8, Dec 2020
What is your number and what age do you want to reach financial independence or retirement?

What is your number and what age do you want to reach financial independence or retirement?

Calculate how much money you need a year to retire? What age would you like to retire or reach financial independence

Social Security benefits are much more modest than many people realize; the average Social Security retirement benefit in June 2020 was about $1,514 a month, or about $18,170 a year. (The average disabled worker and aged widow received slightly less.)
What does an average retirement cost? According to the Bureau of Labor Statistics: about $49,000 per year in 2014, the most recent year for which statistics are available. That means if you live for 20 years after you retire, you’ll end up spending about $980,000 (plus taxes, not accounting for inflation).Nov 19, 2019
The average retirement age is 62, but 64% of Americans say goodbye to the workplace between the ages of 55 and 65. Also, many retirees go back to work. Some work part time, while others pursue a second career. Some even return to full-time work and then retire again in a few years.