According to data from the Empower Personal Dashboard™, the average 401(k) balance—one of the primary indicators of personal savings and investments—in the U.S. is $293,695. For those approaching retirement age (around 50 years old), this figure rises to $583,231. However, even with these savings, many soon-to-be retirees face critical questions: when is the best time to retire, how should they manage trusts to protect their assets, and how can Medicaid support healthcare expenses?
Over 40% of Americans are already considering what their retirement years might look like—thinking about the ideal retirement age, location, and expected monthly expenses. Nearly two-thirds are interested in relocating after retirement, and 16% are specifically looking at states with a lower cost of living, where their savings will stretch further.
#shorts #retirement
