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%12.6%
1 years$80,102$79,388$78,692$78,013$77,349$76,510
2 years$39,654$38,916$38,200$37,506$36,833$35,988
3 years$26,174$25,432$24,718$24,030$23,368$22,543
4 years$19,435$18,695$17,988$17,313$16,666$15,868
5 years$15,392$14,657$13,960$13,298$12,670$11,901
6 years$12,698$11,969$11,282$10,634$10,025$9,286
7 years$10,775$10,051$9,375$8,743$8,153$7,445
8 years$9,333$8,616$7,951$7,334$6,764$6,086
9 years$8,212$7,502$6,848$6,247$5,696$5,048
10 years$7,315$6,612$5,970$5,385$4,853$4,235
11 years$6,583$5,887$5,256$4,687$4,174$3,585
12 years$5,972$5,283$4,665$4,111$3,617$3,057
13 years$5,456$4,775$4,168$3,629$3,154$2,622
14 years$5,015$4,340$3,745$3,222$2,765$2,259
15 years$4,632$3,965$3,381$2,873$2,434$1,955
16 years$4,297$3,638$3,065$2,573$2,152$1,698
17 years$4,003$3,350$2,789$2,311$1,908$1,479
18 years$3,741$3,096$2,546$2,083$1,696$1,291
19 years$3,507$2,869$2,331$1,882$1,512$1,130
20 years$3,297$2,666$2,139$1,705$1,350$990
21 years$3,107$2,483$1,968$1,547$1,209$870
22 years$2,934$2,318$1,814$1,407$1,083$765
23 years$2,777$2,168$1,674$1,281$972$673
24 years$2,633$2,031$1,549$1,168$874$593
25 years$2,501$1,906$1,434$1,067$786$523
26 years$2,379$1,792$1,330$976$708$462
27 years$2,266$1,686$1,235$893$639$408
28 years$2,162$1,589$1,148$818$576$361
29 years$2,065$1,499$1,069$750$520$319
30 years$1,975$1,415$995$689$470$282
31 years$1,890$1,338$928$632$425$250
32 years$1,811$1,266$866$581$385$221
33 years$1,737$1,199$808$535$348$196
34 years$1,668$1,136$755$492$315$174
35 years$1,602$1,078$706$453$285$154
36 years$1,541$1,023$661$417$259$136
37 years$1,482$972$618$384$234$121
38 years$1,427$923$579$354$212$107
39 years$1,375$878$542$326$193$95
40 years$1,326$835$508$301$175$84
41 years$1,279$795$477$278$159$75
42 years$1,235$757$447$256$144$66
43 years$1,193$722$420$237$131$59
44 years$1,152$688$394$219$119$52
45 years$1,114$656$370$202$108$46
46 years$1,078$626$347$186$98$41
47 years$1,043$597$326$172$89$37
48 years$1,009$570$307$159$81$32
49 years$978$544$288$147$73$29
50 years$947$520$271$136$66$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $970,000, adding $5,677 every year, while hoping to spend $45,612 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: 44/48/8 Blend
47$970,000$970,000$970,000$970,000
48$1,074,796$1,023,386$1,008,351$1,119,396
49$1,135,894$1,025,001$993,600$1,152,481
50$1,201,696$1,025,166$976,826$1,183,192
51$1,272,632$1,023,763$957,913$1,215,430
52$1,349,178$1,020,665$936,740$1,249,350
53$1,431,853$1,015,736$913,180$1,285,128
54$1,521,231$1,008,836$887,100$1,322,957
55$1,617,940$999,813$858,362$1,363,057
56$1,722,672$988,506$826,819$1,405,669
57$1,836,187$974,745$792,320$1,451,064
58$1,959,322$958,351$754,706$1,499,544
59$2,092,995$939,133$713,812$1,551,446
60$2,238,219$916,888$669,462$1,607,142
61$2,396,105$891,403$621,477$1,667,051
62$2,567,877$862,452$569,666$1,731,637
63$2,754,883$829,794$513,832$1,801,414
64$2,958,603$793,176$453,767$1,876,958
65$3,180,668$752,329$389,256$1,958,905
66$3,422,873$706,970$320,073$2,047,964
67$3,687,193$656,798$245,982$2,144,923
68$3,975,801$601,497$166,738$2,250,656
69$4,291,092$540,729$82,083$2,366,134
70$4,635,701$474,142$0$2,492,433
71$5,012,527$401,359$0$2,631,453
72$5,424,765$321,986$0$2,791,338
73$5,875,931$235,604$0$2,966,568
74$6,369,898$141,771$0$3,158,798
75$6,910,931$40,021$0$3,369,863
76$7,503,725$0$0$3,601,789
77$8,153,452$0$0$3,893,871
78$8,865,809$0$0$4,237,402
79$9,647,067$0$0$4,614,283
80$10,504,138$0$0$5,027,863
81$11,444,632$0$0$5,481,830
82$12,476,932$0$0$5,980,247
83$13,610,273$0$0$6,527,590
84$14,854,826$0$0$7,128,788
85$16,221,797$0$0$7,789,273
86$17,723,531$0$0$8,515,029
87$19,373,625$0$0$9,312,646
88$21,187,061$0$0$10,189,385
89$23,180,343$0$0$11,153,249
90$25,371,654$0$0$12,213,049
91$27,781,027$0$0$13,378,497
92$30,430,532$0$0$14,660,292
93$33,344,486$0$0$16,070,222
94$36,549,679$0$0$17,621,273
95$40,075,629$0$0$19,327,757
96$43,954,860$0$0$21,205,439
97$48,223,205$0$0$23,271,691
98$52,920,147$0$0$25,545,655
99$58,089,190$0$0$28,048,421
100$63,778,268$0$0$30,803,228