Can I retire at age 48 with 940,000?

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 $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%16.9%
1 years$77,624$76,933$76,258$75,600$74,957$72,850
2 years$38,428$37,712$37,019$36,346$35,694$33,587
3 years$25,364$24,645$23,953$23,287$22,646$20,605
4 years$18,834$18,117$17,432$16,777$16,151$14,192
5 years$14,916$14,204$13,528$12,886$12,278$10,406
6 years$12,305$11,599$10,933$10,305$9,715$7,933
7 years$10,441$9,740$9,085$8,473$7,901$6,208
8 years$9,044$8,349$7,705$7,108$6,555$4,949
9 years$7,958$7,270$6,636$6,054$5,520$4,001
10 years$7,089$6,408$5,786$5,219$4,703$3,269
11 years$6,379$5,704$5,094$4,542$4,045$2,693
12 years$5,788$5,120$4,520$3,984$3,505$2,233
13 years$5,288$4,627$4,039$3,517$3,057$1,862
14 years$4,859$4,206$3,629$3,122$2,679$1,558
15 years$4,489$3,842$3,276$2,784$2,359$1,309
16 years$4,165$3,525$2,970$2,493$2,085$1,103
17 years$3,879$3,246$2,703$2,240$1,849$931
18 years$3,625$3,000$2,467$2,019$1,644$788
19 years$3,399$2,780$2,259$1,824$1,465$668
20 years$3,195$2,584$2,073$1,652$1,309$567
21 years$3,011$2,406$1,907$1,499$1,171$482
22 years$2,843$2,246$1,757$1,363$1,050$410
23 years$2,691$2,101$1,623$1,242$942$349
24 years$2,552$1,968$1,501$1,132$847$297
25 years$2,423$1,847$1,390$1,034$762$253
26 years$2,305$1,736$1,289$946$687$216
27 years$2,196$1,634$1,197$865$619$184
28 years$2,095$1,540$1,113$793$559$157
29 years$2,001$1,452$1,036$727$504$134
30 years$1,913$1,372$965$667$456$115
31 years$1,832$1,297$899$613$412$98
32 years$1,755$1,227$839$563$373$84
33 years$1,683$1,162$783$518$337$72
34 years$1,616$1,101$732$477$305$61
35 years$1,553$1,045$684$439$277$52
36 years$1,493$991$640$404$251$45
37 years$1,437$942$599$372$227$38
38 years$1,383$895$561$343$206$33
39 years$1,333$851$526$316$187$28
40 years$1,285$810$493$292$169$24
41 years$1,240$771$462$269$154$20
42 years$1,197$734$433$248$139$17
43 years$1,156$699$407$229$127$15
44 years$1,117$667$382$212$115$13
45 years$1,080$636$358$196$104$11
46 years$1,044$606$337$181$95$9
47 years$1,011$579$316$167$86$8
48 years$978$552$297$154$78$7
49 years$947$528$279$143$71$6
50 years$918$504$263$132$64$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $940,000, adding $5,290 every year, while hoping to spend $44,467 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: 37/42/21 Blend
47$940,000$940,000$940,000$940,000
48$1,041,337$991,517$976,947$1,073,112
49$1,100,240$992,788$962,362$1,097,973
50$1,163,662$992,632$945,798$1,120,266
51$1,232,015$990,931$927,142$1,143,439
52$1,305,755$987,561$906,275$1,167,595
53$1,385,381$982,390$883,074$1,192,855
54$1,471,441$975,278$857,408$1,219,352
55$1,564,538$966,077$829,142$1,247,237
56$1,665,337$954,631$798,134$1,276,681
57$1,774,566$940,772$764,236$1,307,876
58$1,893,025$924,324$727,292$1,341,036
59$2,021,598$905,100$687,140$1,376,405
60$2,161,252$882,901$643,611$1,414,253
61$2,313,055$857,518$596,527$1,454,884
62$2,478,180$828,730$545,704$1,498,639
63$2,657,917$796,300$490,947$1,545,899
64$2,853,686$759,981$432,056$1,597,089
65$3,067,051$719,508$368,819$1,652,686
66$3,299,731$674,605$301,015$1,713,219
67$3,553,619$624,977$228,415$1,779,283
68$3,830,800$570,312$150,778$1,851,536
69$4,133,566$510,282$67,853$1,930,716
70$4,464,443$444,539$0$2,017,642
71$4,826,211$372,716$0$2,117,853
72$5,221,931$294,426$0$2,244,263
73$5,654,973$209,258$0$2,382,847
74$6,129,048$116,779$0$2,534,926
75$6,648,242$16,533$0$2,701,965
76$7,217,057$0$0$2,885,586
77$7,840,447$0$0$3,130,087
78$8,523,872$0$0$3,406,643
79$9,273,342$0$0$3,710,062
80$10,095,479$0$0$4,043,042
81$10,997,577$0$0$4,408,555
82$11,987,667$0$0$4,809,873
83$13,074,600$0$0$5,250,603
84$14,268,121$0$0$5,734,716
85$15,578,969$0$0$6,266,587
86$17,018,972$0$0$6,851,038
87$18,601,160$0$0$7,493,379
88$20,339,888$0$0$8,199,459
89$22,250,971$0$0$8,975,726
90$24,351,832$0$0$9,829,279
91$26,661,664$0$0$10,767,942
92$29,201,618$0$0$11,800,335
93$31,994,990$0$0$12,935,955
94$35,067,454$0$0$14,185,267
95$38,447,291$0$0$15,559,798
96$42,165,665$0$0$17,072,251
97$46,256,910$0$0$18,736,624
98$50,758,859$0$0$20,568,337
99$55,713,194$0$0$22,584,383
100$61,165,845$0$0$24,803,486