Can I retire at age 47 with 990,000?

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 $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%19.5%
1 years$81,753$81,025$80,315$79,621$78,944$75,932
2 years$40,472$39,718$38,988$38,279$37,592$34,593
3 years$26,713$25,956$25,228$24,526$23,850$20,958
4 years$19,835$19,081$18,359$17,670$17,010$14,247
5 years$15,710$14,959$14,248$13,572$12,931$10,305
6 years$12,960$12,215$11,514$10,854$10,232$7,744
7 years$10,997$10,259$9,568$8,923$8,321$5,971
8 years$9,525$8,793$8,115$7,486$6,903$4,688
9 years$8,381$7,656$6,989$6,376$5,813$3,730
10 years$7,466$6,749$6,093$5,496$4,953$2,998
11 years$6,718$6,008$5,364$4,783$4,260$2,429
12 years$6,095$5,392$4,761$4,196$3,692$1,979
13 years$5,569$4,873$4,253$3,704$3,219$1,621
14 years$5,118$4,430$3,822$3,288$2,822$1,333
15 years$4,727$4,046$3,451$2,932$2,485$1,099
16 years$4,386$3,713$3,128$2,626$2,196$909
17 years$4,085$3,419$2,847$2,359$1,947$753
18 years$3,818$3,159$2,599$2,126$1,731$625
19 years$3,579$2,928$2,379$1,921$1,543$519
20 years$3,365$2,721$2,183$1,740$1,378$432
21 years$3,171$2,534$2,008$1,579$1,233$360
22 years$2,995$2,366$1,851$1,436$1,106$300
23 years$2,834$2,213$1,709$1,308$992$250
24 years$2,687$2,073$1,581$1,193$892$209
25 years$2,552$1,946$1,464$1,089$803$174
26 years$2,428$1,829$1,358$996$723$146
27 years$2,313$1,721$1,261$912$652$122
28 years$2,206$1,622$1,172$835$588$102
29 years$2,107$1,530$1,091$766$531$85
30 years$2,015$1,445$1,016$703$480$71
31 years$1,929$1,366$947$646$434$59
32 years$1,848$1,292$884$593$392$50
33 years$1,773$1,224$825$546$355$42
34 years$1,702$1,160$771$502$322$35
35 years$1,635$1,100$721$462$291$29
36 years$1,572$1,044$674$426$264$24
37 years$1,513$992$631$392$239$20
38 years$1,457$942$591$361$217$17
39 years$1,404$896$554$333$197$14
40 years$1,353$853$519$307$178$12
41 years$1,306$812$487$284$162$10
42 years$1,260$773$456$262$147$8
43 years$1,217$737$428$242$133$7
44 years$1,176$702$402$223$121$6
45 years$1,137$669$378$206$110$5
46 years$1,100$639$355$190$100$4
47 years$1,064$609$333$176$91$3
48 years$1,030$582$313$162$82$3
49 years$998$556$294$150$75$2
50 years$967$531$277$139$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $990,000, adding $6,195 every year, while hoping to spend $56,601 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: 47/25/28 Blend
46$990,000$990,000$990,000$990,000
47$1,097,370$1,044,900$1,029,555$1,139,885
48$1,149,079$1,035,877$1,003,822$1,161,489
49$1,204,165$1,024,515$975,330$1,178,927
50$1,262,913$1,010,640$943,927$1,196,765
51$1,325,635$994,066$909,453$1,215,069
52$1,392,672$974,598$871,743$1,233,917
53$1,464,400$952,028$830,621$1,253,398
54$1,541,229$926,137$785,907$1,273,616
55$1,623,609$896,693$737,410$1,294,687
56$1,712,035$863,449$684,931$1,316,746
57$1,807,049$826,145$628,263$1,339,945
58$1,909,247$784,505$567,188$1,364,458
59$2,019,282$738,237$501,481$1,390,482
60$2,137,873$687,035$430,905$1,418,239
61$2,265,807$630,571$355,211$1,447,981
62$2,403,952$568,501$274,143$1,479,992
63$2,553,259$500,462$187,431$1,514,591
64$2,714,775$426,067$94,793$1,552,139
65$2,889,649$344,912$0$1,593,040
66$3,079,146$256,566$0$1,638,963
67$3,284,657$160,576$0$1,719,503
68$3,507,710$56,462$0$1,806,976
69$3,749,988$0$0$1,902,119
70$4,013,339$0$0$2,021,232
71$4,299,799$0$0$2,167,792
72$4,611,606$0$0$2,327,423
73$4,951,224$0$0$2,501,400
74$5,321,364$0$0$2,691,125
75$5,725,010$0$0$2,898,141
76$6,165,444$0$0$3,124,147
77$6,646,283$0$0$3,371,013
78$7,171,503$0$0$3,640,798
79$7,745,487$0$0$3,935,768
80$8,373,054$0$0$4,258,419
81$9,059,516$0$0$4,611,498
82$9,810,718$0$0$4,998,030
83$10,633,097$0$0$5,421,348
84$11,533,742$0$0$5,885,121
85$12,520,459$0$0$6,393,388
86$13,601,845$0$0$6,950,600
87$14,787,367$0$0$7,561,658
88$16,087,454$0$0$8,231,959
89$17,513,591$0$0$8,967,451
90$19,078,428$0$0$9,774,681
91$20,795,899$0$0$10,660,864
92$22,681,355$0$0$11,633,946
93$24,751,701$0$0$12,702,682
94$27,025,563$0$0$13,876,714
95$29,523,458$0$0$15,166,665
96$32,267,989$0$0$16,584,239
97$35,284,057$0$0$18,142,329
98$38,599,092$0$0$19,855,138
99$42,243,317$0$0$21,738,317
100$46,250,027$0$0$23,809,105