The article discusses the dilemma faced by individuals approaching retirement, particularly regarding the fear of outliving their financial resources. With the CDC predicting an average life expectancy of 77.5 years in 2025, the conversation centers around the safe withdrawal rate, which may need to exceed 4% for some retirees. A Redditor attempts to persuade a friend nearing 70 years old to retire, given prevailing worries about inflation and the cost of living, as well as the influence of their parents' longevity on their outlook. This highlights the broader concern for millions who may not be close to achieving financial independence yet grapple with retirement timing.
Ultimately, millions of people find themselves in this situation, and many will never reach FIRE numbers, raising concern about the right time to stop working.
The general rule is that with a 4% safe withdrawal annually, around 90% of your money should last 30 years, but this isn't always true.
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