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%19.7%
1 years$82,579$81,843$81,126$80,425$79,741$76,638
2 years$40,881$40,119$39,381$38,666$37,972$34,883
3 years$26,983$26,218$25,482$24,774$24,091$21,114
4 years$20,036$19,273$18,545$17,848$17,182$14,339
5 years$15,868$15,111$14,391$13,709$13,061$10,360
6 years$13,091$12,339$11,630$10,963$10,335$7,776
7 years$11,108$10,362$9,665$9,013$8,405$5,989
8 years$9,621$8,882$8,197$7,561$6,973$4,697
9 years$8,466$7,734$7,060$6,440$5,872$3,733
10 years$7,542$6,817$6,155$5,552$5,003$2,996
11 years$6,786$6,069$5,419$4,832$4,303$2,424
12 years$6,157$5,447$4,809$4,238$3,729$1,973
13 years$5,625$4,922$4,296$3,742$3,252$1,614
14 years$5,170$4,474$3,860$3,321$2,850$1,325
15 years$4,775$4,087$3,485$2,962$2,510$1,091
16 years$4,430$3,750$3,160$2,652$2,218$901
17 years$4,126$3,454$2,875$2,383$1,967$745
18 years$3,857$3,191$2,625$2,148$1,749$617
19 years$3,615$2,958$2,403$1,940$1,559$512
20 years$3,399$2,748$2,205$1,757$1,392$426
21 years$3,203$2,560$2,029$1,595$1,246$354
22 years$3,025$2,390$1,870$1,450$1,117$295
23 years$2,863$2,235$1,726$1,321$1,002$245
24 years$2,714$2,094$1,596$1,205$901$204
25 years$2,578$1,965$1,479$1,100$811$170
26 years$2,453$1,847$1,371$1,006$730$142
27 years$2,336$1,738$1,273$921$658$119
28 years$2,229$1,638$1,184$844$594$99
29 years$2,129$1,545$1,102$774$537$83
30 years$2,036$1,459$1,026$710$485$69
31 years$1,949$1,380$957$652$438$57
32 years$1,867$1,305$893$599$396$48
33 years$1,791$1,236$833$551$359$40
34 years$1,719$1,172$779$507$325$33
35 years$1,652$1,111$728$467$294$28
36 years$1,588$1,055$681$430$267$23
37 years$1,528$1,002$637$396$242$19
38 years$1,472$952$597$365$219$16
39 years$1,418$905$559$337$199$14
40 years$1,367$861$524$310$180$11
41 years$1,319$820$492$286$163$9
42 years$1,273$781$461$264$148$8
43 years$1,230$744$433$244$135$7
44 years$1,188$709$406$225$122$6
45 years$1,149$676$381$208$111$5
46 years$1,111$645$358$192$101$4
47 years$1,075$616$336$178$91$3
48 years$1,041$588$316$164$83$3
49 years$1,008$561$297$152$75$2
50 years$976$536$279$140$69$2

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 $5,489 every year, while hoping to spend $59,235 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: 57/29/14 Blend
46$1,000,000$1,000,000$1,000,000$1,000,000
47$1,107,662$1,054,662$1,039,162$1,166,526
48$1,157,618$1,043,315$1,010,948$1,195,662
49$1,210,684$1,029,426$979,804$1,220,417
50$1,267,115$1,012,809$945,569$1,246,013
51$1,327,190$993,266$908,074$1,272,541
52$1,391,213$970,586$867,145$1,300,103
53$1,459,519$944,547$822,597$1,328,815
54$1,532,474$914,914$774,238$1,358,808
55$1,610,480$881,438$721,868$1,390,229
56$1,693,975$843,855$665,276$1,423,244
57$1,783,442$801,885$604,245$1,458,040
58$1,879,410$755,235$538,544$1,494,826
59$1,982,460$703,591$467,936$1,533,837
60$2,093,229$646,625$392,169$1,575,338
61$2,212,415$583,987$310,984$1,619,624
62$2,340,788$515,308$224,108$1,667,026
63$2,479,189$440,200$131,257$1,717,914
64$2,628,546$358,249$32,134$1,772,703
65$2,789,877$269,022$0$1,831,854
66$2,964,300$172,060$0$1,906,887
67$3,153,045$66,877$0$1,993,212
68$3,357,462$0$0$2,086,718
69$3,579,039$0$0$2,203,185
70$3,819,408$0$0$2,352,755
71$4,080,368$0$0$2,515,213
72$4,363,893$0$0$2,691,801
73$4,672,160$0$0$2,883,881
74$5,007,558$0$0$3,092,955
75$5,372,721$0$0$3,320,675
76$5,770,543$0$0$3,568,858
77$6,204,213$0$0$3,839,503
78$6,677,236$0$0$4,134,814
79$7,193,474$0$0$4,457,211
80$7,757,176$0$0$4,809,364
81$8,373,019$0$0$5,194,208
82$9,046,154$0$0$5,614,977
83$9,782,249$0$0$6,075,228
84$10,587,548$0$0$6,578,883
85$11,468,924$0$0$7,130,256
86$12,433,946$0$0$7,734,099
87$13,490,949$0$0$8,395,645
88$14,649,111$0$0$9,120,659
89$15,918,542$0$0$9,915,486
90$17,310,373$0$0$10,787,119
91$18,836,869$0$0$11,743,256
92$20,511,533$0$0$12,792,378
93$22,349,241$0$0$13,943,826
94$24,366,381$0$0$15,207,891
95$26,581,000$0$0$16,595,908
96$29,012,982$0$0$18,120,362
97$31,684,229$0$0$19,795,007
98$34,618,868$0$0$21,634,997
99$37,843,481$0$0$23,657,024
100$41,387,349$0$0$25,879,479