Can I retire at age 47 with 670,000?

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 $670,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$55,328$54,835$54,354$53,885$53,427$53,068
2 years$27,390$26,880$26,386$25,906$25,441$25,079
3 years$18,079$17,566$17,073$16,598$16,141$15,787
4 years$13,424$12,913$12,425$11,958$11,512$11,169
5 years$10,632$10,124$9,642$9,185$8,751$8,420
6 years$8,771$8,267$7,792$7,345$6,924$6,606
7 years$7,442$6,943$6,476$6,039$5,631$5,325
8 years$6,446$5,951$5,492$5,066$4,672$4,378
9 years$5,672$5,182$4,730$4,315$3,934$3,653
10 years$5,053$4,567$4,124$3,720$3,352$3,083
11 years$4,547$4,066$3,630$3,237$2,883$2,626
12 years$4,125$3,649$3,222$2,839$2,498$2,253
13 years$3,769$3,298$2,879$2,507$2,179$1,945
14 years$3,464$2,998$2,586$2,225$1,910$1,687
15 years$3,199$2,739$2,335$1,985$1,682$1,470
16 years$2,968$2,513$2,117$1,777$1,486$1,285
17 years$2,765$2,314$1,927$1,597$1,318$1,127
18 years$2,584$2,138$1,759$1,439$1,172$991
19 years$2,422$1,982$1,610$1,300$1,044$874
20 years$2,277$1,841$1,478$1,178$933$771
21 years$2,146$1,715$1,359$1,069$835$682
22 years$2,027$1,601$1,253$972$748$604
23 years$1,918$1,497$1,157$885$672$536
24 years$1,819$1,403$1,070$807$604$476
25 years$1,727$1,317$991$737$543$423
26 years$1,643$1,237$919$674$489$377
27 years$1,565$1,165$853$617$441$335
28 years$1,493$1,097$793$565$398$299
29 years$1,426$1,035$738$518$359$266
30 years$1,364$978$688$476$325$238
31 years$1,306$924$641$437$294$212
32 years$1,251$875$598$401$266$189
33 years$1,200$828$558$369$240$169
34 years$1,152$785$522$340$218$151
35 years$1,107$745$488$313$197$135
36 years$1,064$707$456$288$179$121
37 years$1,024$671$427$265$162$108
38 years$986$638$400$245$147$97
39 years$950$607$375$226$133$86
40 years$916$577$351$208$121$77
41 years$884$549$329$192$110$69
42 years$853$523$309$177$99$62
43 years$824$498$290$163$90$55
44 years$796$475$272$151$82$50
45 years$770$453$255$139$74$44
46 years$744$432$240$129$67$40
47 years$720$412$225$119$61$36
48 years$697$394$212$110$56$32
49 years$675$376$199$102$51$29
50 years$654$359$187$94$46$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $670,000, adding $2,489 every year, while hoping to spend $42,434 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: 88/5/7 Blend
46$670,000$670,000$670,000$670,000
47$740,907$705,397$695,012$805,538
48$771,331$694,812$673,146$837,416
49$803,435$682,287$649,125$866,289
50$837,346$667,680$622,832$896,646
51$873,204$650,844$594,145$928,604
52$911,158$631,623$562,936$962,291
53$951,373$609,850$529,071$997,851
54$994,029$585,349$492,412$1,035,437
55$1,039,324$557,934$452,811$1,075,221
56$1,087,471$527,409$410,116$1,117,390
57$1,138,707$493,566$364,169$1,162,149
58$1,193,288$456,184$314,802$1,209,726
59$1,251,498$415,031$261,842$1,260,369
60$1,313,644$369,861$205,107$1,314,351
61$1,380,066$320,415$144,408$1,371,975
62$1,451,135$266,417$79,548$1,433,571
63$1,527,257$207,578$10,319$1,499,504
64$1,608,878$143,591$0$1,570,176
65$1,696,490$74,132$0$1,650,775
66$1,790,628$0$0$1,738,172
67$1,891,882$0$0$1,832,211
68$2,000,901$0$0$1,937,855
69$2,118,395$0$0$2,051,716
70$2,245,146$0$0$2,174,552
71$2,382,012$0$0$2,307,194
72$2,529,935$0$0$2,450,556
73$2,689,953$0$0$2,605,645
74$2,863,205$0$0$2,773,564
75$3,050,943$0$0$2,955,528
76$3,254,544$0$0$3,152,873
77$3,475,524$0$0$3,367,068
78$3,715,547$0$0$3,599,727
79$3,976,447$0$0$3,852,629
80$4,260,239$0$0$4,127,726
81$4,569,141$0$0$4,427,171
82$4,905,593$0$0$4,753,329
83$5,272,280$0$0$5,108,804
84$5,672,159$0$0$5,496,463
85$6,108,482$0$0$5,919,460
86$6,584,829$0$0$6,381,267
87$7,105,142$0$0$6,885,706
88$7,673,760$0$0$7,436,985
89$8,295,459$0$0$8,039,735
90$8,975,500$0$0$8,699,058
91$9,719,672$0$0$9,420,568
92$10,534,354$0$0$10,210,451
93$11,426,566$0$0$11,075,514
94$12,404,041$0$0$12,023,257
95$13,475,296$0$0$13,061,937
96$14,649,709$0$0$14,200,652
97$15,937,610$0$0$15,449,416
98$17,350,376$0$0$16,819,264
99$18,900,539$0$0$18,322,347
100$20,601,903$0$0$19,972,052