Retirement Savings at Age 47 Earning $150,000/Year
How much you should have saved, your projected retirement nest egg, and monthly income estimates using the 4% withdrawal rule.
Recommended Savings Target
$900,000
6Ã your $150,000 salary
Years to Retirement (Age 67)
20
years of compounding left
Projected Savings by Contribution Rate
| Saving Rate | Monthly | At Age 67 | Monthly Income* |
|---|---|---|---|
| 10% | $1,250 | $458,468 | $1,528/mo |
| 15% | $1,875 | $687,702 | $2,292/mo |
| 20% | $2,500 | $916,937 | $3,056/mo |
| 25% | $3,125 | $1,146,171 | $3,821/mo |
* Monthly income based on 4% withdrawal rule. Assumes 4% real return (7% nominal â 3% inflation). Starting from $0 today.
Savings Milestones (at 15% savings rate)
$100,000
Age 52
5 years
$250,000
Age 57
10 years
$500,000
Age 63
16 years
$1,000,000
Age 73
26 years
Retirement Planning at Age 47
At 47, you should have roughly 6Ã your salary ($900,000) saved for retirement. If you're behind, consider maximizing catch-up contributions to 401(k)s ($7,500 extra/year for those 50+) and IRAs ($1,000 extra/year). You still have 20 years of growth ahead.
Use our FIRE calculator for early retirement scenarios, or check our net worth benchmarks at age 47.
Retirement at Age 47 â Other Income Levels
$30,000/yr$40,000/yr$50,000/yr$60,000/yr$75,000/yr$80,000/yr$90,000/yr$100,000/yr$120,000/yr$140,000/yr