How long will $600,000 last in retirement?

Описание: When planning for retirement, many people use the 4% rule as a simple guideline. According to this rule, you could withdraw 4% of your retirement savings annually, which means a $600,000 portfolio would provide about $24,000 per year ($600,000 × 0.04). This approach is designed to make your money last for 25 to 30 years. However, it's not without risks, as your income is tied to market performance, and there’s always the possibility that you could run out of money.

Alternatively, you could consider using a Guaranteed Lifetime Withdrawal Benefit (GLWB) through an annuity, which offers a different approach. With a GLWB, your income is guaranteed for life, regardless of market fluctuations. Depending on the annuity terms and your age, annual withdrawals could range from $40,000 to $95,000. This strategy provides a reliable and stable income throughout retirement, and in many cases, any remaining balance can be passed on to your beneficiaries.

For a more accurate picture of how long your $600,000 can last, or to explore your annuity options, use our Annuity Calculator for a customized estimate.

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