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%12.7%
1 years$58,631$58,109$57,599$57,102$56,616$55,979
2 years$29,025$28,485$27,961$27,453$26,960$26,318
3 years$19,158$18,615$18,093$17,589$17,105$16,478
4 years$14,225$13,684$13,167$12,672$12,199$11,593
5 years$11,266$10,728$10,218$9,733$9,274$8,690
6 years$9,295$8,761$8,258$7,784$7,338$6,777
7 years$7,887$7,357$6,862$6,400$5,968$5,430
8 years$6,831$6,306$5,820$5,368$4,951$4,436
9 years$6,011$5,491$5,012$4,573$4,169$3,678
10 years$5,355$4,840$4,370$3,942$3,552$3,084
11 years$4,818$4,309$3,847$3,430$3,055$2,609
12 years$4,372$3,867$3,414$3,009$2,648$2,223
13 years$3,994$3,495$3,050$2,656$2,309$1,905
14 years$3,670$3,177$2,741$2,358$2,024$1,641
15 years$3,390$2,902$2,475$2,103$1,782$1,419
16 years$3,146$2,663$2,244$1,883$1,575$1,231
17 years$2,930$2,452$2,042$1,692$1,396$1,072
18 years$2,738$2,266$1,864$1,525$1,242$935
19 years$2,567$2,100$1,706$1,378$1,107$818
20 years$2,413$1,951$1,566$1,248$989$716
21 years$2,274$1,818$1,440$1,132$885$628
22 years$2,148$1,697$1,327$1,030$793$552
23 years$2,033$1,587$1,226$938$712$486
24 years$1,927$1,487$1,133$855$640$428
25 years$1,830$1,395$1,050$781$576$377
26 years$1,741$1,311$974$714$519$332
27 years$1,659$1,234$904$654$468$293
28 years$1,582$1,163$841$599$422$259
29 years$1,511$1,097$782$549$381$229
30 years$1,445$1,036$729$504$344$202
31 years$1,383$979$679$463$311$179
32 years$1,326$927$634$425$281$158
33 years$1,272$878$592$391$255$140
34 years$1,221$832$553$360$231$124
35 years$1,173$789$517$331$209$110
36 years$1,128$749$484$305$189$97
37 years$1,085$711$453$281$172$86
38 years$1,045$676$424$259$156$76
39 years$1,007$643$397$239$141$68
40 years$971$612$372$220$128$60
41 years$936$582$349$203$116$53
42 years$904$554$327$188$105$47
43 years$873$528$307$173$96$42
44 years$844$503$288$160$87$37
45 years$816$480$271$148$79$33
46 years$789$458$254$136$72$29
47 years$763$437$239$126$65$26
48 years$739$417$225$117$59$23
49 years$716$398$211$108$54$20
50 years$693$381$198$100$49$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $710,000, adding $3,960 every year, while hoping to spend $52,836 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: 42/38/20 Blend
46$710,000$710,000$710,000$710,000
47$786,505$748,875$737,870$814,782
48$810,511$729,353$706,371$815,710
49$835,195$707,103$672,047$811,292
50$860,571$681,936$634,746$805,419
51$886,650$653,653$594,311$797,986
52$913,446$622,039$550,578$788,879
53$940,971$586,872$503,376$777,980
54$969,235$547,914$452,524$765,162
55$998,249$504,914$397,836$750,292
56$1,028,023$457,607$339,115$733,227
57$1,058,563$405,712$276,158$713,818
58$1,089,878$348,933$208,751$691,905
59$1,121,972$286,958$136,670$667,320
60$1,154,850$219,455$59,685$639,886
61$1,188,511$146,074$0$609,413
62$1,222,955$66,448$0$580,497
63$1,258,179$0$0$562,036
64$1,294,177$0$0$549,397
65$1,330,937$0$0$564,849
66$1,368,447$0$0$580,598
67$1,406,687$0$0$596,635
68$1,445,637$0$0$612,948
69$1,485,266$0$0$629,521
70$1,525,541$0$0$646,337
71$1,566,420$0$0$663,376
72$1,607,856$0$0$680,613
73$1,649,790$0$0$698,019
74$1,692,156$0$0$715,562
75$1,734,877$0$0$733,205
76$1,777,865$0$0$750,904
77$1,821,017$0$0$768,610
78$1,864,218$0$0$786,266
79$1,907,335$0$0$803,811
80$1,950,219$0$0$821,171
81$1,992,700$0$0$838,267
82$2,034,585$0$0$855,006
83$2,075,660$0$0$871,287
84$2,115,681$0$0$886,993
85$2,154,376$0$0$901,998
86$2,191,439$0$0$916,155
87$2,226,527$0$0$929,305
88$2,259,259$0$0$941,266
89$2,289,207$0$0$951,838
90$2,315,894$0$0$960,797
91$2,338,789$0$0$967,894
92$2,357,298$0$0$972,852
93$2,370,765$0$0$975,361
94$2,378,455$0$0$975,080
95$2,379,554$0$0$971,627
96$2,373,159$0$0$964,581
97$2,358,264$0$0$953,472
98$2,333,755$0$0$937,780
99$2,298,398$0$0$916,931
100$2,250,822$0$0$890,285