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I'm 65 and set to retire with $500,000 in the bank. How long will that last?

The article on MSN discusses the financial planning of a 65-year-old individual with $500,000 saved for retirement. It explores how long this sum might last based on various factors including withdrawal rates, investment returns, inflation, and lifestyle choices. The article mentions the common 4% withdrawal rule, suggesting that withdrawing 4% annually could make the savings last approximately 30 years, assuming a balanced investment portfolio. However, it also considers adjustments for inflation, potential healthcare costs, and the possibility of lower investment returns, which could shorten the longevity of the funds. Additionally, it touches on the importance of Social Security benefits, potential part-time work, and the need for a flexible retirement plan to adapt to changing economic conditions or personal circumstances. The piece emphasizes the necessity of careful planning and possibly consulting with a financial advisor to tailor a strategy that fits individual needs and risk tolerance.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/personalfinance/i-m-65-and-set-to-retire-with-500-000-in-the-bank-how-long-will-that-last/ar-AA1zhxNP ]