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%18.8%
1 years$69,366$68,749$68,146$67,557$66,983$64,606
2 years$34,340$33,700$33,080$32,479$31,897$29,528
3 years$22,666$22,023$21,405$20,810$20,236$17,949
4 years$16,830$16,190$15,578$14,992$14,433$12,245
5 years$13,329$12,693$12,089$11,516$10,972$8,889
6 years$10,996$10,365$9,770$9,209$8,681$6,706
7 years$9,331$8,704$8,119$7,571$7,060$5,191
8 years$8,082$7,461$6,885$6,351$5,857$4,093
9 years$7,111$6,496$5,930$5,410$4,933$3,271
10 years$6,335$5,726$5,170$4,663$4,203$2,641
11 years$5,700$5,098$4,552$4,059$3,615$2,149
12 years$5,172$4,575$4,039$3,560$3,132$1,759
13 years$4,725$4,135$3,609$3,143$2,731$1,448
14 years$4,342$3,758$3,243$2,790$2,394$1,196
15 years$4,011$3,433$2,928$2,488$2,108$991
16 years$3,722$3,150$2,654$2,228$1,863$824
17 years$3,466$2,901$2,415$2,002$1,652$686
18 years$3,240$2,681$2,205$1,804$1,469$572
19 years$3,037$2,484$2,019$1,630$1,309$478
20 years$2,855$2,309$1,853$1,476$1,169$400
21 years$2,690$2,150$1,704$1,340$1,047$335
22 years$2,541$2,007$1,570$1,218$938$281
23 years$2,405$1,877$1,450$1,109$842$236
24 years$2,280$1,759$1,341$1,012$757$198
25 years$2,166$1,651$1,242$924$681$166
26 years$2,060$1,551$1,152$845$613$139
27 years$1,963$1,460$1,070$773$553$117
28 years$1,872$1,376$994$709$499$98
29 years$1,788$1,298$925$650$451$83
30 years$1,710$1,226$862$596$407$70
31 years$1,637$1,159$804$548$368$59
32 years$1,568$1,096$750$503$333$49
33 years$1,504$1,038$700$463$301$41
34 years$1,444$984$654$426$273$35
35 years$1,387$933$612$392$247$29
36 years$1,334$886$572$361$224$25
37 years$1,284$841$535$333$203$21
38 years$1,236$800$501$307$184$17
39 years$1,191$760$470$283$167$15
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$9
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$4
48 years$874$494$266$138$70$3
49 years$847$471$250$127$63$3
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 $5,184 every year, while hoping to spend $31,458 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: 53/39/8 Blend
46$840,000$840,000$840,000$840,000
47$931,027$886,507$873,487$978,269
48$992,521$896,475$869,278$1,020,859
49$1,059,233$905,877$863,873$1,063,303
50$1,131,662$914,652$857,200$1,108,726
51$1,210,356$922,735$849,182$1,157,418
52$1,295,921$930,057$839,737$1,209,695
53$1,389,019$936,545$828,783$1,265,909
54$1,490,382$942,119$816,231$1,326,447
55$1,600,815$946,696$801,988$1,391,737
56$1,721,201$950,187$785,958$1,462,252
57$1,852,516$952,498$768,039$1,538,515
58$1,995,831$953,529$748,127$1,621,100
59$2,152,326$953,173$726,110$1,710,646
60$2,323,301$951,316$701,872$1,807,854
61$2,510,185$947,838$675,293$1,913,501
62$2,714,554$942,612$646,245$2,028,445
63$2,938,141$935,502$614,596$2,153,631
64$3,182,855$926,365$580,209$2,290,105
65$3,450,798$915,049$542,938$2,439,020
66$3,744,284$901,392$502,631$2,601,650
67$4,065,864$885,223$459,132$2,779,400
68$4,418,345$866,361$412,275$2,973,823
69$4,804,818$844,614$361,888$3,186,632
70$5,228,688$819,780$307,791$3,419,719
71$5,693,708$791,643$249,796$3,675,170
72$6,204,008$759,975$187,706$3,955,290
73$6,764,139$724,536$121,316$4,262,621
74$7,379,115$685,072$50,413$4,599,970
75$8,054,456$641,312$0$4,970,432
76$8,796,246$592,972$0$5,379,582
77$9,611,187$539,751$0$5,833,765
78$10,506,659$481,330$0$6,332,857
79$11,490,797$417,373$0$6,881,468
80$12,572,559$347,525$0$7,484,688
81$13,761,816$271,410$0$8,148,126
82$15,069,443$188,631$0$8,877,974
83$16,507,422$98,770$0$9,681,056
84$18,088,953$1,383$0$10,564,901
85$19,828,580$0$0$11,537,815
86$21,742,327$0$0$12,653,583
87$23,847,850$0$0$13,881,909
88$26,164,603$0$0$15,233,562
89$28,714,019$0$0$16,721,058
90$31,519,715$0$0$18,358,188
91$34,607,713$0$0$20,160,151
92$38,006,687$0$0$22,143,692
93$41,748,228$0$0$24,327,260
94$45,867,150$0$0$26,731,187
95$50,401,811$0$0$29,377,875
96$55,394,479$0$0$32,292,008
97$60,891,726$0$0$35,500,787
98$66,944,873$0$0$39,034,184
99$73,610,470$0$0$42,925,225
100$80,950,831$0$0$47,210,303