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According to Investopedia, the feasibility of retiring on $500,000 at age 60 depends heavily on lifestyle, budget, and other income sources. While half a million dollars is a significant sum, it translates to a modest annual income, requiring careful planning and strategy to make it last throughout retirement.
According to the Social Security Administration, the earliest age to receive Social Security retirement benefits is 62. This means that anyone asking, "Can I get early retirement at 60 years old?" must create a comprehensive strategy to cover the financial gap until other benefits become available. With the right planning, retiring at 60 is an achievable goal.
According to Pensions and Lifetime Savings Association (PLSA) research, a single person may need between £540,000 and £800,000 to achieve a comfortable retirement. While this suggests £750k could be enough to retire at 60 in the UK, the reality depends on individual circumstances, careful planning, and strategic financial management to bridge the gap before the State Pension begins.
