{
  "id": 5752677,
  "title": "We're 65 With $1.5 Million in an IRA and $4,200 Monthly From Social Security. How Much Can We Spend in Retirement?",
  "url": "https://urgent.news/2026/09/04/were-65-with-1-5-million-in-an-ira-and-4-200-monthly-from-social",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-04T09:00:00.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/news/were-65-1-5-million-100000307.html"
  },
  "original_language": "en",
  "account": "At age 65, many individuals start thinking about retirement and begin planning their benefits, such as Social Security and Medicare. With $1.5 million in an IRA and two Social Security payments, a married couple may have some flexibility for retirement. However, their individual circumstances and strategies can greatly impact their quality of life.\n\nWhen planning for retirement, consider your expected savings, income, and planned retirement date. Your income and benefits depend heavily on when you choose to retire. For instance, if you retire at 67 and don't contribute to your account, your finances might look like this: your IRA with an 8% annual return plus Social Security benefits totaling more than $5,200 per month, increasing your annual budget by nearly $13,000.\n\nTo create a retirement budget, first determine your expected income. A commonly used rule is withdrawing 4% of your portfolio in the first year of retirement and then increasing subsequent withdrawals by the annual inflation rate. In this example, your income in the first year might be $60,000.\n\nNext, balance your spending with your financial priorities and personal aspirations. Consider expenses like housing, food, recurring bills, and long-term care, as well as discretionary spending for hobbies and travel. Remember to account for local cost of living and potential expenses such as taxes and required minimum distributions (RMDs).\n\nFor tax planning, consider converting traditional IRA funds to a Roth IRA to pay taxes upfront and eliminate future RMDs. Speak with a financial advisor to create a sustainable retirement budget based on your assets and spending.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}