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Kiplinger
Kiplinger
Business
Maurie Backman

I Waited Until 75 to Retire With $1.4 million. Do I Have to Follow the 4% Rule, or Can I Take Larger Withdrawals?

Davis Mark Sweeney Social Security
A man in his 70s faces the camera with a slight smile.

Question: I waited until 75 to retire with $1.4 million. Do I have to follow the 4% rule, or can I take larger withdrawals since I'm older than the typical retiree?

Answer: Some people opt to retire at age 62 because that's the earliest age to claim Social Security. Others like to wait until 65 because that's when Medicare coverage begins.

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