Can I retire at age 47 with 590,000?

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 $590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$48,722$48,288$47,864$47,451$47,047$45,360
2 years$24,120$23,670$23,235$22,813$22,404$20,722
3 years$15,920$15,469$15,035$14,616$14,214$12,591
4 years$11,821$11,371$10,941$10,530$10,137$8,585
5 years$9,362$8,915$8,491$8,088$7,706$6,229
6 years$7,724$7,280$6,862$6,468$6,098$4,696
7 years$6,554$6,114$5,702$5,318$4,959$3,633
8 years$5,677$5,241$4,836$4,461$4,114$2,863
9 years$4,995$4,563$4,165$3,800$3,465$2,287
10 years$4,450$4,022$3,631$3,276$2,952$1,845
11 years$4,004$3,580$3,197$2,851$2,539$1,500
12 years$3,633$3,214$2,837$2,500$2,200$1,228
13 years$3,319$2,904$2,535$2,208$1,919$1,010
14 years$3,050$2,640$2,278$1,960$1,682$833
15 years$2,817$2,412$2,056$1,748$1,481$690
16 years$2,614$2,213$1,864$1,565$1,309$573
17 years$2,435$2,038$1,697$1,406$1,160$477
18 years$2,275$1,883$1,549$1,267$1,032$398
19 years$2,133$1,745$1,418$1,145$920$332
20 years$2,005$1,622$1,301$1,037$821$278
21 years$1,890$1,510$1,197$941$735$232
22 years$1,785$1,410$1,103$856$659$194
23 years$1,689$1,319$1,018$779$591$163
24 years$1,602$1,236$942$711$532$137
25 years$1,521$1,159$872$649$478$115
26 years$1,447$1,090$809$593$431$96
27 years$1,378$1,026$751$543$389$81
28 years$1,315$966$698$498$351$68
29 years$1,256$912$650$456$317$57
30 years$1,201$861$605$419$286$48
31 years$1,150$814$564$385$259$40
32 years$1,102$770$527$354$234$34
33 years$1,057$729$492$325$212$28
34 years$1,014$691$459$299$192$24
35 years$975$656$430$275$174$20
36 years$937$622$402$254$157$17
37 years$902$591$376$234$143$14
38 years$868$562$352$215$129$12
39 years$837$534$330$199$117$10
40 years$807$508$309$183$106$8
41 years$778$484$290$169$96$7
42 years$751$461$272$156$88$6
43 years$725$439$255$144$79$5
44 years$701$418$240$133$72$4
45 years$678$399$225$123$65$4
46 years$655$381$211$113$59$3
47 years$634$363$199$105$54$3
48 years$614$347$187$97$49$2
49 years$595$331$175$89$45$2
50 years$576$316$165$83$40$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $590,000, adding $4,695 every year, while hoping to spend $40,078 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: 76/8/16 Blend
46$590,000$590,000$590,000$590,000
47$655,023$623,753$614,608$702,151
48$679,193$611,674$592,555$721,855
49$704,484$597,660$568,419$737,987
50$730,970$581,574$542,090$754,586
51$758,728$563,271$513,449$771,686
52$787,844$542,596$482,375$789,325
53$818,408$519,388$448,739$807,546
54$850,522$493,473$412,407$826,395
55$884,293$464,671$373,241$845,926
56$919,840$432,789$331,093$866,197
57$957,291$397,623$285,813$887,274
58$996,786$358,959$237,239$909,229
59$1,038,479$316,568$185,207$932,145
60$1,082,534$270,210$129,542$956,111
61$1,129,134$219,632$70,063$981,229
62$1,178,478$164,566$6,582$1,007,611
63$1,230,780$104,728$0$1,035,382
64$1,286,279$39,818$0$1,075,124
65$1,345,232$0$0$1,118,425
66$1,407,923$0$0$1,167,055
67$1,474,660$0$0$1,222,568
68$1,545,784$0$0$1,281,741
69$1,621,664$0$0$1,344,887
70$1,702,708$0$0$1,412,344
71$1,789,360$0$0$1,484,486
72$1,882,110$0$0$1,561,720
73$1,981,493$0$0$1,644,496
74$2,088,096$0$0$1,733,304
75$2,202,565$0$0$1,828,685
76$2,325,605$0$0$1,931,230
77$2,457,995$0$0$2,041,589
78$2,600,587$0$0$2,160,476
79$2,754,317$0$0$2,288,674
80$2,920,214$0$0$2,427,046
81$3,099,410$0$0$2,576,537
82$3,293,145$0$0$2,738,186
83$3,502,785$0$0$2,913,137
84$3,729,831$0$0$3,102,647
85$3,975,934$0$0$3,308,096
86$4,242,907$0$0$3,531,004
87$4,532,746$0$0$3,773,041
88$4,847,647$0$0$4,036,045
89$5,190,023$0$0$4,322,038
90$5,562,531$0$0$4,633,242
91$5,968,093$0$0$4,972,106
92$6,409,926$0$0$5,341,321
93$6,891,567$0$0$5,743,851
94$7,416,912$0$0$6,182,957
95$7,990,249$0$0$6,662,229
96$8,616,295$0$0$7,185,618
97$9,300,246$0$0$7,757,473
98$10,047,820$0$0$8,382,584
99$10,865,314$0$0$9,066,222
100$11,759,659$0$0$9,814,193