When should you retire

[Knowlopedia]

The most common retirement ages are 65 , 66 , 67 , or 70 . You can retire at any age with a pension plan. The earlier the age you retire, the more complete your Social Security benefits will be . For example if you work until 58 and then start taking Social Security payments when they are available at age 65 then 50% of your earnings will be used to calculate benefits while if you were to wait until 66 to take Social Security payments then only 33% would be used as an equivalent amount .

National Retirement Risk Index.
According to the "National Retirement Risk Index" 20% of retirees live on less than $12,000 a year .
If you retire early you'll be spending less and if you retire late then your expenses will be higher. If retirement is done gradually then the costs will be spread out over time and may have a smaller impact on your finances . If you plan for early retirement then it's important to invest your time wisely in order to make your savings last as long as possible .

 

[Mika]

President Joe Biden is 79 years old. Warren Buffet is 92 years old. These are just a few examples of men who are still active despite reaching the age when a normal person will retire. Therefore, I believe there is no such thing as "when should you retire." If you are physically and mentally fit to work and if you actually want to work, you can continue working as long as you want. You don't have to retire after reaching a certain age. Some people prefer to retire and enjoy life, whereas some people want to work, this is just a personal preference.