Can I retire at age 47 with 1,950,000?

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 $1,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$161,029$159,595$158,195$156,829$155,496$149,979
2 years$79,717$78,233$76,794$75,399$74,046$68,546
3 years$52,617$51,126$49,691$48,309$46,978$41,668
4 years$39,070$37,583$36,162$34,804$33,505$28,426
5 years$30,943$29,466$28,063$26,733$25,470$20,636
6 years$25,527$24,061$22,679$21,378$20,153$15,567
7 years$21,660$20,206$18,847$17,576$16,390$12,051
8 years$18,761$17,320$15,983$14,744$13,597$9,501
9 years$16,508$15,081$13,767$12,559$11,451$7,593
10 years$14,706$13,293$12,002$10,826$9,757$6,130
11 years$13,233$11,834$10,566$9,422$8,391$4,988
12 years$12,006$10,621$9,377$8,264$7,271$4,085
13 years$10,969$9,599$8,378$7,296$6,341$3,361
14 years$10,081$8,725$7,528$6,477$5,558$2,777
15 years$9,312$7,970$6,797$5,776$4,894$2,302
16 years$8,639$7,313$6,162$5,172$4,325$1,913
17 years$8,047$6,735$5,607$4,647$3,835$1,593
18 years$7,520$6,223$5,119$4,188$3,410$1,329
19 years$7,050$5,768$4,686$3,784$3,039$1,110
20 years$6,627$5,359$4,300$3,427$2,715$929
21 years$6,245$4,992$3,956$3,110$2,430$778
22 years$5,899$4,660$3,646$2,828$2,178$652
23 years$5,583$4,358$3,366$2,575$1,955$547
24 years$5,293$4,084$3,113$2,349$1,757$459
25 years$5,027$3,832$2,883$2,145$1,581$385
26 years$4,782$3,602$2,674$1,961$1,424$324
27 years$4,556$3,390$2,483$1,795$1,284$272
28 years$4,346$3,194$2,308$1,645$1,159$228
29 years$4,151$3,013$2,148$1,508$1,046$192
30 years$3,969$2,846$2,001$1,384$945$162
31 years$3,800$2,690$1,865$1,271$855$136
32 years$3,641$2,545$1,741$1,169$773$114
33 years$3,492$2,410$1,625$1,075$700$96
34 years$3,352$2,285$1,518$989$633$81
35 years$3,221$2,167$1,420$910$574$68
36 years$3,097$2,057$1,328$838$520$57
37 years$2,980$1,953$1,243$772$471$48
38 years$2,870$1,856$1,164$712$427$41
39 years$2,765$1,765$1,091$656$387$34
40 years$2,666$1,679$1,022$605$351$29
41 years$2,572$1,599$958$559$319$24
42 years$2,483$1,523$899$515$289$20
43 years$2,398$1,451$844$476$262$17
44 years$2,317$1,383$792$439$238$14
45 years$2,240$1,319$744$406$216$12
46 years$2,166$1,258$698$375$196$10
47 years$2,096$1,200$656$346$178$9
48 years$2,029$1,146$617$320$162$7
49 years$1,965$1,094$580$296$147$6
50 years$1,904$1,045$545$273$134$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,950,000, adding $3,109 every year, while hoping to spend $39,585 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: 31/40/29 Blend
46$1,950,000$1,950,000$1,950,000$1,950,000
47$2,152,107$2,048,757$2,018,532$2,199,650
48$2,329,504$2,107,028$2,044,035$2,295,108
49$2,523,668$2,166,827$2,069,065$2,394,113
50$2,736,269$2,228,189$2,093,565$2,499,916
51$2,969,143$2,291,145$2,117,475$2,613,139
52$3,224,315$2,355,730$2,140,729$2,734,469
53$3,504,012$2,421,978$2,163,260$2,864,661
54$3,810,689$2,489,922$2,184,997$3,004,547
55$4,147,049$2,559,598$2,205,864$3,155,042
56$4,516,069$2,631,040$2,225,782$3,317,153
57$4,921,029$2,704,281$2,244,667$3,491,992
58$5,365,541$2,779,358$2,262,430$3,680,779
59$5,853,584$2,856,305$2,278,979$3,884,861
60$6,389,542$2,935,155$2,294,217$4,105,721
61$6,978,242$3,015,945$2,308,040$4,344,992
62$7,625,004$3,098,707$2,320,341$4,604,474
63$8,335,687$3,183,477$2,331,005$4,886,148
64$9,116,748$3,270,288$2,339,914$5,192,199
65$9,975,298$3,359,174$2,346,943$5,525,033
66$10,919,172$3,450,167$2,351,959$5,887,300
67$11,957,002$3,543,300$2,354,825$6,281,923
68$13,098,300$3,638,605$2,355,395$6,712,119
69$14,353,543$3,736,113$2,353,517$7,181,437
70$15,734,276$3,835,855$2,349,032$7,693,786
71$17,253,219$3,937,858$2,341,771$8,253,472
72$18,924,387$4,042,153$2,331,560$8,865,242
73$20,763,221$4,148,765$2,318,214$9,534,329
74$22,786,735$4,257,720$2,301,540$10,266,498
75$25,013,676$4,369,043$2,281,336$11,068,102
76$27,464,700$4,482,755$2,257,389$11,946,145
77$30,162,567$4,598,877$2,229,479$12,908,342
78$33,132,355$4,717,429$2,197,373$13,963,201
79$36,401,698$4,838,425$2,160,827$15,120,096
80$40,001,043$4,961,880$2,119,587$16,389,357
81$43,963,943$5,087,805$2,073,386$17,782,372
82$48,327,366$5,216,208$2,021,946$19,311,690
83$53,132,049$5,347,095$1,964,974$20,991,143
84$58,422,883$5,480,467$1,902,165$22,835,975
85$64,249,329$5,616,322$1,833,199$24,862,987
86$70,665,893$5,754,655$1,757,744$27,090,698
87$77,732,636$5,895,454$1,675,450$29,539,516
88$85,515,739$6,038,705$1,585,952$32,231,935
89$94,088,131$6,184,389$1,488,868$35,192,746
90$103,530,176$6,332,479$1,383,800$38,449,274
91$113,930,428$6,482,945$1,270,332$42,031,633
92$125,386,472$6,635,749$1,148,028$45,973,014
93$138,005,839$6,790,848$1,016,434$50,309,997
94$151,907,025$6,948,190$875,075$55,082,900
95$167,220,606$7,107,716$723,455$60,336,156
96$184,090,473$7,269,359$561,056$66,118,740
97$202,675,188$7,433,044$387,337$72,484,625
98$223,149,479$7,598,686$201,735$79,493,297
99$245,705,893$7,766,188$3,661$87,210,318
100$270,556,609$7,935,446$0$95,707,945