Can I Retire at 55 with $650,000 in Retirement Savings?!?

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  • เผยแพร่เมื่อ 24 มี.ค. 2024
  • Can I Retire at 55 with $650,000 in Retirement Savings?!?
    *Free Retirement Download: The Checklist to Retirement:* 📊
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    Are you dreaming of an early retirement but unsure if it's feasible with your current retirement savings?
    In this video, we dive deep into the question, "Can I Retire at 55 with $650,000 in Retirement Savings?"
    Join us as we explore various retirement factors such as retirement lifestyle, retirement expenses, retirement investment strategies, and more to determine if early retirement is within reach with this amount of retirement savings.
    Whether you're just starting your retirement planning journey or nearing your retirement age, this video offers valuable insights and practical retirement tips to help you make informed retirement decisions about your financial 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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ความคิดเห็น • 48

  • @davidcopeland2896
    @davidcopeland2896 2 หลายเดือนก่อน +2

    You have to consider social security is based on 35 highest earning years. When you receive your social security statement it assumes you continue to work. If you are retiring early you have to add 0 on the years to include 35 years which might lower your assumption on your social security benefit.

  • @jhfit
    @jhfit 3 หลายเดือนก่อน +7

    Pretty soon you'll have people asking if they can retire at 30

    • @yourfinancialekg
      @yourfinancialekg  3 หลายเดือนก่อน +4

      That's the goal!

    • @jennsjourneys1
      @jennsjourneys1 3 หลายเดือนก่อน

      Omg. So funny! "Can I retire at 30 with $1"?! I'll watch that! 😅

    • @NipItInTheBud100
      @NipItInTheBud100 3 หลายเดือนก่อน +1

      Hey, if you can pull it off why not!!

    • @Ww8.3
      @Ww8.3 2 หลายเดือนก่อน +1

      You can just not off a retirement account lol

    • @thienthan324
      @thienthan324 หลายเดือนก่อน

      yes one can, just retire in the street

  • @glockman99
    @glockman99 3 หลายเดือนก่อน

    Great video. Go Rangers!!

  • @Ww8.3
    @Ww8.3 2 หลายเดือนก่อน +2

    Because life is expensive. Insurance costs money. Property taxes never go away.

  • @fasteddy3336
    @fasteddy3336 3 หลายเดือนก่อน +5

    I wish there was a company that still had pensions.

    • @larriveeman
      @larriveeman 3 หลายเดือนก่อน +1

      the fed's do, I have a nice one

    • @michaelperry7871
      @michaelperry7871 3 หลายเดือนก่อน

      The military

    • @vernshird711
      @vernshird711 3 หลายเดือนก่อน +1

      Most state gov'ts still offer pensions. Maryland state and county gov't offers pensions plus 401k and 457b. Education also offers a 403b.

    • @abrahams.lincoln6749
      @abrahams.lincoln6749 3 หลายเดือนก่อน +2

      Cops
      Teachers
      Firefighters
      UPS
      Utility workers
      DPW
      Auto workers
      Nurses
      Etc….

    • @yourfinancialekg
      @yourfinancialekg  3 หลายเดือนก่อน +1

      True Fast Eddy. Not many around anymore.

  • @yanzukmjy
    @yanzukmjy 3 หลายเดือนก่อน +2

    Go Phillies!!!

  • @jeffgagnon2622
    @jeffgagnon2622 3 หลายเดือนก่อน +2

    This was awesome, appreciate the detail, would have liked to see how health care costs in the bridge years changed the output.
    I feel ya on the minivan........go Dbacks

  • @NipItInTheBud100
    @NipItInTheBud100 3 หลายเดือนก่อน +3

    I hope this one doesn't have a pension in the plan!!...LOL

    • @yourfinancialekg
      @yourfinancialekg  3 หลายเดือนก่อน +3

      😂

    • @yourfinancialekg
      @yourfinancialekg  3 หลายเดือนก่อน +4

      I've got plenty in the works that don't as well!!

  • @cottontail132
    @cottontail132 3 หลายเดือนก่อน +2

    Waiting for a video from you on whether I can retire with 900k in savings at 48 years old. Need 32k a year to live abroad.
    Love all your videos❤🎉❤

  • @daveharness70
    @daveharness70 3 หลายเดือนก่อน +3

    No no no...to reverse mortgage in this scenario. For goodness sakes. They won't need that much money at 90-95. The spending doesn't continue to ramp up with inflation. Stop analyzing things like this! It is WRONG. They should be able to live off ONLY social security.

    • @yourfinancialekg
      @yourfinancialekg  3 หลายเดือนก่อน +2

      Going through multiple scenarios and having various options isn't wrong, its called good planning

    • @greenlantern1986
      @greenlantern1986 3 หลายเดือนก่อน

      ...wut

    • @edhcb9359
      @edhcb9359 3 หลายเดือนก่อน

      Math doesn’t lie. Reverse mortgage brokers do lie though. 😂

  • @Gambrills773
    @Gambrills773 3 หลายเดือนก่อน +2

    Let’s go Os

  • @hilarylevin623
    @hilarylevin623 3 หลายเดือนก่อน +1

    If one is not planning on retiring before 59.5 do you need a brokerage account or is a Roth just fine?

    • @joshuabritt5677
      @joshuabritt5677 3 หลายเดือนก่อน +1

      If you have a 401k. There is what's called the rule of 55. You can take your 401k at 55 years old with no penalties. I know you have to leave your job, and you can only use the 401k from that job until 59 and half. I don't know much about it. It's something to read up on.

    • @yourfinancialekg
      @yourfinancialekg  3 หลายเดือนก่อน +1

      Here is a video explaing: th-cam.com/video/dAjcxGga56E/w-d-xo.html

  • @marantz747
    @marantz747 3 หลายเดือนก่อน +1

    Beatles - Tell Me Why

  • @marantz747
    @marantz747 3 หลายเดือนก่อน +2

    Chicago White Sox

    • @yourfinancialekg
      @yourfinancialekg  3 หลายเดือนก่อน

      It's going to be a tough year for the Sox I'm afraid

    • @marantz747
      @marantz747 3 หลายเดือนก่อน

      As long as the Cubs don’t win I’m happy

  • @jimmyz5831
    @jimmyz5831 3 หลายเดือนก่อน +2

    No.

  • @jimrinard1969
    @jimrinard1969 3 หลายเดือนก่อน

    St. Louis Cardinals

  • @jennsjourneys1
    @jennsjourneys1 3 หลายเดือนก่อน +1

    I don't know why people just don't get a basic job of 20 hours a week or less that you can quit easily to travel, 00 stress 😮, and not touch your retirement. I'm going to do and sell Medicare part time. Let my money grow and grow and be there when I can't work at all. Especially if you're quitting work world before 70. I'm waiting until 70 to collect SS. Of course, I understand if you physically can't work at all or mentally can't

  • @greenlantern1986
    @greenlantern1986 3 หลายเดือนก่อน

    Can't wait to watch these kinds of videos in another 5 or 10 years and they stop having pensions in them.