5 Ways to Retire With $5 Million by Age 55

A 55-year old can expect to live an average of 26 (male) to 29 (female) more years, according to the Social Security Administration’s actuarial tables.

5 Ways to Retire With $5 Million by Age 55

With $5 Million in retirement savings, you can expect to spend in the range of $150,000 to $200,000 a year using a 3% to 4% safe withdrawal rate

Slow and Steady Wins the Race

That’s $26,400 per year apiece. It could simply mean maxing out a 401(k) and getting a company match and/or profit sharing. Do that for 33 years, earn about 6% on your investments, and, as a couple, you could be sitting on a $5 Million nest egg at age 55.

A Negative Net Worth at 30 

we’ll assume a single income, a net worth of -$300,000 (that’s a negative $300k) but with annual earnings in the multiple six-figures.

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