Can I retire at age 47 with 1,970,000?

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 $1,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$162,681$161,232$159,818$158,438$157,091$154,999
2 years$80,535$79,035$77,582$76,172$74,805$72,701
3 years$53,157$51,650$50,200$48,804$47,459$45,409
4 years$39,470$37,968$36,533$35,161$33,848$31,867
5 years$31,260$29,768$28,351$27,007$25,731$23,824
6 years$25,789$24,308$22,912$21,598$20,360$18,530
7 years$21,883$20,413$19,040$17,757$16,558$14,806
8 years$18,954$17,498$16,147$14,896$13,737$12,061
9 years$16,677$15,235$13,908$12,688$11,568$9,970
10 years$14,857$13,429$12,125$10,937$9,857$8,334
11 years$13,369$11,955$10,675$9,518$8,477$7,028
12 years$12,129$10,730$9,474$8,349$7,346$5,969
13 years$11,082$9,697$8,464$7,371$6,406$5,100
14 years$10,184$8,814$7,605$6,543$5,615$4,378
15 years$9,407$8,052$6,866$5,835$4,944$3,773
16 years$8,728$7,388$6,225$5,225$4,370$3,263
17 years$8,129$6,804$5,665$4,694$3,875$2,830
18 years$7,598$6,287$5,171$4,231$3,445$2,460
19 years$7,122$5,827$4,734$3,823$3,071$2,143
20 years$6,695$5,414$4,345$3,462$2,743$1,871
21 years$6,310$5,043$3,996$3,142$2,454$1,635
22 years$5,959$4,708$3,683$2,857$2,200$1,431
23 years$5,640$4,403$3,401$2,602$1,975$1,254
24 years$5,347$4,125$3,145$2,373$1,775$1,100
25 years$5,079$3,871$2,913$2,167$1,597$966
26 years$4,831$3,639$2,702$1,982$1,439$848
27 years$4,603$3,424$2,509$1,814$1,297$746
28 years$4,391$3,227$2,332$1,662$1,170$656
29 years$4,194$3,044$2,170$1,524$1,057$577
30 years$4,010$2,875$2,022$1,399$955$508
31 years$3,839$2,718$1,885$1,285$863$448
32 years$3,678$2,571$1,758$1,180$781$395
33 years$3,528$2,435$1,642$1,086$707$348
34 years$3,387$2,308$1,534$999$640$307
35 years$3,254$2,189$1,434$919$580$270
36 years$3,129$2,078$1,342$847$525$238
37 years$3,011$1,973$1,256$780$476$210
38 years$2,899$1,875$1,176$719$432$186
39 years$2,793$1,783$1,102$663$391$164
40 years$2,693$1,697$1,033$612$355$145
41 years$2,598$1,615$968$564$322$128
42 years$2,508$1,538$908$521$292$113
43 years$2,422$1,466$852$481$265$99
44 years$2,341$1,397$800$444$241$88
45 years$2,263$1,332$751$410$219$78
46 years$2,189$1,271$706$379$198$68
47 years$2,118$1,213$663$350$180$60
48 years$2,050$1,158$623$323$164$53
49 years$1,985$1,106$586$299$149$47
50 years$1,923$1,056$550$276$135$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,970,000, adding $3,888 every year, while hoping to spend $54,448 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: 30/48/22 Blend
46$1,970,000$1,970,000$1,970,000$1,970,000
47$2,174,950$2,070,540$2,040,005$2,225,187
48$2,338,863$2,114,065$2,050,413$2,307,467
49$2,517,670$2,157,897$2,059,345$2,390,794
50$2,712,833$2,201,994$2,066,694$2,479,305
51$2,925,961$2,246,311$2,072,347$2,573,484
52$3,158,825$2,290,796$2,076,187$2,673,865
53$3,413,375$2,335,395$2,078,089$2,781,035
54$3,691,759$2,380,049$2,077,924$2,895,646
55$3,996,339$2,424,692$2,075,556$3,018,416
56$4,329,720$2,469,256$2,070,841$3,150,138
57$4,694,766$2,513,665$2,063,629$3,291,687
58$5,094,635$2,557,837$2,053,763$3,444,030
59$5,532,802$2,601,685$2,041,078$3,608,235
60$6,013,095$2,645,115$2,025,402$3,785,482
61$6,539,730$2,688,026$2,006,553$3,977,071
62$7,117,352$2,730,308$1,984,341$4,184,440
63$7,751,073$2,771,844$1,958,568$4,409,176
64$8,446,528$2,812,510$1,929,026$4,653,031
65$9,209,923$2,852,172$1,895,496$4,917,940
66$10,048,091$2,890,685$1,857,752$5,206,039
67$10,968,564$2,927,896$1,815,554$5,519,686
68$11,979,636$2,963,641$1,768,653$5,861,482
69$13,090,443$2,997,743$1,716,788$6,234,303
70$14,311,053$3,030,017$1,659,685$6,641,319
71$15,652,554$3,060,262$1,597,058$7,086,030
72$17,127,165$3,088,265$1,528,609$7,572,302
73$18,748,344$3,113,799$1,454,026$8,104,399
74$20,530,921$3,136,621$1,372,982$8,687,027
75$22,491,234$3,156,474$1,285,136$9,325,381
76$24,647,283$3,173,084$1,190,131$10,025,192
77$27,018,899$3,186,159$1,087,594$10,792,786
78$29,627,935$3,195,389$977,137$11,635,142
79$32,498,466$3,200,445$858,352$12,559,961
80$35,657,018$3,200,975$730,816$13,575,741
81$39,132,819$3,196,608$594,083$14,691,856
82$42,958,073$3,186,948$447,692$15,918,648
83$47,168,265$3,171,578$291,158$17,267,529
84$51,802,494$3,150,050$123,977$18,751,086
85$56,903,840$3,121,895$0$20,383,205
86$62,519,775$3,086,610$0$22,191,980
87$68,702,605$3,043,667$0$24,213,417
88$75,509,966$2,992,503$0$26,437,153
89$83,005,369$2,932,522$0$28,883,885
90$91,258,795$2,863,094$0$31,576,430
91$100,347,357$2,783,550$0$34,539,943
92$110,356,027$2,693,184$0$37,802,159
93$121,378,439$2,591,247$0$41,393,657
94$133,517,769$2,476,947$0$45,348,145
95$146,887,710$2,349,446$0$49,702,787
96$161,613,546$2,207,859$0$54,498,556
97$177,833,331$2,051,247$0$59,780,619
98$195,699,193$1,878,620$0$65,598,768
99$215,378,769$1,688,931$0$72,007,896
100$237,056,786$1,481,072$0$79,068,515