Can I retire at age 47 with 710,000?

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 $710,000?

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$58,631$58,109$57,599$57,102$56,616$55,136
2 years$29,025$28,485$27,961$27,453$26,960$25,479
3 years$19,158$18,615$18,093$17,589$17,105$15,669
4 years$14,225$13,684$13,167$12,672$12,199$10,819
5 years$11,266$10,728$10,218$9,733$9,274$7,954
6 years$9,295$8,761$8,258$7,784$7,338$6,080
7 years$7,887$7,357$6,862$6,400$5,968$4,771
8 years$6,831$6,306$5,820$5,368$4,951$3,815
9 years$6,011$5,491$5,012$4,573$4,169$3,094
10 years$5,355$4,840$4,370$3,942$3,552$2,536
11 years$4,818$4,309$3,847$3,430$3,055$2,096
12 years$4,372$3,867$3,414$3,009$2,648$1,743
13 years$3,994$3,495$3,050$2,656$2,309$1,458
14 years$3,670$3,177$2,741$2,358$2,024$1,225
15 years$3,390$2,902$2,475$2,103$1,782$1,033
16 years$3,146$2,663$2,244$1,883$1,575$873
17 years$2,930$2,452$2,042$1,692$1,396$740
18 years$2,738$2,266$1,864$1,525$1,242$629
19 years$2,567$2,100$1,706$1,378$1,107$535
20 years$2,413$1,951$1,566$1,248$989$456
21 years$2,274$1,818$1,440$1,132$885$389
22 years$2,148$1,697$1,327$1,030$793$332
23 years$2,033$1,587$1,226$938$712$284
24 years$1,927$1,487$1,133$855$640$243
25 years$1,830$1,395$1,050$781$576$208
26 years$1,741$1,311$974$714$519$178
27 years$1,659$1,234$904$654$468$152
28 years$1,582$1,163$841$599$422$131
29 years$1,511$1,097$782$549$381$112
30 years$1,445$1,036$729$504$344$96
31 years$1,383$979$679$463$311$82
32 years$1,326$927$634$425$281$71
33 years$1,272$878$592$391$255$61
34 years$1,221$832$553$360$231$52
35 years$1,173$789$517$331$209$45
36 years$1,128$749$484$305$189$38
37 years$1,085$711$453$281$172$33
38 years$1,045$676$424$259$156$28
39 years$1,007$643$397$239$141$24
40 years$971$612$372$220$128$21
41 years$936$582$349$203$116$18
42 years$904$554$327$188$105$15
43 years$873$528$307$173$96$13
44 years$844$503$288$160$87$11
45 years$816$480$271$148$79$10
46 years$789$458$254$136$72$8
47 years$763$437$239$126$65$7
48 years$739$417$225$117$59$6
49 years$716$398$211$108$54$5
50 years$693$381$198$100$49$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $710,000, adding $2,589 every year, while hoping to spend $50,557 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: 68/26/6 Blend
46$710,000$710,000$710,000$710,000
47$785,091$747,461$736,456$837,621
48$811,378$730,294$707,335$855,580
49$838,651$710,592$675,544$868,816
50$866,959$688,176$640,940$881,916
51$896,352$662,859$603,374$894,859
52$926,882$634,442$562,690$907,621
53$958,609$602,714$518,724$920,177
54$991,593$567,453$471,308$932,503
55$1,025,901$528,424$420,261$944,573
56$1,061,602$485,376$365,400$956,361
57$1,098,773$438,047$306,529$967,839
58$1,137,496$386,160$243,445$978,981
59$1,177,858$329,419$175,938$989,760
60$1,219,954$267,514$103,786$1,000,147
61$1,263,885$200,118$26,758$1,010,115
62$1,309,761$126,884$0$1,019,639
63$1,357,700$47,445$0$1,032,239
64$1,407,831$0$0$1,046,402
65$1,460,293$0$0$1,071,442
66$1,515,234$0$0$1,111,894
67$1,572,819$0$0$1,154,303
68$1,633,222$0$0$1,198,801
69$1,696,636$0$0$1,245,531
70$1,763,268$0$0$1,294,648
71$1,833,344$0$0$1,346,320
72$1,907,110$0$0$1,400,731
73$1,984,833$0$0$1,458,079
74$2,066,805$0$0$1,518,583
75$2,153,343$0$0$1,582,480
76$2,244,792$0$0$1,650,028
77$2,341,532$0$0$1,721,508
78$2,443,974$0$0$1,797,230
79$2,552,568$0$0$1,877,530
80$2,667,807$0$0$1,962,775
81$2,790,230$0$0$2,053,367
82$2,920,424$0$0$2,149,748
83$3,059,034$0$0$2,252,397
84$3,206,765$0$0$2,361,843
85$3,364,389$0$0$2,478,664
86$3,532,753$0$0$2,603,491
87$3,712,784$0$0$2,737,019
88$3,905,498$0$0$2,880,008
89$4,112,011$0$0$3,033,291
90$4,333,544$0$0$3,197,785
91$4,571,440$0$0$3,374,492
92$4,827,172$0$0$3,564,516
93$5,102,356$0$0$3,769,065
94$5,398,767$0$0$3,989,469
95$5,718,355$0$0$4,227,187
96$6,063,262$0$0$4,483,822
97$6,435,841$0$0$4,761,136
98$6,838,678$0$0$5,061,065
99$7,274,615$0$0$5,385,736
100$7,746,778$0$0$5,737,491