Can I retire at age 48 with 970,000?

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 $970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$80,102$79,388$78,692$78,013$77,349$75,054
2 years$39,654$38,916$38,200$37,506$36,833$34,539
3 years$26,174$25,432$24,718$24,030$23,368$21,148
4 years$19,435$18,695$17,988$17,313$16,666$14,537
5 years$15,392$14,657$13,960$13,298$12,670$10,637
6 years$12,698$11,969$11,282$10,634$10,025$8,090
7 years$10,775$10,051$9,375$8,743$8,153$6,317
8 years$9,333$8,616$7,951$7,334$6,764$5,025
9 years$8,212$7,502$6,848$6,247$5,696$4,052
10 years$7,315$6,612$5,970$5,385$4,853$3,303
11 years$6,583$5,887$5,256$4,687$4,174$2,714
12 years$5,972$5,283$4,665$4,111$3,617$2,244
13 years$5,456$4,775$4,168$3,629$3,154$1,866
14 years$5,015$4,340$3,745$3,222$2,765$1,558
15 years$4,632$3,965$3,381$2,873$2,434$1,305
16 years$4,297$3,638$3,065$2,573$2,152$1,096
17 years$4,003$3,350$2,789$2,311$1,908$923
18 years$3,741$3,096$2,546$2,083$1,696$779
19 years$3,507$2,869$2,331$1,882$1,512$658
20 years$3,297$2,666$2,139$1,705$1,350$557
21 years$3,107$2,483$1,968$1,547$1,209$472
22 years$2,934$2,318$1,814$1,407$1,083$400
23 years$2,777$2,168$1,674$1,281$972$339
24 years$2,633$2,031$1,549$1,168$874$288
25 years$2,501$1,906$1,434$1,067$786$245
26 years$2,379$1,792$1,330$976$708$208
27 years$2,266$1,686$1,235$893$639$177
28 years$2,162$1,589$1,148$818$576$151
29 years$2,065$1,499$1,069$750$520$128
30 years$1,975$1,415$995$689$470$109
31 years$1,890$1,338$928$632$425$93
32 years$1,811$1,266$866$581$385$79
33 years$1,737$1,199$808$535$348$67
34 years$1,668$1,136$755$492$315$57
35 years$1,602$1,078$706$453$285$49
36 years$1,541$1,023$661$417$259$42
37 years$1,482$972$618$384$234$36
38 years$1,427$923$579$354$212$30
39 years$1,375$878$542$326$193$26
40 years$1,326$835$508$301$175$22
41 years$1,279$795$477$278$159$19
42 years$1,235$757$447$256$144$16
43 years$1,193$722$420$237$131$14
44 years$1,152$688$394$219$119$12
45 years$1,114$656$370$202$108$10
46 years$1,078$626$347$186$98$8
47 years$1,043$597$326$172$89$7
48 years$1,009$570$307$159$81$6
49 years$978$544$288$147$73$5
50 years$947$520$271$136$66$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $970,000, adding $4,547 every year, while hoping to spend $24,301 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: 65/8/27 Blend
47$970,000$970,000$970,000$970,000
48$1,073,630$1,022,220$1,007,185$1,135,504
49$1,157,284$1,046,453$1,015,070$1,202,081
50$1,248,657$1,071,059$1,022,404$1,271,707
51$1,348,509$1,096,030$1,029,144$1,347,274
52$1,457,680$1,121,358$1,035,243$1,429,369
53$1,577,092$1,147,033$1,040,653$1,518,639
54$1,707,762$1,173,045$1,045,321$1,615,797
55$1,850,810$1,199,380$1,049,195$1,721,628
56$2,007,467$1,226,024$1,052,218$1,836,999
57$2,179,092$1,252,962$1,054,330$1,962,864
58$2,367,178$1,280,176$1,055,469$2,100,275
59$2,573,372$1,307,647$1,055,570$2,250,390
60$2,799,488$1,335,353$1,054,563$2,414,489
61$3,047,522$1,363,272$1,052,377$2,593,979
62$3,319,673$1,391,376$1,048,935$2,790,414
63$3,618,365$1,419,639$1,044,160$3,005,503
64$3,946,266$1,448,029$1,037,968$3,241,132
65$4,306,317$1,476,514$1,030,271$3,499,382
66$4,701,754$1,505,057$1,020,978$3,782,542
67$5,136,147$1,533,618$1,009,994$4,093,139
68$5,613,424$1,562,155$997,219$4,433,955
69$6,137,915$1,590,623$982,548$4,808,060
70$6,714,390$1,618,971$965,871$5,218,834
71$7,348,103$1,647,146$947,073$5,670,005
72$8,044,843$1,675,090$926,034$6,165,683
73$8,810,989$1,702,741$902,628$6,710,394
74$9,653,567$1,730,032$876,723$7,309,130
75$10,580,320$1,756,893$848,182$7,967,393
76$11,599,777$1,783,245$816,861$8,691,246
77$12,721,338$1,809,007$782,608$9,487,373
78$13,955,356$1,834,090$745,268$10,363,140
79$15,313,242$1,858,401$704,674$11,326,665
80$16,807,568$1,881,837$660,656$12,386,897
81$18,452,184$1,904,292$613,032$13,553,700
82$20,262,354$1,925,649$561,616$14,837,944
83$22,254,895$1,945,787$506,211$16,251,610
84$24,448,337$1,964,573$446,612$17,807,904
85$26,863,099$1,981,869$382,604$19,521,380
86$29,521,679$1,997,524$313,966$21,408,078
87$32,448,868$2,011,381$240,461$23,485,679
88$35,671,984$2,023,269$161,848$25,773,667
89$39,221,127$2,033,011$77,871$28,293,520
90$43,129,467$2,040,413$0$31,068,904
91$47,433,553$2,045,274$0$34,129,291
92$52,173,660$2,047,376$0$37,524,207
93$57,394,167$2,046,491$0$41,262,964
94$63,143,977$2,042,375$0$45,380,571
95$69,476,980$2,034,768$0$49,915,605
96$76,452,557$2,023,397$0$54,910,579
97$84,136,143$2,007,969$0$60,412,339
98$92,599,847$1,988,177$0$66,472,508
99$101,923,126$1,963,692$0$73,147,974
100$112,193,539$1,934,167$0$80,501,426