Can I retire at age 47 with 500,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$41,290$40,922$40,563$40,213$39,871$38,517
2 years$20,440$20,060$19,691$19,333$18,986$17,636
3 years$13,492$13,109$12,741$12,387$12,046$10,741
4 years$10,018$9,637$9,272$8,924$8,591$7,343
5 years$7,934$7,555$7,196$6,855$6,531$5,342
6 years$6,545$6,169$5,815$5,482$5,168$4,038
7 years$5,554$5,181$4,832$4,507$4,203$3,133
8 years$4,811$4,441$4,098$3,781$3,486$2,476
9 years$4,233$3,867$3,530$3,220$2,936$1,984
10 years$3,771$3,408$3,077$2,776$2,502$1,606
11 years$3,393$3,034$2,709$2,416$2,152$1,310
12 years$3,079$2,723$2,404$2,119$1,864$1,076
13 years$2,813$2,461$2,148$1,871$1,626$887
14 years$2,585$2,237$1,930$1,661$1,425$735
15 years$2,388$2,044$1,743$1,481$1,255$611
16 years$2,215$1,875$1,580$1,326$1,109$509
17 years$2,063$1,727$1,438$1,191$983$425
18 years$1,928$1,596$1,312$1,074$874$356
19 years$1,808$1,479$1,202$970$779$298
20 years$1,699$1,374$1,103$879$696$250
21 years$1,601$1,280$1,014$798$623$210
22 years$1,512$1,195$935$725$558$177
23 years$1,431$1,118$863$660$501$149
24 years$1,357$1,047$798$602$451$125
25 years$1,289$983$739$550$405$105
26 years$1,226$923$686$503$365$89
27 years$1,168$869$637$460$329$75
28 years$1,114$819$592$422$297$63
29 years$1,064$773$551$387$268$53
30 years$1,018$730$513$355$242$45
31 years$974$690$478$326$219$38
32 years$934$653$446$300$198$32
33 years$895$618$417$276$179$27
34 years$860$586$389$254$162$23
35 years$826$556$364$233$147$19
36 years$794$527$341$215$133$16
37 years$764$501$319$198$121$14
38 years$736$476$298$183$110$12
39 years$709$453$280$168$99$10
40 years$684$431$262$155$90$8
41 years$659$410$246$143$82$7
42 years$637$390$231$132$74$6
43 years$615$372$216$122$67$5
44 years$594$355$203$113$61$4
45 years$574$338$191$104$55$4
46 years$555$323$179$96$50$3
47 years$538$308$168$89$46$3
48 years$520$294$158$82$42$2
49 years$504$281$149$76$38$2
50 years$488$268$140$70$34$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $500,000, adding $3,472 every year, while hoping to spend $26,013 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: 79/7/14 Blend
46$500,000$500,000$500,000$500,000
47$554,581$528,081$520,331$596,554
48$583,471$526,280$510,085$622,862
49$614,436$523,518$498,623$648,035
50$647,659$519,722$485,878$674,916
51$683,344$514,811$471,779$703,664
52$721,712$508,704$456,250$734,456
53$763,006$501,310$439,214$767,486
54$807,495$492,536$420,590$802,968
55$855,470$482,282$400,291$841,138
56$907,257$470,442$378,229$882,256
57$963,208$456,904$354,310$926,610
58$1,023,713$441,551$328,438$974,517
59$1,089,201$424,256$300,510$1,026,324
60$1,160,143$404,888$270,420$1,082,417
61$1,237,056$383,306$238,058$1,143,221
62$1,320,509$359,361$203,306$1,209,203
63$1,411,128$332,897$166,044$1,280,879
64$1,509,603$303,749$126,146$1,358,819
65$1,616,690$271,740$83,479$1,443,649
66$1,733,222$236,685$37,906$1,536,063
67$1,860,117$198,389$0$1,636,823
68$1,998,384$156,645$0$1,748,374
69$2,149,133$111,234$0$1,876,188
70$2,313,586$61,926$0$2,015,643
71$2,493,088$8,477$0$2,167,892
72$2,689,120$0$0$2,334,207
73$2,903,312$0$0$2,519,788
74$3,137,459$0$0$2,723,386
75$3,393,536$0$0$2,946,069
76$3,673,719$0$0$3,189,730
77$3,980,403$0$0$3,456,454
78$4,316,225$0$0$3,748,537
79$4,684,091$0$0$4,068,507
80$5,087,198$0$0$4,419,149
81$5,529,071$0$0$4,803,530
82$6,013,588$0$0$5,225,027
83$6,545,023$0$0$5,687,360
84$7,128,084$0$0$6,194,627
85$7,767,953$0$0$6,751,340
86$8,470,343$0$0$7,362,471
87$9,241,543$0$0$8,033,496
88$10,088,484$0$0$8,770,447
89$11,018,798$0$0$9,579,970
90$12,040,894$0$0$10,469,384
91$13,164,037$0$0$11,446,755
92$14,398,433$0$0$12,520,967
93$15,755,324$0$0$13,701,807
94$17,247,097$0$0$15,000,060
95$18,887,401$0$0$16,427,606
96$20,691,270$0$0$17,997,533
97$22,675,271$0$0$19,724,265
98$24,857,655$0$0$21,623,688
99$27,258,531$0$0$23,713,311
100$29,900,056$0$0$26,012,422