Can I retire at age 48 with 1,020,000?

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 $1,020,000?

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$84,231$83,480$82,748$82,034$81,336$78,357
2 years$41,698$40,922$40,169$39,439$38,732$35,763
3 years$27,523$26,743$25,992$25,269$24,573$21,709
4 years$20,436$19,659$18,916$18,205$17,526$14,787
5 years$16,186$15,413$14,679$13,983$13,323$10,718
6 years$13,353$12,586$11,863$11,182$10,542$8,072
7 years$11,330$10,569$9,858$9,194$8,573$6,238
8 years$9,814$9,060$8,361$7,712$7,112$4,909
9 years$8,635$7,888$7,201$6,569$5,990$3,916
10 years$7,692$6,953$6,278$5,663$5,103$3,156
11 years$6,922$6,190$5,527$4,928$4,389$2,563
12 years$6,280$5,556$4,905$4,323$3,804$2,094
13 years$5,738$5,021$4,382$3,816$3,317$1,720
14 years$5,273$4,564$3,938$3,388$2,907$1,418
15 years$4,871$4,169$3,555$3,021$2,560$1,173
16 years$4,519$3,825$3,223$2,705$2,262$972
17 years$4,209$3,523$2,933$2,431$2,006$808
18 years$3,934$3,255$2,677$2,190$1,784$673
19 years$3,688$3,017$2,451$1,979$1,590$561
20 years$3,467$2,803$2,249$1,793$1,420$468
21 years$3,267$2,611$2,069$1,627$1,271$391
22 years$3,085$2,438$1,907$1,479$1,139$327
23 years$2,920$2,280$1,761$1,347$1,023$274
24 years$2,769$2,136$1,628$1,229$919$229
25 years$2,630$2,005$1,508$1,122$827$192
26 years$2,502$1,884$1,399$1,026$745$161
27 years$2,383$1,773$1,299$939$672$135
28 years$2,273$1,671$1,208$860$606$113
29 years$2,171$1,576$1,124$789$547$95
30 years$2,076$1,488$1,047$724$494$79
31 years$1,988$1,407$976$665$447$67
32 years$1,905$1,331$910$611$404$56
33 years$1,827$1,261$850$562$366$47
34 years$1,754$1,195$794$517$331$39
35 years$1,685$1,133$743$476$300$33
36 years$1,620$1,076$695$438$272$28
37 years$1,559$1,022$650$404$246$23
38 years$1,501$971$609$372$223$20
39 years$1,446$923$570$343$203$16
40 years$1,395$879$535$317$184$14
41 years$1,345$836$501$292$167$12
42 years$1,299$796$470$270$151$10
43 years$1,254$759$441$249$137$8
44 years$1,212$723$414$230$125$7
45 years$1,172$690$389$212$113$6
46 years$1,133$658$365$196$103$5
47 years$1,097$628$343$181$93$4
48 years$1,061$599$323$167$85$3
49 years$1,028$572$303$155$77$3
50 years$996$547$285$143$70$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $1,020,000, adding $4,627 every year, while hoping to spend $59,720 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: 53/19/28 Blend
47$1,020,000$1,020,000$1,020,000$1,020,000
48$1,128,813$1,074,753$1,058,943$1,179,593
49$1,180,410$1,063,874$1,030,876$1,204,408
50$1,235,269$1,050,461$999,867$1,224,948
51$1,293,658$1,034,325$965,755$1,246,114
52$1,355,874$1,015,270$928,370$1,267,990
53$1,422,239$993,084$887,536$1,290,673
54$1,493,107$967,545$843,069$1,314,271
55$1,568,867$938,417$794,774$1,338,908
56$1,649,943$905,452$742,451$1,364,725
57$1,736,802$868,383$685,887$1,391,881
58$1,829,955$826,934$624,864$1,420,554
59$1,929,964$780,807$559,151$1,450,948
60$2,037,445$729,691$488,507$1,483,291
61$2,153,073$673,255$412,681$1,517,839
62$2,277,592$611,149$331,410$1,554,880
63$2,411,815$543,005$244,422$1,594,738
64$2,556,640$468,431$151,429$1,637,776
65$2,713,050$387,017$52,135$1,684,400
66$2,882,125$298,326$0$1,735,064
67$3,065,056$201,897$0$1,806,361
68$3,263,147$97,246$0$1,900,442
69$3,477,836$0$0$2,002,452
70$3,710,700$0$0$2,116,579
71$3,963,479$0$0$2,262,620
72$4,238,080$0$0$2,421,357
73$4,536,606$0$0$2,594,015
74$4,861,369$0$0$2,781,943
75$5,214,911$0$0$2,986,625
76$5,600,031$0$0$3,209,694
77$6,019,810$0$0$3,452,946
78$6,477,636$0$0$3,718,360
79$6,977,240$0$0$4,008,113
80$7,522,728$0$0$4,324,600
81$8,118,622$0$0$4,670,460
82$8,769,897$0$0$5,048,597
83$9,482,031$0$0$5,462,210
84$10,261,058$0$0$5,914,819
85$11,113,620$0$0$6,410,301
86$12,047,029$0$0$6,952,925
87$13,069,341$0$0$7,547,394
88$14,189,424$0$0$8,198,884
89$15,417,047$0$0$8,913,099
90$16,762,967$0$0$9,696,318
91$18,239,031$0$0$10,555,459
92$19,858,291$0$0$11,498,142
93$21,635,121$0$0$12,532,757
94$23,585,352$0$0$13,668,551
95$25,726,426$0$0$14,915,705
96$28,077,553$0$0$16,285,437
97$30,659,896$0$0$17,790,104
98$33,496,770$0$0$19,443,319
99$36,613,855$0$0$21,260,079
100$40,039,447$0$0$23,256,905