Retiring at age 62 and filing for Social Security will reduce a person’s lifetime benefits by up to 30% compared to waiting until their full retirement age. However, a person with $2.5 million in a Roth IRA may feel more comfortable retiring at age 62,

Consider your current tax bracket, future tax rate projections and the benefits of tax-free withdrawals in retirement

Traditional retirement accounts offer immediate tax relief, while Roth accounts come from pre-tax contributions. However, Roth retirement accounts have become more popular among young investors since they shield capital gains and dividends from taxation.

I am a 43-year-old divorced father. I have $315,000 in a traditional individual retirement account (IRA), $90,000 in a Roth IRA, $22,000 in a health savings account (HSA), $8,000 in a 529 college savings account,