Can I retire at age 59 with 880,000?

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 $880,000?

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$72,670$72,022$71,391$70,774$70,172$68,448
2 years$35,975$35,305$34,656$34,026$33,415$31,689
3 years$23,745$23,072$22,425$21,801$21,200$19,525
4 years$17,631$16,961$16,319$15,706$15,120$13,510
5 years$13,964$13,297$12,664$12,064$11,494$9,953
6 years$11,520$10,858$10,235$9,648$9,095$7,624
7 years$9,775$9,119$8,505$7,932$7,397$5,997
8 years$8,467$7,816$7,213$6,654$6,136$4,807
9 years$7,450$6,806$6,213$5,668$5,168$3,907
10 years$6,637$5,999$5,416$4,886$4,403$3,210
11 years$5,972$5,340$4,768$4,252$3,787$2,660
12 years$5,418$4,793$4,232$3,729$3,281$2,219
13 years$4,950$4,332$3,781$3,293$2,862$1,861
14 years$4,549$3,937$3,397$2,923$2,508$1,567
15 years$4,202$3,597$3,067$2,607$2,209$1,325
16 years$3,899$3,300$2,781$2,334$1,952$1,123
17 years$3,631$3,039$2,530$2,097$1,731$955
18 years$3,394$2,808$2,310$1,890$1,539$813
19 years$3,182$2,603$2,115$1,708$1,372$694
20 years$2,991$2,419$1,941$1,547$1,225$593
21 years$2,818$2,253$1,785$1,404$1,096$508
22 years$2,662$2,103$1,645$1,276$983$435
23 years$2,519$1,967$1,519$1,162$882$373
24 years$2,389$1,843$1,405$1,060$793$320
25 years$2,269$1,729$1,301$968$714$275
26 years$2,158$1,625$1,207$885$643$236
27 years$2,056$1,530$1,121$810$579$203
28 years$1,961$1,441$1,042$742$523$174
29 years$1,873$1,360$969$681$472$150
30 years$1,791$1,284$903$625$427$129
31 years$1,715$1,214$842$574$386$111
32 years$1,643$1,149$785$527$349$96
33 years$1,576$1,088$733$485$316$82
34 years$1,513$1,031$685$446$286$71
35 years$1,454$978$641$411$259$61
36 years$1,398$928$599$378$235$53
37 years$1,345$882$561$349$213$45
38 years$1,295$838$525$321$193$39
39 years$1,248$797$492$296$175$34
40 years$1,203$758$461$273$159$29
41 years$1,161$721$433$252$144$25
42 years$1,120$687$406$233$131$22
43 years$1,082$655$381$215$118$19
44 years$1,046$624$357$198$108$16
45 years$1,011$595$336$183$98$14
46 years$978$568$315$169$89$12
47 years$946$542$296$156$80$10
48 years$916$517$278$144$73$9
49 years$887$494$262$133$66$8
50 years$859$472$246$123$60$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $880,000, adding $6,632 every year, while hoping to spend $36,403 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: 47/46/7 Blend
58$880,000$880,000$880,000$880,000
59$976,601$929,961$916,321$1,020,357
60$1,037,482$936,796$908,285$1,057,926
61$1,103,352$942,747$898,760$1,094,314
62$1,174,683$947,730$887,657$1,132,952
63$1,251,992$951,660$874,885$1,174,060
64$1,335,846$954,443$860,345$1,217,880
65$1,426,873$955,981$843,937$1,264,682
66$1,525,760$956,170$825,555$1,314,765
67$1,633,264$954,899$805,087$1,368,458
68$1,750,217$952,049$782,418$1,426,128
69$1,877,536$947,496$757,425$1,488,180
70$2,016,228$941,107$729,983$1,555,064
71$2,167,403$932,741$699,957$1,627,276
72$2,332,282$922,249$667,210$1,705,366
73$2,512,209$909,473$631,595$1,789,945
74$2,708,662$894,245$592,961$1,881,685
75$2,923,269$876,387$551,150$1,981,335
76$3,157,824$855,712$505,995$2,089,718
77$3,414,300$832,019$457,323$2,207,749
78$3,694,869$805,099$404,954$2,336,439
79$4,001,924$774,727$348,698$2,476,904
80$4,338,099$740,667$288,358$2,630,383
81$4,706,295$702,670$223,728$2,798,241
82$5,109,707$660,471$154,593$2,981,990
83$5,551,854$613,790$80,728$3,183,302
84$6,036,609$562,332$1,899$3,404,024
85$6,568,241$505,784$0$3,646,198
86$7,151,450$443,817$0$3,918,223
87$7,791,415$376,080$0$4,217,002
88$8,493,836$302,205$0$4,545,168
89$9,264,997$221,803$0$4,905,787
90$10,111,818$134,462$0$5,302,245
91$11,041,920$39,748$0$5,738,281
92$12,063,702$0$0$6,218,021
93$13,186,414$0$0$6,777,812
94$14,420,248$0$0$7,415,227
95$15,776,430$0$0$8,115,960
96$17,267,331$0$0$8,886,416
97$18,906,577$0$0$9,733,650
98$20,709,182$0$0$10,665,439
99$22,691,688$0$0$11,690,347
100$24,872,321$0$0$12,817,812