Can I retire at age 55 with 888,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $888,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$73,330$72,677$72,040$71,418$70,810$69,723
2 years$36,302$35,626$34,971$34,335$33,719$32,627
3 years$23,961$23,282$22,628$21,999$21,393$20,329
4 years$17,792$17,115$16,468$15,849$15,258$14,230
5 years$14,091$13,418$12,780$12,174$11,599$10,611
6 years$11,625$10,957$10,328$9,735$9,178$8,231
7 years$9,864$9,202$8,582$8,004$7,464$6,558
8 years$8,544$7,887$7,279$6,714$6,192$5,327
9 years$7,517$6,867$6,269$5,719$5,215$4,390
10 years$6,697$6,053$5,466$4,930$4,443$3,659
11 years$6,026$5,389$4,812$4,291$3,821$3,076
12 years$5,467$4,837$4,270$3,763$3,311$2,604
13 years$4,995$4,371$3,815$3,322$2,888$2,218
14 years$4,591$3,973$3,428$2,949$2,531$1,897
15 years$4,240$3,630$3,095$2,630$2,229$1,630
16 years$3,934$3,330$2,806$2,355$1,970$1,404
17 years$3,664$3,067$2,553$2,116$1,746$1,214
18 years$3,425$2,834$2,331$1,907$1,553$1,051
19 years$3,211$2,626$2,134$1,723$1,384$913
20 years$3,018$2,441$1,958$1,561$1,236$793
21 years$2,844$2,273$1,801$1,416$1,106$691
22 years$2,686$2,122$1,660$1,288$992$602
23 years$2,542$1,985$1,533$1,173$890$526
24 years$2,410$1,860$1,418$1,070$800$459
25 years$2,289$1,745$1,313$977$720$402
26 years$2,178$1,640$1,218$893$649$352
27 years$2,075$1,544$1,131$818$585$308
28 years$1,979$1,454$1,051$749$528$270
29 years$1,890$1,372$978$687$476$236
30 years$1,808$1,296$911$630$430$207
31 years$1,730$1,225$850$579$389$182
32 years$1,658$1,159$793$532$352$160
33 years$1,590$1,098$740$489$319$140
34 years$1,527$1,040$691$450$288$123
35 years$1,467$987$646$414$261$108
36 years$1,410$937$605$382$237$95
37 years$1,357$890$566$352$215$83
38 years$1,307$845$530$324$195$73
39 years$1,259$804$497$299$176$64
40 years$1,214$765$465$276$160$57
41 years$1,171$728$436$254$145$50
42 years$1,131$693$409$235$132$44
43 years$1,092$661$384$217$120$38
44 years$1,055$630$361$200$108$34
45 years$1,020$600$339$185$98$30
46 years$987$573$318$171$89$26
47 years$955$547$299$158$81$23
48 years$924$522$281$146$74$20
49 years$895$498$264$135$67$18
50 years$867$476$248$124$61$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $888,000, adding $5,971 every year, while hoping to spend $35,697 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: 51/26/23 Blend
54$888,000$888,000$888,000$888,000
55$984,735$937,671$923,907$1,028,352
56$1,047,197$945,636$916,877$1,067,157
57$1,114,833$952,794$908,414$1,105,197
58$1,188,134$959,069$898,434$1,145,822
59$1,267,639$964,379$886,847$1,189,292
60$1,353,940$968,635$873,559$1,235,892
61$1,447,690$971,746$858,470$1,285,941
62$1,549,605$973,612$841,480$1,339,791
63$1,660,474$974,129$822,479$1,397,831
64$1,781,165$973,184$801,355$1,460,490
65$1,912,634$970,660$777,990$1,528,247
66$2,055,931$966,430$752,261$1,601,627
67$2,212,212$960,362$724,038$1,681,215
68$2,382,751$952,313$693,187$1,767,655
69$2,568,950$942,134$659,566$1,861,660
70$2,772,350$929,666$623,029$1,964,020
71$2,994,650$914,740$583,421$2,075,605
72$3,237,720$897,178$540,581$2,197,379
73$3,503,618$876,790$494,341$2,330,409
74$3,794,610$853,376$444,524$2,475,872
75$4,113,193$826,724$390,948$2,635,069
76$4,462,114$796,609$333,421$2,809,438
77$4,844,400$762,793$271,741$3,000,567
78$5,263,385$725,026$205,701$3,210,213
79$5,722,740$683,042$135,081$3,440,313
80$6,226,507$636,559$59,654$3,693,010
81$6,779,139$585,279$0$3,970,668
82$7,385,543$528,889$0$4,281,015
83$8,051,120$467,056$0$4,637,776
84$8,781,822$399,429$0$5,029,543
85$9,584,204$325,638$0$5,459,901
86$10,465,488$245,289$0$5,932,800
87$11,433,629$157,970$0$6,452,598
88$12,497,392$63,243$0$7,024,102
89$13,666,431$0$0$7,652,609
90$14,951,383$0$0$8,355,225
91$16,363,965$0$0$9,147,621
92$17,917,088$0$0$10,018,956
93$19,624,976$0$0$10,977,222
94$21,503,299$0$0$12,031,227
95$23,569,323$0$0$13,190,671
96$25,842,071$0$0$14,466,244
97$28,342,503$0$0$15,869,725
98$31,093,713$0$0$17,414,091
99$34,121,144$0$0$19,113,640
100$37,452,833$0$0$20,984,128