Financeretirement, financial planning
When Can You Retire? How to Find Your Optimal Retirement Age
When Can You Retire? How to Find Your Optimal Retirement Age Someone who retires at 62 may spend 25 years in retirement — traveling, taking up woodworking, or simply enjoying grandkids. Someone else may work until 71, not by choice but by necessity. Income alone doesn't explain the difference. Planning does: knowing your number (the exact amount you need to retire) by age 40 and working backward beats hoping things will "work out." You can retire when your savings, investments, and guaranteed income sources can sustain your lifestyle indefinitely—typically when your assets reach 25-30 times your annual expenses. For most Americans, this falls between ages 60-70, but with aggressive saving, early retirement in your 40s or 50s is possible. Use our Retirement Calculator(/finance/retirement-calculator) to find your specific retirement age. Understanding Retirement Age Milestones Several ages matter for retirement planning: Age 50: Catch-Up Contributions Begin At 50, you can make extra...