If you had 2 friends, who has a chance of better survival into early retirement? Both are healthy and no medical problems.
1) First friend is 33 years old, the guy has $1.2 million dollars and 3 kids (below 12 years old), and he and his wife retires permanently. Yearly expenses is around $65,000. When they reach 62 or 63 - social security income is a bit small. They have 29-30 years to get any social security benefits.
2) Second friend is 53 years old, the guy has $700,000 dollars, he and his wife retires permanently, no kids at all. Yearly expenses is around $40,000. When they reach 62, social security income is bigger than the first friend. They have 9 - 10 years to get any social security benefit.
1) First friend is 33 years old, the guy has $1.2 million dollars and 3 kids (below 12 years old), and he and his wife retires permanently. Yearly expenses is around $65,000. When they reach 62 or 63 - social security income is a bit small. They have 29-30 years to get any social security benefits.
2) Second friend is 53 years old, the guy has $700,000 dollars, he and his wife retires permanently, no kids at all. Yearly expenses is around $40,000. When they reach 62, social security income is bigger than the first friend. They have 9 - 10 years to get any social security benefit.