Can I retire at age 48 with 1,070,000?

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$88,360$87,573$86,805$86,055$85,323$83,396
2 years$43,742$42,928$42,138$41,373$40,630$38,699
3 years$28,872$28,054$27,266$26,508$25,777$23,902
4 years$21,438$20,622$19,843$19,097$18,385$16,580
5 years$16,979$16,168$15,399$14,669$13,976$12,247
6 years$14,007$13,203$12,445$11,731$11,059$9,407
7 years$11,885$11,088$10,341$9,644$8,994$7,420
8 years$10,295$9,504$8,770$8,090$7,461$5,965
9 years$9,058$8,275$7,554$6,891$6,283$4,863
10 years$8,070$7,294$6,586$5,940$5,354$4,008
11 years$7,261$6,493$5,798$5,170$4,604$3,332
12 years$6,588$5,828$5,146$4,535$3,990$2,788
13 years$6,019$5,267$4,597$4,003$3,479$2,346
14 years$5,531$4,788$4,131$3,554$3,050$1,983
15 years$5,109$4,373$3,729$3,169$2,685$1,682
16 years$4,741$4,013$3,381$2,838$2,373$1,431
17 years$4,415$3,695$3,077$2,550$2,104$1,221
18 years$4,127$3,415$2,809$2,298$1,871$1,044
19 years$3,869$3,165$2,571$2,076$1,668$894
20 years$3,637$2,941$2,360$1,880$1,490$767
21 years$3,427$2,739$2,171$1,707$1,333$659
22 years$3,237$2,557$2,000$1,552$1,195$567
23 years$3,063$2,392$1,847$1,413$1,073$488
24 years$2,904$2,241$1,708$1,289$964$420
25 years$2,759$2,103$1,582$1,177$868$362
26 years$2,624$1,976$1,467$1,076$781$312
27 years$2,500$1,860$1,363$985$705$270
28 years$2,385$1,753$1,267$903$636$233
29 years$2,278$1,653$1,179$828$574$201
30 years$2,178$1,561$1,098$760$519$174
31 years$2,085$1,476$1,024$698$469$150
32 years$1,998$1,397$955$641$424$130
33 years$1,916$1,323$892$590$384$112
34 years$1,840$1,254$833$543$348$97
35 years$1,767$1,189$779$499$315$84
36 years$1,699$1,129$729$460$285$73
37 years$1,635$1,072$682$424$259$63
38 years$1,575$1,019$639$391$234$54
39 years$1,517$969$598$360$213$47
40 years$1,463$922$561$332$193$41
41 years$1,411$877$526$306$175$35
42 years$1,362$835$493$283$159$30
43 years$1,316$796$463$261$144$26
44 years$1,271$759$435$241$131$23
45 years$1,229$724$408$223$119$20
46 years$1,189$690$383$206$108$17
47 years$1,150$659$360$190$98$15
48 years$1,113$629$338$176$89$13
49 years$1,078$600$318$162$81$11
50 years$1,045$574$299$150$73$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $1,070,000, adding $6,813 every year, while hoping to spend $23,788 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: 67/20/13 Blend
47$1,070,000$1,070,000$1,070,000$1,070,000
48$1,186,168$1,129,458$1,112,873$1,261,695
49$1,281,846$1,159,491$1,124,844$1,342,916
50$1,386,487$1,190,198$1,136,418$1,428,240
51$1,500,979$1,221,588$1,147,558$1,520,924
52$1,626,301$1,253,668$1,158,223$1,621,687
53$1,763,530$1,286,444$1,168,371$1,731,321
54$1,913,854$1,319,924$1,177,955$1,850,698
55$2,078,581$1,354,114$1,186,930$1,980,777
56$2,259,149$1,389,018$1,195,245$2,122,617
57$2,457,144$1,424,642$1,202,848$2,277,383
58$2,674,314$1,460,990$1,209,684$2,446,356
59$2,912,580$1,498,065$1,215,695$2,630,950
60$3,174,063$1,535,870$1,220,820$2,832,723
61$3,461,095$1,574,405$1,224,995$3,053,389
62$3,776,248$1,613,673$1,228,154$3,294,837
63$4,122,353$1,653,670$1,230,225$3,559,148
64$4,502,530$1,694,398$1,231,135$3,848,617
65$4,920,216$1,735,851$1,230,806$4,165,768
66$5,379,197$1,778,026$1,229,156$4,513,386
67$5,883,642$1,820,916$1,226,100$4,894,538
68$6,438,147$1,864,515$1,221,548$5,312,602
69$7,047,775$1,908,813$1,215,407$5,771,302
70$7,718,103$1,953,799$1,207,578$6,274,740
71$8,455,274$1,999,461$1,197,957$6,827,437
72$9,266,060$2,045,782$1,186,436$7,434,373
73$10,157,919$2,092,746$1,172,902$8,101,037
74$11,139,069$2,140,333$1,157,237$8,833,477
75$12,218,566$2,188,521$1,139,316$9,638,357
76$13,406,385$2,237,284$1,119,008$10,523,021
77$14,713,520$2,286,595$1,096,179$11,495,561
78$16,152,083$2,336,422$1,070,685$12,564,894
79$17,735,419$2,386,730$1,042,376$13,740,848
80$19,478,234$2,437,482$1,011,098$15,034,250
81$21,396,731$2,488,636$976,687$16,457,034
82$23,508,764$2,540,145$938,972$18,022,349
83$25,834,006$2,591,960$897,776$19,744,687
84$28,394,133$2,644,025$852,910$21,640,016
85$31,213,033$2,696,281$804,181$23,725,933
86$34,317,026$2,748,662$751,384$26,021,832
87$37,735,114$2,801,098$694,307$28,549,083
88$41,499,257$2,853,512$632,727$31,331,237
89$45,644,669$2,905,823$566,412$34,394,246
90$50,210,157$2,957,940$495,119$37,766,712
91$55,238,481$3,009,767$418,594$41,480,151
92$60,776,762$3,061,201$336,572$45,569,298
93$66,876,921$3,112,130$248,777$50,072,428
94$73,596,177$3,162,434$154,920$55,031,724
95$80,997,577$3,211,983$54,700$60,493,670
96$89,150,599$3,260,640$0$66,509,493
97$98,131,805$3,308,256$0$73,142,893
98$108,025,561$3,354,672$0$80,457,404
99$118,924,836$3,399,719$0$88,514,036
100$130,932,078$3,443,214$0$97,388,394