How Long Can $1,000,000 Support You After Retirement?

Discover how long $1,000,000 can last post-retirement based on various factors like spending and investment returns.

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How long $1,000,000 lasts after retirement depends on various factors like annual expenses, lifestyle, and investment returns. If you withdraw $40,000 annually (a 4% withdrawal rate), it could last 25 years. Adjusting the rate or expenditures affects the duration significantly.

FAQs & Answers

  1. What is a safe withdrawal rate for retirement? A commonly recommended safe withdrawal rate is 4%, which helps ensure your savings last through retirement.
  2. How can I stretch my retirement savings? You can stretch your retirement savings by controlling your expenses, considering part-time work, and optimizing your investment strategy.
  3. What factors affect how long my savings will last? Factors include your annual withdrawal rate, lifestyle choices, longevity, and market performance of your investments.
  4. Is $1,000,000 enough to retire? Whether $1,000,000 is enough to retire depends on your desired lifestyle, location, and other income sources you may have.

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For more insights on retirement planning, check out our videos on creating a sustainable budget and maximizing your investment portfolio.

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