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

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$100,746$99,849$98,974$98,119$97,285$95,477
2 years$49,874$48,946$48,045$47,173$46,326$44,511
3 years$32,919$31,987$31,089$30,224$29,391$27,626
4 years$24,443$23,513$22,625$21,775$20,962$19,260
5 years$19,359$18,435$17,558$16,725$15,935$14,302
6 years$15,971$15,053$14,189$13,375$12,609$11,045
7 years$13,552$12,642$11,791$10,996$10,254$8,761
8 years$11,738$10,836$10,000$9,225$8,507$7,084
9 years$10,328$9,435$8,613$7,857$7,164$5,811
10 years$9,201$8,317$7,509$6,773$6,104$4,819
11 years$8,279$7,404$6,611$5,895$5,250$4,031
12 years$7,512$6,645$5,867$5,170$4,549$3,395
13 years$6,863$6,005$5,242$4,565$3,967$2,876
14 years$6,307$5,459$4,710$4,052$3,478$2,447
15 years$5,826$4,987$4,252$3,614$3,062$2,091
16 years$5,405$4,575$3,855$3,236$2,706$1,792
17 years$5,034$4,213$3,508$2,907$2,399$1,539
18 years$4,705$3,893$3,202$2,620$2,133$1,326
19 years$4,411$3,608$2,932$2,367$1,902$1,144
20 years$4,146$3,353$2,691$2,144$1,699$989
21 years$3,907$3,123$2,475$1,946$1,520$856
22 years$3,690$2,915$2,281$1,769$1,362$742
23 years$3,493$2,727$2,106$1,611$1,223$643
24 years$3,312$2,555$1,948$1,470$1,099$559
25 years$3,145$2,398$1,804$1,342$989$485
26 years$2,992$2,253$1,673$1,227$891$422
27 years$2,850$2,121$1,554$1,123$803$367
28 years$2,719$1,998$1,444$1,029$725$320
29 years$2,597$1,885$1,344$944$655$278
30 years$2,483$1,780$1,252$866$591$242
31 years$2,377$1,683$1,167$795$535$211
32 years$2,278$1,592$1,089$731$484$184
33 years$2,185$1,508$1,017$672$438$161
34 years$2,097$1,429$950$619$396$140
35 years$2,015$1,356$888$569$359$122
36 years$1,938$1,287$831$524$325$107
37 years$1,864$1,222$778$483$295$93
38 years$1,795$1,161$728$445$267$81
39 years$1,730$1,104$682$411$242$71
40 years$1,668$1,051$640$379$220$62
41 years$1,609$1,000$600$349$199$54
42 years$1,553$953$563$323$181$47
43 years$1,500$908$528$298$164$41
44 years$1,450$865$495$275$149$36
45 years$1,401$825$465$254$135$31
46 years$1,355$787$437$234$123$27
47 years$1,312$751$411$217$112$24
48 years$1,270$717$386$200$101$21
49 years$1,230$685$363$185$92$18
50 years$1,191$654$341$171$84$16

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 $3,635 every year, while hoping to spend $35,918 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: 64/29/7 Blend
47$1,220,000$1,220,000$1,220,000$1,220,000
48$1,348,190$1,283,530$1,264,620$1,432,496
49$1,447,488$1,308,206$1,268,768$1,513,770
50$1,555,712$1,332,888$1,271,851$1,597,928
51$1,673,732$1,357,537$1,273,796$1,688,907
52$1,802,510$1,382,114$1,274,525$1,787,365
53$1,943,102$1,406,573$1,273,958$1,894,030
54$2,096,672$1,430,868$1,272,009$2,009,701
55$2,264,500$1,454,948$1,268,588$2,135,259
56$2,447,996$1,478,758$1,263,603$2,271,677
57$2,648,713$1,502,239$1,256,956$2,420,023
58$2,868,361$1,525,327$1,248,542$2,581,477
59$3,108,821$1,547,956$1,238,256$2,757,339
60$3,372,166$1,570,051$1,225,983$2,949,040
61$3,660,680$1,591,536$1,211,606$3,158,157
62$3,976,875$1,612,328$1,195,001$3,386,430
63$4,323,521$1,632,336$1,176,038$3,635,774
64$4,703,666$1,651,467$1,154,581$3,908,302
65$5,120,669$1,669,618$1,130,489$4,206,342
66$5,578,229$1,686,681$1,103,612$4,532,458
67$6,080,421$1,702,540$1,073,795$4,889,478
68$6,631,732$1,717,073$1,040,876$5,280,519
69$7,237,107$1,730,148$1,004,684$5,709,014
70$7,901,992$1,741,625$965,041$6,178,751
71$8,632,386$1,751,356$921,760$6,693,901
72$9,434,899$1,759,182$874,649$7,259,065
73$10,316,811$1,764,934$823,502$7,879,311
74$11,286,144$1,768,434$768,108$8,560,227
75$12,351,735$1,769,492$708,244$9,307,972
76$13,523,321$1,767,906$643,678$10,129,334
77$14,811,627$1,763,460$574,169$11,031,797
78$16,228,471$1,755,928$499,462$12,023,608
79$17,786,874$1,745,068$419,293$13,113,857
80$19,501,182$1,730,623$333,386$14,312,565
81$21,387,201$1,712,321$241,453$15,630,775
82$23,462,346$1,689,876$143,192$17,080,663
83$25,745,806$1,662,980$38,289$18,675,644
84$28,258,723$1,631,311$0$20,430,510
85$31,024,393$1,594,526$0$22,367,062
86$34,068,485$1,552,262$0$24,501,177
87$37,419,282$1,504,134$0$26,849,822
88$41,107,948$1,449,736$0$29,434,854
89$45,168,823$1,388,638$0$32,280,359
90$49,639,746$1,320,383$0$35,412,887
91$54,562,408$1,244,490$0$38,861,696
92$59,982,754$1,160,451$0$42,659,034
93$65,951,407$1,067,725$0$46,840,440
94$72,524,150$965,743$0$51,445,086
95$79,762,453$853,904$0$56,516,140
96$87,734,049$731,571$0$62,101,180
97$96,513,577$598,073$0$68,252,642
98$106,183,282$452,698$0$75,028,318
99$116,833,794$294,698$0$82,491,899
100$128,564,983$123,280$0$90,713,578