Can I retire at age 48 with 980,000?

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 $980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$80,927$80,207$79,503$78,817$78,147$75,766
2 years$40,063$39,317$38,594$37,893$37,213$34,835
3 years$26,443$25,694$24,973$24,278$23,609$21,309
4 years$19,635$18,888$18,174$17,491$16,838$14,633
5 years$15,551$14,808$14,104$13,435$12,800$10,695
6 years$12,829$12,092$11,398$10,744$10,128$8,126
7 years$10,886$10,155$9,472$8,833$8,237$6,337
8 years$9,429$8,705$8,033$7,410$6,833$5,035
9 years$8,296$7,579$6,919$6,312$5,755$4,056
10 years$7,391$6,680$6,032$5,441$4,903$3,301
11 years$6,650$5,947$5,310$4,735$4,217$2,709
12 years$6,034$5,338$4,713$4,153$3,654$2,238
13 years$5,513$4,824$4,211$3,667$3,187$1,858
14 years$5,066$4,385$3,783$3,255$2,793$1,549
15 years$4,680$4,006$3,416$2,903$2,460$1,295
16 years$4,342$3,675$3,097$2,599$2,174$1,087
17 years$4,044$3,385$2,818$2,335$1,927$914
18 years$3,779$3,128$2,572$2,105$1,714$770
19 years$3,543$2,899$2,355$1,902$1,528$649
20 years$3,331$2,693$2,161$1,722$1,364$549
21 years$3,139$2,509$1,988$1,563$1,221$464
22 years$2,964$2,342$1,832$1,421$1,094$393
23 years$2,806$2,190$1,692$1,294$982$333
24 years$2,660$2,052$1,565$1,181$883$282
25 years$2,527$1,926$1,449$1,078$795$240
26 years$2,403$1,810$1,344$986$716$203
27 years$2,290$1,703$1,248$902$645$173
28 years$2,184$1,605$1,160$827$582$147
29 years$2,086$1,514$1,080$758$526$125
30 years$1,995$1,430$1,006$696$475$106
31 years$1,910$1,352$938$639$430$90
32 years$1,830$1,279$875$587$389$77
33 years$1,755$1,211$817$540$352$65
34 years$1,685$1,148$763$497$318$55
35 years$1,619$1,089$713$457$288$47
36 years$1,556$1,034$667$421$261$40
37 years$1,498$982$625$388$237$34
38 years$1,442$933$585$358$215$29
39 years$1,390$887$548$330$195$25
40 years$1,340$844$514$304$177$21
41 years$1,293$803$482$281$160$18
42 years$1,248$765$452$259$145$15
43 years$1,205$729$424$239$132$13
44 years$1,164$695$398$221$120$11
45 years$1,126$663$374$204$109$9
46 years$1,089$632$351$188$99$8
47 years$1,054$603$330$174$90$7
48 years$1,020$576$310$161$81$6
49 years$988$550$291$149$74$5
50 years$957$525$274$137$67$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $980,000, adding $4,360 every year, while hoping to spend $52,224 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: 52/28/20 Blend
47$980,000$980,000$980,000$980,000
48$1,084,457$1,032,517$1,017,327$1,134,660
49$1,139,506$1,027,545$995,842$1,164,715
50$1,198,419$1,020,578$971,886$1,191,606
51$1,261,536$1,011,465$945,323$1,219,740
52$1,329,229$1,000,043$916,007$1,249,253
53$1,401,905$986,140$883,788$1,280,297
54$1,480,013$969,574$848,509$1,313,043
55$1,564,044$950,152$810,003$1,347,683
56$1,654,538$927,671$768,099$1,384,430
57$1,752,087$901,914$722,617$1,423,522
58$1,857,343$872,651$673,368$1,465,228
59$1,971,022$839,640$620,155$1,509,845
60$2,093,908$802,625$562,773$1,557,707
61$2,226,868$761,334$501,007$1,609,184
62$2,370,849$715,480$434,632$1,664,690
63$2,526,898$664,761$363,413$1,724,686
64$2,696,161$608,853$287,107$1,789,685
65$2,879,902$547,420$205,458$1,860,260
66$3,079,509$480,101$118,198$1,937,044
67$3,296,511$406,518$25,050$2,020,747
68$3,532,589$326,270$0$2,112,152
69$3,789,590$238,936$0$2,228,000
70$4,069,552$144,067$0$2,360,131
71$4,374,712$41,192$0$2,504,336
72$4,707,536$0$0$2,661,882
73$5,070,736$0$0$2,855,794
74$5,467,298$0$0$3,081,466
75$5,900,508$0$0$3,328,090
76$6,373,986$0$0$3,597,738
77$6,891,714$0$0$3,892,691
78$7,458,080$0$0$4,215,460
79$8,077,912$0$0$4,568,812
80$8,756,530$0$0$4,955,792
81$9,499,788$0$0$5,379,754
82$10,314,136$0$0$5,844,392
83$11,206,678$0$0$6,353,774
84$12,185,234$0$0$6,912,381
85$13,258,420$0$0$7,525,147
86$14,435,726$0$0$8,197,508
87$15,727,602$0$0$8,935,450
88$17,145,562$0$0$9,745,570
89$18,702,288$0$0$10,635,130
90$20,411,747$0$0$11,612,135
91$22,289,328$0$0$12,685,399
92$24,351,984$0$0$13,864,634
93$26,618,388$0$0$15,160,538
94$29,109,115$0$0$16,584,899
95$31,846,829$0$0$18,150,701
96$34,856,500$0$0$19,872,251
97$38,165,638$0$0$21,765,309
98$41,804,552$0$0$23,847,241
99$45,806,635$0$0$26,137,179
100$50,208,678$0$0$28,656,202