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"The study also concluded that if workers age 50 to 60 decide to retire at age 62, 8.5 million of them are projected to fall below twice the Federal Poverty Lev
by igravious 8y ago
"The study also concluded that if workers age 50 to 60 decide to retire at age 62, 8.5 million of them are projected to fall below twice the Federal Poverty Level, with retirement incomes below $23,340 for singles and $31,260 for couples. Further, 2.6 million of those 8.5 million downwardly mobile workers and their spouses will have incomes below the poverty level — $11,670 for an individual and $15,730 for a two-person household."
You say $4000/mo for a couple = $48,000/yr – article says $15,730/yr for the worst off and $31,260/yr for the next worse off. Do you have a source for your figure?
- cheschire 8y agoThis [0] article provides a table of numbers. There are several ways to approach $4000 for a couple, but I feel like those numbers only apply to the top 10% incomes in America. Hardly a good average. 0: https://www.fool.com/retirement/2018/08/21/heres-how-much-social-security-benefits-are-by-age.aspx https://www.fool.com/retirement/2018/08/21/heres-how-much-so...
- masonic 8y ago62 is early retirement. Of course one gets lower returns if one retires early.