Can I retire at age 48 with 1,190,000?

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$98,269$97,394$96,540$95,706$94,892$93,629
2 years$48,648$47,742$46,864$46,013$45,187$43,916
3 years$32,110$31,200$30,324$29,481$28,668$27,430
4 years$23,842$22,935$22,068$21,239$20,447$19,249
5 years$18,883$17,982$17,126$16,314$15,543$14,391
6 years$15,578$14,683$13,840$13,046$12,299$11,193
7 years$13,218$12,331$11,501$10,726$10,002$8,943
8 years$11,449$10,570$9,754$8,998$8,298$7,286
9 years$10,074$9,203$8,401$7,664$6,988$6,022
10 years$8,975$8,112$7,324$6,607$5,954$5,034
11 years$8,076$7,222$6,448$5,750$5,121$4,245
12 years$7,327$6,482$5,723$5,043$4,437$3,606
13 years$6,694$5,858$5,113$4,452$3,870$3,081
14 years$6,152$5,324$4,594$3,952$3,392$2,644
15 years$5,682$4,864$4,148$3,525$2,987$2,279
16 years$5,272$4,463$3,760$3,156$2,640$1,971
17 years$4,910$4,110$3,422$2,836$2,340$1,709
18 years$4,589$3,798$3,124$2,556$2,081$1,486
19 years$4,302$3,520$2,860$2,309$1,855$1,295
20 years$4,044$3,271$2,624$2,091$1,657$1,130
21 years$3,811$3,046$2,414$1,898$1,483$988
22 years$3,600$2,844$2,225$1,726$1,329$864
23 years$3,407$2,660$2,054$1,572$1,193$757
24 years$3,230$2,492$1,900$1,433$1,072$664
25 years$3,068$2,339$1,760$1,309$965$583
26 years$2,919$2,198$1,632$1,197$869$512
27 years$2,780$2,069$1,515$1,096$784$450
28 years$2,652$1,949$1,409$1,004$707$396
29 years$2,533$1,839$1,311$921$638$349
30 years$2,422$1,737$1,221$845$577$307
31 years$2,319$1,642$1,138$776$522$270
32 years$2,222$1,553$1,062$713$472$238
33 years$2,131$1,471$992$656$427$210
34 years$2,046$1,394$927$603$387$185
35 years$1,966$1,322$866$555$350$163
36 years$1,890$1,255$810$512$317$144
37 years$1,819$1,192$759$471$288$127
38 years$1,751$1,133$710$434$261$112
39 years$1,687$1,077$666$401$236$99
40 years$1,627$1,025$624$369$214$87
41 years$1,570$976$585$341$195$77
42 years$1,515$929$549$315$176$68
43 years$1,463$885$515$290$160$60
44 years$1,414$844$483$268$145$53
45 years$1,367$805$454$248$132$47
46 years$1,322$768$426$229$120$41
47 years$1,279$733$400$211$109$37
48 years$1,238$699$376$195$99$32
49 years$1,199$668$354$180$90$28
50 years$1,162$638$333$167$82$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $1,190,000, adding $5,723 every year, while hoping to spend $39,372 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: 80/7/13 Blend
47$1,190,000$1,190,000$1,190,000$1,190,000
48$1,317,283$1,254,213$1,235,768$1,418,918
49$1,409,755$1,273,778$1,235,275$1,506,083
50$1,510,339$1,292,982$1,233,446$1,596,040
51$1,619,821$1,311,766$1,230,194$1,693,624
52$1,739,066$1,330,066$1,225,429$1,799,580
53$1,869,027$1,347,815$1,219,056$1,914,729
54$2,010,749$1,364,940$1,210,976$2,039,977
55$2,165,386$1,381,362$1,201,085$2,176,320
56$2,334,207$1,397,000$1,189,272$2,324,855
57$2,518,607$1,411,765$1,175,425$2,486,793
58$2,720,126$1,425,562$1,159,422$2,663,466
59$2,940,455$1,438,291$1,141,139$2,856,342
60$3,181,458$1,449,844$1,120,443$3,067,039
61$3,445,187$1,460,107$1,097,199$3,297,339
62$3,733,902$1,468,958$1,071,261$3,549,207
63$4,050,091$1,476,268$1,042,479$3,824,805
64$4,396,494$1,481,899$1,010,696$4,126,520
65$4,776,130$1,485,705$975,748$4,456,978
66$5,192,320$1,487,530$937,461$4,819,076
67$5,648,727$1,487,209$895,655$5,216,003
68$6,149,380$1,484,565$850,143$5,651,276
69$6,698,722$1,479,414$800,728$6,128,771
70$7,301,643$1,471,556$747,203$6,652,757
71$7,963,531$1,460,783$689,355$7,227,940
72$8,690,320$1,446,870$626,958$7,859,506
73$9,488,549$1,429,584$559,777$8,553,170
74$10,365,420$1,408,672$487,568$9,315,231
75$11,328,866$1,383,870$410,075$10,152,628
76$12,387,628$1,354,898$327,031$11,073,012
77$13,551,336$1,321,457$238,155$12,084,813
78$14,830,596$1,283,233$143,158$13,197,320
79$16,237,098$1,239,892$41,735$14,420,773
80$17,783,717$1,191,082$0$15,766,454
81$19,484,640$1,136,428$0$17,256,024
82$21,355,497$1,075,537$0$18,900,740
83$23,413,509$1,007,990$0$20,709,959
84$25,677,650$933,345$0$22,700,374
85$28,168,827$851,135$0$24,890,383
86$30,910,074$760,867$0$27,300,257
87$33,926,770$662,019$0$29,952,331
88$37,246,882$554,038$0$32,871,220
89$40,901,222$436,344$0$36,084,044
90$44,923,742$308,320$0$39,620,692
91$49,351,852$169,317$0$43,514,095
92$54,226,776$18,648$0$47,800,546
93$59,593,934$0$0$52,520,034
94$65,503,377$0$0$57,727,751
95$72,010,255$0$0$63,463,584
96$79,175,340$0$0$69,779,672
97$87,065,594$0$0$76,735,049
98$95,754,807$0$0$84,394,767
99$105,324,288$0$0$92,830,507
100$115,863,635$0$0$102,121,258