Can I retire at age 48 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$102,398$101,486$100,596$99,727$98,879$95,906
2 years$50,692$49,748$48,833$47,946$47,085$44,115
3 years$33,459$32,511$31,598$30,719$29,873$26,999
4 years$24,844$23,899$22,995$22,132$21,306$18,549
5 years$19,677$18,737$17,845$16,999$16,196$13,565
6 years$16,233$15,300$14,422$13,594$12,815$10,312
7 years$13,774$12,849$11,985$11,177$10,422$8,047
8 years$11,930$11,014$10,164$9,376$8,646$6,397
9 years$10,497$9,590$8,754$7,986$7,282$5,156
10 years$9,352$8,453$7,632$6,884$6,204$4,200
11 years$8,415$7,525$6,719$5,991$5,336$3,448
12 years$7,635$6,754$5,963$5,255$4,624$2,850
13 years$6,975$6,104$5,328$4,640$4,032$2,368
14 years$6,410$5,548$4,787$4,118$3,535$1,975
15 years$5,921$5,068$4,322$3,673$3,112$1,654
16 years$5,494$4,650$3,918$3,289$2,750$1,388
17 years$5,117$4,283$3,566$2,955$2,439$1,168
18 years$4,782$3,957$3,255$2,663$2,168$985
19 years$4,483$3,668$2,980$2,406$1,933$831
20 years$4,214$3,408$2,735$2,179$1,726$703
21 years$3,971$3,174$2,515$1,978$1,545$595
22 years$3,751$2,963$2,318$1,798$1,385$504
23 years$3,550$2,771$2,141$1,638$1,243$428
24 years$3,366$2,597$1,980$1,494$1,117$363
25 years$3,197$2,437$1,834$1,364$1,005$308
26 years$3,041$2,290$1,701$1,247$906$262
27 years$2,897$2,155$1,579$1,142$817$222
28 years$2,764$2,031$1,468$1,046$737$189
29 years$2,640$1,916$1,366$959$665$161
30 years$2,524$1,810$1,272$880$601$137
31 years$2,416$1,711$1,186$809$543$116
32 years$2,315$1,619$1,107$743$492$99
33 years$2,221$1,533$1,033$683$445$84
34 years$2,132$1,453$966$629$403$72
35 years$2,048$1,378$903$579$365$61
36 years$1,969$1,308$844$533$331$52
37 years$1,895$1,242$790$491$300$44
38 years$1,825$1,180$740$453$272$38
39 years$1,758$1,123$693$417$246$32
40 years$1,695$1,068$650$385$223$27
41 years$1,635$1,017$609$355$203$23
42 years$1,579$968$572$328$184$20
43 years$1,525$922$536$303$167$17
44 years$1,473$879$504$279$152$14
45 years$1,424$839$473$258$138$12
46 years$1,378$800$444$238$125$10
47 years$1,333$763$417$220$113$9
48 years$1,290$729$392$203$103$8
49 years$1,250$696$369$188$94$6
50 years$1,211$665$346$174$85$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $1,240,000, adding $2,465 every year, while hoping to spend $57,342 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: 76/15/9 Blend
47$1,240,000$1,240,000$1,240,000$1,240,000
48$1,369,023$1,303,303$1,284,083$1,470,874
49$1,447,652$1,306,153$1,266,088$1,541,087
50$1,532,379$1,307,221$1,245,569$1,610,476
51$1,623,766$1,306,359$1,222,379$1,684,897
52$1,722,429$1,303,410$1,196,369$1,764,826
53$1,829,047$1,298,208$1,167,377$1,850,790
54$1,944,364$1,290,574$1,135,239$1,943,372
55$2,069,200$1,280,323$1,099,780$2,043,210
56$2,204,454$1,267,254$1,060,818$2,151,010
57$2,351,115$1,251,157$1,018,162$2,267,552
58$2,510,273$1,231,808$971,615$2,393,692
59$2,683,125$1,208,970$920,968$2,530,378
60$2,870,987$1,182,393$866,004$2,678,652
61$3,075,308$1,151,810$806,495$2,839,665
62$3,297,680$1,116,940$742,204$3,014,685
63$3,539,859$1,077,486$672,883$3,205,111
64$3,803,773$1,033,131$598,273$3,412,486
65$4,091,546$983,542$518,103$3,638,511
66$4,405,515$928,368$432,091$3,885,061
67$4,748,253$867,233$339,941$4,154,207
68$5,122,592$799,744$241,346$4,448,228
69$5,531,648$725,484$135,984$4,769,640
70$5,978,855$644,011$23,518$5,121,218
71$6,467,991$554,860$0$5,506,020
72$7,003,216$457,538$0$5,936,688
73$7,589,112$351,526$0$6,410,687
74$8,230,724$236,273$0$6,929,894
75$8,933,608$111,200$0$7,498,871
76$9,703,880$0$0$8,122,646
77$10,548,281$0$0$8,810,773
78$11,474,231$0$0$9,585,530
79$12,489,903$0$0$10,435,408
80$13,604,301$0$0$11,367,947
81$14,827,341$0$0$12,391,450
82$16,169,946$0$0$13,515,067
83$17,644,148$0$0$14,748,872
84$19,263,203$0$0$16,103,966
85$21,041,711$0$0$17,592,577
86$22,995,757$0$0$19,228,176
87$25,143,061$0$0$21,025,602
88$27,503,144$0$0$23,001,205
89$30,097,514$0$0$25,172,995
90$32,949,865$0$0$27,560,816
91$36,086,302$0$0$30,186,531
92$39,535,585$0$0$33,074,226
93$43,329,402$0$0$36,250,438
94$47,502,665$0$0$39,744,408
95$52,093,842$0$0$43,588,350
96$57,145,315$0$0$47,817,759
97$62,703,783$0$0$52,471,745
98$68,820,697$0$0$57,593,399
99$75,552,753$0$0$63,230,203
100$82,962,417$0$0$69,434,473