Savvy American retirees know exactly when their 401(k) is big enough to retire early. Are you already there?
Most retirement planning focuses on general assumptions and rules of thumb. For example, a typical plan assumes that you will retire at age 62, which is the average retirement age according to MassMutual’s 2024 Retirement Happiness Study (1), withdraw 4% annually from your portfolio, according to the rule of thumb developed by William Bengen, and…