You Won’t Retire Two Years Early-Here’s Why

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  • Опубликовано: 24 дек 2024

Комментарии • 53

  • @srconrad
    @srconrad 11 месяцев назад +45

    I will and I did! 😁 Retired in April of 2023 at 60 years of age. I was making fantastic money at a great job with great people. It was absolutely the right decision. My health has never been better. Every day is Saturday. I do what I want every single day.

  • @superduper9357
    @superduper9357 11 месяцев назад +17

    I am telling my boss that I am going to retire tomorrow, 2.30pm GMT as my boss is in the US. I am 56, I have a great job with excellent benefits but I want to go.

    • @brindleandbay
      @brindleandbay  11 месяцев назад +2

      Best of luck! Thanks for sharing your special moment!

  • @johnnyboyvan
    @johnnyboyvan 11 месяцев назад +6

    I just retired at 57! DB pension, no debts, homeowner, personal investments is the key 👌. After teaching high school for 32 years I hired a financial planner and he found more money 💰 then I anticipated. Key: hire a financial planner for ALL the numbers.

  • @callmeishmaelk767
    @callmeishmaelk767 11 месяцев назад +6

    If you don't have a pension you need to turn your portfolio into a pension in conjunction with your SS and base your expenses based on that basically guaranteed income. Not too complicated.

  • @xavier_lucas
    @xavier_lucas 11 месяцев назад +5

    I’m 54 and want to retire in 6 months. I have a $40K annuity, plus a 401k depleted to $200K of money that I’m not sure what I can do with at this point. My retirement plans seem to be out the window. Is it a good idea to get professional help?

  • @jobe8764
    @jobe8764 11 месяцев назад +3

    I live in Florida and nearly all the retired businessmen and employees that I have spoken to said full retirement was a sad mistake. They mostly suggested to reduce workload as one ages. Retirement is boring and made costly by the real unreported inflation. For many retirees, an active life on a golf course is a costly way to become a sickly alcoholic.

  • @chiplangowski3298
    @chiplangowski3298 11 месяцев назад +6

    For most people, early retirement is not possible due to the need for the health insurance tied to their job. If The US implemented a true national healthcare/heath insurance plan, millions would retire earlier.
    Which if you think about it - maybe that is why the politicians won't pass a national plan. They want people working and paying taxes as long as possible.

    • @brindleandbay
      @brindleandbay  11 месяцев назад +2

      Healthcare is a big reason people work longer .

  • @rayanderson3164
    @rayanderson3164 11 месяцев назад +2

    There is always a reason to stay. For us it is retiree medical at 55 in 13 months. I really think that I could have walked away at 50 but medical and another 5 years of service on my pension and 401K being maxed out are very attractive reasons to stay as well. In my world 55 is still young and it has been the goal since I was in my 20's. It helps to have stayed with the same employer that long.

    • @Antandthegrasshopper
      @Antandthegrasshopper 11 месяцев назад

      Stick to your plan. I had the same plan however one more year bug dragged it out to 58. Now retiring in 29 days.

    • @brindleandbay
      @brindleandbay  11 месяцев назад +1

      Case in point !

  • @joethecomputerguy1
    @joethecomputerguy1 11 месяцев назад +4

    I retired at 52 seven years ago. Retirement is good.

    • @brindleandbay
      @brindleandbay  11 месяцев назад +1

      I bet it is! Thanks for sharing

  • @VivaciousOM
    @VivaciousOM 3 месяца назад

    I could retire but I still love what I’m doing. At 65, there are three people older than me at a small company. Two are over 70. All still passionate about what we are doing. My freedom is knowing with confidence that I could retire on any given day.

  • @davidfolts5893
    @davidfolts5893 11 месяцев назад +2

    Thanks, Nick; I appreciate your outstanding content!

  • @mmabagain
    @mmabagain 11 месяцев назад +4

    Yep. I’m retiring this April. The only thing that concerns me is the cost of healthcare. The so called Affordable Care Act is not affordable at all for me! I guess I am going to be bringing it too much money with SS, pension and my wife working part time. Looking at using the medical share programs.

    • @brindleandbay
      @brindleandbay  11 месяцев назад

      Healthcare is a sincere challenge for sure.

  • @freedomworks3976
    @freedomworks3976 11 месяцев назад +3

    I retired twice already and found it highly overated. Now i hope to keep working as long as i live. You are dead on accurate about fixed income not being profitable enough to retire on the stock market is where its at. ❤

    • @brindleandbay
      @brindleandbay  11 месяцев назад +1

      It’s a gift when a person loves what they do. Thanks for sharing!

  • @pppaaattt8401
    @pppaaattt8401 11 месяцев назад

    Just came upon this video and look forward to viewing prior ones.
    Ty I just Liked & Subscribed

  • @josephjuno9555
    @josephjuno9555 11 месяцев назад +3

    I retired at 61 in July🎉 but went bsck to work Part-time in Jan as i had plsnned. I get full healthcare. Started my Pension (it was frozen wud not grow) i will] prob work this entire yr? I can take soc sec now ao when i want to stop i can. I work a few days and then am off 6 days in a row! So almost every othrr Week Off!

    • @brindleandbay
      @brindleandbay  11 месяцев назад

      That sounds like a great scenario!

  • @OurRetireEarlyJourney
    @OurRetireEarlyJourney 9 месяцев назад

    We are planning to retire 15yr and 13yrs early. We have a great chance of making it with a significant portfolio and a current savings rate of 38%+ monthly. It ales effort, but it’s possible!

    • @brindleandbay
      @brindleandbay  8 месяцев назад +1

      Congrats on such a high savings rate! Thanks for contributing to the conversation.

  • @PH-dm8ew
    @PH-dm8ew 6 месяцев назад

    so all money is in IRA, with small amount in ROTH. Does the sequential vs pro rata draw really matter for me?

    • @brindleandbay
      @brindleandbay  6 месяцев назад

      We find that it depends on what your future tax bracket horizon looks like ! But, it’s not difficult to determine once your financial narrative is organized into a plan.

  • @casmithc2
    @casmithc2 11 месяцев назад

    Great information.

  • @CaptainQueue
    @CaptainQueue 5 месяцев назад

    Retired at 71. Overcame foolish debt that penalized me for 30 years, and two devastating layoffs. Best financial decision I ever made was not retiring at 65. If I had it to do over I would've stayed until 73.

  • @Wasteoftime10
    @Wasteoftime10 11 месяцев назад +2

    The REAL reason people dont retire early is: Defined Pension Plans were done away in the private sector decades ago by The Capitalists, and the working class was sold 401K plans instead, shifting the responsibility of investing onto the workers. The results: The Capitalist Class has benefited greatly from this propaganda of Self-Funding Retirement, while the workers median TOTAL RETIREMENT SAVINGS for someone retiring today is just $16,000 per household, which is an unmitigated embarrassing disaster. THATS the reason.

    • @brindleandbay
      @brindleandbay  11 месяцев назад +1

      Defined benefit programs were really great for people , sadly very rare.

    • @Wasteoftime10
      @Wasteoftime10 11 месяцев назад

      @@brindleandbay Less than 1% of new college graduates in the private sector are now offered Defined Pension Plans.

    • @gwarlow
      @gwarlow 11 месяцев назад

      @Wasteoftime10 Where did you source the $16k median amount of retirement savings? That seems quite low to me.

  • @dwaynemauk566
    @dwaynemauk566 11 месяцев назад

    Our houses (have main home and rental) will be paid off when I turn 68, but want to retire when my wife turns 68, so I'll be 70. This will give us time to raise enough money to buy a newer car, throw in that last year and half to pour the max into retirement which aiming for $1m if things go right, $750K if it doesn't. We are on the path of totally being out of debt, but then will work part time to have play money. Also we are on a health plan that will also ensure we are in good health at retirement.

    • @brindleandbay
      @brindleandbay  11 месяцев назад

      Sounds like a plan! Thanks for sharing .

  • @STF68
    @STF68 11 месяцев назад +2

    I did at 55 and 5 months. IRS Rule of 55.

    • @daveharness70
      @daveharness70 11 месяцев назад

      Currently my plan as well! 53 currently. Drain down the 401k over the next 7-10 years. Control taxes....the rest in tax free accounts with SS after that (hopefully wait until 67).
      Did you have any hiccups with the Rule of 55 and your company's plan?

    • @brindleandbay
      @brindleandbay  11 месяцев назад +1

      Congratulations… a young retiree :)

  • @beachbum77762
    @beachbum77762 6 месяцев назад

    There is a third option. Work extra year, but enjoy them. Many people enjoy their work and may be happier than they will be when they retire. But if you have the money to retire and you want to keep working, then spend some money on enjoying your life. Buy new car, go a that vacation you've always dreamed of. Not everyone will be happier after they retire...

  • @BeeBo932
    @BeeBo932 9 месяцев назад

    What if we focused on having work we enjoy. Then everyday would be retirement.

  • @joseperez1085
    @joseperez1085 11 месяцев назад +1

    I have a great job and stock valuation is outstanding every year$100 to $200k thrown into my account, 62 years old but hard to walk away been at the same place great company for 35 years and I have a great team. Thinking 1 to two more years? I like what I do.

    • @brindleandbay
      @brindleandbay  11 месяцев назад +1

      Perfect example, case in point! Thanks for sharing!