JustCurious
Thinks s/he gets paid by the post
- Joined
- Sep 20, 2006
- Messages
- 1,396
It is difficult for the average person to retire early, but it is not too difficult for the average person to retire at 65. The average life span is about 80, so someone who retires at 65 only has to finance 15 years of retirement, on average. The average family spends about 50k a year, and the average person collects about 12k a year in social security benefits. So, the average couple might collect 24k in social security benefits, and would only need to replace about 26k in spending for 15 years. That's not too hard. If a couple had $300k in savings earning 5% a year, they could withdraw 26k a year for 15 years.