Can I retire at age 48 with 960,000?

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 $960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$79,276$78,570$77,881$77,208$76,552$75,037
2 years$39,245$38,515$37,806$37,119$36,453$34,933
3 years$25,904$25,170$24,463$23,783$23,127$21,650
4 years$19,234$18,502$17,803$17,134$16,495$15,071
5 years$15,234$14,506$13,816$13,161$12,539$11,173
6 years$12,567$11,845$11,165$10,525$9,922$8,615
7 years$10,664$9,948$9,278$8,653$8,069$6,822
8 years$9,236$8,527$7,869$7,259$6,694$5,507
9 years$8,127$7,424$6,777$6,183$5,637$4,509
10 years$7,240$6,544$5,909$5,330$4,803$3,732
11 years$6,515$5,826$5,202$4,638$4,131$3,116
12 years$5,911$5,229$4,617$4,068$3,580$2,619
13 years$5,400$4,725$4,125$3,592$3,122$2,214
14 years$4,963$4,295$3,706$3,188$2,736$1,881
15 years$4,584$3,924$3,346$2,844$2,409$1,603
16 years$4,253$3,600$3,034$2,546$2,129$1,371
17 years$3,961$3,316$2,760$2,288$1,888$1,175
18 years$3,702$3,064$2,520$2,062$1,679$1,010
19 years$3,471$2,839$2,307$1,863$1,496$870
20 years$3,263$2,639$2,117$1,687$1,337$750
21 years$3,075$2,458$1,947$1,531$1,196$648
22 years$2,904$2,294$1,795$1,392$1,072$560
23 years$2,748$2,146$1,657$1,268$962$485
24 years$2,606$2,010$1,533$1,156$865$420
25 years$2,475$1,887$1,420$1,056$778$364
26 years$2,354$1,773$1,317$966$701$316
27 years$2,243$1,669$1,223$884$632$274
28 years$2,140$1,572$1,136$810$570$238
29 years$2,044$1,483$1,058$743$515$207
30 years$1,954$1,401$985$682$465$180
31 years$1,871$1,324$918$626$421$156
32 years$1,792$1,253$857$575$381$136
33 years$1,719$1,187$800$529$344$118
34 years$1,650$1,125$748$487$312$103
35 years$1,586$1,067$699$448$282$89
36 years$1,525$1,013$654$413$256$78
37 years$1,467$962$612$380$232$68
38 years$1,413$914$573$350$210$59
39 years$1,361$869$537$323$191$51
40 years$1,312$827$503$298$173$45
41 years$1,266$787$472$275$157$39
42 years$1,222$750$443$254$142$34
43 years$1,180$714$415$234$129$29
44 years$1,141$681$390$216$117$26
45 years$1,103$649$366$200$106$22
46 years$1,067$619$344$185$97$19
47 years$1,032$591$323$170$88$17
48 years$999$564$304$158$80$15
49 years$967$539$285$146$72$13
50 years$937$515$268$135$66$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $960,000, adding $6,296 every year, while hoping to spend $39,124 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: 65/9/26 Blend
47$960,000$960,000$960,000$960,000
48$1,064,414$1,013,534$998,654$1,125,960
49$1,131,357$1,021,570$990,482$1,176,296
50$1,203,816$1,028,688$980,724$1,226,353
51$1,282,314$1,034,802$969,287$1,280,192
52$1,367,424$1,039,821$956,071$1,338,189
53$1,459,775$1,043,646$940,974$1,400,759
54$1,560,062$1,046,175$923,886$1,468,360
55$1,669,047$1,047,296$904,695$1,541,496
56$1,787,569$1,046,892$883,281$1,620,727
57$1,916,550$1,044,840$859,521$1,706,667
58$2,057,008$1,041,006$833,284$1,799,998
59$2,210,059$1,035,251$804,435$1,901,471
60$2,376,932$1,027,427$772,831$2,011,914
61$2,558,983$1,017,374$738,325$2,132,242
62$2,757,700$1,004,926$700,759$2,263,464
63$2,974,724$989,906$659,973$2,406,697
64$3,211,860$972,126$615,797$2,563,169
65$3,471,096$951,386$568,052$2,734,238
66$3,754,620$927,476$516,554$2,921,402
67$4,064,842$900,174$461,110$3,126,314
68$4,404,415$869,241$401,516$3,350,799
69$4,776,261$834,430$337,562$3,596,868
70$5,183,597$795,474$269,028$3,866,743
71$5,629,966$752,094$195,683$4,162,873
72$6,119,271$703,995$117,286$4,487,960
73$6,655,808$650,863$33,587$4,844,988
74$7,244,312$592,366$0$5,237,244
75$7,889,996$528,157$0$5,683,819
76$8,598,604$457,864$0$6,184,202
77$9,376,459$381,097$0$6,733,559
78$10,230,531$297,444$0$7,336,842
79$11,168,495$206,469$0$7,999,506
80$12,198,807$107,711$0$8,727,565
81$13,330,781$684$0$9,527,645
82$14,574,678$0$0$10,407,045
83$15,941,804$0$0$11,385,215
84$17,444,613$0$0$12,460,609
85$19,096,826$0$0$13,642,988
86$20,913,560$0$0$14,943,178
87$22,911,470$0$0$16,373,109
88$25,108,905$0$0$17,945,923
89$27,526,083$0$0$19,676,101
90$30,185,280$0$0$21,579,597
91$33,111,039$0$0$23,673,991
92$36,330,400$0$0$25,978,651
93$39,873,161$0$0$28,514,919
94$43,772,151$0$0$31,306,309
95$48,063,543$0$0$34,378,732
96$52,787,197$0$0$37,760,735
97$57,987,029$0$0$41,483,778
98$63,711,435$0$0$45,582,521
99$70,013,736$0$0$50,095,159
100$76,952,689$0$0$55,063,777