Can I Retire at 55 with $650,000 in Retirement Savings?!?

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  • Опубліковано 24 бер 2024
  • Can I Retire at 55 with $650,000 in Retirement Savings?!?
    *Free Retirement Download: The Checklist to Retirement:* 📊
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    Are you dreaming of an early retirement but unsure if it's feasible with your current retirement savings?
    In this video, we dive deep into the question, "Can I Retire at 55 with $650,000 in Retirement Savings?"
    Join us as we explore various retirement factors such as retirement lifestyle, retirement expenses, retirement investment strategies, and more to determine if early retirement is within reach with this amount of retirement savings.
    Whether you're just starting your retirement planning journey or nearing your retirement age, this video offers valuable insights and practical retirement tips to help you make informed retirement decisions about your financial future.
    Ready to schedule your virtual consultation, click here: pearlwealthgroup.com/contact/ or email us at info@pearlwealthgroup.com
    **Enroll In Our Course: Can I Retire: A Foundation To Your Retirement Journey: drew-s-site-958e.thinkific.co... ** 🖥️
    Retirement income strategies and retirement income planning are two big pieces to anyones retirement planning calculator. Whether you are wanting to know strategies for "retirement planning at 30", "retirement planning at 40", "retirement planning at 50", or even "retirement planning at 60" understanding how much retirement income that you want versus how much you need gives you a roadmap to follow to and through retirement.
    Here at Pearl Wealth Group, we run a trademarked retirement investment and retirement income plan for individuals and families who are wanting to retire called "Your Financial EKG™." What we are trying to visualize is how long a persons retirement savings are going to last throughout retirement. If you are looking for early retirement planning tips or trying to saving for retirement in your 50's, You Financial EKG™ is a great tool to help you understand where you are retirement planning. Retirement planning and retirement income strategies shouldn't be complicated. They should just be done right.
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    ❌ *Please make sure you talk with your CPA, Financial Advisor, Retirement Planner, or Investment Advisor Representative, before implementing any content from this channel. All videos are for informational and educational purposes only. None of the content, comments, responses, information, or any other item on this channel constitutes financial advice or recommendations. Please call Pearl Wealth Group at 813-807-5060 to go through your Retirement Income, Retirement Investments, or Retirement Plan in more detail.* ❌
    Pearl Wealth Group
    Drew Blackston, CRC® & RFC®
    Office: 813-807-5060
    Info@pearlwealthgroup.com
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    Getting you to Retirement, through Retirement, & protecting YOUR ability to stay in Retirement!
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КОМЕНТАРІ • 51

  • @davidcopeland2896
    @davidcopeland2896 2 місяці тому +3

    You have to consider social security is based on 35 highest earning years. When you receive your social security statement it assumes you continue to work. If you are retiring early you have to add 0 on the years to include 35 years which might lower your assumption on your social security benefit.

  • @glockman99
    @glockman99 4 місяці тому

    Great video. Go Rangers!!

  • @MatrixMatched
    @MatrixMatched 9 днів тому +1

    Thank you for this information. I’m crunching the numbers now

  • @jhfit
    @jhfit 4 місяці тому +8

    Pretty soon you'll have people asking if they can retire at 30

    • @yourfinancialekg
      @yourfinancialekg  4 місяці тому +5

      That's the goal!

    • @jennsjourneys1
      @jennsjourneys1 4 місяці тому

      Omg. So funny! "Can I retire at 30 with $1"?! I'll watch that! 😅

    • @NipItInTheBud100
      @NipItInTheBud100 4 місяці тому +1

      Hey, if you can pull it off why not!!

    • @Ww8.3
      @Ww8.3 3 місяці тому +1

      You can just not off a retirement account lol

    • @thienthan324
      @thienthan324 2 місяці тому

      yes one can, just retire in the street

  • @yanzukmjy
    @yanzukmjy 4 місяці тому +3

    Go Phillies!!!

  • @fasteddy3336
    @fasteddy3336 4 місяці тому +6

    I wish there was a company that still had pensions.

    • @larriveeman
      @larriveeman 4 місяці тому +1

      the fed's do, I have a nice one

    • @michaelperry7871
      @michaelperry7871 4 місяці тому

      The military

    • @vernshird711
      @vernshird711 4 місяці тому +1

      Most state gov'ts still offer pensions. Maryland state and county gov't offers pensions plus 401k and 457b. Education also offers a 403b.

    • @abrahams.lincoln6749
      @abrahams.lincoln6749 4 місяці тому +2

      Cops
      Teachers
      Firefighters
      UPS
      Utility workers
      DPW
      Auto workers
      Nurses
      Etc….

    • @yourfinancialekg
      @yourfinancialekg  4 місяці тому +1

      True Fast Eddy. Not many around anymore.

  • @jeffgagnon2622
    @jeffgagnon2622 4 місяці тому +2

    This was awesome, appreciate the detail, would have liked to see how health care costs in the bridge years changed the output.
    I feel ya on the minivan........go Dbacks

  • @cottontail132
    @cottontail132 4 місяці тому +2

    Waiting for a video from you on whether I can retire with 900k in savings at 48 years old. Need 32k a year to live abroad.
    Love all your videos❤🎉❤

  • @hilarylevin623
    @hilarylevin623 4 місяці тому +2

    If one is not planning on retiring before 59.5 do you need a brokerage account or is a Roth just fine?

    • @joshuabritt5677
      @joshuabritt5677 4 місяці тому +2

      If you have a 401k. There is what's called the rule of 55. You can take your 401k at 55 years old with no penalties. I know you have to leave your job, and you can only use the 401k from that job until 59 and half. I don't know much about it. It's something to read up on.

    • @yourfinancialekg
      @yourfinancialekg  4 місяці тому +2

      Here is a video explaing: ua-cam.com/video/dAjcxGga56E/v-deo.html

  • @Ww8.3
    @Ww8.3 3 місяці тому +2

    Because life is expensive. Insurance costs money. Property taxes never go away.

  • @marantz747
    @marantz747 4 місяці тому +1

    Beatles - Tell Me Why

  • @marantz747
    @marantz747 4 місяці тому +2

    Chicago White Sox

    • @yourfinancialekg
      @yourfinancialekg  4 місяці тому

      It's going to be a tough year for the Sox I'm afraid

    • @marantz747
      @marantz747 4 місяці тому

      As long as the Cubs don’t win I’m happy

  • @NipItInTheBud100
    @NipItInTheBud100 4 місяці тому +3

    I hope this one doesn't have a pension in the plan!!...LOL

  • @Gambrills773
    @Gambrills773 4 місяці тому +2

    Let’s go Os

  • @jimrinard1969
    @jimrinard1969 4 місяці тому

    St. Louis Cardinals

  • @daveharness70
    @daveharness70 4 місяці тому +3

    No no no...to reverse mortgage in this scenario. For goodness sakes. They won't need that much money at 90-95. The spending doesn't continue to ramp up with inflation. Stop analyzing things like this! It is WRONG. They should be able to live off ONLY social security.

    • @yourfinancialekg
      @yourfinancialekg  4 місяці тому +3

      Going through multiple scenarios and having various options isn't wrong, its called good planning

    • @greenlantern1986
      @greenlantern1986 4 місяці тому

      ...wut

    • @edhcb9359
      @edhcb9359 4 місяці тому

      Math doesn’t lie. Reverse mortgage brokers do lie though. 😂

  • @jimmyz5831
    @jimmyz5831 4 місяці тому +2

    No.

  • @greenlantern1986
    @greenlantern1986 4 місяці тому

    Can't wait to watch these kinds of videos in another 5 or 10 years and they stop having pensions in them.

  • @jennsjourneys1
    @jennsjourneys1 4 місяці тому +1

    I don't know why people just don't get a basic job of 20 hours a week or less that you can quit easily to travel, 00 stress 😮, and not touch your retirement. I'm going to do and sell Medicare part time. Let my money grow and grow and be there when I can't work at all. Especially if you're quitting work world before 70. I'm waiting until 70 to collect SS. Of course, I understand if you physically can't work at all or mentally can't