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%15.7%
1 years$80,515$79,797$79,098$78,415$77,748$75,930
2 years$39,859$39,116$38,397$37,699$37,023$35,202
3 years$26,309$25,563$24,845$24,154$23,489$21,721
4 years$19,535$18,791$18,081$17,402$16,752$15,052
5 years$15,472$14,733$14,032$13,366$12,735$11,107
6 years$12,764$12,030$11,340$10,689$10,077$8,522
7 years$10,830$10,103$9,423$8,788$8,195$6,714
8 years$9,381$8,660$7,992$7,372$6,799$5,391
9 years$8,254$7,540$6,883$6,279$5,725$4,390
10 years$7,353$6,646$6,001$5,413$4,878$3,614
11 years$6,617$5,917$5,283$4,711$4,196$3,000
12 years$6,003$5,311$4,689$4,132$3,636$2,507
13 years$5,485$4,799$4,189$3,648$3,170$2,107
14 years$5,040$4,362$3,764$3,238$2,779$1,778
15 years$4,656$3,985$3,398$2,888$2,447$1,507
16 years$4,320$3,656$3,081$2,586$2,163$1,280
17 years$4,023$3,367$2,804$2,323$1,918$1,091
18 years$3,760$3,112$2,559$2,094$1,705$931
19 years$3,525$2,884$2,343$1,892$1,520$796
20 years$3,314$2,680$2,150$1,714$1,357$682
21 years$3,123$2,496$1,978$1,555$1,215$585
22 years$2,949$2,330$1,823$1,414$1,089$502
23 years$2,791$2,179$1,683$1,288$977$432
24 years$2,647$2,042$1,557$1,174$879$371
25 years$2,514$1,916$1,442$1,073$791$319
26 years$2,391$1,801$1,337$981$712$275
27 years$2,278$1,695$1,242$898$642$237
28 years$2,173$1,597$1,154$822$579$204
29 years$2,076$1,507$1,074$754$523$176
30 years$1,985$1,423$1,000$692$473$152
31 years$1,900$1,345$933$636$427$131
32 years$1,820$1,273$870$584$387$113
33 years$1,746$1,205$813$537$350$98
34 years$1,676$1,142$759$494$317$84
35 years$1,610$1,083$710$455$287$73
36 years$1,549$1,028$664$419$260$63
37 years$1,490$977$622$386$236$54
38 years$1,435$928$582$356$214$47
39 years$1,383$883$545$328$194$41
40 years$1,333$840$511$303$176$35
41 years$1,286$799$479$279$159$30
42 years$1,241$761$450$258$145$26
43 years$1,199$725$422$238$131$23
44 years$1,158$691$396$220$119$20
45 years$1,120$659$372$203$108$17
46 years$1,083$629$349$187$98$15
47 years$1,048$600$328$173$89$13
48 years$1,015$573$308$160$81$11
49 years$983$547$290$148$74$9
50 years$952$523$272$137$67$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $975,000, adding $4,627 every year, while hoping to spend $51,567 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: 48/23/29 Blend
46$975,000$975,000$975,000$975,000
47$1,079,223$1,027,548$1,012,435$1,121,890
48$1,134,437$1,023,031$991,485$1,147,899
49$1,193,554$1,016,564$968,104$1,170,723
50$1,256,918$1,007,998$942,158$1,194,521
51$1,324,907$997,173$913,503$1,219,413
52$1,397,934$983,921$881,992$1,245,533
53$1,476,453$968,062$847,469$1,273,030
54$1,560,963$949,409$809,770$1,302,074
55$1,652,011$927,760$768,727$1,332,856
56$1,750,198$902,902$724,162$1,365,589
57$1,856,186$874,612$675,889$1,400,513
58$1,970,700$842,650$623,714$1,437,897
59$2,094,537$806,766$567,434$1,478,041
60$2,228,574$766,693$506,838$1,521,282
61$2,373,776$722,148$441,704$1,567,994
62$2,531,202$672,834$371,802$1,618,598
63$2,702,018$618,435$296,890$1,673,562
64$2,887,504$558,619$216,717$1,733,409
65$3,089,071$493,034$131,019$1,798,720
66$3,308,270$421,306$39,522$1,870,143
67$3,546,807$343,043$0$1,948,401
68$3,806,559$257,830$0$2,052,283
69$4,089,592$165,228$0$2,178,915
70$4,398,180$64,773$0$2,317,147
71$4,734,824$0$0$2,468,184
72$5,102,279$0$0$2,644,497
73$5,503,575$0$0$2,855,054
74$5,942,052$0$0$3,085,222
75$6,421,382$0$0$3,336,946
76$6,945,611$0$0$3,612,361
77$7,519,192$0$0$3,913,822
78$8,147,031$0$0$4,243,923
79$8,834,526$0$0$4,605,516
80$9,587,626$0$0$5,001,746
81$10,412,879$0$0$5,436,076
82$11,317,499$0$0$5,912,318
83$12,309,429$0$0$6,434,673
84$13,397,418$0$0$7,007,765
85$14,591,104$0$0$7,636,690
86$15,901,100$0$0$8,327,062
87$17,339,100$0$0$9,085,061
88$18,917,983$0$0$9,917,498
89$20,651,936$0$0$10,831,875
90$22,556,589$0$0$11,836,456
91$24,649,158$0$0$12,940,347
92$26,948,610$0$0$14,153,576
93$29,475,842$0$0$15,487,194
94$32,253,873$0$0$16,953,374
95$35,308,066$0$0$18,565,529
96$38,666,361$0$0$20,338,436
97$42,359,545$0$0$22,288,375
98$46,421,533$0$0$24,433,283
99$50,889,695$0$0$26,792,924
100$55,805,205$0$0$29,389,072