My parents are in their 60s with $500k saved for retirement and will get $5k per month from Social Security - how much can they spend every month?
Briefly

from 24/7 Wall St.1 month ago
The typical near-retiree doesn't have a lot saved; with median retirement savings at $185,000, they must manage their withdrawals carefully.
24/7 Wall St.https://247wallst.com/personal-finance/2025/01/20/my-parents-are-in-their-60s-with-500k-saved-for-retirement-and-will-get-5k-per-month-from-social-security-how-much-can-they-spend-every-month/
A couple in their early 60s with $500,000 in retirement savings and over $5,000 monthly from Social Security may not need to draw from their savings.
24/7 Wall St.https://247wallst.com/personal-finance/2025/01/20/my-parents-are-in-their-60s-with-500k-saved-for-retirement-and-will-get-5k-per-month-from-social-security-how-much-can-they-spend-every-month/
Read at 24/7 Wall St.
#retirement-planning #social-security #financial-strategy #savings-management #early-retirement
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