I was chomping at the bit waiting for 59.5. IT allowed me to do an in service rollover to an IRA which our 401K custodian did not allow until that age. I was able to actually invest the way I wanted. I am retired now at 60 ;-) and I have been making more in dividends than I was making in salary at my job.
56 here. Aiming at retiring at 62. House paid off, no debt, investing max in retirement account and the younger wife has our benefits covered until she is ready to retire after me.
For you early retirees, howare you going to pay for retiree medical before 65. Cobra is 1700/ month for me and my wife and only good for 18 months. The ACA under a Gold Plan is about 1,200/month for a high deductible plan, which is far less generous than my Employer Plan. You need a lot of Cash to retire early.
Retired at 54 last September..... On Cobra now for 18 months.... It is what it is. Once that's over will pay the ACA or look at options other countries. I also have two kids graduating this year from High School. I find mentally most people can't switch from working and not because they don't have enough money! The title of this is on point.... DONT WAIT! I have years to figure out what I want and how I want to doo it.... Once you retire if it is at 60 or 60 something it will take a bit for you to adjust and find what you want to do. I literally DO NOT CARE what other people have I am truly free now and doing whatever I want.... Good Luck
This is great advice for someone like me who maxes out retirement accounts and the HSA. I never would’ve considered private insurance outside of company coverage and using the HSA to pay for it! Instead of the 19yrs to go, I can now say I only have 10 more years, assuming there are no major life changes, LUV IT, THANK YOU!
Preparation is critical. I was laid off at 59.5. Happy Retirement to Me. Unless my consulting business is more successful then anticipated, I will do Roth conversions in 2025 while I am in a low tax bracket.
Retiring before 65 and paying for healthcare out of pocket. After some work changes I retired just before 64 and paying for insurance. Put me in the large category of those who are very happy with the decision. If you enjoy your job then sure continue working is fine. If you do not enjoy your job and you can afford it, look hard at retiring early.
For sure life is too short!!! And time is more important than a little more $$ for me… I’m retiring at 57.5 and am able to due so by being retired military and thus having Tricare/Tricare for life benefits. Also bought back my 20.5 yrs of military time so can retire early from Federal service without penalty…38 yr Federal employee. Can’t wait….Summer 2026!!!!
I admire your dedication to educating your audience. We all aim for financial stability and a better life. Achieving this is possible through wise investments, frugal living, and careful budgeting. I'm grateful that I learned the importance of working hard for financial freedom in my 20s. I don’t really care about my SS. It’s all about financial literacy.
I'm 59 1/2. I haven't changed a thing. We are still investing $54k / year in a combination of pre-tax and after-tax buckets and still keeping our risk profile, though last year, I moved more into bonds with my belief that interest rates are likely to settle down. It's tough to know exactly when to retire, but I just know that I'm not there yet.
I’m 64 - turn 65 in October where I would like to retire. Not sure where Roth plays in my equation but I would be drawing from my 401k. $20k in an HSA - Cobra Medical Care if I leave early.
If Cindy has a federal TSP account, she could have transfered some or all of her savings to an outside IRA before age 59.5. Also, i'm pretty sure TSP has a ROTH option. It just doesn't have as many investment options unless your willing to pay higher fees for that.
If you are making the highest salary in your career and are currently in the highest tax bracket, why would you pay taxes now to move to Roth IRA instead of taking distributions on the traditional while in a lower tax bracket when retired?
I found your channel through TH-cam suggested video. Your channel is very informative and interesting every video. I did the in house service conversion in my 401k in 2024. I did $3,000 in house conversion from traditional 401k to Roth 401k. It was easy and simple. That $3,000 is now $3,300. The label for this $3,30 is IRR. Each conversion will have their own date. Question, if I do in house conversion each year, will each conversion label own date? I am not yet 50 years old. It will be a long time to go for me to be 50 years old. I can’t wait, so I can add more into Roth 401k provision for 50 years old and older.
Do all of you early retirees have millions in your accounts? I have just under 2 at 49 but dont feel like I have anywhere near enough to retire anytime soon.
Why would a government employee who worked hard for so long be so concerned about leaving an inheritance to a son? She needs a psychologist not a financial advisor.
Is there a list of states you either do or don't provide service? I've looked on your website, but it would be nice to know whether the state we viewers live in is one of those and save your time and ours as far as making contact.
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Retired RN here . I did if ,collecting monthly my pension at age 55. Claimed my Social Security at 62.
Not wealthy, but comfortable financially .
My CFP stopped my hesitation in its tracks by telling me I have every asset except TIME. Retired at 60 and love the freedom.
I was chomping at the bit waiting for 59.5. IT allowed me to do an in service rollover to an IRA which our 401K custodian did not allow until that age. I was able to actually invest the way I wanted. I am retired now at 60 ;-) and I have been making more in dividends than I was making in salary at my job.
I retired at 61. Best decision I ever made.
60 1/2 here working part time no big debt , mortgage free , no loans . Gonna retire at 63 . Life is to short to keep working
56 here. Aiming at retiring at 62. House paid off, no debt, investing max in retirement account and the younger wife has our benefits covered until she is ready to retire after me.
For you early retirees, howare you going to pay for retiree medical before 65. Cobra is 1700/ month for me and my wife and only good for 18 months. The ACA under a Gold Plan is about 1,200/month for a high deductible plan, which is far less generous than my Employer Plan. You need a lot of Cash to retire early.
Retired at 54 last September..... On Cobra now for 18 months.... It is what it is. Once that's over will pay the ACA or look at options other countries. I also have two kids graduating this year from High School. I find mentally most people can't switch from working and not because they don't have enough money! The title of this is on point.... DONT WAIT! I have years to figure out what I want and how I want to doo it.... Once you retire if it is at 60 or 60 something it will take a bit for you to adjust and find what you want to do. I literally DO NOT CARE what other people have I am truly free now and doing whatever I want.... Good Luck
I retired at 49. Now I’m 56 and would not change a thing.
This is great advice for someone like me who maxes out retirement accounts and the HSA. I never would’ve considered private insurance outside of company coverage and using the HSA to pay for it! Instead of the 19yrs to go, I can now say I only have 10 more years, assuming there are no major life changes, LUV IT, THANK YOU!
Preparation is critical. I was laid off at 59.5. Happy Retirement to Me. Unless my consulting business is more successful then anticipated, I will do Roth conversions in 2025 while I am in a low tax bracket.
Retiring before 65 and paying for healthcare out of pocket. After some work changes I retired just before 64 and paying for insurance. Put me in the large category of those who are very happy with the decision. If you enjoy your job then sure continue working is fine. If you do not enjoy your job and you can afford it, look hard at retiring early.
For sure life is too short!!! And time is more important than a little more $$ for me… I’m retiring at 57.5 and am able to due so by being retired military and thus having Tricare/Tricare for life benefits. Also bought back my 20.5 yrs of military time so can retire early from Federal service without penalty…38 yr Federal employee. Can’t wait….Summer 2026!!!!
I'm so not worried about "over saving" for retirement.
Many retire at age 18 . Just need a parent with a basement.
I retired at 63 and get $1900/month in ACA premium credits.
I admire your dedication to educating your audience. We all aim for financial stability and a better life. Achieving this is possible through wise investments, frugal living, and careful budgeting. I'm grateful that I learned the importance of working hard for financial freedom in my 20s. I don’t really care about my SS. It’s all about financial literacy.
I’m 61 and I plan on working until I’m 70. I know too many broke old people, and I don’t want to be one of them.
I'm 59 1/2. I haven't changed a thing. We are still investing $54k / year in a combination of pre-tax and after-tax buckets and still keeping our risk profile, though last year, I moved more into bonds with my belief that interest rates are likely to settle down. It's tough to know exactly when to retire, but I just know that I'm not there yet.
Retire asap. You can’t buy time.
Retire at 55 to 60 in Siem Reap Cambodia
I’m 64 - turn 65 in October where I would like to retire. Not sure where Roth plays in my equation but I would be drawing from my 401k. $20k in an HSA - Cobra Medical Care if I leave early.
If Cindy has a federal TSP account, she could have transfered some or all of her savings to an outside IRA before age 59.5. Also, i'm pretty sure TSP has a ROTH option. It just doesn't have as many investment options unless your willing to pay higher fees for that.
If you are making the highest salary in your career and are currently in the highest tax bracket, why would you pay taxes now to move to Roth IRA instead of taking distributions on the traditional while in a lower tax bracket when retired?
You wouldn’t.
I am reducing hours on my second job
Great video thank you.
Glad you enjoyed it !
What about the rule of 55? Then there is no 10% penalty.
Thank you.
Good stuff, thank you for your content, will subscribe
Awesome, thank you!
I found your channel through TH-cam suggested video. Your channel is very informative and interesting every video. I did the in house service conversion in my 401k in 2024. I did $3,000 in house conversion from traditional 401k to Roth 401k. It was easy and simple. That $3,000 is now $3,300. The label for this $3,30 is IRR. Each conversion will have their own date. Question, if I do in house conversion each year, will each conversion label own date? I am not yet 50 years old. It will be a long time to go for me to be 50 years old. I can’t wait, so I can add more into Roth 401k provision for 50 years old and older.
can I open an HSA and use that for insurance if I plan to retire at 62?
What about rule of 55
Do all of you early retirees have millions in your accounts? I have just under 2 at 49 but dont feel like I have anywhere near enough to retire anytime soon.
Why would a government employee who worked hard for so long be so concerned about leaving an inheritance to a son? She needs a psychologist not a financial advisor.
Is there a list of states you either do or don't provide service? I've looked on your website, but it would be nice to know whether the state we viewers live in is one of those and save your time and ours as far as making contact.
Thanks for asking. We’re in all US States.
64 here, paid off house, but wife won't let me retire, she needs my good company health insurance.