Can I retire at age 47 with 1,000,000?

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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$82,579$81,843$81,126$80,425$79,741$79,139
2 years$40,881$40,119$39,381$38,666$37,972$37,365
3 years$26,983$26,218$25,482$24,774$24,091$23,498
4 years$20,036$19,273$18,545$17,848$17,182$16,607
5 years$15,868$15,111$14,391$13,709$13,061$12,507
6 years$13,091$12,339$11,630$10,963$10,335$9,801
7 years$11,108$10,362$9,665$9,013$8,405$7,893
8 years$9,621$8,882$8,197$7,561$6,973$6,481
9 years$8,466$7,734$7,060$6,440$5,872$5,402
10 years$7,542$6,817$6,155$5,552$5,003$4,553
11 years$6,786$6,069$5,419$4,832$4,303$3,874
12 years$6,157$5,447$4,809$4,238$3,729$3,319
13 years$5,625$4,922$4,296$3,742$3,252$2,862
14 years$5,170$4,474$3,860$3,321$2,850$2,479
15 years$4,775$4,087$3,485$2,962$2,510$2,157
16 years$4,430$3,750$3,160$2,652$2,218$1,884
17 years$4,126$3,454$2,875$2,383$1,967$1,650
18 years$3,857$3,191$2,625$2,148$1,749$1,449
19 years$3,615$2,958$2,403$1,940$1,559$1,275
20 years$3,399$2,748$2,205$1,757$1,392$1,124
21 years$3,203$2,560$2,029$1,595$1,246$993
22 years$3,025$2,390$1,870$1,450$1,117$878
23 years$2,863$2,235$1,726$1,321$1,002$778
24 years$2,714$2,094$1,596$1,205$901$690
25 years$2,578$1,965$1,479$1,100$811$612
26 years$2,453$1,847$1,371$1,006$730$544
27 years$2,336$1,738$1,273$921$658$483
28 years$2,229$1,638$1,184$844$594$430
29 years$2,129$1,545$1,102$774$537$383
30 years$2,036$1,459$1,026$710$485$341
31 years$1,949$1,380$957$652$438$304
32 years$1,867$1,305$893$599$396$271
33 years$1,791$1,236$833$551$359$241
34 years$1,719$1,172$779$507$325$215
35 years$1,652$1,111$728$467$294$192
36 years$1,588$1,055$681$430$267$172
37 years$1,528$1,002$637$396$242$153
38 years$1,472$952$597$365$219$137
39 years$1,418$905$559$337$199$122
40 years$1,367$861$524$310$180$109
41 years$1,319$820$492$286$163$97
42 years$1,273$781$461$264$148$87
43 years$1,230$744$433$244$135$78
44 years$1,188$709$406$225$122$70
45 years$1,149$676$381$208$111$62
46 years$1,111$645$358$192$101$56
47 years$1,075$616$336$178$91$50
48 years$1,041$588$316$164$83$44
49 years$1,008$561$297$152$75$40
50 years$976$536$279$140$69$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,000,000, adding $3,146 every year, while hoping to spend $40,614 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: 49/24/27 Blend
46$1,000,000$1,000,000$1,000,000$1,000,000
47$1,105,245$1,052,245$1,036,745$1,150,792
48$1,174,767$1,060,592$1,028,263$1,191,356
49$1,250,019$1,067,987$1,018,136$1,231,123
50$1,331,543$1,074,340$1,006,265$1,273,530
51$1,419,934$1,079,556$992,548$1,318,848
52$1,515,846$1,083,534$976,878$1,367,373
53$1,620,001$1,086,165$959,142$1,419,437
54$1,733,190$1,087,336$939,222$1,475,406
55$1,856,285$1,086,925$916,995$1,535,685
56$1,990,244$1,084,803$892,333$1,600,723
57$2,136,122$1,080,832$865,100$1,671,019
58$2,295,081$1,074,866$835,154$1,747,123
59$2,468,397$1,066,753$802,350$1,829,645
60$2,657,477$1,056,327$766,532$1,919,260
61$2,863,868$1,043,415$727,539$2,016,716
62$3,089,274$1,027,834$685,203$2,122,838
63$3,335,569$1,009,387$639,347$2,238,541
64$3,604,820$987,870$589,787$2,364,838
65$3,899,298$963,062$536,332$2,502,846
66$4,221,506$934,732$478,779$2,653,804
67$4,574,201$902,635$416,920$2,819,078
68$4,960,418$866,512$350,534$3,000,182
69$5,383,497$826,088$279,393$3,198,787
70$5,847,119$781,072$203,259$3,416,740
71$6,355,338$731,157$121,880$3,656,084
72$6,912,617$676,018$34,998$3,919,074
73$7,523,873$615,312$0$4,208,204
74$8,194,522$548,676$0$4,542,856
75$8,930,528$475,726$0$4,921,283
76$9,738,462$396,057$0$5,336,839
77$10,625,561$309,240$0$5,793,322
78$11,599,798$214,823$0$6,294,924
79$12,669,956$112,327$0$6,846,265
80$13,845,710$1,250$0$7,452,442
81$15,137,719$0$0$8,119,076
82$16,557,724$0$0$8,883,778
83$18,118,663$0$0$9,724,857
84$19,834,787$0$0$10,649,675
85$21,721,799$0$0$11,666,711
86$23,796,997$0$0$12,785,304
87$26,079,442$0$0$14,015,744
88$28,590,134$0$0$15,369,368
89$31,352,210$0$0$16,858,669
90$34,391,163$0$0$18,497,409
91$37,735,081$0$0$20,300,755
92$41,414,914$0$0$22,285,415
93$45,464,761$0$0$24,469,801
94$49,922,198$0$0$26,874,199
95$54,828,623$0$0$29,520,963
96$60,229,657$0$0$32,434,723
97$66,175,564$0$0$35,642,619
98$72,721,731$0$0$39,174,556
99$79,929,190$0$0$43,063,488
100$87,865,190$0$0$47,345,723