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How to Turn $500K Into Passive Retirement Income | Retirement

You’re likely familiar with the phrase “Let your money work for you.” That’s the idea behind the concept of passive income, which means earning money with little or no effort.

In retirement, it’s certainly possible to generate passive income with your investment portfolio. For example, if you want to invest $500,000 to create passive income, you can go about it in several ways, but give it some thought before jumping in.

“Investing $500,000 to generate passive retirement income requires careful planning and consideration of various factors, such as risk tolerance, desired income and investment timeline,” said Walter Russell, president of Russell and Company in New Albany, Ohio, in an email.

Sarah Goldberg
Sarah Goldberg

Sarah is a seasoned financial market expert with a decade of experience. She's known for her analytical skills, attention to detail, and ability to communicate complex financial concepts. She holds a Bachelor's degree in Finance, is a licensed financial advisor, and enjoys reading and traveling in her free time.

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