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I am 53 and retired at 50. 1 thing I did do to retire early was to get out of the 401K and IRA programs. Bought rental real-estate and I am now a Limited Partner in about 1500+ units from collabrative efforts in the fund my estate planner has me invested in. I do not work.

The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.

If you retire at 62 and use your investments to get you to 67, then the break even is about 90 years old, not 78.

5 months from now at 62.5. I still intend to drag some of that money into the grave with me.

We're delighted that you had the chance to view our recent video designed to assist you in securing your retirement! Consider checking out our next title: "Understanding the Taxability of Social Security Benefits" - czcams.com/video/O8sXioyOE94/video.html

Now do reverse mortgage foreclosure rates explained.

As several have noted in comments, this was a very poor example, not only for when to take SS, but a very poor retirement plan. Here are some examples, SS is is much like an annuity, but even in todays higher interest rates, it is usually a much better deal than most annuities primarily because of the COLAs, that they did not credit toward SS from 62-67 which is not being conservative it just skews the numbers of favoring of taking SS at age 62. The second big mistake is they are not taking into account Sequence of Returns. which is why you need to balance your investments in retirement. This skews the straight line interest calculation towards taking SS at age 62. The last thing they are not taking into account is Roth conversions. which these people should be taking into account between 62 and 70. The biggest reason is because of how it effects their tax on SS.

Wow 👏 those poor people 😆

Those people are Terrible Savers? Making $300,000 p yr? They shud been able to save FAR More that that! I make gross $50,000 and have $400,000 in 403b only doing 15% .

These Millionaires don't need Advice from. Utube?

Therse are totally stupid useless examples! You start with a couple making $300,000 and maxing out 401k? That is So vastly above National Averages? Can they squeeze by with $2,500,000 until $8,000 p mo Soc Sec? Try using REAL WORLD Examples!

Nope, I bet you're still paying taxes by selling all the stocks and moving to an annuity and then paying taxes again when you get the distributions. This is like telling people not to have a savings account die to the taxes.

Most people are NOT making 150k. So not helpful. This is for the rich. Not regular people.

It’s a very simplistic plan it does not take RMD’s into account also a static rate of return . It also assumes both people are gonna live until 90 which we know statistically is pretty much impossible so they will lose one of those Social Security benefits at some point, which will affect their situation that’s affecting me ending balance

We're delighted that you had the chance to view our recent video designed to assist you in securing your retirement! Consider checking out our next title: "Understanding the Taxability of Social Security Benefits" - czcams.com/video/O8sXioyOE94/video.html

Those things are not very good because those people are not a trusted person don't do anything whi them they don't care about you they screw you up because they whork together whi the Satan and Satan is not good

Going thru the steps now at 69yo in Richmond VA. We just got a call from the CCRC (a type C) to come view an apartment (in a new building) that meets our criteria. We've worked with our independent financial planner for "future" move. Decisions, decisions. This is exciting to me, my wife is a nervous wreck. All people in the building will be new, so integration should not be an issue. Probably taking it. Decision due by Monday (in 5 days) 😎

I wish you had talked about buying a new home scenario! We sold or last house and have been traveling. We are now looking at buying our last house. We have no kids, so no heirs, cash to put down, two SS incomes, disability income, IRAs but don’t want a payment because homes and interest rates are so high.

We're delighted that you had the chance to view our recent video designed to assist you in securing your retirement! Consider checking out our next title: "Understanding the Taxability of Social Security Benefits" - czcams.com/video/O8sXioyOE94/video.html

How to contact?

This is a very comprehensive list of assets and responsibilities in the event of a spouse or parent's death. Thank you

14:55 "... home value increasing at about three percent and interest accruing at about the same rate..." WHAT??? Who is loaning money at 3 percent these days? I'm thinking 8 percent is more realistic in 2024 and at that rate, compounded, the balance owed will more than double in 10 years.

So if my brokerage account grows in value, will the dividends get taxed in the income tax bracket or some other tax bracket. The 1099-B is a little confusing.

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Can I invest into a brokerage account even if it’s from foreign earned income? I know you can’t invest in IRAs

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This was so very helpful!

3 years - Zero

Doesn't make much difference.

I understand all of this question/equation. My question for everyone is, what are you doing for health care when you retire at 62. Give me some constructive help here and I will have a lot to look forward to in 2 short years. (I just had my 60th BD). Thanks in advance. GRC

Thanks for watching!! Tell us what you think about this topic and try this video also. "3 Questions About Retirement" - czcams.com/video/La6w9T9dzlo/video.html

We're delighted that you had the chance to view our recent video designed to assist you in securing your retirement! Consider checking out our next title: "How Does Medicare Work When You Turn 65?" - czcams.com/video/CWGjXPdaMC0/video.html

Thank you so much for your video. It definitely helped put my confusion and anxiety around this topic in check.

WHY ARE YOU TALKING ? INSTEAD OF GIVING RATES ! TALK BS !

Hello! Advice please! June 5, 2024..I want to know if I start my social security at 66 and 8 months is that full retirement age for me my birthdays is 01/08/1958! I wanted to go on partial retirement but if I can retire fully....?? I am self employed and in this economy need some help! How much can you make $$ without getting any penalties? Thank you so much for your time!

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*Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $110k and in the first 2 months, my portfolio was reading $294,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.*

excellent presentation but you did not give the cost of buying the note, is 1%?

67

We're delighted that you had the chance to view our recent video designed to assist you in securing your retirement! Consider checking out our next title: "Understanding the Taxability of Social Security Benefits" - czcams.com/video/O8sXioyOE94/video.html

Thank you for explanation. Really hit the bottom line of trying to withdraw my late uncle, us I'm Beneficiaries of his IRA. How can I be able to withdraw from IRA account.

How much more is the interest rate for a reverse mortgage as opposed to a regular mortgage? As of this writing (May 2024) the lowest rate I see is just south of 9%.APR.

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You lost me at annuity! Keep etfs in Brokerage people! Very simple!!!

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I have not heard anyone address the stated fact that by 2034, the benefit payout will be reduced 21%. I think that's being optimistic.

No, I'm not. We'll maintain the same lifestyle after we're both retired.

There are persons posting videos on Reverse Loans mortgages. They make it seem like your gonna be in a debt hole. There's nothing wrong with getting a reverse loan. As long as you pay your taxes and home insurance and maintenance. You can move out and sell your house as long as you pay back what you owe and the rest of money is yours.

Thanks for watching!! Tell us what you think about this topic and try this video also. Don't Gamble Your Retirement" - czcams.com/video/qYcgwzR-6EU/video.html

Good video. I agree 100% with the comments about the issue of single vs married tax rates and reducing standard deduction (as well as eliminating one SS check by the way). While I won’t minimize that issue, putting it aside for this analysis, I have a hard time seeing a benefit of converting even with over $1m in a traditional IRA. I realize everyone has a different situation. For me, a pension means 85% of my SS is always going to be taxed. However, by deferring to age 70, I am maximizing the 15% that will not be taxed and my state does not tax any SS which means less overall taxable withdrawals needed. Here is why I won’t convert at $1m. 1. If still working, the tax paid to convert is all paid up front in today’s dollars on top of all your other income. If retired, that issue is not relevant. But the time value of money is still a factor. 2. By not converting, you are paying tax with future (inflation adjusted) dollars and spreading out the payments over many years, in fact you are unlikely to pay tax on the entire balance ever (although your heirs will). 3. Not converting allows you to have more money growing for you and during RMD years you can take advantage of the standard deduction and lower tax brackets and pay the taxes from the earnings on the money you saved by not converting. Here is an example. $1m conversion of $200k per year for 5 years from age 60 to 65 at 22% is $220k of tax. Your $1m doubles to $2m by the time you are 75 all tax free. If instead you don’t convert your $1m still doubles to $2m which now is taxable and has a year 1 RMD of approximately $80k. If you add $50k of SS to that it’s $130k from which you can take the standard deduction. Lets conservatively say that will be $40k at that point, so you have taxable income of $40k from the IRA which will be in the 10% and 12% brackets plus you will pay tax on $42k of your SS in the 12% bracket. Total tax is less than $10k. However your $220k you saved in taxes by not converting has also doubled to $440k. At a conservative 5% growth rate, the $22k of earnings is more than double the tax without touching the principal. Yes in future years RMDs are higher but it takes many years before there is a benefit. Other uncertainties that hurt converting 1. Your lifespan. There is no guarantee you will even make it to 75 never mind into your 90s to see any benefit. Yes your heirs will ultimately pay tax but from a higher income starting point and there are strategies such as giving the tax deferred accounts to an heir in lower tax bracket and assets with step up in basis to heirs in higher bracket. 2. Sequence of returns risk. There is no guarantee of growth in account unless investments are risk free. Therefore if you pay tax today on $1m and we have a year like 2022 and the account drops to $750k, you will need a 33% gain to get back to the $1m you paid tax on already, which could take years. 3. Paying tax today to convert can utilize money that you could otherwise use to travel or enjoy life in your 60’s and 70’s while you have your health. You are less likely to need as much money in your 80s and 90s and won’t mind paying some tax with money that otherwise won’t be used.