Can I retire at age 47 with 550,000?

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 $550,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$45,418$45,014$44,619$44,234$43,858$42,454
2 years$22,484$22,066$21,660$21,266$20,885$19,483
3 years$14,841$14,420$14,015$13,626$13,250$11,895
4 years$11,020$10,600$10,200$9,816$9,450$8,152
5 years$8,728$8,311$7,915$7,540$7,184$5,946
6 years$7,200$6,786$6,397$6,030$5,684$4,508
7 years$6,109$5,699$5,316$4,957$4,623$3,507
8 years$5,292$4,885$4,508$4,159$3,835$2,780
9 years$4,656$4,254$3,883$3,542$3,230$2,234
10 years$4,148$3,749$3,385$3,053$2,752$1,814
11 years$3,732$3,338$2,980$2,657$2,367$1,485
12 years$3,386$2,996$2,645$2,331$2,051$1,223
13 years$3,094$2,707$2,363$2,058$1,788$1,013
14 years$2,843$2,461$2,123$1,827$1,568$842
15 years$2,626$2,248$1,917$1,629$1,380$702
16 years$2,437$2,063$1,738$1,459$1,220$587
17 years$2,270$1,900$1,582$1,311$1,082$492
18 years$2,121$1,755$1,444$1,181$962$414
19 years$1,989$1,627$1,322$1,067$857$348
20 years$1,869$1,512$1,213$967$766$293
21 years$1,762$1,408$1,116$877$685$247
22 years$1,664$1,314$1,028$798$614$209
23 years$1,575$1,229$949$726$551$176
24 years$1,493$1,152$878$663$496$149
25 years$1,418$1,081$813$605$446$126
26 years$1,349$1,016$754$553$402$107
27 years$1,285$956$700$506$362$90
28 years$1,226$901$651$464$327$76
29 years$1,171$850$606$425$295$65
30 years$1,120$803$564$390$267$55
31 years$1,072$759$526$359$241$46
32 years$1,027$718$491$330$218$39
33 years$985$680$458$303$197$33
34 years$946$644$428$279$179$28
35 years$908$611$400$257$162$24
36 years$874$580$375$236$147$20
37 years$841$551$351$218$133$17
38 years$809$524$328$201$120$15
39 years$780$498$308$185$109$12
40 years$752$474$288$171$99$10
41 years$725$451$270$158$90$9
42 years$700$429$254$145$82$8
43 years$676$409$238$134$74$6
44 years$653$390$223$124$67$5
45 years$632$372$210$114$61$5
46 years$611$355$197$106$55$4
47 years$591$339$185$98$50$3
48 years$572$323$174$90$46$3
49 years$554$309$163$83$41$2
50 years$537$295$154$77$38$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $550,000, adding $2,840 every year, while hoping to spend $42,469 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: 57/19/24 Blend
46$550,000$550,000$550,000$550,000
47$609,029$579,879$571,354$639,629
48$625,964$563,107$545,308$644,095
49$643,202$544,089$516,966$644,210
50$660,730$522,671$486,206$643,433
51$678,532$498,689$452,901$641,688
52$696,587$471,970$416,918$638,897
53$714,873$442,330$378,119$634,973
54$733,362$409,576$336,357$629,825
55$752,022$373,502$291,482$623,355
56$770,816$333,893$243,336$615,457
57$789,704$290,518$191,752$606,019
58$808,636$243,136$136,558$594,920
59$827,559$191,491$77,575$582,029
60$846,410$135,314$14,613$567,207
61$865,118$74,319$0$550,305
62$883,604$8,205$0$544,626
63$901,779$0$0$541,402
64$919,541$0$0$550,001
65$936,777$0$0$559,958
66$953,359$0$0$569,477
67$969,145$0$0$578,468
68$983,975$0$0$586,830
69$997,672$0$0$594,449
70$1,010,035$0$0$601,199
71$1,020,843$0$0$606,941
72$1,029,849$0$0$611,518
73$1,036,778$0$0$614,756
74$1,041,322$0$0$616,461
75$1,043,142$0$0$616,419
76$1,041,859$0$0$614,390
77$1,037,053$0$0$610,110
78$1,028,258$0$0$603,284
79$1,014,957$0$0$593,587
80$996,576$0$0$580,657
81$972,481$0$0$564,094
82$941,967$0$0$543,454
83$904,254$0$0$518,246
84$858,480$0$0$487,926
85$803,691$0$0$451,894
86$738,828$0$0$409,484
87$662,724$0$0$359,960
88$574,087$0$0$302,509
89$471,487$0$0$236,232
90$353,345$0$0$160,134
91$217,916$0$0$73,119
92$63,273$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0