Can I retire at age 48 with 1,030,000?

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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$85,056$84,299$83,560$82,838$82,134$79,696
2 years$42,107$41,323$40,563$39,826$39,111$36,676
3 years$27,793$27,005$26,247$25,517$24,814$22,456
4 years$20,637$19,852$19,101$18,384$17,697$15,436
5 years$16,344$15,564$14,823$14,120$13,453$11,295
6 years$13,484$12,709$11,979$11,292$10,645$8,591
7 years$11,441$10,673$9,955$9,284$8,657$6,707
8 years$9,910$9,149$8,443$7,788$7,182$5,335
9 years$8,720$7,966$7,272$6,634$6,048$4,303
10 years$7,768$7,021$6,339$5,718$5,154$3,507
11 years$6,990$6,251$5,581$4,977$4,432$2,882
12 years$6,342$5,610$4,953$4,365$3,841$2,383
13 years$5,794$5,070$4,425$3,854$3,349$1,981
14 years$5,325$4,609$3,976$3,421$2,936$1,654
15 years$4,918$4,210$3,590$3,051$2,585$1,385
16 years$4,563$3,863$3,255$2,732$2,285$1,164
17 years$4,250$3,557$2,962$2,454$2,026$980
18 years$3,972$3,287$2,704$2,212$1,801$827
19 years$3,724$3,046$2,475$1,999$1,605$699
20 years$3,501$2,831$2,272$1,810$1,434$591
21 years$3,299$2,637$2,089$1,643$1,283$501
22 years$3,116$2,461$1,926$1,494$1,150$425
23 years$2,949$2,302$1,778$1,360$1,033$360
24 years$2,796$2,157$1,644$1,241$928$306
25 years$2,655$2,024$1,523$1,133$835$260
26 years$2,526$1,902$1,413$1,036$752$221
27 years$2,407$1,790$1,312$948$678$188
28 years$2,296$1,687$1,219$869$612$160
29 years$2,193$1,592$1,135$797$553$136
30 years$2,097$1,503$1,057$731$499$116
31 years$2,007$1,421$985$672$451$99
32 years$1,923$1,344$919$617$408$84
33 years$1,845$1,273$858$568$370$72
34 years$1,771$1,207$802$522$335$61
35 years$1,701$1,145$750$481$303$52
36 years$1,636$1,086$701$443$275$44
37 years$1,574$1,032$657$408$249$38
38 years$1,516$981$615$376$226$32
39 years$1,461$932$576$347$205$27
40 years$1,408$887$540$320$186$23
41 years$1,359$844$506$295$168$20
42 years$1,311$804$475$272$153$17
43 years$1,266$766$446$251$139$14
44 years$1,224$730$418$232$126$12
45 years$1,183$697$393$214$114$11
46 years$1,144$664$369$198$104$9
47 years$1,107$634$347$183$94$8
48 years$1,072$605$326$169$86$7
49 years$1,038$578$306$156$78$6
50 years$1,006$552$288$144$71$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $1,030,000, adding $2,376 every year, while hoping to spend $26,685 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: 58/31/11 Blend
47$1,030,000$1,030,000$1,030,000$1,030,000
48$1,137,511$1,082,921$1,066,956$1,200,312
49$1,225,144$1,107,591$1,074,306$1,267,589
50$1,320,822$1,132,576$1,081,008$1,337,699
51$1,425,336$1,157,863$1,087,013$1,413,478
52$1,539,560$1,183,437$1,092,267$1,495,473
53$1,664,452$1,209,283$1,096,715$1,584,286
54$1,801,071$1,235,382$1,100,299$1,680,581
55$1,950,580$1,261,717$1,102,960$1,785,089
56$2,114,263$1,288,264$1,104,632$1,898,616
57$2,293,529$1,315,001$1,105,249$2,022,047
58$2,489,935$1,341,901$1,104,741$2,156,361
59$2,705,192$1,368,938$1,103,033$2,302,635
60$2,941,185$1,396,080$1,100,048$2,462,054
61$3,199,992$1,423,293$1,095,706$2,635,927
62$3,483,899$1,450,543$1,089,920$2,825,694
63$3,795,426$1,477,789$1,082,602$3,032,943
64$4,137,349$1,504,990$1,073,658$3,259,422
65$4,512,723$1,532,099$1,062,990$3,507,061
66$4,924,917$1,559,068$1,050,496$3,777,983
67$5,377,639$1,585,843$1,036,069$4,074,529
68$5,874,976$1,612,366$1,019,594$4,399,281
69$6,421,428$1,638,578$1,000,956$4,755,083
70$7,021,956$1,664,410$980,030$5,145,068
71$7,682,023$1,689,793$956,688$5,572,690
72$8,407,646$1,714,650$930,795$6,041,757
73$9,205,459$1,738,901$902,209$6,556,465
74$10,082,765$1,762,456$870,782$7,121,439
75$11,047,614$1,785,224$836,361$7,741,774
76$12,108,875$1,807,104$798,783$8,423,089
77$13,276,319$1,827,991$757,881$9,171,576
78$14,560,710$1,847,769$713,476$9,994,057
79$15,973,911$1,866,318$665,386$10,898,055
80$17,528,990$1,883,508$613,417$11,891,858
81$19,240,348$1,899,201$557,368$12,984,604
82$21,123,852$1,913,251$497,028$14,186,362
83$23,196,985$1,925,499$432,178$15,508,230
84$25,479,010$1,935,781$362,589$16,962,442
85$27,991,153$1,943,919$288,020$18,562,479
86$30,756,803$1,949,724$208,221$20,323,201
87$33,801,733$1,952,995$122,931$22,260,985
88$37,154,338$1,953,521$31,878$24,393,883
89$40,845,911$1,951,074$0$26,741,788
90$44,910,933$1,945,415$0$29,334,291
91$49,387,397$1,936,289$0$32,192,387
92$54,317,170$1,923,426$0$35,339,000
93$59,746,386$1,906,539$0$38,803,525
94$65,725,881$1,885,323$0$42,618,356
95$72,311,674$1,859,457$0$46,819,191
96$79,565,493$1,828,598$0$51,445,374
97$87,555,359$1,792,386$0$56,540,264
98$96,356,229$1,750,435$0$62,151,645
99$106,050,699$1,702,342$0$68,332,177
100$116,729,789$1,647,675$0$75,139,896