Can I retire at age 47 with 420,000?

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 $420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$34,683$34,374$34,073$33,779$33,491$33,087
2 years$17,170$16,850$16,540$16,240$15,948$15,541
3 years$11,333$11,012$10,703$10,405$10,118$9,721
4 years$8,415$8,095$7,789$7,496$7,216$6,832
5 years$6,665$6,346$6,044$5,758$5,486$5,116
6 years$5,498$5,182$4,885$4,605$4,341$3,986
7 years$4,665$4,352$4,059$3,786$3,530$3,190
8 years$4,041$3,731$3,443$3,176$2,929$2,603
9 years$3,556$3,248$2,965$2,705$2,466$2,155
10 years$3,167$2,863$2,585$2,332$2,101$1,805
11 years$2,850$2,549$2,276$2,029$1,807$1,525
12 years$2,586$2,288$2,020$1,780$1,566$1,298
13 years$2,363$2,067$1,805$1,571$1,366$1,111
14 years$2,171$1,879$1,621$1,395$1,197$956
15 years$2,006$1,717$1,464$1,244$1,054$825
16 years$1,861$1,575$1,327$1,114$932$715
17 years$1,733$1,451$1,208$1,001$826$622
18 years$1,620$1,340$1,102$902$734$542
19 years$1,518$1,242$1,009$815$655$473
20 years$1,427$1,154$926$738$585$414
21 years$1,345$1,075$852$670$523$362
22 years$1,270$1,004$785$609$469$318
23 years$1,202$939$725$555$421$279
24 years$1,140$880$671$506$378$245
25 years$1,083$825$621$462$341$216
26 years$1,030$776$576$422$307$190
27 years$981$730$535$387$277$168
28 years$936$688$497$354$250$148
29 years$894$649$463$325$225$130
30 years$855$613$431$298$204$115
31 years$818$579$402$274$184$102
32 years$784$548$375$252$167$90
33 years$752$519$350$231$151$79
34 years$722$492$327$213$136$70
35 years$694$467$306$196$124$62
36 years$667$443$286$181$112$55
37 years$642$421$268$166$101$48
38 years$618$400$251$153$92$43
39 years$596$380$235$141$83$38
40 years$574$362$220$130$76$34
41 years$554$344$206$120$69$30
42 years$535$328$194$111$62$26
43 years$516$312$182$102$57$23
44 years$499$298$171$95$51$21
45 years$482$284$160$87$47$18
46 years$467$271$150$81$42$16
47 years$452$259$141$75$38$14
48 years$437$247$133$69$35$13
49 years$423$236$125$64$32$11
50 years$410$225$117$59$29$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $420,000, adding $3,401 every year, while hoping to spend $26,348 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: 54/22/24 Blend
46$420,000$420,000$420,000$420,000
47$466,348$444,088$437,578$488,279
48$485,882$437,814$424,203$497,468
49$506,524$430,350$409,497$504,447
50$528,362$421,609$393,387$511,496
51$551,487$411,501$375,798$518,632
52$576,002$399,927$356,650$525,871
53$602,018$386,787$335,861$533,238
54$629,656$371,972$313,345$540,757
55$659,049$355,367$289,011$548,459
56$690,344$336,852$262,764$556,379
57$723,698$316,297$234,506$564,559
58$759,288$293,568$204,134$573,045
59$797,303$268,521$171,541$581,892
60$837,954$241,004$136,614$591,160
61$881,471$210,858$99,235$600,922
62$928,104$177,914$59,282$611,257
63$978,130$141,991$16,628$622,258
64$1,031,853$102,903$0$634,027
65$1,089,606$60,448$0$654,082
66$1,151,753$14,417$0$680,181
67$1,218,695$0$0$708,248
68$1,290,874$0$0$747,066
69$1,368,774$0$0$792,757
70$1,452,925$0$0$842,148
71$1,543,912$0$0$895,585
72$1,642,378$0$0$953,451
73$1,749,029$0$0$1,016,164
74$1,864,640$0$0$1,084,186
75$1,990,067$0$0$1,158,023
76$2,126,246$0$0$1,238,235
77$2,274,211$0$0$1,325,434
78$2,435,098$0$0$1,420,295
79$2,610,157$0$0$1,523,563
80$2,800,761$0$0$1,636,052
81$3,008,425$0$0$1,758,664
82$3,234,813$0$0$1,892,388
83$3,481,758$0$0$2,038,314
84$3,751,277$0$0$2,197,640
85$4,045,590$0$0$2,371,688
86$4,367,140$0$0$2,561,910
87$4,718,619$0$0$2,769,906
88$5,102,989$0$0$2,997,438
89$5,523,511$0$0$3,246,446
90$5,983,777$0$0$3,519,066
91$6,487,742$0$0$3,817,650
92$7,039,760$0$0$4,144,788
93$7,644,627$0$0$4,503,332
94$8,307,625$0$0$4,896,425
95$9,034,571$0$0$5,327,527
96$9,831,872$0$0$5,800,449
97$10,706,585$0$0$6,319,389
98$11,666,482$0$0$6,888,970
99$12,720,125$0$0$7,514,286
100$13,876,946$0$0$8,200,948