Can I retire at 62 with $400,000 in my 401K?
Yes, $500,000 can support a comfortable retirement if managed correctly. By applying the "4% rule" or a similar withdrawal strategy, you can generate a steady stream of income. Because you are eligible for Social Security at 62, the combined income from your savings and your monthly Social Security benefit can create a more robust financial picture, provided you have planned for the impact of early collection on your benefit amount.
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