Early Retirement Planning Essentials: Tips & Pitfalls (Ages 55-65)

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More and more people are coming to us with the goal of retiring early. If you’re someone between the ages of 55-65 and have plans for an early retirement, we’re going to share key points that you want to pay attention to. We realize this can be an exciting time but comes with some nervousness because you don’t want to retire before you’re financially ready.
In today’s video, we want to highlight some of the potential pitfalls that you might face as well as some of the critical elements you want to plan for. By taking care of these things before you retire, you hopefully won’t have to worry about go-ing back to work.
#earyretirement #retirebefore65 #retirementplanning
Here's what we cover in this financial video:
0:00 - Intro
0:45 - Ages 62-65
3:17 - Ages 59.5-62
5:17 - Ages 55-59.5
10:55 - Before 65
Additional resources: www.forbes.com/advisor/health...
Begin the 'Max My Retirement' Gameplan here: sierensfinancialgroup.com/wor...
Want to learn more about financial and retirement planning? ➟ bit.ly/3tcS3vn
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LinkedIn: / scott-sierens-sfg
Podcast: lifemoneyshow.com/podcast/
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Website: lifemoneyshow.com/
Phone: (847) 235-6989
Email: scott@sierensfinancialgroup.com
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Опубликовано:

7 авг 2024

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Комментарии : 12

@leathers2 5 месяцев назад

It seems to me, if you invest in a diversified portfolio of dividend paying stocks and ETF's and you just keep working until the dividends cover all of your expenses, then retire and live off the dividends, any pension you might get and SS income, you will never run out of money. You can always make more money but you can't make more time.

@user-wj1pr1jj4p 5 месяцев назад

You can plan a Roth roll over ladder and as long as you have 5 years living expenses in Roth contributions or after tax account available you can sustain penalty free Ira withdrawals.

@rhythm6090 5 месяцев назад

You still have access to your Roth contributions prior to age 55!

@johngill2853 5 месяцев назад

Looking at a ACA calculator, that doesn't match what you say about Healthcare costs pre Medicare????

@Cenlalowell 5 месяцев назад

Depending on your income you can get ACA for much cheaper

@johngill2853 5 месяцев назад

@@Cenlalowell taxable income, if you can get your taxable income low the insurance is extremely affordable

@ChristopherEvans-650 5 месяцев назад

@@johngill2853 Yep, If you are healthy, you can choose an ACA Bronze plan with an HSA. Keep your MAGI low and you can get the premiums 100% subsidized along with contributing up to $5,150 to an HSA. Here in California, I can have an MAGI up to $60,850 and get the above plan. Out of pocket for the first $7050, then 100% coverage. Preventative care is included.

@markray6000 5 месяцев назад

How about rollover all old 401k's into your last/current 401k plan and then be able to use all that money for the rule of 55???

@user-wj1pr1jj4p 5 месяцев назад

You will likely need to perform the roll over before you quit. But really, you shouldn’t keep old 401ks lying around. Why would you trust an old employer with your money? Why pay 401 k fees when you can roll your into an Ira? The rule of 55 is risky and shouldn’t be a plan unless you’re 55, have a great 401k and it’s your only option.