Reported 2 days ago
Retiring at 63 with a net worth of $1.6 million and monthly expenses of $4,500 is possible, but it depends significantly on various factors including the portion of your net worth that consists of liquid assets, your risk tolerance, and additional sources of income like Social Security. While a 4% withdrawal rate suggests you could withdraw $5,333 monthly, potential risks such as inflation and investment volatility may affect your financial stability. A financial advisor can help formulate a solid retirement plan considering your unique circumstances.
Source: YAHOO