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The amount of capital a 66-year-old actually needs to retire on $6,550 a month swings by more than a million dollars depending on one decision most retirees make without fully understanding the tradeoff.
The amount of capital a 66-year-old needs to collect $6,550 a month for life swings by more than a million dollars depending on one variable, and choosing the wrong tier could cost you far more than you expect.