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%15.8%
1 years$77,624$76,933$76,258$75,600$74,957$73,175
2 years$38,428$37,712$37,019$36,346$35,694$33,909
3 years$25,364$24,645$23,953$23,287$22,646$20,913
4 years$18,834$18,117$17,432$16,777$16,151$14,485
5 years$14,916$14,204$13,528$12,886$12,278$10,682
6 years$12,305$11,599$10,933$10,305$9,715$8,192
7 years$10,441$9,740$9,085$8,473$7,901$6,451
8 years$9,044$8,349$7,705$7,108$6,555$5,177
9 years$7,958$7,270$6,636$6,054$5,520$4,213
10 years$7,089$6,408$5,786$5,219$4,703$3,466
11 years$6,379$5,704$5,094$4,542$4,045$2,875
12 years$5,788$5,120$4,520$3,984$3,505$2,401
13 years$5,288$4,627$4,039$3,517$3,057$2,017
14 years$4,859$4,206$3,629$3,122$2,679$1,701
15 years$4,489$3,842$3,276$2,784$2,359$1,440
16 years$4,165$3,525$2,970$2,493$2,085$1,223
17 years$3,879$3,246$2,703$2,240$1,849$1,041
18 years$3,625$3,000$2,467$2,019$1,644$888
19 years$3,399$2,780$2,259$1,824$1,465$759
20 years$3,195$2,584$2,073$1,652$1,309$650
21 years$3,011$2,406$1,907$1,499$1,171$557
22 years$2,843$2,246$1,757$1,363$1,050$478
23 years$2,691$2,101$1,623$1,242$942$410
24 years$2,552$1,968$1,501$1,132$847$352
25 years$2,423$1,847$1,390$1,034$762$303
26 years$2,305$1,736$1,289$946$687$261
27 years$2,196$1,634$1,197$865$619$225
28 years$2,095$1,540$1,113$793$559$193
29 years$2,001$1,452$1,036$727$504$167
30 years$1,913$1,372$965$667$456$144
31 years$1,832$1,297$899$613$412$124
32 years$1,755$1,227$839$563$373$107
33 years$1,683$1,162$783$518$337$92
34 years$1,616$1,101$732$477$305$79
35 years$1,553$1,045$684$439$277$69
36 years$1,493$991$640$404$251$59
37 years$1,437$942$599$372$227$51
38 years$1,383$895$561$343$206$44
39 years$1,333$851$526$316$187$38
40 years$1,285$810$493$292$169$33
41 years$1,240$771$462$269$154$28
42 years$1,197$734$433$248$139$24
43 years$1,156$699$407$229$127$21
44 years$1,117$667$382$212$115$18
45 years$1,080$636$358$196$104$16
46 years$1,044$606$337$181$95$14
47 years$1,011$579$316$167$86$12
48 years$978$552$297$154$78$10
49 years$947$528$279$143$71$9
50 years$918$504$263$132$64$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $940,000, adding $6,250 every year, while hoping to spend $28,191 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: 45/46/9 Blend
47$940,000$940,000$940,000$940,000
48$1,042,327$992,507$977,937$1,086,316
49$1,118,649$1,011,145$980,703$1,136,019
50$1,201,812$1,029,751$982,616$1,186,483
51$1,292,482$1,048,294$983,620$1,240,558
52$1,391,395$1,066,741$983,651$1,298,585
53$1,499,361$1,085,055$982,647$1,360,943
54$1,617,269$1,103,196$980,539$1,428,048
55$1,746,101$1,121,123$977,257$1,500,359
56$1,886,936$1,138,790$972,728$1,578,384
57$2,040,961$1,156,149$966,872$1,662,681
58$2,209,487$1,173,148$959,610$1,753,867
59$2,393,953$1,189,730$950,855$1,852,620
60$2,595,946$1,205,837$940,519$1,959,691
61$2,817,213$1,221,404$928,507$2,075,907
62$3,059,679$1,236,363$914,722$2,202,180
63$3,325,462$1,250,640$899,061$2,339,516
64$3,616,897$1,264,159$881,417$2,489,025
65$3,936,553$1,276,836$861,678$2,651,931
66$4,287,263$1,288,582$839,725$2,829,584
67$4,672,144$1,299,303$815,436$3,023,475
68$5,094,632$1,308,898$788,682$3,235,246
69$5,558,510$1,317,259$759,329$3,466,710
70$6,067,947$1,324,274$727,235$3,719,865
71$6,627,534$1,329,820$692,254$3,996,916
72$7,242,330$1,333,768$654,232$4,300,295
73$7,917,906$1,335,982$613,008$4,632,685
74$8,660,403$1,336,316$568,414$4,997,044
75$9,476,583$1,334,614$520,274$5,396,636
76$10,373,897$1,330,712$468,406$5,835,058
77$11,360,554$1,324,437$412,617$6,316,279
78$12,445,598$1,315,602$352,708$6,844,678
79$13,638,994$1,304,012$288,469$7,425,081
80$14,951,721$1,289,458$219,682$8,062,813
81$16,395,875$1,271,720$146,120$8,763,744
82$17,984,784$1,250,563$67,544$9,534,348
83$19,733,132$1,225,741$0$10,381,766
84$21,657,099$1,196,990$0$11,315,436
85$23,774,514$1,164,033$0$12,349,499
86$26,105,019$1,126,575$0$13,487,059
87$28,670,259$1,084,306$0$14,738,701
88$31,494,083$1,036,894$0$16,116,091
89$34,602,770$983,993$0$17,632,093
90$38,025,276$925,232$0$19,300,889
91$41,793,508$860,222$0$21,138,113
92$45,942,624$788,551$0$23,161,001
93$50,511,364$709,783$0$25,388,553
94$55,542,418$623,457$0$27,841,717
95$61,082,824$529,085$0$30,543,584
96$67,184,416$426,155$0$33,519,611
97$73,904,313$314,122$0$36,797,860
98$81,305,451$192,413$0$40,409,264
99$89,457,187$60,422$0$44,387,926
100$98,435,946$0$0$48,771,435