**To schedule your virtual retirement and investment consultation with Drew, please select a day & time that works best for you: calendly.com/pearlwealthgroup/discoverycall ** ☎
Any chance you could do an indepth analysis on how he obtained such a large portfolio at 50? Buy and hold strategy? Inheritance? He definitely doesn't spend much so that's huge.
@@yourfinancialekg I work with Edward Jones and they set mine (72T) up for me and deposit a check in my account once on the 1st of each month and once on the 15th of each month. 👍
Whats the point in having a roth and a traditional ira if you can only contribute the max limit total through BOTH accts. Why not just contribute the max to 1 acct?
I'm not understanding listing the 72t as an asset. The Rule of 72t is simply a designated set of conditions one must meet in order to qualify as a penalty free withdraw from an IRA... What does the $552.000 represent, another IRA? This suggests there is such a thing as a "72t account" to which he has contributed on the same footing as an IRA, but.... I don't get it. What exactly is a 72t account you're assigning this money to? Where does the 552,000 sit at the moment, without the "72t" attached to it?
Thanks for the comment. All my examples are taken directly from someone who contacted me for a Financial EKG. What kind of examples would you rather see?
@@yourfinancialekg I'm 52 year old single teacher with a little over one million. 650k are in retirement accounts. 500k has a guaranteed return of 7%. (This is available only to NYC educators).II will receive a pension. If I leave now I will get 40k at 55 with free health care. If I wait until 55 it will be 65 to 70k half my pay. I can't do teach anymore I would like to retire in June. Can I retire.?
@@beatricerights Congrats on saving! There are many variables to determine if you can retire, including expenses, taxes, and where you'll be living or doing in the next 10-20 years. Contact us if you would like to discuss creating a Your Financial EKG plan for you. Thanks for watching!
@@beatricerights All depends on expenses but if you have little to no debt you will be fine. I would try n wait it out the 3 more Years for the extra -25k.
**To schedule your virtual retirement and investment consultation with Drew, please select a day & time that works best for you: calendly.com/pearlwealthgroup/discoverycall ** ☎
Great video! That guy is my idol. 56k in expenses with a 2 million portfolio at 50. Very impressive.
Thanks for watching!
great video. I retired early at 55 (my 2nd retirement), when I am 59.5 I will be golden.
Great job!
I found your channel a couple of weeks ago and i love the content. Thank you for brining us information.
Thanks for watching!
This was a good example using a real world situation
Thanks for watching!
Thanks, this is very helpful.
Glad it helped!
What about Roth conversions during the low income years?
Certainly a possibility!
Any chance you could do an indepth analysis on how he obtained such a large portfolio at 50? Buy and hold strategy? Inheritance? He definitely doesn't spend much so that's huge.
He is single, saved aggressively, and lived by his budget. Hope that helps!
@@originalmicdrop Maybe...
How do you predict the "Account balance" on your IRA if you are 100% invested in stocks and value of IRA changes daily?
12/31 value
Do you have to adjust the 72T each year or is it a set it and forget until 59 1/2 or 5 years?
The payments are a fixed payment but the custodian normally won’t distribute the funds automatically. You have to go in a pull the money.
@@yourfinancialekg I work with Edward Jones and they set mine (72T) up for me and deposit a check in my account once on the 1st of each month and once on the 15th of each month. 👍
Whats the point in having a roth and a traditional ira if you can only contribute the max limit total through BOTH accts. Why not just contribute the max to 1 acct?
Great question, normally it's when you are trying to balance out taxes or doing roth conversion planning.
I'm not understanding listing the 72t as an asset. The Rule of 72t is simply a designated set of conditions one must meet in order to qualify as a penalty free withdraw from an IRA... What does the $552.000 represent, another IRA? This suggests there is such a thing as a "72t account" to which he has contributed on the same footing as an IRA, but.... I don't get it. What exactly is a 72t account you're assigning this money to? Where does the 552,000 sit at the moment, without the "72t" attached to it?
Skip to 7:40
If you have total assets of almost $2m, you can retire at any age. No formula needed.
Not so fast my friend
If you are still available in 10 years… I’ll be contacting you with a very very similar scenario. 😂👍👌
I'll still be here!
@@yourfinancialekg You will be here with 10 million subscribers.
Hey how you doing...I am 41
For real… you’re examples are so rich… so unrealistic than most Americans
Thanks for the comment. All my examples are taken directly from someone who contacted me for a Financial EKG. What kind of examples would you rather see?
@@yourfinancialekg I'm 52 year old single teacher with a little over one million. 650k are in retirement accounts. 500k has a guaranteed return of 7%. (This is available only to NYC educators).II will receive a pension. If I leave now I will get 40k at 55 with free health care. If I wait until 55 it will be 65 to 70k half my pay. I can't do teach anymore I would like to retire in June. Can I retire.?
@@beatricerights Congrats on saving! There are many variables to determine if you can retire, including expenses, taxes, and where you'll be living or doing in the next 10-20 years. Contact us if you would like to discuss creating a Your Financial EKG plan for you. Thanks for watching!
@@beatricerights All depends on expenses but if you have little to no debt you will be fine. I would try n wait it out the 3 more Years for the extra -25k.