Can I retire at age 48 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$87,534$86,754$85,993$85,251$84,526$83,888
2 years$43,334$42,527$41,744$40,986$40,250$39,607
3 years$28,602$27,792$27,011$26,260$25,537$24,908
4 years$21,238$20,430$19,657$18,919$18,213$17,604
5 years$16,820$16,017$15,255$14,532$13,845$13,257
6 years$13,876$13,079$12,328$11,621$10,955$10,389
7 years$11,774$10,984$10,245$9,554$8,909$8,366
8 years$10,199$9,415$8,688$8,015$7,391$6,870
9 years$8,974$8,198$7,483$6,827$6,225$5,726
10 years$7,994$7,226$6,524$5,885$5,304$4,827
11 years$7,193$6,433$5,744$5,122$4,561$4,106
12 years$6,526$5,774$5,097$4,492$3,953$3,519
13 years$5,963$5,218$4,554$3,966$3,447$3,033
14 years$5,480$4,743$4,092$3,521$3,021$2,628
15 years$5,062$4,333$3,695$3,140$2,660$2,287
16 years$4,696$3,975$3,350$2,811$2,351$1,997
17 years$4,374$3,661$3,048$2,526$2,085$1,749
18 years$4,088$3,383$2,782$2,276$1,854$1,536
19 years$3,832$3,135$2,547$2,057$1,652$1,351
20 years$3,603$2,913$2,338$1,863$1,476$1,192
21 years$3,395$2,714$2,150$1,691$1,321$1,052
22 years$3,206$2,533$1,982$1,537$1,184$931
23 years$3,035$2,369$1,830$1,400$1,063$824
24 years$2,877$2,220$1,692$1,277$955$731
25 years$2,733$2,083$1,567$1,166$859$649
26 years$2,600$1,958$1,454$1,066$774$576
27 years$2,477$1,843$1,350$976$698$512
28 years$2,363$1,736$1,255$894$630$456
29 years$2,256$1,638$1,168$820$569$406
30 years$2,158$1,547$1,088$753$514$361
31 years$2,065$1,462$1,014$691$465$322
32 years$1,979$1,384$946$635$420$287
33 years$1,898$1,310$883$584$380$256
34 years$1,822$1,242$825$537$344$228
35 years$1,751$1,178$772$495$312$204
36 years$1,684$1,118$722$456$283$182
37 years$1,620$1,062$676$420$256$162
38 years$1,560$1,009$633$387$232$145
39 years$1,503$960$593$357$211$129
40 years$1,449$913$556$329$191$116
41 years$1,398$869$521$304$173$103
42 years$1,350$828$489$280$157$92
43 years$1,303$789$459$259$143$82
44 years$1,259$752$430$239$130$74
45 years$1,218$717$404$221$118$66
46 years$1,178$684$380$204$107$59
47 years$1,140$653$357$188$97$53
48 years$1,103$623$335$174$88$47
49 years$1,068$595$315$161$80$42
50 years$1,035$568$296$149$73$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $1,060,000, adding $5,752 every year, while hoping to spend $43,622 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: 26/44/30 Blend
47$1,060,000$1,060,000$1,060,000$1,060,000
48$1,174,053$1,117,873$1,101,443$1,193,513
49$1,247,393$1,126,236$1,091,928$1,218,479
50$1,326,752$1,133,546$1,080,632$1,241,173
51$1,412,697$1,139,706$1,067,450$1,264,642
52$1,505,853$1,144,612$1,052,270$1,288,982
53$1,606,906$1,148,154$1,034,977$1,314,302
54$1,716,612$1,150,215$1,015,450$1,340,728
55$1,835,800$1,150,669$993,562$1,368,400
56$1,965,384$1,149,385$969,179$1,397,478
57$2,106,370$1,146,221$942,163$1,428,142
58$2,259,862$1,141,029$912,368$1,460,595
59$2,427,078$1,133,649$879,642$1,495,065
60$2,609,356$1,123,914$843,826$1,531,810
61$2,808,170$1,111,645$804,754$1,571,116
62$3,025,142$1,096,655$762,252$1,613,309
63$3,262,057$1,078,741$716,138$1,658,752
64$3,520,880$1,057,693$666,222$1,707,850
65$3,803,775$1,033,285$612,306$1,761,058
66$4,113,124$1,005,280$554,182$1,818,885
67$4,451,550$973,426$491,634$1,881,899
68$4,821,940$937,456$424,436$1,950,735
69$5,227,475$897,088$352,351$2,026,099
70$5,671,655$852,023$275,133$2,108,782
71$6,158,337$801,946$192,523$2,199,663
72$6,691,769$746,522$104,254$2,299,720
73$7,276,627$685,400$10,044$2,410,046
74$7,918,063$618,204$0$2,531,851
75$8,621,750$544,541$0$2,695,454
76$9,393,940$463,995$0$2,878,700
77$10,241,514$376,123$0$3,080,138
78$11,172,058$280,462$0$3,301,726
79$12,193,923$176,520$0$3,545,630
80$13,316,311$63,777$0$3,814,245
81$14,549,359$0$0$4,110,223
82$15,904,233$0$0$4,464,728
83$17,393,236$0$0$4,888,454
84$19,029,921$0$0$5,354,403
85$20,829,218$0$0$5,866,849
86$22,807,579$0$0$6,430,503
87$24,983,126$0$0$7,050,554
88$27,375,829$0$0$7,732,722
89$30,007,686$0$0$8,483,305
90$32,902,938$0$0$9,309,246
91$36,088,291$0$0$10,218,193
92$39,593,172$0$0$11,218,574
93$43,450,002$0$0$12,319,675
94$47,694,507$0$0$13,531,727
95$52,366,048$0$0$14,866,005
96$57,507,997$0$0$16,334,932
97$63,168,145$0$0$17,952,197
98$69,399,149$0$0$19,732,882
99$76,259,032$0$0$21,693,608
100$83,811,731$0$0$23,852,689