Can I retire at age 47 with 990,000?

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 $990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$81,753$81,025$80,315$79,621$78,944$76,725
2 years$40,472$39,718$38,988$38,279$37,592$35,373
3 years$26,713$25,956$25,228$24,526$23,850$21,701
4 years$19,835$19,081$18,359$17,670$17,010$14,947
5 years$15,710$14,959$14,248$13,572$12,931$10,960
6 years$12,960$12,215$11,514$10,854$10,232$8,354
7 years$10,997$10,259$9,568$8,923$8,321$6,538
8 years$9,525$8,793$8,115$7,486$6,903$5,213
9 years$8,381$7,656$6,989$6,376$5,813$4,214
10 years$7,466$6,749$6,093$5,496$4,953$3,443
11 years$6,718$6,008$5,364$4,783$4,260$2,836
12 years$6,095$5,392$4,761$4,196$3,692$2,352
13 years$5,569$4,873$4,253$3,704$3,219$1,961
14 years$5,118$4,430$3,822$3,288$2,822$1,641
15 years$4,727$4,046$3,451$2,932$2,485$1,379
16 years$4,386$3,713$3,128$2,626$2,196$1,162
17 years$4,085$3,419$2,847$2,359$1,947$981
18 years$3,818$3,159$2,599$2,126$1,731$830
19 years$3,579$2,928$2,379$1,921$1,543$704
20 years$3,365$2,721$2,183$1,740$1,378$597
21 years$3,171$2,534$2,008$1,579$1,233$507
22 years$2,995$2,366$1,851$1,436$1,106$432
23 years$2,834$2,213$1,709$1,308$992$367
24 years$2,687$2,073$1,581$1,193$892$313
25 years$2,552$1,946$1,464$1,089$803$267
26 years$2,428$1,829$1,358$996$723$228
27 years$2,313$1,721$1,261$912$652$194
28 years$2,206$1,622$1,172$835$588$166
29 years$2,107$1,530$1,091$766$531$142
30 years$2,015$1,445$1,016$703$480$121
31 years$1,929$1,366$947$646$434$103
32 years$1,848$1,292$884$593$392$88
33 years$1,773$1,224$825$546$355$75
34 years$1,702$1,160$771$502$322$64
35 years$1,635$1,100$721$462$291$55
36 years$1,572$1,044$674$426$264$47
37 years$1,513$992$631$392$239$40
38 years$1,457$942$591$361$217$34
39 years$1,404$896$554$333$197$29
40 years$1,353$853$519$307$178$25
41 years$1,306$812$487$284$162$22
42 years$1,260$773$456$262$147$18
43 years$1,217$737$428$242$133$16
44 years$1,176$702$402$223$121$13
45 years$1,137$669$378$206$110$12
46 years$1,100$639$355$190$100$10
47 years$1,064$609$333$176$91$8
48 years$1,030$582$313$162$82$7
49 years$998$556$294$150$75$6
50 years$967$531$277$139$68$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $990,000, adding $2,829 every year, while hoping to spend $55,750 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: 28/47/25 Blend
46$990,000$990,000$990,000$990,000
47$1,093,898$1,041,428$1,026,083$1,115,928
48$1,146,158$1,033,141$1,001,139$1,125,254
49$1,201,880$1,022,578$973,491$1,130,209
50$1,261,359$1,009,571$942,990$1,134,383
51$1,324,916$993,939$909,479$1,137,748
52$1,392,905$975,490$872,794$1,140,275
53$1,465,714$954,021$832,765$1,141,941
54$1,543,767$929,319$789,213$1,142,724
55$1,627,531$901,155$741,952$1,142,609
56$1,717,518$869,290$690,786$1,141,584
57$1,814,288$833,469$635,511$1,139,644
58$1,918,459$793,423$575,914$1,136,793
59$2,030,708$748,866$511,773$1,133,041
60$2,151,777$699,498$442,854$1,128,409
61$2,282,485$645,000$368,916$1,122,930
62$2,423,729$585,035$289,705$1,116,649
63$2,576,495$519,247$204,956$1,109,627
64$2,741,867$447,261$114,393$1,101,942
65$2,921,039$368,678$17,726$1,093,691
66$3,115,321$283,079$0$1,084,995
67$3,326,154$190,020$0$1,098,788
68$3,555,123$89,033$0$1,118,980
69$3,803,974$0$0$1,141,134
70$4,074,623$0$0$1,176,121
71$4,369,181$0$0$1,264,454
72$4,689,971$0$0$1,360,800
73$5,039,549$0$0$1,465,946
74$5,420,726$0$0$1,580,757
75$5,836,599$0$0$1,706,185
76$6,290,573$0$0$1,843,278
77$6,786,400$0$0$1,993,192
78$7,328,209$0$0$2,157,197
79$7,920,544$0$0$2,336,692
80$8,568,411$0$0$2,533,218
81$9,277,319$0$0$2,748,473
82$10,053,335$0$0$2,984,326
83$10,903,142$0$0$3,242,834
84$11,834,097$0$0$3,526,264
85$12,854,303$0$0$3,837,113
86$13,972,683$0$0$4,178,130
87$15,199,066$0$0$4,552,344
88$16,544,277$0$0$4,963,092
89$18,020,239$0$0$5,414,048
90$19,640,085$0$0$5,909,260
91$21,418,282$0$0$6,453,187
92$23,370,764$0$0$7,050,743
93$25,515,086$0$0$7,707,337
94$27,870,584$0$0$8,428,934
95$30,458,561$0$0$9,222,099
96$33,302,485$0$0$10,094,070
97$36,428,210$0$0$11,052,819
98$39,864,218$0$0$12,107,128
99$43,641,889$0$0$13,266,675
100$47,795,796$0$0$14,542,122