Can I retire at age 47 with 580,000?

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 $580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$47,896$47,469$47,053$46,647$46,250$44,698
2 years$23,711$23,269$22,841$22,426$22,024$20,475
3 years$15,650$15,207$14,780$14,369$13,973$12,477
4 years$11,621$11,179$10,756$10,352$9,966$8,533
5 years$9,204$8,764$8,347$7,951$7,576$6,211
6 years$7,593$7,157$6,746$6,359$5,994$4,698
7 years$6,443$6,010$5,606$5,228$4,875$3,647
8 years$5,580$5,152$4,754$4,385$4,044$2,884
9 years$4,910$4,486$4,095$3,735$3,406$2,312
10 years$4,374$3,954$3,570$3,220$2,902$1,872
11 years$3,936$3,520$3,143$2,802$2,496$1,529
12 years$3,571$3,159$2,789$2,458$2,163$1,256
13 years$3,263$2,855$2,492$2,170$1,886$1,037
14 years$2,998$2,595$2,239$1,926$1,653$860
15 years$2,770$2,371$2,022$1,718$1,456$715
16 years$2,570$2,175$1,833$1,538$1,287$596
17 years$2,393$2,003$1,668$1,382$1,141$499
18 years$2,237$1,851$1,522$1,246$1,014$417
19 years$2,097$1,715$1,394$1,125$904$350
20 years$1,971$1,594$1,279$1,019$808$294
21 years$1,858$1,485$1,177$925$723$247
22 years$1,754$1,386$1,084$841$648$208
23 years$1,660$1,296$1,001$766$581$175
24 years$1,574$1,215$926$699$523$148
25 years$1,495$1,140$858$638$470$124
26 years$1,422$1,071$795$583$424$105
27 years$1,355$1,008$739$534$382$88
28 years$1,293$950$687$489$345$75
29 years$1,235$896$639$449$311$63
30 years$1,181$846$595$412$281$53
31 years$1,130$800$555$378$254$45
32 years$1,083$757$518$348$230$38
33 years$1,039$717$483$320$208$32
34 years$997$680$452$294$188$27
35 years$958$645$422$271$171$23
36 years$921$612$395$249$155$19
37 years$886$581$370$230$140$16
38 years$854$552$346$212$127$14
39 years$822$525$324$195$115$12
40 years$793$500$304$180$104$10
41 years$765$476$285$166$95$8
42 years$738$453$267$153$86$7
43 years$713$431$251$142$78$6
44 years$689$411$236$131$71$5
45 years$666$392$221$121$64$4
46 years$644$374$208$111$58$4
47 years$624$357$195$103$53$3
48 years$604$341$183$95$48$3
49 years$585$326$172$88$44$2
50 years$566$311$162$81$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $580,000, adding $5,451 every year, while hoping to spend $21,802 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: 51/37/12 Blend
46$580,000$580,000$580,000$580,000
47$644,783$614,043$605,053$675,331
48$687,353$620,934$602,125$703,705
49$733,536$627,432$598,368$731,771
50$783,675$633,494$593,732$761,784
51$838,150$639,076$588,163$793,934
52$897,381$644,130$581,605$828,430
53$961,825$648,604$574,001$865,504
54$1,031,990$652,444$565,288$905,412
55$1,108,431$655,592$555,404$948,434
56$1,191,762$657,987$544,280$994,885
57$1,282,655$659,562$531,848$1,045,108
58$1,381,854$660,248$518,032$1,099,484
59$1,490,175$659,972$502,758$1,158,435
60$1,608,516$658,655$485,944$1,222,425
61$1,737,868$656,212$467,507$1,291,968
62$1,879,321$652,557$447,358$1,367,630
63$2,034,074$647,594$425,407$1,450,039
64$2,203,448$641,224$401,556$1,539,887
65$2,388,898$633,343$375,707$1,637,938
66$2,592,025$623,837$347,753$1,745,035
67$2,814,595$612,588$317,586$1,862,111
68$3,058,550$599,471$285,091$1,990,195
69$3,326,030$584,352$250,149$2,130,423
70$3,619,390$567,091$212,635$2,284,050
71$3,941,228$547,539$172,419$2,452,460
72$4,294,402$525,537$129,363$2,637,182
73$4,682,062$500,919$83,328$2,839,905
74$5,107,677$473,508$34,163$3,062,490
75$5,575,067$443,118$0$3,306,994
76$6,088,443$409,550$0$3,578,030
77$6,652,443$372,596$0$3,880,579
78$7,272,174$332,035$0$4,213,048
79$7,953,264$287,634$0$4,578,508
80$8,701,915$239,145$0$4,980,350
81$9,524,957$186,310$0$5,422,311
82$10,429,916$128,852$0$5,908,513
83$11,425,083$66,482$0$6,443,505
84$12,519,593$0$0$7,032,300
85$13,723,512$0$0$7,680,881
86$15,047,929$0$0$8,424,221
87$16,505,061$0$0$9,242,119
88$18,108,372$0$0$10,142,139
89$19,872,694$0$0$11,132,617
90$21,814,371$0$0$12,222,736
91$23,951,410$0$0$13,422,618
92$26,303,655$0$0$14,743,412
93$28,892,969$0$0$16,197,406
94$31,743,442$0$0$17,798,137
95$34,881,621$0$0$19,560,523
96$38,336,755$0$0$21,501,002
97$42,141,074$0$0$23,637,688
98$46,330,094$0$0$25,990,538
99$50,942,949$0$0$28,581,546
100$56,022,761$0$0$31,434,945