Can I retire at age 47 with 370,000?

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 $370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$30,554$30,282$30,017$29,757$29,504$28,571
2 years$15,126$14,844$14,571$14,306$14,050$13,118
3 years$9,984$9,701$9,428$9,166$8,914$8,013
4 years$7,413$7,131$6,862$6,604$6,357$5,494
5 years$5,871$5,591$5,325$5,072$4,833$4,009
6 years$4,844$4,565$4,303$4,056$3,824$3,041
7 years$4,110$3,834$3,576$3,335$3,110$2,368
8 years$3,560$3,286$3,033$2,798$2,580$1,878
9 years$3,132$2,861$2,612$2,383$2,173$1,510
10 years$2,790$2,522$2,277$2,054$1,851$1,227
11 years$2,511$2,245$2,005$1,788$1,592$1,005
12 years$2,278$2,015$1,779$1,568$1,380$828
13 years$2,081$1,821$1,590$1,384$1,203$686
14 years$1,913$1,655$1,428$1,229$1,055$571
15 years$1,767$1,512$1,290$1,096$929$477
16 years$1,639$1,388$1,169$981$821$399
17 years$1,527$1,278$1,064$882$728$335
18 years$1,427$1,181$971$795$647$281
19 years$1,338$1,094$889$718$577$237
20 years$1,258$1,017$816$650$515$200
21 years$1,185$947$751$590$461$168
22 years$1,119$884$692$537$413$142
23 years$1,059$827$639$489$371$120
24 years$1,004$775$591$446$333$102
25 years$954$727$547$407$300$86
26 years$907$683$507$372$270$73
27 years$864$643$471$341$244$62
28 years$825$606$438$312$220$52
29 years$788$572$408$286$199$44
30 years$753$540$380$263$179$38
31 years$721$510$354$241$162$32
32 years$691$483$330$222$147$27
33 years$663$457$308$204$133$23
34 years$636$433$288$188$120$19
35 years$611$411$269$173$109$17
36 years$588$390$252$159$99$14
37 years$565$371$236$147$89$12
38 years$544$352$221$135$81$10
39 years$525$335$207$125$73$9
40 years$506$319$194$115$67$7
41 years$488$303$182$106$60$6
42 years$471$289$171$98$55$5
43 years$455$275$160$90$50$4
44 years$440$262$150$83$45$4
45 years$425$250$141$77$41$3
46 years$411$239$133$71$37$3
47 years$398$228$124$66$34$2
48 years$385$217$117$61$31$2
49 years$373$208$110$56$28$2
50 years$361$198$103$52$25$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $370,000, adding $5,107 every year, while hoping to spend $24,764 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: 66/16/18 Blend
46$370,000$370,000$370,000$370,000
47$413,008$393,398$387,663$438,106
48$428,786$386,326$374,301$448,476
49$445,343$378,077$359,661$456,478
50$462,734$368,568$343,675$464,626
51$481,015$357,710$326,270$472,933
52$500,249$345,409$307,372$481,417
53$520,506$331,565$286,900$490,095
54$541,860$316,074$264,774$498,988
55$564,393$298,825$240,906$508,122
56$588,192$279,698$215,208$517,525
57$613,355$258,571$187,585$527,229
58$639,988$235,312$157,940$537,269
59$668,205$209,781$126,169$547,689
60$698,134$181,831$92,167$558,535
61$729,910$151,308$55,822$569,860
62$763,686$118,047$17,017$581,725
63$799,626$81,875$0$594,199
64$837,910$42,609$0$612,043
65$878,735$56$0$634,451
66$922,319$0$0$658,274
67$968,897$0$0$691,747
68$1,018,731$0$0$727,584
69$1,072,104$0$0$765,982
70$1,129,329$0$0$807,169
71$1,190,749$0$0$851,393
72$1,256,740$0$0$898,928
73$1,327,715$0$0$950,073
74$1,404,128$0$0$1,005,158
75$1,486,475$0$0$1,064,544
76$1,575,305$0$0$1,128,629
77$1,671,217$0$0$1,197,848
78$1,774,872$0$0$1,272,682
79$1,886,995$0$0$1,353,658
80$2,008,384$0$0$1,441,355
81$2,139,916$0$0$1,536,410
82$2,282,554$0$0$1,639,523
83$2,437,359$0$0$1,751,466
84$2,605,496$0$0$1,873,086
85$2,788,248$0$0$2,005,314
86$2,987,027$0$0$2,149,177
87$3,203,383$0$0$2,305,802
88$3,439,026$0$0$2,476,431
89$3,695,835$0$0$2,662,431
90$3,975,878$0$0$2,865,304
91$4,281,433$0$0$3,086,708
92$4,615,004$0$0$3,328,462
93$4,979,351$0$0$3,592,573
94$5,377,510$0$0$3,881,248
95$5,812,824$0$0$4,196,918
96$6,288,976$0$0$4,542,260
97$6,810,016$0$0$4,920,221
98$7,380,410$0$0$5,334,045
99$8,005,070$0$0$5,787,306
100$8,689,409$0$0$6,283,939