Can I retire at age 48 with 940,000?

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 $940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$77,624$76,933$76,258$75,600$74,957$72,097
2 years$38,428$37,712$37,019$36,346$35,694$32,846
3 years$25,364$24,645$23,953$23,287$22,646$19,900
4 years$18,834$18,117$17,432$16,777$16,151$13,528
5 years$14,916$14,204$13,528$12,886$12,278$9,784
6 years$12,305$11,599$10,933$10,305$9,715$7,353
7 years$10,441$9,740$9,085$8,473$7,901$5,669
8 years$9,044$8,349$7,705$7,108$6,555$4,451
9 years$7,958$7,270$6,636$6,054$5,520$3,542
10 years$7,089$6,408$5,786$5,219$4,703$2,847
11 years$6,379$5,704$5,094$4,542$4,045$2,306
12 years$5,788$5,120$4,520$3,984$3,505$1,879
13 years$5,288$4,627$4,039$3,517$3,057$1,539
14 years$4,859$4,206$3,629$3,122$2,679$1,265
15 years$4,489$3,842$3,276$2,784$2,359$1,044
16 years$4,165$3,525$2,970$2,493$2,085$863
17 years$3,879$3,246$2,703$2,240$1,849$715
18 years$3,625$3,000$2,467$2,019$1,644$593
19 years$3,399$2,780$2,259$1,824$1,465$493
20 years$3,195$2,584$2,073$1,652$1,309$410
21 years$3,011$2,406$1,907$1,499$1,171$342
22 years$2,843$2,246$1,757$1,363$1,050$285
23 years$2,691$2,101$1,623$1,242$942$238
24 years$2,552$1,968$1,501$1,132$847$198
25 years$2,423$1,847$1,390$1,034$762$166
26 years$2,305$1,736$1,289$946$687$138
27 years$2,196$1,634$1,197$865$619$115
28 years$2,095$1,540$1,113$793$559$97
29 years$2,001$1,452$1,036$727$504$81
30 years$1,913$1,372$965$667$456$67
31 years$1,832$1,297$899$613$412$56
32 years$1,755$1,227$839$563$373$47
33 years$1,683$1,162$783$518$337$39
34 years$1,616$1,101$732$477$305$33
35 years$1,553$1,045$684$439$277$28
36 years$1,493$991$640$404$251$23
37 years$1,437$942$599$372$227$19
38 years$1,383$895$561$343$206$16
39 years$1,333$851$526$316$187$14
40 years$1,285$810$493$292$169$11
41 years$1,240$771$462$269$154$9
42 years$1,197$734$433$248$139$8
43 years$1,156$699$407$229$127$7
44 years$1,117$667$382$212$115$6
45 years$1,080$636$358$196$104$5
46 years$1,044$606$337$181$95$4
47 years$1,011$579$316$167$86$3
48 years$978$552$297$154$78$3
49 years$947$528$279$143$71$2
50 years$918$504$263$132$64$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $940,000, adding $4,800 every year, while hoping to spend $58,950 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: 56/24/20 Blend
47$940,000$940,000$940,000$940,000
48$1,040,831$991,011$976,441$1,093,271
49$1,084,274$976,848$946,430$1,115,426
50$1,130,171$960,016$913,437$1,132,842
51$1,178,713$940,321$877,301$1,150,524
52$1,230,103$917,558$837,852$1,168,513
53$1,284,567$891,512$794,914$1,186,854
54$1,342,350$861,952$748,300$1,205,605
55$1,403,719$828,637$697,817$1,224,830
56$1,468,968$791,310$643,264$1,244,602
57$1,538,417$749,699$584,428$1,265,009
58$1,612,418$703,517$521,089$1,286,149
59$1,691,356$652,460$453,016$1,308,136
60$1,775,651$596,207$379,969$1,331,098
61$1,865,765$534,419$301,695$1,355,184
62$1,962,204$466,737$217,933$1,380,562
63$2,065,522$392,781$128,408$1,407,422
64$2,176,330$312,151$32,834$1,435,979
65$2,295,293$224,425$0$1,466,478
66$2,423,146$129,154$0$1,513,954
67$2,560,692$25,868$0$1,572,394
68$2,708,816$0$0$1,635,205
69$2,868,486$0$0$1,725,545
70$3,040,768$0$0$1,830,457
71$3,226,834$0$0$1,943,831
72$3,427,970$0$0$2,066,460
73$3,645,589$0$0$2,199,213
74$3,881,247$0$0$2,343,050
75$4,136,652$0$0$2,499,023
76$4,413,682$0$0$2,668,289
77$4,714,406$0$0$2,852,124
78$5,041,094$0$0$3,051,927
79$5,396,249$0$0$3,269,241
80$5,782,619$0$0$3,505,759
81$6,203,231$0$0$3,763,349
82$6,661,416$0$0$4,044,064
83$7,160,838$0$0$4,350,161
84$7,705,529$0$0$4,684,130
85$8,299,929$0$0$5,048,706
86$8,948,923$0$0$5,446,903
87$9,657,890$0$0$5,882,037
88$10,432,751$0$0$6,357,761
89$11,280,026$0$0$6,878,096
90$12,206,891$0$0$7,447,467
91$13,221,250$0$0$8,070,751
92$14,331,805$0$0$8,753,314
93$15,548,140$0$0$9,501,067
94$16,880,807$0$0$10,320,522
95$18,341,429$0$0$11,218,847
96$19,942,806$0$0$12,203,938
97$21,699,036$0$0$13,284,493
98$23,625,646$0$0$14,470,090
99$25,739,740$0$0$15,771,282
100$28,060,156$0$0$17,199,691