Is 500,000 enough to retire on?
Half a million pays roughly 20,000 a year at a 4% withdrawal rate, or about 1,667 a month before tax. Whether that is enough is a question about your spending, your other income and your housing costs - the calculator below puts your own numbers against it.
Compare top retirement accounts
We explain exactly what to compare before you open anything - costs, protection and the traps.
What 500k actually pays
At 4% it is around 1,667 a month. At a more cautious 3.5% it is about 1,458. Both figures are before tax, and both assume the pot is invested rather than sitting in cash.
Add any state or workplace pension on top. For many households that combination is the difference between 500,000 being thin and being sufficient.
Housing is the swing factor
A retiree who owns outright in a modest area and one who rents in a city can face a spending difference larger than the entire withdrawal from a 500,000 pot. Settle the housing question before judging the number.
Run the calculator with your genuine target monthly income. If the readiness score comes out short, the insight panel names the monthly contribution that closes it.
Frequently asked questions
How long will 500k last in retirement?
Withdrawn at 4% a year and invested sensibly, it is designed to last around thirty years. Drawn at 8% a year it would be gone in roughly fifteen, sooner if markets fall early.
Can I retire at 55 with 500k?
It would need annual spending near 17,500 at a cautious 3.5% rate, which is tight in most high-cost countries without other income.
Does 500k include my house?
No. Only invested assets that can produce income should count towards the withdrawal calculation.
What if I keep working part-time?
Even modest earned income reduces withdrawals sharply in the early years, which is exactly when a portfolio is most vulnerable to a market fall.
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