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According to Investopedia, the feasibility of retiring on $500,000 at age 60 depends heavily on lifestyle, budget, and other income sources. While half a million dollars is a significant sum, it translates to a modest annual income, requiring careful planning and strategy to make it last throughout retirement.
According to the U.S. Census Bureau, the average retirement savings balance is far below what is needed for a secure retirement, making the question "can you live off the interest of $500,000?" highly relevant for many nearing their golden years.
According to a 2025 study, the average American believes they need over $1.2 million to retire comfortably. This raises the question for many with lower savings: **can I retire with 500k at 55?** While challenging, it is not impossible and depends heavily on your lifestyle and strategy.
According to the U.S. Census Bureau, life expectancy is increasing, meaning retirement could last 25 to 30 years or more. Understanding how long does 500k last after 60 is crucial for planning a secure and comfortable retirement that outlasts your lifespan. The longevity of your savings is not a fixed number but a variable based on multiple factors.
According to a Prudential study, the median retirement savings for a 55-year-old is just $50,000, making a $500,000 nest egg appear substantial. However, whether **$500,000 is enough to retire at 55** is a complex question with no single answer, as it depends heavily on your lifestyle, location, and expenses. A successful early retirement on this amount requires aggressive budgeting, strategic investing, and realistic expectations about your potential 30+ year retirement timeline.
For those with less than $500,000, some research suggests a quarter of it may last for 20 years, depending on spending habits. This surprising statistic opens the door to the question: **Can I retire at 60 with 500k?** The answer is not simple, but it is achievable with meticulous planning and lifestyle adjustments.
While many financial experts suggest a much larger nest egg for retirement, the median retirement savings for Americans aged 65-74 is $200,000. The question, **is $500,000 enough to retire at age 65?**, requires a careful, personalized look at your finances, lifestyle expectations, and income streams.
