Reported 4 months ago
Retiring at 50 with $1.5 million entails thorough planning and considerations. To achieve this dream, individuals must plan for sufficient income to cover living expenses for several decades. Factors such as expenses, taxes, and investment income need to be carefully evaluated. Strategies to boost retirement income include delaying Social Security benefits, increasing interest rates, and understanding income tax implications. Tips to stretch savings in retirement include budgeting, choosing low-fee investments, caring for health, working part-time, and paying off debt. A solid retirement plan should incorporate diversified investments and precise expense calculations to ensure income sustainability over the years until becoming eligible for Social Security benefits.
Source: YAHOO