Can you retire with $5 million?

Yes, you can retire comfortably and happily with this amount to fund your non-working lifestyle. If you plan for a normal retirement at the usual age, $5 million will easily see you through, even if that money never increases again. Let’s play that scenario out: The average reported retirement age, according to Gallup, is now 61.

How much money do you need to fund your retirement?

$5 million will successfully fund your retirement even if you decide to retire at 50, 40 or even 30. If you retire at the average retirement age, $5 million will provide you with over $170,000 annually. Estate planning needs to be carefully considered to ensure your beneficiaries aren’t subject to excess tax after your passing.

Can $5 million make retirement worry-free?

No amount of money can make retirement worry-free, but $5 million might come close. Few Americans manage to save anywhere near that sum in their 401 (k)s and individual retirement accounts.