194,622
64$2,727,710$635,696$323,401$2,333,777
65$2,934,043$594,951$262,341$2,485,560
66$3,159,157$549,945$196,971$2,651,253
67$3,404,896$500,398$127,075$2,832,270
68$3,673,291$446,013$52,427$3,030,172
69$3,966,577$386,478$0$3,246,681
70$4,287,215$321,462$0$3,487,763
71$4,637,913$250,616$0$3,760,068
72$5,021,654$173,570$0$4,058,104
73$5,441,723$89,935$0$4,384,461
74$5,901,737$0$0$4,741,992
75$6,405,678$0$0$5,133,942
76$6,957,933$0$0$5,577,605
77$7,563,333$0$0$6,064,002
78$8,227,198$0$0$6,597,413
79$8,955,388$0$0$7,182,550
80$9,754,357$0$0$7,824,605
81$10,631,215$0$0$8,529,297
82$11,593,793$0$0$9,302,925
83$12,650,717$0$0$10,152,427
84$13,811,489$0$0$11,085,448
85$15,086,578$0$0$12,110,408
86$16,487,514$0$0$13,236,582
87$18,027,003$0$0$14,474,190
88$19,719,039$0$0$15,834,489
89$21,579,041$0$0$17,329,882
90$23,623,996$0$0$18,974,034
91$25,872,618$0$0$20,782,000
92$28,345,529$0$0$22,770,365
93$31,065,444$0$0$24,957,405
94$34,057,393$0$0$27,363,253
95$37,348,954$0$0$30,010,094
96$40,970,513$0$0$32,922,370
97$44,955,547$0$0$36,127,013
98$49,340,945$0$0$39,653,695
99$54,167,352$0$0$43,535,114
100$59,479,551$0$0$47,807,295