Reported 1 day ago
Planning for early retirement at age 48 with $660,000 in savings from an IRA and 401(k) may be feasible, but it requires careful consideration of various factors such as healthcare costs, withdrawal rates, and long-term financial projections. Utilizing the 4% withdrawal rule, it's estimated that the individual might face challenges maintaining their pre-retirement income level due to penalties and healthcare expenses before becoming eligible for Medicare and Social Security. Given these hurdles, seeking the advice of a financial advisor is recommended to create a tailored retirement strategy.
Source: YAHOO