Can I retire at age 47 with 320,000?

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 $320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$26,425$26,190$25,960$25,736$25,517$25,178
2 years$13,082$12,838$12,602$12,373$12,151$11,809
3 years$8,635$8,390$8,154$7,928$7,709$7,376
4 years$6,411$6,167$5,934$5,711$5,498$5,176
5 years$5,078$4,835$4,605$4,387$4,180$3,870
6 years$4,189$3,948$3,722$3,508$3,307$3,010
7 years$3,555$3,316$3,093$2,884$2,690$2,405
8 years$3,079$2,842$2,623$2,420$2,231$1,959
9 years$2,709$2,475$2,259$2,061$1,879$1,619
10 years$2,413$2,181$1,970$1,777$1,601$1,354
11 years$2,172$1,942$1,734$1,546$1,377$1,142
12 years$1,970$1,743$1,539$1,356$1,193$970
13 years$1,800$1,575$1,375$1,197$1,041$828
14 years$1,654$1,432$1,235$1,063$912$711
15 years$1,528$1,308$1,115$948$803$613
16 years$1,418$1,200$1,011$849$710$530
17 years$1,320$1,105$920$763$629$460
18 years$1,234$1,021$840$687$560$400
19 years$1,157$946$769$621$499$348
20 years$1,088$880$706$562$446$304
21 years$1,025$819$649$510$399$266
22 years$968$765$598$464$357$232
23 years$916$715$552$423$321$204
24 years$869$670$511$385$288$179
25 years$825$629$473$352$259$157
26 years$785$591$439$322$234$138
27 years$748$556$408$295$211$121
28 years$713$524$379$270$190$107
29 years$681$494$353$248$172$94
30 years$651$467$328$227$155$83
31 years$624$441$306$209$140$73
32 years$597$418$286$192$127$64
33 years$573$396$267$176$115$56
34 years$550$375$249$162$104$50
35 years$529$356$233$149$94$44
36 years$508$338$218$138$85$39
37 years$489$321$204$127$77$34
38 years$471$305$191$117$70$30
39 years$454$290$179$108$64$27
40 years$437$276$168$99$58$23
41 years$422$262$157$92$52$21
42 years$407$250$148$85$47$18
43 years$393$238$138$78$43$16
44 years$380$227$130$72$39$14
45 years$368$216$122$67$35$13
46 years$356$206$115$62$32$11
47 years$344$197$108$57$29$10
48 years$333$188$101$53$27$9
49 years$322$180$95$49$24$8
50 years$312$172$89$45$22$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $320,000, adding $5,741 every year, while hoping to spend $22,701 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: 34/42/24 Blend
46$320,000$320,000$320,000$320,000
47$358,562$341,602$336,642$367,975
48$370,981$334,187$323,766$368,071
49$383,907$325,647$309,697$365,710
50$397,366$315,905$294,373$362,709
51$411,389$304,875$277,725$359,026
52$426,006$292,470$259,685$354,616
53$441,254$278,596$240,180$349,432
54$457,168$263,153$219,132$343,427
55$473,789$246,038$196,463$336,549
56$491,160$227,138$172,089$328,745
57$509,328$206,337$145,923$319,959
58$528,343$183,512$117,875$310,134
59$548,260$158,530$87,850$299,208
60$569,139$131,254$55,749$287,119
61$591,043$101,537$21,469$273,800
62$614,043$69,226$0$259,184
63$638,214$34,157$0$247,069
64$663,639$0$0$239,630
65$690,408$0$0$233,092
66$718,618$0$0$242,856
67$748,376$0$0$253,174
68$779,798$0$0$264,090
69$813,010$0$0$275,649
70$848,150$0$0$287,903
71$885,369$0$0$300,907
72$924,833$0$0$314,722
73$966,719$0$0$329,415
74$1,011,226$0$0$345,058
75$1,058,569$0$0$361,730
76$1,108,983$0$0$379,520
77$1,162,726$0$0$398,523
78$1,220,080$0$0$418,843
79$1,281,356$0$0$440,595
80$1,346,891$0$0$463,906
81$1,417,059$0$0$488,913
82$1,492,266$0$0$515,767
83$1,572,961$0$0$544,636
84$1,659,634$0$0$575,702
85$1,752,823$0$0$609,165
86$1,853,121$0$0$645,246
87$1,961,177$0$0$684,186
88$2,077,705$0$0$726,252
89$2,203,487$0$0$771,735
90$2,339,386$0$0$820,957
91$2,486,347$0$0$874,270
92$2,645,412$0$0$932,063
93$2,817,722$0$0$994,762
94$3,004,537$0$0$1,062,837
95$3,207,238$0$0$1,136,804
96$3,427,346$0$0$1,217,230
97$3,666,533$0$0$1,304,740
98$3,926,641$0$0$1,400,023
99$4,209,691$0$0$1,503,833
100$4,517,913$0$0$1,617,004