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When can I retire? Financial planning can illustrate how your retirement age may impact your finances. Fidelity Viewpoints. Key takeaways. The age you retire can make a big difference for your financial outlook. Retiring doesn't just mean a loss of one source of income.
- When can I retire? | Longevity and retirement | Fidelity
Consider using Fidelity's retirement guidelines to quickly...
- How much do I need to retire? | Fidelity - Fidelity Investments
Fidelity's guideline: Aim to save at least 1x your salary by...
- Fidelity's retirement calculators can help you plan your retirement ...
Get a holistic view of your retirement plan and explore...
- How to plan for retirement | Retirement strategies for every age | Fidelity
Small spending tweaks can have a big impact on retirement...
- When can I retire? | Longevity and retirement | Fidelity
13 maj 2024 · Consider using Fidelity's retirement guidelines to quickly gauge whether you are on track to retire at a given age. To retire at 67, we suggest aiming to save 10 times your final salary. To retire at 62, you'll want to consider saving more—14 times your final salary.
Fidelity's guideline: Aim to save at least 1x your salary by 30, 3x by 40, 6x by 50, 8x by 60, and 10x by 67. Factors that will impact your personal savings goal include the age you plan to retire and the lifestyle you hope to have in retirement. If you're behind, don't fret. There are ways to catch up.
Get a holistic view of your retirement plan and explore changes that may help you become better prepared. Required Minimum Distribution (RMD) Calculator: Determine your required retirement account withdrawals after age 73.* Retirement Decision Guide: Our guide can help you navigate retirement.
Small spending tweaks can have a big impact on retirement success. Consider a simple strategy to help reduce taxes on retirement income. Wait a few years or longer to boost your benefits—and your spouse's. Learn how to create monthly cash flow in retirement.
Your retirement age is set automatically when you start saving into your pension, but you should review this and select a date that is right for you. It’s also important to highlight that you can’t normally access your pension until the age of 55. This is due to rise to 57 on 6 April 2028.
Individuals may need to save more or less than the suggest savings rate guideline depending on retirement age, desired retirement lifestyle, assets saved to date, and other factors. Fidelity developed the savings milestones through multiple market simulations based on historical market data.
