Can I retire at age 48 with 590,000?

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 $590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$48,722$48,288$47,864$47,451$47,047$46,595
2 years$24,120$23,670$23,235$22,813$22,404$21,948
3 years$15,920$15,469$15,035$14,616$14,214$13,769
4 years$11,821$11,371$10,941$10,530$10,137$9,707
5 years$9,362$8,915$8,491$8,088$7,706$7,291
6 years$7,724$7,280$6,862$6,468$6,098$5,698
7 years$6,554$6,114$5,702$5,318$4,959$4,576
8 years$5,677$5,241$4,836$4,461$4,114$3,747
9 years$4,995$4,563$4,165$3,800$3,465$3,114
10 years$4,450$4,022$3,631$3,276$2,952$2,617
11 years$4,004$3,580$3,197$2,851$2,539$2,219
12 years$3,633$3,214$2,837$2,500$2,200$1,896
13 years$3,319$2,904$2,535$2,208$1,919$1,629
14 years$3,050$2,640$2,278$1,960$1,682$1,407
15 years$2,817$2,412$2,056$1,748$1,481$1,220
16 years$2,614$2,213$1,864$1,565$1,309$1,062
17 years$2,435$2,038$1,697$1,406$1,160$927
18 years$2,275$1,883$1,549$1,267$1,032$811
19 years$2,133$1,745$1,418$1,145$920$711
20 years$2,005$1,622$1,301$1,037$821$625
21 years$1,890$1,510$1,197$941$735$550
22 years$1,785$1,410$1,103$856$659$484
23 years$1,689$1,319$1,018$779$591$427
24 years$1,602$1,236$942$711$532$377
25 years$1,521$1,159$872$649$478$334
26 years$1,447$1,090$809$593$431$295
27 years$1,378$1,026$751$543$389$261
28 years$1,315$966$698$498$351$232
29 years$1,256$912$650$456$317$205
30 years$1,201$861$605$419$286$182
31 years$1,150$814$564$385$259$162
32 years$1,102$770$527$354$234$143
33 years$1,057$729$492$325$212$127
34 years$1,014$691$459$299$192$113
35 years$975$656$430$275$174$101
36 years$937$622$402$254$157$89
37 years$902$591$376$234$143$79
38 years$868$562$352$215$129$71
39 years$837$534$330$199$117$63
40 years$807$508$309$183$106$56
41 years$778$484$290$169$96$50
42 years$751$461$272$156$88$44
43 years$725$439$255$144$79$39
44 years$701$418$240$133$72$35
45 years$678$399$225$123$65$31
46 years$655$381$211$113$59$28
47 years$634$363$199$105$54$25
48 years$614$347$187$97$49$22
49 years$595$331$175$89$45$20
50 years$576$316$165$83$40$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $590,000, adding $6,345 every year, while hoping to spend $36,290 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: 48/47/5 Blend
47$590,000$590,000$590,000$590,000
48$656,725$625,455$616,310$687,115
49$685,099$617,490$598,344$700,595
50$715,150$607,918$578,560$710,839
51$747,012$596,623$556,859$721,095
52$780,830$583,480$533,136$731,373
53$816,763$568,359$507,284$741,687
54$854,983$551,119$479,189$752,054
55$895,682$531,615$448,732$762,496
56$939,067$509,689$415,790$773,041
57$985,367$485,178$380,234$783,721
58$1,034,829$457,908$341,927$794,575
59$1,087,730$427,693$300,729$805,650
60$1,144,367$394,339$256,493$817,000
61$1,205,071$357,640$209,064$828,692
62$1,270,202$317,378$158,281$840,799
63$1,340,156$273,323$103,977$853,409
64$1,415,367$225,231$45,975$866,624
65$1,496,314$172,847$0$880,559
66$1,583,519$115,897$0$896,198
67$1,677,559$54,097$0$915,517
68$1,779,065$0$0$936,245
69$1,888,732$0$0$965,244
70$2,007,323$0$0$1,026,909
71$2,135,678$0$0$1,093,704
72$2,274,718$0$0$1,166,118
73$2,425,459$0$0$1,244,684
74$2,589,015$0$0$1,329,993
75$2,766,612$0$0$1,422,691
76$2,959,601$0$0$1,523,491
77$3,169,464$0$0$1,633,176
78$3,397,835$0$0$1,752,610
79$3,646,509$0$0$1,882,741
80$3,917,465$0$0$2,024,613
81$4,212,877$0$0$2,179,375
82$4,535,139$0$0$2,348,294
83$4,886,888$0$0$2,532,760
84$5,271,023$0$0$2,734,308
85$5,690,739$0$0$2,954,625
86$6,149,552$0$0$3,195,568
87$6,651,331$0$0$3,459,185
88$7,200,340$0$0$3,747,727
89$7,801,271$0$0$4,063,674
90$8,459,291$0$0$4,409,760
91$9,180,091$0$0$4,788,991
92$9,969,938$0$0$5,204,681
93$10,835,735$0$0$5,660,479
94$11,785,082$0$0$6,160,403
95$12,826,351$0$0$6,708,879
96$13,968,765$0$0$7,310,784
97$15,222,479$0$0$7,971,488
98$16,598,683$0$0$8,696,906
99$18,109,700$0$0$9,493,555
100$19,769,107$0$0$10,368,613