Individuals in their early 60s with $200k income should focus on finances before retiring.
From Yahoo Finance: 2025-03-27 07:30:00
Thinking about retiring soon? While there’s no official retirement age in the U.S., a MassMutual study suggests 63 is optimal. Before deciding, assess your finances. Americans believe $1.46 million is needed to retire comfortably, but your situation may vary. Consider expenses, income, and how you’ll spend your time post-retirement.
As retirement approaches, focus on strengthening your finances. Boost savings with higher catch-up contributions, understand Social Security options, and review your investment portfolio. Keep cash savings handy, pay off debts, and plan for unexpected expenses. Careful tax planning, like a Roth conversion, can also benefit your retirement strategy.