Can I retire at age 48 with 1,320,000?

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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$109,004$108,033$107,086$106,161$105,259$102,839
2 years$53,963$52,958$51,984$51,039$50,123$47,699
3 years$35,618$34,608$33,637$32,701$31,800$29,447
4 years$26,447$25,441$24,479$23,559$22,680$20,416
5 years$20,946$19,946$18,997$18,096$17,241$15,073
6 years$17,280$16,287$15,352$14,471$13,642$11,571
7 years$14,662$13,678$12,758$11,898$11,095$9,122
8 years$12,700$11,725$10,820$9,981$9,204$7,329
9 years$11,175$10,208$9,319$8,501$7,751$5,972
10 years$9,955$8,998$8,124$7,328$6,604$4,919
11 years$8,958$8,011$7,153$6,378$5,680$4,086
12 years$8,127$7,190$6,348$5,594$4,922$3,417
13 years$7,425$6,498$5,671$4,939$4,292$2,873
14 years$6,824$5,906$5,096$4,384$3,763$2,427
15 years$6,303$5,395$4,601$3,910$3,313$2,057
16 years$5,848$4,950$4,171$3,501$2,928$1,749
17 years$5,447$4,559$3,796$3,146$2,596$1,491
18 years$5,091$4,213$3,465$2,835$2,308$1,274
19 years$4,772$3,904$3,172$2,561$2,057$1,091
20 years$4,486$3,628$2,911$2,320$1,838$935
21 years$4,228$3,379$2,678$2,105$1,645$802
22 years$3,993$3,154$2,468$1,914$1,474$689
23 years$3,779$2,950$2,279$1,743$1,323$593
24 years$3,583$2,764$2,107$1,590$1,189$510
25 years$3,403$2,594$1,952$1,452$1,070$440
26 years$3,237$2,438$1,810$1,328$964$379
27 years$3,084$2,294$1,681$1,215$869$327
28 years$2,942$2,162$1,563$1,114$784$282
29 years$2,810$2,040$1,454$1,021$708$243
30 years$2,687$1,926$1,355$937$640$210
31 years$2,572$1,821$1,263$861$579$181
32 years$2,465$1,723$1,178$791$523$157
33 years$2,364$1,632$1,100$727$474$135
34 years$2,269$1,546$1,028$669$429$117
35 years$2,180$1,467$961$616$388$101
36 years$2,096$1,392$899$567$352$87
37 years$2,017$1,322$841$523$319$75
38 years$1,943$1,257$788$482$289$65
39 years$1,872$1,195$738$444$262$56
40 years$1,805$1,137$692$410$238$49
41 years$1,741$1,082$649$378$216$42
42 years$1,681$1,031$609$349$196$36
43 years$1,623$982$571$322$178$32
44 years$1,568$936$536$297$161$27
45 years$1,516$893$503$275$146$24
46 years$1,466$852$473$254$133$20
47 years$1,419$813$444$234$121$18
48 years$1,374$776$417$217$110$15
49 years$1,330$741$392$200$100$13
50 years$1,289$708$369$185$90$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $1,320,000, adding $2,923 every year, while hoping to spend $26,197 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: 49/32/19 Blend
47$1,320,000$1,320,000$1,320,000$1,320,000
48$1,457,655$1,387,695$1,367,235$1,521,186
49$1,578,462$1,427,819$1,385,164$1,605,634
50$1,710,714$1,469,030$1,402,816$1,694,410
51$1,855,550$1,511,356$1,420,153$1,790,296
52$2,014,225$1,554,821$1,437,137$1,893,970
53$2,188,121$1,599,452$1,453,726$2,006,179
54$2,378,760$1,645,277$1,469,877$2,127,746
55$2,587,820$1,692,321$1,485,543$2,259,576
56$2,817,145$1,740,613$1,500,677$2,402,666
57$3,068,772$1,790,180$1,515,227$2,558,114
58$3,344,938$1,841,051$1,529,140$2,727,127
59$3,648,114$1,893,254$1,542,357$2,911,038
60$3,981,015$1,946,818$1,554,820$3,111,312
61$4,346,638$2,001,771$1,566,466$3,329,564
62$4,748,280$2,058,143$1,577,228$3,567,570
63$5,189,576$2,115,963$1,587,036$3,827,291
64$5,674,528$2,175,261$1,595,817$4,110,883
65$6,207,548$2,236,066$1,603,495$4,420,722
66$6,793,493$2,298,409$1,609,988$4,759,427
67$7,437,718$2,362,319$1,615,210$5,129,881
68$8,146,118$2,427,826$1,619,073$5,535,262
69$8,925,193$2,494,961$1,621,483$5,979,070
70$9,782,101$2,563,752$1,622,341$6,465,161
71$10,724,730$2,634,230$1,621,543$6,997,784
72$11,761,769$2,706,424$1,618,982$7,581,621
73$12,902,795$2,780,364$1,614,543$8,221,830
74$14,158,357$2,856,079$1,608,107$8,924,093
75$15,540,080$2,933,597$1,599,549$9,694,674
76$17,060,772$3,012,947$1,588,738$10,540,472
77$18,734,546$3,094,157$1,575,536$11,469,091
78$20,576,953$3,177,254$1,559,800$12,488,909
79$22,605,127$3,262,264$1,541,378$13,609,156
80$24,837,948$3,349,214$1,520,113$14,840,007
81$27,296,221$3,438,127$1,495,839$16,192,670
82$30,002,869$3,529,029$1,468,383$17,679,499
83$32,983,151$3,621,942$1,437,564$19,314,105
84$36,264,903$3,716,886$1,403,192$21,111,489
85$39,878,793$3,813,884$1,365,069$23,088,178
86$43,858,618$3,912,953$1,322,987$25,262,390
87$48,241,620$4,014,110$1,276,729$27,654,195
88$53,068,834$4,117,370$1,226,069$30,285,714
89$58,385,481$4,222,748$1,170,769$33,181,323
90$64,241,391$4,330,253$1,110,580$36,367,884
91$70,691,471$4,439,894$1,045,243$39,874,999
92$77,796,230$4,551,678$974,488$43,735,289
93$85,622,343$4,665,607$898,030$47,984,703
94$94,243,282$4,781,682$815,574$52,662,859
95$103,740,012$4,899,900$726,811$57,813,412
96$114,201,752$5,020,254$631,418$63,484,474
97$125,726,818$5,142,733$529,058$69,729,064
98$138,423,550$5,267,323$419,377$76,605,611
99$152,411,335$5,394,005$302,009$84,178,501
100$167,821,734$5,522,754$176,570$92,518,694