Can I retire at age 48 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$92,489$91,665$90,861$90,076$89,310$86,834
2 years$45,786$44,934$44,107$43,306$42,529$40,053
3 years$30,221$29,365$28,540$27,747$26,982$24,584
4 years$22,440$21,586$20,770$19,990$19,244$16,941
5 years$17,772$16,924$16,118$15,354$14,629$12,428
6 years$14,662$13,820$13,026$12,279$11,575$9,479
7 years$12,441$11,606$10,825$10,095$9,414$7,422
8 years$10,776$9,948$9,180$8,469$7,810$5,921
9 years$9,482$8,662$7,907$7,213$6,577$4,790
10 years$8,447$7,635$6,893$6,218$5,604$3,916
11 years$7,601$6,797$6,069$5,411$4,819$3,228
12 years$6,896$6,100$5,386$4,747$4,176$2,679
13 years$6,300$5,513$4,812$4,191$3,642$2,234
14 years$5,790$5,011$4,324$3,720$3,193$1,872
15 years$5,348$4,578$3,904$3,317$2,811$1,573
16 years$4,962$4,200$3,539$2,970$2,484$1,327
17 years$4,622$3,868$3,221$2,669$2,203$1,121
18 years$4,319$3,574$2,940$2,405$1,959$949
19 years$4,049$3,313$2,691$2,173$1,746$805
20 years$3,807$3,078$2,470$1,968$1,559$684
21 years$3,587$2,867$2,272$1,786$1,395$582
22 years$3,388$2,677$2,094$1,624$1,251$495
23 years$3,206$2,503$1,933$1,479$1,123$422
24 years$3,040$2,345$1,788$1,349$1,009$360
25 years$2,888$2,201$1,656$1,232$908$307
26 years$2,747$2,069$1,536$1,127$818$262
27 years$2,617$1,947$1,426$1,031$737$224
28 years$2,496$1,834$1,326$945$665$191
29 years$2,384$1,731$1,234$866$601$163
30 years$2,280$1,634$1,149$795$543$140
31 years$2,182$1,545$1,071$730$491$119
32 years$2,091$1,462$1,000$671$444$102
33 years$2,006$1,384$933$617$402$87
34 years$1,925$1,312$872$568$364$75
35 years$1,850$1,245$815$523$330$64
36 years$1,779$1,181$763$481$299$55
37 years$1,712$1,122$714$444$271$47
38 years$1,648$1,066$669$409$245$40
39 years$1,588$1,014$626$377$222$34
40 years$1,531$965$587$348$202$29
41 years$1,477$918$551$321$183$25
42 years$1,426$874$516$296$166$21
43 years$1,377$833$485$273$151$18
44 years$1,331$794$455$252$137$16
45 years$1,286$757$427$233$124$13
46 years$1,244$723$401$215$113$12
47 years$1,204$689$377$199$102$10
48 years$1,166$658$354$184$93$8
49 years$1,129$629$333$170$84$7
50 years$1,094$600$313$157$77$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $1,120,000, adding $6,196 every year, while hoping to spend $57,838 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: 41/45/14 Blend
47$1,120,000$1,120,000$1,120,000$1,120,000
48$1,240,631$1,181,271$1,163,911$1,286,129
49$1,305,636$1,177,614$1,141,363$1,315,168
50$1,375,334$1,171,840$1,116,121$1,340,414
51$1,450,140$1,163,783$1,088,034$1,366,483
52$1,530,515$1,153,268$1,056,943$1,393,477
53$1,616,960$1,140,111$1,022,684$1,421,513
54$1,710,028$1,124,115$985,082$1,450,722
55$1,810,326$1,105,071$943,957$1,481,253
56$1,918,519$1,082,759$899,119$1,513,277
57$2,035,339$1,056,945$850,370$1,546,985
58$2,161,590$1,027,383$797,505$1,582,594
59$2,298,157$993,808$740,305$1,620,348
60$2,446,009$955,946$678,546$1,660,524
61$2,606,216$913,501$611,992$1,703,430
62$2,779,952$866,165$540,395$1,749,415
63$2,968,508$813,607$463,499$1,798,871
64$3,173,304$755,482$381,034$1,852,238
65$3,395,902$691,422$292,720$1,910,006
66$3,638,022$621,039$198,263$1,972,727
67$3,901,553$543,923$97,358$2,041,019
68$4,188,577$459,641$0$2,115,569
69$4,501,382$367,734$0$2,198,692
70$4,842,490$267,719$0$2,305,325
71$5,214,672$159,086$0$2,421,921
72$5,620,982$41,294$0$2,549,604
73$6,064,779$0$0$2,689,624
74$6,549,763$0$0$2,886,064
75$7,080,006$0$0$3,123,331
76$7,659,993$0$0$3,383,001
77$8,294,659$0$0$3,667,301
78$8,989,442$0$0$3,978,685
79$9,750,328$0$0$4,319,857
80$10,583,909$0$0$4,693,791
81$11,497,445$0$0$5,103,765
82$12,498,932$0$0$5,553,390
83$13,597,176$0$0$6,046,642
84$14,801,877$0$0$6,587,900
85$16,123,718$0$0$7,181,987
86$17,574,466$0$0$7,834,219
87$19,167,083$0$0$8,550,448
88$20,915,848$0$0$9,337,121
89$22,836,490$0$0$10,201,344
90$24,946,334$0$0$11,150,939
91$27,264,469$0$0$12,194,529
92$29,811,922$0$0$13,341,610
93$32,611,860$0$0$14,602,646
94$35,689,804$0$0$15,989,163
95$39,073,871$0$0$17,513,862
96$42,795,039$0$0$19,190,735
97$46,887,440$0$0$21,035,198
98$51,388,675$0$0$23,064,237
99$56,340,176$0$0$25,296,567
100$61,787,591$0$0$27,752,808