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%11.3%
1 years$59,457$58,927$58,411$57,906$57,414$57,100
2 years$29,434$28,886$28,355$27,840$27,340$27,023
3 years$19,428$18,877$18,347$17,837$17,346$17,036
4 years$14,426$13,877$13,352$12,851$12,371$12,071
5 years$11,425$10,880$10,362$9,870$9,404$9,114
6 years$9,425$8,884$8,374$7,894$7,441$7,162
7 years$7,998$7,461$6,959$6,490$6,052$5,783
8 years$6,927$6,395$5,902$5,444$5,020$4,762
9 years$6,095$5,568$5,083$4,637$4,228$3,981
10 years$5,430$4,908$4,431$3,997$3,602$3,366
11 years$4,886$4,369$3,901$3,479$3,098$2,872
12 years$4,433$3,922$3,462$3,051$2,685$2,469
13 years$4,050$3,544$3,093$2,694$2,341$2,135
14 years$3,722$3,221$2,779$2,391$2,052$1,856
15 years$3,438$2,943$2,509$2,133$1,807$1,620
16 years$3,190$2,700$2,275$1,910$1,597$1,420
17 years$2,971$2,487$2,070$1,716$1,416$1,248
18 years$2,777$2,298$1,890$1,546$1,259$1,099
19 years$2,603$2,130$1,730$1,397$1,122$971
20 years$2,447$1,979$1,588$1,265$1,002$859
21 years$2,306$1,843$1,461$1,148$897$762
22 years$2,178$1,721$1,346$1,044$804$676
23 years$2,061$1,609$1,243$951$722$601
24 years$1,954$1,508$1,149$867$649$535
25 years$1,856$1,415$1,065$792$584$477
26 years$1,766$1,330$987$724$526$425
27 years$1,682$1,252$917$663$474$379
28 years$1,605$1,179$852$607$428$339
29 years$1,533$1,113$793$557$386$303
30 years$1,466$1,051$739$511$349$271
31 years$1,403$993$689$469$316$242
32 years$1,344$940$643$431$285$217
33 years$1,289$890$600$397$258$194
34 years$1,238$844$561$365$234$174
35 years$1,189$800$524$336$212$156
36 years$1,144$759$490$309$192$140
37 years$1,100$721$459$285$174$125
38 years$1,060$685$430$263$158$112
39 years$1,021$652$403$242$143$101
40 years$984$620$377$224$130$90
41 years$950$590$354$206$118$81
42 years$917$562$332$190$107$73
43 years$885$536$312$176$97$65
44 years$855$511$292$162$88$59
45 years$827$487$275$150$80$53
46 years$800$464$258$138$73$47
47 years$774$443$242$128$66$42
48 years$749$423$228$118$60$38
49 years$726$404$214$109$54$34
50 years$703$386$201$101$49$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $720,000, adding $6,592 every year, while hoping to spend $28,228 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: 51/40/9 Blend
46$720,000$720,000$720,000$720,000
47$800,240$762,080$750,920$838,859
48$851,830$769,387$746,041$873,215
49$907,736$776,107$740,053$906,968
50$968,369$782,180$732,888$943,000
51$1,034,179$787,543$724,477$981,530
52$1,105,664$792,132$714,746$1,022,804
53$1,183,370$795,874$703,618$1,067,091
54$1,267,896$798,695$691,012$1,114,690
55$1,359,905$800,514$676,844$1,165,931
56$1,460,123$801,247$661,026$1,221,180
57$1,569,351$800,803$643,466$1,280,839
58$1,688,469$799,087$624,066$1,345,355
59$1,818,448$795,997$602,727$1,415,220
60$1,960,353$791,425$579,342$1,490,979
61$2,115,360$785,256$553,801$1,573,235
62$2,284,762$777,369$525,989$1,662,651
63$2,469,983$767,634$495,784$1,759,964
64$2,672,590$755,917$463,061$1,865,985
65$2,894,308$742,071$427,688$1,981,611
66$3,137,039$725,944$389,527$2,107,834
67$3,402,875$707,373$348,435$2,245,748
68$3,694,121$686,187$304,260$2,396,563
69$4,013,314$662,204$256,846$2,561,614
70$4,363,251$635,230$206,029$2,742,376
71$4,747,010$605,064$151,638$2,940,478
72$5,167,981$571,488$93,494$3,157,720
73$5,629,900$534,276$31,411$3,396,087
74$6,136,880$493,186$0$3,657,773
75$6,693,453$447,963$0$3,948,545
76$7,304,611$398,339$0$4,271,165
77$7,975,853$344,029$0$4,625,586
78$8,713,235$284,732$0$5,015,086
79$9,523,432$220,130$0$5,443,282
80$10,413,794$149,889$0$5,914,165
81$11,392,421$73,653$0$6,432,137
82$12,468,235$0$0$7,002,057
83$13,651,066$0$0$7,633,223
84$14,951,745$0$0$8,363,004
85$16,382,204$0$0$9,165,685
86$17,955,588$0$0$10,048,653
87$19,686,384$0$0$11,020,048
88$21,590,550$0$0$12,088,839
89$23,685,669$0$0$13,264,905
90$25,991,117$0$0$14,559,135
91$28,528,239$0$0$15,983,524
92$31,320,558$0$0$17,551,291
93$34,393,991$0$0$19,276,999
94$37,777,093$0$0$21,176,697
95$41,501,332$0$0$23,268,068
96$45,601,379$0$0$25,570,597
97$50,115,439$0$0$28,105,752
98$55,085,608$0$0$30,897,193
99$60,558,274$0$0$33,970,987
100$66,584,550$0$0$37,355,860