I'm 52 with $250,000 saved for retirement, WHEN can I RETIRE? 

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When the U.S. Government rewards me to wait to retire at 70, then I know they are hoping I die before then. I’m taking SS as early as possible. I’d rather collect less longer than have full benefits for only 4 or 5 years.

why have 17 months expenses in cash 10 years before retirement ? ...and he has 4 times the median saved (average doesnt matter ever) ....no kids to leave anything to ...his expenses are 3k monthly , and 1800 SS at age 62 and 2500 pension = 4300 monthly...no kids and health issues , with 1300 extra each month in guaranteed money , PLUS a paid for house by then worth 350k , which would mean his monthly expenses would drop by alot ...PLUS his investments of prob 500k by age 62 ????? ....id get out the DAY his pension is guaranteed to be there even if it was in the future..... if youve already won the game , stop playing ..... tomorrow is not promised buddy , enjoy your life while you can

Awesome. So well explained Drew. I really wish I could see my numbers up there, but I really like the nuts-and-bolts videos that you do for people. It makes me feel like mine is a slam dunk. Thanks again.

Drew, sorry sir but you do not seem to understand the U.S. Gov’t FERS Basic Annuity/retirement system. 1. Staying to 62 he gets 1.1% of his high three so his pension is different at 61 (1%) or 62 (1.1%) 2. Unless you’ve already taken it out, he has withdraws for Health Insurance, Dental & Vision so at best his $2,500 should be $2K/month and more likely $1.8K/month. 3. If he has Federal Long Term Care subtract $150-300 more each month from his base annuity. 4. Make “Al” a married Fed and you have to add a 5% reduction off the top for the spouse to receive 25% of the basic annuity as a survivor benefit. More likely, 10% off the top from the Base Annuity for a 50% survivor benefit. You MUST take one or the other for the spouse to keep health benefit’s if the Fed should pass first. Then subtract any life insurance (75% reduction is popular) and next thing you know that Married Fed’s pension is reduced to $1,000-1,250 or about 1/2 of what you are using! 5. Federal COLA is sliding scale (somewhat) linked to CPI but remember FERS gets a “Diet COLA” and when you average long term FERS COLA we’re talking about 1.8%. A GS-13 with 35-40 years should gross a Base annuity of $55-60K, especially in D.C. with higher locality pay, and should Net (including single Fed taxes) about $21-25K. This does not take out D.C. taxes. Also if he went out prior to 62 “Al” would have been eligible for the special supplement which would bridge his SS (about 80% of it) from his MRA until 62. Adjust his Basic Annuity by those factors and include the Special Supplement & it will completely change your strategies!

Drew, thank you for sharing your knowledge. It is helpful for people receiving a pension, but not a huge nest egg.

Good stuff as always, I wonder what Al would need to do if he didn’t have the pension.

Drew when we set a consultation through your site here do we get to work with you or is it one of your associates? Also wanted to say you have great content and an easy to understand approach to laying out the data.

Jake and Janine don’t want to travel any where today especially to work on a Monday.😂

Drew. Great video. Gives my hope.

Never, not enough......he'll need at least 1.25 million. If he gets a pension, he's fine. Use the fire movement as inspiration. Well done. Moi, I'm doomed working until I die. I figure I need 1.25 million without running out of funds.

Good job. Stayed positive

I’m 12 years old and I have $500 dollars saved. My expenses are zero, when can I retire?

Thank you so much God bless and 61

Another good video, thanks for sharing. What does it cost to have a personalized EKG done? Thanks.

Drew, is that budget analyzer software some thing that can be accessed?

Hello Drew.

I work for the government. I have no pension. That is pretty much the norm now. Where are these people getting pensions from? It just is not offered any more.

all great until the stock market tanks for a couple years , then so much for the average return

Hi . Great video. Is that 5,000 a month for 10 years traveling? Excellent to still have that much money left at 100 years of age

What about this scenario? Say you have 500k in 403b/401k, are almost at full SS req since you earned max since 17 (33 years max contribution) and have 300k in play money, 50k emergency funds and around 30k in HSA. The play money is invested mostly in S&P500 and SCHD, with 50k extra in high yield savings account for emergencies. Your yearly expenses are around 36k, willing to relocate to cheaper countries to maintain this or less. Could this person retire at 50 as long as they are ok using the full 300k until they reach 59.5? Granted I understand that the markets could crash and throw a wrench in the plans but working enough to make 36k a year wouldn't be too bad in a worst-case scenario, right?

what method do you use to value existing real estate owned (current asset value) when computing net worth?

Isnt 10 years from now about the time that Social Security may hit financial issues?

have to figure in RMD unless his investments are in a roth

We are a gay couple and retired with $3M and we are concerned. We do not want to leave any inheritances. We are 71 and 62 and take a month vacation each year. Usually cruising.

Ehat percentage of people who are about to retire have a pension??

I sure hope Al Perkins isn’t the clients real name…lol

NEVER

He can retire never