Can I retire at age 46 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$102,398$101,486$100,596$99,727$98,879$98,051
2 years$50,692$49,748$48,833$47,946$47,085$46,250
3 years$33,459$32,511$31,598$30,719$29,873$29,057
4 years$24,844$23,899$22,995$22,132$21,306$20,516
5 years$19,677$18,737$17,845$16,999$16,196$15,434
6 years$16,233$15,300$14,422$13,594$12,815$12,082
7 years$13,774$12,849$11,985$11,177$10,422$9,719
8 years$11,930$11,014$10,164$9,376$8,646$7,972
9 years$10,497$9,590$8,754$7,986$7,282$6,636
10 years$9,352$8,453$7,632$6,884$6,204$5,587
11 years$8,415$7,525$6,719$5,991$5,336$4,747
12 years$7,635$6,754$5,963$5,255$4,624$4,063
13 years$6,975$6,104$5,328$4,640$4,032$3,498
14 years$6,410$5,548$4,787$4,118$3,535$3,027
15 years$5,921$5,068$4,322$3,673$3,112$2,630
16 years$5,494$4,650$3,918$3,289$2,750$2,293
17 years$5,117$4,283$3,566$2,955$2,439$2,006
18 years$4,782$3,957$3,255$2,663$2,168$1,759
19 years$4,483$3,668$2,980$2,406$1,933$1,546
20 years$4,214$3,408$2,735$2,179$1,726$1,361
21 years$3,971$3,174$2,515$1,978$1,545$1,200
22 years$3,751$2,963$2,318$1,798$1,385$1,060
23 years$3,550$2,771$2,141$1,638$1,243$937
24 years$3,366$2,597$1,980$1,494$1,117$830
25 years$3,197$2,437$1,834$1,364$1,005$735
26 years$3,041$2,290$1,701$1,247$906$652
27 years$2,897$2,155$1,579$1,142$817$579
28 years$2,764$2,031$1,468$1,046$737$514
29 years$2,640$1,916$1,366$959$665$457
30 years$2,524$1,810$1,272$880$601$406
31 years$2,416$1,711$1,186$809$543$361
32 years$2,315$1,619$1,107$743$492$322
33 years$2,221$1,533$1,033$683$445$286
34 years$2,132$1,453$966$629$403$255
35 years$2,048$1,378$903$579$365$227
36 years$1,969$1,308$844$533$331$202
37 years$1,895$1,242$790$491$300$180
38 years$1,825$1,180$740$453$272$161
39 years$1,758$1,123$693$417$246$143
40 years$1,695$1,068$650$385$223$128
41 years$1,635$1,017$609$355$203$114
42 years$1,579$968$572$328$184$102
43 years$1,525$922$536$303$167$91
44 years$1,473$879$504$279$152$81
45 years$1,424$839$473$258$138$72
46 years$1,378$800$444$238$125$64
47 years$1,333$763$417$220$113$57
48 years$1,290$729$392$203$103$51
49 years$1,250$696$369$188$94$46
50 years$1,211$665$346$174$85$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 46 starting with $1,240,000, adding $2,834 every year, while hoping to spend $29,686 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: 60/29/11 Blend
45$1,240,000$1,240,000$1,240,000$1,240,000
46$1,369,403$1,303,683$1,284,463$1,447,836
47$1,477,497$1,335,978$1,295,907$1,533,162
48$1,595,621$1,368,860$1,306,739$1,622,579
49$1,724,767$1,402,328$1,316,908$1,719,389
50$1,866,028$1,436,376$1,326,359$1,824,307
51$2,020,605$1,471,001$1,335,035$1,938,119
52$2,189,823$1,506,196$1,342,874$2,061,693
53$2,375,139$1,541,954$1,349,815$2,195,983
54$2,578,159$1,578,266$1,355,790$2,342,040
55$2,800,651$1,615,121$1,360,728$2,501,023
56$3,044,562$1,652,506$1,364,557$2,674,206
57$3,312,037$1,690,408$1,367,199$2,862,995
58$3,605,437$1,728,811$1,368,573$3,068,937
59$3,927,365$1,767,695$1,368,593$3,293,738
60$4,280,686$1,807,042$1,367,171$3,539,275
61$4,668,556$1,846,827$1,364,211$3,807,620
62$5,094,453$1,887,026$1,359,617$4,101,051
63$5,562,208$1,927,611$1,353,284$4,422,082
64$6,076,039$1,968,550$1,345,105$4,773,481
65$6,640,596$2,009,809$1,334,967$5,158,298
66$7,260,998$2,051,352$1,322,750$5,579,894
67$7,942,888$2,093,136$1,308,330$6,041,973
68$8,692,480$2,135,117$1,291,577$6,548,617
69$9,516,623$2,177,248$1,272,354$7,104,322
70$10,422,859$2,219,474$1,250,519$7,714,044
71$11,419,502$2,261,739$1,225,922$8,383,246
72$12,515,707$2,303,980$1,198,407$9,117,945
73$13,721,565$2,346,131$1,167,810$9,924,773
74$15,048,192$2,388,119$1,133,959$10,811,040
75$16,507,837$2,429,866$1,096,675$11,784,800
76$18,113,994$2,471,287$1,055,772$12,854,929
77$19,881,533$2,512,292$1,011,052$14,031,210
78$21,826,839$2,552,784$962,311$15,324,423
79$23,967,964$2,592,657$909,336$16,746,448
80$26,324,799$2,631,800$851,902$18,310,378
81$28,919,262$2,670,093$789,774$20,030,642
82$31,775,505$2,707,405$722,710$21,923,142
83$34,920,139$2,743,600$650,453$24,005,403
84$38,382,486$2,778,530$572,736$26,296,739
85$42,194,859$2,812,037$489,282$28,818,433
86$46,392,860$2,843,953$399,799$31,593,943
87$51,015,723$2,874,097$303,983$34,649,121
88$56,106,677$2,902,279$201,517$38,012,457
89$61,713,361$2,928,293$92,070$41,715,348
90$67,888,265$2,951,921$0$45,792,397
91$74,689,235$2,972,932$0$50,284,641
92$82,180,009$2,991,077$0$55,242,926
93$90,430,825$3,006,095$0$60,702,795
94$99,519,080$3,017,705$0$66,715,338
95$109,530,063$3,025,609$0$73,336,857
96$120,557,757$3,029,492$0$80,629,397
97$132,705,729$3,029,018$0$88,661,334
98$146,088,103$3,023,829$0$97,508,019
99$160,830,640$3,013,547$0$107,252,490
100$177,071,925$2,997,771$0$117,986,255