Can I retire at age 48 with 1,010,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,010,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$83,405$82,662$81,937$81,230$80,539$79,665
2 years$41,290$40,521$39,775$39,053$38,352$37,472
3 years$27,253$26,481$25,737$25,021$24,332$23,473
4 years$20,236$19,466$18,730$18,027$17,354$16,523
5 years$16,027$15,262$14,535$13,846$13,192$12,391
6 years$13,222$12,462$11,747$11,073$10,438$9,669
7 years$11,219$10,466$9,762$9,104$8,489$7,752
8 years$9,717$8,971$8,279$7,637$7,043$6,337
9 years$8,550$7,811$7,130$6,505$5,931$5,256
10 years$7,617$6,885$6,216$5,607$5,053$4,410
11 years$6,854$6,129$5,473$4,880$4,346$3,733
12 years$6,219$5,501$4,857$4,280$3,766$3,183
13 years$5,681$4,972$4,339$3,779$3,284$2,730
14 years$5,221$4,519$3,899$3,355$2,879$2,353
15 years$4,823$4,128$3,520$2,992$2,535$2,036
16 years$4,475$3,788$3,192$2,679$2,240$1,768
17 years$4,168$3,488$2,904$2,407$1,986$1,540
18 years$3,895$3,223$2,651$2,169$1,766$1,344
19 years$3,652$2,987$2,427$1,960$1,574$1,176
20 years$3,433$2,776$2,227$1,775$1,406$1,031
21 years$3,235$2,586$2,049$1,611$1,258$905
22 years$3,055$2,414$1,888$1,465$1,128$796
23 years$2,891$2,257$1,743$1,334$1,013$701
24 years$2,742$2,115$1,612$1,217$910$618
25 years$2,604$1,985$1,493$1,111$819$545
26 years$2,477$1,865$1,385$1,016$738$481
27 years$2,360$1,756$1,286$930$665$425
28 years$2,251$1,654$1,196$852$600$375
29 years$2,150$1,561$1,113$781$542$332
30 years$2,056$1,474$1,036$717$490$294
31 years$1,968$1,393$966$659$443$260
32 years$1,886$1,318$901$605$400$230
33 years$1,809$1,248$842$557$362$204
34 years$1,736$1,183$786$512$328$181
35 years$1,668$1,122$735$471$297$160
36 years$1,604$1,065$688$434$269$142
37 years$1,544$1,012$644$400$244$126
38 years$1,486$962$603$369$221$112
39 years$1,432$914$565$340$201$99
40 years$1,381$870$529$314$182$88
41 years$1,332$828$496$289$165$78
42 years$1,286$789$466$267$150$69
43 years$1,242$751$437$246$136$61
44 years$1,200$716$410$228$123$54
45 years$1,160$683$385$210$112$48
46 years$1,122$652$362$194$102$43
47 years$1,086$622$340$179$92$38
48 years$1,051$594$319$166$84$34
49 years$1,018$567$300$153$76$30
50 years$986$541$282$142$69$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $1,010,000, adding $6,833 every year, while hoping to spend $23,001 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: 83/12/5 Blend
47$1,010,000$1,010,000$1,010,000$1,010,000
48$1,120,068$1,066,538$1,050,883$1,212,392
49$1,209,842$1,094,326$1,061,615$1,301,464
50$1,308,002$1,122,704$1,071,935$1,395,424
51$1,415,380$1,151,677$1,081,806$1,497,868
52$1,532,889$1,181,250$1,091,187$1,609,632
53$1,661,539$1,211,426$1,100,037$1,731,637
54$1,802,438$1,242,208$1,108,310$1,864,894
55$1,956,808$1,273,598$1,115,960$2,010,520
56$2,125,996$1,305,598$1,122,938$2,169,744
57$2,311,483$1,338,208$1,129,192$2,343,918
58$2,514,902$1,371,427$1,134,668$2,534,533
59$2,738,050$1,405,256$1,139,307$2,743,229
60$2,982,908$1,439,690$1,143,051$2,971,817
61$3,251,658$1,474,728$1,145,836$3,222,285
62$3,546,701$1,510,364$1,147,596$3,496,830
63$3,870,685$1,546,593$1,148,261$3,797,866
64$4,226,526$1,583,406$1,147,759$4,128,057
65$4,617,435$1,620,796$1,146,012$4,490,335
66$5,046,950$1,658,752$1,142,940$4,887,932
67$5,518,969$1,697,262$1,138,459$5,324,406
68$6,037,788$1,736,311$1,132,481$5,803,679
69$6,608,136$1,775,884$1,124,913$6,330,072
70$7,235,226$1,815,963$1,115,658$6,908,346
71$7,924,801$1,856,527$1,104,615$7,543,744
72$8,683,188$1,897,554$1,091,676$8,242,046
73$9,517,356$1,939,017$1,076,731$9,009,619
74$10,434,987$1,980,890$1,059,662$9,853,478
75$11,444,543$2,023,140$1,040,347$10,781,353
76$12,555,346$2,065,734$1,018,659$11,801,761
77$13,777,671$2,108,634$994,463$12,924,086
78$15,122,835$2,151,799$967,620$14,158,670
79$16,603,312$2,195,185$937,982$15,516,907
80$18,232,842$2,238,741$905,397$17,011,353
81$20,026,568$2,282,416$869,704$18,655,841
82$22,001,174$2,326,150$830,735$20,465,618
83$24,175,045$2,369,883$788,316$22,457,482
84$26,568,438$2,413,545$742,263$24,649,943
85$29,203,675$2,457,065$692,385$27,063,400
86$32,105,351$2,500,362$638,481$29,720,329
87$35,300,569$2,543,353$580,343$32,645,499
88$38,819,195$2,585,945$517,752$35,866,203
89$42,694,137$2,628,040$450,480$39,412,518
90$46,961,657$2,669,532$378,290$43,317,586
91$51,661,714$2,710,308$300,931$47,617,930
92$56,838,342$2,750,246$218,145$52,353,795
93$62,540,061$2,789,215$129,661$57,569,532
94$68,820,337$2,827,077$35,194$63,314,012
95$75,738,089$2,863,681$0$69,641,092
96$83,358,241$2,898,869$0$76,613,620
97$91,752,337$2,932,469$0$84,295,728
98$100,999,214$2,964,299$0$92,757,622
99$111,185,750$2,994,165$0$102,078,741
100$122,407,677$3,021,860$0$112,346,623