Can I retire at age 47 with 690,000?

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 $690,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$56,980$56,472$55,977$55,494$55,022$53,432
2 years$28,208$27,682$27,173$26,680$26,201$24,612
3 years$18,618$18,091$17,583$17,094$16,623$15,084
4 years$13,825$13,299$12,796$12,315$11,856$10,379
5 years$10,949$10,426$9,930$9,459$9,012$7,602
6 years$9,033$8,514$8,025$7,565$7,131$5,789
7 years$7,664$7,150$6,669$6,219$5,800$4,525
8 years$6,639$6,129$5,656$5,217$4,811$3,604
9 years$5,841$5,336$4,871$4,444$4,052$2,910
10 years$5,204$4,704$4,247$3,831$3,452$2,374
11 years$4,682$4,187$3,739$3,334$2,969$1,954
12 years$4,248$3,758$3,318$2,924$2,573$1,618
13 years$3,881$3,396$2,965$2,582$2,244$1,347
14 years$3,567$3,087$2,664$2,292$1,967$1,126
15 years$3,295$2,820$2,405$2,044$1,732$944
16 years$3,057$2,588$2,180$1,830$1,531$795
17 years$2,847$2,383$1,984$1,644$1,357$670
18 years$2,661$2,202$1,811$1,482$1,207$566
19 years$2,495$2,041$1,658$1,339$1,075$479
20 years$2,345$1,896$1,522$1,213$961$406
21 years$2,210$1,766$1,400$1,101$860$344
22 years$2,087$1,649$1,290$1,001$771$293
23 years$1,975$1,542$1,191$911$692$249
24 years$1,873$1,445$1,102$831$622$212
25 years$1,779$1,356$1,020$759$559$180
26 years$1,692$1,274$946$694$504$153
27 years$1,612$1,199$879$635$454$131
28 years$1,538$1,130$817$582$410$111
29 years$1,469$1,066$760$534$370$95
30 years$1,405$1,007$708$490$334$81
31 years$1,345$952$660$450$302$69
32 years$1,288$901$616$413$274$59
33 years$1,236$853$575$380$248$50
34 years$1,186$808$537$350$224$43
35 years$1,140$767$502$322$203$37
36 years$1,096$728$470$297$184$31
37 years$1,055$691$440$273$167$27
38 years$1,015$657$412$252$151$23
39 years$978$625$386$232$137$19
40 years$943$594$362$214$124$17
41 years$910$566$339$198$113$14
42 years$878$539$318$182$102$12
43 years$848$513$299$168$93$10
44 years$820$489$280$155$84$9
45 years$793$467$263$144$77$8
46 years$767$445$247$133$69$6
47 years$742$425$232$123$63$5
48 years$718$406$218$113$57$5
49 years$695$387$205$105$52$4
50 years$674$370$193$97$47$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $690,000, adding $5,916 every year, while hoping to spend $56,215 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: 46/34/20 Blend
46$690,000$690,000$690,000$690,000
47$766,482$729,912$719,217$797,109
48$784,851$705,866$683,499$795,094
49$803,210$678,757$644,700$786,844
50$821,497$648,376$602,657$776,725
51$839,645$614,502$557,202$764,588
52$857,577$576,900$508,156$750,275
53$875,205$535,323$455,334$733,613
54$892,430$489,509$398,542$714,421
55$909,143$439,180$337,578$692,501
56$925,220$384,044$272,231$667,643
57$940,522$323,791$202,281$639,621
58$954,894$258,096$127,496$608,193
59$968,163$186,613$47,637$573,098
60$980,135$108,976$0$534,056
61$990,595$24,802$0$498,787
62$999,302$0$0$470,318
63$1,005,989$0$0$462,994
64$1,010,358$0$0$463,729
65$1,012,077$0$0$463,075
66$1,010,780$0$0$460,843
67$1,006,058$0$0$456,826
68$997,458$0$0$450,792
69$984,477$0$0$442,484
70$966,559$0$0$431,619
71$943,085$0$0$417,882
72$913,372$0$0$400,924
73$876,662$0$0$380,359
74$832,117$0$0$355,761
75$778,808$0$0$326,657
76$715,709$0$0$292,525
77$641,683$0$0$252,786
78$555,476$0$0$206,802
79$455,699$0$0$153,867
80$340,816$0$0$93,201
81$209,133$0$0$23,942
82$58,775$0$0$0
83$0$0$0$0
84$0$0$0$0
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$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