Can I retire at age 47 with 740,000?

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 $740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$61,109$60,564$60,033$59,515$59,009$56,870
2 years$30,252$29,688$29,142$28,613$28,099$25,968
3 years$19,967$19,402$18,857$18,333$17,827$15,770
4 years$14,826$14,262$13,723$13,208$12,715$10,748
5 years$11,743$11,182$10,650$10,145$9,665$7,794
6 years$9,687$9,131$8,607$8,113$7,648$5,873
7 years$8,220$7,668$7,152$6,670$6,220$4,541
8 years$7,120$6,573$6,066$5,595$5,160$3,576
9 years$6,265$5,723$5,224$4,766$4,345$2,854
10 years$5,581$5,044$4,555$4,108$3,703$2,302
11 years$5,022$4,491$4,010$3,575$3,184$1,870
12 years$4,556$4,031$3,559$3,136$2,759$1,530
13 years$4,163$3,643$3,179$2,769$2,406$1,257
14 years$3,826$3,311$2,857$2,458$2,109$1,037
15 years$3,534$3,025$2,579$2,192$1,857$858
16 years$3,278$2,775$2,338$1,963$1,641$712
17 years$3,054$2,556$2,128$1,763$1,455$592
18 years$2,854$2,362$1,942$1,589$1,294$493
19 years$2,675$2,189$1,778$1,436$1,153$412
20 years$2,515$2,034$1,632$1,301$1,030$344
21 years$2,370$1,894$1,501$1,180$922$287
22 years$2,238$1,768$1,383$1,073$826$241
23 years$2,119$1,654$1,277$977$742$201
24 years$2,009$1,550$1,181$891$667$169
25 years$1,908$1,454$1,094$814$600$141
26 years$1,815$1,367$1,015$744$540$119
27 years$1,729$1,286$942$681$487$100
28 years$1,649$1,212$876$624$440$83
29 years$1,575$1,143$815$572$397$70
30 years$1,506$1,080$759$525$359$59
31 years$1,442$1,021$708$483$324$49
32 years$1,382$966$661$443$293$41
33 years$1,325$915$617$408$266$35
34 years$1,272$867$576$375$240$29
35 years$1,222$822$539$345$218$25
36 years$1,175$780$504$318$197$21
37 years$1,131$741$472$293$179$17
38 years$1,089$704$442$270$162$15
39 years$1,049$670$414$249$147$12
40 years$1,012$637$388$230$133$10
41 years$976$607$364$212$121$9
42 years$942$578$341$196$110$7
43 years$910$551$320$181$100$6
44 years$879$525$301$167$90$5
45 years$850$500$282$154$82$4
46 years$822$477$265$142$75$4
47 years$796$456$249$131$68$3
48 years$770$435$234$121$61$3
49 years$746$415$220$112$56$2
50 years$722$397$207$104$51$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $740,000, adding $2,924 every year, while hoping to spend $38,402 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: 33/50/17 Blend
46$740,000$740,000$740,000$740,000
47$818,496$779,276$767,806$841,092
48$861,123$776,601$752,668$855,333
49$906,811$772,508$735,736$866,908
50$955,832$766,887$716,909$878,563
51$1,008,483$759,621$696,082$890,328
52$1,065,092$750,586$673,145$902,236
53$1,126,019$739,652$647,982$914,329
54$1,191,656$726,678$620,473$926,657
55$1,262,439$711,519$590,492$939,279
56$1,338,842$694,018$557,908$952,261
57$1,421,389$674,010$522,583$965,685
58$1,510,654$651,320$484,373$979,641
59$1,607,269$625,763$443,128$994,237
60$1,711,928$597,143$398,691$1,009,595
61$1,825,396$565,254$350,897$1,025,855
62$1,948,510$529,875$299,577$1,043,177
63$2,082,196$490,777$244,550$1,061,745
64$2,227,468$447,713$185,630$1,081,766
65$2,385,444$400,425$122,623$1,103,478
66$2,557,352$348,639$55,324$1,127,148
67$2,744,546$292,066$0$1,153,079
68$2,948,514$230,402$0$1,184,605
69$3,170,893$163,322$0$1,230,024
70$3,413,486$90,487$0$1,279,768
71$3,678,277$11,536$0$1,334,367
72$3,967,451$0$0$1,394,418
73$4,283,410$0$0$1,501,249
74$4,628,803$0$0$1,625,076
75$5,006,543$0$0$1,760,611
76$5,419,840$0$0$1,909,018
77$5,872,225$0$0$2,071,580
78$6,367,589$0$0$2,249,711
79$6,910,218$0$0$2,444,967
80$7,504,828$0$0$2,659,061
81$8,156,616$0$0$2,893,880
82$8,871,305$0$0$3,151,505
83$9,655,197$0$0$3,434,224
84$10,515,236$0$0$3,744,561
85$11,459,068$0$0$4,085,293
86$12,495,116$0$0$4,459,482
87$13,632,658$0$0$4,870,500
88$14,881,915$0$0$5,322,059
89$16,254,147$0$0$5,818,253
90$17,761,756$0$0$6,363,589
91$19,418,406$0$0$6,963,033
92$21,239,150$0$0$7,622,057
93$23,240,572$0$0$8,346,689
94$25,440,943$0$0$9,143,569
95$27,860,391$0$0$10,020,014
96$30,521,094$0$0$10,984,087
97$33,447,485$0$0$12,044,669
98$36,666,485$0$0$13,211,547
99$40,207,755$0$0$14,495,504
100$44,103,975$0$0$15,908,420