Can I retire at age 48 with 980,000?

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 $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%15.8%
1 years$80,927$80,207$79,503$78,817$78,147$76,288
2 years$40,063$39,317$38,594$37,893$37,213$35,351
3 years$26,443$25,694$24,973$24,278$23,609$21,803
4 years$19,635$18,888$18,174$17,491$16,838$15,101
5 years$15,551$14,808$14,104$13,435$12,800$11,137
6 years$12,829$12,092$11,398$10,744$10,128$8,541
7 years$10,886$10,155$9,472$8,833$8,237$6,725
8 years$9,429$8,705$8,033$7,410$6,833$5,397
9 years$8,296$7,579$6,919$6,312$5,755$4,392
10 years$7,391$6,680$6,032$5,441$4,903$3,613
11 years$6,650$5,947$5,310$4,735$4,217$2,998
12 years$6,034$5,338$4,713$4,153$3,654$2,504
13 years$5,513$4,824$4,211$3,667$3,187$2,102
14 years$5,066$4,385$3,783$3,255$2,793$1,773
15 years$4,680$4,006$3,416$2,903$2,460$1,501
16 years$4,342$3,675$3,097$2,599$2,174$1,275
17 years$4,044$3,385$2,818$2,335$1,927$1,085
18 years$3,779$3,128$2,572$2,105$1,714$926
19 years$3,543$2,899$2,355$1,902$1,528$791
20 years$3,331$2,693$2,161$1,722$1,364$677
21 years$3,139$2,509$1,988$1,563$1,221$580
22 years$2,964$2,342$1,832$1,421$1,094$498
23 years$2,806$2,190$1,692$1,294$982$428
24 years$2,660$2,052$1,565$1,181$883$367
25 years$2,527$1,926$1,449$1,078$795$316
26 years$2,403$1,810$1,344$986$716$272
27 years$2,290$1,703$1,248$902$645$234
28 years$2,184$1,605$1,160$827$582$202
29 years$2,086$1,514$1,080$758$526$174
30 years$1,995$1,430$1,006$696$475$150
31 years$1,910$1,352$938$639$430$129
32 years$1,830$1,279$875$587$389$111
33 years$1,755$1,211$817$540$352$96
34 years$1,685$1,148$763$497$318$83
35 years$1,619$1,089$713$457$288$71
36 years$1,556$1,034$667$421$261$62
37 years$1,498$982$625$388$237$53
38 years$1,442$933$585$358$215$46
39 years$1,390$887$548$330$195$40
40 years$1,340$844$514$304$177$34
41 years$1,293$803$482$281$160$30
42 years$1,248$765$452$259$145$25
43 years$1,205$729$424$239$132$22
44 years$1,164$695$398$221$120$19
45 years$1,126$663$374$204$109$16
46 years$1,089$632$351$188$99$14
47 years$1,054$603$330$174$90$12
48 years$1,020$576$310$161$81$11
49 years$988$550$291$149$74$9
50 years$957$525$274$137$67$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $980,000, adding $2,791 every year, while hoping to spend $32,936 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: 36/44/20 Blend
47$980,000$980,000$980,000$980,000
48$1,082,839$1,030,899$1,015,709$1,115,166
49$1,158,245$1,046,369$1,014,692$1,154,475
50$1,240,238$1,061,494$1,012,536$1,193,611
51$1,329,456$1,076,221$1,009,170$1,235,181
52$1,426,600$1,090,495$1,004,516$1,279,422
53$1,532,441$1,104,257$998,496$1,326,598
54$1,647,828$1,117,444$991,023$1,376,998
55$1,773,696$1,129,988$982,012$1,430,942
56$1,911,073$1,141,817$971,369$1,488,789
57$2,061,090$1,152,853$958,997$1,550,930
58$2,224,994$1,163,016$944,797$1,617,801
59$2,404,157$1,172,218$928,661$1,689,886
60$2,600,090$1,180,365$910,480$1,767,716
61$2,814,455$1,187,359$890,137$1,851,884
62$3,049,084$1,193,094$867,511$1,943,040
63$3,305,993$1,197,458$842,475$2,041,907
64$3,587,403$1,200,332$814,896$2,149,285
65$3,895,758$1,201,589$784,636$2,266,055
66$4,233,753$1,201,094$751,549$2,393,194
67$4,604,353$1,198,705$715,483$2,531,783
68$5,010,825$1,194,269$676,279$2,683,013
69$5,456,767$1,187,626$633,773$2,848,204
70$5,946,143$1,178,606$587,790$3,028,815
71$6,483,317$1,167,026$538,149$3,226,454
72$7,073,100$1,152,694$484,661$3,442,904
73$7,720,788$1,135,408$427,129$3,680,131
74$8,432,216$1,114,950$365,345$3,940,306
75$9,213,813$1,091,094$299,095$4,225,832
76$10,072,660$1,063,596$228,153$4,539,359
77$11,016,560$1,032,200$152,285$4,883,816
78$12,054,106$996,636$71,244$5,262,436
79$13,194,769$956,615$0$5,678,791
80$14,448,981$911,834$0$6,140,077
81$15,828,235$861,972$0$6,663,831
82$17,345,195$806,689$0$7,239,700
83$19,013,813$745,624$0$7,873,054
84$20,849,461$678,399$0$8,569,815
85$22,869,077$604,612$0$9,336,517
86$25,091,323$523,837$0$10,180,366
87$27,536,759$435,627$0$11,109,313
88$30,228,044$339,508$0$12,132,126
89$33,190,139$234,978$0$13,258,477
90$36,450,551$121,510$0$14,499,034
91$40,039,588$0$0$15,865,563
92$43,990,646$0$0$17,371,745
93$48,340,523$0$0$19,094,901
94$53,129,766$0$0$20,992,283
95$58,403,056$0$0$23,081,614
96$64,209,624$0$0$25,382,422
97$70,603,719$0$0$27,916,226
98$77,645,121$0$0$30,706,740
99$85,399,700$0$0$33,780,093
100$93,940,042$0$0$37,165,078