For many Americans, retirement isn’t just about getting by — it’s about living comfortably and maintaining a middle-class lifestyle. Earning $12,000 a month ($144,000 a year) in passive income, for instance, could make that possible, covering everyday expenses while still allowing for travel, dining out, and other luxuries. But reaching that level of income in retirement requires more than just a large nest egg. Your savings must also be resilient enough to handle inflation, market swings, and the risk ...

SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. I currently have $680,000 in a 401(k), $150,000 in savings and a pension of $1,600 per month. Can I retire at age 62? – Hieu This is a good question and the answer depends primarily on what your expenses are and how much you will collect from Social Security. What we can do here is run the numbers on a few different scenarios to give you a sense of how much income you can expect to have and the level of mo ...

Can I maintain my current lifestyle in retirement? Does the 4.7% withdrawal rate apply or can I spend higher in the earlier years and lower in my later retirement years? Should I try for rental income now? When should I draw Social Security?My returns on my assets are fairly robust, with a compound annual growth rate of about 17%-18%. That will fluctuate over the long term.My current annual income is around $350,000-$400,000. My spending is relatively high at about $20,000 per month. This includes some shor ...

SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. I have $800,000 sitting in a money market account because I don’t know what else to do with it. My hope was that I could put it in something that can yield around 4-5% growth. I also have $900,000 in my 401(k) that is sitting in minimal-risk accounts with Vanguard. I will be turning 62 later this year and cannot afford to lose or go back to what happened to me in the early 2000s. - Kevin I completely under ...