How long will $800,000 last in retirement? | Ep.27

In this episode, we dive into the big question many retirees face: How long will $800,000 last in retirement? We'll start by discussing the popular 4% rule, which suggests you could safely withdraw $32,000 per year from an $800,000 nest egg, allowing your money to last for around 30 years. While this strategy balances withdrawals with investment growth, we’ll explore the risks you should consider, such as market volatility and inflation, which could shorten the lifespan of your savings.

But what if you're looking for more financial security in retirement? We’ll explore the benefits of a Guaranteed Lifetime Withdrawal Benefit (GLWB) through a fixed index annuity. With this approach, you could potentially secure annual guaranteed withdrawals ranging from $55,000 to $125,000, depending on your contract. Unlike the 4% rule, a GLWB ensures your income continues for life, providing peace of mind that you won’t outlive your savings.

Tune in as we compare these retirement strategies and help you figure out which one might work best for you. Plus, learn how to calculate your potential annuity income using our Annuity Calculator.

If you’re nearing retirement or just planning ahead, this episode is packed with valuable insights!