I'm 50 with $275,000 saved for Retirement, When Can I Retire?
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- Опубліковано 31 бер 2024
- I'm 50 with $275,000 saved for Retirement, When Can I Retire?
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🎉 Are you ready to retire but unsure if you've saved enough? Ready to understand retirement planning at 50? 🤔
In this video, we tackle the question: "I'm 50 with $275,000 saved for Retirement, When Can I Retire?" 💰
Join us as we delve into retirement planning at 50 and discuss Retirement planning strategies to make the most of your Retirement savings as you approach retirement age.
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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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Ready to schedule your virtual consultation, click here: pearlwealthgroup.com/contact/ or email us at info@pearlwealthgroup.com
Great video, I’m 50, retired a while at 45. I have 35% of my capital investments in an IRA. 25% in index funds, and the balance spread across other investments acts. In cumulative of over $5m. I receive income from my rental properties too. Zero debt and all is going accordingly.
Awesome 👏 🤩
In about 20 years.
Sooner!
What I don’t understand is why they only have $275,000? With their salaries they should have much more!!
They probably started making more recently
Good question. Life is not always fair and your spend money on other things than investing
All situational which the best thing about retirement, it’s personal. Depends on spending, other income streams, risk tolerance…
Yes!
Keep it up Drew.
Yes I will!
I really want to see a 57 year old with 1.5 million scenario. With 95% of that as taxable 401k. That’s a full ten years before ability to draw 100% social security. Thanks for all these scenarios that you do by the way Drew.
Great content idea!!
Well, im in a similar spot. For me, i'm almost 50 with 1.2m. I think i'm going to retire at 55 , and start drawing that sucker down, cause if i keep working and postponing retirement, I worry about future RMD's and IRMA. I'll postpone social security as long as feasible, for the greater survivor benefit for my wife.
i am 61 with a little over 600k and just retired ... i have a pension of 17k/yr and a pia (at 67) of 3600/month ... all with NO DEBT !!! ... my expenses in retirement will be 70k/yr
I wish you the VERY BEST ...
what gave me the confidence i could retire was using a comprehensive software program which allowed me to fully understand my financial situation ... the program i chose was NewRetirement ... NewRetirement has both a Free version as well a paid version that is $120/yr (both are good, start with free then upgrade if you see value)... the advantage of having a program like NewRetirement is I am able to manipulate the inputs (savings, debt, expenses, investments, etc.) and see how the outcomes vary. Working the numbers gave me confidence ...
Before i took the final step of retiring with just a modest portfolio i spoke with a number of professionals such as Drew for that last piece of reassurance ...
You have done a great job of saving and are obviously quite intelligent ... good for you ... BEST OF LUCK ...
While no where near ideal for that age, I've seen far worse! I've seen several people i work with, have to work until 62 before they can retire, because more than 1, only had $300k @ age 62! So, they had to work until 62 so they could retire and be able to immediately draw social security. So it's a "double shaft", not much 401k, and locked into low social security payments for life.
I have this much at 37 years old while only making $62k a year. I couldn’t imagine ignoring investing that long
You're doing awesome!
By the time I can. Retire im going to Mexico. Cost of living is really low over there🎉😢
Not anymore 😭😭😭
I hope you like cartels!
@@NipItInTheBud100 I hear the cartel is always hiring with really good pay.😂😂
Scerios are nice. Curious. I'm 50, wife 57. Plan: Retire in 5 yrs.. 1.6 m in retirement now and putting away about 2300/month. SS at 62 for both. No debt, about 100k + in bank. Thinking about using 70k/year in retirement. Health insurance is the kicker...till 65. Ughh. And would like to see more videos on options and estimates etc for medical.
You are doing awesome, thanks for the content idea around medical!
Unfortunately I’m in a Defined Benefit pension. I started working there very young, I’m doubtful the funds will be there for distribution through the end of my lifetime. But I’ve got 17years in and if I leave it for the Defined Contribution plan instead-I’ll lose a ton.
Although they may be behind from what experts think they should have, by continuing the contributions they are making, I think this family is going to make it in retirement!!!! Thanks Drew!
Yes!
Am I the only one who utilizes an HSA as part of a retirement portfolio?
That's a smart move!
Depends, how much debt do you have? Is your house paid off? Do you want to travel and have other expensive lifestyle choices. If you are a home body with zero debts, paid off house, then it takes much less to retire on.
Very true
I hear pension I click a different video.
I understand
Not all pensions are great. Mine's only going to be around $1000mo, nothing to write home about. I'm not counting on it, or social security. I'm only counting on just my 401k. Anything else will just be "fun" money if it's there.
@@Sackattack_Smart!
Never
Soon!
In 50 yrs
Sweet
Never work until you die.
Not in this scenario
How about never, is never good with you?
Not in this scenario.
What idiots on this channel. I retired six years ago at 55 with $200K. I still have a mortgage, car payment, and sending my son to college. No problem. So far so good.
Kept all my money safe in the bank.
Three days past never
Nope. Sooner than you think.
Unfortunately I’m in a Defined Benefit pension. I started working there very young, I’m doubtful the funds will be there for distribution through the end of my lifetime. But I’ve got 17years in and if I leave it for the Defined Contribution plan instead-I’ll lose a ton.