You Know You're Ready to Retire Now When You Can Answer YES to These 4 Questions

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Жыл бұрын

If you can answer YES to these 4 simple questions, then everything may be aligned for you to retire now. Not in a year, but right now. The first one is the obvious one you may already be asking yourself, but the third and fourth might not be something you’ve put much thought into.
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Пікірлер: 44

@StreamlineFinancial Жыл бұрын

If you'd like to review your retirement plan, reach out by clicking the "Get Started" button here : streamlineplanning.com

@outdoorguy845 Жыл бұрын

Just remember one thing. A bad day of fishing is still better than a good day at work

@holidaytinn Жыл бұрын

I recently retired from teaching for 25 years at age 55. The diagram that you drew with the circles hit home for me. That explained exactly how I felt about teaching at the end of my career. Most teachers keep working until they are 61 or older. My observations about that is that most of my colleagues have children that they are still putting through college, or Adult children still living with them that are well into their late 20’s and 30”s . My wife and I chose not to have children. I don’t have that adult child responsibility. I live comfortably on my pension. I could have stayed working if was into being greedy. Some people work way too long because they want their retirement to be something like traveling the French Riviera drinking champagne and eating caviar. I’m happy with what I have. No investments, no tax problems, very little debt. I think your questions complicate the retirement decision more than it needs too. I built a camper van out of an old service van and I now travel and have adventures very inexpensively.

@toddspangler6669 Жыл бұрын

2:13 proceeds to draw a crude version of the death star. 😅

@user-bs1lj3kv7h Жыл бұрын

Thank you for making some content that is not always “the math”. I like the “have you had enough?” question. I am in my final 16 months to retire at 55.5 and keep thinking I am “one bad day away” from that limit. Until then I am focusing on staying highly engaged and coaching / mentoring the new / younger associates at our company. I found this gives me joy and let’s me play a bit of a game towards downloading my 3 decades of experience to the next generation. I find myself saying “thank you” so much more as I am very mindful of the countdown!

@StreamlineFinancial Жыл бұрын

That’s incredible. I love that your serving/mentoring others. Thanks for sharing this.

@truthjustice3313 Жыл бұрын

Good points, but you missed the biggest issue in the US. The dismal healthcare system. If you retire before 65 with no subsidized healthcare, and the most recent tax year had high income, one is looking at significant premiums with very high deductibles. So, one needs to budget for that. $30k out of pocket before coverage. I'm good on the 4 points you covered.

@KaleyandAddi 3 ай бұрын

#2 Have I had enough? Yes, this really resonates with me.

@nitkama818 Жыл бұрын

Finances is not the only thing and NO ONE KNOWS, how much we need in future and how long? I know for you, this is a busuness and your bread-butter, so keep it on, the person who has earned enough and lived respectfully without any debt, can very well plan everything and can live with minimum and happyly at the same time.....

@barbiec4312 Жыл бұрын

Unfortunately, we are in stage 3 and it isn’t pretty. 😂 We are together 24/7 because he has no outside friends or interests. It is an adjustment and we are getting through it.

@StreamlineFinancial Жыл бұрын

Thank you for sharing.

@abelurban0825 Жыл бұрын

The circle analysis was on point with my reality!

@larriveeman Жыл бұрын

i am willing to take more risk as I am debt free and have a great fed pension, with health insurance at the same rate as when I was working, not taking SS until FRA

@alexanderbailey8914 Жыл бұрын

Same for me and my wife. Won’t really need to touch FERS for at least 7 yrs. Have 2 Pensions and SS for both.

@blackbeardpapa9547 Жыл бұрын

Good video... I don't have enough for retirement...not yet, but God i am trying

@rexboaden1441 Жыл бұрын

Number 1, “do I have enough?” Also depends on an aspect of wealth not mentioned here; Health. Number 3, “do I have enough to do?”, never fear, with all that freed up time new possibilities present themselves. Just have an attitude of curiosity, that the world is an utterly fascinating place. Even just going back to work part time can provide structure to your time, and a reason to get up out of bed in the morning.

@gingerkilkus Жыл бұрын

The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.

@johnb1571 Жыл бұрын

Yes x4. completed reverse IRA rollers to current 401k. will retire May 31st under rule of 55 and have maxed this yrs 401k contribution as well. Also retired military so have healthcare covered. Cant wait!!

@DJWaldron Жыл бұрын

Age 63 - Yes to 1 and 2; No to 3, Unsure of 4.

@mikerapp8163 Жыл бұрын

Absolutely. The four points you cover was exactly what I considered before retiring. Answered yes. Did it. Am very happy

@StreamlineFinancial Жыл бұрын

Congrats, Mike!

@joseperez1085 Жыл бұрын

Number 3 is huge, idle hands, depression.

@curtsmith3136 Жыл бұрын

I appreciate your consise analysis and the perspective you convey in your videos. Great stuff! Where does the dashboard come from that you display at about 0:40?

@remitremblay2091 Жыл бұрын

Great video…especially about the spouse! Hahaha, we decided to stage our retirement dates…so 1 of us went 3 years ago, figured out what to do with retirement life…and now, its my time! It takes courage…and abnegation…you need to let go of quite a few things…to open up to NEW things!

@randolphh8005 Жыл бұрын

A little old fashioned on the couple thing. Many couples now both work and both retire on a similar timeline. We both have recently retired from our careers, and are definitely in the “go-go” period. The major adjustment is the pace of life slowing which is 99% positive, but requires a different attitude. As a couple we are better than ever.

@michaeltollen588 6 ай бұрын

What to do is my biggest question.

@DillyPutty Жыл бұрын

If you are capable of amassing a portfolio to retire early, you should be capable of finding something rewarding to do in retirement. First world problems. Spending more time with your spouse is an adjustment; I guess you find out how compatible you really are. 😉

@skhend6310 Жыл бұрын

Thanks

@robbiewillford4601 Жыл бұрын

Do I have enough to do? That question is the one that interests me.

@rayhiggins7938 Жыл бұрын

Thank you for your videos. I really enjoy them. I retired in February and am hitting my deferred homeowner task list pretty hard. My concern for retirement is to find my purpose for this stage of my life. I signed up for your "FIND YOUR PURPOSE IN RETIREMENT" program and am on the waitlist. Any idea as to when to run the program again?

@notyet2345 Жыл бұрын

I had 4 criteria that needed to be met before I would allow myself to retire early 1. I needed to be debt free including mortgage 2. I needed to have low monthly expenses 3. I needed to have multiple income sources 4. I needed to have a healthy savings and investment portfolio Once I accomplished all four, I pulled the trigger. Im now semi-retired living off rental income and side hustles The reason I need all four items in place was because it gave me contingency plans. If any one, two or three of those things failed, it would be much easier to recover if I had at least one of the four available to me. In other words, it was important for me to have contingency plans in place and because I do, my "retirement" is worry free and I have no regrets retiring early.

@blackbeardpapa9547 Жыл бұрын

good stuff as always. Unfortunately for me , as a freelancer at 56 I don't have enough. You should make a video for freelancers

@nh154321 7 ай бұрын

Yes,yes,yes,yes . Retiring in 3 months at 43. Can’t wait to create and live my dream life traveling the world with my husband having fun while still young and healthy.

@lynnwalters4801 Жыл бұрын

Why am I terrified of not having a job?

@riodejaneiro7675 Жыл бұрын

Becasue a job is what kept you alive (able to pay your bills) all your life. :)

@davelord8039 Жыл бұрын

I have been trying to get a withdrawal plan and tax plan together cant seem to find the one place that will do it all.

@Sangria38 Жыл бұрын

I am fed up with the majority of KZfaq financial advisors who only address Millionaires. You will someday realize who your audience is, it's not millionaires.

@teresaslack4750 5 ай бұрын

@cindyhenry1410 Жыл бұрын

How do you know if you have enough???

@johngill2853 Жыл бұрын

Your going to need help or do some research. It's not something that can be explained in a couple of sentences generally

@toddspangler6669 Жыл бұрын

Enough money? Just write down all your bills, housing, food, insurance, etc. Figure that out and there are free online retirement calculators you can use to see if you'll have enough that project years in the future and calculate estimated inflation. I hope that helps.

@HALWG51 Жыл бұрын

You never will know.