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Is $10 Million Enough to Retire on Passive Income & Live Off at 30, 50, or Later?

Yes, it’s possible. You can retire on 10 million dollars. However, you’ll want to consider factors like your desired lifestyle, age, taxes, the increasing inflation rate, and how you want to access your retirement income.

But can you retire with 10 million dollars, and keep up with a more luxe lifestyle? Let’s talk about it.

What to Do With $10 Million Dollars

Have $10 million? What do you do with it?

As you’ll discover in this article, you can either live off from it for many years, or you can use the $10 million to live incredibly lavishly for a few years (we’re talking private jets, monster donations, or buying a mansion!).

If you invest $10 million dollars and earn 10% (this can often be done with real estate or index funds), you could earn $1 million a year on your investments!

Can you retire with 10 million dollars? For most...easily! Is ten million enough to retire?

For those that want to live a better than average life in retirement, they want to know…”Can you live off 10 million dollars in interest?”, “Is ten million enough to retire?”

Absolutely it is — unless you’re spending hundreds of thousands of dollars a year. Keep in mind that $10 million dollars can earn an average of $800,000 in interest every year alone (if the annual rate of 8% is steady).

So even if you never add another penny back into your investments once you hit $10 million, that’s how much you’ll earn year after year. And the average person can easily live off of $800,000 a year (or far less)!

Related: What Can I Do With 5 Million Dollars?? (Retire? Buy a Ferrari? A Yacht??)

Can I retire early with 10 million?

Okay, so you can retire well on 10 million dollars, but what if you want to get out of the rat race early? Can you retire early with 10 million dollars?

Sure you can!

If you retire even 20 years earlier than the average retirement age (45 vs. 65) and live until 90, you’ll still be able to spend over $300k a year, and not overspend.

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Related: Wondering How Much Money You Need to Retire? (The Formula is Easy!!)

Can you retire at 50 with 10 million dollars?

How about retiring at 50 years old? Can you retire at 50 with 10 million dollars?


You can estimate how long your retirement savings will last with the “4% rule.” This rule suggests that you withdraw only 4% of your retirement savings every year. This will ensure that you have enough money to last for 30 years.

With this rule, you can retire at 50 on 10 million dollars and generate $400,000 a year and live until 90. Of course, the less you spend, the more the money compounds. So you may not even spend close to the $10 million if you live on less.

Can you retire at 60 with 10 million dollars?

At age 60, you could easily retire with 10 million dollars and generate around $500,000 a year for the rest of your life. Again, many people don’t really need to spend this much each year, so this money could last well past your lifespan if you spend it wisely.

Related: How Much Money Do You Need To Retire At 60?

How to Earn 10 million dollars by 30Is $10 million enough to retire at 30?

What if you’re fairly young, but you’ve already earned a ton of money in your life? Is $10 million enough to retire at 30?

It can be!

Spend $250k a year and earn just 2% on your investments, and your money will last for over 70 years! I’d say you could retire at 30 with 10 million dollars!

How long would 10 million dollars last in retirement?

So what if you had a huge sum of money already? How long would 10 million dollars last in retirement?

As you can see from above, 10 million dollars could last you 45+ years if you’re spending around $300k a year. Even if you’re retiring as a couple, 10 million could still last over 30 years if you decide to retire around 60.

Related: What Will It Cost to Live When You Retire? (Inflation is a Killer…)

What is a good amount of money to retire with?

There isn’t a good amount of money to retire with, because it all depends on your needs, wants, and how you want to live during retirement. There are many people who have been able to retire well with less than $1 million. I wouldn’t recommend it (since you need to live on a tight fixed income), but it is possible.

However, if you want to retire with lots of money, and be able to live a “maximum” type lifestyle (ie. spending as much money as you want), it may be best to retire with at least $5 million to $10 million.

Woman with Piggy Bank - Saving MoneyHow much money does the average American retire with?

Maybe $10 million is far out of your range for what you can save up. After all, that’s well above average. How much money does the average American retire with?

According to The Motley Fool, the average retirement account savings for American households was around $65,000. But, for 55 to 64-year-olds, that number is approximately $408,000. So many American households retire with less than $500,000 saved.

How can people retire with so little?

So apparently some people are retiring with less than 500,000 dollars. How do they retire with so little?

  • Social Security income
  • Pension income
  • Living an incredibly frugal life

Related: How Much Should I Have In Retirement at 35 Years Old?

What is a good net worth?

There isn’t a certain number that you need to meet to have a “good” net worth. However, the average net worth by age can be a good place to start if you want to see how well you’re saving.

The average net worth by age (as of 2020) is:

  • <35 years old – $76,300
  • 35-44 years old – $436,200
  • 45-54 years old – $833,200
  • 55-64 years old – $1,175,900
  • 65-74 years old – $1,217,700
  • 75+ years old – $977,600

Remember, these numbers only account for the average net worth. And as you know, net worth doesn’t mean liquid cash. It can also be house worth, retirement accounts, and other savings.

Related: How to Save 1.5 Million For Retirement (…And Is It Really Enough??)

can a poor person become a millionaireHow much income can 10 million generate?

What if you had that lump sum of cash invested? How much income can 10 million generate? 

This will depend on the average interest rates of the accounts that the $10 million is in. For example, $10 million in real estate may earn more or less than $10 million invested into high-risk stocks.

Passive income from $10 million dollars

If we follow the average annual return of 5% to 8%, $10 million could earn anywhere from $500,000 to $800,000 in income a year. You could easily do this with real estate or a simple index fund that follows the S&P 500. If you have $10 million, you really don’t need to get fancy with your investments to make your money last. 

Invest in simple passive income ideas and you can live quite well for the rest of your life!

Related: What Is The Interest on 1 Million Dollars? (Is It Enough to Retire??)

What is considered a wealthy retiree?

Wealthy and affluent retirees report at least $100,000 in yearly income. So by having $10 million, and thus being able to withdraw at least $300,000 a year, you would be considered a wealthy retiree.

How much does the average retired person live on per month?

According to the Bureau of Labor Statistics, retired people 65 and older spend an average of $45,756 a year. This equals to roughly $3,800 a month.

In contrast, someone with $10 million could spend an average of $500,000 a year, or almost $42,000 a month. That’s nearly 10 times the average amount!!

Related: Early Retirement – Is It Really Possible?

What can I do with 10 million dollars?

As you can see, it’ll be easy to retire with 10 million dollars. But once you do, what the heck are you supposed to do with it? What could you do with it? What is the $10 million net worth lifestyle?

Live The Way You Want

First, you can live the way you want. Money won’t be an issue. Do you want to buy luxury items? Live in a better house with a better view? That’s easy to do when you have $10 million!

Here are just a few fun luxuries and other spending you could try out if you had $10 million:

  • Buy a private jet and take pilot classes
  • Live abroad in a country like Portugal and buy a mansion right on the water
  • Go on a shopping spree
  • Pay for your great-great-great-great grandkids educations (as well as the other generations!)
  • Provide food to about 20 million people if you’re feeling generous

Surprised at how far $10 million could go? You could do ALL of this and still have money left over!

Invest 10 million dollarsInvest The Extra

Of course, if you want to continue growing your money, you can just keep re-investing it too. You don’t have to spend $500,000+ a year. You can certainly live off of $100,000 a year easily, and invest the rest.

This is especially helpful if you plan on leaving money to your family later on. $10 million can go far if it’s invested over a certain amount of years.

What is the interest on 10 million dollars? What could it grow into?

If you retire at 65 with $10 million and leave that 10 million alone until you’re 90, you’ll die with $44 million dollars!! And that’s with an annual return of just 6%!

Related: How Much Money Is Enough? (And Can You Stop…??)

Keep Working (Even If Not For Money!)

No, you don’t have to keep working if you retire with enough money to live off of. However, it’s important to note that retirees notice significant cognitive decline, and have more chances of depression when they aren’t utilizing their time wisely.

So, in order to avoid the negative symptoms of retirement, stay busy!

Again, you don’t have to work. But you could always try:

  • New hobbies – Like gardening, sudoku, checking out library books, or even getting into online gaming!
  • Volunteer work
  • Work a part-time job just to get interaction with people
  • Travel
  • Try out some new sports (like swimming or tennis)
  • Babysit your grandkids or great-grandkids (if you want! No pressure)
  • Anything that keeps you active and healthy!

Basically, you don’t want to slow down unless absolutely necessary. While retirement can be a beautiful thing, you don’t want to go downhill during your golden years.

how not to be a cheapskateCan You Retire With 10 Million Dollars??… YES!

As you can see, it’s totally possible to retire with 10 million dollars in the bank.

In fact, you’ll be able to basically do whatever you want, when you want, when you have that much money saved. But of course, you don’t have to live how anyone else does. Choose the right plan and adventure for you!

Will you retire with 10 million dollars? What’s your plan?

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AUTHOR Kimberly Studdard

Kim Studdard is a project manager for online entrepreneurs and small businesses. When she isn't spending time with her daughter and husband, or reading her growing pile of horror books, you'll find her working on her HR degree and working towards FIRE.

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