Can I retire at age 47 with 1,980,000?

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$163,507$162,050$160,629$159,242$157,888$155,208
2 years$80,944$79,436$77,975$76,559$75,185$72,493
3 years$53,427$51,913$50,455$49,052$47,700$45,081
4 years$39,671$38,161$36,718$35,339$34,020$31,493
5 years$31,419$29,919$28,495$27,144$25,862$23,434
6 years$25,920$24,431$23,028$21,707$20,463$18,138
7 years$21,994$20,517$19,137$17,847$16,642$14,420
8 years$19,050$17,587$16,229$14,971$13,806$11,686
9 years$16,762$15,313$13,978$12,752$11,627$9,608
10 years$14,932$13,497$12,187$10,992$9,907$7,987
11 years$13,437$12,016$10,729$9,567$8,520$6,698
12 years$12,191$10,785$9,522$8,391$7,383$5,657
13 years$11,138$9,746$8,507$7,408$6,438$4,804
14 years$10,236$8,859$7,644$6,576$5,644$4,099
15 years$9,455$8,093$6,901$5,865$4,969$3,511
16 years$8,772$7,425$6,257$5,251$4,392$3,018
17 years$8,170$6,838$5,693$4,718$3,894$2,600
18 years$7,636$6,319$5,197$4,252$3,463$2,246
19 years$7,159$5,856$4,758$3,842$3,086$1,944
20 years$6,729$5,442$4,367$3,480$2,757$1,685
21 years$6,342$5,069$4,016$3,158$2,467$1,463
22 years$5,989$4,732$3,702$2,871$2,211$1,272
23 years$5,668$4,425$3,418$2,615$1,985$1,107
24 years$5,375$4,146$3,161$2,385$1,784$964
25 years$5,105$3,891$2,928$2,178$1,605$840
26 years$4,856$3,657$2,715$1,992$1,446$733
27 years$4,626$3,442$2,521$1,823$1,304$640
28 years$4,413$3,243$2,344$1,670$1,176$559
29 years$4,215$3,059$2,181$1,532$1,062$488
30 years$4,030$2,889$2,032$1,406$960$427
31 years$3,858$2,731$1,894$1,291$868$373
32 years$3,697$2,584$1,767$1,186$785$326
33 years$3,546$2,448$1,650$1,091$710$285
34 years$3,404$2,320$1,542$1,004$643$250
35 years$3,270$2,200$1,441$924$583$219
36 years$3,145$2,088$1,348$851$528$191
37 years$3,026$1,983$1,262$784$478$167
38 years$2,914$1,885$1,182$723$434$147
39 years$2,808$1,792$1,107$666$393$128
40 years$2,707$1,705$1,038$615$357$112
41 years$2,612$1,623$973$567$324$98
42 years$2,521$1,546$913$523$294$86
43 years$2,435$1,473$857$483$267$76
44 years$2,353$1,404$804$446$242$66
45 years$2,274$1,339$755$412$220$58
46 years$2,200$1,277$709$381$199$51
47 years$2,129$1,219$666$352$181$45
48 years$2,060$1,164$626$325$164$39
49 years$1,995$1,111$588$300$149$34
50 years$1,933$1,061$553$278$136$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,980,000, adding $6,046 every year, while hoping to spend $35,851 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: 40/40/20 Blend
46$1,980,000$1,980,000$1,980,000$1,980,000
47$2,188,196$2,083,256$2,052,566$2,262,538
48$2,373,247$2,147,191$2,083,182$2,380,242
49$2,575,972$2,213,056$2,113,622$2,503,613
50$2,798,135$2,280,910$2,143,842$2,636,343
51$3,041,680$2,350,810$2,173,796$2,779,305
52$3,308,748$2,422,816$2,203,435$2,933,457
53$3,601,696$2,496,991$2,232,707$3,099,854
54$3,923,123$2,573,396$2,261,555$3,279,656
55$4,275,887$2,652,099$2,289,923$3,474,139
56$4,663,140$2,733,164$2,317,749$3,684,707
57$5,088,354$2,816,663$2,344,966$3,912,906
58$5,555,350$2,902,664$2,371,507$4,160,437
59$6,068,342$2,991,240$2,397,299$4,429,172
60$6,631,969$3,082,467$2,422,265$4,721,171
61$7,251,343$3,176,421$2,446,323$5,038,703
62$7,932,094$3,273,180$2,469,389$5,384,267
63$8,680,427$3,372,825$2,491,373$5,760,612
64$9,503,177$3,475,439$2,512,181$6,170,767
65$10,407,874$3,581,109$2,531,711$6,618,065
66$11,402,814$3,689,920$2,549,860$7,106,180
67$12,497,138$3,801,963$2,566,518$7,639,155
68$13,700,917$3,917,330$2,581,567$8,221,445
69$15,025,247$4,036,116$2,594,886$8,857,955
70$16,482,354$4,158,417$2,606,347$9,554,089
71$18,085,709$4,284,335$2,615,814$10,315,799
72$19,850,154$4,413,970$2,623,146$11,149,642
73$21,792,043$4,547,427$2,628,195$12,062,839
74$23,929,395$4,684,816$2,630,804$13,063,346
75$26,282,066$4,826,245$2,630,809$14,159,929
76$28,871,934$4,971,827$2,628,038$15,362,242
77$31,723,105$5,121,681$2,622,311$16,680,925
78$34,862,142$5,275,923$2,613,438$18,127,697
79$38,318,313$5,434,676$2,601,221$19,715,470
80$42,123,872$5,598,066$2,585,453$21,458,470
81$46,314,356$5,766,220$2,565,914$23,372,371
82$50,928,925$5,939,270$2,542,378$25,474,445
83$56,010,732$6,117,350$2,514,604$27,783,718
84$61,607,325$6,300,599$2,482,341$30,321,157
85$67,771,100$6,489,157$2,445,328$33,109,864
86$74,559,796$6,683,169$2,403,290$36,175,293
87$82,037,033$6,882,782$2,355,938$39,545,492
88$90,272,922$7,088,150$2,302,973$43,251,366
89$99,344,716$7,299,425$2,244,079$47,326,969
90$109,337,548$7,516,768$2,178,927$51,809,827
91$120,345,228$7,740,340$2,107,171$56,741,289
92$132,471,133$7,970,308$2,028,453$62,166,916
93$145,829,176$8,206,841$1,942,394$68,136,918
94$160,544,888$8,450,112$1,848,600$74,706,619
95$176,756,599$8,700,300$1,746,661$81,936,985
96$194,616,743$8,957,585$1,636,144$89,895,196
97$214,293,296$9,222,153$1,516,601$98,655,281
98$235,971,366$9,494,192$1,387,561$108,298,818
99$259,854,934$9,773,896$1,248,532$118,915,701
100$286,168,783$10,061,462$1,099,003$130,604,993