Can I retire at age 47 with 840,000?

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 $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%18.1%
1 years$69,366$68,749$68,146$67,557$66,983$64,787
2 years$34,340$33,700$33,080$32,479$31,897$29,705
3 years$22,666$22,023$21,405$20,810$20,236$18,118
4 years$16,830$16,190$15,578$14,992$14,433$12,404
5 years$13,329$12,693$12,089$11,516$10,972$9,038
6 years$10,996$10,365$9,770$9,209$8,681$6,844
7 years$9,331$8,704$8,119$7,571$7,060$5,319
8 years$8,082$7,461$6,885$6,351$5,857$4,211
9 years$7,111$6,496$5,930$5,410$4,933$3,380
10 years$6,335$5,726$5,170$4,663$4,203$2,741
11 years$5,700$5,098$4,552$4,059$3,615$2,241
12 years$5,172$4,575$4,039$3,560$3,132$1,843
13 years$4,725$4,135$3,609$3,143$2,731$1,524
14 years$4,342$3,758$3,243$2,790$2,394$1,265
15 years$4,011$3,433$2,928$2,488$2,108$1,054
16 years$3,722$3,150$2,654$2,228$1,863$880
17 years$3,466$2,901$2,415$2,002$1,652$737
18 years$3,240$2,681$2,205$1,804$1,469$618
19 years$3,037$2,484$2,019$1,630$1,309$519
20 years$2,855$2,309$1,853$1,476$1,169$437
21 years$2,690$2,150$1,704$1,340$1,047$368
22 years$2,541$2,007$1,570$1,218$938$310
23 years$2,405$1,877$1,450$1,109$842$261
24 years$2,280$1,759$1,341$1,012$757$220
25 years$2,166$1,651$1,242$924$681$186
26 years$2,060$1,551$1,152$845$613$157
27 years$1,963$1,460$1,070$773$553$133
28 years$1,872$1,376$994$709$499$112
29 years$1,788$1,298$925$650$451$95
30 years$1,710$1,226$862$596$407$80
31 years$1,637$1,159$804$548$368$68
32 years$1,568$1,096$750$503$333$57
33 years$1,504$1,038$700$463$301$49
34 years$1,444$984$654$426$273$41
35 years$1,387$933$612$392$247$35
36 years$1,334$886$572$361$224$29
37 years$1,284$841$535$333$203$25
38 years$1,236$800$501$307$184$21
39 years$1,191$760$470$283$167$18
40 years$1,148$723$440$261$151$15
41 years$1,108$689$413$241$137$13
42 years$1,069$656$387$222$125$11
43 years$1,033$625$363$205$113$9
44 years$998$596$341$189$103$8
45 years$965$568$320$175$93$7
46 years$933$542$301$161$85$6
47 years$903$517$283$149$77$5
48 years$874$494$266$138$70$4
49 years$847$471$250$127$63$3
50 years$820$450$235$118$58$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $840,000, adding $2,314 every year, while hoping to spend $20,332 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: 43/50/7 Blend
46$840,000$840,000$840,000$840,000
47$928,067$883,547$870,527$966,004
48$1,001,097$905,208$878,056$1,014,214
49$1,080,894$927,248$885,157$1,064,149
50$1,168,128$949,666$891,792$1,117,773
51$1,263,534$972,457$897,925$1,175,431
52$1,367,924$995,617$903,515$1,237,502
53$1,482,191$1,019,141$908,521$1,304,403
54$1,607,317$1,043,021$912,899$1,376,594
55$1,744,385$1,067,250$916,602$1,454,579
56$1,894,587$1,091,821$919,583$1,538,916
57$2,059,236$1,116,722$921,791$1,630,219
58$2,239,779$1,141,942$923,172$1,729,163
59$2,437,808$1,167,468$923,670$1,836,491
60$2,655,078$1,193,287$923,226$1,953,024
61$2,893,520$1,219,383$921,778$2,079,665
62$3,155,263$1,245,737$919,262$2,217,407
63$3,442,653$1,272,331$915,610$2,367,348
64$3,758,271$1,299,142$910,750$2,530,695
65$4,104,963$1,326,148$904,609$2,708,778
66$4,485,862$1,353,323$897,107$2,903,063
67$4,904,423$1,380,639$888,162$3,115,166
68$5,364,449$1,408,065$877,690$3,346,868
69$5,870,130$1,435,567$865,600$3,600,130
70$6,426,083$1,463,110$851,798$3,877,114
71$7,037,395$1,490,654$836,185$4,180,204
72$7,709,671$1,518,158$818,659$4,512,024
73$8,449,084$1,545,574$799,111$4,875,470
74$9,262,438$1,572,855$777,428$5,273,730
75$10,157,228$1,599,946$753,493$5,710,321
76$11,141,712$1,626,790$727,181$6,189,116
77$12,224,989$1,653,325$698,365$6,714,385
78$13,417,086$1,679,486$666,908$7,290,836
79$14,729,048$1,705,200$632,669$7,923,655
80$16,173,049$1,730,392$595,501$8,618,560
81$17,762,499$1,754,981$555,249$9,381,851
82$19,512,176$1,778,877$511,753$10,220,474
83$21,438,365$1,801,989$464,843$11,142,085
84$23,559,007$1,824,216$414,344$12,155,119
85$25,893,874$1,845,450$360,072$13,268,878
86$28,464,750$1,865,578$301,836$14,493,609
87$31,295,641$1,884,478$239,434$15,840,610
88$34,412,998$1,902,020$172,657$17,322,332
89$37,845,970$1,918,065$101,288$18,952,499
90$41,626,675$1,932,466$25,097$20,746,237
91$45,790,505$1,945,066$0$22,720,218
92$50,376,460$1,955,697$0$24,897,014
93$55,427,515$1,964,182$0$27,294,952
94$60,991,026$1,970,331$0$29,934,498
95$67,119,177$1,973,944$0$32,840,274
96$73,869,472$1,974,806$0$36,039,417
97$81,305,277$1,972,691$0$39,561,833
98$89,496,420$1,967,358$0$43,440,486
99$98,519,847$1,958,550$0$47,711,702
100$108,460,349$1,945,997$0$52,415,519