Can I retire at age 47 with 930,000?

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 $930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$76,799$76,114$75,447$74,796$74,160$73,847
2 years$38,019$37,311$36,625$35,959$35,314$34,999
3 years$25,094$24,383$23,699$23,040$22,405$22,096
4 years$18,633$17,924$17,247$16,599$15,979$15,680
5 years$14,757$14,053$13,384$12,749$12,147$11,858
6 years$12,175$11,475$10,816$10,196$9,612$9,333
7 years$10,330$9,637$8,988$8,383$7,817$7,548
8 years$8,948$8,261$7,623$7,032$6,485$6,227
9 years$7,873$7,192$6,566$5,990$5,461$5,214
10 years$7,014$6,340$5,724$5,163$4,653$4,416
11 years$6,311$5,644$5,039$4,493$4,002$3,775
12 years$5,726$5,066$4,472$3,941$3,468$3,251
13 years$5,231$4,578$3,996$3,480$3,024$2,817
14 years$4,808$4,161$3,590$3,089$2,651$2,454
15 years$4,441$3,801$3,241$2,755$2,334$2,146
16 years$4,120$3,488$2,939$2,467$2,063$1,884
17 years$3,838$3,212$2,674$2,216$1,829$1,659
18 years$3,587$2,968$2,441$1,997$1,626$1,465
19 years$3,362$2,751$2,235$1,805$1,450$1,297
20 years$3,161$2,556$2,051$1,634$1,295$1,150
21 years$2,979$2,381$1,887$1,483$1,159$1,022
22 years$2,813$2,222$1,739$1,349$1,039$909
23 years$2,662$2,079$1,605$1,228$932$810
24 years$2,524$1,948$1,485$1,120$838$723
25 years$2,398$1,828$1,375$1,023$754$645
26 years$2,281$1,718$1,275$935$679$577
27 years$2,173$1,617$1,184$856$612$516
28 years$2,073$1,523$1,101$785$553$462
29 years$1,980$1,437$1,025$719$499$414
30 years$1,893$1,357$954$660$451$371
31 years$1,812$1,283$890$606$408$333
32 years$1,736$1,214$830$557$369$299
33 years$1,665$1,150$775$512$334$268
34 years$1,599$1,090$724$472$302$241
35 years$1,536$1,033$677$434$274$216
36 years$1,477$981$633$400$248$194
37 years$1,421$932$593$368$225$175
38 years$1,369$885$555$339$204$157
39 years$1,319$842$520$313$185$141
40 years$1,271$801$488$289$168$127
41 years$1,227$762$457$266$152$114
42 years$1,184$726$429$246$138$103
43 years$1,144$692$402$227$125$92
44 years$1,105$659$378$210$114$83
45 years$1,068$629$355$194$103$75
46 years$1,033$600$333$179$94$67
47 years$1,000$573$313$165$85$61
48 years$968$547$294$153$77$55
49 years$937$522$276$141$70$49
50 years$908$499$260$130$64$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $930,000, adding $2,879 every year, while hoping to spend $48,211 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: 62/31/7 Blend
46$930,000$930,000$930,000$930,000
47$1,027,830$978,540$964,125$1,089,975
48$1,081,372$975,192$945,127$1,128,478
49$1,138,760$970,064$923,877$1,164,614
50$1,200,335$963,019$900,248$1,202,818
51$1,266,471$953,909$874,108$1,243,290
52$1,337,580$942,579$845,319$1,286,251
53$1,414,113$928,865$813,737$1,331,944
54$1,496,565$912,592$779,210$1,380,642
55$1,585,481$893,575$741,580$1,432,643
56$1,681,458$871,619$700,681$1,488,282
57$1,785,155$846,516$656,342$1,547,928
58$1,897,293$818,047$608,381$1,611,990
59$2,018,665$785,980$556,610$1,680,921
60$2,150,144$750,069$500,832$1,755,224
61$2,292,690$710,053$440,841$1,835,453
62$2,447,357$665,659$376,423$1,922,227
63$2,615,306$616,595$307,351$2,016,226
64$2,797,813$562,554$233,393$2,118,205
65$2,996,282$503,210$154,304$2,229,002
66$3,212,257$438,222$69,827$2,349,540
67$3,447,437$367,225$0$2,480,845
68$3,703,693$289,836$0$2,625,567
69$3,983,083$205,651$0$2,789,106
70$4,287,871$114,241$0$2,967,650
71$4,620,550$15,156$0$3,162,756
72$4,983,866$0$0$3,376,143
73$5,380,838$0$0$3,641,122
74$5,814,793$0$0$3,936,506
75$6,289,392$0$0$4,259,625
76$6,808,667$0$0$4,613,232
77$7,377,058$0$0$5,000,360
78$7,999,452$0$0$5,424,346
79$8,681,234$0$0$5,888,869
80$9,428,332$0$0$6,397,977
81$10,247,274$0$0$6,956,130
82$11,145,251$0$0$7,568,240
83$12,130,184$0$0$8,239,717
84$13,210,796$0$0$8,976,519
85$14,396,696$0$0$9,785,210
86$15,698,467$0$0$10,673,019
87$17,127,767$0$0$11,647,911
88$18,697,440$0$0$12,718,659
89$20,421,633$0$0$13,894,926
90$22,315,931$0$0$15,187,361
91$24,397,502$0$0$16,607,691
92$26,685,263$0$0$18,168,838
93$29,200,050$0$0$19,885,038
94$31,964,822$0$0$21,771,974
95$35,004,870$0$0$23,846,926
96$38,348,063$0$0$26,128,930
97$42,025,101$0$0$28,638,961
98$46,069,811$0$0$31,400,129
99$50,519,464$0$0$34,437,897
100$55,415,122$0$0$37,780,317