Love your videos! I've watched a ton now. Just had a thought @31:38, it might be interesting/valuable to call out what the withdrawal rate is for the given expenses vs retirement investments (or at least the initial withdrawal rate, knowing it will change as inflation and returns impact the amounts). Might give people an easy way to "personalize" and compare their own scenario.
Why are their monthly expenses so much with paid off home? Our expenses were never that even when we had a mortgage. Also enjoyed hearing the lesser amount as the saved amount. Closer to reality. I was thinking of taking social security at 65 when I get medicare.
My Property Taxes are almost 20K Utilities, one of the highest in the Nation, Add to that, one of the Highest State Income Tax Rates and Sales Tax....... Adds up quickly
This is encouraging for me. Will turn 62 in spring with $960,000.00 in retirement savings. Single, ZERO debt. Would LOVE to do a so called "soft" retirement at 62..."retire" from my full time job of 30 years, start taking RMDS, and pickup some fun part time job, say 15 hours or so a week, working on my terms.
If you are using real world scenarios for savings & age, please use real world required monthly income. Not everyone can possibly be $5000 average joe.
No they don't. Maybe you do, but a very high percentage of people can live comfortably in retirement on a million or less. To use a blanket statement of how much everyone needs is dumb. Every situation is different
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Love your videos! I've watched a ton now. Just had a thought @31:38, it might be interesting/valuable to call out what the withdrawal rate is for the given expenses vs retirement investments (or at least the initial withdrawal rate, knowing it will change as inflation and returns impact the amounts). Might give people an easy way to "personalize" and compare their own scenario.
Great point!
This is fascinating to me. How much would it cost me to have you do this for me?
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For the 6% ROR in your calculations, what compounding frequency are you using?
Compound not simple
Why are their monthly expenses so much with paid off home? Our expenses were never that even when we had a mortgage. Also enjoyed hearing the lesser amount as the saved amount. Closer to reality. I was thinking of taking social security at 65 when I get medicare.
Everybody is different and that includes spending. Cost of living in states make a big difference. Thanks for watching!
My Property Taxes are almost 20K
Utilities, one of the highest in the Nation,
Add to that, one of the Highest State Income Tax Rates and Sales Tax.......
Adds up quickly
@@METVWETV you must live in a millipn dollar grand estate. I don't and never will.
And at what time did you talk to GOD... ON your expiration date..
Enjoy your life. GOD will take care of you..
Love this! Psalm 23:1
@@yourfinancialekg
The Lord is my shepherd; I shall not want.
Hi
This is encouraging for me. Will turn 62 in spring with $960,000.00 in retirement savings. Single, ZERO debt. Would LOVE to do a so called "soft" retirement at 62..."retire" from my full time job of 30 years, start taking RMDS, and pickup some fun part time job, say 15 hours or so a week, working on my terms.
Good stuff. Best of luck and enjoy - you earned it.
Awesome!!
65 fir us 400k in a roth.. ill probably work a pt job 15 hrs a week fir a couple years
Awesome!
If you are using real world scenarios for savings & age, please use real world required monthly income. Not everyone can possibly be $5000 average joe.
I use real world scenarios. And that includes expenses.
It amazes me that a couple only needs $50 a yr but a single person doesn't need $25k a yr. Lol 😂😅
PPL need about 3 mil to retire in comfort.
False
No they don't. Maybe you do, but a very high percentage of people can live comfortably in retirement on a million or less. To use a blanket statement of how much everyone needs is dumb. Every situation is different
That seems like a lot of everyone to achieve.
@XDetoursX
Hoping you don't call me stupid or anything but didn't
You just do exactly that 🤔
$1M should work with SS at 62.
Yes!
@@yourfinancialekg If they have no debt.
Ebriii