Can I retire at age 47 with 940,000?

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 $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%14.7%
1 years$77,624$76,933$76,258$75,600$74,957$73,504
2 years$38,428$37,712$37,019$36,346$35,694$34,236
3 years$25,364$24,645$23,953$23,287$22,646$21,228
4 years$18,834$18,117$17,432$16,777$16,151$14,785
5 years$14,916$14,204$13,528$12,886$12,278$10,967
6 years$12,305$11,599$10,933$10,305$9,715$8,461
7 years$10,441$9,740$9,085$8,473$7,901$6,704
8 years$9,044$8,349$7,705$7,108$6,555$5,414
9 years$7,958$7,270$6,636$6,054$5,520$4,435
10 years$7,089$6,408$5,786$5,219$4,703$3,674
11 years$6,379$5,704$5,094$4,542$4,045$3,069
12 years$5,788$5,120$4,520$3,984$3,505$2,582
13 years$5,288$4,627$4,039$3,517$3,057$2,184
14 years$4,859$4,206$3,629$3,122$2,679$1,856
15 years$4,489$3,842$3,276$2,784$2,359$1,583
16 years$4,165$3,525$2,970$2,493$2,085$1,355
17 years$3,879$3,246$2,703$2,240$1,849$1,163
18 years$3,625$3,000$2,467$2,019$1,644$1,000
19 years$3,399$2,780$2,259$1,824$1,465$861
20 years$3,195$2,584$2,073$1,652$1,309$743
21 years$3,011$2,406$1,907$1,499$1,171$643
22 years$2,843$2,246$1,757$1,363$1,050$556
23 years$2,691$2,101$1,623$1,242$942$482
24 years$2,552$1,968$1,501$1,132$847$417
25 years$2,423$1,847$1,390$1,034$762$362
26 years$2,305$1,736$1,289$946$687$314
27 years$2,196$1,634$1,197$865$619$273
28 years$2,095$1,540$1,113$793$559$237
29 years$2,001$1,452$1,036$727$504$206
30 years$1,913$1,372$965$667$456$179
31 years$1,832$1,297$899$613$412$156
32 years$1,755$1,227$839$563$373$136
33 years$1,683$1,162$783$518$337$118
34 years$1,616$1,101$732$477$305$103
35 years$1,553$1,045$684$439$277$90
36 years$1,493$991$640$404$251$78
37 years$1,437$942$599$372$227$68
38 years$1,383$895$561$343$206$59
39 years$1,333$851$526$316$187$52
40 years$1,285$810$493$292$169$45
41 years$1,240$771$462$269$154$39
42 years$1,197$734$433$248$139$34
43 years$1,156$699$407$229$127$30
44 years$1,117$667$382$212$115$26
45 years$1,080$636$358$196$104$23
46 years$1,044$606$337$181$95$20
47 years$1,011$579$316$167$86$17
48 years$978$552$297$154$78$15
49 years$947$528$279$143$71$13
50 years$918$504$263$132$64$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $940,000, adding $6,769 every year, while hoping to spend $20,523 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: 51/22/27 Blend
46$940,000$940,000$940,000$940,000
47$1,042,862$993,042$978,472$1,087,820
48$1,127,398$1,019,865$989,415$1,146,645
49$1,219,868$1,047,314$1,000,036$1,207,963
50$1,321,061$1,075,399$1,010,304$1,274,233
51$1,431,844$1,104,128$1,020,183$1,345,934
52$1,553,172$1,133,510$1,029,639$1,423,596
53$1,686,096$1,163,553$1,038,633$1,507,802
54$1,831,775$1,194,264$1,047,124$1,599,191
55$1,991,486$1,225,652$1,055,072$1,698,473
56$2,166,632$1,257,724$1,062,432$1,806,425
57$2,358,761$1,290,485$1,069,156$1,923,906
58$2,569,578$1,323,943$1,075,196$2,051,861
59$2,800,961$1,358,102$1,080,501$2,191,334
60$3,054,977$1,392,967$1,085,016$2,343,472
61$3,333,905$1,428,542$1,088,684$2,509,540
62$3,640,254$1,464,832$1,091,446$2,690,934
63$3,976,789$1,501,837$1,093,238$2,889,190
64$4,346,555$1,539,561$1,093,996$3,106,002
65$4,752,907$1,578,003$1,093,648$3,343,236
66$5,199,542$1,617,164$1,092,124$3,602,949
67$5,690,532$1,657,042$1,089,347$3,887,410
68$6,230,363$1,697,633$1,085,236$4,199,115
69$6,823,977$1,738,935$1,079,709$4,540,820
70$7,476,821$1,780,940$1,072,677$4,915,558
71$8,194,894$1,823,644$1,064,049$5,326,674
72$8,984,807$1,867,036$1,053,729$5,777,856
73$9,853,843$1,911,106$1,041,614$6,273,166
74$10,810,027$1,955,843$1,027,600$6,817,081
75$11,862,201$2,001,230$1,011,576$7,414,538
76$13,020,108$2,047,253$993,427$8,070,975
77$14,294,482$2,093,891$973,029$8,792,389
78$15,697,152$2,141,124$950,258$9,585,385
79$17,241,149$2,188,928$924,980$10,457,246
80$18,940,836$2,237,275$897,056$11,415,998
81$20,812,035$2,286,135$866,341$12,470,488
82$22,872,181$2,335,474$832,683$13,630,464
83$25,140,489$2,385,258$795,923$14,906,671
84$27,638,127$2,435,444$755,895$16,310,952
85$30,388,424$2,485,988$712,425$17,856,359
86$33,417,083$2,536,842$665,331$19,557,277
87$36,752,431$2,587,952$614,425$21,429,560
88$40,425,679$2,639,262$559,508$23,490,681
89$44,471,220$2,690,707$500,373$25,759,898
90$48,926,952$2,742,220$436,804$28,258,435
91$53,834,639$2,793,727$368,575$31,009,682
92$59,240,300$2,845,147$295,450$34,039,421
93$65,194,646$2,896,394$217,183$37,376,063
94$71,753,558$2,947,376$133,516$41,050,921
95$78,978,614$2,997,991$44,183$45,098,506
96$86,937,672$3,048,131$0$49,556,851
97$95,705,505$3,097,680$0$54,482,610
98$105,364,513$3,146,513$0$59,921,784
99$116,005,496$3,194,495$0$65,912,631
100$127,728,515$3,241,484$0$72,511,353