Can I retire at age 47 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$160,203$158,776$157,384$156,025$154,698$149,926
2 years$79,309$77,832$76,400$75,012$73,666$68,900
3 years$52,347$50,864$49,436$48,061$46,737$42,126
4 years$38,869$37,390$35,977$34,625$33,333$28,913
5 years$30,784$29,314$27,919$26,596$25,339$21,122
6 years$25,396$23,937$22,563$21,269$20,050$16,040
7 years$21,549$20,103$18,750$17,486$16,306$12,502
8 years$18,665$17,232$15,901$14,669$13,527$9,927
9 years$16,423$15,003$13,696$12,494$11,392$7,991
10 years$14,631$13,225$11,940$10,770$9,707$6,501
11 years$13,165$11,773$10,512$9,373$8,348$5,331
12 years$11,945$10,567$9,329$8,222$7,234$4,400
13 years$10,913$9,549$8,335$7,259$6,308$3,651
14 years$10,029$8,680$7,489$6,443$5,530$3,041
15 years$9,264$7,929$6,762$5,746$4,869$2,542
16 years$8,595$7,275$6,130$5,145$4,303$2,131
17 years$8,005$6,700$5,578$4,623$3,816$1,791
18 years$7,482$6,191$5,092$4,166$3,393$1,507
19 years$7,014$5,738$4,662$3,765$3,024$1,271
20 years$6,593$5,332$4,278$3,409$2,701$1,073
21 years$6,213$4,967$3,935$3,094$2,417$907
22 years$5,868$4,636$3,627$2,813$2,167$767
23 years$5,554$4,336$3,349$2,562$1,945$650
24 years$5,266$4,063$3,097$2,337$1,748$550
25 years$5,002$3,813$2,869$2,134$1,573$466
26 years$4,758$3,583$2,660$1,951$1,417$396
27 years$4,533$3,372$2,470$1,786$1,277$336
28 years$4,324$3,178$2,297$1,637$1,153$285
29 years$4,130$2,998$2,137$1,501$1,041$242
30 years$3,949$2,831$1,991$1,377$940$205
31 years$3,780$2,676$1,856$1,265$850$174
32 years$3,622$2,532$1,732$1,163$769$148
33 years$3,474$2,398$1,617$1,069$696$126
34 years$3,335$2,273$1,511$984$630$107
35 years$3,204$2,156$1,412$905$571$91
36 years$3,081$2,046$1,321$834$517$77
37 years$2,965$1,943$1,237$768$469$66
38 years$2,855$1,847$1,158$708$425$56
39 years$2,751$1,756$1,085$653$385$47
40 years$2,652$1,671$1,017$602$350$40
41 years$2,559$1,591$954$556$317$34
42 years$2,470$1,515$894$513$288$29
43 years$2,385$1,443$839$473$261$25
44 years$2,305$1,376$788$437$237$21
45 years$2,228$1,312$740$404$215$18
46 years$2,155$1,251$695$373$195$15
47 years$2,086$1,194$653$345$177$13
48 years$2,019$1,140$613$318$161$11
49 years$1,955$1,089$577$294$146$9
50 years$1,894$1,040$542$272$133$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,940,000, adding $5,761 every year, while hoping to spend $46,620 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: 65/11/24 Blend
46$1,940,000$1,940,000$1,940,000$1,940,000
47$2,143,822$2,041,002$2,010,932$2,269,449
48$2,312,889$2,091,408$2,028,695$2,405,203
49$2,497,638$2,142,721$2,045,491$2,547,750
50$2,699,619$2,194,937$2,061,237$2,702,488
51$2,920,541$2,248,049$2,075,849$2,870,620
52$3,162,281$2,302,049$2,089,235$3,053,466
53$3,426,910$2,356,925$2,101,300$3,252,486
54$3,716,706$2,412,666$2,111,945$3,469,285
55$4,034,180$2,469,256$2,121,065$3,705,633
56$4,382,094$2,526,678$2,128,549$3,963,481
57$4,763,493$2,584,911$2,134,281$4,244,979
58$5,181,730$2,643,932$2,138,140$4,552,493
59$5,640,496$2,703,714$2,139,997$4,888,636
60$6,143,858$2,764,228$2,139,718$5,256,283
61$6,696,296$2,825,439$2,137,163$5,658,605
62$7,302,745$2,887,312$2,132,185$6,099,095
63$7,968,639$2,949,805$2,124,627$6,581,604
64$8,699,966$3,012,871$2,114,328$7,110,375
65$9,503,322$3,076,461$2,101,118$7,690,084
66$10,385,973$3,140,520$2,084,818$8,325,887
67$11,355,924$3,204,988$2,065,241$9,023,464
68$12,421,994$3,269,797$2,042,191$9,789,075
69$13,593,897$3,334,877$2,015,465$10,629,621
70$14,882,337$3,400,149$1,984,845$11,552,707
71$16,299,107$3,465,527$1,950,109$12,566,713
72$17,857,198$3,530,921$1,911,021$13,680,879
73$19,570,926$3,596,230$1,867,333$14,905,384
74$21,456,062$3,661,346$1,818,790$16,251,450
75$23,529,981$3,726,153$1,765,121$17,731,444
76$25,811,831$3,790,526$1,706,043$19,358,995
77$28,322,705$3,854,329$1,641,264$21,149,125
78$31,085,848$3,917,418$1,570,473$23,118,392
79$34,126,869$3,979,637$1,493,349$25,285,041
80$37,473,989$4,040,818$1,409,554$27,669,183
81$41,158,298$4,100,781$1,318,738$30,292,984
82$45,214,060$4,159,334$1,220,530$33,180,869
83$49,679,024$4,216,271$1,114,548$36,359,762
84$54,594,787$4,271,371$1,000,388$39,859,335
85$60,007,187$4,324,400$877,632$43,712,288
86$65,966,729$4,375,104$745,842$47,954,661
87$72,529,066$4,423,215$604,559$52,626,176
88$79,755,525$4,468,447$453,305$57,770,608
89$87,713,679$4,510,492$291,582$63,436,203
90$96,477,993$4,549,025$118,869$69,676,132
91$106,130,519$4,583,697$0$76,548,995
92$116,761,673$4,614,140$0$84,136,133
93$128,471,089$4,639,958$0$92,525,538
94$141,368,557$4,660,732$0$101,765,329
95$155,575,059$4,676,018$0$111,942,115
96$171,223,912$4,685,339$0$123,151,334
97$188,462,024$4,688,194$0$135,498,158
98$207,451,281$4,684,047$0$149,098,483
99$228,370,076$4,672,329$0$164,080,023
100$251,414,990$4,652,439$0$180,583,521