Can I retire at age 47 with 940,000?

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 $940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$77,624$76,933$76,258$75,600$74,957$73,990
2 years$38,428$37,712$37,019$36,346$35,694$34,721
3 years$25,364$24,645$23,953$23,287$22,646$21,697
4 years$18,834$18,117$17,432$16,777$16,151$15,234
5 years$14,916$14,204$13,528$12,886$12,278$11,395
6 years$12,305$11,599$10,933$10,305$9,715$8,868
7 years$10,441$9,740$9,085$8,473$7,901$7,089
8 years$9,044$8,349$7,705$7,108$6,555$5,779
9 years$7,958$7,270$6,636$6,054$5,520$4,779
10 years$7,089$6,408$5,786$5,219$4,703$3,997
11 years$6,379$5,704$5,094$4,542$4,045$3,373
12 years$5,788$5,120$4,520$3,984$3,505$2,867
13 years$5,288$4,627$4,039$3,517$3,057$2,451
14 years$4,859$4,206$3,629$3,122$2,679$2,105
15 years$4,489$3,842$3,276$2,784$2,359$1,816
16 years$4,165$3,525$2,970$2,493$2,085$1,571
17 years$3,879$3,246$2,703$2,240$1,849$1,364
18 years$3,625$3,000$2,467$2,019$1,644$1,186
19 years$3,399$2,780$2,259$1,824$1,465$1,034
20 years$3,195$2,584$2,073$1,652$1,309$903
21 years$3,011$2,406$1,907$1,499$1,171$790
22 years$2,843$2,246$1,757$1,363$1,050$692
23 years$2,691$2,101$1,623$1,242$942$607
24 years$2,552$1,968$1,501$1,132$847$533
25 years$2,423$1,847$1,390$1,034$762$468
26 years$2,305$1,736$1,289$946$687$412
27 years$2,196$1,634$1,197$865$619$362
28 years$2,095$1,540$1,113$793$559$319
29 years$2,001$1,452$1,036$727$504$281
30 years$1,913$1,372$965$667$456$247
31 years$1,832$1,297$899$613$412$218
32 years$1,755$1,227$839$563$373$192
33 years$1,683$1,162$783$518$337$170
34 years$1,616$1,101$732$477$305$150
35 years$1,553$1,045$684$439$277$132
36 years$1,493$991$640$404$251$117
37 years$1,437$942$599$372$227$103
38 years$1,383$895$561$343$206$91
39 years$1,333$851$526$316$187$80
40 years$1,285$810$493$292$169$71
41 years$1,240$771$462$269$154$63
42 years$1,197$734$433$248$139$55
43 years$1,156$699$407$229$127$49
44 years$1,117$667$382$212$115$43
45 years$1,080$636$358$196$104$38
46 years$1,044$606$337$181$95$34
47 years$1,011$579$316$167$86$30
48 years$978$552$297$154$78$26
49 years$947$528$279$143$71$23
50 years$918$504$263$132$64$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $940,000, adding $4,331 every year, while hoping to spend $39,335 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: 81/11/8 Blend
46$940,000$940,000$940,000$940,000
47$1,040,347$990,527$975,957$1,123,219
48$1,104,611$997,211$966,800$1,184,796
49$1,174,111$1,002,904$956,017$1,246,718
50$1,249,339$1,007,516$943,513$1,313,491
51$1,330,839$1,010,951$929,188$1,385,578
52$1,419,205$1,013,108$912,936$1,463,491
53$1,515,091$1,013,878$894,647$1,547,794
54$1,619,219$1,013,146$874,206$1,639,105
55$1,732,379$1,010,790$851,492$1,738,108
56$1,855,444$1,006,681$826,379$1,845,557
57$1,989,372$1,000,681$798,735$1,962,278
58$2,135,217$992,644$768,422$2,089,188
59$2,294,141$982,416$735,296$2,227,290
60$2,467,421$969,832$699,207$2,377,696
61$2,656,463$954,718$659,995$2,541,626
62$2,862,815$936,891$617,497$2,720,427
63$3,088,178$916,156$571,540$2,915,584
64$3,334,430$892,305$521,944$3,128,731
65$3,603,634$865,120$468,521$3,361,670
66$3,898,063$834,369$411,075$3,616,388
67$4,220,220$799,808$349,400$3,895,073
68$4,572,861$761,177$283,283$4,200,139
69$4,959,019$718,201$212,500$4,534,242
70$5,382,037$670,591$136,817$4,900,315
71$5,845,595$618,039$55,990$5,301,585
72$6,353,745$560,223$0$5,741,614
73$6,910,951$496,798$0$6,226,906
74$7,522,129$427,402$0$6,764,472
75$8,192,695$351,654$0$7,354,316
76$8,928,613$269,148$0$8,001,715
77$9,736,453$179,458$0$8,712,485
78$10,623,452$82,132$0$9,493,033
79$11,597,582$0$0$10,350,421
80$12,667,625$0$0$11,295,251
81$13,843,256$0$0$12,344,261
82$15,135,133$0$0$13,497,022
83$16,554,997$0$0$14,764,015
84$18,115,783$0$0$16,156,785
85$19,831,743$0$0$17,688,053
86$21,718,578$0$0$19,371,833
87$23,793,586$0$0$21,223,567
88$26,075,825$0$0$23,260,265
89$28,586,295$0$0$25,500,671
90$31,348,131$0$0$27,965,436
91$34,386,824$0$0$30,677,314
92$37,730,462$0$0$33,661,374
93$41,409,990$0$0$36,945,240
94$45,459,507$0$0$40,559,348
95$49,916,584$0$0$44,537,235
96$54,822,619$0$0$48,915,852
97$60,223,229$0$0$53,735,917
98$66,168,674$0$0$59,042,294
99$72,714,340$0$0$64,884,418
100$79,921,252$0$0$71,316,763