The Complete Guide to Early Retirement
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Күн бұрын🎉 Can I Retire at 55? The complete guide to early retirement 🎉
📺 "Can I Retire at 55? The complete guide to early retirement." If you've ever dreamed of achieving financial independence and retiring early, this retirement video is a must-watch! 🌤️
🔥 Retirement planning is a topic that affects all of us, and the concept of early retirement has captured the imagination of countless individuals seeking to break free from the traditional career path. In this comprehensive guide, I delve into the strategies, considerations, and practical steps necessary to retire comfortably at 55 or even earlier. 💼💤
📚 Throughout the video, I explore key topics, such as:
✅ Evaluating your financial readiness for early retirement
✅ Creating a robust retirement plan tailored to your goals
✅ Maximizing retirement investment opportunities to grow your nest egg
✅ Managing and minimizing financial risks during retirement
🌟 Whether you're in your 20s, 30s, or 40s and dreaming of early retirement, or even if you're already approaching your mid-50s and wondering if it's still possible, this video is designed to provide you with the knowledge, tools, and inspiration needed to take control of your retirement future and retire on your own terms. 💪💰
*Free Retirement Download: The Checklist to Retirement:* 📊
pearlwealthgroup.com/
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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**Ready to get your personalized Financial & Retirement EKG: pearlwealthgroup.com/ **🚀
Ready to schedule your virtual consultation, click here: pearlwealthgroup.com/contact/ or email us at info@pearlwealthgroup.com
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**More Retirement Information Here: pearlwealthgroup.com/blog/ ** 🧐
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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
@yourfinancialekg Жыл бұрын
**Free Retirement Download: The Checklist to Retirement:** 📊 pearlwealthgroup.com/
@rednoseplaya Жыл бұрын
This is the 1st time that I've heard about the 25 rule. I was contemplating taking retirement at age 60. This definitely effect my decision. 😮😮😮
@yourfinancialekg Жыл бұрын
Glad we can help!
@johnb1571 11 ай бұрын
@12:30, i would have done a reverse rollover from rollover IRA into the current 401k. thats what i did in Feb this yr and retired May 31st under rule off 55 but I am 54 until Dec. use my 401k until its depleted and then start with Roth. Have my taxable account as a backup. take SS whenever i feel like it and see if congress steps in on the sunset of the tax cut for end of 2025. No RMD's and no worries.
@yourfinancialekg 11 ай бұрын
Great job!
@vanguardvaluist2614 Жыл бұрын
Thank you for doing this breakdown! I appreciate you using a single person without pension model. Very helpful in clarifying my thoughts. Well done!
@yourfinancialekg Жыл бұрын
Thank you for watching!
@djpuplex Жыл бұрын
Covering your own health care for 10 years before Medicare kicks in would cost a fortune.
@yourfinancialekg Жыл бұрын
That’s why it’s important to keep the taxable income below the maximum threshold for ACA.
@stevemlejnek7073 Жыл бұрын
That's my plan!
@alvaroalvarez5009 Жыл бұрын
@@yourfinancialekgfor ACA purposes, is rental income considered as gross or net income?
@yourfinancialekg Жыл бұрын
@@alvaroalvarez5009 Great question, please check with you CPA or tax accountant for exact info (Sorry I can't give tax advice in comments...compliance issue)
@user-rp5cr1gc9z Жыл бұрын
You need to apply 12yr of COLA on the 2800 SS to be accurate since you are inflating expenses to future dollars
@yourfinancialekg Жыл бұрын
Great comment but cola is not guaranteed so I don’t like to apply
@kansaidan2302 Жыл бұрын
Numbers look doable when calculated for individual people on the ship. But what if the same calculations are performed on the TITANIC, the ship that we're all in. By their own forecast, government Debt will reach nearly $50 Trillion by 2033. Will Social Security Payments even be sustained at levels promised to people? Inflation at 3%? when federal printing presses will be red hot propping up the failing U.S. financial system (soon, with the largest government disbursements going to debt service). All the while people's net worth and purchasing power plummet. Not to mention when the U.S. petrodollar gets dumped sometime in the near future. Politicians and bureaucrats have painted us into a no-escape situation. In my opinion, Government mismanagement is insurmountable and fudging the numbers won't help us individually here unless you happen to be extraordinarily wealthy.
@yourfinancialekg Жыл бұрын
True
@stevemlejnek7073 Жыл бұрын
Great content, lousy marker!
@stevemlejnek7073 Жыл бұрын
Thanks for switching markers at 7 minutes!!!
@yourfinancialekg Жыл бұрын
@@stevemlejnek7073 Im running out of ink planning retirements! 😂
@toddhallam9598 Жыл бұрын
What about changing the age that you begin taking Social security? Would that help preserve your cash in the 500k example?
@yourfinancialekg Жыл бұрын
Great idea 💡! It certainly would help
@stephenlogan184 11 ай бұрын
You need to COLA the social security. It won’t stay at the $2800
@yourfinancialekg 11 ай бұрын
Very true, but I’m conservative in my planning since cola is not guaranteed
@Retiredtraveler1961 Жыл бұрын
I think your calculations are very optimistic. I have a handsome retirement due to my navy pension and VA disability, and now social security.we still have 1,500,000 in the bank which we haven’t touched. I think getting a 6% return on that money right now in 2023 is very very unrealistic. My running expenses are $3600 a month between taxes, condo, fees, utilities, etc. my last car last at 16 years, I finally broke down and bought a new Lexus RX 350 with 10% down and have a payment of 765 a month. I think it’s impossible to retire with anything less than 2 to 3,000,000 and being debt-free in today’s economy outside where you live in a low cost area.
@yourfinancialekg Жыл бұрын
Thank you for your service 🇺🇸!
@johnb1571 11 ай бұрын
I disagree with you. i am not saying you are wrong I just disagree. I am same boat as you (retired Army) but i dont have 1.5M in the bank (~500k in 401k, ~300k in Roth and 300k in taxable ). I have 2 mortgages, a Yukon, Camaro, Maserati and a class A RV with no payments. retired this yr with rule of 55. got to have a good plan. But thats me GL
@rowddyone3570 Жыл бұрын
Does rolling a Roth 401k into Roth IRA a taxable event at 59 1/2 when retiring at that age?
@yourfinancialekg Жыл бұрын
Not a taxable event
@marantz747 Жыл бұрын
$1million @6% = $60K a year. How did it get to zero? What am I missing? Liked the video
@yourfinancialekg Жыл бұрын
Inflation. Thank you for watching!!
@Parrottptg Жыл бұрын
6% average rate of return is low. 10% is realistic over time
@yourfinancialekg Жыл бұрын
I hope so!!!!
@bonanzatime Жыл бұрын
I get the impression you think about this stuff alot.😅😉
@yourfinancialekg Жыл бұрын
Too much 😂
@stevemlejnek7073 Жыл бұрын
Question: is the $2800 SS in today's dollars, or inflated for 12 years into the future for taking at age 67?
@yourfinancialekg Жыл бұрын
Todays dollars bc cola is not guaranteed
@stevemlejnek7073 Жыл бұрын
@@yourfinancialekg thank you for the answer. Since you presume (I think correctly) that there will be future inflation of goods and build into that an average 3%, then I think you really must also take a similar approach and take a conservative average cola to the projected future SS payments. By doing so, again conservatively, you will provide a better estimate to the income gap needed between estimated costs and estimated SS payments, which will of course change the math and projection for the better in each of the 500, 750 and 1M models. I recommend you provide another video for us with these adjustments for us to see and understand as further projections. You may well need another new black marker 😀
@yourfinancialekg Жыл бұрын
@@stevemlejnek7073 Markers have been ordered!
@aballantyne27 Жыл бұрын
Does the Rule of 55 apply to 403b or 457?
@yourfinancialekg Жыл бұрын
403b yes but check with plan admin. 457 doesn’t have 10% penalty just taxes.
@ryanchinh Жыл бұрын
I retired at 33 years old.
@yourfinancialekg Жыл бұрын
Wow
@economicdevelopmentplannin8715 Жыл бұрын
Question, Having retired early, what do you think is the actual minimum expenses yearly most Americans need to survive in retirement.
@maritoreyes6392 10 ай бұрын
@@economicdevelopmentplannin8715most people don’t live long, who cares about retirement? Just live and be happy I love working
@economicdevelopmentplannin8715 10 ай бұрын
@@maritoreyes6392 life expectancy is 75. That's decades on average. 10 decades if you're eating above average diet. I worked to buy freedom from working. Others work to 'buy more work'. To each his own
@kevinw543 Жыл бұрын
Is 72t needed for 401k?
@yourfinancialekg Жыл бұрын
If you roll 401k into IRA under 59.5, yes. Rule of 55 could apply if funds stay in 401k.
@kevinw543 Жыл бұрын
@@yourfinancialekg thanks,
@Fishfood007 11 ай бұрын
How can I retire at 45?
@yourfinancialekg 11 ай бұрын
Save
@Fishfood007 11 ай бұрын
@@yourfinancialekg lol yeah that doesn’t really fit my plan. I prefer buying real estate and growing income. Just need to learn how do benefits and everything else.
@user-rp5cr1gc9z Жыл бұрын
You need to apply 12yr of COLA on the 2800 SS to be accurate since you are inflating expenses to future dollars
@yourfinancialekg Жыл бұрын
Great comment but cola is not guaranteed so I don’t like to apply
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