New Quiz and Benchmarks Help Americans Gauge Readiness to Retire at 60–65

Overview

• Kiplinger published a short quiz that helps people in their early to mid‑60s see if their savings and plans are on track.
• The guide explains that Social Security can start at 62 with smaller checks, while Medicare begins at 65 and typically covers about 80% of health costs.
• JPMorgan’s benchmarks set age and income savings targets using assumptions that include retiring at 65, a 5% gross savings rate, target‑date funds, and a 35‑year retirement.
• Example targets suggest a $100,000 household aims for about $745,000 by age 60 and $925,000 by 65 under the JPMorgan model.
• The piece also highlights common drivers of early retirement such as job loss, illness, caregiving, or burnout and urges planning for how to spend time in retirement.