Can I retire at age 47 with 1,040,000?

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 $1,040,000?

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$85,882$85,117$84,371$83,642$82,931$79,767
2 years$42,516$41,724$40,957$40,213$39,491$36,340
3 years$28,062$27,267$26,502$25,765$25,055$22,017
4 years$20,837$20,044$19,286$18,562$17,869$14,967
5 years$16,503$15,715$14,967$14,257$13,584$10,825
6 years$13,615$12,832$12,096$11,402$10,748$8,135
7 years$11,552$10,777$10,052$9,374$8,741$6,272
8 years$10,006$9,238$8,524$7,864$7,252$4,925
9 years$8,804$8,043$7,342$6,698$6,107$3,919
10 years$7,843$7,089$6,401$5,774$5,204$3,150
11 years$7,058$6,311$5,635$5,025$4,475$2,551
12 years$6,403$5,665$5,001$4,408$3,878$2,079
13 years$5,850$5,119$4,468$3,891$3,382$1,703
14 years$5,376$4,653$4,015$3,454$2,964$1,400
15 years$4,966$4,251$3,625$3,081$2,610$1,155
16 years$4,608$3,900$3,286$2,758$2,307$955
17 years$4,292$3,592$2,991$2,478$2,045$791
18 years$4,011$3,319$2,730$2,233$1,819$656
19 years$3,760$3,076$2,499$2,018$1,621$546
20 years$3,535$2,858$2,294$1,828$1,448$454
21 years$3,331$2,662$2,110$1,659$1,296$378
22 years$3,146$2,485$1,944$1,508$1,161$315
23 years$2,977$2,324$1,795$1,374$1,043$263
24 years$2,823$2,178$1,660$1,253$937$219
25 years$2,681$2,044$1,538$1,144$843$183
26 years$2,551$1,921$1,426$1,046$760$153
27 years$2,430$1,808$1,324$958$685$128
28 years$2,318$1,703$1,231$877$618$107
29 years$2,214$1,607$1,146$805$558$89
30 years$2,117$1,518$1,067$738$504$75
31 years$2,027$1,435$995$678$456$62
32 years$1,942$1,357$928$623$412$52
33 years$1,862$1,286$867$573$373$44
34 years$1,788$1,218$810$527$338$37
35 years$1,718$1,156$757$485$306$31
36 years$1,652$1,097$708$447$277$26
37 years$1,589$1,042$663$412$251$21
38 years$1,530$990$621$380$228$18
39 years$1,475$941$582$350$207$15
40 years$1,422$896$545$323$187$13
41 years$1,372$853$511$298$170$10
42 years$1,324$812$480$275$154$9
43 years$1,279$774$450$254$140$7
44 years$1,236$738$422$234$127$6
45 years$1,195$703$397$216$115$5
46 years$1,155$671$372$200$105$4
47 years$1,118$640$350$185$95$4
48 years$1,082$611$329$171$86$3
49 years$1,048$584$309$158$78$3
50 years$1,015$558$291$146$71$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,040,000, adding $2,150 every year, while hoping to spend $57,652 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: 76/12/12 Blend
46$1,040,000$1,040,000$1,040,000$1,040,000
47$1,148,298$1,093,178$1,077,058$1,232,714
48$1,204,083$1,085,402$1,051,798$1,280,880
49$1,263,626$1,075,313$1,023,760$1,326,170
50$1,327,249$1,062,737$992,789$1,374,206
51$1,395,306$1,047,489$958,725$1,425,241
52$1,468,184$1,029,372$921,399$1,479,553
53$1,546,308$1,008,181$880,635$1,537,452
54$1,630,144$983,695$836,249$1,599,277
55$1,720,204$955,681$788,049$1,665,403
56$1,817,050$923,894$735,834$1,736,246
57$1,921,297$888,074$679,392$1,812,263
58$2,033,624$847,943$618,506$1,893,959
59$2,154,773$803,212$552,945$1,981,892
60$2,285,561$753,570$482,470$2,076,678
61$2,426,886$698,693$406,831$2,178,997
62$2,579,734$638,235$325,766$2,289,600
63$2,745,190$571,832$239,002$2,409,314
64$2,924,446$499,098$146,255$2,539,055
65$3,118,812$419,627$47,227$2,679,833
66$3,329,730$332,987$0$2,832,762
67$3,558,785$238,726$0$3,006,557
68$3,807,720$136,362$0$3,202,032
69$4,078,453$25,390$0$3,414,676
70$4,373,095$0$0$3,646,189
71$4,693,968$0$0$3,910,952
72$5,043,626$0$0$4,203,158
73$5,424,883$0$0$4,521,806
74$5,840,831$0$0$4,869,490
75$6,294,879$0$0$5,249,061
76$6,790,776$0$0$5,663,659
77$7,332,649$0$0$6,116,740
78$7,925,043$0$0$6,612,111
79$8,572,963$0$0$7,153,960
80$9,281,916$0$0$7,746,902
81$10,057,970$0$0$8,396,016
82$10,907,805$0$0$9,106,895
83$11,838,776$0$0$9,885,701
84$12,858,984$0$0$10,739,217
85$13,977,353$0$0$11,674,914
86$15,203,708$0$0$12,701,022
87$16,548,872$0$0$13,826,603
88$18,024,766$0$0$15,061,642
89$19,644,521$0$0$16,417,133
90$21,422,598$0$0$17,905,189
91$23,374,932$0$0$19,539,152
92$25,519,071$0$0$21,333,721
93$27,874,349$0$0$23,305,084
94$30,462,065$0$0$25,471,080
95$33,305,679$0$0$27,851,356
96$36,431,042$0$0$30,467,561
97$39,866,629$0$0$33,343,543
98$43,643,815$0$0$36,505,577
99$47,797,163$0$0$39,982,609
100$52,364,756$0$0$43,806,532