How old would you have to be retired? How many savings for retirement? If your family isn't able to afford, what will they receive once you die at an old age? (100 words)

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Kelton Whitehead

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14 November, 13:19

How old would you have to be retired? How many savings for retirement? If your family isn't able to afford, what will they receive once you die at an old age? (100 words)

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Selina Bowers · Answer 1

It varies. Nowadays, you would have to be at least 67 to retire. It depends on your savings, for example, if you have $20,000 in savings you take half of that money to spend on retirement fees. If the family is financially struggling and they can't pay your retirement bill, I'm guessing Social Security administration will take over.