My grandparents "retired" after spending their lives working as janitors at a local school. My grandpa got into a bad wreck that damaged his brain and he couldn't get a job without my grandma working there as well. Growing up poor can suck but they always had food on the table and wood for the heater. As a country, we've gotten weaker as men because times have been good. I'm no where near retirement age but I put a little away each year so I can live a little better than my grandparents could. Respect those before us.
Lots of people retire with 50k saved or even less its possible and they claim Social Security early too. Most financial advisors over estimate and inflate values for fear mongering. The average 65 year old only has 200k at best. My own father retired at 57 with 100k and he is still doing well at 75
I love Suze but you and I are on the same planet, Drew! Thank you for these videos. I’m so encouraged by what’s possible! My husband and I both enjoy our jobs, AND we don’t want to have to work until we’re too old or infirm to enjoy time traveling and activities. No tomorrow is promised but we have to be good stewards and prepare.
I’m single and 60 and plan to retire at 60 1/2. debit free no house but living with brother and son. My expenses are probably at $2000 or less. I have savings and 401k and IRA. These are above the median for my age. Looking forward to ME TIME FINALLY!!!
My wife and I live in Michigan, not close to retirement be we live very happily on 2k a month in a home we own and with monthly retirement contributions. Midwest living is nice!
Life expectancy is 78 I would say most men are ok with planning to 85 and women at 90... Success doesnt have to be 100% Im glad that your reasonable. 200k or even 100k is very reasonable to retire on.
Suzie Orman, just like our politicians, is completely out of touch with reality. I stopped listening to her long time ago - she was making me depressed. LOL
Everyone should be able to pay off their house when they retire. Providing they didn’t buy a $million home at 50. And don’t forget you still have property taxes and insurance even if that house is paid for, and that’s not cheap in blue states.
Can you retire with $100K? Yes, if all of your expenses are being paid by some other source of income, you have a few years left to live, you plan to live on the streets, or plan to live a life of crime.😅 In all other cases the answer is heck no. A lot of people say go overseas if you want to live on less, but its similar to saying just move to the midwest. The reality is that just like in the US, your quality of life will depend on how much your can spend. Also be aware of immigration costs.
I lived in France 10 years in my 20s and 30s. It was not cheap or easy and I had loads of energy. I devoted my life to learning the language and culture. I finally burned out on the sheer amount of effort of living in a culture that wasn't mine even though I loved it. I simply don't see how people can live in another country and think it's going to be easy. Acculturation is a really difficult process akin to a full time job
We NEED to discuss retiring with less BECAUSE most American's don't have more than 250k saved at 65 and that is generous. I want to make sure those individuals who haven't saved enough can retire even if that looks unconventional or not like the brochure.
@@yourfinancialekg parents are about average. They are happy and have a lifestyle they are comfortable with. Generational expectations of travel and vacation aren’t their thing
I have a scenario being single...income slightly over 100k, retire at 66 1 month FRA 66 10 month and have about 120k in IRA and 403B and house isnt paid off but worth 400k owe 195 rn. Cud I retire next year. I live modest occ trip US. Not too many countries want to visit but a few. My household expenses are abt 2300.00 living in GA I plan to retire end of next year or 1st week of Jan. to be vested to carry money put into my 403B. Can i retire then? Meant to also add that my social security shud be about 3k and my mortgage is pretty decent at a out 1300 with taxes and ins. No car payment and WILL bot have any debt except house.
My grandparents "retired" after spending their lives working as janitors at a local school. My grandpa got into a bad wreck that damaged his brain and he couldn't get a job without my grandma working there as well. Growing up poor can suck but they always had food on the table and wood for the heater. As a country, we've gotten weaker as men because times have been good. I'm no where near retirement age but I put a little away each year so I can live a little better than my grandparents could. Respect those before us.
Thanks for sharing!
Lots of people retire with 50k saved or even less its possible and they claim Social Security early too. Most financial advisors over estimate and inflate values for fear mongering. The average 65 year old only has 200k at best. My own father retired at 57 with 100k and he is still doing well at 75
but what is the standard of living with only SS income
I love Suze but you and I are on the same planet, Drew! Thank you for these videos. I’m so encouraged by what’s possible! My husband and I both enjoy our jobs, AND we don’t want to have to work until we’re too old or infirm to enjoy time traveling and activities. No tomorrow is promised but we have to be good stewards and prepare.
You can do it!
I’m single and 60 and plan to retire at 60 1/2. debit free no house but living with brother and son. My expenses are probably at $2000 or less. I have savings and 401k and IRA. These are above the median for my age. Looking forward to ME TIME FINALLY!!!
This great. I have an aunt who will live with her sister and that will help her.
Working to 65-67 seems to be a + with a paid off 🏡 👍🏿
My wife and I live in Michigan, not close to retirement be we live very happily on 2k a month in a home we own and with monthly retirement contributions. Midwest living is nice!
Sounds great!
Single. Expenses. $2500/month. Home paid for. No debt.
Thank you.
You're welcome!
It's sad that Shirley left Steve.
Lol 😂😂😂
😂😂😂😂
Life expectancy is 78 I would say most men are ok with planning to 85 and women at 90... Success doesnt have to be 100% Im glad that your reasonable. 200k or even 100k is very reasonable to retire on.
From birth yes life expectancy is in the mid to late 70's...but at 65 life expectancy is low to mid 80's.
Suzie Orman, just like our politicians, is completely out of touch with reality. I stopped listening to her long time ago - she was making me depressed. LOL
Everyone should be able to pay off their house when they retire. Providing they didn’t buy a $million home at 50. And don’t forget you still have property taxes and insurance even if that house is paid for, and that’s not cheap in blue states.
Not cheap in FL either and we are solid red
Exactly, not too cheap in Atlanta depending on where you live.
@@yourfinancialekg
HOUSE PAID BUT TAX, INS, HOA, AND MAINTENANCE IS 1K PER MONTH ... FLORIDA
Can you retire with $100K? Yes, if all of your expenses are being paid by some other source of income, you have a few years left to live, you plan to live on the streets, or plan to live a life of crime.😅
In all other cases the answer is heck no.
A lot of people say go overseas if you want to live on less, but its similar to saying just move to the midwest. The reality is that just like in the US, your quality of life will depend on how much your can spend. Also be aware of immigration costs.
I lived in France 10 years in my 20s and 30s. It was not cheap or easy and I had loads of energy. I devoted my life to learning the language and culture. I finally burned out on the sheer amount of effort of living in a culture that wasn't mine even though I loved it. I simply don't see how people can live in another country and think it's going to be easy. Acculturation is a really difficult process akin to a full time job
If Drew is seriously pushing this idea; he's being irresponsible.
I love that Drew is discussing unconventional options. For some people, retiring overseas to a less expensive country is a great option.
We NEED to discuss retiring with less BECAUSE most American's don't have more than 250k saved at 65 and that is generous. I want to make sure those individuals who haven't saved enough can retire even if that looks unconventional or not like the brochure.
@@yourfinancialekg parents are about average. They are happy and have a lifestyle they are comfortable with. Generational expectations of travel and vacation aren’t their thing
Love the video.
Thank you!
I have a scenario being single...income slightly over 100k, retire at 66 1 month FRA 66 10 month and have about 120k in IRA and 403B and house isnt paid off but worth 400k owe 195 rn. Cud I retire next year. I live modest occ trip US. Not too many countries want to visit but a few. My household expenses are abt 2300.00 living in GA
I plan to retire end of next year or 1st week of Jan. to be vested to carry money put into my 403B. Can i retire then?
Meant to also add that my social security shud be about 3k and my mortgage is pretty decent at a out 1300 with taxes and ins. No car payment and WILL bot have any debt except house.
Great idea for me to use!
Plz do! I will be looking fwd to hearing it! :)
What if we just say fuck it let the chips fall where they may