Fantastic video James. It makes me proud to be a client of Root knowing that leadership is so kind, thoughtful and caring. My wife and I loved seeing the relief on Stacy’s face as the video progressed and it started sinking in that her dream life will be a reality. What a sweet lady. It is awesome to see hard work and sacrifice pay off. Hopefully 4 more years for us with Roots help and we will be in a similar situation.
30:10 I’m so happy to see the joy on her face as she’s realizes all her sacrifice have not been in vain 😊. You’ve lived such a frugal life all these years… time to relax and enjoy life a little. You deserve this!
As a student of root financial academy, it is insightful to see how you walk through networth, income, goals and scenarios using the software. Your calm demeanor as you explain things are much appreciated. Awesomeness, James and Team!
Great video!! Really really good to include the actual person and not just imaginary names. Their emotions have a bigger impact to the viewers then just charts and graphs. I hope to see more of these videos in the future. My favorite video from you guys so far!!
Awesome video! We are 48 & have similar (maybe a little bit more) financial profile. This gives me a lot of comfort we’ll also be able to retire at 55 or sooner. 😁
Something that was not mentioned, is that because they have company stock in their 401K, they can withdrawal that stock and pay long term capital gains as opposed to income tax.
Great case study! Clearly the emphasis should be placed in derisking away from that 50% company stock, and move that to a more diversified portfolio preferably with broad market index funds, as that could make or break their retirement. They should definitely take advantage of NUA to start replacing that company stock.
I'm so proud of these frugal people showing that you can be successful, and she wouldn't even need social security. It's like a nice bonus of cash living so long ;)
Retirement success is not just based on your savings, it's also about your spending. But don't be miserable by underspending in your retirement. I think $4000 a month would be a good base for them.
2 million should be enough to retire comfortably if you have no debt and are willing to follow your budgets (typically 4% rule). Edit: wonder if she worked for Publix.
This is arguing about the trivial, I understand; but, Monte Carlo simulations do not result in 100% likelihood of success. I can buy 99.99, just not 100%.
54 is pretty young to retire, unless you have a way to get lower cost health insurance. Health insurance is a big barrier to a successful retirement. A 2 million portfolio at 54, you really need to be around 3% withdrawal rather than 4%, because you need 45 years in retirement, and not 30 years. So, this is around $5,,000 a month gross, then adjusted for inflation. If they are spending $2,500 a month, they could do it.
Impressive - only 2% of the world have > $1M in retirement funds. Find out how much you want to spend with 3 % COLA for the next 11 years till SS kicks in at 65. If you withdrawal rate is
Fantastic video James. It makes me proud to be a client of Root knowing that leadership is so kind, thoughtful and caring. My wife and I loved seeing the relief on Stacy’s face as the video progressed and it started sinking in that her dream life will be a reality. What a sweet lady. It is awesome to see hard work and sacrifice pay off. Hopefully 4 more years for us with Roots help and we will be in a similar situation.
So timely. I’m 41 on track to hit $2-2.5M by 54 when I plan to retire. This was very informative.
30:10 I’m so happy to see the joy on her face as she’s realizes all her sacrifice have not been in vain 😊. You’ve lived such a frugal life all these years… time to relax and enjoy life a little. You deserve this!
This is probably the case study that's most similar to my own. Thanks for sharing, Stacey!
Her and James smiles made me smile, a feel good episode! Thanks for this and enjoy!
As a student of root financial academy, it is insightful to see how you walk through networth, income, goals and scenarios using the software. Your calm demeanor as you explain things are much appreciated.
Awesomeness, James and Team!
It would be great to have a follow-up video after she retires.
Great video!! Really really good to include the actual person and not just imaginary names. Their emotions have a bigger impact to the viewers then just charts and graphs. I hope to see more of these videos in the future. My favorite video from you guys so far!!
What a kind person! Really enjoyed this video! Keep up the great work!
What a great episode and walkthrough of their finances. Congrats to them on achieving such a successful retirement goal!
Awesome video! We are 48 & have similar (maybe a little bit more) financial profile. This gives me a lot of comfort we’ll also be able to retire at 55 or sooner. 😁
Something that was not mentioned, is that because they have company stock in their 401K, they can withdrawal that stock and pay long term capital gains as opposed to income tax.
Great case study! Clearly the emphasis should be placed in derisking away from that 50% company stock, and move that to a more diversified portfolio preferably with broad market index funds, as that could make or break their retirement. They should definitely take advantage of NUA to start replacing that company stock.
I'm so proud of these frugal people showing that you can be successful, and she wouldn't even need social security. It's like a nice bonus of cash living so long ;)
I am so happy for her ❤
Retirement success is not just based on your savings, it's also about your spending. But don't be miserable by underspending in your retirement. I think $4000 a month would be a good base for them.
What retail company is Stacy working with?
Surprised about the new car every 7 years.
2 million should be enough to retire comfortably if you have no debt and are willing to follow your budgets (typically 4% rule).
Edit: wonder if she worked for Publix.
This is arguing about the trivial, I understand; but, Monte Carlo simulations do not result in 100% likelihood of success. I can buy 99.99, just not 100%.
Does anyone have a calculator with a feature that includes dividend income?
54 is pretty young to retire, unless you have a way to get lower cost health insurance. Health insurance is a big barrier to a successful retirement.
A 2 million portfolio at 54, you really need to be around 3% withdrawal rather than 4%, because you need 45 years in retirement, and not 30 years. So, this is around $5,,000 a month gross, then adjusted for inflation. If they are spending $2,500 a month, they could do it.
$2500 per month is reasonable.
She's a lovely woman
Impressive - only 2% of the world have > $1M in retirement funds. Find out how much you want to spend with 3 % COLA for the next 11 years till SS kicks in at 65. If you withdrawal rate is
$2500 a month expenses? Not real.
The issue will be RMDs at 75 for them since they don’t know how to spend it.