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I haven't found much information on if a person has around a million around ~40 years, can they retire? How would they manage close to 40 years in retirement? Any practical experiences?

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There is a 'rule of thumb' that someone can start out by withdrawing 4% of their nest egg, and ramp the withdrawal up (or down) by the rate of inflation, and have their money last for at least 30 years. For longer timeframes, the initial withdrawal should be a lower rate.

Another 'rule of thumb' is that one should plan on living until 95 or so.

So if 95 minus retirement age > 30 years, you probably need to have an initial withdrawal of less than 4% - say 3%. A 3% withdrawal from $1 million is $30k a year. Will that pay your expenses (including taxes on the tax deferred funds)?

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