Can I retire at age 48 with 980,000?

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 $980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$80,927$80,207$79,503$78,817$78,147$76,011
2 years$40,063$39,317$38,594$37,893$37,213$35,077
3 years$26,443$25,694$24,973$24,278$23,609$21,540
4 years$19,635$18,888$18,174$17,491$16,838$14,851
5 years$15,551$14,808$14,104$13,435$12,800$10,901
6 years$12,829$12,092$11,398$10,744$10,128$8,319
7 years$10,886$10,155$9,472$8,833$8,237$6,517
8 years$9,429$8,705$8,033$7,410$6,833$5,202
9 years$8,296$7,579$6,919$6,312$5,755$4,211
10 years$7,391$6,680$6,032$5,441$4,903$3,445
11 years$6,650$5,947$5,310$4,735$4,217$2,841
12 years$6,034$5,338$4,713$4,153$3,654$2,359
13 years$5,513$4,824$4,211$3,667$3,187$1,969
14 years$5,066$4,385$3,783$3,255$2,793$1,651
15 years$4,680$4,006$3,416$2,903$2,460$1,389
16 years$4,342$3,675$3,097$2,599$2,174$1,172
17 years$4,044$3,385$2,818$2,335$1,927$991
18 years$3,779$3,128$2,572$2,105$1,714$840
19 years$3,543$2,899$2,355$1,902$1,528$713
20 years$3,331$2,693$2,161$1,722$1,364$606
21 years$3,139$2,509$1,988$1,563$1,221$516
22 years$2,964$2,342$1,832$1,421$1,094$439
23 years$2,806$2,190$1,692$1,294$982$375
24 years$2,660$2,052$1,565$1,181$883$320
25 years$2,527$1,926$1,449$1,078$795$273
26 years$2,403$1,810$1,344$986$716$233
27 years$2,290$1,703$1,248$902$645$199
28 years$2,184$1,605$1,160$827$582$170
29 years$2,086$1,514$1,080$758$526$146
30 years$1,995$1,430$1,006$696$475$125
31 years$1,910$1,352$938$639$430$107
32 years$1,830$1,279$875$587$389$91
33 years$1,755$1,211$817$540$352$78
34 years$1,685$1,148$763$497$318$67
35 years$1,619$1,089$713$457$288$57
36 years$1,556$1,034$667$421$261$49
37 years$1,498$982$625$388$237$42
38 years$1,442$933$585$358$215$36
39 years$1,390$887$548$330$195$31
40 years$1,340$844$514$304$177$26
41 years$1,293$803$482$281$160$23
42 years$1,248$765$452$259$145$19
43 years$1,205$729$424$239$132$17
44 years$1,164$695$398$221$120$14
45 years$1,126$663$374$204$109$12
46 years$1,089$632$351$188$99$10
47 years$1,054$603$330$174$90$9
48 years$1,020$576$310$161$81$8
49 years$988$550$291$149$74$7
50 years$957$525$274$137$67$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $980,000, adding $6,481 every year, while hoping to spend $20,900 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: 66/19/15 Blend
47$980,000$980,000$980,000$980,000
48$1,086,645$1,034,705$1,019,515$1,154,070
49$1,175,246$1,063,168$1,031,431$1,228,393
50$1,272,183$1,092,326$1,043,047$1,306,567
51$1,378,285$1,122,189$1,054,328$1,391,497
52$1,494,464$1,152,771$1,065,242$1,483,844
53$1,621,725$1,184,082$1,075,753$1,584,337
54$1,761,173$1,216,134$1,085,824$1,693,774
55$1,914,027$1,248,939$1,095,413$1,813,040
56$2,081,629$1,282,508$1,104,480$1,943,105
57$2,265,456$1,316,851$1,112,981$2,085,040
58$2,467,135$1,351,980$1,120,868$2,240,023
59$2,688,459$1,387,903$1,128,094$2,409,352
60$2,931,403$1,424,632$1,134,607$2,594,458
61$3,198,143$1,462,175$1,140,352$2,796,917
62$3,491,073$1,500,542$1,145,274$3,018,464
63$3,812,834$1,539,740$1,149,312$3,261,011
64$4,166,333$1,579,777$1,152,404$3,526,666
65$4,554,774$1,620,661$1,154,485$3,817,749
66$4,981,686$1,662,398$1,155,484$4,136,817
67$5,450,955$1,704,993$1,155,330$4,486,689
68$5,966,866$1,748,451$1,153,947$4,870,468
69$6,534,137$1,792,776$1,151,255$5,291,576
70$7,157,967$1,837,970$1,147,170$5,753,781
71$7,844,084$1,884,035$1,141,605$6,261,236
72$8,598,799$1,930,971$1,134,467$6,818,517
73$9,429,066$1,978,778$1,125,661$7,430,666
74$10,342,545$2,027,453$1,115,085$8,103,240
75$11,347,678$2,076,991$1,102,634$8,842,361
76$12,453,766$2,127,389$1,088,197$9,654,776
77$13,671,057$2,178,637$1,071,658$10,547,918
78$15,010,841$2,230,728$1,052,896$11,529,980
79$16,485,562$2,283,649$1,031,783$12,609,990
80$18,108,929$2,337,386$1,008,187$13,797,894
81$19,896,047$2,391,925$981,969$15,104,656
82$21,863,561$2,447,247$952,982$16,542,355
83$24,029,812$2,503,330$921,075$18,124,303
84$26,415,010$2,560,151$886,088$19,865,171
85$29,041,424$2,617,681$847,855$21,781,123
86$31,933,593$2,675,891$806,202$23,889,975
87$35,118,557$2,734,747$760,947$26,211,358
88$38,626,111$2,794,210$711,899$28,766,906
89$42,489,087$2,854,240$658,861$31,580,459
90$46,743,664$2,914,788$601,624$34,678,291
91$51,429,711$2,975,805$539,971$38,089,354
92$56,591,157$3,037,236$473,675$41,845,554
93$62,276,413$3,099,018$402,501$45,982,051
94$68,538,822$3,161,085$326,200$50,537,593
95$75,437,170$3,223,366$244,516$55,554,880
96$83,036,231$3,285,781$157,177$61,080,968
97$91,407,388$3,348,246$63,904$67,167,713
98$100,629,299$3,410,667$0$73,872,263
99$110,788,643$3,472,945$0$81,263,296
100$121,980,937$3,534,972$0$89,415,795