The best way to know your retirement will last is to work to 65. All of these “financial advisors” are pushing retirement at 55 or 60. Technically it can be done but there’s virtually no room for error. Your better off working a couple of extra years and not be at the mercy of the markets. No one wants to spend retirement worrying about money….
65 yrs old, pension at 40K+, take 75K from 401(k) for 5 years so my rmd will keep me under irmaa, take ss at 70 for 50K per year, in those 5 years I'll convert a fair amount into roth, I'll have 100K plus annually, plus whatever bonus I want from the roth. Over 100K+ annually until I die.
I’m 55 from Sri Lanka but worked overseas in USA all my life. I have savings of $1,000,000 and I'm ready for retirement, only concerned about the soaring inflation. Is this enough to retire comfortably, or do I need some sort of money management??
Back in the early 90's I had quite a few acquaintances that were going to get rich 'day trading' They are all broke I put my money into a well managed pension scheme which is to this day 120% funded and pays 6% annually
Lets all remember that no matter how well you plan, if the economy, goverment, world order fails, so does all your/our plans. Turn on the news. Use it or lose it.
A lot of essential information squeezed into less than 12 minutes. Well done.
Thank you!
2:27 "popular entertainer Dave Ramsey" --> immediate sub 👍
The best way to know your retirement will last is to work to 65. All of these “financial advisors” are pushing retirement at 55 or 60. Technically it can be done but there’s virtually no room for error. Your better off working a couple of extra years and not be at the mercy of the markets. No one wants to spend retirement worrying about money….
I have a modest Pension, will have Soc Sec, may get Annuity so stable income floor. Won't every run out of money no matter what markets do?
Really good advice and some nuggets on how to top off my emergency fund during retirement. Thanks 🙏
Glad it was helpful!
I would call earmarked money, such as for a house, out of pocket medical or car repairs, something other than an emergency fund.
I am 78 and a widow in 2024. No debt.
65 yrs old, pension at 40K+, take 75K from 401(k) for 5 years so my rmd will keep me under irmaa, take ss at 70 for 50K per year, in those 5 years I'll convert a fair amount into roth, I'll have 100K plus annually, plus whatever bonus I want from the roth. Over 100K+ annually until I die.
I’m 55 from Sri Lanka but worked overseas in USA all my life. I have savings of $1,000,000 and I'm ready for retirement, only concerned about the soaring inflation. Is this enough to retire comfortably, or do I need some sort of money management??
What about sequence of returns risk? Is that a concern for you in developing retirement plans?
Retiring early will have an aggressive withdraw strategy till FRA. At that point I don’t expect to need to withdraw even 4%. At least that’s the plan.
Back in the early 90's I had quite a few acquaintances that were going to get rich 'day trading'
They are all broke
I put my money into a well managed pension scheme which is to this day 120% funded and pays 6% annually
Personally, I don’t think it’s ok to have a mortgage in retirement.
Lets all remember that no matter how well you plan, if the economy, goverment, world order fails, so does all your/our plans.
Turn on the news. Use it or lose it.
Good news. Most of us are gone by then.