Can I retire at age 48 with 950,000?

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 $950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$78,450$77,751$77,070$76,404$75,754$73,654
2 years$38,837$38,113$37,412$36,733$36,073$33,973
3 years$25,634$24,908$24,208$23,535$22,887$20,852
4 years$19,034$18,310$17,617$16,956$16,323$14,370
5 years$15,075$14,355$13,672$13,024$12,408$10,542
6 years$12,436$11,722$11,049$10,415$9,818$8,040
7 years$10,552$9,844$9,182$8,563$7,985$6,296
8 years$9,140$8,438$7,787$7,183$6,624$5,022
9 years$8,042$7,347$6,707$6,118$5,579$4,063
10 years$7,165$6,476$5,847$5,274$4,753$3,322
11 years$6,447$5,765$5,148$4,590$4,088$2,738
12 years$5,849$5,175$4,568$4,026$3,543$2,272
13 years$5,344$4,676$4,082$3,554$3,089$1,895
14 years$4,911$4,251$3,667$3,155$2,708$1,588
15 years$4,536$3,883$3,311$2,814$2,384$1,335
16 years$4,209$3,563$3,002$2,520$2,107$1,125
17 years$3,920$3,281$2,732$2,264$1,868$951
18 years$3,664$3,032$2,494$2,040$1,661$805
19 years$3,435$2,810$2,283$1,843$1,481$683
20 years$3,229$2,611$2,095$1,670$1,323$580
21 years$3,043$2,432$1,927$1,515$1,184$493
22 years$2,874$2,270$1,776$1,378$1,061$420
23 years$2,720$2,123$1,640$1,255$952$358
24 years$2,579$1,989$1,517$1,144$856$305
25 years$2,449$1,867$1,405$1,045$770$260
26 years$2,330$1,755$1,303$956$694$222
27 years$2,220$1,651$1,210$875$626$190
28 years$2,117$1,556$1,125$801$564$162
29 years$2,022$1,468$1,047$735$510$139
30 years$1,934$1,386$975$674$461$118
31 years$1,851$1,311$909$619$416$101
32 years$1,774$1,240$848$569$377$87
33 years$1,701$1,174$792$523$341$74
34 years$1,633$1,113$740$482$309$63
35 years$1,569$1,056$692$443$280$54
36 years$1,509$1,002$647$408$253$46
37 years$1,452$952$606$376$230$40
38 years$1,398$904$567$347$208$34
39 years$1,347$860$531$320$189$29
40 years$1,299$818$498$295$171$25
41 years$1,253$779$467$272$155$21
42 years$1,209$742$438$251$141$18
43 years$1,168$707$411$232$128$16
44 years$1,129$674$386$214$116$13
45 years$1,091$642$362$198$105$11
46 years$1,055$613$340$183$96$10
47 years$1,021$585$320$169$87$8
48 years$989$558$300$156$79$7
49 years$957$533$282$144$72$6
50 years$928$509$265$133$65$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $950,000, adding $5,381 every year, while hoping to spend $27,740 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: 54/26/20 Blend
47$950,000$950,000$950,000$950,000
48$1,052,451$1,002,101$987,376$1,103,282
49$1,130,285$1,021,688$990,937$1,158,292
50$1,215,130$1,041,306$993,689$1,214,769
51$1,307,669$1,060,926$995,574$1,275,650
52$1,408,658$1,080,519$996,532$1,341,362
53$1,518,928$1,100,050$996,503$1,412,378
54$1,639,392$1,119,487$995,419$1,489,220
55$1,771,059$1,138,790$993,214$1,572,462
56$1,915,035$1,157,919$989,815$1,662,737
57$2,072,542$1,176,831$985,147$1,760,746
58$2,244,923$1,195,477$979,132$1,867,257
59$2,433,657$1,213,808$971,685$1,983,121
60$2,640,375$1,231,769$962,722$2,109,276
61$2,866,871$1,249,303$952,150$2,246,753
62$3,115,120$1,266,347$939,875$2,396,693
63$3,387,299$1,282,835$925,798$2,560,352
64$3,685,805$1,298,696$909,813$2,739,116
65$4,013,278$1,313,853$891,813$2,934,512
66$4,372,627$1,328,226$871,683$3,148,226
67$4,767,053$1,341,728$849,303$3,382,116
68$5,200,087$1,354,266$824,549$3,638,229
69$5,675,614$1,365,743$797,289$3,918,827
70$6,197,916$1,376,054$767,388$4,226,398
71$6,771,709$1,385,087$734,701$4,563,691
72$7,402,190$1,392,723$699,081$4,933,735
73$8,095,083$1,398,835$660,369$5,339,868
74$8,856,693$1,403,290$618,404$5,785,774
75$9,693,969$1,405,945$573,013$6,275,513
76$10,614,565$1,406,647$524,020$6,813,561
77$11,626,914$1,405,236$471,238$7,404,854
78$12,740,307$1,401,540$414,472$8,054,836
79$13,964,980$1,395,378$353,519$8,769,505
80$15,312,212$1,386,556$288,167$9,555,477
81$16,794,431$1,374,870$218,193$10,420,046
82$18,425,328$1,360,103$143,367$11,371,253
83$20,219,989$1,342,026$63,448$12,417,963
84$22,195,036$1,320,394$0$13,569,949
85$24,368,786$1,294,949$0$14,842,646
86$26,761,419$1,265,418$0$16,258,024
87$29,395,171$1,231,511$0$17,815,683
88$32,294,544$1,192,921$0$19,530,117
89$35,486,537$1,149,324$0$21,417,306
90$39,000,899$1,100,376$0$23,494,858
91$42,870,410$1,045,713$0$25,782,179
92$47,131,191$984,952$0$28,300,661
93$51,823,044$917,686$0$31,073,876
94$56,989,826$843,484$0$34,127,806
95$62,679,866$761,893$0$37,491,086
96$68,946,418$672,432$0$41,195,274
97$75,848,165$574,593$0$45,275,153
98$83,449,770$467,840$0$49,769,056
99$91,822,489$351,607$0$54,719,230
100$101,044,842$225,295$0$60,172,238