Can You Retire With $500,000? The Numbers Are Surprising

[@tonysilke]

The high inflation is a significant reason why most retirees have sleepless nights. The increase in prices of everyday items puts them at risk of running out of money. As prices rise, the amount of money retirees can withdraw from their retirement savings also increases.

[@Nernst96]

The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.

[@PatrickLloyd-]

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.

[@PhilipDunk]

@@PatrickLloyd- any recommendations for advisory service in regards to building my portfolio? I don't really know where to start

[@PatrickLloyd-]

My CFA, Sophie Lynn Carrabus is a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@RobbieNixon-d1w]

Benevolence, this reference seems valid.. Just inputted her full name on my browser and found her site without sweat, 15 years of experience is certainly striking! very much appreciate it

[@benjamindavidson22]

I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.

[@frankbarnes22]

Diversify your holdings across several asset types to reduce risk rather than putting all of your eggs in one basket. If you don't know a lot about finances, speak with a financial expert.

[@monicawill5]

Opting for an investment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2023

[@Johnlarry12]

Oh I've heard similar things about hiring an advisor. It's hard to choose one that's very good though. Could you make some useful recommendations?

[@monicawill5]

My CFA Carol Vivian Constable a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..

[@Johnlarry12]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@LesterHess-t1x]

I converted my 401(k) to a Roth because of rising tax rates. When I take money out of my retirement account at age 59, I don't want to have to pay taxes on my current salary. I'm currently looking for the best ways to keep my retirement contributions on pace to reach my $5 million target.

[@wmwoods-l4f]

While after-tax contributions may lessen your income tax burden in retirement, pre-tax payments may help lower income taxes in your years before retirement.

[@kevincasey1]

Don't attempt to shoot the lights out; instead, keep things basic, buy what you understand, and take some risks. Right now, I have 25% in a Roth IRA and 75% in SCHD. 25% XLK, 35% SCHD, and 40% VOO make up the broking account. Total balance: ~$5.3 million Retirement is less than 4 years away. I have roughly $400,000. For my retirement, my portfolio has produced far more than I anticipated. Well done, advisor.

[@karitanaw]

Well it seems like a lot of your interest is riding on your source, I could really get well accustomed to your viewpoint, get me involved.

[@kevincasey1]

I've stuck with ‘’Annette Marie Holt ” for more than 9 years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.

[@karitanaw]

Thank you for the lead. I searched her up and her webpage popped up immediately, and I have sent her an email. I hope she gets back to me soon.

[@Ethan-bu2zy]

$500k with SS and a pension. Definitely!

[@TheFirstRealChewy]

I agree... assuming that the social security benefits and pension amount is good, and $0 debt, and the house isn't huge or on a huge piece of land or in an HCOL area, and no chronic health issues that require frequent gospital visits or expensive medication, and that the investment keeps growing at the historical growth rate, and that inflation remains relatively low, and that taxes don't go up due to all the spending the fed is doing.😅

[@EazyE11]

How long is social security going to be around since we have elected officials on tape saying they want to cut it.

[@Ethan-bu2zy]

@@EazyE11 Social Security is basically the fourth rail of American politics. Best of luck to any party that tries cutting benefits. There will likely be some adjustments made (higher FICA taxes, higher tax ceiling or higher FRA) but doubtful that benefits are eliminated entirely.

[@ethangamer3173]

​@@Ethan-bu2zy with this crazy orange man who's a *BILLIONAIRE* who the hell knows, maybe we will getting .75-80 cents on the dollar we were promised 😢

[@delayedgratification581]

I'm already there with SS and California pension at 38. Guess no need to invest anymore!

[@wildfoodietours]

Retiring with $500k is easily doable especially for those who can distinguish between wants vs needs.

[@MakusNakus]

Increasing tax rates are the reason I rolled over my 401k to a Roth. I don’t want to be 59 paying taxes on current income on withdrawals made from my retirement account. I'm now seeking best possible areas or strategy to keep my retirement contributions on track to my $5m goal.

[@MapleLaffelle]

Pre-tax contributions may help reduce income taxes in your pre-retirement years while after-tax contributions may help reduce your income tax burden during retirement.

[@Redwood4040]

Both have their perks but you can also save for retirement outside of a retirement plan, such as in an individual investment account or employing the services of a retirement planner/advisor.

[@BBmbr89]

Keep it simple, buy things you understand, take some risk but don't try to shoot the lights out. I currently have 75% SCHD and 25% ROTH IRA. Brokerage account is 40% VOO, 35% SCHD, 25% XLK. Combine balance ~$5.3m Less than 4 years until retirement.... I have about 400k in cash. My portfolio has yielded far more than I expected for my retirement. Kudos to my advisor.

[@CandiceHandelle]

Well it seems like a lot of your interest is riding on your source, I could really get well accustomed to your viewpoint, get me involved.

[@BBmbr89]

I've stuck with ‘’Jennifer Leigh Hickman ” for more than 9 years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.

[@Doracox22]

My target retirement fund in my 401(k) had poor returns compared to the S&P 500. I switched everything to the S&P 500, but I regret not doing it earlier. What are the best options for investing $200k for reliable cash flow?

[@Richmind-ir5zi]

I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of 5%.

[@Mitch10bands]

you need a certified financial planner straight up! personally, I invest in ETF's and also love investing in individual stocks. yes it’s riskier but am comfortable in my financial environment

[@TylerofSc004]

Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 275 cash earning 5.25 interest, 685k in 401k, 120k cash account, 80k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed shortly.

[@Marianela-r3v]

pls how can I reach this expert, I need someone to help me manage my portfolio

[@TylerofSc004]

There are a handful of CFAs out there. I've experimented with a few over the past years, but I’ve stuck with "Lauren Christine Campbell’’ for some years now, and her performance has been consistently impressive. She’s known in her field look her up.

[@tshinder]

So what I'm hearing is if you want to live in a van down by the river, you'll be fine.

[@FIREhiker]

BLUF - live poor, have no debt, downsize everything, get a side hustle, have a spouse with Social Security as well and you're golden. 👍

[@maoisn]

The answer is always, it depends. You can retire with $0 saved.

[@rickallen9099]

No, you can't

[@maoisn]

@@rickallen9099 Millions of people do it. won't be lavish but it can be done given the right circumstances.

[@Michael-uf1hz]

You can if you have other streams of income yes. You don't necessarily have to be employed or working to have money coming in.

[@maoisn]

@@Michael-uf1hz Exactly! It all depends and a lot of people make it work with just SS. Some live with their children. Some move to a lower cost of living area. Some do side hustles (partial retirement). The answer is always it depends.

[@ChrisWoodBritton]

What are the best additions to a $500k portfolio to boost performance? S&P 500 is Up and will do better in 2025 I believe as indicators for profits continue to improve, investors like me believe that “Santa has come early” to the markets.

[@05kkmujgaa]

I think you're better off with majority investment in S&P500 and uprising equities cos they always outperform. Alternatively speaking to a certified market strategist can help with pointers on which to acquire

[@JakePeterson-n9d]

No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.

[@AverageAmerican-m2m]

Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.

[@JakePeterson-n9d]

There are a handful of CFAs out there. I've experimented with a few over the past years, but I’ve stuck with ZAREEN GRACE CHURCH for some years now, and her performance has been consistently impressive. She’s known in her field-look her up.

[@viewfromthehighchairr]

I just looked up her website on google and I would say she really has an impressive background in investing. I have sent her an email hope she gets back to me soon. Thanks

[@brandonshaw71]

I reached $138k today. Thank you for all the knowledge and insights you've shared with me over the past few months. I began this journey in October 2024. Financial education is essential for over 70% of the population, as only a few are truly literate in this area. Thanks so much Charlotte Grace Miller.

[@jorgepérez19]

I'm celebrating a $30k stock portfolio today. started this journey with 6k. I have invested on time and also with the right terms now I have time for my family and the life ahead of me

[@johnsonwilliams92]

The very first time we tried, we invested $1400 and after a week, we received $5230. That really helped us a lot to pay up our bills.

[@jagrnathkumar2986]

She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states

[@tyleradamson9]

I'm new at this, please how can I reach her?

[@luckystatham]

I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills

[@jonathanfoster2263]

I started early but made so little it still took 40 years to get to my $670K portfolio. I am mostly in income generating funds/stocks. it generates $75K per year. Way more than I can spend. I actually reinvest a good portion of it.

[@dorinatudisco1308]

That’s awesome! Love hearing success stories from people who don’t earn a high income 😊

[@bonniemartin4232]

I have a relative living on social security alone and if he has 100K saved, I would be shocked. He's living fine. Many people live on social security alone with little saved and seem to manage somehow. When you try and do this stuff on paper, it doesn't seem dooable but people get through life on much much less than what the experts suggest and without side hustles. Does anyone really think the average American even has 500K saved? I highly doubt it.

[@glevando]

This was an informative video. Each case is different. I always find it interesting how videos assume that retired people want to travel. Sure, some do but it seems that travel is assumed to be a key thing retirees want to do. Often health limits the ability to comfortably travel. Also, many retired people simply want to relax and not deal with the rat race anymore. Again, everyone is different and thank you for the video.

[@ChrisInvests]

@@glevando true, thanks for watching

[@painuchiha2694]

Maybe not retire but my biggest goal is to work part time someday while my investments do the heavy lifting. Working part time is basically retirement imo, I only take issue with full time jobs because they take a toll on my lower back and overall well being…

[@ChrisInvests]

@@painuchiha2694 what do you plan on doing as your retirement job?

[@donf4227]

Phased retirement or partial retirement can work for a lot of people. When people go from 40 hours per week to zero it is often too abrupt. For those with the option to cut down to 15-25 hours it can work well, even if it is only 1/3 of full pay. Sometimes it makes sense to spend more time with family or helping one's own long-term health, if that person doesn't need full pay the next few years before completely retiring (if that is the goal, or becomes unavoidable).

[@ChrisInvests]

@@donf4227 I completely agree

[@jamesstpatrick8493]

In thailand or vietnam all you need is 25k

[@MoneyMastery-YTchannel]

Investment is the way to go.

[@untouchable360x]

Yes. As long as you don't have a cocaine habit.

[@TheFirstRealChewy]

House hacking doesn't eliminate your housing cost, it increases your income. Increasing your income will impact how much of your social security benefits is taxed.

[@ethangamer3173]

Get paid in *CASH* 😂😅

[@AgileSnowWeasel]

The big risk is cuckooing - the older you are the more vulnerable to bad actors. You rent out a room and they take advantage, then take over. I wouldn't want to rent out a room for extra income after 60.

[@rickallen9099]

Could put the 500K into a lifetime payout annuity.

[@beefpho]

Want 500K to be worth millions? Move to Cambodia.

[@HughJass-313]

@@beefpho FAX!

[@ethangamer3173]

​@@HughJass-313 you mean *FACTS* ?

[@ethangamer3173]

Mexico, Colombia, Costa Rica, DR

[@AgileSnowWeasel]

We all know what men who retire to those countries are doing.

[@shawn47240]

What are the women doing?

[@CarrieV9]

No. People who claim to retire on this have side hustles - and that’s not “retired”

[@ethangamer3173]

*500K* Is possible if you have a paid off home, paid off car, good health & manage unnecessary expenses! Using the 4% rule, your social security & any other CASH HUSTLE !!

[@tombkk1322]

Did he mention a 50% decline in the S&P 500? Another lost decade similar to 2000 and 2010 is always a possibility. Maybe this is where bonds and cash will hold you down ver until a market recovery.

[@LilT2o00]

I'm still in min wage; lol i know i'm never going to retire

[@bucknut9475]

A lot of millionaires used to be minimum wage workers at one time.

[@LilT2o00]

@@bucknut9475 i'm sure lol but they have skills; probably a car; some sort of credit; etc. i got the lowest credit score and a bicycle with no special skills lol

[@MargaretWest-m8u]

At 32, I'm diving into investing for the first time. I’ve started contributing to my 401K and opened a Roth IRA with automatic contributions. My main question is whether asset allocation is crucial at this stage or if I'm just overthinking as a beginner.

[@FerdLerd]

There are so many choices to make, and for beginners, it's often best to entrust daily investment decisions to an experienced advisor.

[@Toni__Michelle]

There are so many choices to make, and for beginners, it's often best to entrust daily investment decisions to an experienced advisor.

[@FrankJaaay]

There are benefits to holding fixed-income assets in tax-deferred retirement funds rather than taxable accounts. If you're unsure about navigating the market, it's wise to seek guidance from a financial advisor.

[@Toni__Michelle]

I completely agree. I’m 60, recently retired, with about $730K outside of retirement funds, no debt, and only a modest amount in my traditional retirement accounts. Over the past three years, my portfolio has grown considerably. The value of a good advisor can't be denied-it’s just about finding the right one.

[@HotManP-l5g]

How can I find a trusted financial planner like yours?

[@HughJass-313]

*500k won't last long in the U.S.* 4% is roughly 20k annually. but If you have an additional 20k coming from somewhere else... then it could work 🔥🔥🔥 _EDIT:_ _Seriously Doubt that Social Security will still be around/solvent in the next decade._

[@Penelope416]

I dont think SSI will exist in 30 years unless the Goverment issues out UBI.

[@FrugalTeacherFI]

Social security isn’t going anywhere. Think about the people that vote politicians into office. Old people. Also insolvency just means 75% of benefits, not losing all benefits.

[@alexandersims1613]

He's doing it wrong. Put 500k in an individual investment account. Borrow .5% a month. Your principal never depletes and counts towards compounding. According to his rate of return, after 7 years you're getting .5% of 1M monthly (5k post 'tax' money) which is equal to roughly a 75k yearly income. Simple stuff if you do enough research.

[@Masterofnon3]

Need a paid off home to do this

[@glevando]

@@FrugalTeacherFI You are correct. Inflation outpacing income growth is a bigger risk.

[@AmericanWears]

This totally depends on your lifestyle and where you live. Debt free in a low property tax area yes it’s possible. Safe withdrawal rate is 4% so 20k a year on 500k, and the average ss check is 1800 a month, you’re looking at 41k income all in all. If everything is paid off you can live on the 41k, assuming your spouse also has 500k invested and that same ss check it’s even easier at 82k. Housing just property tax a year 2k, food 8k, health insurance 2k, utilities 5k, car insurance 1k, gas 2k. So that’s only 20k a year on necessities. Totally doable and you have some left over 20k or to 40k with a spouse, to have fun with or cover miscellaneous expenses.

[@glevando]

One category is missing: Bingo expenses. Make sure you have a bingo fund. Yes, I am old and play bingo.

[@EricDaMAJ]

Where you live is key. I live in California, where the cost of living is generally insane. $47k a year is poverty income in major California cities. But if you're willing to live in a flyover state that income can set you up reasonably nicely.

[@kwaichangcaine8234]

Property taxes are the real killer where I live in Cook County Illinois.

[@Call_to_leap_analyst]

Good

[@ChrisInvestSupport-g1u]

Good

[@ChrisInvestSupport-g1u]

Reach out method already in bio

[@ChrisInvestSupport-g1u]

availability is on TG

[@ChrisInvestSupport-g1u]

Thanks for the comment! If there's interest in the work, more details can be found in the bio

[@ChrisInvestSupport-g1u]

Thanks for the comment! For those looking to learn more about the work, the bio contains some info

[@jimrobinson4786]

Retirement income supposed to be like a stool. The legs are 401k, SS and investments. Please use all of them.

[@ericeven4090]

As always it depends. Live in a state like new york and even with everything paid off property tax and state tax on goods will eat a good portion of that money in the blink of an eye. Living in a modest home of 1200sqft on long island my property tax will be close $20k a year soon enough. Seems to go up a grand or so every year. Its time to leave here.

[@kwaichangcaine8234]

That's rough ! I'm in Cook County Illinois and I have a 719 square foot house built in 1906 and I'm paying about 9K and ever increasing ! I'm 64 and only have about 500K , I think I'll have to move back home to Ireland . It's not cheap there either but at least the property taxes aren't as crazy

[@ericeven4090]

@kwaichangcaine8234 Illinois is ranked right below NY for property tax. Moving to just about any other state would be cheaper. Council tax is no joke either.

[@barbarar5869]

What kind of lifestyles is everyone living? If my house is paid off i could probably just live off my ss. I know i will savings to afford a nursing home, but for my day to day expenses i dont need much

[@aldaley3537]

$500,000 would be a stretch! I would be concerned about inflation and health care costs, even with other income streams. SS delay to 70 years old is better.

[@HughJass-313]

@@aldaley3537 Many people will have "kicked the bucket" before 70. And average lifespan of men will be "6ft under" before 79. I'm taking my SS as soon as I can get it. But I wish you luck ❤😁❤

[@HughJass-313]

Many people will have "kicked the bucket" before 70. And average life'span of men is only 79. I'm taking my SS as soon as I can get it. But I wish you luck ❤😁❤

[@WiseOwl_1408]

No

[@EricDaMAJ]

I would venture to say you could probably withdraw up to $40k annually or 8% with only a $500k portfolio and not run out of money. But you cannot retire early nor can you retire if your family is known for living an extraordinarily long time. That is to say, if you're retiring at 65, collecting social security, and expect to live only another 10 - 15 years, you'll probably be OK. But if you're 40 or 50 something hoping to leave the rat race now or 65 and your grandparents are still alive, forget about it.

[@JustinSmith-mh7mi]

0:30 The answer is already No

[@user-yx3zl4kh8h]

$500k gross .... $450k after taxes ...... $425k adjusted for inflation (real inflation not the fake inflation fabricated by the FED) ........

[@ShawnQueefus]

Pretty low tax estimate.

[@user-yx3zl4kh8h]

@maness2112 Yeah, didn't want to get people upset that I am being to much of a pessimist.

[@blackgrandpa7652]

$500k cpp and oas no debt and a paid off house and investment s in a maxed out tfsa that's generational wealth😂

[@AgileSnowWeasel]

If you're paying rent or mortgage in retirement, you've either retired too early, or you've been unfortunate in later life - in general you should aim to clear off your mortgage by retirement because it makes things so much easier. If you can't, downsizing should be seriously considered. Downsizing is also good to release equity in the house if that's your heaviest asset, although I wouldn't go as far as getting a tiny house! US social security at retirement is pretty high, I can see this being reduced in the future as an easy to cut area of the budget in the name of government efficiency. US retirement according to the end of this video seems to consist of not retiring but just working more. Joy.

[@Retired_Life_1]

I retired earlier this year at 56 after 33 years as an accountant. I still have my mortgage at 2.5% for the next 3 years. I did not retire too early nor am I in a financial pickle. I can earn significantly more than 2.5% by investing as opposed to paying off my mortgage which I have the funds to do. Personal finance is just that … personal. Financial advisors exist to customize strategies based on an individual’s personal circumstances.

[@bonniemartin4232]

Where did you get this from? I lived overseas for almost 14 years and rented and just came back to the US in 2018. I then rented until 2020 when I purchased a home. I am 65 and will be about 91 when it's paid off. The mortgage rate is 1.999%. I could pay the balance of about 350K off right now but choose not to because my investments make a lot more. You don't have to have a paid off house in retirement. It just depends on your circumstances.

[@bonniemartin4232]

@@Retired_Life_1 Exactly! I have a mortgage for the next 26 years LOL

[@jeffstanger88]

these expense levels sound like retiring and staring at the wall. what kind of retirement is that?

[@BurritoSupreme42]

Most people have no choice aside from the poor choices they made earlier in life

[@FinanceWallett]

😍

[@mhodge0890]

No you cannot you need at least 2 million

[@Michael-uf1hz]

It depends, blanket rules never work for everyone.

[@k31rifleman]

So basically $500,000 isn’t enough