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%13.3%
1 years$41,290$40,922$40,563$40,213$39,871$39,324
2 years$20,440$20,060$19,691$19,333$18,986$18,436
3 years$13,492$13,109$12,741$12,387$12,046$11,509
4 years$10,018$9,637$9,272$8,924$8,591$8,073
5 years$7,934$7,555$7,196$6,855$6,531$6,032
6 years$6,545$6,169$5,815$5,482$5,168$4,689
7 years$5,554$5,181$4,832$4,507$4,203$3,745
8 years$4,811$4,441$4,098$3,781$3,486$3,049
9 years$4,233$3,867$3,530$3,220$2,936$2,519
10 years$3,771$3,408$3,077$2,776$2,502$2,104
11 years$3,393$3,034$2,709$2,416$2,152$1,773
12 years$3,079$2,723$2,404$2,119$1,864$1,505
13 years$2,813$2,461$2,148$1,871$1,626$1,285
14 years$2,585$2,237$1,930$1,661$1,425$1,102
15 years$2,388$2,044$1,743$1,481$1,255$950
16 years$2,215$1,875$1,580$1,326$1,109$821
17 years$2,063$1,727$1,438$1,191$983$711
18 years$1,928$1,596$1,312$1,074$874$618
19 years$1,808$1,479$1,202$970$779$538
20 years$1,699$1,374$1,103$879$696$469
21 years$1,601$1,280$1,014$798$623$410
22 years$1,512$1,195$935$725$558$358
23 years$1,431$1,118$863$660$501$314
24 years$1,357$1,047$798$602$451$275
25 years$1,289$983$739$550$405$241
26 years$1,226$923$686$503$365$212
27 years$1,168$869$637$460$329$186
28 years$1,114$819$592$422$297$163
29 years$1,064$773$551$387$268$144
30 years$1,018$730$513$355$242$126
31 years$974$690$478$326$219$111
32 years$934$653$446$300$198$98
33 years$895$618$417$276$179$86
34 years$860$586$389$254$162$76
35 years$826$556$364$233$147$67
36 years$794$527$341$215$133$59
37 years$764$501$319$198$121$52
38 years$736$476$298$183$110$46
39 years$709$453$280$168$99$40
40 years$684$431$262$155$90$36
41 years$659$410$246$143$82$31
42 years$637$390$231$132$74$28
43 years$615$372$216$122$67$24
44 years$594$355$203$113$61$22
45 years$574$338$191$104$55$19
46 years$555$323$179$96$50$17
47 years$538$308$168$89$46$15
48 years$520$294$158$82$42$13
49 years$504$281$149$76$38$12
50 years$488$268$140$70$34$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $500,000, adding $4,975 every year, while hoping to spend $28,617 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: 64/7/29 Blend
46$500,000$500,000$500,000$500,000
47$556,132$529,632$521,882$587,133
48$582,409$525,135$508,916$604,240
49$610,407$519,460$494,558$619,341
50$640,272$512,516$478,729$635,228
51$672,163$504,213$461,349$651,981
52$706,253$494,449$442,334$669,691
53$742,735$483,121$421,597$688,459
54$781,819$470,119$399,045$708,398
55$823,733$455,324$374,582$729,632
56$868,732$438,612$348,108$752,300
57$917,090$419,852$319,517$776,556
58$969,114$398,905$288,701$802,572
59$1,025,136$375,624$255,545$830,539
60$1,085,523$349,853$219,929$860,668
61$1,150,678$321,427$181,729$893,193
62$1,221,043$290,173$140,813$928,375
63$1,297,106$255,907$97,046$966,502
64$1,379,399$218,435$50,285$1,007,896
65$1,468,511$177,552$383$1,052,909
66$1,565,087$133,040$0$1,101,937
67$1,669,837$84,671$0$1,171,774
68$1,783,544$32,203$0$1,247,734
69$1,907,065$0$0$1,330,283
70$2,041,345$0$0$1,421,966
71$2,187,425$0$0$1,524,434
72$2,346,447$0$0$1,636,012
73$2,519,671$0$0$1,757,588
74$2,708,481$0$0$1,890,138
75$2,914,401$0$0$2,034,737
76$3,139,109$0$0$2,192,566
77$3,384,452$0$0$2,364,928
78$3,652,462$0$0$2,553,255
79$3,945,378$0$0$2,759,126
80$4,265,662$0$0$2,984,276
81$4,616,027$0$0$3,230,620
82$4,999,461$0$0$3,500,261
83$5,419,252$0$0$3,795,520
84$5,879,022$0$0$4,118,949
85$6,382,759$0$0$4,473,361
86$6,934,855$0$0$4,861,853
87$7,540,149$0$0$5,287,836
88$8,203,967$0$0$5,755,067
89$8,932,179$0$0$6,267,683
90$9,731,248$0$0$6,830,242
91$10,608,293$0$0$7,447,764
92$11,571,157$0$0$8,125,781
93$12,628,480$0$0$8,870,383
94$13,789,777$0$0$9,688,281
95$15,065,531$0$0$10,586,868
96$16,467,292$0$0$11,574,287
97$18,007,783$0$0$12,659,512
98$19,701,020$0$0$13,852,426
99$21,562,445$0$0$15,163,920
100$23,609,071$0$0$16,605,989