Can I retire at age 48 with 1,040,000?

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 $1,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$85,882$85,117$84,371$83,642$82,931$79,767
2 years$42,516$41,724$40,957$40,213$39,491$36,340
3 years$28,062$27,267$26,502$25,765$25,055$22,017
4 years$20,837$20,044$19,286$18,562$17,869$14,967
5 years$16,503$15,715$14,967$14,257$13,584$10,825
6 years$13,615$12,832$12,096$11,402$10,748$8,135
7 years$11,552$10,777$10,052$9,374$8,741$6,272
8 years$10,006$9,238$8,524$7,864$7,252$4,925
9 years$8,804$8,043$7,342$6,698$6,107$3,919
10 years$7,843$7,089$6,401$5,774$5,204$3,150
11 years$7,058$6,311$5,635$5,025$4,475$2,551
12 years$6,403$5,665$5,001$4,408$3,878$2,079
13 years$5,850$5,119$4,468$3,891$3,382$1,703
14 years$5,376$4,653$4,015$3,454$2,964$1,400
15 years$4,966$4,251$3,625$3,081$2,610$1,155
16 years$4,608$3,900$3,286$2,758$2,307$955
17 years$4,292$3,592$2,991$2,478$2,045$791
18 years$4,011$3,319$2,730$2,233$1,819$656
19 years$3,760$3,076$2,499$2,018$1,621$546
20 years$3,535$2,858$2,294$1,828$1,448$454
21 years$3,331$2,662$2,110$1,659$1,296$378
22 years$3,146$2,485$1,944$1,508$1,161$315
23 years$2,977$2,324$1,795$1,374$1,043$263
24 years$2,823$2,178$1,660$1,253$937$219
25 years$2,681$2,044$1,538$1,144$843$183
26 years$2,551$1,921$1,426$1,046$760$153
27 years$2,430$1,808$1,324$958$685$128
28 years$2,318$1,703$1,231$877$618$107
29 years$2,214$1,607$1,146$805$558$89
30 years$2,117$1,518$1,067$738$504$75
31 years$2,027$1,435$995$678$456$62
32 years$1,942$1,357$928$623$412$52
33 years$1,862$1,286$867$573$373$44
34 years$1,788$1,218$810$527$338$37
35 years$1,718$1,156$757$485$306$31
36 years$1,652$1,097$708$447$277$26
37 years$1,589$1,042$663$412$251$21
38 years$1,530$990$621$380$228$18
39 years$1,475$941$582$350$207$15
40 years$1,422$896$545$323$187$13
41 years$1,372$853$511$298$170$10
42 years$1,324$812$480$275$154$9
43 years$1,279$774$450$254$140$7
44 years$1,236$738$422$234$127$6
45 years$1,195$703$397$216$115$5
46 years$1,155$671$372$200$105$4
47 years$1,118$640$350$185$95$4
48 years$1,082$611$329$171$86$3
49 years$1,048$584$309$158$78$3
50 years$1,015$558$291$146$71$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $1,040,000, adding $2,181 every year, while hoping to spend $35,230 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: 43/37/20 Blend
47$1,040,000$1,040,000$1,040,000$1,040,000
48$1,148,330$1,093,210$1,077,090$1,190,935
49$1,227,975$1,109,293$1,075,688$1,237,357
50$1,314,563$1,124,983$1,073,058$1,284,015
51$1,408,765$1,140,224$1,069,122$1,333,840
52$1,511,320$1,154,955$1,063,798$1,387,140
53$1,623,039$1,169,113$1,057,000$1,444,258
54$1,744,817$1,182,627$1,048,638$1,505,572
55$1,877,638$1,195,425$1,038,616$1,571,501
56$2,022,583$1,207,427$1,026,837$1,642,506
57$2,180,847$1,218,551$1,013,196$1,719,100
58$2,353,740$1,228,707$997,584$1,801,845
59$2,542,707$1,237,799$979,889$1,891,368
60$2,749,338$1,245,727$959,991$1,988,357
61$2,975,385$1,252,382$937,765$2,093,575
62$3,222,776$1,257,650$913,081$2,207,864
63$3,493,634$1,261,409$885,804$2,332,155
64$3,790,296$1,263,530$855,790$2,467,475
65$4,115,338$1,263,874$822,891$2,614,962
66$4,471,594$1,262,296$786,950$2,775,870
67$4,862,188$1,258,640$747,804$2,951,584
68$5,290,560$1,252,742$705,283$3,143,635
69$5,760,496$1,244,426$659,210$3,353,714
70$6,276,171$1,233,506$609,397$3,583,688
71$6,842,180$1,219,788$555,651$3,835,619
72$7,463,585$1,203,060$497,769$4,111,782
73$8,145,964$1,183,104$435,538$4,414,690
74$8,895,461$1,159,684$368,736$4,747,120
75$9,718,842$1,132,552$297,133$5,112,132
76$10,623,563$1,101,447$220,486$5,513,109
77$11,617,838$1,066,089$138,544$5,953,783
78$12,710,715$1,026,186$51,043$6,438,273
79$13,912,163$981,424$0$6,971,125
80$15,233,165$931,475$0$7,566,391
81$16,685,821$875,991$0$8,232,785
82$18,283,463$814,602$0$8,965,577
83$20,040,778$746,919$0$9,771,575
84$21,973,950$672,530$0$10,658,288
85$24,100,809$591,001$0$11,633,995
86$26,441,002$501,870$0$12,707,826
87$29,016,174$404,652$0$13,889,851
88$31,850,177$298,833$0$15,191,170
89$34,969,291$183,871$0$16,624,027
90$38,402,471$59,194$0$18,201,920
91$42,181,625$0$0$19,939,732
92$46,341,908$0$0$21,884,737
93$50,922,060$0$0$24,052,731
94$55,964,766$0$0$26,439,836
95$61,517,060$0$0$29,068,338
96$67,630,771$0$0$31,962,793
97$74,363,008$0$0$35,150,262
98$81,776,701$0$0$38,660,562
99$89,941,194$0$0$42,526,549
100$98,932,897$0$0$46,784,428