Is $500,000 Enough? What Retirement Really Looks Like on a Half-Million-Dollar Nest Egg.
What you're likely to find is that the number itself matters less than the plan behind it.
Overview
Whether you're aiming to save $500,000 or it's already in your retirement account, you may be wondering just how far half a million dollars will take you these days. Here, we'll look at what you can expect if you retire with $500,000, as well as steps you can take to make it last.
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The 4% rule is one of many retirement withdrawal strategies. The rule suggests you can withdraw 4% of your retirement savings the first year each year and increase it by the rate of inflation annually -- without running out of money for 30 years.
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.