Is It Possible to Retire by Age 55?
For many workers, retirement is a dream that can't come true soon enough. Especially if you've been working for decades, you may not be able to wait for the day you can finally leave your job and start spending each day however you please.
But saving enough to retire comfortably in your 60s is tough, and retiring earlier than that can be an even bigger challenge. More than half (53%) of workers in their 50s have less than $100,000 saved for retirement, according to a survey from TD Ameritrade, and 85% have less than $500,000 stashed away. It might take more than that to retire early -- and if the coronavirus pandemic has wreaked havoc on your retirement savings, you might need to rethink your plans.
If you're determined, though, it is possible to retire at age 55. Here's how to tell if you're on track.
Source Fool.com
