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%18.4%
1 years$57,805$57,290$56,788$56,298$55,819$53,924
2 years$28,617$28,084$27,567$27,066$26,580$24,691
3 years$18,888$18,353$17,838$17,342$16,864$15,038
4 years$14,025$13,491$12,981$12,494$12,027$10,280
5 years$11,108$10,577$10,074$9,596$9,143$7,478
6 years$9,164$8,637$8,141$7,674$7,235$5,654
7 years$7,776$7,254$6,765$6,309$5,884$4,387
8 years$6,735$6,218$5,738$5,293$4,881$3,467
9 years$5,926$5,414$4,942$4,508$4,111$2,777
10 years$5,279$4,772$4,308$3,886$3,502$2,248
11 years$4,750$4,248$3,793$3,382$3,012$1,834
12 years$4,310$3,813$3,366$2,967$2,610$1,506
13 years$3,938$3,446$3,008$2,619$2,276$1,242
14 years$3,619$3,132$2,702$2,325$1,995$1,029
15 years$3,343$2,861$2,440$2,073$1,757$856
16 years$3,101$2,625$2,212$1,857$1,553$713
17 years$2,889$2,418$2,013$1,668$1,377$596
18 years$2,700$2,234$1,837$1,503$1,224$498
19 years$2,531$2,070$1,682$1,358$1,091$418
20 years$2,379$1,924$1,544$1,230$975$350
21 years$2,242$1,792$1,420$1,117$872$294
22 years$2,117$1,673$1,309$1,015$782$247
23 years$2,004$1,565$1,208$925$702$208
24 years$1,900$1,466$1,118$843$631$175
25 years$1,805$1,376$1,035$770$568$148
26 years$1,717$1,293$960$704$511$124
27 years$1,635$1,217$891$645$461$105
28 years$1,560$1,147$829$591$416$88
29 years$1,490$1,082$771$542$376$75
30 years$1,425$1,021$718$497$339$63
31 years$1,364$966$670$456$307$53
32 years$1,307$914$625$419$278$45
33 years$1,254$865$583$386$251$38
34 years$1,203$820$545$355$227$32
35 years$1,156$778$510$327$206$27
36 years$1,112$738$477$301$187$23
37 years$1,070$701$446$277$169$19
38 years$1,030$666$418$256$153$16
39 years$993$634$391$236$139$14
40 years$957$603$367$217$126$12
41 years$923$574$344$201$114$10
42 years$891$547$323$185$104$8
43 years$861$521$303$171$94$7
44 years$832$496$284$158$86$6
45 years$804$473$267$146$78$5
46 years$778$452$251$135$70$4
47 years$753$431$236$124$64$4
48 years$728$411$221$115$58$3
49 years$705$393$208$106$53$3
50 years$683$375$196$98$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $700,000, adding $5,981 every year, while hoping to spend $40,115 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: 50/21/29 Blend
46$700,000$700,000$700,000$700,000
47$777,569$740,469$729,619$809,799
48$814,199$734,070$711,380$826,574
49$853,221$726,013$691,184$840,343
50$894,836$716,175$668,926$854,533
51$939,266$704,423$644,491$869,203
52$986,752$690,620$617,762$884,420
53$1,037,559$674,619$588,615$900,262
54$1,091,978$656,264$556,922$916,817
55$1,150,329$635,390$522,548$934,182
56$1,212,961$611,823$485,352$952,471
57$1,280,258$585,377$445,187$971,811
58$1,352,643$555,859$401,898$992,344
59$1,430,577$523,061$355,327$1,014,233
60$1,514,569$486,764$305,304$1,037,658
61$1,605,178$446,739$251,654$1,062,825
62$1,703,017$402,740$194,196$1,089,964
63$1,808,760$354,509$132,736$1,119,331
64$1,923,148$301,774$67,077$1,151,214
65$2,046,995$244,247$0$1,185,938
66$2,181,197$181,624$0$1,224,789
67$2,326,738$113,582$0$1,289,456
68$2,484,700$39,782$0$1,359,681
69$2,656,274$0$0$1,436,042
70$2,842,770$0$0$1,528,451
71$3,045,628$0$0$1,639,032
72$3,266,435$0$0$1,759,464
73$3,506,933$0$0$1,890,708
74$3,769,043$0$0$2,033,820
75$4,054,877$0$0$2,189,962
76$4,366,760$0$0$2,360,415
77$4,707,251$0$0$2,546,587
78$5,079,167$0$0$2,750,028
79$5,485,609$0$0$2,972,447
80$5,929,992$0$0$3,215,724
81$6,416,075$0$0$3,481,927
82$6,947,997$0$0$3,773,336
83$7,530,315$0$0$4,092,460
84$8,168,049$0$0$4,442,064
85$8,866,726$0$0$4,825,192
86$9,632,432$0$0$5,245,194
87$10,471,871$0$0$5,705,763
88$11,392,427$0$0$6,210,966
89$12,402,230$0$0$6,765,280
90$13,510,238$0$0$7,373,639
91$14,726,317$0$0$8,041,478
92$16,061,334$0$0$8,774,782
93$17,527,260$0$0$9,580,144
94$19,137,282$0$0$10,464,829
95$20,905,927$0$0$11,436,838
96$22,849,198$0$0$12,504,987
97$24,984,725$0$0$13,678,988
98$27,331,931$0$0$14,969,539
99$29,912,212$0$0$16,388,428
100$32,749,144$0$0$17,948,641