Can I retire at age 47 with 960,000?

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 $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%15.8%
1 years$79,276$78,570$77,881$77,208$76,552$74,731
2 years$39,245$38,515$37,806$37,119$36,453$34,630
3 years$25,904$25,170$24,463$23,783$23,127$21,358
4 years$19,234$18,502$17,803$17,134$16,495$14,793
5 years$15,234$14,506$13,816$13,161$12,539$10,910
6 years$12,567$11,845$11,165$10,525$9,922$8,366
7 years$10,664$9,948$9,278$8,653$8,069$6,588
8 years$9,236$8,527$7,869$7,259$6,694$5,287
9 years$8,127$7,424$6,777$6,183$5,637$4,302
10 years$7,240$6,544$5,909$5,330$4,803$3,539
11 years$6,515$5,826$5,202$4,638$4,131$2,936
12 years$5,911$5,229$4,617$4,068$3,580$2,453
13 years$5,400$4,725$4,125$3,592$3,122$2,060
14 years$4,963$4,295$3,706$3,188$2,736$1,737
15 years$4,584$3,924$3,346$2,844$2,409$1,471
16 years$4,253$3,600$3,034$2,546$2,129$1,249
17 years$3,961$3,316$2,760$2,288$1,888$1,063
18 years$3,702$3,064$2,520$2,062$1,679$907
19 years$3,471$2,839$2,307$1,863$1,496$775
20 years$3,263$2,639$2,117$1,687$1,337$663
21 years$3,075$2,458$1,947$1,531$1,196$568
22 years$2,904$2,294$1,795$1,392$1,072$488
23 years$2,748$2,146$1,657$1,268$962$419
24 years$2,606$2,010$1,533$1,156$865$360
25 years$2,475$1,887$1,420$1,056$778$310
26 years$2,354$1,773$1,317$966$701$266
27 years$2,243$1,669$1,223$884$632$229
28 years$2,140$1,572$1,136$810$570$197
29 years$2,044$1,483$1,058$743$515$170
30 years$1,954$1,401$985$682$465$147
31 years$1,871$1,324$918$626$421$126
32 years$1,792$1,253$857$575$381$109
33 years$1,719$1,187$800$529$344$94
34 years$1,650$1,125$748$487$312$81
35 years$1,586$1,067$699$448$282$70
36 years$1,525$1,013$654$413$256$60
37 years$1,467$962$612$380$232$52
38 years$1,413$914$573$350$210$45
39 years$1,361$869$537$323$191$39
40 years$1,312$827$503$298$173$34
41 years$1,266$787$472$275$157$29
42 years$1,222$750$443$254$142$25
43 years$1,180$714$415$234$129$22
44 years$1,141$681$390$216$117$19
45 years$1,103$649$366$200$106$16
46 years$1,067$619$344$185$97$14
47 years$1,032$591$323$170$88$12
48 years$999$564$304$158$80$10
49 years$967$539$285$146$72$9
50 years$937$515$268$135$66$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $960,000, adding $5,312 every year, while hoping to spend $36,170 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: 41/44/15 Blend
46$960,000$960,000$960,000$960,000
47$1,063,399$1,012,519$997,639$1,102,088
48$1,133,381$1,023,648$992,576$1,141,066
49$1,209,290$1,034,110$986,130$1,179,275
50$1,291,690$1,043,834$978,218$1,219,853
51$1,381,205$1,052,745$968,751$1,263,031
52$1,478,520$1,060,762$957,637$1,309,068
53$1,584,389$1,067,799$944,778$1,358,250
54$1,699,641$1,073,766$930,072$1,410,895
55$1,825,189$1,078,564$913,414$1,467,352
56$1,962,036$1,082,092$894,691$1,528,011
57$2,111,288$1,084,239$873,787$1,593,303
58$2,274,161$1,084,888$850,581$1,663,704
59$2,451,995$1,083,916$824,944$1,739,742
60$2,646,261$1,081,192$796,743$1,822,003
61$2,858,585$1,076,575$765,839$1,911,134
62$3,090,751$1,069,918$732,085$2,007,850
63$3,344,727$1,061,063$695,329$2,112,944
64$3,622,677$1,049,843$655,411$2,227,293
65$3,926,988$1,036,083$612,165$2,351,867
66$4,260,285$1,019,595$565,416$2,487,740
67$4,625,459$1,000,180$514,983$2,636,099
68$5,025,695$977,629$460,675$2,798,255
69$5,464,502$951,718$402,293$2,975,661
70$5,945,742$922,213$339,630$3,169,921
71$6,473,669$888,864$272,470$3,382,809
72$7,052,972$851,406$200,586$3,616,286
73$7,688,811$809,561$123,742$3,872,519
74$8,386,874$763,034$41,691$4,153,903
75$9,153,424$711,511$0$4,463,083
76$9,995,361$654,663$0$4,810,326
77$10,920,287$592,141$0$5,199,119
78$11,936,576$523,575$0$5,626,393
79$13,053,452$448,576$0$6,096,137
80$14,281,079$366,731$0$6,612,752
81$15,630,653$277,605$0$7,181,097
82$17,114,511$180,739$0$7,806,531
83$18,746,242$75,646$0$8,494,972
84$20,540,821$0$0$9,252,948
85$22,514,744$0$0$10,106,150
86$24,686,188$0$0$11,085,158
87$27,075,180$0$0$12,162,393
88$29,703,785$0$0$13,347,822
89$32,596,317$0$0$14,652,428
90$35,779,564$0$0$16,088,312
91$39,283,042$0$0$17,668,809
92$43,139,275$0$0$19,408,611
93$47,384,098$0$0$21,323,906
94$52,056,999$0$0$23,432,533
95$57,201,487$0$0$25,754,148
96$62,865,505$0$0$28,310,409
97$69,101,881$0$0$31,125,184
98$75,968,826$0$0$34,224,770
99$83,530,485$0$0$37,638,145
100$91,857,536$0$0$41,397,242