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%17.6%
1 years$56,980$56,472$55,977$55,494$55,022$53,324
2 years$28,208$27,682$27,173$26,680$26,201$24,506
3 years$18,618$18,091$17,583$17,094$16,623$14,983
4 years$13,825$13,299$12,796$12,315$11,856$10,284
5 years$10,949$10,426$9,930$9,459$9,012$7,513
6 years$9,033$8,514$8,025$7,565$7,131$5,705
7 years$7,664$7,150$6,669$6,219$5,800$4,447
8 years$6,639$6,129$5,656$5,217$4,811$3,531
9 years$5,841$5,336$4,871$4,444$4,052$2,842
10 years$5,204$4,704$4,247$3,831$3,452$2,312
11 years$4,682$4,187$3,739$3,334$2,969$1,896
12 years$4,248$3,758$3,318$2,924$2,573$1,565
13 years$3,881$3,396$2,965$2,582$2,244$1,298
14 years$3,567$3,087$2,664$2,292$1,967$1,082
15 years$3,295$2,820$2,405$2,044$1,732$904
16 years$3,057$2,588$2,180$1,830$1,531$758
17 years$2,847$2,383$1,984$1,644$1,357$637
18 years$2,661$2,202$1,811$1,482$1,207$536
19 years$2,495$2,041$1,658$1,339$1,075$452
20 years$2,345$1,896$1,522$1,213$961$382
21 years$2,210$1,766$1,400$1,101$860$323
22 years$2,087$1,649$1,290$1,001$771$273
23 years$1,975$1,542$1,191$911$692$231
24 years$1,873$1,445$1,102$831$622$196
25 years$1,779$1,356$1,020$759$559$166
26 years$1,692$1,274$946$694$504$141
27 years$1,612$1,199$879$635$454$119
28 years$1,538$1,130$817$582$410$101
29 years$1,469$1,066$760$534$370$86
30 years$1,405$1,007$708$490$334$73
31 years$1,345$952$660$450$302$62
32 years$1,288$901$616$413$274$53
33 years$1,236$853$575$380$248$45
34 years$1,186$808$537$350$224$38
35 years$1,140$767$502$322$203$32
36 years$1,096$728$470$297$184$27
37 years$1,055$691$440$273$167$23
38 years$1,015$657$412$252$151$20
39 years$978$625$386$232$137$17
40 years$943$594$362$214$124$14
41 years$910$566$339$198$113$12
42 years$878$539$318$182$102$10
43 years$848$513$299$168$93$9
44 years$820$489$280$155$84$7
45 years$793$467$263$144$77$6
46 years$767$445$247$133$69$5
47 years$742$425$232$123$63$5
48 years$718$406$218$113$57$4
49 years$695$387$205$105$52$3
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 $5,428 every year, while hoping to spend $48,135 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: 43/50/7 Blend
46$690,000$690,000$690,000$690,000
47$765,979$729,409$718,714$797,141
48$792,894$713,935$691,576$803,833
49$820,940$696,089$661,915$805,731
50$850,183$675,705$629,596$806,676
51$880,693$652,605$594,479$806,598
52$912,544$626,603$556,414$805,425
53$945,817$597,500$515,248$803,078
54$980,601$565,088$470,819$799,479
55$1,016,989$529,144$422,958$794,544
56$1,055,084$489,434$371,489$788,187
57$1,094,997$445,711$316,229$780,316
58$1,136,849$397,713$256,984$770,837
59$1,180,769$345,163$193,555$759,654
60$1,226,901$287,769$125,732$746,664
61$1,275,397$225,222$53,297$731,764
62$1,326,425$157,196$0$714,844
63$1,380,168$83,346$0$697,588
64$1,436,824$3,308$0$682,450
65$1,496,608$0$0$665,349
66$1,559,758$0$0$692,015
67$1,626,529$0$0$722,172
68$1,697,203$0$0$754,131
69$1,772,085$0$0$788,036
70$1,851,511$0$0$824,045
71$1,935,847$0$0$862,329
72$2,025,493$0$0$903,077
73$2,120,887$0$0$946,493
74$2,222,508$0$0$992,804
75$2,330,881$0$0$1,042,257
76$2,446,581$0$0$1,095,121
77$2,570,238$0$0$1,151,695
78$2,702,542$0$0$1,212,302
79$2,844,250$0$0$1,277,299
80$2,996,193$0$0$1,347,079
81$3,159,282$0$0$1,422,070
82$3,334,517$0$0$1,502,745
83$3,522,994$0$0$1,589,621
84$3,725,920$0$0$1,683,266
85$3,944,616$0$0$1,784,305
86$4,180,538$0$0$1,893,424
87$4,435,281$0$0$2,011,379
88$4,710,600$0$0$2,138,996
89$5,008,423$0$0$2,277,188
90$5,330,871$0$0$2,426,956
91$5,680,273$0$0$2,589,401
92$6,059,193$0$0$2,765,735
93$6,470,448$0$0$2,957,289
94$6,917,137$0$0$3,165,530
95$7,402,669$0$0$3,392,070
96$7,930,795$0$0$3,638,681
97$8,505,641$0$0$3,907,317
98$9,131,748$0$0$4,200,124
99$9,814,111$0$0$4,519,466
100$10,558,230$0$0$4,867,946