How Long Could You Live Off 1 Million Dollars? 

While the aim of this article is to explore how long someone can live off 1 million dollars; we will also explore how much interest rate you can earn if you invest this amount through different investment options.

How Long Could You Live Off 1 Million Dollars? 

If you are retired or have no other source of income, you can live off 1 million dollars for 20 years. This estimate is based on the following assumpotions:

  • You are retired at around 65 years of age
  • Your annual expenses are approximately $50,000
  • The rate of inflation is around 2.9%
  • The rate of interest on investments is 4%
  • The state and federal taxes are estimated at 30%

However, these are general estimates. An individual’s housing and healthcare expenses will contribute significantly to how long a million dollars may last. 

Can I Live Off The Interest On 1 Million Dollars?

Yes, you can live off the interest on 1 million dollars; as long as you invest wisely and do not make regular withdrawals from the principal amount. 

According to certain financial advisors, you can earn up to $5,000 (sometimes a little more) per month if you keep 1 million dollars in a savings account at the bank. 

However, you may wish to start early when it comes to savings so that you have a million dollars to invest when you retire. This online calculator may help you come up with an estimate.

How Much Interest Can I Earn On 1 Million Dollars?

In addition to keeping 1 million dollars in a savings account with a bank, you can also earn through interest on 1 million dollars in the following ways:

  • $10,000 in a 1% high-yield account or government bond
  • $96, 352 in the stock market
  • $47, 804 in a mutual fund


1 million dollars may last you around 20 years if you invest it wisely and use the returns in the same way. However, healthcare and housing needs may increase the living expenses of certain individuals.


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