Can I retire at age 47 with 500,000?

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 $500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$41,290$40,922$40,563$40,213$39,871$39,537
2 years$20,440$20,060$19,691$19,333$18,986$18,649
3 years$13,492$13,109$12,741$12,387$12,046$11,717
4 years$10,018$9,637$9,272$8,924$8,591$8,272
5 years$7,934$7,555$7,196$6,855$6,531$6,223
6 years$6,545$6,169$5,815$5,482$5,168$4,872
7 years$5,554$5,181$4,832$4,507$4,203$3,919
8 years$4,811$4,441$4,098$3,781$3,486$3,214
9 years$4,233$3,867$3,530$3,220$2,936$2,676
10 years$3,771$3,408$3,077$2,776$2,502$2,253
11 years$3,393$3,034$2,709$2,416$2,152$1,914
12 years$3,079$2,723$2,404$2,119$1,864$1,638
13 years$2,813$2,461$2,148$1,871$1,626$1,411
14 years$2,585$2,237$1,930$1,661$1,425$1,221
15 years$2,388$2,044$1,743$1,481$1,255$1,061
16 years$2,215$1,875$1,580$1,326$1,109$925
17 years$2,063$1,727$1,438$1,191$983$809
18 years$1,928$1,596$1,312$1,074$874$709
19 years$1,808$1,479$1,202$970$779$623
20 years$1,699$1,374$1,103$879$696$549
21 years$1,601$1,280$1,014$798$623$484
22 years$1,512$1,195$935$725$558$427
23 years$1,431$1,118$863$660$501$378
24 years$1,357$1,047$798$602$451$335
25 years$1,289$983$739$550$405$297
26 years$1,226$923$686$503$365$263
27 years$1,168$869$637$460$329$233
28 years$1,114$819$592$422$297$207
29 years$1,064$773$551$387$268$184
30 years$1,018$730$513$355$242$164
31 years$974$690$478$326$219$146
32 years$934$653$446$300$198$130
33 years$895$618$417$276$179$115
34 years$860$586$389$254$162$103
35 years$826$556$364$233$147$92
36 years$794$527$341$215$133$82
37 years$764$501$319$198$121$73
38 years$736$476$298$183$110$65
39 years$709$453$280$168$99$58
40 years$684$431$262$155$90$52
41 years$659$410$246$143$82$46
42 years$637$390$231$132$74$41
43 years$615$372$216$122$67$37
44 years$594$355$203$113$61$33
45 years$574$338$191$104$55$29
46 years$555$323$179$96$50$26
47 years$538$308$168$89$46$23
48 years$520$294$158$82$42$21
49 years$504$281$149$76$38$18
50 years$488$268$140$70$34$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $500,000, adding $4,583 every year, while hoping to spend $35,510 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: 58/16/26 Blend
46$500,000$500,000$500,000$500,000
47$555,727$529,227$521,477$583,792
48$574,629$517,377$501,164$591,645
49$594,269$503,756$478,981$596,041
50$614,684$488,240$454,827$600,088
51$635,915$470,697$428,597$603,761
52$658,006$450,989$400,182$607,037
53$681,003$428,967$369,468$609,888
54$704,955$404,477$336,336$612,289
55$729,918$377,353$300,660$614,213
56$755,947$347,421$262,310$615,634
57$783,106$314,498$221,150$616,522
58$811,463$278,387$177,038$616,851
59$841,088$238,885$129,825$616,593
60$872,062$195,773$79,357$615,719
61$904,468$148,821$25,471$614,203
62$938,398$97,788$0$612,016
63$973,952$42,417$0$618,019
64$1,011,237$0$0$631,417
65$1,050,370$0$0$648,256
66$1,091,479$0$0$673,804
67$1,134,701$0$0$700,679
68$1,180,186$0$0$728,977
69$1,228,097$0$0$758,801
70$1,278,613$0$0$790,265
71$1,331,927$0$0$823,492
72$1,388,250$0$0$858,615
73$1,447,812$0$0$895,781
74$1,510,866$0$0$935,150
75$1,577,685$0$0$976,896
76$1,648,571$0$0$1,021,211
77$1,723,850$0$0$1,068,303
78$1,803,883$0$0$1,118,401
79$1,889,061$0$0$1,171,755
80$1,979,815$0$0$1,228,638
81$2,076,615$0$0$1,289,350
82$2,179,976$0$0$1,354,219
83$2,290,464$0$0$1,423,606
84$2,408,698$0$0$1,497,905
85$2,535,356$0$0$1,577,548
86$2,671,185$0$0$1,663,011
87$2,817,000$0$0$1,754,815
88$2,973,700$0$0$1,853,532
89$3,142,268$0$0$1,959,789
90$3,323,785$0$0$2,074,275
91$3,519,438$0$0$2,197,749
92$3,730,532$0$0$2,331,043
93$3,958,499$0$0$2,475,069
94$4,204,913$0$0$2,630,833
95$4,471,505$0$0$2,799,440
96$4,760,177$0$0$2,982,102
97$5,073,019$0$0$3,180,155
98$5,412,331$0$0$3,395,067
99$5,780,642$0$0$3,628,452
100$6,180,733$0$0$3,882,085