Can I retire at age 48 with 1,230,000?

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$101,572$100,667$99,785$98,923$98,082$96,616
2 years$50,283$49,347$48,439$47,559$46,706$45,232
3 years$33,189$32,249$31,343$30,472$29,632$28,197
4 years$24,644$23,706$22,810$21,953$21,134$19,748
5 years$19,518$18,586$17,701$16,862$16,066$14,733
6 years$16,102$15,177$14,305$13,485$12,712$11,434
7 years$13,663$12,745$11,888$11,087$10,338$9,116
8 years$11,834$10,925$10,082$9,300$8,577$7,409
9 years$10,413$9,512$8,683$7,922$7,223$6,110
10 years$9,276$8,385$7,570$6,829$6,154$5,095
11 years$8,347$7,464$6,665$5,943$5,293$4,286
12 years$7,573$6,700$5,915$5,213$4,587$3,631
13 years$6,919$6,055$5,285$4,602$4,000$3,094
14 years$6,359$5,503$4,748$4,085$3,506$2,649
15 years$5,873$5,027$4,287$3,643$3,087$2,277
16 years$5,449$4,613$3,887$3,262$2,728$1,963
17 years$5,076$4,248$3,537$2,931$2,419$1,698
18 years$4,744$3,925$3,229$2,641$2,151$1,472
19 years$4,447$3,638$2,956$2,387$1,917$1,279
20 years$4,180$3,381$2,713$2,162$1,712$1,113
21 years$3,939$3,149$2,495$1,962$1,532$970
22 years$3,721$2,939$2,300$1,784$1,374$846
23 years$3,521$2,749$2,123$1,625$1,233$739
24 years$3,339$2,576$1,964$1,482$1,108$646
25 years$3,171$2,417$1,819$1,353$997$565
26 years$3,017$2,272$1,687$1,237$898$495
27 years$2,874$2,138$1,566$1,132$810$434
28 years$2,741$2,015$1,456$1,038$731$381
29 years$2,618$1,901$1,355$951$660$334
30 years$2,504$1,795$1,262$873$596$293
31 years$2,397$1,697$1,177$802$539$257
32 years$2,297$1,606$1,098$737$488$226
33 years$2,203$1,520$1,025$678$441$198
34 years$2,115$1,441$958$624$400$174
35 years$2,032$1,367$895$574$362$153
36 years$1,954$1,297$838$529$328$135
37 years$1,880$1,232$784$487$297$118
38 years$1,810$1,171$734$449$269$104
39 years$1,744$1,113$688$414$244$92
40 years$1,682$1,059$645$382$222$81
41 years$1,622$1,008$605$352$201$71
42 years$1,566$960$567$325$182$62
43 years$1,512$915$532$300$166$55
44 years$1,461$872$500$277$150$48
45 years$1,413$832$469$256$136$42
46 years$1,366$793$441$236$124$37
47 years$1,322$757$414$218$112$33
48 years$1,280$723$389$202$102$29
49 years$1,240$690$366$187$93$25
50 years$1,201$659$344$172$84$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $1,230,000, adding $2,880 every year, while hoping to spend $53,725 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: 29/48/23 Blend
47$1,230,000$1,230,000$1,230,000$1,230,000
48$1,358,431$1,293,241$1,274,176$1,387,997
49$1,439,828$1,299,447$1,259,698$1,417,350
50$1,527,726$1,304,156$1,242,934$1,443,936
51$1,622,734$1,307,238$1,223,751$1,471,404
52$1,725,516$1,308,556$1,202,010$1,499,863
53$1,836,805$1,307,963$1,177,564$1,529,439
54$1,957,408$1,305,301$1,150,261$1,560,275
55$2,088,209$1,300,407$1,119,941$1,592,533
56$2,230,183$1,293,104$1,086,436$1,626,395
57$2,384,402$1,283,205$1,049,571$1,662,070
58$2,552,043$1,270,514$1,009,164$1,699,789
59$2,734,403$1,254,821$965,022$1,739,818
60$2,932,908$1,235,904$916,947$1,782,453
61$3,149,128$1,213,526$864,728$1,828,026
62$3,384,790$1,187,440$808,147$1,876,914
63$3,641,795$1,157,381$746,976$1,929,535
64$3,922,235$1,123,069$680,977$1,986,362
65$4,228,412$1,084,209$609,899$2,047,922
66$4,562,862$1,040,487$533,482$2,114,806
67$4,928,375$991,572$451,455$2,187,674
68$5,328,023$937,113$363,533$2,267,264
69$5,765,190$876,740$269,419$2,354,401
70$6,243,599$810,060$168,805$2,450,003
71$6,767,353$736,660$61,366$2,555,097
72$7,340,967$656,100$0$2,670,825
73$7,969,414$567,918$0$2,811,537
74$8,658,174$471,625$0$2,982,495
75$9,413,276$366,704$0$3,170,289
76$10,241,367$252,608$0$3,376,767
77$11,149,762$128,762$0$3,603,977
78$12,146,523$0$0$3,854,188
79$13,240,527$0$0$4,132,787
80$14,441,554$0$0$4,513,504
81$15,760,376$0$0$4,931,769
82$17,208,860$0$0$5,391,370
83$18,800,079$0$0$5,896,483
84$20,548,434$0$0$6,451,705
85$22,469,789$0$0$7,062,104
86$24,581,623$0$0$7,733,262
87$26,903,191$0$0$8,471,329
88$29,455,708$0$0$9,283,081
89$32,262,546$0$0$10,175,983
90$35,349,455$0$0$11,158,262
91$38,744,808$0$0$12,238,979
92$42,479,862$0$0$13,428,120
93$46,589,059$0$0$14,736,688
94$51,110,346$0$0$16,176,805
95$56,085,534$0$0$17,761,829
96$61,560,692$0$0$19,506,478
97$67,586,581$0$0$21,426,968
98$74,219,132$0$0$23,541,170
99$81,519,972$0$0$25,868,772
100$89,557,009$0$0$28,431,472