Can I retire at age 47 with 960,000?

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 $960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$79,276$78,570$77,881$77,208$76,552$74,823
2 years$39,245$38,515$37,806$37,119$36,453$34,721
3 years$25,904$25,170$24,463$23,783$23,127$21,445
4 years$19,234$18,502$17,803$17,134$16,495$14,876
5 years$15,234$14,506$13,816$13,161$12,539$10,988
6 years$12,567$11,845$11,165$10,525$9,922$8,440
7 years$10,664$9,948$9,278$8,653$8,069$6,657
8 years$9,236$8,527$7,869$7,259$6,694$5,352
9 years$8,127$7,424$6,777$6,183$5,637$4,363
10 years$7,240$6,544$5,909$5,330$4,803$3,596
11 years$6,515$5,826$5,202$4,638$4,131$2,989
12 years$5,911$5,229$4,617$4,068$3,580$2,502
13 years$5,400$4,725$4,125$3,592$3,122$2,105
14 years$4,963$4,295$3,706$3,188$2,736$1,779
15 years$4,584$3,924$3,346$2,844$2,409$1,509
16 years$4,253$3,600$3,034$2,546$2,129$1,284
17 years$3,961$3,316$2,760$2,288$1,888$1,096
18 years$3,702$3,064$2,520$2,062$1,679$937
19 years$3,471$2,839$2,307$1,863$1,496$802
20 years$3,263$2,639$2,117$1,687$1,337$688
21 years$3,075$2,458$1,947$1,531$1,196$591
22 years$2,904$2,294$1,795$1,392$1,072$508
23 years$2,748$2,146$1,657$1,268$962$438
24 years$2,606$2,010$1,533$1,156$865$377
25 years$2,475$1,887$1,420$1,056$778$325
26 years$2,354$1,773$1,317$966$701$280
27 years$2,243$1,669$1,223$884$632$242
28 years$2,140$1,572$1,136$810$570$209
29 years$2,044$1,483$1,058$743$515$180
30 years$1,954$1,401$985$682$465$156
31 years$1,871$1,324$918$626$421$135
32 years$1,792$1,253$857$575$381$116
33 years$1,719$1,187$800$529$344$101
34 years$1,650$1,125$748$487$312$87
35 years$1,586$1,067$699$448$282$75
36 years$1,525$1,013$654$413$256$65
37 years$1,467$962$612$380$232$56
38 years$1,413$914$573$350$210$49
39 years$1,361$869$537$323$191$42
40 years$1,312$827$503$298$173$37
41 years$1,266$787$472$275$157$32
42 years$1,222$750$443$254$142$27
43 years$1,180$714$415$234$129$24
44 years$1,141$681$390$216$117$20
45 years$1,103$649$366$200$106$18
46 years$1,067$619$344$185$97$15
47 years$1,032$591$323$170$88$13
48 years$999$564$304$158$80$12
49 years$967$539$285$146$72$10
50 years$937$515$268$135$66$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $960,000, adding $4,525 every year, while hoping to spend $58,331 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: 66/26/8 Blend
46$960,000$960,000$960,000$960,000
47$1,062,588$1,011,708$996,828$1,130,806
48$1,108,908$999,217$968,158$1,164,240
49$1,157,998$984,160$936,572$1,193,387
50$1,210,078$966,349$901,912$1,223,710
51$1,265,391$945,585$864,011$1,255,315
52$1,324,199$921,657$822,694$1,288,323
53$1,386,793$894,344$777,780$1,322,869
54$1,453,489$863,410$729,078$1,359,104
55$1,524,633$828,605$676,390$1,397,194
56$1,600,604$789,665$619,508$1,437,327
57$1,681,819$746,312$558,215$1,479,712
58$1,768,734$698,250$492,284$1,524,580
59$1,861,847$645,167$421,478$1,572,193
60$1,961,709$586,734$345,551$1,622,836
61$2,068,920$522,600$264,244$1,676,834
62$2,184,140$452,399$177,287$1,734,542
63$2,308,096$375,739$84,399$1,796,358
64$2,441,581$292,210$0$1,862,726
65$2,585,471$201,377$0$1,935,395
66$2,740,725$102,781$0$2,021,423
67$2,908,399$0$0$2,114,235
68$3,089,652$0$0$2,215,697
69$3,285,756$0$0$2,357,337
70$3,498,114$0$0$2,510,766
71$3,728,264$0$0$2,677,104
72$3,977,900$0$0$2,857,582
73$4,248,884$0$0$3,053,551
74$4,543,262$0$0$3,266,501
75$4,863,289$0$0$3,498,069
76$5,211,442$0$0$3,750,056
77$5,590,447$0$0$4,024,443
78$6,003,305$0$0$4,323,413
79$6,453,318$0$0$4,649,365
80$6,944,119$0$0$5,004,939
81$7,479,707$0$0$5,393,045
82$8,064,484$0$0$5,816,882
83$8,703,298$0$0$6,279,974
84$9,401,481$0$0$6,786,198
85$10,164,908$0$0$7,339,826
86$11,000,046$0$0$7,945,559
87$11,914,015$0$0$8,608,574
88$12,914,656$0$0$9,334,574
89$14,010,603$0$0$10,129,834
90$15,211,363$0$0$11,001,270
91$16,527,409$0$0$11,956,496
92$17,970,273$0$0$13,003,897
93$19,552,657$0$0$14,152,709
94$21,288,551$0$0$15,413,107
95$23,193,364$0$0$16,796,295
96$25,284,069$0$0$18,314,617
97$27,579,363$0$0$19,981,668
98$30,099,841$0$0$21,812,425
99$32,868,190$0$0$23,823,388
100$35,909,403$0$0$26,032,730