Can I retire at age 47 with 710,000?

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 $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%12.3%
1 years$58,631$58,109$57,599$57,102$56,616$56,072
2 years$29,025$28,485$27,961$27,453$26,960$26,412
3 years$19,158$18,615$18,093$17,589$17,105$16,569
4 years$14,225$13,684$13,167$12,672$12,199$11,681
5 years$11,266$10,728$10,218$9,733$9,274$8,774
6 years$9,295$8,761$8,258$7,784$7,338$6,857
7 years$7,887$7,357$6,862$6,400$5,968$5,507
8 years$6,831$6,306$5,820$5,368$4,951$4,509
9 years$6,011$5,491$5,012$4,573$4,169$3,747
10 years$5,355$4,840$4,370$3,942$3,552$3,149
11 years$4,818$4,309$3,847$3,430$3,055$2,671
12 years$4,372$3,867$3,414$3,009$2,648$2,281
13 years$3,994$3,495$3,050$2,656$2,309$1,960
14 years$3,670$3,177$2,741$2,358$2,024$1,693
15 years$3,390$2,902$2,475$2,103$1,782$1,468
16 years$3,146$2,663$2,244$1,883$1,575$1,278
17 years$2,930$2,452$2,042$1,692$1,396$1,115
18 years$2,738$2,266$1,864$1,525$1,242$976
19 years$2,567$2,100$1,706$1,378$1,107$855
20 years$2,413$1,951$1,566$1,248$989$752
21 years$2,274$1,818$1,440$1,132$885$661
22 years$2,148$1,697$1,327$1,030$793$583
23 years$2,033$1,587$1,226$938$712$514
24 years$1,927$1,487$1,133$855$640$454
25 years$1,830$1,395$1,050$781$576$402
26 years$1,741$1,311$974$714$519$355
27 years$1,659$1,234$904$654$468$315
28 years$1,582$1,163$841$599$422$279
29 years$1,511$1,097$782$549$381$247
30 years$1,445$1,036$729$504$344$219
31 years$1,383$979$679$463$311$195
32 years$1,326$927$634$425$281$173
33 years$1,272$878$592$391$255$153
34 years$1,221$832$553$360$231$136
35 years$1,173$789$517$331$209$121
36 years$1,128$749$484$305$189$108
37 years$1,085$711$453$281$172$96
38 years$1,045$676$424$259$156$85
39 years$1,007$643$397$239$141$76
40 years$971$612$372$220$128$67
41 years$936$582$349$203$116$60
42 years$904$554$327$188$105$53
43 years$873$528$307$173$96$47
44 years$844$503$288$160$87$42
45 years$816$480$271$148$79$37
46 years$789$458$254$136$72$33
47 years$763$437$239$126$65$30
48 years$739$417$225$117$59$26
49 years$716$398$211$108$54$24
50 years$693$381$198$100$49$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $710,000, adding $5,048 every year, while hoping to spend $41,646 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: 49/40/11 Blend
46$710,000$710,000$710,000$710,000
47$787,627$749,997$738,992$823,632
48$823,654$742,436$719,437$841,318
49$861,960$733,108$697,832$855,735
50$902,733$721,884$674,062$870,445
51$946,180$708,625$648,012$885,490
52$992,527$693,184$619,557$900,914
53$1,042,021$675,406$588,568$916,773
54$1,094,933$655,127$554,911$933,129
55$1,151,562$632,173$518,446$950,053
56$1,212,232$606,361$479,025$967,629
57$1,277,301$577,494$436,494$985,948
58$1,347,163$545,368$390,693$1,005,121
59$1,422,247$509,765$341,455$1,025,267
60$1,503,026$470,454$288,604$1,046,527
61$1,590,020$427,191$231,957$1,069,057
62$1,683,798$379,719$171,323$1,093,036
63$1,784,987$327,767$106,504$1,118,666
64$1,894,274$271,046$37,291$1,146,173
65$2,012,416$209,253$0$1,175,814
66$2,140,244$142,068$0$1,212,171
67$2,278,671$69,152$0$1,256,224
68$2,428,701$0$0$1,303,985
69$2,591,439$0$0$1,360,229
70$2,768,100$0$0$1,454,390
71$2,960,017$0$0$1,556,751
72$3,168,662$0$0$1,668,105
73$3,395,651$0$0$1,789,323
74$3,642,762$0$0$1,921,363
75$3,911,952$0$0$2,065,282
76$4,205,374$0$0$2,222,241
77$4,525,399$0$0$2,393,518
78$4,874,636$0$0$2,580,521
79$5,255,955$0$0$2,784,798
80$5,672,519$0$0$3,008,054
81$6,127,806$0$0$3,252,168
82$6,625,649$0$0$3,519,206
83$7,170,265$0$0$3,811,445
84$7,766,299$0$0$4,131,390
85$8,418,865$0$0$4,481,802
86$9,133,596$0$0$4,865,719
87$9,916,693$0$0$5,286,490
88$10,774,988$0$0$5,747,800
89$11,716,003$0$0$6,253,709
90$12,748,024$0$0$6,808,689
91$13,880,175$0$0$7,417,666
92$15,122,510$0$0$8,086,065
93$16,486,099$0$0$8,819,863
94$17,983,138$0$0$9,625,642
95$19,627,063$0$0$10,510,654
96$21,432,671$0$0$11,482,888
97$23,416,267$0$0$12,551,145
98$25,595,809$0$0$13,725,119
99$27,991,084$0$0$15,015,492
100$30,623,889$0$0$16,434,031