Can I retire at age 47 with 980,000?

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 $980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$80,927$80,207$79,503$78,817$78,147$75,554
2 years$40,063$39,317$38,594$37,893$37,213$34,626
3 years$26,443$25,694$24,973$24,278$23,609$21,110
4 years$19,635$18,888$18,174$17,491$16,838$14,445
5 years$15,551$14,808$14,104$13,435$12,800$10,519
6 years$12,829$12,092$11,398$10,744$10,128$7,962
7 years$10,886$10,155$9,472$8,833$8,237$6,184
8 years$9,429$8,705$8,033$7,410$6,833$4,893
9 years$8,296$7,579$6,919$6,312$5,755$3,925
10 years$7,391$6,680$6,032$5,441$4,903$3,181
11 years$6,650$5,947$5,310$4,735$4,217$2,598
12 years$6,034$5,338$4,713$4,153$3,654$2,136
13 years$5,513$4,824$4,211$3,667$3,187$1,765
14 years$5,066$4,385$3,783$3,255$2,793$1,464
15 years$4,680$4,006$3,416$2,903$2,460$1,219
16 years$4,342$3,675$3,097$2,599$2,174$1,017
17 years$4,044$3,385$2,818$2,335$1,927$851
18 years$3,779$3,128$2,572$2,105$1,714$713
19 years$3,543$2,899$2,355$1,902$1,528$599
20 years$3,331$2,693$2,161$1,722$1,364$503
21 years$3,139$2,509$1,988$1,563$1,221$423
22 years$2,964$2,342$1,832$1,421$1,094$356
23 years$2,806$2,190$1,692$1,294$982$300
24 years$2,660$2,052$1,565$1,181$883$253
25 years$2,527$1,926$1,449$1,078$795$214
26 years$2,403$1,810$1,344$986$716$180
27 years$2,290$1,703$1,248$902$645$152
28 years$2,184$1,605$1,160$827$582$129
29 years$2,086$1,514$1,080$758$526$109
30 years$1,995$1,430$1,006$696$475$92
31 years$1,910$1,352$938$639$430$78
32 years$1,830$1,279$875$587$389$66
33 years$1,755$1,211$817$540$352$55
34 years$1,685$1,148$763$497$318$47
35 years$1,619$1,089$713$457$288$40
36 years$1,556$1,034$667$421$261$34
37 years$1,498$982$625$388$237$28
38 years$1,442$933$585$358$215$24
39 years$1,390$887$548$330$195$20
40 years$1,340$844$514$304$177$17
41 years$1,293$803$482$281$160$15
42 years$1,248$765$452$259$145$12
43 years$1,205$729$424$239$132$10
44 years$1,164$695$398$221$120$9
45 years$1,126$663$374$204$109$7
46 years$1,089$632$351$188$99$6
47 years$1,054$603$330$174$90$5
48 years$1,020$576$310$161$81$4
49 years$988$550$291$149$74$4
50 years$957$525$274$137$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $980,000, adding $2,001 every year, while hoping to spend $42,752 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: 77/15/8 Blend
46$980,000$980,000$980,000$980,000
47$1,082,024$1,030,084$1,014,894$1,163,953
48$1,146,903$1,035,070$1,003,405$1,223,052
49$1,216,966$1,038,868$990,099$1,282,127
50$1,292,698$1,041,374$974,868$1,345,655
51$1,374,630$1,042,478$957,603$1,414,059
52$1,463,346$1,042,064$938,187$1,487,807
53$1,559,490$1,040,007$916,498$1,567,415
54$1,663,767$1,036,176$892,410$1,653,452
55$1,776,954$1,030,432$865,789$1,746,544
56$1,899,906$1,022,626$836,495$1,847,381
57$2,033,562$1,012,600$804,384$1,956,724
58$2,178,958$1,000,190$769,303$2,075,413
59$2,337,230$985,217$731,093$2,204,371
60$2,509,630$967,496$689,587$2,344,617
61$2,697,536$946,827$644,612$2,497,277
62$2,902,464$923,001$595,986$2,663,587
63$3,126,083$895,796$543,519$2,844,913
64$3,370,229$864,976$487,013$3,042,762
65$3,636,925$830,292$426,260$3,258,792
66$3,928,396$791,481$361,045$3,494,833
67$4,247,093$748,264$291,141$3,752,902
68$4,595,715$700,347$216,311$4,035,223
69$4,977,231$647,417$136,311$4,344,248
70$5,394,914$589,145$50,883$4,682,680
71$5,852,365$525,184$0$5,053,498
72$6,353,552$455,164$0$5,463,427
73$6,902,845$378,697$0$5,917,509
74$7,505,053$295,372$0$6,415,415
75$8,165,478$204,754$0$6,961,572
76$8,889,956$106,386$0$7,560,861
77$9,684,916$0$0$8,218,663
78$10,557,439$0$0$8,940,940
79$11,515,327$0$0$9,753,196
80$12,567,172$0$0$10,645,161
81$13,722,439$0$0$11,624,866
82$14,991,556$0$0$12,701,159
83$16,386,010$0$0$13,883,786
84$17,918,456$0$0$15,183,485
85$19,602,835$0$0$16,612,085
86$21,454,507$0$0$18,182,619
87$23,490,393$0$0$19,909,444
88$25,729,136$0$0$21,808,380
89$28,191,277$0$0$23,896,855
90$30,899,446$0$0$26,194,071
91$33,878,578$0$0$28,721,184
92$37,156,143$0$0$31,501,506
93$40,762,411$0$0$34,560,720
94$44,730,734$0$0$37,927,124
95$49,097,858$0$0$41,631,899
96$53,904,273$0$0$45,709,402
97$59,194,593$0$0$50,197,489
98$65,017,976$0$0$55,137,871
99$71,428,589$0$0$60,576,509
100$78,486,116$0$0$66,564,048