There’s a possibility that I might have the genes to live into my 90s, but my dad was in the military for 25 years so all his healthcare is basically free. I don’t anticipate getting free healthcare, and you never know what’s around the corner — I might get hit by a truck tomorrow.I have a goal roughed out wherein if I quit, I use the IRA to support myself for three years (as it is inherited, I have to spend it within 10 years) while I wait for Medicare, and hopefully also wait that three years to apply for ...

That could be much less depending on your work record and when you claim your benefit; if you don’t wait until your full retirement age of 67, your benefit will be permanently reduced.As of August 2025, the average Social Security retirement benefit for a retired worker was $2,008 per month. That’s just $24,000 a year. (3)So there’s a legitimate reason for working Americans to be concerned. Regardless, even if a solution is found and benefits aren’t slashed, the average Social Security retirement benefit ri ...

Core Insights - The IRS allows a maximum contribution of $7,500 to IRAs in 2026, with an additional $1,100 catch-up contribution for individuals aged 50 and older [2] - Two investment scenarios are analyzed: investing entirely in an S&P 500 index fund or a conservative 60/40 portfolio of equities and fixed-income assets [2][5] Investment Scenarios - Contributing $7,500 annually to an S&P 500 index fund from age 27 to 67 could result in approximately $1.38 million, assuming a historical inflation-adjusted annual return of 6.69% [3][4] - A conservative 60/40 portfolio would yield a significantly lower amount, just over $882,000, with an average annual return of 4.89% from 1901 to 2022 [3][6] Implications for Investors - Investing in an S&P 500 index fund offers the potential for higher returns compared to a conservative 60/40 portfolio, but it also comes with greater volatility [5] - The 60/40 portfolio, while more stable, results in a smaller retirement nest egg, highlighting the trade-off between risk and return [6]