58 years old. have1.3 million in retirment s and p 500 funds. will recieve 2000 a month pension when 60 and 2000 a month when 62 how much can I withdraw a month in order for my savings to last until 100 years old

To calculate a sustainable monthly withdrawal from your retirement savings, I will use the following assumptions:

1. **Retirement funds: $1.3 million** in the S&P 500.
2. **Pension payments**:
   - $2,000 per month starting at age 60.
   - An additional $2,000 per month starting at age 62.
3. **Time horizon**: You want the savings to last until age **100** (a 42-year span, since you're 58).
4. **Investment return assumption**: We'll assume a **5% annual return** on your retirement savings, a common conservative estimate based on historical S&P 500 returns after inflation. (This can be adjusted if you expect higher/lower returns.)
5. **Inflation**: I'll also assume **2% inflation**, which impacts the purchasing power of money.

Let's calculate a sustainable monthly withdrawal considering these factors. I'll project how much you can withdraw while ensuring your $1.3 million lasts until age 100.

I'll calculate this for you.Based on the assumptions and calculations:

1. **From now until age 60** (before any pension): You can sustainably withdraw **$6,176 per month**.
2. **From age 60 to 62** (with a $2,000 monthly pension): You can withdraw **$30,268 per year** in addition to the pension.
3. **From age 62 to 100** (with two $2,000 monthly pensions): You can withdraw **$54,374 per year** in addition to both pensions.

This strategy ensures that your $1.3 million will last until age 100, assuming a 5% annual return.

Would you like more details on the assumptions, or do you have any questions?

Here are 5 related questions to consider:
1. What if the investment return rate changes (e.g., lower returns)?
2. How does inflation impact the withdrawals over time?
3. How much of a buffer do you want to maintain for unexpected expenses?
4. Are you considering adjustments based on varying lifestyle costs in retirement?
5. What about withdrawing more or less in the first few years of retirement?

**Tip**: Regularly reviewing your investments is crucial to ensure you stay on track with your withdrawal strategy.

58 years old. Have $1.3 million in retirement S&P 500 funds. Will receive $2000 a month pension when 60 and $2000 a month when 62. How much can I withdraw a month in order for my savings to last until 100 years old?

Learn how to calculate sustainable monthly withdrawals for a $1.3 million S&P 500 fund with pension income starting at age 60. We use compound interest and annuity formulas to project how much you can withdraw while ensuring your savings last until age 100.

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