Can I retire at age 47 with 580,000?

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 $580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$47,896$47,469$47,053$46,647$46,250$44,716
2 years$23,711$23,269$22,841$22,426$22,024$20,493
3 years$15,650$15,207$14,780$14,369$13,973$12,494
4 years$11,621$11,179$10,756$10,352$9,966$8,549
5 years$9,204$8,764$8,347$7,951$7,576$6,226
6 years$7,593$7,157$6,746$6,359$5,994$4,712
7 years$6,443$6,010$5,606$5,228$4,875$3,660
8 years$5,580$5,152$4,754$4,385$4,044$2,896
9 years$4,910$4,486$4,095$3,735$3,406$2,323
10 years$4,374$3,954$3,570$3,220$2,902$1,882
11 years$3,936$3,520$3,143$2,802$2,496$1,538
12 years$3,571$3,159$2,789$2,458$2,163$1,264
13 years$3,263$2,855$2,492$2,170$1,886$1,045
14 years$2,998$2,595$2,239$1,926$1,653$867
15 years$2,770$2,371$2,022$1,718$1,456$721
16 years$2,570$2,175$1,833$1,538$1,287$602
17 years$2,393$2,003$1,668$1,382$1,141$504
18 years$2,237$1,851$1,522$1,246$1,014$422
19 years$2,097$1,715$1,394$1,125$904$354
20 years$1,971$1,594$1,279$1,019$808$298
21 years$1,858$1,485$1,177$925$723$250
22 years$1,754$1,386$1,084$841$648$211
23 years$1,660$1,296$1,001$766$581$178
24 years$1,574$1,215$926$699$523$150
25 years$1,495$1,140$858$638$470$126
26 years$1,422$1,071$795$583$424$107
27 years$1,355$1,008$739$534$382$90
28 years$1,293$950$687$489$345$76
29 years$1,235$896$639$449$311$64
30 years$1,181$846$595$412$281$54
31 years$1,130$800$555$378$254$46
32 years$1,083$757$518$348$230$39
33 years$1,039$717$483$320$208$33
34 years$997$680$452$294$188$28
35 years$958$645$422$271$171$23
36 years$921$612$395$249$155$20
37 years$886$581$370$230$140$17
38 years$854$552$346$212$127$14
39 years$822$525$324$195$115$12
40 years$793$500$304$180$104$10
41 years$765$476$285$166$95$9
42 years$738$453$267$153$86$7
43 years$713$431$251$142$78$6
44 years$689$411$236$131$71$5
45 years$666$392$221$121$64$4
46 years$644$374$208$111$58$4
47 years$624$357$195$103$53$3
48 years$604$341$183$95$48$3
49 years$585$326$172$88$44$2
50 years$566$311$162$81$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $580,000, adding $3,211 every year, while hoping to spend $25,783 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: 56/29/15 Blend
46$580,000$580,000$580,000$580,000
47$642,472$611,732$602,742$675,765
48$680,571$614,274$595,501$701,275
49$721,693$616,076$587,153$725,972
50$766,117$617,076$577,635$752,283
51$814,153$617,205$566,877$780,369
52$866,140$616,392$554,812$810,406
53$922,452$614,560$541,363$842,590
54$983,499$611,630$526,455$877,137
55$1,049,731$607,515$510,007$914,289
56$1,121,645$602,126$491,934$954,309
57$1,199,788$595,364$472,148$997,493
58$1,284,758$587,129$450,557$1,044,164
59$1,377,217$577,312$427,065$1,094,684
60$1,477,891$565,798$401,570$1,149,450
61$1,587,581$552,467$373,967$1,208,903
62$1,707,165$537,189$344,146$1,273,529
63$1,837,613$519,829$311,992$1,343,867
64$1,979,991$500,241$277,385$1,420,513
65$2,135,472$478,275$240,199$1,504,124
66$2,305,348$453,768$200,304$1,595,430
67$2,491,041$426,551$157,561$1,695,234
68$2,694,117$396,441$111,829$1,804,426
69$2,916,300$363,250$62,959$1,923,989
70$3,159,488$326,775$10,793$2,055,009
71$3,425,772$286,803$0$2,198,686
72$3,717,453$243,109$0$2,363,528
73$4,037,067$195,454$0$2,546,128
74$4,387,405$143,589$0$2,746,402
75$4,771,541$87,246$0$2,966,169
76$5,192,864$26,146$0$3,207,431
77$5,655,102$0$0$3,472,401
78$6,162,364$0$0$3,776,286
79$6,719,176$0$0$4,119,066
80$7,330,522$0$0$4,495,475
81$8,001,895$0$0$4,908,900
82$8,739,342$0$0$5,363,073
83$9,549,529$0$0$5,862,106
84$10,439,797$0$0$6,410,528
85$11,418,232$0$0$7,013,329
86$12,493,745$0$0$7,676,008
87$13,676,153$0$0$8,404,620
88$14,976,270$0$0$9,205,839
89$16,406,011$0$0$10,087,017
90$17,978,503$0$0$11,056,254
91$19,708,211$0$0$12,122,474
92$21,611,070$0$0$13,295,510
93$23,704,638$0$0$14,586,198
94$26,008,261$0$0$16,006,474
95$28,543,255$0$0$17,569,491
96$31,333,105$0$0$19,289,743
97$34,403,692$0$0$21,183,197
98$37,783,528$0$0$23,267,449
99$41,504,033$0$0$25,561,887
100$45,599,828$0$0$28,087,875