Can I retire at age 59 with 888,000?

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 $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%17.7%
1 years$73,330$72,677$72,040$71,418$70,810$68,599
2 years$36,302$35,626$34,971$34,335$33,719$31,511
3 years$23,961$23,282$22,628$21,999$21,393$19,257
4 years$17,792$17,115$16,468$15,849$15,258$13,210
5 years$14,091$13,418$12,780$12,174$11,599$9,645
6 years$11,625$10,957$10,328$9,735$9,178$7,320
7 years$9,864$9,202$8,582$8,004$7,464$5,703
8 years$8,544$7,887$7,279$6,714$6,192$4,525
9 years$7,517$6,867$6,269$5,719$5,215$3,641
10 years$6,697$6,053$5,466$4,930$4,443$2,960
11 years$6,026$5,389$4,812$4,291$3,821$2,426
12 years$5,467$4,837$4,270$3,763$3,311$2,001
13 years$4,995$4,371$3,815$3,322$2,888$1,659
14 years$4,591$3,973$3,428$2,949$2,531$1,381
15 years$4,240$3,630$3,095$2,630$2,229$1,154
16 years$3,934$3,330$2,806$2,355$1,970$966
17 years$3,664$3,067$2,553$2,116$1,746$811
18 years$3,425$2,834$2,331$1,907$1,553$682
19 years$3,211$2,626$2,134$1,723$1,384$575
20 years$3,018$2,441$1,958$1,561$1,236$485
21 years$2,844$2,273$1,801$1,416$1,106$410
22 years$2,686$2,122$1,660$1,288$992$346
23 years$2,542$1,985$1,533$1,173$890$293
24 years$2,410$1,860$1,418$1,070$800$248
25 years$2,289$1,745$1,313$977$720$210
26 years$2,178$1,640$1,218$893$649$178
27 years$2,075$1,544$1,131$818$585$151
28 years$1,979$1,454$1,051$749$528$128
29 years$1,890$1,372$978$687$476$109
30 years$1,808$1,296$911$630$430$92
31 years$1,730$1,225$850$579$389$78
32 years$1,658$1,159$793$532$352$66
33 years$1,590$1,098$740$489$319$56
34 years$1,527$1,040$691$450$288$48
35 years$1,467$987$646$414$261$41
36 years$1,410$937$605$382$237$34
37 years$1,357$890$566$352$215$29
38 years$1,307$845$530$324$195$25
39 years$1,259$804$497$299$176$21
40 years$1,214$765$465$276$160$18
41 years$1,171$728$436$254$145$15
42 years$1,131$693$409$235$132$13
43 years$1,092$661$384$217$120$11
44 years$1,055$630$361$200$108$9
45 years$1,020$600$339$185$98$8
46 years$987$573$318$171$89$7
47 years$955$547$299$158$81$6
48 years$924$522$281$146$74$5
49 years$895$498$264$135$67$4
50 years$867$476$248$124$61$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $888,000, adding $6,131 every year, while hoping to spend $32,583 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: 65/28/7 Blend
58$888,000$888,000$888,000$888,000
59$984,900$937,836$924,072$1,047,276
60$1,050,692$949,122$920,360$1,100,826
61$1,122,102$959,869$915,432$1,154,867
62$1,199,670$970,016$909,213$1,213,052
63$1,283,988$979,498$901,623$1,275,781
64$1,375,708$988,247$892,580$1,343,494
65$1,475,547$996,187$881,999$1,416,677
66$1,584,294$1,003,242$869,787$1,495,866
67$1,702,818$1,009,327$855,851$1,581,653
68$1,832,075$1,014,353$840,091$1,674,687
69$1,973,116$1,018,226$822,404$1,775,688
70$2,127,100$1,020,846$802,681$1,885,448
71$2,295,301$1,022,104$780,807$2,004,841
72$2,479,123$1,021,888$756,665$2,134,829
73$2,680,110$1,020,077$730,130$2,276,474
74$2,899,963$1,016,543$701,072$2,430,950
75$3,140,556$1,011,150$669,354$2,599,546
76$3,403,950$1,003,753$634,835$2,783,689
77$3,692,417$994,201$597,365$2,984,949
78$4,008,457$982,331$556,790$3,205,059
79$4,354,824$967,970$512,948$3,445,929
80$4,734,553$950,937$465,668$3,709,668
81$5,150,983$931,038$414,774$3,998,597
82$5,607,795$908,071$360,080$4,315,281
83$6,109,041$881,817$301,394$4,662,545
84$6,659,185$852,048$238,512$5,043,504
85$7,263,145$818,522$171,226$5,461,594
86$7,926,338$780,981$99,314$5,920,606
87$8,654,731$739,156$22,547$6,424,716
88$9,454,896$692,758$0$6,978,533
89$10,334,077$641,484$0$7,591,570
90$11,300,249$585,013$0$8,267,079
91$12,362,202$523,006$0$9,009,571
92$13,529,618$455,104$0$9,825,876
93$14,813,164$380,930$0$10,723,523
94$16,224,593$300,081$0$11,710,813
95$17,776,853$212,137$0$12,796,897
96$19,484,210$116,650$0$13,991,863
97$21,362,382$13,148$0$15,306,830
98$23,428,687$0$0$16,754,059
99$25,702,207$0$0$18,377,523
100$28,203,965$0$0$20,168,494