Can I retire at age 48 with 1,960,000?

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 $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$161,855$160,413$159,007$157,634$156,293$155,438
2 years$80,126$78,634$77,188$75,785$74,425$73,563
3 years$52,887$51,388$49,946$48,556$47,218$46,375
4 years$39,270$37,776$36,348$34,982$33,677$32,859
5 years$31,102$29,617$28,207$26,870$25,600$24,810
6 years$25,658$24,184$22,796$21,488$20,257$19,496
7 years$21,771$20,310$18,943$17,666$16,474$15,742
8 years$18,858$17,409$16,065$14,820$13,667$12,964
9 years$16,593$15,158$13,837$12,623$11,510$10,836
10 years$14,782$13,361$12,064$10,881$9,807$9,162
11 years$13,301$11,894$10,621$9,470$8,434$7,818
12 years$12,068$10,676$9,425$8,307$7,309$6,720
13 years$11,025$9,648$8,421$7,333$6,373$5,812
14 years$10,132$8,770$7,566$6,510$5,587$5,052
15 years$9,359$8,011$6,831$5,806$4,919$4,411
16 years$8,684$7,350$6,194$5,198$4,348$3,864
17 years$8,088$6,769$5,636$4,671$3,855$3,396
18 years$7,559$6,255$5,145$4,209$3,428$2,993
19 years$7,086$5,797$4,710$3,803$3,055$2,643
20 years$6,661$5,387$4,323$3,445$2,729$2,339
21 years$6,278$5,018$3,976$3,126$2,442$2,073
22 years$5,929$4,684$3,664$2,842$2,189$1,841
23 years$5,611$4,381$3,383$2,589$1,965$1,637
24 years$5,320$4,104$3,129$2,361$1,766$1,457
25 years$5,053$3,852$2,898$2,156$1,589$1,298
26 years$4,807$3,620$2,688$1,972$1,431$1,157
27 years$4,579$3,407$2,496$1,805$1,291$1,033
28 years$4,368$3,210$2,320$1,653$1,165$923
29 years$4,172$3,029$2,159$1,516$1,052$825
30 years$3,990$2,860$2,011$1,392$950$737
31 years$3,819$2,704$1,875$1,278$859$660
32 years$3,660$2,558$1,749$1,174$777$590
33 years$3,510$2,423$1,633$1,080$703$529
34 years$3,370$2,296$1,526$994$637$474
35 years$3,237$2,178$1,427$915$577$424
36 years$3,113$2,067$1,335$843$522$380
37 years$2,995$1,963$1,249$776$474$341
38 years$2,884$1,866$1,170$715$429$306
39 years$2,779$1,774$1,096$660$389$274
40 years$2,680$1,688$1,027$608$353$246
41 years$2,585$1,607$963$561$320$221
42 years$2,495$1,530$904$518$291$198
43 years$2,410$1,458$848$478$264$178
44 years$2,329$1,390$796$442$239$160
45 years$2,251$1,325$747$408$217$143
46 years$2,178$1,264$702$377$197$129
47 years$2,107$1,207$660$348$179$115
48 years$2,040$1,152$620$322$163$104
49 years$1,975$1,100$583$297$148$93
50 years$1,914$1,051$548$275$134$84

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $1,960,000, adding $3,759 every year, while hoping to spend $33,001 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: 69/24/7 Blend
47$1,960,000$1,960,000$1,960,000$1,960,000
48$2,163,797$2,059,917$2,029,537$2,310,412
49$2,349,392$2,125,741$2,062,414$2,473,779
50$2,552,811$2,193,683$2,095,286$2,648,032
51$2,775,838$2,263,814$2,128,118$2,837,745
52$3,020,437$2,336,204$2,160,874$3,044,427
53$3,288,771$2,410,927$2,193,513$3,269,739
54$3,583,223$2,488,060$2,225,993$3,515,509
55$3,906,418$2,567,681$2,258,269$3,783,749
56$4,261,246$2,649,871$2,290,295$4,076,675
57$4,650,892$2,734,714$2,322,019$4,396,725
58$5,078,865$2,822,297$2,353,388$4,746,586
59$5,549,029$2,912,709$2,384,346$5,129,215
60$6,065,641$3,006,043$2,414,833$5,547,867
61$6,633,392$3,102,395$2,444,786$6,006,129
62$7,257,449$3,201,863$2,474,137$6,507,951
63$7,943,504$3,304,550$2,502,816$7,057,681
64$8,697,829$3,410,561$2,530,749$7,660,109
65$9,527,335$3,520,005$2,557,856$8,320,512
66$10,439,633$3,632,995$2,584,054$9,044,701
67$11,443,112$3,749,648$2,609,256$9,839,076
68$12,547,013$3,870,085$2,633,369$10,710,689
69$13,761,518$3,994,428$2,656,297$11,667,306
70$15,097,845$4,122,808$2,677,936$12,717,483
71$16,568,357$4,255,357$2,698,178$13,870,645
72$18,186,672$4,392,213$2,716,910$15,137,174
73$19,967,799$4,533,517$2,734,012$16,528,510
74$21,928,272$4,679,417$2,749,359$18,057,253
75$24,086,312$4,830,064$2,762,819$19,737,287
76$26,461,994$4,985,616$2,774,252$21,583,907
77$29,077,441$5,146,235$2,783,513$23,613,963
78$31,957,028$5,312,088$2,790,448$25,846,023
79$35,127,613$5,483,349$2,794,897$28,300,541
80$38,618,794$5,660,197$2,796,690$31,000,055
81$42,463,182$5,842,818$2,795,651$33,969,397
82$46,696,714$6,031,404$2,791,592$37,235,927
83$51,358,989$6,226,152$2,784,320$40,829,791
84$56,493,640$6,427,268$2,773,630$44,784,205
85$62,148,751$6,634,964$2,759,306$49,135,768
86$68,377,306$6,849,459$2,741,124$53,924,808
87$75,237,688$7,070,980$2,718,849$59,195,758
88$82,794,235$7,299,761$2,692,234$64,997,582
89$91,117,843$7,536,044$2,661,019$71,384,228
90$100,286,634$7,780,082$2,624,934$78,415,145
91$110,386,697$8,032,132$2,583,696$86,155,837
92$121,512,898$8,292,464$2,537,008$94,678,485
93$133,769,774$8,561,356$2,484,558$104,062,624
94$147,272,522$8,839,093$2,426,022$114,395,898
95$162,148,084$9,125,974$2,361,059$125,774,881
96$178,536,348$9,422,306$2,289,313$138,305,992
97$196,591,463$9,728,406$2,210,413$152,106,498
98$216,483,298$10,044,604$2,123,968$167,305,618
99$238,399,046$10,371,241$2,029,571$184,045,746
100$262,544,984$10,708,668$1,926,798$202,483,790