Can I retire at age 47 with 700,000?

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 $700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$57,805$57,290$56,788$56,298$55,819$54,206
2 years$28,617$28,084$27,567$27,066$26,580$24,968
3 years$18,888$18,353$17,838$17,342$16,864$15,303
4 years$14,025$13,491$12,981$12,494$12,027$10,530
5 years$11,108$10,577$10,074$9,596$9,143$7,713
6 years$9,164$8,637$8,141$7,674$7,235$5,873
7 years$7,776$7,254$6,765$6,309$5,884$4,590
8 years$6,735$6,218$5,738$5,293$4,881$3,656
9 years$5,926$5,414$4,942$4,508$4,111$2,952
10 years$5,279$4,772$4,308$3,886$3,502$2,409
11 years$4,750$4,248$3,793$3,382$3,012$1,982
12 years$4,310$3,813$3,366$2,967$2,610$1,641
13 years$3,938$3,446$3,008$2,619$2,276$1,366
14 years$3,619$3,132$2,702$2,325$1,995$1,142
15 years$3,343$2,861$2,440$2,073$1,757$958
16 years$3,101$2,625$2,212$1,857$1,553$806
17 years$2,889$2,418$2,013$1,668$1,377$680
18 years$2,700$2,234$1,837$1,503$1,224$574
19 years$2,531$2,070$1,682$1,358$1,091$486
20 years$2,379$1,924$1,544$1,230$975$412
21 years$2,242$1,792$1,420$1,117$872$349
22 years$2,117$1,673$1,309$1,015$782$297
23 years$2,004$1,565$1,208$925$702$252
24 years$1,900$1,466$1,118$843$631$215
25 years$1,805$1,376$1,035$770$568$183
26 years$1,717$1,293$960$704$511$156
27 years$1,635$1,217$891$645$461$132
28 years$1,560$1,147$829$591$416$113
29 years$1,490$1,082$771$542$376$96
30 years$1,425$1,021$718$497$339$82
31 years$1,364$966$670$456$307$70
32 years$1,307$914$625$419$278$60
33 years$1,254$865$583$386$251$51
34 years$1,203$820$545$355$227$43
35 years$1,156$778$510$327$206$37
36 years$1,112$738$477$301$187$32
37 years$1,070$701$446$277$169$27
38 years$1,030$666$418$256$153$23
39 years$993$634$391$236$139$20
40 years$957$603$367$217$126$17
41 years$923$574$344$201$114$14
42 years$891$547$323$185$104$12
43 years$861$521$303$171$94$10
44 years$832$496$284$158$86$9
45 years$804$473$267$146$78$8
46 years$778$452$251$135$70$7
47 years$753$431$236$124$64$6
48 years$728$411$221$115$58$5
49 years$705$393$208$106$53$4
50 years$683$375$196$98$48$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $700,000, adding $3,718 every year, while hoping to spend $53,728 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: 29/42/29 Blend
46$700,000$700,000$700,000$700,000
47$775,235$738,135$727,285$790,706
48$797,143$717,138$694,483$782,277
49$819,485$693,310$658,781$768,327
50$842,248$666,458$620,026$752,267
51$865,417$636,374$578,057$733,952
52$888,972$602,840$532,705$713,232
53$912,892$565,624$483,795$689,942
54$937,149$524,482$431,144$663,914
55$961,712$479,154$374,561$634,964
56$986,542$429,368$313,844$602,901
57$1,011,597$374,835$248,786$567,521
58$1,036,827$315,249$179,167$528,608
59$1,062,175$250,288$104,761$485,935
60$1,087,576$179,611$25,329$439,258
61$1,112,955$102,858$0$388,322
62$1,138,227$19,650$0$351,246
63$1,163,298$0$0$318,911
64$1,188,058$0$0$315,791
65$1,212,387$0$0$321,553
66$1,236,146$0$0$327,070
67$1,259,181$0$0$332,291
68$1,281,320$0$0$337,157
69$1,302,368$0$0$341,605
70$1,322,110$0$0$345,564
71$1,340,302$0$0$348,954
72$1,356,676$0$0$351,686
73$1,370,929$0$0$353,662
74$1,382,725$0$0$354,772
75$1,391,692$0$0$354,893
76$1,397,413$0$0$353,891
77$1,399,426$0$0$351,614
78$1,397,219$0$0$347,897
79$1,390,220$0$0$342,553
80$1,377,797$0$0$335,379
81$1,359,249$0$0$326,146
82$1,333,799$0$0$314,602
83$1,300,583$0$0$300,470
84$1,258,648$0$0$283,441
85$1,206,935$0$0$263,172
86$1,144,275$0$0$239,287
87$1,069,372$0$0$211,368
88$980,792$0$0$178,953
89$876,952$0$0$141,531
90$756,097$0$0$98,539
91$616,291$0$0$49,352
92$455,391$0$0$0
93$271,031$0$0$0
94$60,595$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0