54 Year Old Retiree With A $4 Million 401(K) Doesn't Know What To Do

At 54 years old with a $4 million retirement account, you're significantly wealthier than most peers, as the average 401(k) balance for individuals in their 50s is only $250,900. While this financial situation offers advantages, it also demands careful planning to ensure the money lasts through retirement. One critical step is deciding on a safe withdrawal rate, which helps avoid depleting the retirement funds prematurely. Proper asset management and financial strategy become vital for a secure and sustainable retirement nationwide.

If you are retired with $4 million at age 54, it is crucial to determine a safe withdrawal rate and wisely manage assets to ensure longevity.

Having a significant 401(k) balance at 54 presents not just privilege, but responsibility; it's important to strategize effectively for a secure retirement.

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