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%13.7%
1 years$80,102$79,388$78,692$78,013$77,349$76,162
2 years$39,654$38,916$38,200$37,506$36,833$35,640
3 years$26,174$25,432$24,718$24,030$23,368$22,206
4 years$19,435$18,695$17,988$17,313$16,666$15,544
5 years$15,392$14,657$13,960$13,298$12,670$11,591
6 years$12,698$11,969$11,282$10,634$10,025$8,991
7 years$10,775$10,051$9,375$8,743$8,153$7,164
8 years$9,333$8,616$7,951$7,334$6,764$5,819
9 years$8,212$7,502$6,848$6,247$5,696$4,796
10 years$7,315$6,612$5,970$5,385$4,853$3,997
11 years$6,583$5,887$5,256$4,687$4,174$3,360
12 years$5,972$5,283$4,665$4,111$3,617$2,845
13 years$5,456$4,775$4,168$3,629$3,154$2,422
14 years$5,015$4,340$3,745$3,222$2,765$2,073
15 years$4,632$3,965$3,381$2,873$2,434$1,780
16 years$4,297$3,638$3,065$2,573$2,152$1,534
17 years$4,003$3,350$2,789$2,311$1,908$1,326
18 years$3,741$3,096$2,546$2,083$1,696$1,148
19 years$3,507$2,869$2,331$1,882$1,512$997
20 years$3,297$2,666$2,139$1,705$1,350$867
21 years$3,107$2,483$1,968$1,547$1,209$755
22 years$2,934$2,318$1,814$1,407$1,083$658
23 years$2,777$2,168$1,674$1,281$972$574
24 years$2,633$2,031$1,549$1,168$874$502
25 years$2,501$1,906$1,434$1,067$786$439
26 years$2,379$1,792$1,330$976$708$384
27 years$2,266$1,686$1,235$893$639$336
28 years$2,162$1,589$1,148$818$576$295
29 years$2,065$1,499$1,069$750$520$258
30 years$1,975$1,415$995$689$470$226
31 years$1,890$1,338$928$632$425$199
32 years$1,811$1,266$866$581$385$174
33 years$1,737$1,199$808$535$348$153
34 years$1,668$1,136$755$492$315$134
35 years$1,602$1,078$706$453$285$118
36 years$1,541$1,023$661$417$259$104
37 years$1,482$972$618$384$234$91
38 years$1,427$923$579$354$212$80
39 years$1,375$878$542$326$193$70
40 years$1,326$835$508$301$175$62
41 years$1,279$795$477$278$159$54
42 years$1,235$757$447$256$144$48
43 years$1,193$722$420$237$131$42
44 years$1,152$688$394$219$119$37
45 years$1,114$656$370$202$108$32
46 years$1,078$626$347$186$98$28
47 years$1,043$597$326$172$89$25
48 years$1,009$570$307$159$81$22
49 years$978$544$288$147$73$19
50 years$947$520$271$136$66$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $970,000, adding $4,019 every year, while hoping to spend $40,347 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: 72/21/7 Blend
47$970,000$970,000$970,000$970,000
48$1,073,086$1,021,676$1,006,641$1,148,963
49$1,139,611$1,028,809$997,434$1,206,704
50$1,211,571$1,034,939$986,567$1,264,480
51$1,289,475$1,039,975$973,941$1,326,608
52$1,373,886$1,043,819$959,453$1,393,506
53$1,465,424$1,046,368$942,996$1,465,634
54$1,564,767$1,047,510$924,457$1,543,500
55$1,672,665$1,047,129$903,717$1,627,661
56$1,789,939$1,045,100$880,654$1,718,736
57$1,917,495$1,041,293$855,138$1,817,404
58$2,056,328$1,035,565$827,034$1,924,414
59$2,207,535$1,027,769$796,201$2,040,594
60$2,372,321$1,017,747$762,491$2,166,854
61$2,552,014$1,005,332$725,750$2,304,200
62$2,748,073$990,347$685,816$2,453,740
63$2,962,106$972,604$642,521$2,616,695
64$3,195,883$951,903$595,688$2,794,415
65$3,451,351$928,036$545,132$2,988,384
66$3,730,657$900,777$490,662$3,200,242
67$4,036,161$869,892$432,076$3,431,796
68$4,370,463$835,130$369,164$3,685,039
69$4,736,426$796,227$301,707$3,962,169
70$5,137,203$752,904$229,475$4,265,608
71$5,576,265$704,864$152,230$4,598,030
72$6,057,436$651,795$69,722$4,962,381
73$6,584,928$593,365$0$5,361,911
74$7,163,376$529,226$0$5,801,573
75$7,797,891$459,008$0$6,289,594
76$8,494,097$382,321$0$6,825,139
77$9,258,192$298,752$0$7,413,036
78$10,097,002$207,865$0$8,058,604
79$11,018,046$109,201$0$8,767,709
80$12,029,609$2,273$0$9,546,815
81$13,140,814$0$0$10,403,050
82$14,361,713$0$0$11,370,482
83$15,703,382$0$0$12,434,238
84$17,178,019$0$0$13,603,472
85$18,799,065$0$0$14,888,848
86$20,581,328$0$0$16,302,113
87$22,541,121$0$0$17,856,212
88$24,696,419$0$0$19,565,403
89$27,067,025$0$0$21,445,401
90$29,674,757$0$0$23,513,514
91$32,543,654$0$0$25,788,816
92$35,700,205$0$0$28,292,322
93$39,173,592$0$0$31,047,186
94$42,995,972$0$0$34,078,922
95$47,202,775$0$0$37,415,640
96$51,833,040$0$0$41,088,314
97$56,929,783$0$0$45,131,073
98$62,540,401$0$0$49,581,525
99$68,717,122$0$0$54,481,105
100$75,517,492$0$0$59,875,474