Have $500,000 in Retirement Savings? Here’s How Much You Could Spend per Year

Full quote provided:

“We're big proponents of the 4% rule. According to research, a well-managed portfolio can afford to provide 4% for withdrawal nearly indefinitely. The withdrawals would be replenished by the returns expected from a fairly conservative investment strategy. A $500,000 portfolio could thus distribute $20,000 per year. This amount might not be enough for a retiree, so it's important to factor in social security, pensions, and home ownership into any financial plan."