Once you turn 59 1/2, you can take an IRA or 401(k) plan distribution without incurring an early withdrawal penalty. But that doesn't mean you should tap your savings at 60. Age 60 is a fairly young ...
The average 401(k) balance for people in their 60s was $568,040 as June 2025. The median amount saved was much lower, at $188,792. How much you need to have saved for retirement will depend on your ...
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