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%16.4%
1 years$57,805$57,290$56,788$56,298$55,819$54,359
2 years$28,617$28,084$27,567$27,066$26,580$25,120
3 years$18,888$18,353$17,838$17,342$16,864$15,448
4 years$14,025$13,491$12,981$12,494$12,027$10,667
5 years$11,108$10,577$10,074$9,596$9,143$7,842
6 years$9,164$8,637$8,141$7,674$7,235$5,994
7 years$7,776$7,254$6,765$6,309$5,884$4,704
8 years$6,735$6,218$5,738$5,293$4,881$3,762
9 years$5,926$5,414$4,942$4,508$4,111$3,050
10 years$5,279$4,772$4,308$3,886$3,502$2,500
11 years$4,750$4,248$3,793$3,382$3,012$2,066
12 years$4,310$3,813$3,366$2,967$2,610$1,719
13 years$3,938$3,446$3,008$2,619$2,276$1,438
14 years$3,619$3,132$2,702$2,325$1,995$1,208
15 years$3,343$2,861$2,440$2,073$1,757$1,018
16 years$3,101$2,625$2,212$1,857$1,553$861
17 years$2,889$2,418$2,013$1,668$1,377$730
18 years$2,700$2,234$1,837$1,503$1,224$620
19 years$2,531$2,070$1,682$1,358$1,091$527
20 years$2,379$1,924$1,544$1,230$975$449
21 years$2,242$1,792$1,420$1,117$872$383
22 years$2,117$1,673$1,309$1,015$782$327
23 years$2,004$1,565$1,208$925$702$280
24 years$1,900$1,466$1,118$843$631$239
25 years$1,805$1,376$1,035$770$568$205
26 years$1,717$1,293$960$704$511$175
27 years$1,635$1,217$891$645$461$150
28 years$1,560$1,147$829$591$416$129
29 years$1,490$1,082$771$542$376$110
30 years$1,425$1,021$718$497$339$95
31 years$1,364$966$670$456$307$81
32 years$1,307$914$625$419$278$70
33 years$1,254$865$583$386$251$60
34 years$1,203$820$545$355$227$51
35 years$1,156$778$510$327$206$44
36 years$1,112$738$477$301$187$38
37 years$1,070$701$446$277$169$32
38 years$1,030$666$418$256$153$28
39 years$993$634$391$236$139$24
40 years$957$603$367$217$126$21
41 years$923$574$344$201$114$18
42 years$891$547$323$185$104$15
43 years$861$521$303$171$94$13
44 years$832$496$284$158$86$11
45 years$804$473$267$146$78$10
46 years$778$452$251$135$70$8
47 years$753$431$236$124$64$7
48 years$728$411$221$115$58$6
49 years$705$393$208$106$53$5
50 years$683$375$196$98$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $700,000, adding $2,026 every year, while hoping to spend $47,308 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: 53/27/20 Blend
46$700,000$700,000$700,000$700,000
47$773,490$736,390$725,540$810,147
48$802,050$722,138$699,510$821,290
49$831,939$705,601$671,023$828,292
50$863,240$686,619$639,946$834,895
51$896,047$665,020$606,140$841,076
52$930,460$640,623$569,462$846,812
53$966,589$613,235$529,761$852,083
54$1,004,550$582,653$486,878$856,866
55$1,044,475$548,663$440,648$861,143
56$1,086,501$511,038$390,900$864,895
57$1,130,782$469,536$337,453$868,106
58$1,177,484$423,906$280,119$870,763
59$1,226,787$373,877$218,703$872,855
60$1,278,889$319,166$152,999$874,374
61$1,334,005$259,474$82,794$875,317
62$1,392,369$194,485$7,864$875,686
63$1,454,239$123,863$0$875,488
64$1,519,896$47,256$0$890,123
65$1,589,644$0$0$907,016
66$1,663,821$0$0$935,182
67$1,742,793$0$0$980,154
68$1,826,962$0$0$1,028,125
69$1,916,768$0$0$1,079,351
70$2,012,692$0$0$1,134,112
71$2,115,265$0$0$1,192,715
72$2,225,063$0$0$1,255,498
73$2,342,724$0$0$1,322,831
74$2,468,943$0$0$1,395,118
75$2,604,485$0$0$1,472,806
76$2,750,190$0$0$1,556,382
77$2,906,977$0$0$1,646,384
78$3,075,860$0$0$1,743,401
79$3,257,948$0$0$1,848,079
80$3,454,462$0$0$1,961,130
81$3,666,743$0$0$2,083,336
82$3,896,265$0$0$2,215,555
83$4,144,646$0$0$2,358,731
84$4,413,668$0$0$2,513,903
85$4,705,287$0$0$2,682,212
86$5,021,656$0$0$2,864,913
87$5,365,142$0$0$3,063,387
88$5,738,349$0$0$3,279,151
89$6,144,142$0$0$3,513,878
90$6,585,670$0$0$3,769,405
91$7,066,401$0$0$4,047,754
92$7,590,150$0$0$4,351,153
93$8,161,114$0$0$4,682,049
94$8,783,916$0$0$5,043,140
95$9,463,640$0$0$5,437,393
96$10,205,884$0$0$5,868,075
97$11,016,812$0$0$6,338,783
98$11,903,206$0$0$6,853,476
99$12,872,538$0$0$7,416,514
100$13,933,030$0$0$8,032,698