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Is $2.5 Million Really Enough to Retire?

While it may seem as if it should be no problem to retire at age 65 if you've saved $2.5 million, a global pandemic, fluctuating financial markets and historically high inflation have shown that nothing in life may be certain.

Based on a conventional 4% withdrawal rate, a retirement nest egg of $2.5 million could potentially produce an annual income of $100,000 for as long as you are likely to live. However, this model does not include a number of other factors, such as high inflation, market downturns, unexpected healthcare costs or a longer-than-projected lifespan. Learn more here.

That's why we feel it can be important to speak with a financial advisor to help make sure your investments and retirement plan will be able to support your retirement lifestyle.

In fact, SmartAsset's latest proprietary model reveals that working with a financial advisor could potentially add from 36% to 212% more dollar value to investors' portfolios over a lifetime, depending on multiple unique, individual factors.¹

With thousands of advisors in the US, it can seem daunting to choose one. SmartAsset's no-cost tool can help you find and compare vetted financial advisors serving your area, each legally bound to work in your best interest.

It's never too late to plan to work toward a comfortable retirement. Explore your advisor matches today.

Try SmartAsset's Financial Advisor Matching Tool

Hire a pro. Take this free quiz to find and compare vetted financial advisors who serve your area.

Get Started

The information contained in this article is general and not specific to any individual's situation. The SmartAsset quiz matches you with up to 3 financial advisors to which you can compare and decide which to work with.

This is not an offer to buy or sell any security or interest. All investing involves risk, including loss of principal. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). There are no guarantees that working with an adviser will yield positive returns. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest.

SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. SmartAsset's services are limited to referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matching platform based on information gathered from users through our online questionnaire. SmartAsset receives compensation from Advisers for our services. SmartAsset does not review the ongoing performance of any Adviser, participate in the management of any user's account by an Adviser or provide advice regarding specific investments. We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors.

SmartAsset.com is not intended to provide legal advice, tax advice, accounting advice or financial advice (Other than referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States). SmartAsset is not a financial planner, broker or tax adviser. The Service is intended only to assist you in your understanding of financial organization and decision-making and is broad in scope. Your personal financial situation is unique, and any information and investing strategies obtained through SmartAsset.com may not be appropriate for your situation. Accordingly, before making any final decisions or implementing any financial strategy, you should consider obtaining additional information and advice from your accountant or other financial advisers who are fully aware of your individual circumstances.

Sources:

1. "The Value of a Financial Advisor: What's It Really Worth?" SmartAsset (Nov. 2024)

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