That's one of the most important questions any pre-retiree can ask -- because your target retirement age isn't just about when you want to stop working; it's about when you can do so confidently and sustainably.

Here's how to think about it from an educational standpoint.

1. Defining your "target retirement age"

Your target retirement age should reflect more than a number on the calendar. It is a combination of financial readiness, lifestyle goals, and emotional preparedness. Many people choose 60, 62, or 65 because of Social Security or Medicare milestones -- but the "right" age depends on whether your income sources and savings can maintain your desired lifestyle for 25-30 years or more.

2. The key question: Is it realistic?

To know whether your retirement age is realistic, you need to stress-test your plan under different assumptions. Here's what planners often analyze:

• Current savings rate and total assets -- Are you saving enough now to reach your target date with a sufficient nest egg?
• Expected spending in retirement -- Will your living expenses decrease, stay the same, or even rise (for example, travel or healthcare)?
• Investment growth rate -- Conservative projections matter more than optimistic ones. Using realistic return assumptions helps prevent shortfalls.
• Income sources -- Social Security, pensions, rental income, and part-time work can fill gaps if your savings fall short.
• Longevity and inflation -- With life expectancy increasing and costs rising, your portfolio may need to support 30+ years of withdrawals.

3. The "retirement readiness" equation

A common way to evaluate readiness is through the savings multiple concept -- for instance, many experts suggest having 8-12 times your annual income saved by age 60-65 to maintain your lifestyle. But that's just a rule of thumb. What truly matters is your personal cash flow projection -- comparing your anticipated withdrawals with your portfolio's expected sustainable income (often tested using Monte Carlo simulations or guardrail strategies).

4. Flexibility matters

If your analysis shows a gap between your savings and your target age, you have several levers to adjust:

• Delay retirement by a few years (giving savings more time to grow).
• Reduce spending expectations.
• Increase savings or work part-time early in retirement.
• Optimize taxes through Roth conversions or smarter withdrawal sequencing.

Each small adjustment can make a significant difference in long-term sustainability.

In summary

Your target retirement age is realistic if your projected income sources can reliably cover your spending needs -- with enough margin for inflation, healthcare, and market fluctuations.

The goal isn't just to retire on time -- it's to retire with confidence, knowing your plan can support both your needs and your lifestyle for decades to come.