Can I retire at age 48 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$100,746$99,849$98,974$98,119$97,285$96,069
2 years$49,874$48,946$48,045$47,173$46,326$45,103
3 years$32,919$31,987$31,089$30,224$29,391$28,198
4 years$24,443$23,513$22,625$21,775$20,962$19,809
5 years$19,359$18,435$17,558$16,725$15,935$14,825
6 years$15,971$15,053$14,189$13,375$12,609$11,543
7 years$13,552$12,642$11,791$10,996$10,254$9,233
8 years$11,738$10,836$10,000$9,225$8,507$7,531
9 years$10,328$9,435$8,613$7,857$7,164$6,232
10 years$9,201$8,317$7,509$6,773$6,104$5,216
11 years$8,279$7,404$6,611$5,895$5,250$4,404
12 years$7,512$6,645$5,867$5,170$4,549$3,745
13 years$6,863$6,005$5,242$4,565$3,967$3,204
14 years$6,307$5,459$4,710$4,052$3,478$2,754
15 years$5,826$4,987$4,252$3,614$3,062$2,377
16 years$5,405$4,575$3,855$3,236$2,706$2,058
17 years$5,034$4,213$3,508$2,907$2,399$1,788
18 years$4,705$3,893$3,202$2,620$2,133$1,556
19 years$4,411$3,608$2,932$2,367$1,902$1,358
20 years$4,146$3,353$2,691$2,144$1,699$1,187
21 years$3,907$3,123$2,475$1,946$1,520$1,039
22 years$3,690$2,915$2,281$1,769$1,362$911
23 years$3,493$2,727$2,106$1,611$1,223$799
24 years$3,312$2,555$1,948$1,470$1,099$702
25 years$3,145$2,398$1,804$1,342$989$617
26 years$2,992$2,253$1,673$1,227$891$543
27 years$2,850$2,121$1,554$1,123$803$478
28 years$2,719$1,998$1,444$1,029$725$421
29 years$2,597$1,885$1,344$944$655$372
30 years$2,483$1,780$1,252$866$591$328
31 years$2,377$1,683$1,167$795$535$289
32 years$2,278$1,592$1,089$731$484$255
33 years$2,185$1,508$1,017$672$438$225
34 years$2,097$1,429$950$619$396$199
35 years$2,015$1,356$888$569$359$176
36 years$1,938$1,287$831$524$325$155
37 years$1,864$1,222$778$483$295$137
38 years$1,795$1,161$728$445$267$121
39 years$1,730$1,104$682$411$242$107
40 years$1,668$1,051$640$379$220$95
41 years$1,609$1,000$600$349$199$84
42 years$1,553$953$563$323$181$74
43 years$1,500$908$528$298$164$66
44 years$1,450$865$495$275$149$58
45 years$1,401$825$465$254$135$51
46 years$1,355$787$437$234$123$45
47 years$1,312$751$411$217$112$40
48 years$1,270$717$386$200$101$35
49 years$1,230$685$363$185$92$31
50 years$1,191$654$341$171$84$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $1,220,000, adding $2,469 every year, while hoping to spend $26,390 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: 51/27/22 Blend
47$1,220,000$1,220,000$1,220,000$1,220,000
48$1,346,987$1,282,327$1,263,417$1,407,305
49$1,456,301$1,317,082$1,277,662$1,484,048
50$1,575,880$1,352,656$1,291,501$1,564,541
51$1,706,744$1,389,060$1,304,891$1,651,511
52$1,850,016$1,426,308$1,317,788$1,745,582
53$2,006,930$1,464,409$1,330,146$1,847,443
54$2,178,848$1,503,377$1,341,918$1,957,850
55$2,367,269$1,543,221$1,353,050$2,077,638
56$2,573,843$1,583,952$1,363,491$2,207,724
57$2,800,390$1,625,579$1,373,182$2,349,121
58$3,048,910$1,668,113$1,382,064$2,502,944
59$3,321,610$1,711,562$1,390,074$2,670,419
60$3,620,920$1,755,934$1,397,147$2,852,900
61$3,949,514$1,801,236$1,403,213$3,051,877
62$4,310,343$1,847,474$1,408,198$3,268,993
63$4,706,652$1,894,655$1,412,027$3,506,056
64$5,142,019$1,942,782$1,414,619$3,765,061
65$5,620,386$1,991,858$1,415,889$4,048,203
66$6,146,093$2,041,887$1,415,749$4,357,904
67$6,723,923$2,092,869$1,414,105$4,696,831
68$7,359,147$2,144,803$1,410,861$5,067,923
69$8,057,569$2,197,687$1,405,914$5,474,420
70$8,825,585$2,251,518$1,399,156$5,919,890
71$9,670,242$2,306,290$1,390,476$6,408,267
72$10,599,305$2,361,996$1,379,755$6,943,886
73$11,621,327$2,418,627$1,366,870$7,531,523
74$12,745,733$2,476,171$1,351,691$8,176,444
75$13,982,909$2,534,614$1,334,083$8,884,451
76$15,344,295$2,593,939$1,313,904$9,661,935
77$16,842,499$2,654,128$1,291,006$10,515,946
78$18,491,412$2,715,159$1,265,233$11,454,247
79$20,306,341$2,777,006$1,236,423$12,485,397
80$22,304,149$2,839,641$1,204,404$13,618,828
81$24,503,420$2,903,031$1,169,000$14,864,934
82$26,924,631$2,967,142$1,130,023$16,235,172
83$29,590,344$3,031,932$1,087,280$17,742,167
84$32,525,421$3,097,359$1,040,565$19,399,833
85$35,757,257$3,163,372$989,667$21,223,504
86$39,316,038$3,229,919$934,363$23,230,080
87$43,235,029$3,296,940$874,419$25,438,186
88$47,550,883$3,364,371$809,593$27,868,350
89$52,303,989$3,432,141$739,630$30,543,193
90$57,538,854$3,500,174$664,266$33,487,648
91$63,304,521$3,568,386$583,222$36,729,189
92$69,655,032$3,636,687$496,210$40,298,101
93$76,649,938$3,704,977$402,926$44,227,754
94$84,354,863$3,773,153$303,055$48,554,929
95$92,842,119$3,841,097$196,268$53,320,160
96$102,191,392$3,908,688$82,219$58,568,118
97$112,490,491$3,975,790$0$64,348,035
98$123,836,179$4,042,261$0$70,723,438
99$136,335,084$4,107,947$0$77,766,051
100$150,104,707$4,172,681$0$85,522,544