Can I retire at age 48 with 590,000?

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 $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%12.1%
1 years$48,722$48,288$47,864$47,451$47,047$46,634
2 years$24,120$23,670$23,235$22,813$22,404$21,987
3 years$15,920$15,469$15,035$14,616$14,214$13,807
4 years$11,821$11,371$10,941$10,530$10,137$9,743
5 years$9,362$8,915$8,491$8,088$7,706$7,326
6 years$7,724$7,280$6,862$6,468$6,098$5,732
7 years$6,554$6,114$5,702$5,318$4,959$4,608
8 years$5,677$5,241$4,836$4,461$4,114$3,778
9 years$4,995$4,563$4,165$3,800$3,465$3,143
10 years$4,450$4,022$3,631$3,276$2,952$2,645
11 years$4,004$3,580$3,197$2,851$2,539$2,246
12 years$3,633$3,214$2,837$2,500$2,200$1,921
13 years$3,319$2,904$2,535$2,208$1,919$1,653
14 years$3,050$2,640$2,278$1,960$1,682$1,429
15 years$2,817$2,412$2,056$1,748$1,481$1,241
16 years$2,614$2,213$1,864$1,565$1,309$1,081
17 years$2,435$2,038$1,697$1,406$1,160$945
18 years$2,275$1,883$1,549$1,267$1,032$828
19 years$2,133$1,745$1,418$1,145$920$727
20 years$2,005$1,622$1,301$1,037$821$640
21 years$1,890$1,510$1,197$941$735$564
22 years$1,785$1,410$1,103$856$659$498
23 years$1,689$1,319$1,018$779$591$440
24 years$1,602$1,236$942$711$532$389
25 years$1,521$1,159$872$649$478$344
26 years$1,447$1,090$809$593$431$305
27 years$1,378$1,026$751$543$389$271
28 years$1,315$966$698$498$351$240
29 years$1,256$912$650$456$317$213
30 years$1,201$861$605$419$286$190
31 years$1,150$814$564$385$259$168
32 years$1,102$770$527$354$234$150
33 years$1,057$729$492$325$212$133
34 years$1,014$691$459$299$192$119
35 years$975$656$430$275$174$106
36 years$937$622$402$254$157$94
37 years$902$591$376$234$143$84
38 years$868$562$352$215$129$75
39 years$837$534$330$199$117$66
40 years$807$508$309$183$106$59
41 years$778$484$290$169$96$53
42 years$751$461$272$156$88$47
43 years$725$439$255$144$79$42
44 years$701$418$240$133$72$37
45 years$678$399$225$123$65$33
46 years$655$381$211$113$59$30
47 years$634$363$199$105$54$26
48 years$614$347$187$97$49$24
49 years$595$331$175$89$45$21
50 years$576$316$165$83$40$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $590,000, adding $3,194 every year, while hoping to spend $27,684 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: 60/24/16 Blend
47$590,000$590,000$590,000$590,000
48$653,475$622,205$613,060$689,841
49$690,673$623,237$604,142$715,787
50$730,739$623,392$593,997$740,713
51$773,934$622,598$582,555$767,256
52$820,547$620,778$569,743$795,577
53$870,897$617,850$555,484$825,853
54$925,332$613,728$539,696$858,280
55$984,236$608,321$522,296$893,073
56$1,048,030$601,531$503,195$930,474
57$1,117,179$593,255$482,302$970,747
58$1,192,192$583,385$459,519$1,014,186
59$1,273,629$571,805$434,747$1,061,117
60$1,362,108$558,392$407,880$1,111,899
61$1,458,307$543,017$378,807$1,166,929
62$1,562,972$525,542$347,415$1,226,648
63$1,676,923$505,823$313,582$1,291,543
64$1,801,066$483,704$277,183$1,362,151
65$1,936,394$459,025$238,088$1,439,067
66$2,084,001$431,612$196,159$1,522,949
67$2,245,092$401,284$151,253$1,614,525
68$2,420,993$367,849$103,222$1,714,597
69$2,613,163$331,102$51,908$1,824,055
70$2,823,209$290,829$0$1,943,879
71$3,052,900$246,804$0$2,075,641
72$3,304,184$198,786$0$2,229,541
73$3,579,206$146,521$0$2,398,062
74$3,880,326$89,742$0$2,582,698
75$4,210,146$28,166$0$2,785,098
76$4,571,530$0$0$3,007,078
77$4,967,631$0$0$3,260,816
78$5,401,923$0$0$3,547,221
79$5,878,233$0$0$3,861,384
80$6,400,773$0$0$4,206,090
81$6,974,186$0$0$4,584,408
82$7,603,583$0$0$4,999,718
83$8,294,597$0$0$5,455,742
84$9,053,431$0$0$5,956,580
85$9,886,919$0$0$6,506,752
86$10,802,589$0$0$7,111,232
87$11,808,734$0$0$7,775,505
88$12,914,491$0$0$8,505,610
89$14,129,924$0$0$9,308,201
90$15,466,124$0$0$10,190,610
91$16,935,307$0$0$11,160,912
92$18,550,934$0$0$12,228,008
93$20,327,833$0$0$13,401,701
94$22,282,345$0$0$14,692,794
95$24,432,470$0$0$16,113,187
96$26,798,044$0$0$17,675,995
97$29,400,920$0$0$19,395,667
98$32,265,179$0$0$21,288,122
99$35,417,350$0$0$23,370,901
100$38,886,669$0$0$25,663,332