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At age 62, with $400,000 in a 401(k) account, you can generate a livable income depending on how you structure your portfolio and where you choose to live. Livable does not mean comfortable, however.
Weighing the pros and cons of taking Social Security at age 62 can help you decide if it's the right move. You also need to draw up a retirement budget, something you can use this free calculator ...
If you decide to transfer your pension, 401(k), or any other accounts or retirement plans from former employers into an IRA, it’s often best to move them all into the same account. This simply ...
The average 401(k) balance for five million Vanguard participants was $134,128 across all age groups in 2023, according to the firm's How America Saves report. However, this figure doesn’t ...
The post We’re 62 and Have $1.6 Million in Our 401(k)s. ... moving parts of your financial life. A financial advisor can help you plan and save for retirement. Find a […] The post We’re 62 ...
Instead, you might consider tapping money from your retirement accounts, like a 401(k) or IRA, first so that you can delay Social Security until your full retirement age — and collect a bigger ...