Can I retire at age 60 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%13.1%
1 years$73,330$72,677$72,040$71,418$70,810$69,897
2 years$36,302$35,626$34,971$34,335$33,719$32,800
3 years$23,961$23,282$22,628$21,999$21,393$20,497
4 years$17,792$17,115$16,468$15,849$15,258$14,391
5 years$14,091$13,418$12,780$12,174$11,599$10,765
6 years$11,625$10,957$10,328$9,735$9,178$8,377
7 years$9,864$9,202$8,582$8,004$7,464$6,697
8 years$8,544$7,887$7,279$6,714$6,192$5,459
9 years$7,517$6,867$6,269$5,719$5,215$4,515
10 years$6,697$6,053$5,466$4,930$4,443$3,776
11 years$6,026$5,389$4,812$4,291$3,821$3,187
12 years$5,467$4,837$4,270$3,763$3,311$2,708
13 years$4,995$4,371$3,815$3,322$2,888$2,315
14 years$4,591$3,973$3,428$2,949$2,531$1,989
15 years$4,240$3,630$3,095$2,630$2,229$1,715
16 years$3,934$3,330$2,806$2,355$1,970$1,484
17 years$3,664$3,067$2,553$2,116$1,746$1,288
18 years$3,425$2,834$2,331$1,907$1,553$1,121
19 years$3,211$2,626$2,134$1,723$1,384$977
20 years$3,018$2,441$1,958$1,561$1,236$853
21 years$2,844$2,273$1,801$1,416$1,106$747
22 years$2,686$2,122$1,660$1,288$992$654
23 years$2,542$1,985$1,533$1,173$890$573
24 years$2,410$1,860$1,418$1,070$800$503
25 years$2,289$1,745$1,313$977$720$442
26 years$2,178$1,640$1,218$893$649$389
27 years$2,075$1,544$1,131$818$585$342
28 years$1,979$1,454$1,051$749$528$301
29 years$1,890$1,372$978$687$476$265
30 years$1,808$1,296$911$630$430$234
31 years$1,730$1,225$850$579$389$206
32 years$1,658$1,159$793$532$352$182
33 years$1,590$1,098$740$489$319$160
34 years$1,527$1,040$691$450$288$141
35 years$1,467$987$646$414$261$125
36 years$1,410$937$605$382$237$110
37 years$1,357$890$566$352$215$97
38 years$1,307$845$530$324$195$86
39 years$1,259$804$497$299$176$76
40 years$1,214$765$465$276$160$67
41 years$1,171$728$436$254$145$59
42 years$1,131$693$409$235$132$52
43 years$1,092$661$384$217$120$46
44 years$1,055$630$361$200$108$41
45 years$1,020$600$339$185$98$36
46 years$987$573$318$171$89$32
47 years$955$547$299$158$81$28
48 years$924$522$281$146$74$25
49 years$895$498$264$135$67$22
50 years$867$476$248$124$61$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $888,000, adding $6,367 every year, while hoping to spend $22,784 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: 38/41/21 Blend
59$888,000$888,000$888,000$888,000
60$985,144$938,080$924,316$1,016,173
61$1,061,386$959,803$931,038$1,060,933
62$1,144,642$981,828$937,222$1,106,662
63$1,235,602$1,004,144$942,826$1,155,619
64$1,335,028$1,026,742$947,805$1,208,107
65$1,443,757$1,049,608$952,112$1,264,463
66$1,562,712$1,072,731$955,700$1,325,057
67$1,692,908$1,096,094$958,516$1,390,297
68$1,835,465$1,119,683$960,506$1,460,632
69$1,991,614$1,143,479$961,614$1,536,558
70$2,162,711$1,167,462$961,781$1,618,622
71$2,350,251$1,191,611$960,944$1,707,427
72$2,555,878$1,215,902$959,038$1,803,638
73$2,781,406$1,240,309$955,993$1,907,987
74$3,028,829$1,264,804$951,739$2,021,283
75$3,300,346$1,289,356$946,199$2,144,416
76$3,598,380$1,313,933$939,295$2,278,370
77$3,925,597$1,338,498$930,944$2,424,228
78$4,284,936$1,363,013$921,058$2,583,186
79$4,679,634$1,387,435$909,548$2,756,560
80$5,113,256$1,411,719$896,318$2,945,805
81$5,589,731$1,435,816$881,268$3,152,522
82$6,113,387$1,459,674$864,293$3,378,479
83$6,688,991$1,483,237$845,286$3,625,624
84$7,321,796$1,506,443$824,131$3,896,106
85$8,017,589$1,529,229$800,709$4,192,296
86$8,782,745$1,551,523$774,894$4,516,804
87$9,624,289$1,573,251$746,557$4,872,513
88$10,549,960$1,594,334$715,561$5,262,600
89$11,568,286$1,614,686$681,761$5,690,568
90$12,688,660$1,634,215$645,010$6,160,279
91$13,921,436$1,652,824$605,150$6,675,992
92$15,278,019$1,670,409$562,019$7,242,405
93$16,770,976$1,686,858$515,446$7,864,693
94$18,414,155$1,702,053$465,252$8,548,568
95$20,222,812$1,715,868$411,252$9,300,323
96$22,213,761$1,728,167$353,251$10,126,899
97$24,405,526$1,738,808$291,046$11,035,947
98$26,818,518$1,747,639$224,425$12,035,904
99$29,475,230$1,754,496$153,166$13,136,071
100$32,400,445$1,759,208$77,038$14,346,702