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%15.3%
1 years$79,276$78,570$77,881$77,208$76,552$74,884
2 years$39,245$38,515$37,806$37,119$36,453$34,781
3 years$25,904$25,170$24,463$23,783$23,127$21,503
4 years$19,234$18,502$17,803$17,134$16,495$14,931
5 years$15,234$14,506$13,816$13,161$12,539$11,041
6 years$12,567$11,845$11,165$10,525$9,922$8,490
7 years$10,664$9,948$9,278$8,653$8,069$6,704
8 years$9,236$8,527$7,869$7,259$6,694$5,396
9 years$8,127$7,424$6,777$6,183$5,637$4,404
10 years$7,240$6,544$5,909$5,330$4,803$3,635
11 years$6,515$5,826$5,202$4,638$4,131$3,025
12 years$5,911$5,229$4,617$4,068$3,580$2,535
13 years$5,400$4,725$4,125$3,592$3,122$2,136
14 years$4,963$4,295$3,706$3,188$2,736$1,808
15 years$4,584$3,924$3,346$2,844$2,409$1,536
16 years$4,253$3,600$3,034$2,546$2,129$1,309
17 years$3,961$3,316$2,760$2,288$1,888$1,118
18 years$3,702$3,064$2,520$2,062$1,679$957
19 years$3,471$2,839$2,307$1,863$1,496$821
20 years$3,263$2,639$2,117$1,687$1,337$705
21 years$3,075$2,458$1,947$1,531$1,196$607
22 years$2,904$2,294$1,795$1,392$1,072$523
23 years$2,748$2,146$1,657$1,268$962$451
24 years$2,606$2,010$1,533$1,156$865$389
25 years$2,475$1,887$1,420$1,056$778$336
26 years$2,354$1,773$1,317$966$701$290
27 years$2,243$1,669$1,223$884$632$251
28 years$2,140$1,572$1,136$810$570$217
29 years$2,044$1,483$1,058$743$515$188
30 years$1,954$1,401$985$682$465$162
31 years$1,871$1,324$918$626$421$140
32 years$1,792$1,253$857$575$381$122
33 years$1,719$1,187$800$529$344$105
34 years$1,650$1,125$748$487$312$91
35 years$1,586$1,067$699$448$282$79
36 years$1,525$1,013$654$413$256$69
37 years$1,467$962$612$380$232$59
38 years$1,413$914$573$350$210$51
39 years$1,361$869$537$323$191$45
40 years$1,312$827$503$298$173$39
41 years$1,266$787$472$275$157$34
42 years$1,222$750$443$254$142$29
43 years$1,180$714$415$234$129$25
44 years$1,141$681$390$216$117$22
45 years$1,103$649$366$200$106$19
46 years$1,067$619$344$185$97$16
47 years$1,032$591$323$170$88$14
48 years$999$564$304$158$80$12
49 years$967$539$285$146$72$11
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 $5,679 every year, while hoping to spend $21,110 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$1,063,778$1,012,898$998,018$1,102,466
48$1,149,822$1,040,069$1,008,991$1,157,522
49$1,243,936$1,067,864$1,019,623$1,214,570
50$1,346,919$1,096,291$1,029,883$1,275,861
51$1,459,654$1,125,358$1,039,733$1,341,792
52$1,583,111$1,155,073$1,049,136$1,412,799
53$1,718,360$1,185,444$1,058,054$1,489,362
54$1,866,578$1,216,476$1,066,444$1,572,010
55$2,029,062$1,248,176$1,074,263$1,661,326
56$2,207,240$1,280,551$1,081,465$1,757,950
57$2,402,686$1,313,605$1,088,001$1,862,588
58$2,617,132$1,347,344$1,093,821$1,976,017
59$2,852,487$1,381,771$1,098,871$2,099,094
60$3,110,853$1,416,890$1,103,096$2,232,761
61$3,394,545$1,452,703$1,106,435$2,378,057
62$3,706,115$1,489,212$1,108,827$2,536,125
63$4,048,373$1,526,417$1,110,207$2,708,226
64$4,424,415$1,564,320$1,110,507$2,895,747
65$4,837,651$1,602,917$1,109,655$3,100,217
66$5,291,839$1,642,207$1,107,575$3,323,323
67$5,791,117$1,682,186$1,104,189$3,566,919
68$6,340,046$1,722,848$1,099,415$3,833,051
69$6,943,650$1,764,187$1,093,165$4,123,973
70$7,607,465$1,806,195$1,085,348$4,442,168
71$8,337,589$1,848,861$1,075,870$4,790,372
72$9,140,742$1,892,174$1,064,630$5,171,600
73$10,024,327$1,936,120$1,051,525$5,589,176
74$10,996,502$1,980,683$1,036,444$6,046,759
75$12,066,253$2,025,845$1,019,274$6,548,386
76$13,243,485$2,071,585$999,893$7,098,502
77$14,539,109$2,117,881$978,178$7,702,008
78$15,965,146$2,164,706$953,995$8,364,303
79$17,534,846$2,212,031$927,209$9,091,338
80$19,262,805$2,259,825$897,675$9,889,672
81$21,165,106$2,308,052$865,242$10,766,532
82$23,259,474$2,356,673$829,754$11,729,884
83$25,565,435$2,405,645$791,047$12,788,506
84$28,104,511$2,454,923$748,948$13,952,072
85$30,900,411$2,504,454$703,277$15,231,245
86$33,979,264$2,554,183$653,848$16,637,775
87$37,369,860$2,604,050$600,464$18,184,613
88$41,103,926$2,653,989$542,920$19,886,029
89$45,216,421$2,703,928$481,002$21,757,755
90$49,745,866$2,753,791$414,486$23,817,125
91$54,734,712$2,803,495$343,139$26,083,244
92$60,229,736$2,852,949$266,717$28,577,168
93$66,282,483$2,902,057$184,966$31,322,103
94$72,949,753$2,950,715$97,619$34,343,622
95$80,294,138$2,998,810$4,399$37,669,911
96$88,384,611$3,046,223$0$41,332,033
97$97,297,177$3,092,824$0$45,379,442
98$107,115,591$3,138,474$0$49,836,388
99$117,932,148$3,183,025$0$54,743,798
100$129,848,552$3,226,319$0$60,147,553