How Long Can You Live Comfortably on $1 Million?

Discover how lifestyle choices impact your financial longevity with $1 million.

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$1 million can last varying lengths of time depending on your lifestyle and expenses. Ideally, assuming modest annual expenses of around $50,000, it could last 20 years. Reinvestment and inflation can affect this, so always consult with a financial advisor for personalized advice.

FAQs & Answers

  1. What is a reasonable annual expense for living off $1 million? A reasonable annual expense is around $50,000, which could last up to 20 years with that budget.
  2. How does inflation affect my savings? Inflation can decrease the purchasing power of your savings over time, which is why reinvestment and financial planning are crucial.
  3. Should I consult a financial advisor? Yes, consulting a financial advisor can provide personalized advice tailored to your lifestyle and financial goals.

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