How to Retire With Enough Money (The Truth)
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- Опубликовано: 7 авг 2024
- Do you know if you will have enough money to retire? How do you even get enough to retire? We look at how in this video.
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Are you on track to retire with enough money?!?
Need help with your retirement plan? Find an advisor at Nectarine* ➝ hellonectarine.com/r/penniesnotperfection
I retired 3 months ago at 56. It's glorious. I spend time with the grandkids. I've been on 2 trips and have 2 more trips planned this year. My best advice.. live on your social security and a side hustle. I have a pretty passive side hustle that I enjoy. I only go into my retirement savings for travel and home repairs. Also, pay off your house before you retire! Retirement should be stress free and fun. I'm healthier now then I ever have been. 🎉
People don’t understand this bit so true
This video is so important. Never count on SSI in the future count on yourself only. All people in their 20’s need to watch this video 😊❤😊
Yes!!!
Absolutely . You are the bank and the bank is you
Personally, I know I can't NOT work. Even if it's part time or seasonal, I'd need to be doing something "productive" & social.
With all that said, I don't see my retirement number being more than $800k (across retirement accounts). I'd also be working on building a nest egg in my HYSA to pull from in the case of a market downturn.
Oh for sure, lots of people are like this! Or if you don't work you need to find something to do like volunteer. I think sitting around and doing nothing is bad for many people.
Sounds like you've got a good plan!
Ok, here goes... My retirement plan: I plan to retire. Wow, that was easy.
Kidding aside, We didn't have a firm plan. We're not really into things so it was easy for us to live a modest lifestyle avoiding debt and invest a fair percentage of our income. The idea being that we'll live a life that lets us do the things important to us, invest what we can, and come retirement time we'll adjust our lifestyle to match the funds available. We were investing somewhere a little over 20% of our income (we were also making up for lost time) so we knew we were on a fairly good path. We may have overshot the mark a bit. I retired last month and we could give ourselves a nice bit of a raise even before social security is considered. I maybe could have retired a little earlier but until very recently I loved what I was doing and if you told me I had to quit I'd have been in the next day doing the same work for free. But a couple key people left, the company started changing. So it was time.
I retired at the age of 58 at the end of June 2022. I worked in healthcare for 35 years. Working through the pandemic nearly destroyed me. Thankfully we had planned well and I was able to take early retirement.
Glad to hear you were able to retire especially after the last few years of work. Enjoy your well deserved retirement!
If you are comfortable, I’d love to hear what number you hit that allowed you to retire!
@@PenniesNotPerfection Retired with about $1.1M for two people. We had an advisor from Morgan Stanley in our corner. Maxed 401k for many years and then saved additional in index funds in taxable account. Our rate of return has been around 20% percent per year in the taxable account over the last 10 years.
@@PenniesNotPerfection Retired with about $1.1M.
@@PenniesNotPerfection I retired with over a million dollar plus.
Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires
Ok, here goes... My retirement plan: I plan to retire. Wow, that was easy.
Kidding aside, We didn't have a firm plan. We're not really into things so it was easy for us to live a modest lifestyle avoiding debt and invest a fair percentage of our income. The idea being that we'll live a life that lets us do the things important to us, invest what we can, and come retirement time we'll adjust our lifestyle to match the funds available. We were investing somewhere a little over 20% of our income (we were also making up for lost time) so we knew we were on a fairly good path. We may have overshot the mark a bit. I retired last month and we could give ourselves a nice bit of a raise even before social security is considered. I maybe could have retired a little earlier but until very recently I loved what I was doing and if you told me I had to quit I'd have been in the next day doing the same work for free. But a couple key people left, the company started changing. So it was time.
Sounds like you did well!