Can you retire at 67 with $1M?
With $1M at age 67, you can safely spend about $50,500/year after tax ($4,208/month) without running out over a ~28-year retirement — about a 5.1% withdrawal rate, a touch above the classic 4% rule, which a shorter horizon like this can support. Whether that's enough comes down to your lifestyle; here's the full picture.
How long $1M lasts at different spending levels
The 4% rule is a starting point, not a guarantee — especially retiring at 67, when the money may need to last 28+ years. Here's what $1M supports, spending from age 67 to 95 at a 6% nominal return and 3% inflation:
| Rate | Spend / yr | Spend / mo | Outcome |
|---|---|---|---|
| 3.0% | $30,000 | $2,500 | lasts to 95 |
| 3.5% | $35,000 | $2,917 | lasts to 95 |
| 4.0% | $40,000 | $3,333 | lasts to 95 |
| 4.5% | $45,000 | $3,750 | lasts to 95 |
| 5.0% | $50,000 | $4,167 | lasts to 95 |
Why the answer isn't just $1M × 4%
A back-of-envelope "$1M × 4% = $40,000" overstates what you can safely spend at 67, for two reasons this projection captures:
- Taxes. A dollar in a traditional 401(k) or IRA is taxed as ordinary income on the way out; taxable-brokerage gains are taxed too. Only Roth and cash are tax-free. So the safe spendable figure ($50,500) sits below the headline 4% draw.
- A long horizon. Retiring at 67 can mean 28+ years in retirement. The 4% rule was calibrated to about 30 years — stretch it further and a lower rate (nearer 5.1% here) is what actually survives a bad early market.
The portfolio, year by year
Spending the sustainable $50,500/yr from $1M at age 67, here's how the portfolio holds up in today's dollars (inflation-adjusted, so it reflects real spending power):
| Age | Net worth (today's $) |
|---|---|
| 67 | $949,500 |
| 68 | $926,655 |
| 69 | $903,145 |
| 70 | $878,951 |
| 72 | $828,426 |
| 77 | $688,663 |
| 82 | $527,260 |
| 87 | $330,086 |
Assumptions: single filer, TX (no state income tax), 60% taxable / 30% traditional / 10% Roth split, 6% nominal return, 3% inflation, no Social Security. Add Social Security, a pension, part-time income, or a spouse in the calculator and the safe number rises — often substantially.
Retiring at full retirement age, with a runway to 73
Sixty-seven is, for most of today's retirees, right around full retirement age, which changes the character of the decisions. Medicare has been available since 65, so the expensive coverage bridge that defines earlier retirements is behind you. Social Security can now be claimed at its full, unreduced amount, with no earnings test to worry about even if you keep some part-time work.
The open question is whether to claim now or wait. Delaying past full retirement age still adds roughly 8% per year up to 70, and because that larger check is inflation-adjusted and lasts for life, deferring functions as longevity insurance for a healthy retiree. Portfolio withdrawals can bridge those few years if the trade looks worthwhile.
The years before required minimum distributions begin at 73 are a compact but valuable planning runway. If Social Security is deferred, taxable income in this window may be low, making it a strong opportunity for Roth conversions that trim future RMDs and the higher brackets and IRMAA surcharges they can trigger.
Common questions
Is $1M enough to retire at 67?
$1M at age 67 safely supports about $50,500/year after tax ($4,208/month) — roughly a 5.1% withdrawal rate — without running out over a 28-year retirement. Whether that's "enough" depends on your spending and other income like Social Security.
How much can I spend per month if I retire at 67 with $1M?
About $4,208/month after tax, based on the taxes you'd owe drawing from a typical taxable/traditional/Roth mix and making the money last to age 95.
What withdrawal rate is safe at age 67?
In this projection, about 5.1% of $1M. Retiring at 67 means a long 28-year horizon, so the safe rate lands close to the classic 4% rule.
Does this include taxes?
Yes — the spendable figures are after federal (and where applicable, state) tax on withdrawals from each account type. Add your real accounts in the calculator for a personalized number.