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.
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.
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.
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.
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?
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.
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.
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.
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.
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.
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. ❤
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!
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!
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.
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.
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.
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.
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?
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...
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.
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.
We’re all jealous! lol
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.
Best of luck! Thanks for sharing your special moment!
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.
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.
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?
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.
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.
Healthcare is a big reason people work longer .
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.
Stick to your plan. I had the same plan however one more year bug dragged it out to 58. Now retiring in 29 days.
Case in point !
I retired at 52 seven years ago. Retirement is good.
I bet it is! Thanks for sharing
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.
True freedom indeed!
Thanks, Nick; I appreciate your outstanding content!
I appreciate that!
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.
Healthcare is a sincere challenge for sure.
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. ❤
It’s a gift when a person loves what they do. Thanks for sharing!
Just came upon this video and look forward to viewing prior ones.
Ty I just Liked & Subscribed
Thank you!
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!
That sounds like a great scenario!
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!
Congrats on such a high savings rate! Thanks for contributing to the conversation.
so all money is in IRA, with small amount in ROTH. Does the sequential vs pro rata draw really matter for me?
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.
Great information.
Thanks for watching!
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.
Congrats!
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.
Defined benefit programs were really great for people , sadly very rare.
@@brindleandbay Less than 1% of new college graduates in the private sector are now offered Defined Pension Plans.
@Wasteoftime10 Where did you source the $16k median amount of retirement savings? That seems quite low to me.
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.
Sounds like a plan! Thanks for sharing .
I did at 55 and 5 months. IRS Rule of 55.
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?
Congratulations… a young retiree :)
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...
So true !
What if we focused on having work we enjoy. Then everyday would be retirement.
Agreed!
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.
Perfect example, case in point! Thanks for sharing!