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Kiplinger

Business

Maurie Backman

I'm Retiring With $3.3 Million at Age 65 and Don't Want to Touch My Portfolio's Principal

Tyler Meyer Social Security

Owner of small business working at the bar, working on lap top while having a drink. Dressed in casual clothes with black sweater and jeans. Interior of vintage bowling alley in the morning with natural light. Small dog in the foreground.

Question: I'm retiring with $3.3 million at age 65 and want to avoid tapping my portfolio's principal. Is this possible?

Answer: The average 65-year-old American had about $609,000 in retirement savings in 2022. If you’re retiring with $3.3 million at 65, you’re clearly well ahead of the game.

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