Can I retire at age 47 with 890,000?

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 $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%18.2%
1 years$73,495$72,841$72,202$71,579$70,970$68,616
2 years$36,384$35,706$35,050$34,413$33,795$31,446
3 years$24,015$23,334$22,679$22,049$21,441$19,171
4 years$17,832$17,153$16,505$15,885$15,292$13,118
5 years$14,123$13,448$12,808$12,201$11,625$9,553
6 years$11,651$10,982$10,351$9,757$9,198$7,231
7 years$9,886$9,222$8,602$8,022$7,481$5,616
8 years$8,563$7,905$7,295$6,729$6,206$4,444
9 years$7,534$6,883$6,283$5,732$5,226$3,564
10 years$6,712$6,067$5,478$4,941$4,453$2,889
11 years$6,040$5,401$4,823$4,300$3,830$2,360
12 years$5,480$4,848$4,280$3,772$3,319$1,940
13 years$5,006$4,381$3,824$3,330$2,894$1,603
14 years$4,601$3,982$3,436$2,956$2,537$1,330
15 years$4,250$3,638$3,102$2,636$2,234$1,107
16 years$3,943$3,338$2,812$2,360$1,974$924
17 years$3,673$3,074$2,559$2,121$1,750$773
18 years$3,432$2,840$2,336$1,911$1,556$648
19 years$3,218$2,632$2,139$1,727$1,387$544
20 years$3,025$2,446$1,963$1,564$1,239$457
21 years$2,851$2,278$1,805$1,420$1,109$384
22 years$2,692$2,127$1,664$1,291$994$324
23 years$2,548$1,989$1,536$1,175$892$273
24 years$2,416$1,864$1,421$1,072$802$230
25 years$2,295$1,749$1,316$979$722$194
26 years$2,183$1,644$1,221$895$650$164
27 years$2,079$1,547$1,133$819$586$138
28 years$1,984$1,458$1,054$751$529$117
29 years$1,895$1,375$980$688$477$99
30 years$1,812$1,299$913$632$431$83
31 years$1,734$1,228$851$580$390$70
32 years$1,662$1,162$794$533$353$60
33 years$1,594$1,100$742$490$319$50
34 years$1,530$1,043$693$451$289$43
35 years$1,470$989$648$415$262$36
36 years$1,414$939$606$383$237$30
37 years$1,360$892$567$352$215$26
38 years$1,310$847$531$325$195$22
39 years$1,262$806$498$300$177$18
40 years$1,217$767$467$276$160$16
41 years$1,174$730$437$255$145$13
42 years$1,133$695$410$235$132$11
43 years$1,094$662$385$217$120$9
44 years$1,057$631$361$201$109$8
45 years$1,022$602$339$185$99$7
46 years$989$574$319$171$90$6
47 years$957$548$299$158$81$5
48 years$926$523$281$146$74$4
49 years$897$499$265$135$67$3
50 years$869$477$249$125$61$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $890,000, adding $3,161 every year, while hoping to spend $43,484 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: 27/50/23 Blend
46$890,000$890,000$890,000$890,000
47$984,041$936,871$923,076$1,003,405
48$1,038,146$936,511$907,732$1,018,626
49$1,096,313$934,676$890,417$1,030,942
50$1,158,910$931,247$871,019$1,043,248
51$1,226,340$926,100$849,420$1,055,570
52$1,299,049$919,102$825,498$1,067,942
53$1,377,525$910,110$799,124$1,080,405
54$1,462,303$898,977$770,166$1,093,009
55$1,553,974$885,542$738,482$1,105,811
56$1,653,183$869,638$703,925$1,118,882
57$1,760,645$851,087$666,344$1,132,305
58$1,877,141$829,700$625,576$1,146,174
59$2,003,532$805,278$581,456$1,160,602
60$2,140,765$777,609$533,807$1,175,718
61$2,289,881$746,470$482,448$1,191,672
62$2,452,026$711,625$427,187$1,208,635
63$2,628,460$672,822$367,825$1,226,802
64$2,820,569$629,796$304,154$1,246,400
65$3,029,880$582,269$235,956$1,267,682
66$3,258,072$529,944$163,004$1,290,940
67$3,506,992$472,508$85,061$1,316,503
68$3,778,674$409,630$1,880$1,344,745
69$4,075,359$340,962$0$1,376,086
70$4,399,509$266,133$0$1,432,327
71$4,753,840$184,755$0$1,494,559
72$5,141,338$96,414$0$1,562,991
73$5,565,294$677$0$1,638,375
74$6,029,328$0$0$1,721,546
75$6,537,429$0$0$1,870,061
76$7,093,990$0$0$2,033,295
77$7,703,847$0$0$2,212,312
78$8,372,326$0$0$2,408,695
79$9,105,296$0$0$2,624,186
80$9,909,216$0$0$2,860,707
81$10,791,205$0$0$3,120,372
82$11,759,100$0$0$3,405,511
83$12,821,538$0$0$3,718,690
84$13,988,029$0$0$4,062,736
85$15,269,051$0$0$4,440,765
86$16,676,145$0$0$4,856,207
87$18,222,028$0$0$5,312,842
88$19,920,705$0$0$5,814,834
89$21,787,608$0$0$6,366,773
90$23,839,738$0$0$6,973,713
91$26,095,824$0$0$7,641,222
92$28,576,499$0$0$8,375,437
93$31,304,499$0$0$9,183,119
94$34,304,871$0$0$10,071,716
95$37,605,211$0$0$11,049,436
96$41,235,925$0$0$12,125,321
97$45,230,514$0$0$13,309,334
98$49,625,890$0$0$14,612,455
99$54,462,722$0$0$16,046,779
100$59,785,823$0$0$17,625,636