Can I retire at age 48 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$160,203$158,776$157,384$156,025$154,698$151,451
2 years$79,309$77,832$76,400$75,012$73,666$70,410
3 years$52,347$50,864$49,436$48,061$46,737$43,573
4 years$38,869$37,390$35,977$34,625$33,333$30,286
5 years$30,784$29,314$27,919$26,596$25,339$22,418
6 years$25,396$23,937$22,563$21,269$20,050$17,258
7 years$21,549$20,103$18,750$17,486$16,306$13,643
8 years$18,665$17,232$15,901$14,669$13,527$10,993
9 years$16,423$15,003$13,696$12,494$11,392$8,984
10 years$14,631$13,225$11,940$10,770$9,707$7,423
11 years$13,165$11,773$10,512$9,373$8,348$6,186
12 years$11,945$10,567$9,329$8,222$7,234$5,190
13 years$10,913$9,549$8,335$7,259$6,308$4,379
14 years$10,029$8,680$7,489$6,443$5,530$3,711
15 years$9,264$7,929$6,762$5,746$4,869$3,157
16 years$8,595$7,275$6,130$5,145$4,303$2,694
17 years$8,005$6,700$5,578$4,623$3,816$2,305
18 years$7,482$6,191$5,092$4,166$3,393$1,976
19 years$7,014$5,738$4,662$3,765$3,024$1,698
20 years$6,593$5,332$4,278$3,409$2,701$1,461
21 years$6,213$4,967$3,935$3,094$2,417$1,259
22 years$5,868$4,636$3,627$2,813$2,167$1,086
23 years$5,554$4,336$3,349$2,562$1,945$937
24 years$5,266$4,063$3,097$2,337$1,748$810
25 years$5,002$3,813$2,869$2,134$1,573$701
26 years$4,758$3,583$2,660$1,951$1,417$606
27 years$4,533$3,372$2,470$1,786$1,277$525
28 years$4,324$3,178$2,297$1,637$1,153$455
29 years$4,130$2,998$2,137$1,501$1,041$394
30 years$3,949$2,831$1,991$1,377$940$342
31 years$3,780$2,676$1,856$1,265$850$296
32 years$3,622$2,532$1,732$1,163$769$257
33 years$3,474$2,398$1,617$1,069$696$223
34 years$3,335$2,273$1,511$984$630$193
35 years$3,204$2,156$1,412$905$571$168
36 years$3,081$2,046$1,321$834$517$146
37 years$2,965$1,943$1,237$768$469$126
38 years$2,855$1,847$1,158$708$425$110
39 years$2,751$1,756$1,085$653$385$95
40 years$2,652$1,671$1,017$602$350$83
41 years$2,559$1,591$954$556$317$72
42 years$2,470$1,515$894$513$288$62
43 years$2,385$1,443$839$473$261$54
44 years$2,305$1,376$788$437$237$47
45 years$2,228$1,312$740$404$215$41
46 years$2,155$1,251$695$373$195$36
47 years$2,086$1,194$653$345$177$31
48 years$2,019$1,140$613$318$161$27
49 years$1,955$1,089$577$294$146$23
50 years$1,894$1,040$542$272$133$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $1,940,000, adding $5,749 every year, while hoping to spend $21,199 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: 50/21/29 Blend
47$1,940,000$1,940,000$1,940,000$1,940,000
48$2,143,810$2,040,990$2,010,920$2,233,131
49$2,339,923$2,118,443$2,055,730$2,373,704
50$2,555,329$2,198,981$2,101,331$2,523,852
51$2,791,974$2,282,732$2,147,727$2,686,651
52$3,052,000$2,369,831$2,194,921$2,863,311
53$3,337,770$2,460,418$2,242,916$3,055,165
54$3,651,883$2,554,639$2,291,715$3,263,680
55$3,997,206$2,652,648$2,341,318$3,490,470
56$4,376,897$2,754,603$2,391,728$3,737,308
57$4,794,433$2,860,671$2,442,944$4,006,149
58$5,253,647$2,971,026$2,494,964$4,299,142
59$5,758,762$3,085,849$2,547,788$4,618,654
60$6,314,430$3,205,330$2,601,413$4,967,288
61$6,925,777$3,329,666$2,655,835$5,347,912
62$7,598,449$3,459,063$2,711,050$5,763,682
63$8,338,672$3,593,738$2,767,050$6,218,071
64$9,153,300$3,733,914$2,823,830$6,714,907
65$10,049,889$3,879,828$2,881,381$7,258,400
66$11,036,763$4,031,725$2,939,692$7,853,188
67$12,123,094$4,189,861$2,998,753$8,504,380
68$13,318,989$4,354,504$3,058,551$9,217,598
69$14,635,585$4,525,934$3,119,072$9,999,036
70$16,085,153$4,704,443$3,180,299$10,855,516
71$17,681,214$4,890,336$3,242,214$11,794,550
72$19,438,667$5,083,932$3,304,797$12,824,411
73$21,373,931$5,285,564$3,368,028$13,954,212
74$23,505,095$5,495,580$3,431,880$15,193,992
75$25,852,096$5,714,345$3,496,329$16,554,807
76$28,436,900$5,942,237$3,561,346$18,048,836
77$31,283,712$6,179,655$3,626,900$19,689,494
78$34,419,205$6,427,013$3,692,956$21,491,560
79$37,872,773$6,684,746$3,759,478$23,471,314
80$41,676,803$6,953,305$3,826,428$25,646,689
81$45,866,986$7,233,166$3,893,762$28,037,443
82$50,482,650$7,524,823$3,961,435$30,665,342
83$55,567,135$7,828,794$4,029,398$33,554,365
84$61,168,198$8,145,621$4,097,598$36,730,930
85$67,338,466$8,475,868$4,165,979$40,224,142
86$74,135,931$8,820,127$4,234,481$44,066,067
87$81,624,499$9,179,016$4,303,039$48,292,035
88$89,874,593$9,553,182$4,371,586$52,940,969
89$98,963,814$9,943,301$4,440,047$58,055,757
90$108,977,679$10,350,079$4,508,344$63,683,651
91$120,010,425$10,774,255$4,576,396$69,876,711
92$132,165,897$11,216,602$4,644,114$76,692,302
93$145,558,531$11,677,928$4,711,404$84,193,628
94$160,314,432$12,159,078$4,778,167$92,450,330
95$176,572,567$12,660,935$4,844,299$101,539,141
96$194,486,072$13,184,424$4,909,686$111,544,609
97$214,223,703$13,730,513$4,974,212$122,559,898
98$235,971,423$14,300,211$5,037,751$134,687,658
99$259,934,164$14,894,576$5,100,171$148,040,999
100$286,337,754$15,514,716$5,161,332$162,744,557