Retirement isn't one size fits all. Presented by BrighthouseFin
America's official retirement age — when a person can start claiming Social Security benefits — is between 65 and 67.
One common rule of thumb suggests having enough money socked away to start withdrawing 4% from a portfolio during the first year of retirement, increasing that withdrawal each year to cover inflation for 30 years. Delaying Social Security benefits increases the eventual monthly payout, but Social Security alone won't cover a comfortable retirement for the vast majority of people.was about $1,460 in January, according to US News, and the maximum monthly payout for someone retiring in 2019 is $2,860. In most cases, it's considered supplemental to investment income and retirement savings accounts, such as a 401 or IRA.
Then use a calculator to figure out how much you could be getting in annual Social Security benefits. According to, a 35-year-old today whose annual income is $65,000 could begin claiming about $44,000 a year in Social Security if they retire at age 66 . Keep in mind, Social Security income may be subject to federal and state income taxes as well.
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