Can We Live on $90k Per Year With $1M Saved and Social Security at 65?

Core Insights - The article discusses the financial considerations for a couple planning to retire, focusing on whether they can sustain an annual expenditure of $90,000 with their current savings and Social Security benefits Group 1: Financial Planning Considerations - The annual spending expectation of $90,000 may be challenging, and individual circumstances will significantly influence this assessment [1] - It is crucial to determine if the $90,000 includes taxes or is the amount planned for spending after taxes, as this affects the required withdrawals from savings [2] - The type of accounts holding savings (tax-deferred, Roth, or taxable) impacts tax liabilities upon withdrawal, with tax-deferred accounts requiring careful tax planning [3] Group 2: Investment Strategy and Risk Tolerance - Investment strategies should align with individual risk tolerance, as overly conservative or aggressive portfolios can strain savings [5] - A balanced investment approach, such as the historically popular 60/40 portfolio, can provide growth while managing volatility, which is essential for long-term retirement sustainability [6]