Retiring At 55: Exploring 3 Retirement Income Scenarios
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- Опубліковано 26 кві 2024
- Retiring At 55: Exploring 3 Retirement Income Scenarios
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Dreaming of early retirement? This retirement video dives into the realities of retiring at 55. We explore 3 different retirement income scenarios to help you assess if an early retirement is within reach. We'll cover:
The impact of your retirement savings: How much do you need to retire comfortably at 55?
Social Security and early retirement: Can you collect retirement benefits before the full retirement age?
Planning for retirement healthcare costs: Staying healthy in retirement is key.
Whether you're a financial whiz or just starting your retirement planning journey, this retirement video will equip you with the knowledge to make informed decisions about your retirement future.
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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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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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Love the roller coaster sound effects Drew!!! Lol
I try my best to keep you entertained 😆
Always quality and thought provoking! Putting in the work to get to that third scenario. 😅
Thanks for watching as always!
Go Drew!!!!
Great job as usual Drew.
Thanks for watching
This is pretty much my plan. I have extremely low monthly expenses. Much less than the 2,500 per month in your example. Also have a much larger nest egg. Just gotta keep ahead of inflation and I am good.
Keep going!!
I'm 54 and about to sell one of my homes and will net roughly $1 million. Adding this to my retirement, investment and savings accounts, I would have roughly $2.5 million all in with my Florida condo (bought in cash) and an NYC co-op with $384K remaining on the mortgage (15- year @ 2.49%). I think it would be stupid to pay off the mortgage right now due to the low interest rate. I want to live on $9 to $10K per month in retirement and expect to receive around $4K/month SS @ age 67. Can I retire at 55?
Sounds like you are doing awesome!
You mentioned at time mark 8:23 a 3% rate of inflation monthly in the video, does this equal to 36% a yearly rate of inflation after twelve months? No way you can retire with a $1,000,000 in savings earning 6% annually; hyperinflation would wipe this out in a few short years. 3% monthly inflation rate on $4166 would be $124.98, then next months expense instead of $4166 would now be $4290.88. Then add another 3% to $4290.88 would then be an additional $128.73. Something is not right the presentation or I am missing some information that was left out.
3% is the yearly inflation rate projection, not monthly.
Hi Drew! Love your videos. Can you identify if the income/expenses are after or before taxes? To cover the $3800 monthly expenses, you need to pull near $5000/month. Thanks
Expenses are always after taxes but the software does take the taxes out over and above. Thank you so much for watching!!
Drew the way you did the first two scenarios, would 1.25m make it to mid 90’s using the 4166 per month?
Not sure without more data but I believe you are on the right track!
Omg...2500/month. I guess if you cut out the house and car thing, Among a lot of things. What about medical?
Medical is the fly in the ointment
Yeah, sorry buddy, you're working til 65 with that little savings.
Thanks for commenting and watching!
Mark Zuckerberg is only 39 and he definitely can retire. So the answer is yes.
😂