Can I retire at age 48 with 960,000?

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 $960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$79,276$78,570$77,881$77,208$76,552$74,671
2 years$39,245$38,515$37,806$37,119$36,453$34,570
3 years$25,904$25,170$24,463$23,783$23,127$21,300
4 years$19,234$18,502$17,803$17,134$16,495$14,738
5 years$15,234$14,506$13,816$13,161$12,539$10,858
6 years$12,567$11,845$11,165$10,525$9,922$8,318
7 years$10,664$9,948$9,278$8,653$8,069$6,542
8 years$9,236$8,527$7,869$7,259$6,694$5,244
9 years$8,127$7,424$6,777$6,183$5,637$4,262
10 years$7,240$6,544$5,909$5,330$4,803$3,502
11 years$6,515$5,826$5,202$4,638$4,131$2,902
12 years$5,911$5,229$4,617$4,068$3,580$2,420
13 years$5,400$4,725$4,125$3,592$3,122$2,030
14 years$4,963$4,295$3,706$3,188$2,736$1,710
15 years$4,584$3,924$3,346$2,844$2,409$1,445
16 years$4,253$3,600$3,034$2,546$2,129$1,226
17 years$3,961$3,316$2,760$2,288$1,888$1,042
18 years$3,702$3,064$2,520$2,062$1,679$887
19 years$3,471$2,839$2,307$1,863$1,496$757
20 years$3,263$2,639$2,117$1,687$1,337$647
21 years$3,075$2,458$1,947$1,531$1,196$554
22 years$2,904$2,294$1,795$1,392$1,072$474
23 years$2,748$2,146$1,657$1,268$962$407
24 years$2,606$2,010$1,533$1,156$865$349
25 years$2,475$1,887$1,420$1,056$778$300
26 years$2,354$1,773$1,317$966$701$257
27 years$2,243$1,669$1,223$884$632$221
28 years$2,140$1,572$1,136$810$570$190
29 years$2,044$1,483$1,058$743$515$164
30 years$1,954$1,401$985$682$465$141
31 years$1,871$1,324$918$626$421$121
32 years$1,792$1,253$857$575$381$104
33 years$1,719$1,187$800$529$344$90
34 years$1,650$1,125$748$487$312$77
35 years$1,586$1,067$699$448$282$67
36 years$1,525$1,013$654$413$256$57
37 years$1,467$962$612$380$232$49
38 years$1,413$914$573$350$210$43
39 years$1,361$869$537$323$191$37
40 years$1,312$827$503$298$173$32
41 years$1,266$787$472$275$157$27
42 years$1,222$750$443$254$142$23
43 years$1,180$714$415$234$129$20
44 years$1,141$681$390$216$117$17
45 years$1,103$649$366$200$106$15
46 years$1,067$619$344$185$97$13
47 years$1,032$591$323$170$88$11
48 years$999$564$304$158$80$10
49 years$967$539$285$146$72$8
50 years$937$515$268$135$66$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $960,000, adding $2,163 every year, while hoping to spend $25,508 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: 49/27/24 Blend
47$960,000$960,000$960,000$960,000
48$1,060,151$1,009,271$994,391$1,104,806
49$1,141,146$1,031,585$1,000,563$1,158,485
50$1,229,548$1,054,138$1,006,087$1,214,039
51$1,326,085$1,076,913$1,010,913$1,273,878
52$1,431,559$1,099,895$1,014,992$1,338,417
53$1,546,853$1,123,065$1,018,269$1,408,116
54$1,672,939$1,146,402$1,020,689$1,483,479
55$1,810,887$1,169,885$1,022,191$1,565,063
56$1,961,877$1,193,488$1,022,713$1,653,482
57$2,127,205$1,217,186$1,022,191$1,749,414
58$2,308,301$1,240,950$1,020,555$1,853,606
59$2,506,739$1,264,747$1,017,735$1,966,879
60$2,724,252$1,288,545$1,013,654$2,090,143
61$2,962,748$1,312,306$1,008,235$2,224,397
62$3,224,331$1,335,992$1,001,393$2,370,747
63$3,511,315$1,359,558$993,042$2,530,407
64$3,826,253$1,382,960$983,092$2,704,721
65$4,171,952$1,406,147$971,448$2,895,168
66$4,551,509$1,429,065$958,009$3,103,379
67$4,968,332$1,451,659$942,671$3,331,153
68$5,426,177$1,473,865$925,326$3,580,474
69$5,929,181$1,495,618$905,858$3,853,528
70$6,481,902$1,516,848$884,149$4,152,727
71$7,089,360$1,537,478$860,072$4,480,731
72$7,757,088$1,557,427$833,498$4,840,470
73$8,491,179$1,576,610$804,288$5,235,177
74$9,298,349$1,594,932$772,300$5,668,415
75$10,185,993$1,612,296$737,385$6,144,115
76$11,162,261$1,628,597$699,385$6,666,608
77$12,236,134$1,643,720$658,137$7,240,671
78$13,417,505$1,657,548$613,470$7,871,570
79$14,717,274$1,669,951$565,204$8,565,111
80$16,147,452$1,680,795$513,155$9,327,693
81$17,721,272$1,689,933$457,125$10,166,375
82$19,453,316$1,697,214$396,912$11,088,935
83$21,359,648$1,702,471$332,303$12,103,949
84$23,457,973$1,705,533$263,076$13,220,873
85$25,767,795$1,706,213$188,998$14,450,130
86$28,310,608$1,704,315$109,827$15,803,209
87$31,110,095$1,699,632$25,311$17,292,778
88$34,192,351$1,691,940$0$18,932,799
89$37,586,132$1,681,006$0$20,755,281
90$41,323,122$1,666,580$0$22,768,572
91$45,438,236$1,648,398$0$24,984,963
92$49,969,947$1,626,181$0$27,425,148
93$54,960,648$1,599,630$0$30,111,933
94$60,457,054$1,568,432$0$33,070,455
95$66,510,643$1,532,254$0$36,328,414
96$73,178,136$1,490,742$0$39,916,341
97$80,522,041$1,443,524$0$43,867,880
98$88,611,236$1,390,204$0$48,220,112
99$97,521,622$1,330,363$0$53,013,902
100$107,336,836$1,263,559$0$58,294,288