How Long Will $1 Million Last In Retirement?

(Paul Katzeff, Investors Business Daily) Congratulations! Your retirement planning paid off. You built a $1 million retirement nest egg. But how long will $1 million last in retirement?

The goal for most retirees is simple: Don’t run out of money. A whopping 61% of Americans admit they are more afraid of outliving their money than they are of dying, according to an Allianz Life survey.

So if you’ve worked hard at retirement planning and saving, how do you keep your $1 million from expiring before you do?

Let’s say you’re 65 years old and earn $115,000 a year.

The simple arithmetic answer to the how-long-will-it-last retirement planning question is that your savings would last less than nine years. That’s how many years in a row you can subtract $115,000 from $1 million.

And less than nine years is not very long if you’re healthy and have a normal life expectancy.

The average American’s life expectancy is now 78.6 years, as of 2017, according to the U.S. Centers for Disease Control (CDC). But for a 65 year old, it’s closer to 20 additional years, according to CDC data.

If you only aim to replace 90% of the non-Social Security portion of your pre-retirement annual income from savings, your portfolio will last more than 22 years if your rate of return averages 8%. [Read more…]


Soros-Funded, Soft-on-Crime DAs Face Recalls

(Joshua Paladino, Headline USA) Philadelphia District Attorney Larry Krasner won the 2017 election on an anti-cop, pro-criminal platform, and murders have climbed 29...

White House Issuing Reports on States’ Infrastructure Needs

(Associated Press) The Biden White House is amplifying the push for its $2.3 trillion infrastructure package with the release of state-by-state breakdowns...

Brooklyn Center Looting, Rioting Sees Several Businesses ‘Completely Destroyed’

(Newsweek) Looting and rioting erupted in Minnesota's Brooklyn Center area after an officer shot a man during a traffic stop in Brooklyn Center,...

9 Money Numbers You Need to Know

(Liz Weston, NerdWallet) Your doctor needs to know certain numbers to judge your physical health, such as your weight, your blood pressure...

Who Is Experiencing the Most (and Least) Price Inflation?

(Economic Policy Journal) According to Bloomberg, low-income Americans are getting hit hardest by price increases as the economy starts to open up.