Can I retire at age 47 with 710,000?

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 $710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$58,631$58,109$57,599$57,102$56,616$54,392
2 years$29,025$28,485$27,961$27,453$26,960$24,746
3 years$19,158$18,615$18,093$17,589$17,105$14,971
4 years$14,225$13,684$13,167$12,672$12,199$10,162
5 years$11,266$10,728$10,218$9,733$9,274$7,338
6 years$9,295$8,761$8,258$7,784$7,338$5,505
7 years$7,887$7,357$6,862$6,400$5,968$4,237
8 years$6,831$6,306$5,820$5,368$4,951$3,321
9 years$6,011$5,491$5,012$4,573$4,169$2,638
10 years$5,355$4,840$4,370$3,942$3,552$2,116
11 years$4,818$4,309$3,847$3,430$3,055$1,711
12 years$4,372$3,867$3,414$3,009$2,648$1,392
13 years$3,994$3,495$3,050$2,656$2,309$1,137
14 years$3,670$3,177$2,741$2,358$2,024$933
15 years$3,390$2,902$2,475$2,103$1,782$768
16 years$3,146$2,663$2,244$1,883$1,575$633
17 years$2,930$2,452$2,042$1,692$1,396$524
18 years$2,738$2,266$1,864$1,525$1,242$434
19 years$2,567$2,100$1,706$1,378$1,107$360
20 years$2,413$1,951$1,566$1,248$989$298
21 years$2,274$1,818$1,440$1,132$885$248
22 years$2,148$1,697$1,327$1,030$793$206
23 years$2,033$1,587$1,226$938$712$172
24 years$1,927$1,487$1,133$855$640$143
25 years$1,830$1,395$1,050$781$576$119
26 years$1,741$1,311$974$714$519$99
27 years$1,659$1,234$904$654$468$83
28 years$1,582$1,163$841$599$422$69
29 years$1,511$1,097$782$549$381$57
30 years$1,445$1,036$729$504$344$48
31 years$1,383$979$679$463$311$40
32 years$1,326$927$634$425$281$33
33 years$1,272$878$592$391$255$28
34 years$1,221$832$553$360$231$23
35 years$1,173$789$517$331$209$19
36 years$1,128$749$484$305$189$16
37 years$1,085$711$453$281$172$13
38 years$1,045$676$424$259$156$11
39 years$1,007$643$397$239$141$9
40 years$971$612$372$220$128$8
41 years$936$582$349$203$116$7
42 years$904$554$327$188$105$5
43 years$873$528$307$173$96$5
44 years$844$503$288$160$87$4
45 years$816$480$271$148$79$3
46 years$789$458$254$136$72$3
47 years$763$437$239$126$65$2
48 years$739$417$225$117$59$2
49 years$716$398$211$108$54$2
50 years$693$381$198$100$49$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $710,000, adding $2,555 every year, while hoping to spend $31,861 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: 43/44/13 Blend
46$710,000$710,000$710,000$710,000
47$785,055$747,425$736,420$815,746
48$831,231$750,149$727,191$840,193
49$881,049$751,939$716,584$863,275
50$934,847$752,715$704,520$887,582
51$992,996$752,393$690,916$913,239
52$1,055,904$750,882$675,685$940,388
53$1,124,020$748,090$658,734$969,183
54$1,197,837$743,913$639,968$999,800
55$1,277,897$738,245$619,288$1,032,432
56$1,364,796$730,973$596,588$1,067,296
57$1,459,191$721,976$571,759$1,104,633
58$1,561,802$711,126$544,686$1,144,710
59$1,673,423$698,289$515,251$1,187,824
60$1,794,928$683,320$483,327$1,234,307
61$1,927,277$666,069$448,785$1,284,527
62$2,071,527$646,375$411,487$1,338,891
63$2,228,842$624,067$371,291$1,397,855
64$2,400,503$598,965$328,049$1,461,921
65$2,587,920$570,880$281,604$1,531,649
66$2,792,644$539,609$231,793$1,607,660
67$3,016,383$504,939$178,448$1,690,643
68$3,261,019$466,646$121,391$1,781,360
69$3,528,623$424,491$60,437$1,880,658
70$3,821,473$378,222$0$1,989,476
71$4,142,082$327,574$0$2,109,494
72$4,493,214$272,264$0$2,250,212
73$4,877,913$211,996$0$2,404,543
74$5,299,533$146,457$0$2,573,932
75$5,761,766$75,314$0$2,759,975
76$6,268,680$0$0$2,964,437
77$6,824,755$0$0$3,190,135
78$7,434,924$0$0$3,477,888
79$8,104,623$0$0$3,793,807
80$8,839,838$0$0$4,140,727
81$9,647,164$0$0$4,521,771
82$10,533,866$0$0$4,940,380
83$11,507,947$0$0$5,400,345
84$12,578,222$0$0$5,905,842
85$13,754,403$0$0$6,461,471
86$15,047,191$0$0$7,072,302
87$16,468,373$0$0$7,743,917
88$18,030,937$0$0$8,482,471
89$19,749,190$0$0$9,294,739
90$21,638,896$0$0$10,188,192
91$23,717,423$0$0$11,171,056
92$26,003,909$0$0$12,252,398
93$28,519,436$0$0$13,442,206
94$31,287,235$0$0$14,751,487
95$34,332,903$0$0$16,192,367
96$37,684,641$0$0$17,778,209
97$41,373,525$0$0$19,523,734
98$45,433,795$0$0$21,445,165
99$49,903,176$0$0$23,560,377
100$54,823,242$0$0$25,889,067