How Long Will $500,000 Last in Retirement? Key Factors to Consider

Discover how long $500,000 can sustain you in retirement, considering lifestyle, expenses, and investment returns.

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How long $500,000 lasts in retirement depends on various factors like lifestyle, location, investment returns, and life expectancy. Assuming an annual withdrawal rate of 4%, the portfolio could provide $20,000 per year, potentially lasting 25 years. Adjusting expenses and considering other income sources like pensions and Social Security can extend this duration. Consult a financial advisor for personalized guidance.

FAQs & Answers

  1. What is a safe withdrawal rate in retirement? A common guideline for a safe withdrawal rate is 4% per year, but it may vary based on individual circumstances and market conditions.
  2. Can I live off interest from $500,000 in retirement? Living off interest is possible but depends on interest rates, investment returns, and your annual expenses. Proper planning is essential.
  3. What factors affect how long my savings will last in retirement? Factors include your lifestyle, location, investment returns, life expectancy, and additional income sources like pensions or Social Security.

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