Can I retire at age 48 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$102,398$101,486$100,596$99,727$98,879$98,463
2 years$50,692$49,748$48,833$47,946$47,085$46,665
3 years$33,459$32,511$31,598$30,719$29,873$29,461
4 years$24,844$23,899$22,995$22,132$21,306$20,906
5 years$19,677$18,737$17,845$16,999$16,196$15,810
6 years$16,233$15,300$14,422$13,594$12,815$12,443
7 years$13,774$12,849$11,985$11,177$10,422$10,064
8 years$11,930$11,014$10,164$9,376$8,646$8,302
9 years$10,497$9,590$8,754$7,986$7,282$6,952
10 years$9,352$8,453$7,632$6,884$6,204$5,888
11 years$8,415$7,525$6,719$5,991$5,336$5,034
12 years$7,635$6,754$5,963$5,255$4,624$4,335
13 years$6,975$6,104$5,328$4,640$4,032$3,756
14 years$6,410$5,548$4,787$4,118$3,535$3,272
15 years$5,921$5,068$4,322$3,673$3,112$2,862
16 years$5,494$4,650$3,918$3,289$2,750$2,512
17 years$5,117$4,283$3,566$2,955$2,439$2,213
18 years$4,782$3,957$3,255$2,663$2,168$1,954
19 years$4,483$3,668$2,980$2,406$1,933$1,729
20 years$4,214$3,408$2,735$2,179$1,726$1,534
21 years$3,971$3,174$2,515$1,978$1,545$1,363
22 years$3,751$2,963$2,318$1,798$1,385$1,212
23 years$3,550$2,771$2,141$1,638$1,243$1,080
24 years$3,366$2,597$1,980$1,494$1,117$964
25 years$3,197$2,437$1,834$1,364$1,005$861
26 years$3,041$2,290$1,701$1,247$906$769
27 years$2,897$2,155$1,579$1,142$817$688
28 years$2,764$2,031$1,468$1,046$737$616
29 years$2,640$1,916$1,366$959$665$552
30 years$2,524$1,810$1,272$880$601$495
31 years$2,416$1,711$1,186$809$543$444
32 years$2,315$1,619$1,107$743$492$398
33 years$2,221$1,533$1,033$683$445$357
34 years$2,132$1,453$966$629$403$321
35 years$2,048$1,378$903$579$365$288
36 years$1,969$1,308$844$533$331$259
37 years$1,895$1,242$790$491$300$233
38 years$1,825$1,180$740$453$272$209
39 years$1,758$1,123$693$417$246$188
40 years$1,695$1,068$650$385$223$169
41 years$1,635$1,017$609$355$203$152
42 years$1,579$968$572$328$184$137
43 years$1,525$922$536$303$167$123
44 years$1,473$879$504$279$152$111
45 years$1,424$839$473$258$138$100
46 years$1,378$800$444$238$125$90
47 years$1,333$763$417$220$113$81
48 years$1,290$729$392$203$103$73
49 years$1,250$696$369$188$94$66
50 years$1,211$665$346$174$85$59

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $1,240,000, adding $6,038 every year, while hoping to spend $37,711 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: 69/10/21 Blend
47$1,240,000$1,240,000$1,240,000$1,240,000
48$1,372,708$1,306,988$1,287,768$1,459,861
49$1,472,600$1,330,906$1,290,784$1,542,796
50$1,581,417$1,354,733$1,292,637$1,628,544
51$1,700,030$1,378,423$1,293,249$1,721,460
52$1,829,396$1,401,929$1,292,536$1,822,249
53$1,970,571$1,425,200$1,290,412$1,931,690
54$2,124,715$1,448,180$1,286,786$2,050,639
55$2,293,105$1,470,810$1,281,563$2,180,042
56$2,477,149$1,493,027$1,274,643$2,320,939
57$2,678,395$1,514,762$1,265,920$2,474,478
58$2,898,548$1,535,942$1,255,285$2,641,925
59$3,139,485$1,556,489$1,242,623$2,824,674
60$3,403,275$1,576,319$1,227,813$3,024,263
61$3,692,194$1,595,344$1,210,730$3,242,385
62$4,008,749$1,613,466$1,191,240$3,480,909
63$4,355,701$1,630,585$1,169,206$3,741,893
64$4,736,090$1,646,592$1,144,482$4,027,608
65$5,153,267$1,661,371$1,116,918$4,340,554
66$5,610,920$1,674,798$1,086,355$4,683,490
67$6,113,112$1,686,741$1,052,626$5,059,456
68$6,664,319$1,697,061$1,015,558$5,471,802
69$7,269,471$1,705,608$974,970$5,924,222
70$7,933,997$1,712,224$930,673$6,420,789
71$8,663,882$1,716,739$882,467$6,965,989
72$9,465,714$1,718,975$830,145$7,564,771
73$10,346,753$1,718,742$773,492$8,222,588
74$11,314,998$1,715,836$712,280$8,945,451
75$12,379,260$1,710,044$646,273$9,739,987
76$13,549,245$1,701,137$575,224$10,613,499
77$14,835,649$1,688,873$498,875$11,574,038
78$16,250,254$1,672,997$416,956$12,630,478
79$17,806,042$1,653,236$329,186$13,792,602
80$19,517,315$1,629,302$235,271$15,071,190
81$21,399,833$1,600,889$134,904$16,478,127
82$23,470,957$1,567,674$27,765$18,026,513
83$25,749,819$1,529,315$0$19,730,784
84$28,257,497$1,485,447$0$21,626,254
85$31,017,216$1,435,688$0$23,718,965
86$34,054,566$1,379,631$0$26,022,105
87$37,397,744$1,316,845$0$28,557,068
88$41,077,819$1,246,875$0$31,347,430
89$45,129,024$1,169,240$0$34,419,171
90$49,589,083$1,083,431$0$37,800,920
91$54,499,560$988,910$0$41,524,226
92$59,906,256$885,107$0$45,623,854
93$65,859,639$771,422$0$50,138,116
94$72,415,319$647,219$0$55,109,229
95$79,634,576$511,827$0$60,583,717
96$87,584,933$364,537$0$66,612,850
97$96,340,798$204,601$0$73,253,125
98$105,984,159$31,226$0$80,566,803
99$116,605,366$0$0$88,622,494
100$128,303,978$0$0$97,513,020