Can I retire at age 48 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$87,534$86,754$85,993$85,251$84,526$81,919
2 years$43,334$42,527$41,744$40,986$40,250$37,646
3 years$28,602$27,792$27,011$26,260$25,537$23,017
4 years$21,238$20,430$19,657$18,919$18,213$15,798
5 years$16,820$16,017$15,255$14,532$13,845$11,541
6 years$13,876$13,079$12,328$11,621$10,955$8,764
7 years$11,774$10,984$10,245$9,554$8,909$6,831
8 years$10,199$9,415$8,688$8,015$7,391$5,424
9 years$8,974$8,198$7,483$6,827$6,225$4,366
10 years$7,994$7,226$6,524$5,885$5,304$3,552
11 years$7,193$6,433$5,744$5,122$4,561$2,913
12 years$6,526$5,774$5,097$4,492$3,953$2,404
13 years$5,963$5,218$4,554$3,966$3,447$1,995
14 years$5,480$4,743$4,092$3,521$3,021$1,662
15 years$5,062$4,333$3,695$3,140$2,660$1,389
16 years$4,696$3,975$3,350$2,811$2,351$1,164
17 years$4,374$3,661$3,048$2,526$2,085$978
18 years$4,088$3,383$2,782$2,276$1,854$824
19 years$3,832$3,135$2,547$2,057$1,652$694
20 years$3,603$2,913$2,338$1,863$1,476$586
21 years$3,395$2,714$2,150$1,691$1,321$495
22 years$3,206$2,533$1,982$1,537$1,184$419
23 years$3,035$2,369$1,830$1,400$1,063$355
24 years$2,877$2,220$1,692$1,277$955$301
25 years$2,733$2,083$1,567$1,166$859$255
26 years$2,600$1,958$1,454$1,066$774$216
27 years$2,477$1,843$1,350$976$698$183
28 years$2,363$1,736$1,255$894$630$156
29 years$2,256$1,638$1,168$820$569$132
30 years$2,158$1,547$1,088$753$514$112
31 years$2,065$1,462$1,014$691$465$95
32 years$1,979$1,384$946$635$420$81
33 years$1,898$1,310$883$584$380$69
34 years$1,822$1,242$825$537$344$58
35 years$1,751$1,178$772$495$312$50
36 years$1,684$1,118$722$456$283$42
37 years$1,620$1,062$676$420$256$36
38 years$1,560$1,009$633$387$232$31
39 years$1,503$960$593$357$211$26
40 years$1,449$913$556$329$191$22
41 years$1,398$869$521$304$173$19
42 years$1,350$828$489$280$157$16
43 years$1,303$789$459$259$143$14
44 years$1,259$752$430$239$130$12
45 years$1,218$717$404$221$118$10
46 years$1,178$684$380$204$107$8
47 years$1,140$653$357$188$97$7
48 years$1,103$623$335$174$88$6
49 years$1,068$595$315$161$80$5
50 years$1,035$568$296$149$73$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $1,060,000, adding $3,297 every year, while hoping to spend $32,775 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: 64/11/25 Blend
47$1,060,000$1,060,000$1,060,000$1,060,000
48$1,171,521$1,115,341$1,098,911$1,238,612
49$1,256,144$1,135,120$1,100,852$1,304,104
50$1,348,299$1,154,770$1,101,760$1,371,688
51$1,448,722$1,174,250$1,101,565$1,444,801
52$1,558,219$1,193,516$1,100,195$1,523,989
53$1,677,679$1,212,520$1,097,573$1,609,852
54$1,808,081$1,231,211$1,093,620$1,703,055
55$1,950,500$1,249,536$1,088,251$1,804,330
56$2,106,124$1,267,436$1,081,380$1,914,483
57$2,276,256$1,284,847$1,072,914$2,034,403
58$2,462,333$1,301,705$1,062,756$2,165,072
59$2,665,939$1,317,936$1,050,806$2,307,571
60$2,888,814$1,333,464$1,036,957$2,463,092
61$3,132,878$1,348,208$1,021,100$2,632,952
62$3,400,242$1,362,081$1,003,117$2,818,599
63$3,693,233$1,374,990$982,889$3,021,633
64$4,014,414$1,386,836$960,287$3,243,816
65$4,366,606$1,397,512$935,178$3,487,093
66$4,752,918$1,406,908$907,424$3,753,607
67$5,176,772$1,414,903$876,879$4,045,720
68$5,641,939$1,421,370$843,391$4,366,039
69$6,152,574$1,426,174$806,802$4,717,436
70$6,713,250$1,429,170$766,944$5,103,079
71$7,329,009$1,430,207$723,643$5,526,460
72$8,005,402$1,429,121$676,719$5,991,429
73$8,748,545$1,425,740$625,981$6,502,230
74$9,565,176$1,419,881$571,232$7,063,545
75$10,462,719$1,411,350$512,262$7,680,532
76$11,449,350$1,399,940$448,857$8,358,879
77$12,534,081$1,385,433$380,791$9,104,857
78$13,726,836$1,367,598$307,826$9,925,380
79$15,038,551$1,346,189$229,716$10,828,068
80$16,481,277$1,320,946$146,205$11,821,324
81$18,068,287$1,291,592$57,023$12,914,408
82$19,814,209$1,257,837$0$14,117,531
83$21,735,158$1,219,371$0$15,452,124
84$23,848,891$1,175,866$0$16,937,312
85$26,174,972$1,126,978$0$18,571,626
86$28,734,958$1,072,339$0$20,370,227
87$31,552,602$1,011,562$0$22,349,822
88$34,654,077$944,238$0$24,528,821
89$38,068,219$869,932$0$26,927,513
90$41,826,807$788,188$0$29,568,256
91$45,964,852$698,520$0$32,475,687
92$50,520,937$600,418$0$35,676,958
93$55,537,574$493,340$0$39,201,989
94$61,061,609$376,715$0$43,083,751
95$67,144,660$249,941$0$47,358,582
96$73,843,607$112,380$0$52,066,522
97$81,221,128$0$0$57,251,698
98$89,346,288$0$0$62,967,174
99$98,295,194$0$0$69,277,178
100$108,151,710$0$0$76,227,255