Can I Retire on $40,000 a Year at 39 with $1 Million Saved?
2025-01-28
AOL
Achieving a frugal lifestyle with a decent retirement income is a common goal, but can it be done on $40,000 a year? With $1 million saved and no dependents, the answer depends on various factors, including investment returns, living costs, and personal expenses. A sustainable retirement plan requires careful consideration of financial independence, budgeting, and potentially, a side hustle to supplement income. Ultimately, a thorough financial assessment is necessary to determine if a $40,000 annual income can support a comfortable retirement lifestyle, even with a significant savings cushion. Popular keywords like 'frugal living' and 'financial independence' are relevant here.
