Can I retire at age 48 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$92,489$91,665$90,861$90,076$89,310$88,378
2 years$45,786$44,934$44,107$43,306$42,529$41,589
3 years$30,221$29,365$28,540$27,747$26,982$26,065
4 years$22,440$21,586$20,770$19,990$19,244$18,357
5 years$17,772$16,924$16,118$15,354$14,629$13,774
6 years$14,662$13,820$13,026$12,279$11,575$10,754
7 years$12,441$11,606$10,825$10,095$9,414$8,626
8 years$10,776$9,948$9,180$8,469$7,810$7,055
9 years$9,482$8,662$7,907$7,213$6,577$5,856
10 years$8,447$7,635$6,893$6,218$5,604$4,916
11 years$7,601$6,797$6,069$5,411$4,819$4,164
12 years$6,896$6,100$5,386$4,747$4,176$3,552
13 years$6,300$5,513$4,812$4,191$3,642$3,049
14 years$5,790$5,011$4,324$3,720$3,193$2,629
15 years$5,348$4,578$3,904$3,317$2,811$2,277
16 years$4,962$4,200$3,539$2,970$2,484$1,979
17 years$4,622$3,868$3,221$2,669$2,203$1,724
18 years$4,319$3,574$2,940$2,405$1,959$1,507
19 years$4,049$3,313$2,691$2,173$1,746$1,319
20 years$3,807$3,078$2,470$1,968$1,559$1,157
21 years$3,587$2,867$2,272$1,786$1,395$1,017
22 years$3,388$2,677$2,094$1,624$1,251$895
23 years$3,206$2,503$1,933$1,479$1,123$788
24 years$3,040$2,345$1,788$1,349$1,009$695
25 years$2,888$2,201$1,656$1,232$908$614
26 years$2,747$2,069$1,536$1,127$818$542
27 years$2,617$1,947$1,426$1,031$737$479
28 years$2,496$1,834$1,326$945$665$424
29 years$2,384$1,731$1,234$866$601$375
30 years$2,280$1,634$1,149$795$543$332
31 years$2,182$1,545$1,071$730$491$294
32 years$2,091$1,462$1,000$671$444$261
33 years$2,006$1,384$933$617$402$231
34 years$1,925$1,312$872$568$364$205
35 years$1,850$1,245$815$523$330$182
36 years$1,779$1,181$763$481$299$161
37 years$1,712$1,122$714$444$271$143
38 years$1,648$1,066$669$409$245$127
39 years$1,588$1,014$626$377$222$113
40 years$1,531$965$587$348$202$100
41 years$1,477$918$551$321$183$89
42 years$1,426$874$516$296$166$79
43 years$1,377$833$485$273$151$70
44 years$1,331$794$455$252$137$62
45 years$1,286$757$427$233$124$55
46 years$1,244$723$401$215$113$49
47 years$1,204$689$377$199$102$44
48 years$1,166$658$354$184$93$39
49 years$1,129$629$333$170$84$35
50 years$1,094$600$313$157$77$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $1,120,000, adding $6,999 every year, while hoping to spend $33,709 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: 43/49/8 Blend
47$1,120,000$1,120,000$1,120,000$1,120,000
48$1,241,459$1,182,099$1,164,739$1,291,680
49$1,332,222$1,204,156$1,167,892$1,349,327
50$1,431,113$1,226,164$1,170,021$1,407,755
51$1,538,925$1,248,085$1,171,055$1,470,278
52$1,656,532$1,269,878$1,170,922$1,537,283
53$1,784,895$1,291,498$1,169,545$1,609,196
54$1,925,072$1,312,899$1,166,842$1,686,487
55$2,078,228$1,334,030$1,162,730$1,769,676
56$2,245,645$1,354,835$1,157,119$1,859,334
57$2,428,735$1,375,256$1,149,916$1,956,093
58$2,629,051$1,395,229$1,141,024$2,060,649
59$2,848,307$1,414,688$1,130,341$2,173,769
60$3,088,386$1,433,559$1,117,759$2,296,302
61$3,351,364$1,451,766$1,103,167$2,429,181
62$3,639,527$1,469,226$1,086,446$2,573,437
63$3,955,391$1,485,851$1,067,475$2,730,209
64$4,301,730$1,501,546$1,046,124$2,900,750
65$4,681,596$1,516,212$1,022,258$3,086,445
66$5,098,352$1,529,740$995,738$3,288,821
67$5,555,704$1,542,017$966,415$3,509,563
68$6,057,731$1,552,921$934,135$3,750,529
69$6,608,928$1,562,323$898,738$4,013,769
70$7,214,247$1,570,085$860,053$4,301,545
71$7,879,141$1,576,060$817,906$4,616,351
72$8,609,619$1,580,093$772,112$4,960,940
73$9,412,301$1,582,017$722,478$5,338,347
74$10,294,477$1,581,658$668,803$5,751,920
75$11,264,183$1,578,828$610,876$6,205,354
76$12,330,268$1,573,329$548,479$6,702,722
77$13,502,483$1,564,950$481,381$7,248,518
78$14,791,573$1,553,469$409,343$7,847,698
79$16,209,372$1,538,648$332,115$8,505,728
80$17,768,922$1,520,235$249,435$9,228,639
81$19,484,591$1,497,966$161,030$10,023,078
82$21,372,210$1,471,557$66,616$10,896,380
83$23,449,223$1,440,711$0$11,856,632
84$25,734,848$1,405,110$0$12,915,667
85$28,250,261$1,364,419$0$14,086,665
86$31,018,796$1,318,284$0$15,374,808
87$34,066,163$1,266,329$0$16,792,084
88$37,420,689$1,208,157$0$18,351,715
89$41,113,590$1,143,348$0$20,068,274
90$45,179,261$1,071,457$0$21,957,833
91$49,655,601$992,013$0$24,038,107
92$54,584,371$904,521$0$26,328,632
93$60,011,589$808,454$0$28,850,942
94$65,987,961$703,258$0$31,628,780
95$72,569,361$588,346$0$34,688,321
96$79,817,358$463,098$0$38,058,421
97$87,799,798$326,859$0$41,770,893
98$96,591,441$178,938$0$45,860,808
99$106,274,667$18,605$0$50,366,826
100$116,940,255$0$0$55,331,568