Can I Retire on $40,000 a Year with $1 Million Saved? Expert Insights for a Frugal Lifestyle
2025-01-28
AOL
Achieving a frugal lifestyle with $1 million saved and planning to retire on $40,000 a year may seem feasible, but it's crucial to consider factors beyond your bank balance and marital status. With careful financial planning and investment strategies, such as maximizing tax-advantaged accounts and living below your means, you can increase your chances of a successful retirement. However, it's essential to assess your expenses, inflation, and healthcare costs to determine if $40,000 a year will be sufficient for a comfortable retirement, exploring options like early retirement planning and sustainable investing.
