For many years, social security considered age 65 full retirement age. It remains the age at which you are eligible for Medicare. Thus, 65 is one of the most common ages at which people begin their retirement.
Retirement is a major milestone in life and one that requires careful planning and preparation. One of the most common questions that people ask themselves is: How much should I have saved by the time I retire?
The answer to this question is not simple, as it depends on many factors, such as your income, expenses, lifestyle, goals, health, and longevity. However, there are some general guidelines and rules of thumb that can help you estimate how much you need to save for retirement.
In this video, we'll look at benchmarks of the average net worth of those in their 60s along with some guidelines and rules of thumb to help you estimate how much you need to save for retirement. I will also show you how to use the 4% rule, a simple and widely used method to calculate your retirement income needs.
4% Rule Video: • Is the 4% Rule Still G...
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