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According to experts in an article published by Fidelity, one of America's largest retirement plan administrators, you should have between eight and 10 times your pre-retirement income by your ...
If you're 62 years old and were born in 1962, your full retirement age is 67. Filing for Social Security as soon as you retire means slashing your monthly benefit by as much as 30% for life.
1. Use the Rule of 25 to get a ballpark number. A good rule of thumb to estimate your retirement savings goal is the Rule of 25.Simply multiply your desired annual retirement income by 25.
I currently have $680,000 in a 401(k), $150,000 in savings and a pension of $1,600 per month. Can I retire at age 62? – Hieu This is a good question and the answer depends primarily on what your ...
The average retirement savings of Gen X households is about $150,000 — far below the roughly $1.5 million that Americans say they need to retire comfortably. Another study found that about 40% ...
Age 62 is the earliest you can file, and it's also a popular time to begin claiming -- with roughly one-quarter of retirees taking benefits at this age, according to 2022 data from the Social ...