Can I retire at age 47 with 990,000?

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 $990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$81,753$81,025$80,315$79,621$78,944$76,911
2 years$40,472$39,718$38,988$38,279$37,592$35,557
3 years$26,713$25,956$25,228$24,526$23,850$21,877
4 years$19,835$19,081$18,359$17,670$17,010$15,114
5 years$15,710$14,959$14,248$13,572$12,931$11,117
6 years$12,960$12,215$11,514$10,854$10,232$8,502
7 years$10,997$10,259$9,568$8,923$8,321$6,676
8 years$9,525$8,793$8,115$7,486$6,903$5,342
9 years$8,381$7,656$6,989$6,376$5,813$4,334
10 years$7,466$6,749$6,093$5,496$4,953$3,555
11 years$6,718$6,008$5,364$4,783$4,260$2,940
12 years$6,095$5,392$4,761$4,196$3,692$2,447
13 years$5,569$4,873$4,253$3,704$3,219$2,048
14 years$5,118$4,430$3,822$3,288$2,822$1,722
15 years$4,727$4,046$3,451$2,932$2,485$1,452
16 years$4,386$3,713$3,128$2,626$2,196$1,229
17 years$4,085$3,419$2,847$2,359$1,947$1,042
18 years$3,818$3,159$2,599$2,126$1,731$886
19 years$3,579$2,928$2,379$1,921$1,543$754
20 years$3,365$2,721$2,183$1,740$1,378$643
21 years$3,171$2,534$2,008$1,579$1,233$549
22 years$2,995$2,366$1,851$1,436$1,106$469
23 years$2,834$2,213$1,709$1,308$992$401
24 years$2,687$2,073$1,581$1,193$892$344
25 years$2,552$1,946$1,464$1,089$803$294
26 years$2,428$1,829$1,358$996$723$252
27 years$2,313$1,721$1,261$912$652$216
28 years$2,206$1,622$1,172$835$588$185
29 years$2,107$1,530$1,091$766$531$159
30 years$2,015$1,445$1,016$703$480$137
31 years$1,929$1,366$947$646$434$117
32 years$1,848$1,292$884$593$392$101
33 years$1,773$1,224$825$546$355$87
34 years$1,702$1,160$771$502$322$74
35 years$1,635$1,100$721$462$291$64
36 years$1,572$1,044$674$426$264$55
37 years$1,513$992$631$392$239$47
38 years$1,457$942$591$361$217$41
39 years$1,404$896$554$333$197$35
40 years$1,353$853$519$307$178$30
41 years$1,306$812$487$284$162$26
42 years$1,260$773$456$262$147$22
43 years$1,217$737$428$242$133$19
44 years$1,176$702$402$223$121$16
45 years$1,137$669$378$206$110$14
46 years$1,100$639$355$190$100$12
47 years$1,064$609$333$176$91$10
48 years$1,030$582$313$162$82$9
49 years$998$556$294$150$75$8
50 years$967$531$277$139$68$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $990,000, adding $2,750 every year, while hoping to spend $33,620 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: 52/22/26 Blend
46$990,000$990,000$990,000$990,000
47$1,093,817$1,041,347$1,026,002$1,142,614
48$1,169,615$1,056,601$1,024,601$1,191,993
49$1,252,017$1,071,476$1,022,027$1,242,036
50$1,341,662$1,085,918$1,018,205$1,295,797
51$1,439,252$1,099,869$1,013,055$1,353,642
52$1,545,560$1,113,266$1,006,496$1,415,980
53$1,661,435$1,126,045$998,442$1,483,259
54$1,787,814$1,138,133$988,802$1,555,974
55$1,925,726$1,149,457$977,483$1,634,673
56$2,076,306$1,159,936$964,383$1,719,961
57$2,240,800$1,169,484$949,401$1,812,505
58$2,420,583$1,178,010$932,428$1,913,043
59$2,617,168$1,185,417$913,349$2,022,388
60$2,832,219$1,191,603$892,046$2,141,439
61$3,067,570$1,196,456$868,395$2,271,188
62$3,325,241$1,199,862$842,265$2,412,731
63$3,607,455$1,201,694$813,520$2,567,276
64$3,916,661$1,201,822$782,019$2,736,158
65$4,255,555$1,200,106$747,610$2,920,850
66$4,627,106$1,196,397$710,141$3,122,978
67$5,034,587$1,190,536$669,446$3,344,336
68$5,481,600$1,182,357$625,358$3,586,905
69$5,972,113$1,171,682$577,697$3,852,870
70$6,510,497$1,158,323$526,278$4,144,642
71$7,101,567$1,142,080$470,907$4,464,883
72$7,750,626$1,122,741$411,382$4,816,529
73$8,463,517$1,100,083$347,491$5,202,819
74$9,246,677$1,073,868$279,013$5,627,328
75$10,107,195$1,043,845$205,717$6,093,998
76$11,052,883$1,009,747$127,362$6,607,180
77$12,092,345$971,293$43,698$7,171,672
78$13,235,063$928,185$0$7,792,769
79$14,491,482$880,108$0$8,488,956
80$15,873,107$826,728$0$9,267,785
81$17,392,619$767,692$0$10,124,306
82$19,063,985$702,628$0$11,066,435
83$20,902,596$631,142$0$12,102,900
84$22,925,409$552,816$0$13,243,322
85$25,151,108$467,211$0$14,498,305
86$27,600,278$373,861$0$15,879,538
87$30,295,601$272,275$0$17,399,904
88$33,262,071$161,935$0$19,073,605
89$36,527,224$42,292$0$20,916,293
90$40,121,405$0$0$22,945,222
91$44,078,047$0$0$25,200,528
92$48,433,990$0$0$27,694,832
93$53,229,829$0$0$30,441,156
94$58,510,294$0$0$33,465,131
95$64,324,673$0$0$36,795,000
96$70,727,279$0$0$40,461,882
97$77,777,957$0$0$44,500,071
98$85,542,655$0$0$48,947,354
99$94,094,038$0$0$53,845,371
100$103,512,183$0$0$59,240,005