Traditional retirement typically starts in the 60s, aligned with when public pension and healthcare benefits kick in. Modern retirement is increasingly flexible — part-time work, sabbaticals, second careers.
The core planning question is the same regardless of age: does projected income (from investments, pensions, benefits, and any part-time work) cover projected expenses, with a margin for surprise?
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Open Financial OS →Frequently asked questions
How much do I need to retire?
A common shorthand is 25× your annual expenses invested (the 4% rule). Your number depends on lifestyle, other income, and how long you expect retirement to last.
Related terms
FIRE (Financial Independence, Retire Early)
A movement focused on saving aggressively enough to make paid work optional decades before traditional retirement.
4% rule
A guideline suggesting you can withdraw 4% of a diversified portfolio in year one of retirement and adjust for inflation each year with a high chance of lasting 30 years.
IRA (individual retirement account)
A US tax-advantaged retirement account you open on your own, separate from an employer plan.
401(k)
A US employer-sponsored retirement plan with tax advantages.