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%14%
1 years$61,109$60,564$60,033$59,515$59,009$58,031
2 years$30,252$29,688$29,142$28,613$28,099$27,117
3 years$19,967$19,402$18,857$18,333$17,827$16,871
4 years$14,826$14,262$13,723$13,208$12,715$11,792
5 years$11,743$11,182$10,650$10,145$9,665$8,779
6 years$9,687$9,131$8,607$8,113$7,648$6,799
7 years$8,220$7,668$7,152$6,670$6,220$5,408
8 years$7,120$6,573$6,066$5,595$5,160$4,385
9 years$6,265$5,723$5,224$4,766$4,345$3,608
10 years$5,581$5,044$4,555$4,108$3,703$3,001
11 years$5,022$4,491$4,010$3,575$3,184$2,518
12 years$4,556$4,031$3,559$3,136$2,759$2,128
13 years$4,163$3,643$3,179$2,769$2,406$1,808
14 years$3,826$3,311$2,857$2,458$2,109$1,544
15 years$3,534$3,025$2,579$2,192$1,857$1,324
16 years$3,278$2,775$2,338$1,963$1,641$1,138
17 years$3,054$2,556$2,128$1,763$1,455$982
18 years$2,854$2,362$1,942$1,589$1,294$848
19 years$2,675$2,189$1,778$1,436$1,153$735
20 years$2,515$2,034$1,632$1,301$1,030$638
21 years$2,370$1,894$1,501$1,180$922$554
22 years$2,238$1,768$1,383$1,073$826$482
23 years$2,119$1,654$1,277$977$742$420
24 years$2,009$1,550$1,181$891$667$366
25 years$1,908$1,454$1,094$814$600$319
26 years$1,815$1,367$1,015$744$540$279
27 years$1,729$1,286$942$681$487$243
28 years$1,649$1,212$876$624$440$213
29 years$1,575$1,143$815$572$397$186
30 years$1,506$1,080$759$525$359$163
31 years$1,442$1,021$708$483$324$142
32 years$1,382$966$661$443$293$125
33 years$1,325$915$617$408$266$109
34 years$1,272$867$576$375$240$96
35 years$1,222$822$539$345$218$84
36 years$1,175$780$504$318$197$73
37 years$1,131$741$472$293$179$64
38 years$1,089$704$442$270$162$56
39 years$1,049$670$414$249$147$49
40 years$1,012$637$388$230$133$43
41 years$976$607$364$212$121$38
42 years$942$578$341$196$110$33
43 years$910$551$320$181$100$29
44 years$879$525$301$167$90$26
45 years$850$500$282$154$82$22
46 years$822$477$265$142$75$20
47 years$796$456$249$131$68$17
48 years$770$435$234$121$61$15
49 years$746$415$220$112$56$13
50 years$722$397$207$104$51$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $740,000, adding $5,880 every year, while hoping to spend $22,678 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: 67/10/23 Blend
46$740,000$740,000$740,000$740,000
47$821,545$782,325$770,855$871,391
48$881,214$796,530$772,550$919,783
49$946,208$810,671$773,541$969,552
50$1,017,048$824,720$773,781$1,023,450
51$1,094,305$838,649$773,221$1,081,885
52$1,178,608$852,427$771,807$1,145,307
53$1,270,649$866,019$769,486$1,214,208
54$1,371,191$879,390$766,200$1,289,135
55$1,481,073$892,500$761,888$1,370,690
56$1,601,218$905,309$756,487$1,459,534
57$1,732,644$917,771$749,931$1,556,399
58$1,876,471$929,839$742,151$1,662,090
59$2,033,932$941,461$733,073$1,777,495
60$2,206,384$952,584$722,623$1,903,593
61$2,395,324$963,150$710,719$2,041,463
62$2,602,398$973,095$697,280$2,192,294
63$2,829,421$982,355$682,216$2,357,400
64$3,078,389$990,858$665,438$2,538,225
65$3,351,504$998,529$646,850$2,736,364
66$3,651,189$1,005,288$626,350$2,953,573
67$3,980,113$1,011,050$603,836$3,191,792
68$4,341,218$1,015,725$579,198$3,453,154
69$4,737,741$1,019,215$552,320$3,740,015
70$5,173,253$1,021,418$523,085$4,054,970
71$5,651,683$1,022,225$491,366$4,400,881
72$6,177,361$1,021,521$457,034$4,780,901
73$6,755,059$1,019,183$419,951$5,198,508
74$7,390,031$1,015,079$379,976$5,657,534
75$8,088,069$1,009,072$336,960$6,162,206
76$8,855,550$1,001,015$290,746$6,717,180
77$9,699,503$990,752$241,173$7,327,590
78$10,627,671$978,117$188,071$7,999,097
79$11,648,585$962,936$131,262$8,737,938
80$12,771,643$945,023$70,563$9,550,991
81$14,007,204$924,182$5,779$10,445,835
82$15,366,676$900,205$0$11,430,826
83$16,862,633$872,871$0$12,530,721
84$18,508,927$841,947$0$13,742,649
85$20,320,822$807,186$0$15,076,433
86$22,315,135$768,328$0$16,544,463
87$24,510,399$725,096$0$18,160,391
88$26,927,031$677,197$0$19,939,264
89$29,587,532$624,324$0$21,897,660
90$32,516,694$566,149$0$24,053,850
91$35,741,833$502,327$0$26,427,966
92$39,293,053$432,494$0$29,042,196
93$43,203,522$356,263$0$31,920,989
94$47,509,790$273,229$0$35,091,287
95$52,252,132$182,961$0$38,582,783
96$57,474,928$85,004$0$42,428,194
97$63,227,081$0$0$46,663,578
98$69,562,479$0$0$51,330,993
99$76,540,504$0$0$56,482,211
100$84,226,592$0$0$62,156,189