Can I retire at age 47 with 970,000?

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 $970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$80,102$79,388$78,692$78,013$77,349$76,478
2 years$39,654$38,916$38,200$37,506$36,833$35,956
3 years$26,174$25,432$24,718$24,030$23,368$22,512
4 years$19,435$18,695$17,988$17,313$16,666$15,839
5 years$15,392$14,657$13,960$13,298$12,670$11,872
6 years$12,698$11,969$11,282$10,634$10,025$9,259
7 years$10,775$10,051$9,375$8,743$8,153$7,419
8 years$9,333$8,616$7,951$7,334$6,764$6,061
9 years$8,212$7,502$6,848$6,247$5,696$5,025
10 years$7,315$6,612$5,970$5,385$4,853$4,213
11 years$6,583$5,887$5,256$4,687$4,174$3,564
12 years$5,972$5,283$4,665$4,111$3,617$3,037
13 years$5,456$4,775$4,168$3,629$3,154$2,603
14 years$5,015$4,340$3,745$3,222$2,765$2,242
15 years$4,632$3,965$3,381$2,873$2,434$1,939
16 years$4,297$3,638$3,065$2,573$2,152$1,682
17 years$4,003$3,350$2,789$2,311$1,908$1,464
18 years$3,741$3,096$2,546$2,083$1,696$1,278
19 years$3,507$2,869$2,331$1,882$1,512$1,117
20 years$3,297$2,666$2,139$1,705$1,350$978
21 years$3,107$2,483$1,968$1,547$1,209$858
22 years$2,934$2,318$1,814$1,407$1,083$754
23 years$2,777$2,168$1,674$1,281$972$663
24 years$2,633$2,031$1,549$1,168$874$584
25 years$2,501$1,906$1,434$1,067$786$515
26 years$2,379$1,792$1,330$976$708$454
27 years$2,266$1,686$1,235$893$639$401
28 years$2,162$1,589$1,148$818$576$354
29 years$2,065$1,499$1,069$750$520$313
30 years$1,975$1,415$995$689$470$277
31 years$1,890$1,338$928$632$425$245
32 years$1,811$1,266$866$581$385$216
33 years$1,737$1,199$808$535$348$192
34 years$1,668$1,136$755$492$315$170
35 years$1,602$1,078$706$453$285$150
36 years$1,541$1,023$661$417$259$133
37 years$1,482$972$618$384$234$118
38 years$1,427$923$579$354$212$104
39 years$1,375$878$542$326$193$93
40 years$1,326$835$508$301$175$82
41 years$1,279$795$477$278$159$73
42 years$1,235$757$447$256$144$64
43 years$1,193$722$420$237$131$57
44 years$1,152$688$394$219$119$51
45 years$1,114$656$370$202$108$45
46 years$1,078$626$347$186$98$40
47 years$1,043$597$326$172$89$35
48 years$1,009$570$307$159$81$31
49 years$978$544$288$147$73$28
50 years$947$520$271$136$66$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $970,000, adding $3,350 every year, while hoping to spend $41,041 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: 64/10/26 Blend
46$970,000$970,000$970,000$970,000
47$1,072,396$1,020,986$1,005,951$1,133,477
48$1,138,113$1,027,347$995,983$1,181,532
49$1,209,157$1,032,644$984,305$1,229,165
50$1,286,030$1,036,782$970,818$1,280,303
51$1,369,279$1,039,659$955,415$1,335,296
52$1,459,511$1,041,167$937,986$1,394,529
53$1,557,389$1,041,192$918,417$1,458,427
54$1,663,644$1,039,612$896,586$1,527,461
55$1,779,081$1,036,298$872,366$1,602,152
56$1,904,583$1,031,112$845,626$1,683,071
57$2,041,124$1,023,910$816,227$1,770,854
58$2,189,773$1,014,536$784,026$1,866,201
59$2,351,708$1,002,827$748,869$1,969,884
60$2,528,227$988,610$710,601$2,082,756
61$2,720,754$971,700$669,054$2,205,762
62$2,930,861$951,903$624,057$2,339,941
63$3,160,275$929,013$575,429$2,486,441
64$3,410,899$902,810$522,982$2,646,533
65$3,684,828$873,065$466,519$2,821,615
66$3,984,366$839,531$405,834$3,013,233
67$4,312,054$801,951$340,712$3,223,093
68$4,670,686$760,049$270,928$3,453,078
69$5,063,341$713,537$196,249$3,705,265
70$5,493,409$662,107$116,431$3,981,948
71$5,964,622$605,435$31,216$4,285,657
72$6,481,092$543,180$0$4,619,185
73$7,047,346$474,979$0$5,002,179
74$7,668,372$400,449$0$5,431,791
75$8,349,661$319,186$0$5,903,181
76$9,097,263$230,763$0$6,420,572
77$9,917,844$134,730$0$6,988,615
78$10,818,742$30,610$0$7,612,436
79$11,808,044$0$0$8,297,686
80$12,894,657$0$0$9,059,624
81$14,088,394$0$0$9,900,449
82$15,400,064$0$0$10,824,415
83$16,841,577$0$0$11,839,921
84$18,426,050$0$0$12,956,219
85$20,167,939$0$0$14,183,500
86$22,083,167$0$0$15,532,995
87$24,189,279$0$0$17,017,076
88$26,505,603$0$0$18,649,374
89$29,053,437$0$0$20,444,909
90$31,856,243$0$0$22,420,226
91$34,939,876$0$0$24,593,559
92$38,332,820$0$0$26,984,996
93$42,066,459$0$0$29,616,671
94$46,175,377$0$0$32,512,971
95$50,697,675$0$0$35,700,769
96$55,675,338$0$0$39,209,674
97$61,154,628$0$0$43,072,311
98$67,186,518$0$0$47,324,630
99$73,827,176$0$0$52,006,242
100$81,138,491$0$0$57,160,795