Residents Can Retire The Earliest In Philadelphia

Based on incomes and living expenses, SmartAsset found that people in Philadelphia can retire as early as 58, the youngest age among the nation’s 15 largest cities.

Estimates are made assuming that workers put 15 percent of their household income into a 401(k) starting at age 30 and elect to take social security at age 67.

Residents in Philadelphia could earn an annual retirement income of $51,769, which covers retirement expenses totaling $49,126.

The earliest retirement age of all 15 cities fall between 58 and 62 years old.

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