Can I Retire at 55 with $600,000 In Retirement Savings??!! (WATCH OUT!!)
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- Опубліковано 11 чер 2024
- Can I Retire at 5 with $600,000 In Retirement Savings??!! (WATCH OUT!!)
Are you eyeing an early retirement but unsure if your savings are enough?
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In this video, we delve into the question: Can you retire at 55 with $600,000 saved for retirement? Maybe you are asking: How do I do financial planning for early retirement?
Join us as we break down the factors to consider when planning for early retirement, including retirement expenses, lifestyle choices, retirement investment strategies, and potential sources of retirement income.
We'll provide insights, tips, and considerations to help you make informed decisions about your retirement plans.
Whether you're nearing retirement age or just starting to think about retirement, this video offers valuable guidance to help you achieve your financial goals and enjoy a fulfilling retirement.
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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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I wish you did this without pensions.😢
More to come!
Damn, I waited all this time for this video to come out just to find the example is another pension….and not just one but TWO pensions! Not for me but great info!
Thanks for watching!
@@yourfinancialekg Not a fan of the click bait title but good video overall. Pensions should me mentioned in the title in my opinion in a video like this!!
The answer for “can I retire at xx with $yy” question will 100% be yes. However, the quality of your retirement life is THE question.
Very true
I agree with a lot of the comments do one with an average 401k balance and an average American income and a scenario of retiring at 62-67-70 with an average monthly expenses plz many subscribers will appreciate that
Thank you for watching!
Appreciate you doing this with the pension!
Of course!
Yes, sell everything and move to the Philippines
Let's go!
The average 401K acct balance for 55 is not that high. Do some of these for the average person. Like when can the average 55 yo old retire, using the average acct by age.
The avg might be around that much, but the median is much lower. That’s what always gets mixed up.
Average is higher but median is not. Thanks for watching!
@@yourfinancialekg oh I’m sure it is. Factors including billionaires which skews the whole picture. That’s why most tend to use Median for the average Joe. It’s more realistic for those that are watching let’s face it.
Dude, $600k is plenty. Just watch your spending. That's assuming your house is paid off and you have little to no debt and follow the overall prudent advice of this financial planner. He seems seems to be very smart and practical and careful about money.
They can move to Mexico and that should last them.
@@mattf3348 Yep
If not pensions they are pretty much broke😊😂
Thanks for watching!
It also can be price gouging or whatever corporations can get away with as well
True
Wow just to think I retired with those kinds of numbers last year. I do not have any debt like cars or a house. I am thinking will I make it? I will work part time at the Home Depot if needed.
You can do it!
Just hearing the word pension made me turn off. It’s not that I am against them..I think we all should have them but corporations took them all away and put profits ahead of people.
Thanks for watching and voicing your comment!! Come back for more.
Retire in the Philippines. Live like a king on $2,000/mo budget
Yes!
Do you have a video of retiring at 55 with $600,000 in a 401k? No pension and no other savings. Expenses $5000 mth.
I like that idea!! Video in the works.
@@yourfinancialekg This will be a good one to see. Thanks.
Excellent video. I have a large pension with COLA and I’m going next year…
Best of luck!
My guy loves pensions - something almost nobody watching has...
That's why we do videos with and without because everybody's situation is different.
Can’t you just rent an apartment for 1500-2000 live cheaper put say 280,000 in several strong dividend aristocrats/kings… live off SVOL 3000/month. 3000/.30 x 22.65 = 226,500.
Great point & Idea!
Why not claim at 62 if you make it to 70 pay social security back and start over at 70 if you can afford to
Good idea and something to consider
@@yourfinancialekg You can do that? What is the benefit of doing that? Wont it take about 10 years to recoup? (1,001 apologies for the rattling out these questions)
No.
Yes!
LOL No
Depends on one’s expenses!!
Yes, depends on expenses!
Fubar.
Great movie 🍿
No state income tax in Washington.
Sweet!
Retired at 48, set up a real estate HACK brought my bills and food to zero… that was key. Work 1 day a month as a fill in executive to top off as contribution ( easier then breathing) and extra $.
Travel as far as my MC will take me and avoid boats/RV…etc
Wow, great!
Can you, maybe, but would probably mean you are working a full time job managing investments haha
Maybe so