Reported 2 days ago
At 62 years old with $1.2 million saved for retirement, individuals often wonder if this amount is sufficient for a comfortable and stress-free life. While the common 4% withdrawal rule suggests an annual income of about $48,000 from savings, adding Social Security benefits could elevate this figure to approximately $71,033. However, factors like healthcare costs, inflation, and personal spending habits significantly impact whether this nest egg will sustain a desired lifestyle throughout retirement.
Source: YAHOO