Can I retire at age 47 with 740,000?

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 $740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$61,109$60,564$60,033$59,515$59,009$56,847
2 years$30,252$29,688$29,142$28,613$28,099$25,946
3 years$19,967$19,402$18,857$18,333$17,827$15,749
4 years$14,826$14,262$13,723$13,208$12,715$10,728
5 years$11,743$11,182$10,650$10,145$9,665$7,776
6 years$9,687$9,131$8,607$8,113$7,648$5,856
7 years$8,220$7,668$7,152$6,670$6,220$4,526
8 years$7,120$6,573$6,066$5,595$5,160$3,562
9 years$6,265$5,723$5,224$4,766$4,345$2,841
10 years$5,581$5,044$4,555$4,108$3,703$2,289
11 years$5,022$4,491$4,010$3,575$3,184$1,859
12 years$4,556$4,031$3,559$3,136$2,759$1,519
13 years$4,163$3,643$3,179$2,769$2,406$1,248
14 years$3,826$3,311$2,857$2,458$2,109$1,029
15 years$3,534$3,025$2,579$2,192$1,857$851
16 years$3,278$2,775$2,338$1,963$1,641$705
17 years$3,054$2,556$2,128$1,763$1,455$586
18 years$2,854$2,362$1,942$1,589$1,294$488
19 years$2,675$2,189$1,778$1,436$1,153$407
20 years$2,515$2,034$1,632$1,301$1,030$340
21 years$2,370$1,894$1,501$1,180$922$284
22 years$2,238$1,768$1,383$1,073$826$237
23 years$2,119$1,654$1,277$977$742$198
24 years$2,009$1,550$1,181$891$667$166
25 years$1,908$1,454$1,094$814$600$139
26 years$1,815$1,367$1,015$744$540$117
27 years$1,729$1,286$942$681$487$98
28 years$1,649$1,212$876$624$440$82
29 years$1,575$1,143$815$572$397$69
30 years$1,506$1,080$759$525$359$58
31 years$1,442$1,021$708$483$324$48
32 years$1,382$966$661$443$293$41
33 years$1,325$915$617$408$266$34
34 years$1,272$867$576$375$240$29
35 years$1,222$822$539$345$218$24
36 years$1,175$780$504$318$197$20
37 years$1,131$741$472$293$179$17
38 years$1,089$704$442$270$162$14
39 years$1,049$670$414$249$147$12
40 years$1,012$637$388$230$133$10
41 years$976$607$364$212$121$8
42 years$942$578$341$196$110$7
43 years$910$551$320$181$100$6
44 years$879$525$301$167$90$5
45 years$850$500$282$154$82$4
46 years$822$477$265$142$75$3
47 years$796$456$249$131$68$3
48 years$770$435$234$121$61$2
49 years$746$415$220$112$56$2
50 years$722$397$207$104$51$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $740,000, adding $5,904 every year, while hoping to spend $40,823 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: 48/30/22 Blend
46$740,000$740,000$740,000$740,000
47$821,570$782,350$770,880$855,626
48$861,935$777,250$753,269$874,886
49$905,049$770,531$733,700$891,224
50$951,149$762,073$712,064$908,128
51$1,000,495$751,744$688,248$925,668
52$1,053,373$739,407$662,132$943,925
53$1,110,096$724,916$633,592$962,990
54$1,171,007$708,118$602,498$982,967
55$1,236,483$688,849$568,715$1,003,973
56$1,306,937$666,936$532,100$1,026,140
57$1,382,824$642,195$492,505$1,049,617
58$1,464,643$614,434$449,775$1,074,572
59$1,552,942$583,446$403,747$1,101,194
60$1,648,323$549,016$354,253$1,129,695
61$1,751,447$510,913$301,116$1,160,312
62$1,863,043$468,895$244,152$1,193,312
63$1,983,909$422,707$183,166$1,228,993
64$2,114,924$372,077$117,960$1,267,691
65$2,257,056$316,718$48,321$1,309,778
66$2,411,368$256,329$0$1,355,671
67$2,579,028$190,590$0$1,411,940
68$2,761,323$119,163$0$1,485,503
69$2,959,668$41,692$0$1,565,641
70$3,175,619$0$0$1,653,060
71$3,410,891$0$0$1,762,472
72$3,667,369$0$0$1,896,823
73$3,947,127$0$0$2,043,447
74$4,252,449$0$0$2,203,551
75$4,585,850$0$0$2,378,463
76$4,950,097$0$0$2,569,646
77$5,348,237$0$0$2,778,710
78$5,783,623$0$0$3,007,428
79$6,259,950$0$0$3,257,751
80$6,781,283$0$0$3,531,830
81$7,352,101$0$0$3,832,032
82$7,977,336$0$0$4,160,962
83$8,662,416$0$0$4,521,492
84$9,413,324$0$0$4,916,784
85$10,236,646$0$0$5,350,320
86$11,139,636$0$0$5,825,935
87$12,130,284$0$0$6,347,855
88$13,217,393$0$0$6,920,731
89$14,410,656$0$0$7,549,692
90$15,720,753$0$0$8,240,382
91$17,159,446$0$0$8,999,022
92$18,739,693$0$0$9,832,464
93$20,475,770$0$0$10,748,257
94$22,383,403$0$0$11,754,716
95$24,479,917$0$0$12,861,004
96$26,784,397$0$0$14,077,213
97$29,317,871$0$0$15,414,463
98$32,103,505$0$0$16,885,007
99$35,166,824$0$0$18,502,341
100$38,535,947$0$0$20,281,338