Can I retire at age 47 with 680,000?

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 $680,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$56,154$55,654$55,166$54,689$54,224$52,870
2 years$27,799$27,281$26,779$26,293$25,821$24,466
3 years$18,349$17,829$17,328$16,846$16,382$15,067
4 years$13,624$13,106$12,610$12,137$11,684$10,420
5 years$10,790$10,275$9,786$9,322$8,882$7,673
6 years$8,902$8,390$7,909$7,455$7,028$5,874
7 years$7,553$7,046$6,572$6,129$5,716$4,618
8 years$6,542$6,040$5,574$5,142$4,742$3,699
9 years$5,757$5,259$4,801$4,379$3,993$3,005
10 years$5,128$4,635$4,185$3,775$3,402$2,468
11 years$4,615$4,127$3,685$3,286$2,926$2,043
12 years$4,187$3,704$3,270$2,882$2,536$1,703
13 years$3,825$3,347$2,922$2,544$2,211$1,427
14 years$3,515$3,043$2,625$2,258$1,938$1,202
15 years$3,247$2,779$2,370$2,014$1,707$1,015
16 years$3,013$2,550$2,149$1,803$1,508$860
17 years$2,806$2,348$1,955$1,620$1,337$731
18 years$2,622$2,170$1,785$1,460$1,189$622
19 years$2,459$2,011$1,634$1,320$1,060$530
20 years$2,311$1,869$1,500$1,195$947$453
21 years$2,178$1,741$1,379$1,085$847$387
22 years$2,057$1,625$1,271$986$759$331
23 years$1,947$1,520$1,174$898$682$284
24 years$1,846$1,424$1,086$819$613$243
25 years$1,753$1,336$1,005$748$551$209
26 years$1,668$1,256$933$684$497$179
27 years$1,589$1,182$866$626$448$154
28 years$1,516$1,114$805$574$404$132
29 years$1,448$1,051$749$526$365$114
30 years$1,384$992$698$483$330$98
31 years$1,325$938$651$443$298$84
32 years$1,270$888$607$407$270$72
33 years$1,218$841$567$375$244$62
34 years$1,169$797$530$345$221$54
35 years$1,123$756$495$317$200$46
36 years$1,080$717$463$292$181$40
37 years$1,039$681$433$269$164$34
38 years$1,001$647$406$248$149$29
39 years$964$616$380$229$135$25
40 years$930$586$356$211$123$22
41 years$897$558$334$195$111$19
42 years$866$531$314$180$101$16
43 years$836$506$294$166$92$14
44 years$808$482$276$153$83$12
45 years$781$460$259$141$75$10
46 years$755$439$244$131$68$9
47 years$731$419$229$121$62$8
48 years$708$400$215$112$56$7
49 years$685$382$202$103$51$6
50 years$664$365$190$95$47$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $680,000, adding $4,774 every year, while hoping to spend $30,523 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: 40/35/25 Blend
46$680,000$680,000$680,000$680,000
47$754,284$718,244$707,704$778,718
48$798,745$720,962$698,936$799,530
49$846,718$722,790$688,851$818,809
50$898,529$723,652$677,373$839,069
51$954,536$723,468$664,423$860,415
52$1,015,133$722,153$649,915$882,969
53$1,080,752$719,614$633,763$906,866
54$1,151,871$715,757$615,876$932,256
55$1,229,011$710,478$596,157$959,309
56$1,312,748$703,670$574,507$988,211
57$1,403,716$695,217$550,820$1,019,173
58$1,502,610$684,998$524,987$1,052,428
59$1,610,196$672,883$496,894$1,088,238
60$1,727,317$658,735$466,421$1,126,892
61$1,854,900$642,409$433,443$1,168,715
62$1,993,965$623,753$397,829$1,214,065
63$2,145,636$602,604$359,443$1,263,343
64$2,311,149$578,789$318,142$1,316,994
65$2,491,863$552,127$273,777$1,375,513
66$2,689,277$522,425$226,192$1,439,448
67$2,905,039$489,480$175,226$1,509,411
68$3,140,966$453,076$120,708$1,586,078
69$3,399,054$412,987$62,461$1,670,201
70$3,681,505$368,971$302$1,762,615
71$3,990,742$320,774$0$1,864,244
72$4,329,434$268,128$0$1,993,728
73$4,700,519$210,749$0$2,135,822
74$5,107,233$148,337$0$2,291,761
75$5,553,141$80,575$0$2,462,998
76$6,042,168$7,130$0$2,651,142
77$6,578,637$0$0$2,857,968
78$7,167,312$0$0$3,113,303
79$7,813,438$0$0$3,396,665
80$8,522,794$0$0$3,707,853
81$9,301,743$0$0$4,049,670
82$10,157,299$0$0$4,425,207
83$11,097,184$0$0$4,837,867
84$12,129,909$0$0$5,291,398
85$13,264,848$0$0$5,789,932
86$14,512,328$0$0$6,338,019
87$15,883,726$0$0$6,940,672
88$17,391,577$0$0$7,603,416
89$19,049,693$0$0$8,332,335
90$20,873,287$0$0$9,134,135
91$22,879,125$0$0$10,016,204
92$25,085,676$0$0$10,986,681
93$27,513,292$0$0$12,054,535
94$30,184,393$0$0$13,229,647
95$33,123,687$0$0$14,522,905
96$36,358,394$0$0$15,946,306
97$39,918,507$0$0$17,513,069
98$43,837,077$0$0$19,237,760
99$48,150,517$0$0$21,136,427
100$52,898,953$0$0$23,226,755