Can I retire at age 59 with 883,000?

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 $883,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$72,917$72,268$71,634$71,016$70,412$69,590
2 years$36,098$35,425$34,774$34,142$33,529$32,702
3 years$23,826$23,151$22,501$21,875$21,272$20,465
4 years$17,691$17,018$16,375$15,760$15,172$14,391
5 years$14,012$13,343$12,708$12,105$11,533$10,781
6 years$11,559$10,895$10,270$9,681$9,126$8,404
7 years$9,808$9,150$8,534$7,959$7,422$6,730
8 years$8,496$7,843$7,238$6,677$6,157$5,495
9 years$7,475$6,829$6,234$5,687$5,185$4,553
10 years$6,659$6,019$5,435$4,902$4,418$3,815
11 years$5,992$5,359$4,785$4,266$3,800$3,225
12 years$5,437$4,810$4,246$3,742$3,293$2,746
13 years$4,967$4,346$3,794$3,304$2,871$2,352
14 years$4,565$3,951$3,409$2,933$2,517$2,025
15 years$4,216$3,609$3,078$2,615$2,216$1,750
16 years$3,912$3,311$2,790$2,342$1,959$1,518
17 years$3,644$3,050$2,539$2,104$1,737$1,320
18 years$3,405$2,818$2,318$1,896$1,544$1,151
19 years$3,192$2,612$2,122$1,713$1,376$1,005
20 years$3,001$2,427$1,947$1,552$1,229$880
21 years$2,828$2,261$1,791$1,408$1,100$772
22 years$2,671$2,110$1,651$1,281$986$677
23 years$2,528$1,974$1,524$1,166$885$595
24 years$2,397$1,849$1,410$1,064$796$524
25 years$2,277$1,735$1,306$971$716$461
26 years$2,166$1,631$1,211$888$645$407
27 years$2,063$1,535$1,124$813$581$359
28 years$1,968$1,446$1,045$745$525$316
29 years$1,880$1,364$973$683$474$279
30 years$1,797$1,289$906$627$428$247
31 years$1,721$1,218$845$576$387$218
32 years$1,649$1,153$788$529$350$193
33 years$1,581$1,092$736$487$317$171
34 years$1,518$1,034$688$448$287$151
35 years$1,459$981$643$412$260$133
36 years$1,402$931$601$380$235$118
37 years$1,349$885$563$350$213$105
38 years$1,299$841$527$322$193$93
39 years$1,252$799$494$297$175$82
40 years$1,207$761$463$274$159$73
41 years$1,165$724$434$253$144$64
42 years$1,124$689$407$233$131$57
43 years$1,086$657$382$215$119$50
44 years$1,049$626$359$199$108$45
45 years$1,014$597$337$184$98$40
46 years$981$570$316$170$89$35
47 years$949$544$297$157$81$31
48 years$919$519$279$145$73$28
49 years$890$496$262$134$67$24
50 years$862$473$247$124$60$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $883,000, adding $2,401 every year, while hoping to spend $48,752 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: 40/42/18 Blend
58$883,000$883,000$883,000$883,000
59$975,543$928,744$915,057$1,009,266
60$1,023,176$922,380$893,840$1,027,176
61$1,074,034$914,071$870,278$1,041,660
62$1,128,395$903,670$844,241$1,056,310
63$1,186,561$891,020$815,593$1,071,164
64$1,248,868$875,957$784,193$1,086,272
65$1,315,680$858,306$749,890$1,101,689
66$1,387,398$837,882$712,531$1,117,483
67$1,464,464$814,489$671,952$1,133,731
68$1,547,360$787,920$627,983$1,150,523
69$1,636,618$757,955$580,448$1,167,964
70$1,732,820$724,362$529,159$1,186,174
71$1,836,606$686,894$473,925$1,205,290
72$1,948,680$645,293$414,542$1,225,472
73$2,069,815$599,282$350,799$1,246,898
74$2,200,861$548,571$282,475$1,269,776
75$2,342,751$492,853$209,340$1,294,337
76$2,496,511$431,803$131,153$1,320,848
77$2,663,272$365,078$47,663$1,349,607
78$2,844,274$292,315$0$1,380,955
79$3,040,882$213,131$0$1,423,230
80$3,254,599$127,121$0$1,479,193
81$3,487,077$33,859$0$1,540,219
82$3,740,134$0$0$1,606,911
83$4,015,770$0$0$1,710,956
84$4,316,186$0$0$1,841,514
85$4,643,805$0$0$1,984,005
86$5,001,293$0$0$2,139,602
87$5,391,585$0$0$2,309,596
88$5,817,912$0$0$2,495,411
89$6,283,831$0$0$2,698,610
90$6,793,257$0$0$2,920,919
91$7,350,501$0$0$3,164,236
92$7,960,311$0$0$3,430,650
93$8,627,913$0$0$3,722,464
94$9,359,064$0$0$4,042,212
95$10,160,101$0$0$4,392,687
96$11,038,007$0$0$4,776,962
97$12,000,468$0$0$5,198,425
98$13,055,953$0$0$5,660,804
99$14,213,788$0$0$6,168,208
100$15,484,245$0$0$6,725,163