For many individuals, their targeted retirement age is consistent with the social security administration's definition or 'normal retirement age,' which means retiring between age 62 and 67. However, one's true retirement age is determined by many factors, including one's state of financial readiness. Ideally, one would have sufficient financial resources that would allow one to choose whether to retire in one's 60s. But many individuals are not in an ideal situation, resulting in their retirement age being dictated by circumstances beyond their control. If you are in your fifties, the following are some points that should be considered when planning for your retirement.


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