Can I retire at age 47 with 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 $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%19.5%
1 years$78,450$77,751$77,070$76,404$75,754$72,864
2 years$38,837$38,113$37,412$36,733$36,073$33,195
3 years$25,634$24,908$24,208$23,535$22,887$20,111
4 years$19,034$18,310$17,617$16,956$16,323$13,672
5 years$15,075$14,355$13,672$13,024$12,408$9,888
6 years$12,436$11,722$11,049$10,415$9,818$7,431
7 years$10,552$9,844$9,182$8,563$7,985$5,729
8 years$9,140$8,438$7,787$7,183$6,624$4,498
9 years$8,042$7,347$6,707$6,118$5,579$3,579
10 years$7,165$6,476$5,847$5,274$4,753$2,877
11 years$6,447$5,765$5,148$4,590$4,088$2,331
12 years$5,849$5,175$4,568$4,026$3,543$1,899
13 years$5,344$4,676$4,082$3,554$3,089$1,556
14 years$4,911$4,251$3,667$3,155$2,708$1,279
15 years$4,536$3,883$3,311$2,814$2,384$1,055
16 years$4,209$3,563$3,002$2,520$2,107$872
17 years$3,920$3,281$2,732$2,264$1,868$722
18 years$3,664$3,032$2,494$2,040$1,661$600
19 years$3,435$2,810$2,283$1,843$1,481$498
20 years$3,229$2,611$2,095$1,670$1,323$415
21 years$3,043$2,432$1,927$1,515$1,184$345
22 years$2,874$2,270$1,776$1,378$1,061$288
23 years$2,720$2,123$1,640$1,255$952$240
24 years$2,579$1,989$1,517$1,144$856$200
25 years$2,449$1,867$1,405$1,045$770$167
26 years$2,330$1,755$1,303$956$694$140
27 years$2,220$1,651$1,210$875$626$117
28 years$2,117$1,556$1,125$801$564$98
29 years$2,022$1,468$1,047$735$510$82
30 years$1,934$1,386$975$674$461$68
31 years$1,851$1,311$909$619$416$57
32 years$1,774$1,240$848$569$377$48
33 years$1,701$1,174$792$523$341$40
34 years$1,633$1,113$740$482$309$33
35 years$1,569$1,056$692$443$280$28
36 years$1,509$1,002$647$408$253$23
37 years$1,452$952$606$376$230$20
38 years$1,398$904$567$347$208$16
39 years$1,347$860$531$320$189$14
40 years$1,299$818$498$295$171$11
41 years$1,253$779$467$272$155$10
42 years$1,209$742$438$251$141$8
43 years$1,168$707$411$232$128$7
44 years$1,129$674$386$214$116$6
45 years$1,091$642$362$198$105$5
46 years$1,055$613$340$183$96$4
47 years$1,021$585$320$169$87$3
48 years$989$558$300$156$79$3
49 years$957$533$282$144$72$2
50 years$928$509$265$133$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $950,000, adding $6,051 every year, while hoping to spend $43,605 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: 50/24/26 Blend
46$950,000$950,000$950,000$950,000
47$1,053,142$1,002,792$988,067$1,097,801
48$1,114,167$1,005,533$974,771$1,132,306
49$1,179,955$1,006,947$959,569$1,164,930
50$1,250,946$1,006,923$942,351$1,199,521
51$1,327,623$1,005,343$923,000$1,236,284
52$1,410,517$1,002,082$901,397$1,275,448
53$1,500,212$997,006$877,416$1,317,266
54$1,597,350$989,975$850,926$1,362,022
55$1,702,635$980,839$821,787$1,410,030
56$1,816,843$969,440$789,856$1,461,639
57$1,940,827$955,609$754,983$1,517,235
58$2,075,526$939,168$717,009$1,577,249
59$2,221,972$919,929$675,771$1,642,158
60$2,381,299$897,692$631,095$1,712,491
61$2,554,757$872,244$582,802$1,788,834
62$2,743,720$843,362$530,705$1,871,839
63$2,949,702$810,809$474,606$1,962,226
64$3,174,367$774,334$414,300$2,060,795
65$3,419,547$733,671$349,574$2,168,431
66$3,687,259$688,540$280,203$2,286,115
67$3,979,724$638,643$205,955$2,414,932
68$4,299,386$583,667$126,584$2,556,086
69$4,648,936$523,279$41,837$2,710,907
70$5,031,337$457,129$0$2,880,868
71$5,449,852$384,846$0$3,081,082
72$5,908,072$306,039$0$3,313,133
73$6,409,955$220,294$0$3,567,476
74$6,959,856$127,175$0$3,846,402
75$7,562,574$26,219$0$4,152,437
76$8,223,393$0$0$4,488,370
77$8,948,132$0$0$4,879,214
78$9,743,202$0$0$5,315,685
79$10,615,664$0$0$5,794,747
80$11,573,295$0$0$6,320,686
81$12,624,661$0$0$6,898,218
82$13,779,200$0$0$7,532,543
83$15,047,306$0$0$8,229,386
84$16,440,433$0$0$8,995,055
85$17,971,194$0$0$9,836,501
86$19,653,489$0$0$10,761,378
87$21,502,629$0$0$11,778,122
88$23,535,483$0$0$12,896,025
89$25,770,634$0$0$14,125,324
90$28,228,559$0$0$15,477,301
91$30,931,815$0$0$16,964,381
92$33,905,258$0$0$18,600,258
93$37,176,272$0$0$20,400,018
94$40,775,029$0$0$22,380,284
95$44,734,772$0$0$24,559,369
96$49,092,131$0$0$26,957,455
97$53,887,464$0$0$29,596,776
98$59,165,241$0$0$32,501,832
99$64,974,461$0$0$35,699,618
100$71,369,114$0$0$39,219,881