Can I retire at age 48 with 970,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%15.4%
1 years$80,102$79,388$78,692$78,013$77,349$75,633
2 years$39,654$38,916$38,200$37,506$36,833$35,113
3 years$26,174$25,432$24,718$24,030$23,368$21,698
4 years$19,435$18,695$17,988$17,313$16,666$15,059
5 years$15,392$14,657$13,960$13,298$12,670$11,129
6 years$12,698$11,969$11,282$10,634$10,025$8,553
7 years$10,775$10,051$9,375$8,743$8,153$6,750
8 years$9,333$8,616$7,951$7,334$6,764$5,430
9 years$8,212$7,502$6,848$6,247$5,696$4,429
10 years$7,315$6,612$5,970$5,385$4,853$3,653
11 years$6,583$5,887$5,256$4,687$4,174$3,038
12 years$5,972$5,283$4,665$4,111$3,617$2,544
13 years$5,456$4,775$4,168$3,629$3,154$2,142
14 years$5,015$4,340$3,745$3,222$2,765$1,812
15 years$4,632$3,965$3,381$2,873$2,434$1,538
16 years$4,297$3,638$3,065$2,573$2,152$1,310
17 years$4,003$3,350$2,789$2,311$1,908$1,118
18 years$3,741$3,096$2,546$2,083$1,696$957
19 years$3,507$2,869$2,331$1,882$1,512$820
20 years$3,297$2,666$2,139$1,705$1,350$704
21 years$3,107$2,483$1,968$1,547$1,209$605
22 years$2,934$2,318$1,814$1,407$1,083$521
23 years$2,777$2,168$1,674$1,281$972$449
24 years$2,633$2,031$1,549$1,168$874$387
25 years$2,501$1,906$1,434$1,067$786$334
26 years$2,379$1,792$1,330$976$708$288
27 years$2,266$1,686$1,235$893$639$249
28 years$2,162$1,589$1,148$818$576$215
29 years$2,065$1,499$1,069$750$520$186
30 years$1,975$1,415$995$689$470$161
31 years$1,890$1,338$928$632$425$139
32 years$1,811$1,266$866$581$385$120
33 years$1,737$1,199$808$535$348$104
34 years$1,668$1,136$755$492$315$90
35 years$1,602$1,078$706$453$285$78
36 years$1,541$1,023$661$417$259$68
37 years$1,482$972$618$384$234$58
38 years$1,427$923$579$354$212$51
39 years$1,375$878$542$326$193$44
40 years$1,326$835$508$301$175$38
41 years$1,279$795$477$278$159$33
42 years$1,235$757$447$256$144$28
43 years$1,193$722$420$237$131$25
44 years$1,152$688$394$219$119$21
45 years$1,114$656$370$202$108$19
46 years$1,078$626$347$186$98$16
47 years$1,043$597$326$172$89$14
48 years$1,009$570$307$159$81$12
49 years$978$544$288$147$73$10
50 years$947$520$271$136$66$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $970,000, adding $5,869 every year, while hoping to spend $35,982 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: 72/11/17 Blend
47$970,000$970,000$970,000$970,000
48$1,074,994$1,023,584$1,008,549$1,147,740
49$1,146,359$1,035,455$1,004,051$1,208,691
50$1,223,797$1,046,702$998,196$1,270,504
51$1,307,890$1,057,256$990,901$1,337,268
52$1,399,277$1,067,043$982,078$1,409,466
53$1,498,662$1,075,987$971,637$1,487,631
54$1,606,819$1,084,004$959,480$1,572,352
55$1,724,600$1,091,006$945,508$1,664,276
56$1,852,941$1,096,898$929,616$1,764,118
57$1,992,876$1,101,580$911,692$1,872,666
58$2,145,538$1,104,946$891,622$1,990,787
59$2,312,177$1,106,883$869,286$2,119,439
60$2,494,169$1,107,271$844,557$2,259,678
61$2,693,028$1,105,981$817,304$2,412,667
62$2,910,421$1,102,878$787,388$2,579,689
63$3,148,184$1,097,818$754,664$2,762,158
64$3,408,336$1,090,649$718,983$2,961,635
65$3,693,104$1,081,208$680,186$3,179,837
66$4,004,937$1,069,323$638,109$3,418,661
67$4,346,533$1,054,814$592,579$3,680,197
68$4,720,865$1,037,485$543,416$3,966,748
69$5,131,205$1,017,134$490,432$4,280,854
70$5,581,158$993,542$433,431$4,625,317
71$6,074,692$966,482$372,207$5,003,223
72$6,616,181$935,710$306,546$5,417,977
73$7,210,441$900,969$236,225$5,873,330
74$7,862,776$861,987$161,009$6,373,421
75$8,579,031$818,477$80,655$6,922,809
76$9,365,643$770,133$0$7,526,523
77$10,229,704$716,634$0$8,191,031
78$11,179,025$657,641$0$8,937,191
79$12,222,212$592,791$0$9,757,144
80$13,368,746$521,707$0$10,658,369
81$14,629,073$443,985$0$11,649,106
82$16,014,699$359,201$0$12,738,438
83$17,538,303$266,907$0$13,936,371
84$19,213,854$166,629$0$15,253,933
85$21,056,739$57,867$0$16,703,276
86$23,083,916$0$0$18,297,794
87$25,314,066$0$0$20,059,494
88$27,767,772$0$0$22,005,553
89$30,467,714$0$0$24,146,960
90$33,438,880$0$0$26,503,541
91$36,708,804$0$0$29,097,141
92$40,307,823$0$0$31,951,831
93$44,269,367$0$0$35,094,132
94$48,630,267$0$0$38,553,270
95$53,431,110$0$0$42,361,445
96$58,716,617$0$0$46,554,140
97$64,536,064$0$0$51,170,453
98$70,943,752$0$0$56,253,464
99$77,999,511$0$0$61,850,647
100$85,769,272$0$0$68,014,312