I’m 59 With $1.3 Million in a 401(k). How Do I Make Sure This Money Lasts the Rest of My Life?

February 23, 2024   Retirement,Investing,Social Security,Taxes
Managing your money properly in retirement is critical for ensuring that it lasts as long as you do. For example, imagine you have $1.3 million in a 401(k) before age 60. While this is a considerable amount, a 4% withdrawal rate would only generate $52,000 per year. You’d also run the risk of running out […] The post I’m 59 With $1.3 Million in a 401(k). How Do I Make Sure This Money Lasts the Rest of My Life? appeared first on SmartReads by SmartAsset.