Updated July 1, 2026
$1 million produces about $40,000 a year using the 4% rule, and adding the average Social Security benefit of roughly $23,000 brings total income near $63,000 a year. That is a comfortable retirement in much of the country, and a tight one in expensive metros or with high spending.
What $1 million actually generates
At a 4% starting withdrawal, $1 million is about $40,000 in year one, rising with inflation. For a couple who both claim Social Security, combined benefits can push total household income well past $60,000 to $70,000 a year without touching principal faster than the rule allows.
How long will $1 million last?
Spent at the 4% rule, history suggests $1 million lasts 30 years or more in most scenarios. Spend faster (say $60,000 a year from the portfolio alone, a 6% rate) and the odds of running short within 30 years climb. Longevity matters: plan for a retirement that could run into your 90s.
It depends heavily on where you live
In a low-cost state, $1 million plus Social Security can fund a relaxed retirement. In high-cost coastal cities, the same money stretches far less because housing, taxes, and healthcare cost more. Your spending, not the round number, decides whether it is enough.
Single vs couple
For a couple, $1 million is often supplemented by two Social Security benefits, which helps. For a single person, the same $1 million covers one set of expenses but only one benefit, so the portfolio carries relatively more of the load.
How to know for sure
Run your real numbers: your spending, your expected Social Security, your retirement age, and your savings. The calculator shows the income $1 million supports for your situation and whether it closes your gap.
See what your number produces
Enter your own balance and spending to find out if it clears your bar, not just the average one.