Can I retire at age 47 with 720,000?

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 $720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$59,457$58,927$58,411$57,906$57,414$55,935
2 years$29,434$28,886$28,355$27,840$27,340$25,860
3 years$19,428$18,877$18,347$17,837$17,346$15,911
4 years$14,426$13,877$13,352$12,851$12,371$10,992
5 years$11,425$10,880$10,362$9,870$9,404$8,085
6 years$9,425$8,884$8,374$7,894$7,441$6,184
7 years$7,998$7,461$6,959$6,490$6,052$4,855
8 years$6,927$6,395$5,902$5,444$5,020$3,885
9 years$6,095$5,568$5,083$4,637$4,228$3,152
10 years$5,430$4,908$4,431$3,997$3,602$2,585
11 years$4,886$4,369$3,901$3,479$3,098$2,138
12 years$4,433$3,922$3,462$3,051$2,685$1,780
13 years$4,050$3,544$3,093$2,694$2,341$1,490
14 years$3,722$3,221$2,779$2,391$2,052$1,252
15 years$3,438$2,943$2,509$2,133$1,807$1,056
16 years$3,190$2,700$2,275$1,910$1,597$894
17 years$2,971$2,487$2,070$1,716$1,416$758
18 years$2,777$2,298$1,890$1,546$1,259$644
19 years$2,603$2,130$1,730$1,397$1,122$549
20 years$2,447$1,979$1,588$1,265$1,002$468
21 years$2,306$1,843$1,461$1,148$897$399
22 years$2,178$1,721$1,346$1,044$804$341
23 years$2,061$1,609$1,243$951$722$292
24 years$1,954$1,508$1,149$867$649$250
25 years$1,856$1,415$1,065$792$584$214
26 years$1,766$1,330$987$724$526$183
27 years$1,682$1,252$917$663$474$157
28 years$1,605$1,179$852$607$428$135
29 years$1,533$1,113$793$557$386$116
30 years$1,466$1,051$739$511$349$99
31 years$1,403$993$689$469$316$85
32 years$1,344$940$643$431$285$73
33 years$1,289$890$600$397$258$63
34 years$1,238$844$561$365$234$54
35 years$1,189$800$524$336$212$46
36 years$1,144$759$490$309$192$40
37 years$1,100$721$459$285$174$34
38 years$1,060$685$430$263$158$29
39 years$1,021$652$403$242$143$25
40 years$984$620$377$224$130$22
41 years$950$590$354$206$118$19
42 years$917$562$332$190$107$16
43 years$885$536$312$176$97$14
44 years$855$511$292$162$88$12
45 years$827$487$275$150$80$10
46 years$800$464$258$138$73$9
47 years$774$443$242$128$66$8
48 years$749$423$228$118$60$6
49 years$726$404$214$109$54$6
50 years$703$386$201$101$49$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $720,000, adding $5,638 every year, while hoping to spend $59,058 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: 66/5/29 Blend
46$720,000$720,000$720,000$720,000
47$799,256$761,096$749,936$845,539
48$817,942$735,552$712,221$851,944
49$836,556$706,777$671,264$851,854
50$855,026$674,551$626,893$850,461
51$873,275$638,640$578,929$847,642
52$891,212$598,796$527,187$843,263
53$908,738$554,760$471,470$837,179
54$925,740$506,254$411,575$829,234
55$942,092$452,987$347,290$819,255
56$957,653$394,651$278,392$807,059
57$972,265$330,920$204,649$792,443
58$985,750$261,449$125,818$775,189
59$997,911$185,875$41,648$755,058
60$1,008,529$103,814$0$731,791
61$1,017,358$14,860$0$720,014
62$1,024,125$0$0$719,234
63$1,028,527$0$0$720,784
64$1,030,226$0$0$721,161
65$1,028,847$0$0$719,271
66$1,023,974$0$0$714,813
67$1,015,145$0$0$707,448
68$1,001,847$0$0$696,803
69$983,512$0$0$682,464
70$959,511$0$0$663,972
71$929,145$0$0$640,818
72$891,642$0$0$612,441
73$846,148$0$0$578,215
74$791,715$0$0$537,453
75$727,297$0$0$489,392
76$651,735$0$0$433,187
77$563,749$0$0$367,907
78$461,922$0$0$292,520
79$344,691$0$0$205,886
80$210,325$0$0$106,747
81$56,913$0$0$0
82$0$0$0$0
83$0$0$0$0
84$0$0$0$0
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$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