Assessing Retirement Viability with $1.4 Million in IRAs
Sunday, 18 August 2024, 11:00
Evaluating Retirement Potential
With $1.4 million in IRAs, retirees often question if they can step back at 60. Several critical factors play a role in this decision.
Key Considerations
- Assess Your Total Assets: Including a $750k home paid off can significantly impact retirement planning.
- Understand Your Expenses: Evaluating monthly outflows is crucial for decision-making.
Investment Strategies
- Consider Sustainable Withdrawal Rates: Experts suggest aiming for a 4% withdrawal strategy to maintain longevity of your assets.
- Review Investment Risk Tolerance: Adjusting your portfolio as you approach retirement can preserve income.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.