Reported about 1 year ago
For a 65-year-old with $1 million in a 401(k) and expecting $2,500 per month in Social Security payments, the possibility of retiring depends on lifestyle standards. Generally, this combination can generate a comfortable income across most areas in the U.S. An overview of factors such as longevity risk, investment options like cash, bonds, stocks, and annuities, as well as spending needs in retirement, emphasizes the importance of careful planning to ensure financial stability in retirement.
Source: YAHOO