Can You Retire with $1M?

The answer can depend on some important factors such as your retirement
age, life expectancy, and the kind of lifestyle you plan to live. Find out a few
additional factors to consider as well as 3 hypothetical examples of how long
$1M could last in retirement.

A fiduciary financial advisor can assess your retirement plan and help you
evaluate your investments, optimize a tax strategy to help lower your liability,
and identify other ways to help you achieve your retirement goals. Research
suggests people who work with a financial advisor could end up with about
15% more money to spend in retirement.¹

Consulting a fiduciary advisor can be a great first step to helping make sure
you're on track to meet your financial goals, regardless of how much you
have saved.

Try SmartAsset's no-cost tool to get matched with up to 3 financial advisors
serving your area, each legally bound to work in your best interest. It's never
too late to plan to work toward a comfortable retirement. Learn more.

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The SmartAsset quiz matches you with up to 3 financial advisors to which you can compare and decide which to work with. You can consult with a financial advisor about your finances.

This is not an offer to buy or sell any security or interest. All investing involves risk, including loss of principal. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). There are no guarantees that working with an adviser will yield positive returns. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest.

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(Other than referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a
regulatory body in the United States). SmartAsset is not a financial planner, broker or tax adviser. The Service is intended only to assist you in your understanding of financial organization and decision-making and is broad in scope. Your personal financial situation is unique, and any information and investing strategies obtained through SmartAsset.com may not be appropriate for your situation. Accordingly, before making any final decisions or implementing any financial strategy, you should consider obtaining additional information and advice from your accountant or other financial advisers who are fully aware of your individual
circumstances.

Sources: 1. "Journal of Retirement Study Winter" (2020). The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in the Journal of Retirement study.