Retiring at 65 with a $3 million nest egg can be possible, but careful planning is essential. It is important to assess your living expenses, taxes on withdrawals, and future healthcare needs to ensure long-term financial viability. The commonly referenced 4% withdrawal rule may be risky in volatile market conditions, urging retirees to consider adjusting their investment strategies. Additionally, understanding the differences between various retirement accounts, such as traditional versus Roth IRAs, will impact net income and withdrawal strategies, affecting overall retirement readiness.
It's essential to assess your expenses, taxes, and healthcare costs to determine if you are ready to retire at 65 with a $3 million nest egg.
The 4% rule is a guideline for annual withdrawals but can fail during stock market downturns, necessitating portfolio adjustments as you age.
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