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%14.2%
1 years$82,579$81,843$81,126$80,425$79,741$78,356
2 years$40,881$40,119$39,381$38,666$37,972$36,581
3 years$26,983$26,218$25,482$24,774$24,091$22,737
4 years$20,036$19,273$18,545$17,848$17,182$15,876
5 years$15,868$15,111$14,391$13,709$13,061$11,807
6 years$13,091$12,339$11,630$10,963$10,335$9,134
7 years$11,108$10,362$9,665$9,013$8,405$7,257
8 years$9,621$8,882$8,197$7,561$6,973$5,878
9 years$8,466$7,734$7,060$6,440$5,872$4,830
10 years$7,542$6,817$6,155$5,552$5,003$4,013
11 years$6,786$6,069$5,419$4,832$4,303$3,363
12 years$6,157$5,447$4,809$4,238$3,729$2,838
13 years$5,625$4,922$4,296$3,742$3,252$2,409
14 years$5,170$4,474$3,860$3,321$2,850$2,054
15 years$4,775$4,087$3,485$2,962$2,510$1,758
16 years$4,430$3,750$3,160$2,652$2,218$1,510
17 years$4,126$3,454$2,875$2,383$1,967$1,300
18 years$3,857$3,191$2,625$2,148$1,749$1,122
19 years$3,615$2,958$2,403$1,940$1,559$971
20 years$3,399$2,748$2,205$1,757$1,392$841
21 years$3,203$2,560$2,029$1,595$1,246$729
22 years$3,025$2,390$1,870$1,450$1,117$634
23 years$2,863$2,235$1,726$1,321$1,002$551
24 years$2,714$2,094$1,596$1,205$901$479
25 years$2,578$1,965$1,479$1,100$811$418
26 years$2,453$1,847$1,371$1,006$730$364
27 years$2,336$1,738$1,273$921$658$317
28 years$2,229$1,638$1,184$844$594$277
29 years$2,129$1,545$1,102$774$537$242
30 years$2,036$1,459$1,026$710$485$211
31 years$1,949$1,380$957$652$438$184
32 years$1,867$1,305$893$599$396$161
33 years$1,791$1,236$833$551$359$141
34 years$1,719$1,172$779$507$325$123
35 years$1,652$1,111$728$467$294$108
36 years$1,588$1,055$681$430$267$94
37 years$1,528$1,002$637$396$242$82
38 years$1,472$952$597$365$219$72
39 years$1,418$905$559$337$199$63
40 years$1,367$861$524$310$180$55
41 years$1,319$820$492$286$163$48
42 years$1,273$781$461$264$148$42
43 years$1,230$744$433$244$135$37
44 years$1,188$709$406$225$122$32
45 years$1,149$676$381$208$111$28
46 years$1,111$645$358$192$101$25
47 years$1,075$616$336$178$91$22
48 years$1,041$588$316$164$83$19
49 years$1,008$561$297$152$75$17
50 years$976$536$279$140$69$15

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 $2,019 every year, while hoping to spend $45,757 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: 77/9/14 Blend
46$1,000,000$1,000,000$1,000,000$1,000,000
47$1,104,083$1,051,083$1,035,583$1,185,747
48$1,168,014$1,053,901$1,021,590$1,242,686
49$1,236,933$1,055,323$1,005,594$1,299,120
50$1,311,299$1,055,233$987,481$1,359,733
51$1,391,619$1,053,507$967,129$1,424,923
52$1,478,449$1,050,014$944,413$1,495,133
53$1,572,400$1,044,613$919,199$1,570,847
54$1,674,142$1,037,157$891,350$1,652,603
55$1,784,415$1,027,488$860,720$1,740,991
56$1,904,030$1,015,440$827,160$1,836,663
57$2,033,881$1,000,836$790,509$1,940,337
58$2,174,949$983,489$750,603$2,052,805
59$2,328,315$963,201$707,269$2,174,940
60$2,495,167$939,762$660,327$2,307,705
61$2,676,812$912,949$609,587$2,452,161
62$2,874,691$882,527$554,851$2,609,478
63$3,090,386$848,247$495,915$2,780,947
64$3,325,639$809,846$432,563$2,967,991
65$3,582,370$767,043$364,569$3,172,179
66$3,862,689$719,546$291,699$3,395,241
67$4,168,920$667,040$213,708$3,639,084
68$4,503,623$609,198$130,340$3,905,811
69$4,869,613$545,669$41,327$4,197,741
70$5,269,993$476,087$0$4,517,432
71$5,708,177$400,060$0$4,875,718
72$6,187,927$317,179$0$5,274,802
73$6,713,383$227,008$0$5,711,975
74$7,289,106$129,089$0$6,191,064
75$7,920,117$22,937$0$6,716,285
76$8,611,948$0$0$7,292,282
77$9,370,692$0$0$7,933,281
78$10,203,058$0$0$8,639,006
79$11,116,436$0$0$9,413,455
80$12,118,968$0$0$10,263,536
81$13,219,622$0$0$11,196,858
82$14,428,274$0$0$12,221,801
83$15,755,806$0$0$13,347,598
84$17,214,206$0$0$14,584,421
85$18,816,679$0$0$15,943,474
86$20,577,773$0$0$17,437,101
87$22,513,515$0$0$19,078,901
88$24,641,562$0$0$20,883,855
89$26,981,367$0$0$22,868,471
90$29,554,363$0$0$25,050,932
91$32,384,163$0$0$27,451,276
92$35,496,783$0$0$30,091,577
93$38,920,887$0$0$32,996,158
94$42,688,059$0$0$36,191,815
95$46,833,094$0$0$39,708,077
96$51,394,336$0$0$43,577,475
97$56,414,028$0$0$47,835,855
98$61,938,719$0$0$52,522,715
99$68,019,699$0$0$57,681,574
100$74,713,480$0$0$63,360,385