Can I retire at age 47 with 720,000?

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 $720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$59,457$58,927$58,411$57,906$57,414$55,267
2 years$29,434$28,886$28,355$27,840$27,340$25,201
3 years$19,428$18,877$18,347$17,837$17,346$15,283
4 years$14,426$13,877$13,352$12,851$12,371$10,400
5 years$11,425$10,880$10,362$9,870$9,404$7,530
6 years$9,425$8,884$8,374$7,894$7,441$5,665
7 years$7,998$7,461$6,959$6,490$6,052$4,373
8 years$6,927$6,395$5,902$5,444$5,020$3,437
9 years$6,095$5,568$5,083$4,637$4,228$2,738
10 years$5,430$4,908$4,431$3,997$3,602$2,204
11 years$4,886$4,369$3,901$3,479$3,098$1,788
12 years$4,433$3,922$3,462$3,051$2,685$1,459
13 years$4,050$3,544$3,093$2,694$2,341$1,196
14 years$3,722$3,221$2,779$2,391$2,052$985
15 years$3,438$2,943$2,509$2,133$1,807$813
16 years$3,190$2,700$2,275$1,910$1,597$674
17 years$2,971$2,487$2,070$1,716$1,416$559
18 years$2,777$2,298$1,890$1,546$1,259$465
19 years$2,603$2,130$1,730$1,397$1,122$387
20 years$2,447$1,979$1,588$1,265$1,002$322
21 years$2,306$1,843$1,461$1,148$897$269
22 years$2,178$1,721$1,346$1,044$804$224
23 years$2,061$1,609$1,243$951$722$187
24 years$1,954$1,508$1,149$867$649$157
25 years$1,856$1,415$1,065$792$584$131
26 years$1,766$1,330$987$724$526$110
27 years$1,682$1,252$917$663$474$92
28 years$1,605$1,179$852$607$428$77
29 years$1,533$1,113$793$557$386$64
30 years$1,466$1,051$739$511$349$54
31 years$1,403$993$689$469$316$45
32 years$1,344$940$643$431$285$38
33 years$1,289$890$600$397$258$32
34 years$1,238$844$561$365$234$27
35 years$1,189$800$524$336$212$22
36 years$1,144$759$490$309$192$19
37 years$1,100$721$459$285$174$16
38 years$1,060$685$430$263$158$13
39 years$1,021$652$403$242$143$11
40 years$984$620$377$224$130$9
41 years$950$590$354$206$118$8
42 years$917$562$332$190$107$6
43 years$885$536$312$176$97$5
44 years$855$511$292$162$88$5
45 years$827$487$275$150$80$4
46 years$800$464$258$138$73$3
47 years$774$443$242$128$66$3
48 years$749$423$228$118$60$2
49 years$726$404$214$109$54$2
50 years$703$386$201$101$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $720,000, adding $2,669 every year, while hoping to spend $49,537 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: 58/29/13 Blend
46$720,000$720,000$720,000$720,000
47$796,193$758,033$746,873$839,628
48$824,698$742,470$719,186$853,703
49$854,450$724,483$688,912$863,310
50$885,524$703,903$655,911$872,609
51$918,001$680,548$620,037$881,580
52$951,968$654,227$581,140$890,199
53$987,521$624,736$539,060$898,444
54$1,024,761$591,861$493,632$906,293
55$1,063,801$555,375$444,682$913,725
56$1,104,759$515,039$392,029$920,719
57$1,147,767$470,599$335,485$927,257
58$1,192,967$421,786$274,851$933,322
59$1,240,513$368,318$209,923$938,899
60$1,290,574$309,894$140,484$943,975
61$1,343,333$246,198$66,310$948,541
62$1,398,988$176,897$0$952,591
63$1,457,756$101,637$0$957,906
64$1,519,876$20,046$0$972,639
65$1,585,605$0$0$987,629
66$1,655,225$0$0$1,024,716
67$1,729,044$0$0$1,070,852
68$1,807,401$0$0$1,119,854
69$1,890,663$0$0$1,171,957
70$1,979,233$0$0$1,227,419
71$2,073,552$0$0$1,286,519
72$2,174,104$0$0$1,349,565
73$2,281,417$0$0$1,416,894
74$2,396,070$0$0$1,488,875
75$2,518,700$0$0$1,565,913
76$2,650,003$0$0$1,648,453
77$2,790,742$0$0$1,736,980
78$2,941,755$0$0$1,832,028
79$3,103,961$0$0$1,934,185
80$3,278,371$0$0$2,044,094
81$3,466,090$0$0$2,162,461
82$3,668,338$0$0$2,290,062
83$3,886,448$0$0$2,427,750
84$4,121,890$0$0$2,576,461
85$4,376,276$0$0$2,737,225
86$4,651,380$0$0$2,911,172
87$4,949,148$0$0$3,099,547
88$5,271,724$0$0$3,303,716
89$5,621,462$0$0$3,525,184
90$6,000,952$0$0$3,765,602
91$6,413,042$0$0$4,026,789
92$6,860,865$0$0$4,310,746
93$7,347,867$0$0$4,619,674
94$7,877,840$0$0$4,955,993
95$8,454,956$0$0$5,322,367
96$9,083,806$0$0$5,721,729
97$9,769,441$0$0$6,157,305
98$10,517,422$0$0$6,632,646
99$11,333,869$0$0$7,151,662
100$12,225,519$0$0$7,718,655