How Long Will $1 Million Last in Retirement? (Full Table)

Years by withdrawal and return

How long $1,000,000 lasts with the same withdrawal every year in today's dollars, taken at the start of the year, and a steady return after inflation:

Withdrawal a year	0% real	2% real	3% real	4% real	5% real	6% real
$30,000 (3%)	33.3 years	53.5 years	100+ years	Indefinitely	Indefinitely	Indefinitely
$40,000 (4%)	25.0 years	34.0 years	44.1 years	83.1 years	Indefinitely	Indefinitely
$50,000 (5%)	20.0 years	25.1 years	29.6 years	37.4 years	62.4 years	Indefinitely
$60,000 (6%)	16.7 years	20.0 years	22.5 years	26.1 years	32.3 years	49.3 years
$70,000 (7%)	14.3 years	16.6 years	18.2 years	20.3 years	23.4 years	28.4 years
$80,000 (8%)	12.5 years	14.2 years	15.3 years	16.7 years	18.5 years	21.1 years
$100,000 (10%)	10.0 years	11.0 years	11.6 years	12.4 years	13.3 years	14.3 years

"Indefinitely" means the return pays for the withdrawal and the balance never runs out. With no growth at all the answer is simple division: $1,000,000 ÷ $40,000 = 25 years.

$500,000 and $2 million

Only the withdrawal as a share of the portfolio matters, so the same years apply when both scale together. At 3% after inflation:

Withdrawal rate	From $500,000	From $1,000,000	From $2,000,000	Years
3%	$15,000	$30,000	$60,000	100+ years
4%	$20,000	$40,000	$80,000	44.1 years
5%	$25,000	$50,000	$100,000	29.6 years
6%	$30,000	$60,000	$120,000	22.5 years

What changes the answer

The return. At $40,000 a year, every point of return after inflation adds years: 34.0 years at 2%, 44.1 years at 3%, 83.1 years at 4%.
Fees. A 1% yearly fee comes out of the return, so 3% becomes 2%: 44.1 years becomes 34.0 years.
Other income. Social Security or a pension that starts later lowers the withdrawal from then on; the years in the table assume the portfolio pays everything.
The order of returns. A fall early in retirement shortens the result even when the average is the same; see the 4% rule explained.

Two bad years at the start

The same $1,000,000, with the first two years falling 20% and 10% and every later year earning a steady 3% after inflation:

Withdrawal a year	Steady 3%	Two bad years first
$30,000	100+ years	37.7 years
$40,000	44.1 years	23.9 years
$50,000	29.6 years	17.8 years
$60,000	22.5 years	14.2 years

This is a stress test chosen to show the effect, not a forecast or a historical period. The how long will my money last calculator runs it with your numbers.

These figures are illustrations worked out from stated assumptions, not forecasts. Real returns vary from year to year, and taxes, fees and the order of good and bad years change the outcome. See the disclaimer.

Questions people ask

Can you live off the interest of $1 million dollars?

Living off the returns means taking no more than the portfolio earns after inflation, so the balance keeps its value. With withdrawals at the start of each year that is $29,126 a year at a 3% real return and $38,462 at 4%. Any year with a lower return dips into the principal.

Can a couple retire at 60 with 1 million dollars?

That depends on what the couple spends. A retirement from 60 may need to last 30 to 35 years, and Morningstar's latest starting rates for those lengths are 3.9% and 3.5%: on $1,000,000, a first-year withdrawal of $35,000 to $39,000. Social Security, which can start at 62 and is full at 67 for anyone born in 1960 or later, adds to that.

Try your numbers

The how long will my money last calculator works it out for your portfolio, withdrawal and return, with the bad-start test. The 4% rule explained covers safe withdrawal rates by length of retirement.

Sources

William P. Bengen, "Determining Withdrawal Rates Using Historical Data", Journal of Financial Planning, October 1994.
Amy C. Arnott, "How Much Can You Safely Withdraw If You Retire Early?", Morningstar, September 15, 2026 (data as of September 30, 2025).
Social Security Administration, Starting Your Retirement Benefits Early.

Last reviewed by Asier Fernández, editor, on October 18, 2026. Educational information only, not financial advice. How we calculate

How long will $1 million last in retirement?