Blogging On Finance

Choosing the right retirement age is integral to a successful retirement plan . According to consensus, the average retirement age for most individuals is 65 or 66 years old; this is the age at which you are eligible to draw full benefits from Social Security. Depending upon your financial situation, needs, and goals, you may find it advantageous to retire sooner or later. However, there is no formula that can be used to calculate the ideal retirement age, and it is essential to remember that the timing that works for you may not work for others.    Finding the Best Retirement Age Determining the right retirement age depends on numerous factors. When choosing the right age to retire, consider the following: ✔ How would you like your retirement lifestyle to be? ✔ How much will you need to maintain your desired lifestyle monthly and annually? ✔ What are your current retirement savings rate and the assets you have? ✔ How much have you saved for retirement already? ✔ How would you describ