Can I retire at 60 with $1 million dollars?
Retiring at 60 with $500,000 is possible, though it requires disciplined planning. This amount can support an annual withdrawal of approximately $30,000 to $34,000 for about 25 years. Success depends on your lifestyle; if your expenses are modest—around $2,500 per month—this can be a sustainable foundation, especially when supplemented by other income sources like Social Security, which you can begin claiming at age 62 at a reduced rate.
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