Can I retire at age 47 with 700,000?

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 $700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$57,805$57,290$56,788$56,298$55,819$53,753
2 years$28,617$28,084$27,567$27,066$26,580$24,522
3 years$18,888$18,353$17,838$17,342$16,864$14,878
4 years$14,025$13,491$12,981$12,494$12,027$10,130
5 years$11,108$10,577$10,074$9,596$9,143$7,338
6 years$9,164$8,637$8,141$7,674$7,235$5,523
7 years$7,776$7,254$6,765$6,309$5,884$4,266
8 years$6,735$6,218$5,738$5,293$4,881$3,355
9 years$5,926$5,414$4,942$4,508$4,111$2,675
10 years$5,279$4,772$4,308$3,886$3,502$2,154
11 years$4,750$4,248$3,793$3,382$3,012$1,748
12 years$4,310$3,813$3,366$2,967$2,610$1,428
13 years$3,938$3,446$3,008$2,619$2,276$1,172
14 years$3,619$3,132$2,702$2,325$1,995$965
15 years$3,343$2,861$2,440$2,073$1,757$798
16 years$3,101$2,625$2,212$1,857$1,553$661
17 years$2,889$2,418$2,013$1,668$1,377$549
18 years$2,700$2,234$1,837$1,503$1,224$457
19 years$2,531$2,070$1,682$1,358$1,091$380
20 years$2,379$1,924$1,544$1,230$975$317
21 years$2,242$1,792$1,420$1,117$872$265
22 years$2,117$1,673$1,309$1,015$782$221
23 years$2,004$1,565$1,208$925$702$185
24 years$1,900$1,466$1,118$843$631$155
25 years$1,805$1,376$1,035$770$568$129
26 years$1,717$1,293$960$704$511$108
27 years$1,635$1,217$891$645$461$91
28 years$1,560$1,147$829$591$416$76
29 years$1,490$1,082$771$542$376$64
30 years$1,425$1,021$718$497$339$53
31 years$1,364$966$670$456$307$45
32 years$1,307$914$625$419$278$38
33 years$1,254$865$583$386$251$31
34 years$1,203$820$545$355$227$26
35 years$1,156$778$510$327$206$22
36 years$1,112$738$477$301$187$19
37 years$1,070$701$446$277$169$16
38 years$1,030$666$418$256$153$13
39 years$993$634$391$236$139$11
40 years$957$603$367$217$126$9
41 years$923$574$344$201$114$8
42 years$891$547$323$185$104$6
43 years$861$521$303$171$94$5
44 years$832$496$284$158$86$5
45 years$804$473$267$146$78$4
46 years$778$452$251$135$70$3
47 years$753$431$236$124$64$3
48 years$728$411$221$115$58$2
49 years$705$393$208$106$53$2
50 years$683$375$196$98$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $700,000, adding $4,582 every year, while hoping to spend $56,228 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: 34/47/19 Blend
46$700,000$700,000$700,000$700,000
47$776,126$739,026$728,176$797,847
48$795,465$715,412$692,744$790,629
49$814,892$688,757$654,240$777,326
50$834,356$658,852$612,503$761,803
51$853,801$625,476$567,362$743,898
52$873,161$588,396$518,641$723,435
53$892,362$547,366$466,154$700,230
54$911,320$502,125$409,708$674,086
55$929,943$452,397$349,101$644,790
56$948,124$397,891$284,122$612,120
57$965,744$338,299$214,552$575,835
58$982,670$273,296$140,159$535,679
59$998,752$202,537$60,705$491,382
60$1,013,825$125,661$0$442,651
61$1,027,700$42,284$0$394,061
62$1,040,171$0$0$353,849
63$1,051,004$0$0$334,220
64$1,059,941$0$0$335,692
65$1,066,695$0$0$336,287
66$1,070,945$0$0$335,882
67$1,072,334$0$0$334,344
68$1,070,469$0$0$331,520
69$1,064,908$0$0$327,246
70$1,055,167$0$0$321,335
71$1,040,703$0$0$313,585
72$1,020,918$0$0$303,767
73$995,147$0$0$291,630
74$962,657$0$0$276,898
75$922,631$0$0$259,262
76$874,169$0$0$238,381
77$816,273$0$0$213,881
78$747,838$0$0$185,343
79$667,646$0$0$152,308
80$574,344$0$0$114,268
81$466,442$0$0$70,660
82$342,290$0$0$20,863
83$200,064$0$0$0
84$37,752$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