Can I retire at age 47 with 890,000?

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 $890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$73,495$72,841$72,202$71,579$70,970$69,170
2 years$36,384$35,706$35,050$34,413$33,795$31,994
3 years$24,015$23,334$22,679$22,049$21,441$19,694
4 years$17,832$17,153$16,505$15,885$15,292$13,613
5 years$14,123$13,448$12,808$12,201$11,625$10,018
6 years$11,651$10,982$10,351$9,757$9,198$7,666
7 years$9,886$9,222$8,602$8,022$7,481$6,023
8 years$8,563$7,905$7,295$6,729$6,206$4,822
9 years$7,534$6,883$6,283$5,732$5,226$3,915
10 years$6,712$6,067$5,478$4,941$4,453$3,213
11 years$6,040$5,401$4,823$4,300$3,830$2,658
12 years$5,480$4,848$4,280$3,772$3,319$2,215
13 years$5,006$4,381$3,824$3,330$2,894$1,855
14 years$4,601$3,982$3,436$2,956$2,537$1,560
15 years$4,250$3,638$3,102$2,636$2,234$1,317
16 years$3,943$3,338$2,812$2,360$1,974$1,115
17 years$3,673$3,074$2,559$2,121$1,750$947
18 years$3,432$2,840$2,336$1,911$1,556$805
19 years$3,218$2,632$2,139$1,727$1,387$686
20 years$3,025$2,446$1,963$1,564$1,239$585
21 years$2,851$2,278$1,805$1,420$1,109$500
22 years$2,692$2,127$1,664$1,291$994$428
23 years$2,548$1,989$1,536$1,175$892$366
24 years$2,416$1,864$1,421$1,072$802$314
25 years$2,295$1,749$1,316$979$722$269
26 years$2,183$1,644$1,221$895$650$231
27 years$2,079$1,547$1,133$819$586$198
28 years$1,984$1,458$1,054$751$529$170
29 years$1,895$1,375$980$688$477$146
30 years$1,812$1,299$913$632$431$125
31 years$1,734$1,228$851$580$390$108
32 years$1,662$1,162$794$533$353$93
33 years$1,594$1,100$742$490$319$80
34 years$1,530$1,043$693$451$289$68
35 years$1,470$989$648$415$262$59
36 years$1,414$939$606$383$237$51
37 years$1,360$892$567$352$215$43
38 years$1,310$847$531$325$195$37
39 years$1,262$806$498$300$177$32
40 years$1,217$767$467$276$160$28
41 years$1,174$730$437$255$145$24
42 years$1,133$695$410$235$132$20
43 years$1,094$662$385$217$120$18
44 years$1,057$631$361$201$109$15
45 years$1,022$602$339$185$99$13
46 years$989$574$319$171$90$11
47 years$957$548$299$158$81$10
48 years$926$523$281$146$74$8
49 years$897$499$265$135$67$7
50 years$869$477$249$125$61$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $890,000, adding $6,773 every year, while hoping to spend $27,496 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: 62/18/20 Blend
46$890,000$890,000$890,000$890,000
47$987,766$940,596$926,801$1,043,504
48$1,059,263$957,430$928,594$1,098,757
49$1,137,131$974,167$929,524$1,155,385
50$1,221,990$990,774$929,536$1,216,577
51$1,314,525$1,007,213$928,567$1,282,782
52$1,415,487$1,023,447$926,555$1,354,492
53$1,525,704$1,039,433$923,431$1,432,252
54$1,646,087$1,055,126$919,127$1,516,660
55$1,777,639$1,070,479$913,569$1,608,379
56$1,921,464$1,085,438$906,680$1,708,137
57$2,078,778$1,099,949$898,378$1,816,738
58$2,250,920$1,113,954$888,581$1,935,067
59$2,439,364$1,127,387$877,198$2,064,102
60$2,645,733$1,140,183$864,138$2,204,920
61$2,871,815$1,152,269$849,303$2,358,709
62$3,119,577$1,163,568$832,593$2,526,779
63$3,391,189$1,173,997$813,899$2,710,572
64$3,689,038$1,183,471$793,113$2,911,682
65$4,015,754$1,191,895$770,116$3,131,864
66$4,374,233$1,199,170$744,787$3,373,053
67$4,767,667$1,205,192$717,000$3,637,382
68$5,199,570$1,209,847$686,620$3,927,206
69$5,673,813$1,213,016$653,509$4,245,117
70$6,194,662$1,214,574$617,521$4,593,977
71$6,766,813$1,214,384$578,504$4,976,937
72$7,395,444$1,212,305$536,300$5,397,474
73$8,086,255$1,208,184$490,742$5,859,422
74$8,845,528$1,201,860$441,657$6,367,005
75$9,680,183$1,193,162$388,863$6,924,882
76$10,597,843$1,181,908$332,172$7,538,189
77$11,606,909$1,167,908$271,385$8,212,588
78$12,716,634$1,150,955$206,297$8,954,320
79$13,937,214$1,130,836$136,691$9,770,267
80$15,279,884$1,107,320$62,344$10,668,015
81$16,757,019$1,080,166$0$11,655,925
82$18,382,258$1,049,117$0$12,746,844
83$20,170,625$1,013,901$0$13,961,740
84$22,138,678$974,231$0$15,298,553
85$24,304,657$929,803$0$16,769,688
86$26,688,663$880,294$0$18,388,816
87$29,312,843$825,365$0$20,171,006
88$32,201,601$764,655$0$22,132,862
89$35,381,825$697,784$0$24,292,685
90$38,883,145$624,350$0$26,670,640
91$42,738,210$543,927$0$29,288,956
92$46,982,995$456,067$0$32,172,125
93$51,657,141$360,294$0$35,347,143
94$56,804,328$256,107$0$38,843,759
95$62,472,691$142,978$0$42,694,759
96$68,715,268$20,346$0$46,936,275
97$75,590,504$0$0$51,608,128
98$83,162,802$0$0$56,776,461
99$91,503,129$0$0$62,473,530
100$100,689,688$0$0$68,748,735