Retirement in Your Seventies
from Business News Today | 2 Min News | The Daily News Now!
Retirement in your seventies? Your average nest egg is $250K—but the median is far lower. At 73, you’re legally required to start withdrawing from traditional accounts (RMDs), or face steep penalties. To make your savings last, aim for 25x your annual spending. If you need $72K/year, you’ll need ~$1.8M. Smart withdrawals—mixing taxable, tax-deferred, and Roth accounts—can lower your tax bill and stretch your money. Roth withdrawals don’t bump taxable income, which helps reduce taxes on Social Security (up to 85% of benefits can be taxed). Life insurance cash value? Tax-free funding. Still working? Delay RMDs on your current 401(k), but not old ones. Working adds income (pushing you into higher brackets) but also lets you keep contributing—and grab free employer matches. Support the show: Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN: [email protected] This is an automated, high-level news summary based on public reporting. Report issues to [email protected]. View sources & latest updates: https://sources.thednn.ai/1b5bcfadd0328ff3
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