Reported about 1 year ago
If you are planning to retire at 62 with $400,000 in your 401(k), it is possible but challenging. Retiring early comes with the consideration of reduced Social Security benefits and a shorter time for your retirement account to grow. Waiting until at least age 67 can lead to more comfortable retirement. However, if retiring early is necessary and you can manage with modest living, it could be feasible. Seeking advice from a financial advisor is recommended for a personalized retirement plan considering factors like Social Security benefits and sustainable withdrawal rates.
Source: YAHOO