Can I retire at age 48 with 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 $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%17.9%
1 years$77,624$76,933$76,258$75,600$74,957$72,557
2 years$38,428$37,712$37,019$36,346$35,694$33,299
3 years$25,364$24,645$23,953$23,287$22,646$20,330
4 years$18,834$18,117$17,432$16,777$16,151$13,932
5 years$14,916$14,204$13,528$12,886$12,278$10,162
6 years$12,305$11,599$10,933$10,305$9,715$7,704
7 years$10,441$9,740$9,085$8,473$7,901$5,994
8 years$9,044$8,349$7,705$7,108$6,555$4,751
9 years$7,958$7,270$6,636$6,054$5,520$3,818
10 years$7,089$6,408$5,786$5,219$4,703$3,100
11 years$6,379$5,704$5,094$4,542$4,045$2,537
12 years$5,788$5,120$4,520$3,984$3,505$2,090
13 years$5,288$4,627$4,039$3,517$3,057$1,731
14 years$4,859$4,206$3,629$3,122$2,679$1,439
15 years$4,489$3,842$3,276$2,784$2,359$1,200
16 years$4,165$3,525$2,970$2,493$2,085$1,004
17 years$3,879$3,246$2,703$2,240$1,849$842
18 years$3,625$3,000$2,467$2,019$1,644$707
19 years$3,399$2,780$2,259$1,824$1,465$595
20 years$3,195$2,584$2,073$1,652$1,309$501
21 years$3,011$2,406$1,907$1,499$1,171$422
22 years$2,843$2,246$1,757$1,363$1,050$356
23 years$2,691$2,101$1,623$1,242$942$301
24 years$2,552$1,968$1,501$1,132$847$254
25 years$2,423$1,847$1,390$1,034$762$215
26 years$2,305$1,736$1,289$946$687$182
27 years$2,196$1,634$1,197$865$619$154
28 years$2,095$1,540$1,113$793$559$130
29 years$2,001$1,452$1,036$727$504$110
30 years$1,913$1,372$965$667$456$94
31 years$1,832$1,297$899$613$412$79
32 years$1,755$1,227$839$563$373$67
33 years$1,683$1,162$783$518$337$57
34 years$1,616$1,101$732$477$305$48
35 years$1,553$1,045$684$439$277$41
36 years$1,493$991$640$404$251$35
37 years$1,437$942$599$372$227$29
38 years$1,383$895$561$343$206$25
39 years$1,333$851$526$316$187$21
40 years$1,285$810$493$292$169$18
41 years$1,240$771$462$269$154$15
42 years$1,197$734$433$248$139$13
43 years$1,156$699$407$229$127$11
44 years$1,117$667$382$212$115$9
45 years$1,080$636$358$196$104$8
46 years$1,044$606$337$181$95$7
47 years$1,011$579$316$167$86$6
48 years$978$552$297$154$78$5
49 years$947$528$279$143$71$4
50 years$918$504$263$132$64$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $940,000, adding $6,370 every year, while hoping to spend $31,982 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: 43/47/10 Blend
47$940,000$940,000$940,000$940,000
48$1,042,451$992,631$978,061$1,083,993
49$1,114,752$1,007,241$976,797$1,128,179
50$1,193,356$1,021,495$974,419$1,172,283
51$1,278,872$1,035,342$970,856$1,219,342
52$1,371,971$1,048,727$966,033$1,269,639
53$1,473,389$1,061,592$959,872$1,323,485
54$1,583,938$1,073,873$952,291$1,381,227
55$1,704,511$1,085,505$943,205$1,443,245
56$1,836,092$1,096,415$932,523$1,509,962
57$1,979,762$1,106,529$920,151$1,581,843
58$2,136,713$1,115,764$905,991$1,659,402
59$2,308,256$1,124,034$889,940$1,743,207
60$2,495,834$1,131,248$871,889$1,833,887
61$2,701,038$1,137,308$851,726$1,932,134
62$2,925,617$1,142,109$829,333$2,038,716
63$3,171,499$1,145,542$804,585$2,154,477
64$3,440,807$1,147,488$777,353$2,280,352
65$3,735,877$1,147,823$747,502$2,417,374
66$4,059,283$1,146,413$714,890$2,566,682
67$4,413,861$1,143,118$679,370$2,729,534
68$4,802,733$1,137,789$640,787$2,907,321
69$5,229,337$1,130,266$598,979$3,101,578
70$5,697,462$1,120,382$553,777$3,313,998
71$6,211,279$1,107,957$505,005$3,546,454
72$6,775,386$1,092,802$452,478$3,801,010
73$7,394,843$1,074,718$396,004$4,079,947
74$8,075,229$1,053,491$335,382$4,385,782
75$8,822,687$1,028,896$270,402$4,721,295
76$9,643,984$1,000,696$200,844$5,089,551
77$10,546,578$968,637$126,479$5,493,936
78$11,538,682$932,453$47,069$5,938,187
79$12,629,345$891,861$0$6,426,426
80$13,828,538$846,562$0$6,967,225
81$15,147,246$796,240$0$7,567,204
82$16,597,569$740,561$0$8,226,907
83$18,192,843$679,170$0$8,952,478
84$19,947,758$611,694$0$9,750,692
85$21,878,500$537,738$0$10,629,026
86$24,002,905$456,884$0$11,595,725
87$26,340,621$368,692$0$12,659,882
88$28,913,302$272,695$0$13,831,528
89$31,744,803$168,402$0$15,121,724
90$34,861,411$55,291$0$16,542,670
91$38,292,090$0$0$18,107,821
92$42,068,755$0$0$19,866,761
93$46,226,572$0$0$21,834,844
94$50,804,291$0$0$24,001,834
95$55,844,609$0$0$26,387,962
96$61,394,576$0$0$29,015,521
97$67,506,035$0$0$31,909,074
98$74,236,112$0$0$35,095,689
99$81,647,758$0$0$38,605,194
100$89,810,339$0$0$42,470,455