How Much Money Can You Make from a $500,000 Portfolio?

Everyone has to stop working at some point in their life. When that time comes, they will have to dig into their retirement savings. Some have enough and can live comfortably; but others are not so lucky.

People now live a little longer and, depending on how long you live, you may need income for 30 or more years. So, how much should a retiree save?