Can I retire at age 47 with 620,000?

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 $620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$51,199$50,743$50,298$49,864$49,440$48,303
2 years$25,346$24,874$24,417$23,973$23,543$22,404
3 years$16,730$16,255$15,799$15,360$14,936$13,831
4 years$12,422$11,949$11,498$11,066$10,653$9,589
5 years$9,838$9,369$8,923$8,500$8,098$7,080
6 years$8,116$7,650$7,211$6,797$6,408$5,435
7 years$6,887$6,425$5,992$5,588$5,211$4,285
8 years$5,965$5,507$5,082$4,688$4,323$3,442
9 years$5,249$4,795$4,377$3,993$3,641$2,805
10 years$4,676$4,226$3,816$3,442$3,102$2,310
11 years$4,207$3,763$3,360$2,996$2,668$1,919
12 years$3,817$3,377$2,982$2,628$2,312$1,605
13 years$3,488$3,052$2,664$2,320$2,016$1,350
14 years$3,205$2,774$2,393$2,059$1,767$1,140
15 years$2,961$2,534$2,161$1,836$1,556$966
16 years$2,747$2,325$1,959$1,644$1,375$822
17 years$2,558$2,141$1,783$1,477$1,219$701
18 years$2,391$1,979$1,627$1,331$1,084$598
19 years$2,242$1,834$1,490$1,203$966$512
20 years$2,107$1,704$1,367$1,090$863$439
21 years$1,986$1,587$1,258$989$772$377
22 years$1,875$1,482$1,159$899$692$324
23 years$1,775$1,386$1,070$819$622$279
24 years$1,683$1,298$990$747$559$240
25 years$1,598$1,218$917$682$503$206
26 years$1,521$1,145$850$624$453$178
27 years$1,449$1,078$790$571$408$153
28 years$1,382$1,016$734$523$368$132
29 years$1,320$958$683$480$333$114
30 years$1,262$905$636$440$301$99
31 years$1,208$855$593$404$272$85
32 years$1,158$809$553$372$246$74
33 years$1,110$766$517$342$222$64
34 years$1,066$726$483$314$201$55
35 years$1,024$689$451$289$182$47
36 years$985$654$422$267$165$41
37 years$948$621$395$246$150$35
38 years$912$590$370$226$136$31
39 years$879$561$347$209$123$27
40 years$848$534$325$192$112$23
41 years$818$508$305$178$101$20
42 years$789$484$286$164$92$17
43 years$762$461$268$151$83$15
44 years$737$440$252$140$76$13
45 years$712$419$236$129$69$11
46 years$689$400$222$119$62$10
47 years$667$382$209$110$57$8
48 years$645$364$196$102$51$7
49 years$625$348$184$94$47$6
50 years$605$332$173$87$42$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $620,000, adding $5,021 every year, while hoping to spend $40,575 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: 47/37/16 Blend
46$620,000$620,000$620,000$620,000
47$688,419$655,559$645,949$717,446
48$715,466$644,510$624,417$727,060
49$743,913$631,560$600,804$732,959
50$773,858$616,572$574,996$738,484
51$805,410$599,403$546,878$743,616
52$838,688$579,900$516,325$748,337
53$873,821$557,902$483,208$752,630
54$910,950$533,238$447,395$756,479
55$950,228$505,728$408,743$759,870
56$991,822$475,180$367,107$762,793
57$1,035,917$441,392$322,334$765,238
58$1,082,711$404,151$274,263$767,199
59$1,132,424$363,230$222,727$768,676
60$1,185,294$318,392$167,552$769,669
61$1,241,585$269,384$108,555$770,188
62$1,301,581$215,939$45,547$770,246
63$1,365,599$157,776$0$769,862
64$1,433,980$94,597$0$772,771
65$1,507,103$26,089$0$783,845
66$1,585,380$0$0$795,384
67$1,669,265$0$0$827,064
68$1,759,255$0$0$872,491
69$1,855,895$0$0$921,326
70$1,959,784$0$0$973,877
71$2,071,580$0$0$1,030,483
72$2,192,003$0$0$1,091,517
73$2,321,846$0$0$1,157,388
74$2,461,981$0$0$1,228,547
75$2,613,364$0$0$1,305,485
76$2,777,046$0$0$1,388,748
77$2,954,183$0$0$1,478,932
78$3,146,045$0$0$1,576,694
79$3,354,029$0$0$1,682,755
80$3,579,670$0$0$1,797,909
81$3,824,658$0$0$1,923,030
82$4,090,851$0$0$2,059,077
83$4,380,291$0$0$2,207,108
84$4,695,228$0$0$2,368,285
85$5,038,135$0$0$2,543,888
86$5,411,734$0$0$2,735,325
87$5,819,022$0$0$2,944,145
88$6,263,294$0$0$3,172,055
89$6,748,180$0$0$3,420,930
90$7,277,675$0$0$3,692,838
91$7,856,175$0$0$3,990,055
92$8,488,522$0$0$4,315,085
93$9,180,045$0$0$4,670,687
94$9,936,613$0$0$5,059,897
95$10,764,687$0$0$5,486,059
96$11,671,383$0$0$5,952,857
97$12,664,536$0$0$6,464,346
98$13,752,774$0$0$7,024,991
99$14,945,602$0$0$7,639,714
100$16,253,484$0$0$8,313,930