How Far Will $500,000 Last in Retirement? A step-by-step guide to create your retirement plan was created by Family Wealth Advisor Christopher Jardine, CFP®, to help pre-retirees in Canada answer the age-old question, “How much will I need for retirement?”
At first glance, $500,000 seems like a reasonable nest egg—half a million dollars is a tidy sum—but when you actually do the math, you might be surprised how quickly you could burn through it.
A good way to start is by using the 8-step checklist included in this guide to create a picture of your financial well-being.
Understanding some potential risks and considering them in the planning stage can help you mitigate unnecessary risk and ensure it’s properly managed.
6 tips for those who are concerned that $500,000 won’t be enough for their retirement.
