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%19.3%
1 years$79,276$78,570$77,881$77,208$76,552$73,689
2 years$39,245$38,515$37,806$37,119$36,453$33,602
3 years$25,904$25,170$24,463$23,783$23,127$20,377
4 years$19,234$18,502$17,803$17,134$16,495$13,867
5 years$15,234$14,506$13,816$13,161$12,539$10,040
6 years$12,567$11,845$11,165$10,525$9,922$7,553
7 years$10,664$9,948$9,278$8,653$8,069$5,830
8 years$9,236$8,527$7,869$7,259$6,694$4,583
9 years$8,127$7,424$6,777$6,183$5,637$3,651
10 years$7,240$6,544$5,909$5,330$4,803$2,939
11 years$6,515$5,826$5,202$4,638$4,131$2,383
12 years$5,911$5,229$4,617$4,068$3,580$1,945
13 years$5,400$4,725$4,125$3,592$3,122$1,595
14 years$4,963$4,295$3,706$3,188$2,736$1,313
15 years$4,584$3,924$3,346$2,844$2,409$1,085
16 years$4,253$3,600$3,034$2,546$2,129$898
17 years$3,961$3,316$2,760$2,288$1,888$745
18 years$3,702$3,064$2,520$2,062$1,679$619
19 years$3,471$2,839$2,307$1,863$1,496$516
20 years$3,263$2,639$2,117$1,687$1,337$430
21 years$3,075$2,458$1,947$1,531$1,196$358
22 years$2,904$2,294$1,795$1,392$1,072$299
23 years$2,748$2,146$1,657$1,268$962$250
24 years$2,606$2,010$1,533$1,156$865$209
25 years$2,475$1,887$1,420$1,056$778$175
26 years$2,354$1,773$1,317$966$701$146
27 years$2,243$1,669$1,223$884$632$122
28 years$2,140$1,572$1,136$810$570$102
29 years$2,044$1,483$1,058$743$515$86
30 years$1,954$1,401$985$682$465$72
31 years$1,871$1,324$918$626$421$60
32 years$1,792$1,253$857$575$381$50
33 years$1,719$1,187$800$529$344$42
34 years$1,650$1,125$748$487$312$35
35 years$1,586$1,067$699$448$282$30
36 years$1,525$1,013$654$413$256$25
37 years$1,467$962$612$380$232$21
38 years$1,413$914$573$350$210$17
39 years$1,361$869$537$323$191$15
40 years$1,312$827$503$298$173$12
41 years$1,266$787$472$275$157$10
42 years$1,222$750$443$254$142$9
43 years$1,180$714$415$234$129$7
44 years$1,141$681$390$216$117$6
45 years$1,103$649$366$200$106$5
46 years$1,067$619$344$185$97$4
47 years$1,032$591$323$170$88$4
48 years$999$564$304$158$80$3
49 years$967$539$285$146$72$2
50 years$937$515$268$135$66$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $960,000, adding $2,470 every year, while hoping to spend $35,683 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: 45/31/24 Blend
47$960,000$960,000$960,000$960,000
48$1,060,468$1,009,588$994,708$1,100,745
49$1,130,669$1,021,091$990,064$1,140,948
50$1,206,835$1,031,962$984,069$1,180,849
51$1,289,536$1,042,132$976,639$1,223,410
52$1,379,400$1,051,528$967,688$1,268,897
53$1,477,118$1,060,072$957,125$1,317,604
54$1,583,449$1,067,681$944,853$1,369,858
55$1,699,230$1,074,266$930,774$1,426,019
56$1,825,379$1,079,733$914,783$1,486,488
57$1,962,910$1,083,982$896,771$1,551,706
58$2,112,936$1,086,906$876,622$1,622,163
59$2,276,684$1,088,393$854,217$1,698,401
60$2,455,503$1,088,322$829,431$1,781,019
61$2,650,880$1,086,565$802,132$1,870,680
62$2,864,450$1,082,987$772,184$1,968,117
63$3,098,014$1,077,443$739,442$2,074,142
64$3,353,555$1,069,782$703,758$2,189,650
65$3,633,258$1,059,841$664,973$2,315,633
66$3,939,525$1,047,449$622,925$2,453,188
67$4,275,006$1,032,423$577,443$2,603,525
68$4,642,616$1,014,571$528,346$2,767,984
69$5,045,566$993,689$475,449$2,948,045
70$5,487,393$969,559$418,556$3,145,342
71$5,971,993$941,953$357,463$3,361,683
72$6,503,656$910,628$291,958$3,599,064
73$7,087,108$875,328$221,817$3,859,689
74$7,727,554$835,780$146,810$4,145,995
75$8,430,729$791,698$66,692$4,460,672
76$9,202,950$742,777$0$4,806,690
77$10,051,174$688,696$0$5,192,147
78$10,983,066$629,115$0$5,634,387
79$12,007,072$563,675$0$6,120,385
80$13,132,494$491,996$0$6,654,630
81$14,369,581$413,677$0$7,242,074
82$15,729,625$328,293$0$7,888,176
83$17,225,065$235,398$0$8,598,961
84$18,869,607$134,517$0$9,381,070
85$20,678,351$25,153$0$10,241,828
86$22,667,935$0$0$11,189,315
87$24,856,688$0$0$12,264,238
88$27,264,808$0$0$13,456,465
89$29,914,547$0$0$14,768,450
90$32,830,425$0$0$16,212,350
91$36,039,457$0$0$17,801,558
92$39,571,411$0$0$19,550,836
93$43,459,085$0$0$21,476,446
94$47,738,621$0$0$23,596,309
95$52,449,842$0$0$25,930,169
96$57,636,625$0$0$28,499,784
97$63,347,324$0$0$31,329,129
98$69,635,214$0$0$34,444,622
99$76,559,002$0$0$37,875,373
100$84,183,378$0$0$41,653,459