Tag: wealth

Whether you can retire on $500,000 depends on myriad factors, including your budget, financial options and ability to be flexible.Taking time to map out a budget and consider costs can help you avoid financial shortcomings later. You might discover you have enough to retire, or you could realize that you’ll want to accumulate more savings by working longer or taking on an extra job. Your investment strategy could also impact your overall retirement balance during the coming decades.When considering how to retire on $500,000, use these guidelines: Know the average retirement savings. Research your Social Security income. Understand the 4% rule. Set up your retirement budget. Review your financial options. Stay open-minded and flexible to change. Know the Average Retirement SavingsThe...