Deciding whether to retire at 60 with $800,000 saved involves assessing personal lifestyle goals and expenses. The amount may suffice for a modest lifestyle, particularly in low-cost areas, but could be inadequate for those planning extensive travel or living in expensive cities. Itâs important to consider factors like homeownership status and the timing of Social Security eligibility to avoid potential pitfalls. Utilizing financial tools can help evaluate readiness for retirement and identify necessary steps toward achieving financial goals.
An $800,000 nest egg may suffice for retirement if expenses are low, but may not cover significant travel or high living costs in metropolitan areas.
Retiring at 60 can be tempting, but potential pitfalls include ineligibility for Social Security benefits and high healthcare costs.
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