I'm am 56 with 30 years of employment . Which at this point I can retire but want to make sure I have enough money in my 401. How can I calculate how much money I will need. Come time to retire and do I wait until 62, 65 or 67?
That’s the essence of financial planning! Go to www.choosetosave.org — the website of the Employee Benefit Research Institute. Use their BallPark Calculator. Click on the blue link in the previous sentence. That will give you the best idea of what happens if you retire early!