Can I retire at age 47 with 975,000?

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 $975,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$80,515$79,797$79,098$78,415$77,748$76,303
2 years$39,859$39,116$38,397$37,699$37,023$35,572
3 years$26,309$25,563$24,845$24,154$23,489$22,078
4 years$19,535$18,791$18,081$17,402$16,752$15,393
5 years$15,472$14,733$14,032$13,366$12,735$11,430
6 years$12,764$12,030$11,340$10,689$10,077$8,827
7 years$10,830$10,103$9,423$8,788$8,195$7,002
8 years$9,381$8,660$7,992$7,372$6,799$5,662
9 years$8,254$7,540$6,883$6,279$5,725$4,644
10 years$7,353$6,646$6,001$5,413$4,878$3,851
11 years$6,617$5,917$5,283$4,711$4,196$3,221
12 years$6,003$5,311$4,689$4,132$3,636$2,713
13 years$5,485$4,799$4,189$3,648$3,170$2,298
14 years$5,040$4,362$3,764$3,238$2,779$1,956
15 years$4,656$3,985$3,398$2,888$2,447$1,671
16 years$4,320$3,656$3,081$2,586$2,163$1,432
17 years$4,023$3,367$2,804$2,323$1,918$1,230
18 years$3,760$3,112$2,559$2,094$1,705$1,060
19 years$3,525$2,884$2,343$1,892$1,520$914
20 years$3,314$2,680$2,150$1,714$1,357$790
21 years$3,123$2,496$1,978$1,555$1,215$684
22 years$2,949$2,330$1,823$1,414$1,089$593
23 years$2,791$2,179$1,683$1,288$977$514
24 years$2,647$2,042$1,557$1,174$879$446
25 years$2,514$1,916$1,442$1,073$791$388
26 years$2,391$1,801$1,337$981$712$337
27 years$2,278$1,695$1,242$898$642$293
28 years$2,173$1,597$1,154$822$579$255
29 years$2,076$1,507$1,074$754$523$222
30 years$1,985$1,423$1,000$692$473$194
31 years$1,900$1,345$933$636$427$169
32 years$1,820$1,273$870$584$387$147
33 years$1,746$1,205$813$537$350$128
34 years$1,676$1,142$759$494$317$112
35 years$1,610$1,083$710$455$287$98
36 years$1,549$1,028$664$419$260$85
37 years$1,490$977$622$386$236$74
38 years$1,435$928$582$356$214$65
39 years$1,383$883$545$328$194$57
40 years$1,333$840$511$303$176$49
41 years$1,286$799$479$279$159$43
42 years$1,241$761$450$258$145$38
43 years$1,199$725$422$238$131$33
44 years$1,158$691$396$220$119$29
45 years$1,120$659$372$203$108$25
46 years$1,083$629$349$187$98$22
47 years$1,048$600$328$173$89$19
48 years$1,015$573$308$160$81$17
49 years$983$547$290$148$74$15
50 years$952$523$272$137$67$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $975,000, adding $6,868 every year, while hoping to spend $49,068 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: 44/40/16 Blend
46$975,000$975,000$975,000$975,000
47$1,081,534$1,029,859$1,014,747$1,123,847
48$1,139,643$1,028,114$996,533$1,152,420
49$1,202,034$1,024,640$976,064$1,177,944
50$1,269,093$1,019,298$953,213$1,204,558
51$1,341,241$1,011,945$927,847$1,232,384
52$1,418,944$1,002,427$899,827$1,261,559
53$1,502,711$990,580$869,006$1,292,239
54$1,593,102$976,233$835,232$1,324,597
55$1,690,732$959,202$798,345$1,358,828
56$1,796,277$939,293$758,180$1,395,151
57$1,910,479$916,300$714,561$1,433,813
58$2,034,156$890,007$667,307$1,475,087
59$2,168,206$860,184$616,228$1,519,281
60$2,313,616$826,585$561,124$1,566,739
61$2,471,471$788,954$501,788$1,617,845
62$2,642,967$747,019$438,004$1,673,028
63$2,829,416$700,489$369,544$1,732,766
64$3,032,264$649,061$296,171$1,797,594
65$3,253,102$592,412$217,640$1,868,107
66$3,493,679$530,200$133,691$1,944,966
67$3,755,920$462,067$44,056$2,028,912
68$4,041,946$387,630$0$2,120,765
69$4,354,089$306,488$0$2,230,248
70$4,694,915$218,215$0$2,358,167
71$5,067,253$122,364$0$2,498,176
72$5,474,212$18,459$0$2,651,584
73$5,919,220$0$0$2,819,841
74$6,406,047$0$0$3,045,930
75$6,938,848$0$0$3,302,377
76$7,522,194$0$0$3,583,273
77$8,161,123$0$0$3,891,058
78$8,861,181$0$0$4,228,419
79$9,628,474$0$0$4,598,316
80$10,469,730$0$0$5,004,009
81$11,392,357$0$0$5,449,087
82$12,404,515$0$0$5,937,505
83$13,515,194$0$0$6,473,619
84$14,734,292$0$0$7,062,227
85$16,072,715$0$0$7,708,614
86$17,542,477$0$0$8,418,603
87$19,156,810$0$0$9,198,608
88$20,930,292$0$0$10,055,695
89$22,878,984$0$0$10,997,647
90$25,020,577$0$0$12,033,042
91$27,374,562$0$0$13,171,326
92$29,962,414$0$0$14,422,908
93$32,807,789$0$0$15,799,258
94$35,936,752$0$0$17,313,009
95$39,378,021$0$0$18,978,084
96$43,163,234$0$0$20,809,819
97$47,327,252$0$0$22,825,113
98$51,908,482$0$0$25,042,588
99$56,949,244$0$0$27,482,759
100$62,496,166$0$0$30,168,231