Can I retire at age 47 with 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 $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%13.9%
1 years$80,102$79,388$78,692$78,013$77,349$76,099
2 years$39,654$38,916$38,200$37,506$36,833$35,577
3 years$26,174$25,432$24,718$24,030$23,368$22,146
4 years$19,435$18,695$17,988$17,313$16,666$15,486
5 years$15,392$14,657$13,960$13,298$12,670$11,535
6 years$12,698$11,969$11,282$10,634$10,025$8,938
7 years$10,775$10,051$9,375$8,743$8,153$7,114
8 years$9,333$8,616$7,951$7,334$6,764$5,772
9 years$8,212$7,502$6,848$6,247$5,696$4,751
10 years$7,315$6,612$5,970$5,385$4,853$3,955
11 years$6,583$5,887$5,256$4,687$4,174$3,320
12 years$5,972$5,283$4,665$4,111$3,617$2,808
13 years$5,456$4,775$4,168$3,629$3,154$2,388
14 years$5,015$4,340$3,745$3,222$2,765$2,040
15 years$4,632$3,965$3,381$2,873$2,434$1,750
16 years$4,297$3,638$3,065$2,573$2,152$1,506
17 years$4,003$3,350$2,789$2,311$1,908$1,300
18 years$3,741$3,096$2,546$2,083$1,696$1,124
19 years$3,507$2,869$2,331$1,882$1,512$974
20 years$3,297$2,666$2,139$1,705$1,350$846
21 years$3,107$2,483$1,968$1,547$1,209$736
22 years$2,934$2,318$1,814$1,407$1,083$640
23 years$2,777$2,168$1,674$1,281$972$558
24 years$2,633$2,031$1,549$1,168$874$487
25 years$2,501$1,906$1,434$1,067$786$425
26 years$2,379$1,792$1,330$976$708$371
27 years$2,266$1,686$1,235$893$639$325
28 years$2,162$1,589$1,148$818$576$284
29 years$2,065$1,499$1,069$750$520$248
30 years$1,975$1,415$995$689$470$218
31 years$1,890$1,338$928$632$425$191
32 years$1,811$1,266$866$581$385$167
33 years$1,737$1,199$808$535$348$146
34 years$1,668$1,136$755$492$315$128
35 years$1,602$1,078$706$453$285$112
36 years$1,541$1,023$661$417$259$99
37 years$1,482$972$618$384$234$86
38 years$1,427$923$579$354$212$76
39 years$1,375$878$542$326$193$66
40 years$1,326$835$508$301$175$58
41 years$1,279$795$477$278$159$51
42 years$1,235$757$447$256$144$45
43 years$1,193$722$420$237$131$39
44 years$1,152$688$394$219$119$35
45 years$1,114$656$370$202$108$30
46 years$1,078$626$347$186$98$27
47 years$1,043$597$326$172$89$23
48 years$1,009$570$307$159$81$21
49 years$978$544$288$147$73$18
50 years$947$520$271$136$66$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $970,000, adding $5,739 every year, while hoping to spend $49,377 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: 78/8/14 Blend
46$970,000$970,000$970,000$970,000
47$1,074,860$1,023,450$1,008,415$1,155,180
48$1,131,959$1,021,062$989,660$1,206,500
49$1,193,227$1,016,902$968,622$1,255,917
50$1,259,037$1,010,832$945,172$1,308,733
51$1,329,800$1,002,703$919,176$1,365,269
52$1,405,963$992,360$890,492$1,425,878
53$1,488,022$979,636$858,975$1,490,950
54$1,576,519$964,357$824,469$1,560,913
55$1,672,049$946,335$786,813$1,636,242
56$1,775,266$925,374$745,840$1,717,458
57$1,886,891$901,265$701,373$1,805,136
58$2,007,714$873,787$653,229$1,899,911
59$2,138,604$842,706$601,216$2,002,484
60$2,280,518$807,774$545,132$2,113,626
61$2,434,505$768,730$484,769$2,234,189
62$2,601,722$725,296$419,906$2,365,110
63$2,783,441$677,178$350,316$2,507,427
64$2,981,060$624,068$275,760$2,662,280
65$3,196,118$565,637$195,988$2,830,929
66$3,430,308$501,539$110,739$3,014,763
67$3,685,493$431,408$19,743$3,215,313
68$3,963,724$354,858$0$3,434,269
69$4,267,257$271,479$0$3,685,051
70$4,598,577$180,841$0$3,962,054
71$4,960,416$82,487$0$4,264,638
72$5,355,787$0$0$4,595,350
73$5,788,001$0$0$4,959,113
74$6,260,708$0$0$5,364,929
75$6,777,924$0$0$5,808,986
76$7,344,073$0$0$6,295,089
77$7,964,026$0$0$6,827,421
78$8,643,145$0$0$7,410,594
79$9,387,339$0$0$8,049,683
80$10,203,112$0$0$8,750,282
81$11,097,629$0$0$9,518,546
82$12,078,782$0$0$10,361,259
83$13,155,262$0$0$11,285,891
84$14,336,643$0$0$12,300,670
85$15,633,470$0$0$13,414,661
86$17,057,360$0$0$14,637,848
87$18,621,109$0$0$15,981,229
88$20,338,814$0$0$17,456,920
89$22,226,002$0$0$19,078,268
90$24,299,781$0$0$20,859,977
91$26,578,998$0$0$22,818,245
92$29,084,415$0$0$24,970,920
93$31,838,907$0$0$27,337,661
94$34,867,675$0$0$29,940,130
95$38,198,485$0$0$32,802,194
96$41,861,929$0$0$35,950,145
97$45,891,711$0$0$39,412,954
98$50,324,966$0$0$43,222,541
99$55,202,611$0$0$47,414,073
100$60,569,727$0$0$52,026,301