Can I retire at age 47 with 350,000?

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 $350,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$28,903$28,645$28,394$28,149$27,909$27,005
2 years$14,308$14,042$13,784$13,533$13,290$12,388
3 years$9,444$9,176$8,919$8,671$8,432$7,559
4 years$7,012$6,746$6,491$6,247$6,014$5,178
5 years$5,554$5,289$5,037$4,798$4,572$3,775
6 years$4,582$4,319$4,071$3,837$3,617$2,860
7 years$3,888$3,627$3,383$3,155$2,942$2,224
8 years$3,367$3,109$2,869$2,646$2,441$1,762
9 years$2,963$2,707$2,471$2,254$2,055$1,415
10 years$2,640$2,386$2,154$1,943$1,751$1,148
11 years$2,375$2,124$1,897$1,691$1,506$939
12 years$2,155$1,906$1,683$1,483$1,305$773
13 years$1,969$1,723$1,504$1,310$1,138$640
14 years$1,809$1,566$1,351$1,162$998$531
15 years$1,671$1,431$1,220$1,037$878$443
16 years$1,551$1,313$1,106$928$776$370
17 years$1,444$1,209$1,006$834$688$310
18 years$1,350$1,117$919$752$612$260
19 years$1,265$1,035$841$679$546$219
20 years$1,190$962$772$615$487$184
21 years$1,121$896$710$558$436$155
22 years$1,059$836$654$508$391$131
23 years$1,002$782$604$462$351$110
24 years$950$733$559$422$315$93
25 years$902$688$518$385$284$79
26 years$858$646$480$352$256$67
27 years$818$608$446$322$230$56
28 years$780$573$414$295$208$48
29 years$745$541$386$271$188$40
30 years$712$511$359$248$170$34
31 years$682$483$335$228$153$29
32 years$654$457$312$210$139$24
33 years$627$433$292$193$126$21
34 years$602$410$273$177$114$18
35 years$578$389$255$163$103$15
36 years$556$369$238$150$93$13
37 years$535$351$223$139$85$11
38 years$515$333$209$128$77$9
39 years$496$317$196$118$70$8
40 years$479$301$183$109$63$6
41 years$462$287$172$100$57$5
42 years$446$273$161$93$52$5
43 years$430$260$151$85$47$4
44 years$416$248$142$79$43$3
45 years$402$237$133$73$39$3
46 years$389$226$125$67$35$2
47 years$376$215$118$62$32$2
48 years$364$206$111$57$29$2
49 years$353$196$104$53$26$1
50 years$342$188$98$49$24$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $350,000, adding $2,314 every year, while hoping to spend $21,392 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: 75/20/5 Blend
46$350,000$350,000$350,000$350,000
47$388,087$369,537$364,112$416,888
48$404,911$364,883$353,549$431,483
49$422,734$359,285$341,915$444,501
50$441,635$352,672$329,151$458,142
51$461,702$344,973$315,198$472,457
52$483,028$336,109$299,990$487,507
53$505,718$326,000$283,460$503,357
54$529,885$314,558$265,540$520,078
55$555,654$301,691$246,156$537,751
56$583,160$287,304$225,232$556,463
57$612,553$271,292$202,688$576,313
58$643,996$253,548$178,441$597,409
59$677,669$233,957$152,404$619,870
60$713,768$212,398$124,486$643,829
61$752,509$188,742$94,593$669,432
62$794,128$162,854$62,625$696,841
63$838,886$134,590$28,479$726,237
64$887,067$103,800$0$757,817
65$938,986$70,324$0$792,225
66$994,985$33,992$0$830,931
67$1,055,443$0$0$872,686
68$1,120,775$0$0$918,978
69$1,191,439$0$0$977,150
70$1,267,934$0$0$1,040,135
71$1,350,814$0$0$1,108,389
72$1,440,684$0$0$1,182,412
73$1,538,212$0$0$1,262,757
74$1,644,130$0$0$1,350,029
75$1,759,247$0$0$1,444,894
76$1,884,449$0$0$1,548,086
77$2,020,713$0$0$1,660,412
78$2,169,114$0$0$1,782,760
79$2,330,834$0$0$1,916,106
80$2,507,173$0$0$2,061,525
81$2,699,566$0$0$2,220,202
82$2,909,587$0$0$2,393,438
83$3,138,972$0$0$2,582,668
84$3,389,631$0$0$2,789,469
85$3,663,668$0$0$3,015,581
86$3,963,398$0$0$3,262,916
87$4,291,371$0$0$3,533,581
88$4,650,394$0$0$3,829,897
89$5,043,558$0$0$4,154,417
90$5,474,268$0$0$4,509,955
91$5,946,272$0$0$4,899,609
92$6,463,700$0$0$5,326,791
93$7,031,100$0$0$5,795,260
94$7,653,480$0$0$6,309,154
95$8,336,356$0$0$6,873,034
96$9,085,806$0$0$7,491,919
97$9,908,522$0$0$8,171,343
98$10,811,879$0$0$8,917,399
99$11,803,997$0$0$9,736,798
100$12,893,825$0$0$10,636,936