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I'm 54 with 26 years of service as a nurse. We go by the rule of 80 (your age plus years of service = 80) on our retirement plan. It will cover my health insurance. My pension will be around $7,000 per month minus taxes. I have a combined $750,000 in a 403(b) and Roth […] The post Ask an Advisor: I'm a 54-Year-Old Nurse With $1 Million in Assets and a $7k Monthly Pension. Can I Retire Now? appeared first on SmartReads by SmartAsset.

How much Social Security you get in retirement will depend on your average earnings, how long you worked and your age when you start taking your benefits. In 2024, the average payment will reach $1,906. 

When you think of who receives Social Security benefits, billionaires don't likely come to mind. After all, when President Franklin D. Roosevelt signed the Social Security Act in 1935, he stated, "We...

With a little personalization, the income replacement metric can be a useful tool.