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I'm 70 With $1 Million in an IRA: What's the Smartest Way to Stretch My Savings?

SmartAsset
Summary
Nutrition label

75% Informative

The keys to making your $1 million IRA last for the rest of your life are: Spend conservatively from your IRA.

A 4% annual withdrawal rate can improve chances your savings won’t run out.

Invest appropriately to generate solid returns while controlling risk.

Consider an asset allocation of 60% stocks and 40% bonds.

SmartAsset ’s free tool matches you with financial advisor(s) and you can interview your advisor matches at no cost.

An emergency fund should be liquid -- in an account that isn't at risk of fluctuation like the stock market.

A high-interest account allows you to earn compound interest.

VR Score

64

Informative language

55

Neutral language

59

Article tone

informal

Language

English

Language complexity

51

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

long-living

External references

25

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