Can I retire at age 47 with 1,010,000?

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 $1,010,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$83,405$82,662$81,937$81,230$80,539$78,624
2 years$41,290$40,521$39,775$39,053$38,352$36,434
3 years$27,253$26,481$25,737$25,021$24,332$22,471
4 years$20,236$19,466$18,730$18,027$17,354$15,564
5 years$16,027$15,262$14,535$13,846$13,192$11,478
6 years$13,222$12,462$11,747$11,073$10,438$8,802
7 years$11,219$10,466$9,762$9,104$8,489$6,931
8 years$9,717$8,971$8,279$7,637$7,043$5,562
9 years$8,550$7,811$7,130$6,505$5,931$4,527
10 years$7,617$6,885$6,216$5,607$5,053$3,724
11 years$6,854$6,129$5,473$4,880$4,346$3,089
12 years$6,219$5,501$4,857$4,280$3,766$2,580
13 years$5,681$4,972$4,339$3,779$3,284$2,167
14 years$5,221$4,519$3,899$3,355$2,879$1,828
15 years$4,823$4,128$3,520$2,992$2,535$1,547
16 years$4,475$3,788$3,192$2,679$2,240$1,314
17 years$4,168$3,488$2,904$2,407$1,986$1,118
18 years$3,895$3,223$2,651$2,169$1,766$954
19 years$3,652$2,987$2,427$1,960$1,574$815
20 years$3,433$2,776$2,227$1,775$1,406$698
21 years$3,235$2,586$2,049$1,611$1,258$598
22 years$3,055$2,414$1,888$1,465$1,128$513
23 years$2,891$2,257$1,743$1,334$1,013$441
24 years$2,742$2,115$1,612$1,217$910$379
25 years$2,604$1,985$1,493$1,111$819$326
26 years$2,477$1,865$1,385$1,016$738$280
27 years$2,360$1,756$1,286$930$665$241
28 years$2,251$1,654$1,196$852$600$208
29 years$2,150$1,561$1,113$781$542$179
30 years$2,056$1,474$1,036$717$490$154
31 years$1,968$1,393$966$659$443$133
32 years$1,886$1,318$901$605$400$115
33 years$1,809$1,248$842$557$362$99
34 years$1,736$1,183$786$512$328$85
35 years$1,668$1,122$735$471$297$74
36 years$1,604$1,065$688$434$269$64
37 years$1,544$1,012$644$400$244$55
38 years$1,486$962$603$369$221$47
39 years$1,432$914$565$340$201$41
40 years$1,381$870$529$314$182$35
41 years$1,332$828$496$289$165$30
42 years$1,286$789$466$267$150$26
43 years$1,242$751$437$246$136$23
44 years$1,200$716$410$228$123$20
45 years$1,160$683$385$210$112$17
46 years$1,122$652$362$194$102$15
47 years$1,086$622$340$179$92$13
48 years$1,051$594$319$166$84$11
49 years$1,018$567$300$153$76$9
50 years$986$541$282$142$69$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,010,000, adding $3,151 every year, while hoping to spend $37,223 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: 50/23/27 Blend
46$1,010,000$1,010,000$1,010,000$1,010,000
47$1,116,270$1,062,740$1,047,085$1,163,424
48$1,190,525$1,075,210$1,042,558$1,209,140
49$1,271,106$1,087,042$1,036,631$1,254,830
50$1,358,619$1,098,168$1,029,219$1,303,758
51$1,453,732$1,108,511$1,020,231$1,356,247
52$1,557,176$1,117,992$1,009,572$1,412,656
53$1,669,760$1,126,526$997,145$1,473,381
54$1,792,370$1,134,020$982,844$1,538,861
55$1,925,984$1,140,380$966,561$1,609,580
56$2,071,677$1,145,500$948,183$1,686,074
57$2,230,631$1,149,273$927,590$1,768,936
58$2,404,149$1,151,581$904,659$1,858,820
59$2,593,665$1,152,302$879,258$1,956,451
60$2,800,757$1,151,302$851,251$2,062,627
61$3,027,162$1,148,444$820,496$2,178,234
62$3,274,794$1,143,579$786,843$2,304,247
63$3,545,758$1,136,549$750,137$2,441,747
64$3,842,373$1,127,189$710,215$2,591,926
65$4,167,195$1,115,320$666,907$2,756,100
66$4,523,034$1,100,756$620,034$2,935,725
67$4,912,989$1,083,299$569,411$3,132,407
68$5,340,471$1,062,737$514,842$3,347,922
69$5,809,235$1,038,848$456,126$3,584,229
70$6,323,421$1,011,395$393,050$3,843,491
71$6,887,586$980,129$325,393$4,128,099
72$7,506,749$944,785$252,924$4,440,690
73$8,186,441$905,083$175,400$4,784,176
74$8,932,753$860,727$92,571$5,161,772
75$9,752,394$811,403$4,172$5,577,026
76$10,652,757$756,780$0$6,033,855
77$11,641,983$696,508$0$6,562,556
78$12,729,044$630,215$0$7,144,895
79$13,923,822$557,511$0$7,785,019
80$15,237,204$477,981$0$8,488,826
81$16,681,185$391,189$0$9,262,820
82$18,268,981$296,672$0$10,114,171
83$20,015,150$193,942$0$11,050,781
84$21,935,736$82,485$0$12,081,365
85$24,048,410$0$0$13,215,529
86$26,372,648$0$0$14,473,542
87$28,929,903$0$0$15,880,770
88$31,743,817$0$0$17,429,358
89$34,840,436$0$0$19,133,659
90$38,248,461$0$0$21,009,483
91$41,999,515$0$0$23,074,253
92$46,128,443$0$0$25,347,167
93$50,673,638$0$0$27,849,377
94$55,677,406$0$0$30,604,191
95$61,186,362$0$0$33,637,293
96$67,251,873$0$0$36,976,983
97$73,930,537$0$0$40,654,445
98$81,284,723$0$0$44,704,041
99$89,383,154$0$0$49,163,636
100$98,301,558$0$0$54,074,952