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%19%
1 years$78,450$77,751$77,070$76,404$75,754$73,008
2 years$38,837$38,113$37,412$36,733$36,073$33,337
3 years$25,634$24,908$24,208$23,535$22,887$20,246
4 years$19,034$18,310$17,617$16,956$16,323$13,798
5 years$15,075$14,355$13,672$13,024$12,408$10,006
6 years$12,436$11,722$11,049$10,415$9,818$7,540
7 years$10,552$9,844$9,182$8,563$7,985$5,830
8 years$9,140$8,438$7,787$7,183$6,624$4,591
9 years$8,042$7,347$6,707$6,118$5,579$3,664
10 years$7,165$6,476$5,847$5,274$4,753$2,955
11 years$6,447$5,765$5,148$4,590$4,088$2,401
12 years$5,849$5,175$4,568$4,026$3,543$1,964
13 years$5,344$4,676$4,082$3,554$3,089$1,614
14 years$4,911$4,251$3,667$3,155$2,708$1,331
15 years$4,536$3,883$3,311$2,814$2,384$1,102
16 years$4,209$3,563$3,002$2,520$2,107$914
17 years$3,920$3,281$2,732$2,264$1,868$760
18 years$3,664$3,032$2,494$2,040$1,661$633
19 years$3,435$2,810$2,283$1,843$1,481$528
20 years$3,229$2,611$2,095$1,670$1,323$441
21 years$3,043$2,432$1,927$1,515$1,184$369
22 years$2,874$2,270$1,776$1,378$1,061$309
23 years$2,720$2,123$1,640$1,255$952$259
24 years$2,579$1,989$1,517$1,144$856$217
25 years$2,449$1,867$1,405$1,045$770$182
26 years$2,330$1,755$1,303$956$694$152
27 years$2,220$1,651$1,210$875$626$128
28 years$2,117$1,556$1,125$801$564$107
29 years$2,022$1,468$1,047$735$510$90
30 years$1,934$1,386$975$674$461$76
31 years$1,851$1,311$909$619$416$63
32 years$1,774$1,240$848$569$377$53
33 years$1,701$1,174$792$523$341$45
34 years$1,633$1,113$740$482$309$38
35 years$1,569$1,056$692$443$280$32
36 years$1,509$1,002$647$408$253$27
37 years$1,452$952$606$376$230$22
38 years$1,398$904$567$347$208$19
39 years$1,347$860$531$320$189$16
40 years$1,299$818$498$295$171$13
41 years$1,253$779$467$272$155$11
42 years$1,209$742$438$251$141$9
43 years$1,168$707$411$232$128$8
44 years$1,129$674$386$214$116$7
45 years$1,091$642$362$198$105$6
46 years$1,055$613$340$183$96$5
47 years$1,021$585$320$169$87$4
48 years$989$558$300$156$79$3
49 years$957$533$282$144$72$3
50 years$928$509$265$133$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $950,000, adding $5,690 every year, while hoping to spend $25,812 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: 48/44/8 Blend
46$950,000$950,000$950,000$950,000
47$1,052,769$1,002,419$987,694$1,100,782
48$1,132,688$1,024,074$993,318$1,155,956
49$1,219,893$1,045,925$998,266$1,212,642
50$1,315,101$1,067,954$1,002,486$1,273,585
51$1,419,100$1,090,142$1,005,928$1,339,189
52$1,532,757$1,112,468$1,008,535$1,409,899
53$1,657,027$1,134,908$1,010,251$1,486,204
54$1,792,963$1,157,438$1,011,013$1,568,645
55$1,941,723$1,180,029$1,010,759$1,657,815
56$2,104,581$1,202,653$1,009,422$1,754,371
57$2,282,942$1,225,277$1,006,931$1,859,034
58$2,478,352$1,247,865$1,003,213$1,972,601
59$2,692,514$1,270,381$998,191$2,095,947
60$2,927,304$1,292,783$991,784$2,230,041
61$3,184,787$1,315,028$983,907$2,375,947
62$3,467,239$1,337,068$974,472$2,534,840
63$3,777,165$1,358,852$963,385$2,708,015
64$4,117,327$1,380,326$950,548$2,896,898
65$4,490,763$1,401,432$935,861$3,103,062
66$4,900,825$1,422,106$919,217$3,328,242
67$5,351,201$1,442,281$900,502$3,574,348
68$5,845,956$1,461,885$879,602$3,843,488
69$6,389,568$1,480,841$856,392$4,137,985
70$6,986,968$1,499,067$830,746$4,460,400
71$7,643,592$1,516,475$802,529$4,813,554
72$8,365,426$1,532,969$771,601$5,200,561
73$9,159,066$1,548,451$737,816$5,624,850
74$10,031,778$1,562,813$701,021$6,090,205
75$10,991,570$1,575,941$661,055$6,600,793
76$12,047,262$1,587,714$617,753$7,161,212
77$13,208,573$1,598,002$570,937$7,776,527
78$14,486,211$1,606,668$520,427$8,452,326
79$15,891,974$1,613,565$466,031$9,194,765
80$17,438,863$1,618,536$407,551$10,010,632
81$19,141,200$1,621,418$344,777$10,907,412
82$21,014,768$1,622,034$277,493$11,893,351
83$23,076,957$1,620,196$205,472$12,977,546
84$25,346,928$1,615,707$128,476$14,170,019
85$27,845,794$1,608,355$46,259$15,481,822
86$30,596,818$1,597,918$0$16,925,135
87$33,625,636$1,584,158$0$18,516,928
88$36,960,493$1,566,825$0$20,272,906
89$40,632,515$1,545,650$0$22,205,457
90$44,675,998$1,520,353$0$24,332,592
91$49,128,733$1,490,634$0$26,674,163
92$54,032,364$1,456,175$0$29,252,052
93$59,432,779$1,416,642$0$32,090,377
94$65,380,544$1,371,679$0$35,215,721
95$71,931,378$1,320,910$0$38,657,382
96$79,146,681$1,263,936$0$42,447,657
97$87,094,111$1,200,338$0$46,622,139
98$95,848,224$1,129,669$0$51,220,059
99$105,491,179$1,051,458$0$56,284,659
100$116,113,507$965,208$0$61,863,596