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%11.6%
1 years$58,631$58,109$57,599$57,102$56,616$56,236
2 years$29,025$28,485$27,961$27,453$26,960$26,577
3 years$19,158$18,615$18,093$17,589$17,105$16,730
4 years$14,225$13,684$13,167$12,672$12,199$11,836
5 years$11,266$10,728$10,218$9,733$9,274$8,923
6 years$9,295$8,761$8,258$7,784$7,338$7,000
7 years$7,887$7,357$6,862$6,400$5,968$5,643
8 years$6,831$6,306$5,820$5,368$4,951$4,639
9 years$6,011$5,491$5,012$4,573$4,169$3,871
10 years$5,355$4,840$4,370$3,942$3,552$3,267
11 years$4,818$4,309$3,847$3,430$3,055$2,783
12 years$4,372$3,867$3,414$3,009$2,648$2,388
13 years$3,994$3,495$3,050$2,656$2,309$2,061
14 years$3,670$3,177$2,741$2,358$2,024$1,788
15 years$3,390$2,902$2,475$2,103$1,782$1,558
16 years$3,146$2,663$2,244$1,883$1,575$1,362
17 years$2,930$2,452$2,042$1,692$1,396$1,195
18 years$2,738$2,266$1,864$1,525$1,242$1,050
19 years$2,567$2,100$1,706$1,378$1,107$926
20 years$2,413$1,951$1,566$1,248$989$817
21 years$2,274$1,818$1,440$1,132$885$723
22 years$2,148$1,697$1,327$1,030$793$641
23 years$2,033$1,587$1,226$938$712$568
24 years$1,927$1,487$1,133$855$640$505
25 years$1,830$1,395$1,050$781$576$448
26 years$1,741$1,311$974$714$519$399
27 years$1,659$1,234$904$654$468$355
28 years$1,582$1,163$841$599$422$317
29 years$1,511$1,097$782$549$381$282
30 years$1,445$1,036$729$504$344$252
31 years$1,383$979$679$463$311$225
32 years$1,326$927$634$425$281$201
33 years$1,272$878$592$391$255$179
34 years$1,221$832$553$360$231$160
35 years$1,173$789$517$331$209$143
36 years$1,128$749$484$305$189$128
37 years$1,085$711$453$281$172$114
38 years$1,045$676$424$259$156$102
39 years$1,007$643$397$239$141$92
40 years$971$612$372$220$128$82
41 years$936$582$349$203$116$73
42 years$904$554$327$188$105$66
43 years$873$528$307$173$96$59
44 years$844$503$288$160$87$53
45 years$816$480$271$148$79$47
46 years$789$458$254$136$72$42
47 years$763$437$239$126$65$38
48 years$739$417$225$117$59$34
49 years$716$398$211$108$54$30
50 years$693$381$198$100$49$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $710,000, adding $3,011 every year, while hoping to spend $30,602 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: 59/26/15 Blend
46$710,000$710,000$710,000$710,000
47$785,526$747,896$736,891$828,709
48$833,089$751,982$729,016$862,307
49$884,478$755,244$719,853$895,268
50$940,051$757,607$709,324$930,495
51$1,000,201$758,994$697,351$968,211
52$1,065,361$759,324$683,851$1,008,662
53$1,136,006$758,509$668,738$1,052,119
54$1,212,659$756,456$651,921$1,098,883
55$1,295,895$753,068$633,306$1,149,288
56$1,386,347$748,239$612,792$1,203,700
57$1,484,710$741,858$590,277$1,262,526
58$1,591,751$733,810$565,651$1,326,215
59$1,708,311$723,968$538,802$1,395,262
60$1,835,318$712,201$509,611$1,470,218
61$1,973,791$698,370$477,954$1,551,686
62$2,124,854$682,326$443,701$1,640,338
63$2,289,742$663,913$406,718$1,736,913
64$2,469,815$642,964$366,862$1,842,228
65$2,666,571$619,304$323,987$1,957,186
66$2,881,658$592,747$277,938$2,082,785
67$3,116,892$563,096$228,553$2,220,126
68$3,374,271$530,144$175,666$2,370,426
69$3,655,995$493,669$119,099$2,535,029
70$3,964,488$453,441$58,670$2,715,418
71$4,302,418$409,211$0$2,913,232
72$4,672,723$360,722$0$3,131,211
73$5,078,641$307,697$0$3,380,503
74$5,523,735$249,848$0$3,653,945
75$6,011,932$186,866$0$3,954,006
76$6,547,556$118,429$0$4,283,409
77$7,135,368$44,194$0$4,645,158
78$7,780,617$0$0$5,042,565
79$8,489,080$0$0$5,489,639
80$9,267,124$0$0$5,994,570
81$10,121,761$0$0$6,549,270
82$11,060,717$0$0$7,158,762
83$12,092,503$0$0$7,828,578
84$13,226,493$0$0$8,564,814
85$14,473,019$0$0$9,374,184
86$15,843,459$0$0$10,264,086
87$17,350,350$0$0$11,242,671
88$19,007,507$0$0$12,318,918
89$20,830,147$0$0$13,502,722
90$22,835,039$0$0$14,804,983
91$25,040,657$0$0$16,237,712
92$27,467,355$0$0$17,814,141
93$30,137,563$0$0$19,548,852
94$33,075,990$0$0$21,457,910
95$36,309,865$0$0$23,559,017
96$39,869,190$0$0$25,871,677
97$43,787,020$0$0$28,417,382
98$48,099,782$0$0$31,219,814
99$52,847,609$0$0$34,305,064
100$58,074,727$0$0$37,701,887