I'm 52 with $250,000 saved for retirement, WHEN can I RETIRE?

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I'm 52 with $250,000 saved for retirement, WHEN can I RETIRE?
Looking forward to retirement but not sure if you have enough saved up to retire? In this video, we answer the burning question "I'm 52 with 250,000 saved for retirement, when can I retire?"
Retirement is a major financial milestone, and it's important to know if you have enough saved up to comfortably retire. We'll discuss factors such as your desired retirement lifestyle, healthcare costs in retirement, and claiming Social Security benefits to help determine if retirement is within reach.
If you're in a similar position and looking to retire soon, this video will provide valuable insights and actionable advice. Don't miss out on the opportunity to retire comfortably and with peace of mind. Tune in now and start planning your retirement today!
*Free Retirement Download: The Checklist to 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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❌ *Please make sure you talk with your CPA, Financial Advisor, Retirement Planner, or Investment Advisor Representative, before implementing any content from this channel. All videos are for informational and educational purposes only. None of the content, comments, responses, information, or any other item on this channel constitutes financial advice or recommendations. Please call Pearl Wealth Group at 813-807-5060 to go through your Retirement Income, Retirement Investments, or Retirement Plan in more detail.* ❌
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!
#retirementplanning #retirement #financialfreedom

Пікірлер: 67

@yourfinancialekg Жыл бұрын

**To schedule your virtual retirement and investment consultation with Drew, please select a day & time that works best for you: calendly.com/pearlwealthgroup/discoverycall **

@liftdancefitnessarts3765 8 ай бұрын

It looks like you don't have any availability in the next several months.

@onebridge7231 Жыл бұрын

When the U.S. Government rewards me to wait to retire at 70, then I know they are hoping I die before then. I’m taking SS as early as possible. I’d rather collect less longer than have full benefits for only 4 or 5 years.

@yourfinancialekg Жыл бұрын

Very true!

@70qq Жыл бұрын

why have 17 months expenses in cash 10 years before retirement ? ...and he has 4 times the median saved (average doesnt matter ever) ....no kids to leave anything to ...his expenses are 3k monthly , and 1800 SS at age 62 and 2500 pension = 4300 monthly...no kids and health issues , with 1300 extra each month in guaranteed money , PLUS a paid for house by then worth 350k , which would mean his monthly expenses would drop by alot ...PLUS his investments of prob 500k by age 62 ????? ....id get out the DAY his pension is guaranteed to be there even if it was in the future..... if youve already won the game , stop playing ..... tomorrow is not promised buddy , enjoy your life while you can

@yourfinancialekg Жыл бұрын

Great comment!

@tdgdbs1 Жыл бұрын

Precisely my sentiment; $4000 a month is great living outside the US. I've lived well in Vietnam and Mexico on half that amount.

@yourfinancialekg Жыл бұрын

@@tdgdbs1 Awesome!

@pathkris2984 Жыл бұрын

@@tdgdbs1 Make it $5000 per month and you will be able to live in the US if you live frugally (paid house and medicare assumed).

@sidneysfamily8760 3 ай бұрын

You need to start a channel

@rayanderson3164 Жыл бұрын

Awesome. So well explained Drew. I really wish I could see my numbers up there, but I really like the nuts-and-bolts videos that you do for people. It makes me feel like mine is a slam dunk. Thanks again.

@yourfinancialekg Жыл бұрын

You are a slam dunk my friend! 🏀

@davila0893 Жыл бұрын

Drew. Great video. Gives my hope.

@yourfinancialekg Жыл бұрын

I believe in you!

@dday11 Жыл бұрын

Good job. Stayed positive

@yourfinancialekg Жыл бұрын

Thank you for your comment and engagement with the channel!

@jakefromvirginia Жыл бұрын

Jake and Janine don’t want to travel any where today especially to work on a Monday.😂

@yourfinancialekg Жыл бұрын

😂

@sherryl104 Жыл бұрын

Drew, thank you for sharing your knowledge. It is helpful for people receiving a pension, but not a huge nest egg.

@yourfinancialekg Жыл бұрын

Thank you for watching Sherry!

@fxdnny Жыл бұрын

Good stuff as always, I wonder what Al would need to do if he didn’t have the pension.

@yourfinancialekg Жыл бұрын

Probably work longer.

@johnm8557 Жыл бұрын

Another good video, thanks for sharing. What does it cost to have a personalized EKG done? Thanks.

@yourfinancialekg Жыл бұрын

Hey John! Great question. We charge a one time fee to create the personalized ekg. Please email me at info@pearlwealthgroup.com and I can give you more specifics.

@jeanettebonf631 4 ай бұрын

Thank you so much God bless and 61

@yourfinancialekg 4 ай бұрын

Same to you!

@bobbyrichardson2068 Жыл бұрын

Drew when we set a consultation through your site here do we get to work with you or is it one of your associates? Also wanted to say you have great content and an easy to understand approach to laying out the data.

@yourfinancialekg Жыл бұрын

Directly with me. Thank you so much for watching!

@punisher6659 Жыл бұрын

Hello Drew.

@yourfinancialekg Жыл бұрын

Thanks for watching!

@kevinfestner6126 Жыл бұрын

Never, not enough......he'll need at least 1.25 million. If he gets a pension, he's fine. Use the fire movement as inspiration. Well done. Moi, I'm doomed working until I die. I figure I need 1.25 million without running out of funds.

@donaldlyons17 Жыл бұрын

I think most of us will need that much because housing 30 years from now might cost 800K if not 1 million per average house!!!!

@yourfinancialekg Жыл бұрын

That is so true!

@asandrik3124 Жыл бұрын

Drew, sorry sir but you do not seem to understand the U.S. Gov’t FERS Basic Annuity/retirement system. 1. Staying to 62 he gets 1.1% of his high three so his pension is different at 61 (1%) or 62 (1.1%) 2. Unless you’ve already taken it out, he has withdraws for Health Insurance, Dental & Vision so at best his $2,500 should be $2K/month and more likely $1.8K/month. 3. If he has Federal Long Term Care subtract $150-300 more each month from his base annuity. 4. Make “Al” a married Fed and you have to add a 5% reduction off the top for the spouse to receive 25% of the basic annuity as a survivor benefit. More likely, 10% off the top from the Base Annuity for a 50% survivor benefit. You MUST take one or the other for the spouse to keep health benefit’s if the Fed should pass first. Then subtract any life insurance (75% reduction is popular) and next thing you know that Married Fed’s pension is reduced to $1,000-1,250 or about 1/2 of what you are using! 5. Federal COLA is sliding scale (somewhat) linked to CPI but remember FERS gets a “Diet COLA” and when you average long term FERS COLA we’re talking about 1.8%. A GS-13 with 35-40 years should gross a Base annuity of $55-60K, especially in D.C. with higher locality pay, and should Net (including single Fed taxes) about $21-25K. This does not take out D.C. taxes. Also if he went out prior to 62 “Al” would have been eligible for the special supplement which would bridge his SS (about 80% of it) from his MRA until 62. Adjust his Basic Annuity by those factors and include the Special Supplement & it will completely change your strategies!

@4040smokey Жыл бұрын

Wow. That's crazy confusing.

@yourfinancialekg Жыл бұрын

😮

@asandrik3124 Жыл бұрын

@@4040smokey Trust me it took me the better part of a career to learn this! 🙄

@asandrik3124 Жыл бұрын

@@yourfinancialekg Seriously, if you ever want to speak about Federal Retirement I'd be happy to share a santized GRB retirement estimate with you. You would be shocked how much comes out of the FERS "Pension." Wouldn't be mine, but could estimate "AL's net."

@willkirk486 Жыл бұрын

Drew, is that budget analyzer software some thing that can be accessed?

@yourfinancialekg Жыл бұрын

Will, the software is called Retirement Analyzer. It is a professional based software program for financial advisors. Thanks for watching!

@MaybeLoveHate Жыл бұрын

What about this scenario? Say you have 500k in 403b/401k, are almost at full SS req since you earned max since 17 (33 years max contribution) and have 300k in play money, 50k emergency funds and around 30k in HSA. The play money is invested mostly in S&P500 and SCHD, with 50k extra in high yield savings account for emergencies. Your yearly expenses are around 36k, willing to relocate to cheaper countries to maintain this or less. Could this person retire at 50 as long as they are ok using the full 300k until they reach 59.5? Granted I understand that the markets could crash and throw a wrench in the plans but working enough to make 36k a year wouldn't be too bad in a worst-case scenario, right?

@chrisg4118 4 ай бұрын

I work for the government. I have no pension. That is pretty much the norm now. Where are these people getting pensions from? It just is not offered any more.

@ronmorosey672 Жыл бұрын

all great until the stock market tanks for a couple years , then so much for the average return

@yourfinancialekg Жыл бұрын

True!

@alvinf7739 Жыл бұрын

Hi . Great video. Is that 5,000 a month for 10 years traveling? Excellent to still have that much money left at 100 years of age

@yourfinancialekg Жыл бұрын

Thanks for watching! It is 5k annually for travel.

@alvinf7739 Жыл бұрын

Thank you. At 14:24 you said annual and then said 5,000 a month. I got confused but thanks for the update.

@closecatapult8472 Жыл бұрын

what method do you use to value existing real estate owned (current asset value) when computing net worth?

@yourfinancialekg Жыл бұрын

Great question. I use home value - mortgage. I only give real estate a 1% rate of return annually. Probably will be more but I’m being conservative.

@closecatapult8472 Жыл бұрын

@@yourfinancialekg appreciate it but where do you get the home value? for instance Realtor, Zillow, Redfin? For now, I use an average of these then reduce it by about 10%. Just wanted to know your method.

@larriveeman Жыл бұрын

have to figure in RMD unless his investments are in a roth

@yourfinancialekg Жыл бұрын

Very true!

@scottc3029 Ай бұрын

I’m 12 years old and I have $500 dollars saved. My expenses are zero, when can I retire?

@yourfinancialekg Ай бұрын

Never...

@chaleej5571 Жыл бұрын

Isnt 10 years from now about the time that Social Security may hit financial issues?

@yourfinancialekg Жыл бұрын

Very true. Need to be prudent in your planning.

@bruced.370 Жыл бұрын

Ehat percentage of people who are about to retire have a pension??

@yourfinancialekg Жыл бұрын

Recent Fed Survey showed a low figure. I believe in the 20%. So not many but more than you would think.

@teams3345 Жыл бұрын

We are a gay couple and retired with $3M and we are concerned. We do not want to leave any inheritances. We are 71 and 62 and take a month vacation each year. Usually cruising.

@yourfinancialekg Жыл бұрын

Thank you for the comment! Feel free to reach out to us if you would like to discuss your individual situation. Would be honored to help! Contact us here: info@pearlwealthgroup or pearlwealthgroup.com

@4040smokey Жыл бұрын

4% of 3M is $120K plus you both qualify for SS. Enjoy life. Sounds like you're not considering your vital years. Do the math. Have some fun.