Can I retire at age 47 with 690,000?

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 $690,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$56,980$56,472$55,977$55,494$55,022$54,402
2 years$28,208$27,682$27,173$26,680$26,201$25,577
3 years$18,618$18,091$17,583$17,094$16,623$16,014
4 years$13,825$13,299$12,796$12,315$11,856$11,267
5 years$10,949$10,426$9,930$9,459$9,012$8,445
6 years$9,033$8,514$8,025$7,565$7,131$6,586
7 years$7,664$7,150$6,669$6,219$5,800$5,277
8 years$6,639$6,129$5,656$5,217$4,811$4,311
9 years$5,841$5,336$4,871$4,444$4,052$3,574
10 years$5,204$4,704$4,247$3,831$3,452$2,997
11 years$4,682$4,187$3,739$3,334$2,969$2,535
12 years$4,248$3,758$3,318$2,924$2,573$2,160
13 years$3,881$3,396$2,965$2,582$2,244$1,851
14 years$3,567$3,087$2,664$2,292$1,967$1,595
15 years$3,295$2,820$2,405$2,044$1,732$1,379
16 years$3,057$2,588$2,180$1,830$1,531$1,197
17 years$2,847$2,383$1,984$1,644$1,357$1,042
18 years$2,661$2,202$1,811$1,482$1,207$909
19 years$2,495$2,041$1,658$1,339$1,075$795
20 years$2,345$1,896$1,522$1,213$961$696
21 years$2,210$1,766$1,400$1,101$860$611
22 years$2,087$1,649$1,290$1,001$771$536
23 years$1,975$1,542$1,191$911$692$472
24 years$1,873$1,445$1,102$831$622$416
25 years$1,779$1,356$1,020$759$559$366
26 years$1,692$1,274$946$694$504$323
27 years$1,612$1,199$879$635$454$285
28 years$1,538$1,130$817$582$410$252
29 years$1,469$1,066$760$534$370$223
30 years$1,405$1,007$708$490$334$197
31 years$1,345$952$660$450$302$174
32 years$1,288$901$616$413$274$154
33 years$1,236$853$575$380$248$136
34 years$1,186$808$537$350$224$121
35 years$1,140$767$502$322$203$107
36 years$1,096$728$470$297$184$95
37 years$1,055$691$440$273$167$84
38 years$1,015$657$412$252$151$74
39 years$978$625$386$232$137$66
40 years$943$594$362$214$124$58
41 years$910$566$339$198$113$52
42 years$878$539$318$182$102$46
43 years$848$513$299$168$93$41
44 years$820$489$280$155$84$36
45 years$793$467$263$144$77$32
46 years$767$445$247$133$69$28
47 years$742$425$232$123$63$25
48 years$718$406$218$113$57$22
49 years$695$387$205$105$52$20
50 years$674$370$193$97$47$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $690,000, adding $3,477 every year, while hoping to spend $20,040 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: 37/48/15 Blend
46$690,000$690,000$690,000$690,000
47$763,967$727,397$716,702$788,627
48$820,569$741,717$719,389$820,984
49$882,273$756,067$721,494$853,740
50$949,578$770,427$722,977$888,690
51$1,023,033$784,776$723,795$926,040
52$1,103,244$799,092$723,904$966,019
53$1,190,876$813,348$723,256$1,008,878
54$1,286,661$827,519$721,801$1,054,895
55$1,391,409$841,575$719,489$1,104,378
56$1,506,005$855,485$716,265$1,157,663
57$1,631,430$869,216$712,073$1,215,125
58$1,768,761$882,732$706,852$1,277,175
59$1,919,183$895,995$700,540$1,344,268
60$2,084,003$908,962$693,071$1,416,906
61$2,264,661$921,591$684,379$1,495,643
62$2,462,740$933,833$674,389$1,581,090
63$2,679,987$945,638$663,029$1,673,922
64$2,918,323$956,952$650,218$1,774,883
65$3,179,867$967,717$635,875$1,884,795
66$3,466,950$977,872$619,913$2,004,564
67$3,782,142$987,351$602,243$2,135,192
68$4,128,272$996,083$582,770$2,277,781
69$4,508,459$1,003,994$561,396$2,433,552
70$4,926,137$1,011,005$538,018$2,603,847
71$5,385,089$1,017,030$512,528$2,790,150
72$5,889,483$1,021,980$484,813$2,994,098
73$6,443,912$1,025,758$454,755$3,217,498
74$7,053,434$1,028,263$422,233$3,462,341
75$7,723,623$1,029,387$387,116$3,730,825
76$8,460,620$1,029,014$349,272$4,025,376
77$9,271,190$1,027,022$308,559$4,348,670
78$10,162,786$1,023,282$264,831$4,703,656
79$11,143,623$1,017,655$217,935$5,093,592
80$12,222,748$1,009,996$167,712$5,522,069
81$13,410,132$1,000,149$113,993$5,993,047
82$14,716,760$987,951$56,607$6,510,897
83$16,154,736$973,227$0$7,080,438
84$17,737,397$955,793$0$7,707,728
85$19,479,438$935,453$0$8,407,605
86$21,397,051$912,001$0$9,177,496
87$23,508,079$885,217$0$10,024,566
88$25,832,179$854,869$0$10,956,714
89$28,391,016$820,712$0$11,982,650
90$31,208,458$782,486$0$13,111,973
91$34,310,809$739,916$0$14,355,272
92$37,727,051$692,711$0$15,724,215
93$41,489,120$640,564$0$17,231,671
94$45,632,209$583,150$0$18,891,824
95$50,195,095$520,125$0$20,720,313
96$55,220,511$451,127$0$22,734,378
97$60,755,542$375,772$0$24,953,025
98$66,852,077$293,655$0$27,397,206
99$73,567,292$204,346$0$30,090,018
100$80,964,192$107,396$0$33,056,923