We're in our mid 50s with $2 million in our 401(k) and a $120k pension per year coming our way - are we good to retire?
Briefly

from 24/7 Wall St.2 weeks ago
Early retirement is easier for those with guaranteed pension income, though it still carries risks. Retiring in your mid-50s is less risky than in your 30s or 40s due to a shorter time span for savings to last. A $4.5 million portfolio might seem sufficient, but concerns arise regarding potential income cuts without a pension. A solid pension alters the financial landscape and can provide enough stability for a more comfortable retirement. Consulting a financial advisor is vital for assessing readiness for retirement.
When considering early retirement, the presence of guaranteed pension income significantly reduces financial risks, making it a more feasible option for many.
24/7 Wall St.https://247wallst.com/personal-finance/2025/02/18/were-in-our-mid-50s-with-2-million-in-our-401k-and-a-120k-pension-per-year-coming-our-way-are-we-good-to-retire/
Read at 24/7 Wall St.
#retirement-planning #pensions #financial-security #early-retirement #financial-advice
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