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%15.7%
1 years$92,489$91,665$90,861$90,076$89,310$87,222
2 years$45,786$44,934$44,107$43,306$42,529$40,437
3 years$30,221$29,365$28,540$27,747$26,982$24,952
4 years$22,440$21,586$20,770$19,990$19,244$17,291
5 years$17,772$16,924$16,118$15,354$14,629$12,758
6 years$14,662$13,820$13,026$12,279$11,575$9,789
7 years$12,441$11,606$10,825$10,095$9,414$7,713
8 years$10,776$9,948$9,180$8,469$7,810$6,193
9 years$9,482$8,662$7,907$7,213$6,577$5,043
10 years$8,447$7,635$6,893$6,218$5,604$4,151
11 years$7,601$6,797$6,069$5,411$4,819$3,446
12 years$6,896$6,100$5,386$4,747$4,176$2,880
13 years$6,300$5,513$4,812$4,191$3,642$2,420
14 years$5,790$5,011$4,324$3,720$3,193$2,043
15 years$5,348$4,578$3,904$3,317$2,811$1,731
16 years$4,962$4,200$3,539$2,970$2,484$1,471
17 years$4,622$3,868$3,221$2,669$2,203$1,253
18 years$4,319$3,574$2,940$2,405$1,959$1,070
19 years$4,049$3,313$2,691$2,173$1,746$915
20 years$3,807$3,078$2,470$1,968$1,559$783
21 years$3,587$2,867$2,272$1,786$1,395$672
22 years$3,388$2,677$2,094$1,624$1,251$577
23 years$3,206$2,503$1,933$1,479$1,123$496
24 years$3,040$2,345$1,788$1,349$1,009$426
25 years$2,888$2,201$1,656$1,232$908$367
26 years$2,747$2,069$1,536$1,127$818$316
27 years$2,617$1,947$1,426$1,031$737$272
28 years$2,496$1,834$1,326$945$665$235
29 years$2,384$1,731$1,234$866$601$202
30 years$2,280$1,634$1,149$795$543$175
31 years$2,182$1,545$1,071$730$491$151
32 years$2,091$1,462$1,000$671$444$130
33 years$2,006$1,384$933$617$402$112
34 years$1,925$1,312$872$568$364$97
35 years$1,850$1,245$815$523$330$84
36 years$1,779$1,181$763$481$299$72
37 years$1,712$1,122$714$444$271$62
38 years$1,648$1,066$669$409$245$54
39 years$1,588$1,014$626$377$222$47
40 years$1,531$965$587$348$202$40
41 years$1,477$918$551$321$183$35
42 years$1,426$874$516$296$166$30
43 years$1,377$833$485$273$151$26
44 years$1,331$794$455$252$137$22
45 years$1,286$757$427$233$124$19
46 years$1,244$723$401$215$113$17
47 years$1,204$689$377$199$102$14
48 years$1,166$658$354$184$93$13
49 years$1,129$629$333$170$84$11
50 years$1,094$600$313$157$77$9

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 $3,728 every year, while hoping to spend $41,271 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: 35/38/27 Blend
47$1,120,000$1,120,000$1,120,000$1,120,000
48$1,238,085$1,178,725$1,161,365$1,271,223
49$1,320,458$1,192,571$1,156,359$1,310,142
50$1,409,850$1,205,712$1,149,802$1,348,116
51$1,506,932$1,218,069$1,141,598$1,388,288
52$1,612,445$1,229,561$1,131,648$1,430,882
53$1,727,203$1,240,098$1,119,846$1,476,147
54$1,852,100$1,249,585$1,106,083$1,524,361
55$1,988,121$1,257,921$1,090,244$1,575,830
56$2,136,350$1,265,000$1,072,208$1,630,896
57$2,297,980$1,270,707$1,051,849$1,689,940
58$2,474,323$1,274,921$1,029,035$1,753,381
59$2,666,825$1,277,513$1,003,629$1,821,689
60$2,877,076$1,278,346$975,485$1,895,381
61$3,106,827$1,277,274$944,453$1,975,032
62$3,358,005$1,274,143$910,374$2,061,281
63$3,632,734$1,268,788$873,084$2,154,835
64$3,933,349$1,261,035$832,409$2,256,477
65$4,262,425$1,250,700$788,169$2,367,076
66$4,622,795$1,237,586$740,174$2,487,595
67$5,017,578$1,221,487$688,229$2,619,099
68$5,450,213$1,202,181$632,126$2,762,768
69$5,924,482$1,179,435$571,650$2,919,909
70$6,444,555$1,153,003$506,576$3,091,969
71$7,015,022$1,122,623$436,669$3,280,549
72$7,640,940$1,088,018$361,683$3,487,421
73$8,327,880$1,048,894$281,363$3,714,543
74$9,081,975$1,004,941$195,440$3,964,086
75$9,909,984$955,831$103,635$4,238,445
76$10,819,352$901,217$5,657$4,540,274
77$11,818,280$840,730$0$4,872,504
78$12,915,803$773,984$0$5,266,870
79$14,121,872$700,567$0$5,702,052
80$15,447,454$620,045$0$6,180,474
81$16,904,626$531,960$0$6,706,613
82$18,506,699$435,827$0$7,285,407
83$20,268,334$331,134$0$7,922,307
84$22,205,685$217,340$0$8,623,327
85$24,336,551$93,876$0$9,395,102
86$26,680,540$0$0$10,244,957
87$29,259,258$0$0$11,197,637
88$32,096,511$0$0$12,289,204
89$35,218,526$0$0$13,490,517
90$38,654,205$0$0$14,812,721
91$42,435,390$0$0$16,268,093
92$46,597,167$0$0$17,870,165
93$51,178,196$0$0$19,633,843
94$56,221,076$0$0$21,575,556
95$61,772,745$0$0$23,713,404
96$67,884,924$0$0$26,067,332
97$74,614,602$0$0$28,659,319
98$82,024,578$0$0$31,513,582
99$90,184,050$0$0$34,656,806
100$99,169,265$0$0$38,118,397