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Saving for Retirement

How Working Longer Adds Up

Working just a few extra years beyond 62 can significantly boost your retirement income. The examples below include annual withdrawals from a $500,000 nest egg plus Social Security benefits, and assume your preretirement income is $100,000 a year.

Total Retirement Income at 62: $37,700

If you work three more years and save an additional $25,000 a year, your retirement income will be: $48,444.

If you work four more years, receive full Social Security benefits and save $0, your retirement income will be: $48,168.


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T. Rowe Price