Can I retire at age 47 with 890,000?

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 $890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$73,495$72,841$72,202$71,579$70,970$70,523
2 years$36,384$35,706$35,050$34,413$33,795$33,344
3 years$24,015$23,334$22,679$22,049$21,441$21,000
4 years$17,832$17,153$16,505$15,885$15,292$14,864
5 years$14,123$13,448$12,808$12,201$11,625$11,212
6 years$11,651$10,982$10,351$9,757$9,198$8,801
7 years$9,886$9,222$8,602$8,022$7,481$7,098
8 years$8,563$7,905$7,295$6,729$6,206$5,839
9 years$7,534$6,883$6,283$5,732$5,226$4,875
10 years$6,712$6,067$5,478$4,941$4,453$4,117
11 years$6,040$5,401$4,823$4,300$3,830$3,509
12 years$5,480$4,848$4,280$3,772$3,319$3,012
13 years$5,006$4,381$3,824$3,330$2,894$2,602
14 years$4,601$3,982$3,436$2,956$2,537$2,259
15 years$4,250$3,638$3,102$2,636$2,234$1,969
16 years$3,943$3,338$2,812$2,360$1,974$1,723
17 years$3,673$3,074$2,559$2,121$1,750$1,512
18 years$3,432$2,840$2,336$1,911$1,556$1,331
19 years$3,218$2,632$2,139$1,727$1,387$1,174
20 years$3,025$2,446$1,963$1,564$1,239$1,037
21 years$2,851$2,278$1,805$1,420$1,109$918
22 years$2,692$2,127$1,664$1,291$994$814
23 years$2,548$1,989$1,536$1,175$892$722
24 years$2,416$1,864$1,421$1,072$802$642
25 years$2,295$1,749$1,316$979$722$571
26 years$2,183$1,644$1,221$895$650$508
27 years$2,079$1,547$1,133$819$586$453
28 years$1,984$1,458$1,054$751$529$404
29 years$1,895$1,375$980$688$477$361
30 years$1,812$1,299$913$632$431$322
31 years$1,734$1,228$851$580$390$287
32 years$1,662$1,162$794$533$353$257
33 years$1,594$1,100$742$490$319$230
34 years$1,530$1,043$693$451$289$205
35 years$1,470$989$648$415$262$184
36 years$1,414$939$606$383$237$164
37 years$1,360$892$567$352$215$147
38 years$1,310$847$531$325$195$132
39 years$1,262$806$498$300$177$118
40 years$1,217$767$467$276$160$106
41 years$1,174$730$437$255$145$95
42 years$1,133$695$410$235$132$85
43 years$1,094$662$385$217$120$76
44 years$1,057$631$361$201$109$68
45 years$1,022$602$339$185$99$61
46 years$989$574$319$171$90$55
47 years$957$548$299$158$81$49
48 years$926$523$281$146$74$44
49 years$897$499$265$135$67$39
50 years$869$477$249$125$61$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $890,000, adding $6,256 every year, while hoping to spend $48,638 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: 62/23/15 Blend
46$890,000$890,000$890,000$890,000
47$987,233$940,063$926,268$1,044,408
48$1,036,180$934,376$905,548$1,077,895
49$1,088,490$926,780$882,503$1,108,360
50$1,144,454$917,130$857,005$1,140,449
51$1,204,392$905,272$828,918$1,174,324
52$1,268,654$891,045$798,101$1,210,163
53$1,337,626$874,275$764,406$1,248,164
54$1,411,729$854,780$727,679$1,288,549
55$1,491,427$832,366$687,758$1,331,561
56$1,577,229$806,829$644,474$1,377,474
57$1,669,694$777,950$597,652$1,426,590
58$1,769,435$745,502$547,105$1,479,243
59$1,877,126$709,241$492,642$1,535,808
60$1,993,510$668,910$434,062$1,596,696
61$2,119,399$624,238$371,155$1,662,366
62$2,255,689$574,937$303,700$1,733,327
63$2,403,365$520,705$231,469$1,810,143
64$2,563,508$461,219$154,223$1,893,438
65$2,737,307$396,140$71,711$1,983,905
66$2,926,073$325,111$0$2,082,312
67$3,131,243$247,753$0$2,192,124
68$3,354,403$163,665$0$2,324,085
69$3,597,293$72,426$0$2,467,796
70$3,861,832$0$0$2,624,457
71$4,150,128$0$0$2,802,080
72$4,464,504$0$0$3,015,821
73$4,807,515$0$0$3,249,093
74$5,181,973$0$0$3,503,816
75$5,590,975$0$0$3,782,106
76$6,037,929$0$0$4,086,290
77$6,526,588$0$0$4,418,931
78$7,061,083$0$0$4,782,850
79$7,645,962$0$0$5,181,154
80$8,286,236$0$0$5,617,264
81$8,987,421$0$0$6,094,948
82$9,755,589$0$0$6,618,354
83$10,597,431$0$0$7,192,053
84$11,520,315$0$0$7,821,075
85$12,532,354$0$0$8,510,963
86$13,642,485$0$0$9,267,823
87$14,860,553$0$0$10,098,377
88$16,197,399$0$0$11,010,033
89$17,664,968$0$0$12,010,949
90$19,276,414$0$0$13,110,112
91$21,046,231$0$0$14,317,422
92$22,990,383$0$0$15,643,786
93$25,126,459$0$0$17,101,217
94$27,473,832$0$0$18,702,951
95$30,053,848$0$0$20,463,571
96$32,890,023$0$0$22,399,141
97$36,008,264$0$0$24,527,360
98$39,437,115$0$0$26,867,728
99$43,208,023$0$0$29,441,728
100$47,355,636$0$0$32,273,032