Can I retire at age 47 with 950,000?

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 $950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$78,450$77,751$77,070$76,404$75,754$74,316
2 years$38,837$38,113$37,412$36,733$36,073$34,630
3 years$25,634$24,908$24,208$23,535$22,887$21,483
4 years$19,034$18,310$17,617$16,956$16,323$14,970
5 years$15,075$14,355$13,672$13,024$12,408$11,110
6 years$12,436$11,722$11,049$10,415$9,818$8,576
7 years$10,552$9,844$9,182$8,563$7,985$6,799
8 years$9,140$8,438$7,787$7,183$6,624$5,494
9 years$8,042$7,347$6,707$6,118$5,579$4,503
10 years$7,165$6,476$5,847$5,274$4,753$3,732
11 years$6,447$5,765$5,148$4,590$4,088$3,120
12 years$5,849$5,175$4,568$4,026$3,543$2,626
13 years$5,344$4,676$4,082$3,554$3,089$2,223
14 years$4,911$4,251$3,667$3,155$2,708$1,891
15 years$4,536$3,883$3,311$2,814$2,384$1,614
16 years$4,209$3,563$3,002$2,520$2,107$1,382
17 years$3,920$3,281$2,732$2,264$1,868$1,187
18 years$3,664$3,032$2,494$2,040$1,661$1,021
19 years$3,435$2,810$2,283$1,843$1,481$881
20 years$3,229$2,611$2,095$1,670$1,323$761
21 years$3,043$2,432$1,927$1,515$1,184$658
22 years$2,874$2,270$1,776$1,378$1,061$570
23 years$2,720$2,123$1,640$1,255$952$494
24 years$2,579$1,989$1,517$1,144$856$428
25 years$2,449$1,867$1,405$1,045$770$372
26 years$2,330$1,755$1,303$956$694$323
27 years$2,220$1,651$1,210$875$626$281
28 years$2,117$1,556$1,125$801$564$244
29 years$2,022$1,468$1,047$735$510$213
30 years$1,934$1,386$975$674$461$185
31 years$1,851$1,311$909$619$416$161
32 years$1,774$1,240$848$569$377$140
33 years$1,701$1,174$792$523$341$122
34 years$1,633$1,113$740$482$309$107
35 years$1,569$1,056$692$443$280$93
36 years$1,509$1,002$647$408$253$81
37 years$1,452$952$606$376$230$71
38 years$1,398$904$567$347$208$61
39 years$1,347$860$531$320$189$54
40 years$1,299$818$498$295$171$47
41 years$1,253$779$467$272$155$41
42 years$1,209$742$438$251$141$36
43 years$1,168$707$411$232$128$31
44 years$1,129$674$386$214$116$27
45 years$1,091$642$362$198$105$24
46 years$1,055$613$340$183$96$21
47 years$1,021$585$320$169$87$18
48 years$989$558$300$156$79$16
49 years$957$533$282$144$72$14
50 years$928$509$265$133$65$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $950,000, adding $5,696 every year, while hoping to spend $41,408 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: 41/30/29 Blend
46$950,000$950,000$950,000$950,000
47$1,052,775$1,002,425$987,700$1,086,768
48$1,116,101$1,007,486$976,731$1,116,992
49$1,184,497$1,011,408$964,005$1,145,407
50$1,258,439$1,014,090$949,422$1,175,383
51$1,338,446$1,015,426$932,874$1,207,090
52$1,425,091$1,015,305$914,249$1,240,719
53$1,519,002$1,013,607$893,428$1,276,479
54$1,620,871$1,010,205$870,289$1,314,607
55$1,731,460$1,004,965$844,704$1,355,367
56$1,851,604$997,743$816,537$1,399,050
57$1,982,224$988,390$785,647$1,445,983
58$2,124,333$976,743$751,888$1,496,529
59$2,279,045$962,633$715,106$1,551,091
60$2,447,585$945,879$675,140$1,610,120
61$2,631,303$926,291$631,821$1,674,113
62$2,831,683$903,667$584,974$1,743,625
63$3,050,359$877,791$534,415$1,819,273
64$3,289,130$848,437$479,953$1,901,740
65$3,549,977$815,366$421,386$1,991,786
66$3,835,078$778,323$358,507$2,090,253
67$4,146,834$737,039$291,095$2,198,075
68$4,487,888$691,231$218,924$2,316,289
69$4,861,149$640,597$141,754$2,446,043
70$5,269,820$584,821$59,337$2,588,611
71$5,717,431$523,565$0$2,745,403
72$6,207,865$456,476$0$2,926,837
73$6,745,402$383,179$0$3,145,958
74$7,334,754$303,276$0$3,386,390
75$7,981,113$216,349$0$3,650,346
76$8,690,193$121,957$0$3,940,269
77$9,468,292$19,633$0$4,258,856
78$10,322,346$0$0$4,609,085
79$11,259,994$0$0$5,024,323
80$12,289,653$0$0$5,487,554
81$13,420,593$0$0$5,996,483
82$14,663,026$0$0$6,555,722
83$16,028,204$0$0$7,170,353
84$17,528,522$0$0$7,845,974
85$19,177,632$0$0$8,588,751
86$20,990,580$0$0$9,405,481
87$22,983,939$0$0$10,303,648
88$25,175,969$0$0$11,291,501
89$27,586,787$0$0$12,378,126
90$30,238,559$0$0$13,573,536
91$33,155,706$0$0$14,888,763
92$36,365,136$0$0$16,335,961
93$39,896,495$0$0$17,928,522
94$43,782,449$0$0$19,681,202
95$48,058,992$0$0$21,610,261
96$52,765,779$0$0$23,733,613
97$57,946,509$0$0$26,071,000
98$63,649,330$0$0$28,644,171
99$69,927,296$0$0$31,477,094
100$76,838,864$0$0$34,596,179