Ari, really appreciate these videos! Quite helpful. Would love a similar video with perspective from retirees in their 40s (and/or case studies of clients who’ve confidently done so)
yup yup , closing out chapters of your life ... that sounds good to me. i am nowhere near retiring but i can't wait for some personnel stuff to finish up(maybe a year left). and then then the 3 big projects at work to finish up( maybe 2 years on that) if that is all good i am going to do another big assessment. if i am on track, there is another personal project i would be ready to do. that's as far as i have "planned" though about 2-4 big picture years. still not ready for retirement at that point of curse.
I’ve saved a lot over the years, but I’m still unsure if it’s enough. I’m not sure how much I should be pulling from my portfolio each year without running out of money. It’s so tough to figure out. Any advice?
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk
Agreed, I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $3m retirement goal after subsequent investments to date
Thanks for sharing your experience! I've been managing my portfolio myself, but it's not working out. Do you have any recommendations for a good investment advisor? I could really use some help
My CFA, Joseph Nick Cahill, is a renowned figure in his field. I recommend researching his name online; you'll find all his credentials and everything you need to work with a reliable professional. With many years of experience, he is a valuable resource for anyone looking to navigate the financial market.
Thank you so much for the suggestion! I really needed it. I looked him up on Google and explored his website; he has an impressive background in investments. I've sent him an email, and I hope to hear back from him soon
@@susanlee594 Per a Forbes article.... The rule of 55 is an IRS guideline that allows you to avoid paying the 10% early withdrawal penalty on 401(k) and 403(b) retirement accounts if you leave your job during or after the calendar year you turn 55.
@@susanlee594 If you turn 55 (or older) during the calendar year you lose or leave your job, you can begin taking distributions from your 401(k) without paying the early withdrawal penalty. There are some nuances to the rule; google it.
I’m 64, wife is 65. Both recently retired. House paid off. We have 2 old cars that are paid for. No children. Our retirement portfolio today is invested in various stocks, bonds, mutual funds and cash. How much can we safely spend per month without risking running out of money?
i know i made this comment before BUT i still cant find information on SUPER early retirement like 25 to 30 year old. say you win a few min in the lottery or play pro sport and made 6 million or your parent left you a few million. no one talk about it like do you do 2 or 3 percent becosue you will not get SS, or how do you plan for 70 years of retirement, things like that.
You just ignore SS and be more conservative... I personally would just live off dividends at that point (1.5% from SP500) and maybe a 0.5% withdrawal. Only thing worth doing with SS is maxing out the 90% bracket, then ignoring it, because you literally lose like 70% of everything going into SS after that point.. From a hedonic treadmill perspective, it's going to be nicer if you start at a lower earnings and then it continues to grow throughout your life.. if you take only 1.5% early on your portfolio will continue to grow and you'd be making more each year by quite a bit. Then when you hit different age milestones look at maybe increasing withdrawal percentages. I probably won't retire until my mid 40s or early 50s but I'd pretty much still do about the same and maybe earn income on the side from my hobbies.
Honestly, I feel that if it was a windfall and you’re not used to planning that amount of money, it would totally make sense to hire a reputable financial advisor. So many stories of people that ‘hit it big’ just to have poor financial management skills and end up with little or nothing left in a handful of years.
I not rich. But I was just trying to figure out how you do it. If it was not a huge amount of money. Like 5 to 10 million I thinking off the second string pro athlete or parents leave then some money. Or a few million from bitcoin.
I'm already retired with an excellent pension, cola, retirees healthcare, 457, ira, and ss coming in 2 years. Needless to say, I'm pretty well set. But I do enjoy the information you and James put out. Thank you!!
I'm watching this at 30 years old 😮🍿🍿🥤.
These short stories are good and the strong summaries/tie-in with a financial/lifestyle concept help. Keep up the good work!
@@DougHExcel thank you
Ari, really appreciate these videos! Quite helpful. Would love a similar video with perspective from retirees in their 40s (and/or case studies of clients who’ve confidently done so)
Great suggestion!
Yes! I’m in my 40s and would love to see more videos I can relate to.
The stories you share are spectacular! They help to connect the dots and evaluate variables when contemplating an early retirement. Thanks Ari!
@@woodsparker7902 thank you!!🙏🏻
James, I too am a CFP(R) practitioner and I appreciate your stories even as I think about my own retirement next year.
My name is Ari, but James is the founder!
yup yup , closing out chapters of your life ... that sounds good to me.
i am nowhere near retiring but i can't wait for some personnel stuff to finish up(maybe a year left). and then then the 3 big projects at work to finish up( maybe 2 years on that) if that is all good i am going to do another big assessment. if i am on track, there is another personal project i would be ready to do.
that's as far as i have "planned" though about 2-4 big picture years.
still not ready for retirement at that point of curse.
I’ve saved a lot over the years, but I’m still unsure if it’s enough. I’m not sure how much I should be pulling from my portfolio each year without running out of money. It’s so tough to figure out. Any advice?
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk
Agreed, I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $3m retirement goal after subsequent investments to date
Thanks for sharing your experience! I've been managing my portfolio myself, but it's not working out. Do you have any recommendations for a good investment advisor? I could really use some help
My CFA, Joseph Nick Cahill, is a renowned figure in his field. I recommend researching his name online; you'll find all his credentials and everything you need to work with a reliable professional. With many years of experience, he is a valuable resource for anyone looking to navigate the financial market.
Thank you so much for the suggestion! I really needed it. I looked him up on Google and explored his website; he has an impressive background in investments. I've sent him an email, and I hope to hear back from him soon
…I saw 12 shoelaces on the floor and that was a sign!…😂😂 I laughed out loud, Ari-you can be hilarious in addition to helpful!
@@julieg.5718 HA
These stories were great!
I also plan to retire Jan 1st 2027. It has nothing to do with lucky numbers. The IRS rule of 55 kicks in on the first of the year.
So are you saying it really kicks in at 54 the year you will turn 55? Oh I hope the answer to this is yes.
@@susanlee594 Per a Forbes article.... The rule of 55 is an IRS guideline that allows you to avoid paying the 10% early withdrawal penalty on 401(k) and 403(b) retirement accounts if you leave your job during or after the calendar year you turn 55.
@@susanlee594 If you turn 55 (or older) during the calendar year you lose or leave your job, you can begin taking distributions from your 401(k) without paying the early withdrawal penalty. There are some nuances to the rule; google it.
I liked these as a "mix it up " in the rotation . Like the case studies more .
Thank you
Wouldn’t limit to 50. I’m in under 40 and love to see what retires think about. Helps me consider how to think about the future.
They always talks about older folks because they only want to work with rich people
LOL! Great video, Ari. People are a mess, this was really eye-opening.
Thank you!
Question on the rental recommendation. If you sell your house and rent, don't you face a large tax bill?
Depends
I’m 64, wife is 65. Both recently retired. House paid off. We have 2 old cars that are paid for. No children. Our retirement portfolio today is invested in various stocks, bonds, mutual funds and cash. How much can we safely spend per month without risking running out of money?
No idea how much money yo have, your health, other income sources
Lots of questions being raised with each and every video. I’d rather have more hard questions now that result in less what-ifs later on. 🙏
i know i made this comment before BUT i still cant find information on SUPER early retirement like 25 to 30 year old. say you win a few min in the lottery or play pro sport and made 6 million or your parent left you a few million.
no one talk about it like do you do 2 or 3 percent becosue you will not get SS, or how do you plan for 70 years of retirement, things like that.
You just ignore SS and be more conservative... I personally would just live off dividends at that point (1.5% from SP500) and maybe a 0.5% withdrawal.
Only thing worth doing with SS is maxing out the 90% bracket, then ignoring it, because you literally lose like 70% of everything going into SS after that point..
From a hedonic treadmill perspective, it's going to be nicer if you start at a lower earnings and then it continues to grow throughout your life.. if you take only 1.5% early on your portfolio will continue to grow and you'd be making more each year by quite a bit. Then when you hit different age milestones look at maybe increasing withdrawal percentages.
I probably won't retire until my mid 40s or early 50s but I'd pretty much still do about the same and maybe earn income on the side from my hobbies.
Honestly, I feel that if it was a windfall and you’re not used to planning that amount of money, it would totally make sense to hire a reputable financial advisor. So many stories of people that ‘hit it big’ just to have poor financial management skills and end up with little or nothing left in a handful of years.
I not rich. But I was just trying to figure out how you do it. If it was not a huge amount of money. Like 5 to 10 million
I thinking off the second string pro athlete or parents leave then some money. Or a few million from bitcoin.
I'm already retired with an excellent pension, cola, retirees healthcare, 457, ira, and ss coming in 2 years. Needless to say, I'm pretty well set. But I do enjoy the information you and James put out. Thank you!!
Hope you have a good tax strategy!!
Why can’t you have the clients there keep real in the field or soccer field
You’re right I’ll change that now
Fear of losing purpose masked by running out of $ excuse. $3M lady doesn't have a math problem.