Can I Retire at 60 with $500K? [YES! See Examples of How]

Now that time has come and possibly all of your hard work has finally paid off by saving up $500K in savings. You ask yourself, “Can I retire at 60 with $500K?”

The answer to this question depends entirely on where you live, your lifestyle, types of investments, other income sources and whether you want to work part-time in retirement.

Can I Retire at 60 with $500,000?

When deciding how much you need to live on in retirement, you’ll need to consider a number of factors unique to your situation and ideal retirement: -How much money you spend on housing every month - How much money you spend on food every month - How much you plan to spend on entertainment

→ How Much Money Do I Need to Live On?

Social Security is the single largest source of retirement income for millions of Americans. Many depend on this income to pay their bills in retirement, so knowing how much you can expect plays a major role in how you can prepare for retirement.

→ Social Security Payments:  How Much Can I Expect?

When you’re thinking about how long you’ll need money in your retirement, you’ll need to consider the investment assumptions around the assets you’ll have when retiring.

→ Investment Assumptions Around Assets Needed to Retire on $500k

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