4 rules to follow for an earlier retirement

[@annielin2894]

Now I understand you working for the public I am now interviewing for a customer service job from home my father said I am single I just need to be healthy not working for a toxic environment he wants me to be average

[@svtjunkie]

Hey Johnny, I thought you looked familiar when I came upon one of your vids. I remember seeing you now and then when I was in QSTF. You look great! Stay healthy physically and financially. Great vid as well.

[@RetireearlyNYC]

@@svtjunkie thanks! Never was in QSTF. But thanks! Haha

[@RetireearlyNYC]

@@svtjunkie TQTF?

[@svtjunkie]

@@RetireearlyNYC QSTF I was the training Sgt there.

[@RetireearlyNYC]

@@svtjunkie ah! good seeing you here lol. stay well!

[@po_o2789]

totally agree on higher positions come with more stress and responsibilities. Trading you health for money. Always take health over anything.

[@RetireearlyNYC]

@@po_o2789
Gotta know when enough is enough :)

[@annjean8709]

Great video and information!
Thank you for sharing.

[@RetireearlyNYC]

@@annjean8709 YW! Thanks for dropping by:)

[@mr.seanster]

Great advice. Thank you for sharing your thoughts and experiences. Any way I can contact you privately?

[@RetireearlyNYC]

@@mr.seanster sure. You’re not selling anything I hope? ;)

[@mr.seanster]

@@RetireearlyNYC not selling anything lol. Just got obsessed with your videos yesterday and kept on watching. Agreed with many of your points and look forward to retiring soon but never really say down to seriously consider

[@RetireearlyNYC]

@@mr.seanster [e-mail]

[@user-ll9qk2el4d]

A rule that you did not mention is choosing a spouse who shares the same financial goals as you do. It's very important to be on the same page regarding spending and saving. You also want to marry someone with a good job and can contribute to the family income.

[@RetireearlyNYC]

@@user-ll9qk2el4d absolutely!! That’s probably the biggest contributor to success!!! Thank you :)
But that may be a hard video to make. Kind of like how to raise kids. Quite touchy. I do have some ideas about the 2 topics but will have to approach the topics with caution ;)

[@RetireearlyNYC]

@@user-ll9qk2el4d
I think I’m going to title it as “how to marry rich!!” Another click bait ;)
Watch for some more angry people who react solely based on the title lmao

[@scottbaird5674]

Pensions help a lot. Lots of people do not make 6 figure salaries. Curious why quit at such a young age?

[@RetireearlyNYC]

Hi yes pensions do help a lot. However, a pension is simply another retirement plan that we contributed money into. It’s just another form of 401K. No cop I know is financially free solely bc of a pension. Everybody works at least part time.
Now, 2 pensions…from 2 civil servants. Yes.

[@RetireearlyNYC]

My wife retired early to be with the kids. And we always had a 20 year plan. Bc I could retire at 20, we agreed that she would be able to as well, and we worked toward that goal. She accomplished her goal a couple years ahead of time, stayed another year for good measure and retired at 19 years.
I retired 2-3 years after that to join her, be with the kids more, travel, do more reading and pick up hobbies, be with my mom, and bc making more money wouldn’t have made us any happier :)
We have our chosen lifestyle and we can easily maintain it.
In short, we retired early to be free. Free from jobs and free travel and free to spend more time with family :)

[@RetireearlyNYC]

Yes lots of people do not make 6 figures. But everybody can do things to retire sooner. Most people can cut somewhere and save more money.
Hope that helps. :)

[@teriscott685]

That's great,you did a good job,I retired at 55yrs,house paid off no debt,now I'm 66yrs still doing great

[@teriscott685]

I could retire early because I lived below my means,did what you guys did

[@annielin2894]

Johnny got the whole mouth of teeth intact that means he is healthy and rich! Only the rich people have money for their teeth!

[@RetireearlyNYC]

@@annielin2894
Haha. I brush and use water pic after every meal ;)

[@annielin2894]

@@RetireearlyNYC you are very fortunate because I have such an opposite life from everyone I came on tourist visa in Taiwan then expired then my mother was raped had a child and lost all her money from my sisters father; I was alone by my self 2-3 jobs from factory deli restaurant 13 14 hours a day paid for cuny college in cash and then got my green card when I met a women who helped me during my volunteer 911 all time I am in the USA I paid everything till I was 28 and then started paying tax and worked in office worked hard but not paying off because of politics I am at a cross road at age 50 working for dohmh most toxic environment in TB with two lawsuits pending I hope my next life time will be easier. I am interviewing for customer service remote job today wish me luck. All these immigrants are not all rich I just didn’t have the luck with half of my life!

[@RetireearlyNYC]

@@annielin2894 wow so sorry to hear that. And yes luck plays a part in all our lives. Luck/circumstances that we can’t control.
And yes good luck on the interview!

[@annielin2894]

@@RetireearlyNYC yeah can you imagine I survived and I am a taxpayer and a us citizen all these hurdles I endured I would never wish upon on anyone on this. I hope we live in a healthy happy life this is a very difficult generation for everyone

[@AdamJan-eq5ko]

Thank you
Can you make a video if you are 50 years old zero save and low income how would be fix it if there is option available!
Thank you

[@RetireearlyNYC]

@@AdamJan-eq5ko
I sure can. May take a while bc I have a whole list of topics I want to hit. And not knowing anything else about you, it would be just general tips on saving and investing. But I will certainly do one for you :)
And you are certainly not in a position too different from most immigrants. My parents and in-laws etc. None of us had anything but managed to pay off our houses. It can be done. Lots of “chi ku”. That’s Chinese for “eat bitterness.”

[@AdamJan-eq5ko]

@@RetireearlyNYC thank you so much
Yes please once have time that would be lovely to have some advice
Thank you again!

[@RetireearlyNYC]

@@AdamJan-eq5ko
Just a warning that when it comes it won’t be pretty. Not gonna lie. That’s a tough situation

[@SA-bi5pu]

👍

[@joezellerbach6845]

🎉🎉🎉🎉

[@HelloWorld-hb7yt]

Good advice. what do you think about the 4% withdraw rate. I just retired, a 46 years old with my wife and 2 kids...but i am always worry about do I have enough.?

[@RetireearlyNYC]

@@HelloWorld-hb7yt
You should see a pro and give them all your numbers. I saw 4 advisors before I left my job lol.
As for the 4% rule. It’s a general rule of thumb. I would go down to 3% esp during these times. Just to be sure. But it depends on your total numbers. Your income vs expenses mainly. Being that we’re both in our 40s and with kids, I would try to ere on the side of caution and limit myself to 3%. See where that goes. I can always increase next year if my portfolio is growing nicely.

[@RetireearlyNYC]

@@HelloWorld-hb7yt
Also, Add at least a 20% emergency expense to your annual budget and see if the 3% still works. I would feel pretty safe with that. But again I’m no professional;)

[@karlamcguire9070]

Yahoo! Great for you guys, love your travels! I suppose I'm in the semi-retired club. I'm doing the rentals and the airbnb and you are correct. NOT passive, still a bit of work. Clogged toilets, frozen pipes... the latest complaint was a squeeky dock!.. lol 😂

[@RetireearlyNYC]

@@karlamcguire9070
Sounds good! Good luck!!
It’s a lot of work, but can be worth your while :)

[@annielin2894]

Yeah I was short changed for 16 years so I can’t really compare my circumstances did not allow me to advance