5 Ways to Retire With $5 Million by Age 55

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According to DYQDJ, that would put you at about the 97th percentile in terms of U.S. net worth.

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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.

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But you’re above average, right? I’d say you could easily have 3 to 4 decades to enjoy that money.

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

Let’s say you finish high school at 18 and graduate from college at 22 with a degree that will help you land a good job.

While it’s true that slow and steady wins the race, it’s also true that there are many thousands of people each earning millions of dollars every year.

For this example, 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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5 Ways to Retire With $5 Million by Age 55

According to DYQDJ, that would put you at about the 97th percentile in terms of U.S. net worth.

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.

But you’re above average, right? I’d say you could easily have 3 to 4 decades to enjoy that money.

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

Let’s say you finish high school at 18 and graduate from college at 22 with a degree that will help you land a good job.

#1 Slow and Steady Wins the Race

While it’s true that slow and steady wins the race, it’s also true that there are many thousands of people each earning millions of dollars every year.

#2 Develop a Remarkable Talent or Product

For this example, 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.

#3 A Negative Net Worth at 30 (With Great Earning Potential)

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