How Much Money Do You Need To Retire | Retirement Travel School

Welcome to Retirement Travel School. Today we are talking about how much money do you need to retire. This is the first in a series of our new free course on early retirement.
Our KZbin Course:
groundedlife.t...
Credit Cards We Use:
Chase Business Ink Preferred (affiliate link)
www.referyourc...
Chase Sapphire Reserve Card: (affiliate link)
www.referyourc...
Chase IHG Credit Card (affiliate link)
www.referyourc...
Marriott Bonvoy Credit Card (affiliate link)
www.referyourc...
What We Use To Invest (affiliate link):
a.webull.com/T...
Things We Use:
Favorite Travel Adapter: amzn.to/3I3xusX (affiliate link)
Rob's Backpack: amzn.to/3wjJRON (affiliate link)
Allie's Backpack: amzn.to/3T5bnZq (affiliate link)
Loop Earbuds: amzn.to/3wnOUxE (affiliate link)
SafetyWing Nomad Travel Medical Insurance (affiliate link)
safetywing.com...
Nord VPN: (affiliate link)
www.kqzyfj.com...
Our esim cell phone provider (affiliate link)
www.airalo.com...
Our Other Channels:
Grounded Life Travel: / groundedlifetravel
Grounded Life Cruises: / groundedlifecruises
Travel Asia With Allie: / @travelasiawithallie
Travel Thailand With Allie: / @travelthailandwithallie
Our Daughter's Book Channel:
/ @alexamarmion
DISCLAIMER: The opinions in this video are for informational and educational purposes only and should not be construed as a recommendation to buy or sell the stocks mentioned, or make any financial decisions based on them. Always do your own research to determine the best course of action for yourself.
As an Amazon Associate I earn from qualifying purchases.

[@mlrussell1]

Stayed two weeks in Pattaya at Arcadia Beach Resort for less than $300 (internet included). A beautiful one bedroom condo, pool, gym, and nearby food vendors. What's crazy is when I got back to Long Beach, CA, my hotel was over $200 for one night. I couldn't wait to get back to Thailand; it's crazy to continue to pay these ridiculous prices here in in the states.

[@GroundedLifeRetirementTravel]

Indeed, thanks for the property recommendation, we are always looking for new ones.

[@ryanccc777]

Thanks for the great info!! I think the $1mm-$3mm number touted by a lot of advisors scares people into retiring much later than they actually could. I greatly appreciate the real life examples!

[@GroundedLifeRetirementTravel]

Yes, we do too. We are averaging living on 3.5k per month right now, but it would be much less if we just stayed in one place.

[@angelaterranova1577]

I think that number is accounting for health care costs in the later years especially nursing home care or in house care. That is all very expensive!

[@CafeLu]

@@angelaterranova1577as long as you are not in the US, it wouldn’t be bad. Plus if you are in the us at least you will have Medicare then.

[@maybelline888]

The big number includes the ultra high healthcare premiums for later in life (to supplement the Medicare)

[@ManhattanRats]

You guys confirmed my numbers today! Thanks for pointing out that if you can reduce expenses AND debt, life is easier and comes with more options.

[@GroundedLifeRetirementTravel]

You make a great point about the debt, very important. One day we realized we didn't have an earning problem, we had a spending problem. Everything is less stressful when you spend less.

[@EzzyDT]

Thanks so much for this video. I never understood needing millions of dollars to retire because my life choices were incompatible with those calculations. I am in my early 60s. I have IRAs, but most of my income comes from military retirement and rental property. I could never translate my income into millions, but when you give me 1000 or 2000, I can relate. Thanks so much for making understanding retirement money calculations easier. easier.

[@narayananramachandran533]

You are doing a great benefit to readers. Keep it up👍

[@ericeichstaedt2357]

That's just amazing. Of course you need to be free to roam the world, and not everyone is. Family obligations, etc. but eventually, when the time is right,it's nice to know this opportunity awaits!

[@DaveM-FFB]

Beautiful places, although this scenario comes with some radical assumptions in retirement. #1-You're going to sell everything that you own (home, car, stuff). #2-You won't have a "nest" to return to in the USA. #3-You're okay with medical care outside of the USA. #4-You have the physical ability to be on the move from country to country based on specific visa requirements in each country. #5-Infrequent visits to family and friends. This might work best for some early retirees and digital nomads, but it may be difficult for older retirees.

[@GroundedLifeRetirementTravel]

Yes, it's pretty much just pointing out what is possible, the lowest you could do it on. Although when we were in Thailand we met many people doing just that, on about $1,000 per month. If you are over 50 you can get a retirement visa there, and it becomes more doable.

[@MrWaterbugdesign]

Could be difficult for anyone. Don't see why age would matter. I do think the roaming from country to country is social media nonsense. I've watched many traveler channels for about 5 years and it always gets old after a few years. Some keep up their channels because they make a lot of $$$ but clearly they're less and less happy each year. It's entertaining to watch, but to do it? About medical care... I'm 67, American, and planning to move to SE Asia next year for the adventure #1 but #2 is medical care. There are great hospitals in some major cities that are so good foreigners fly there just for treatment. I can hire a line-in trained caregiver for $500-800/mo USD. A doctor in a private hospital earns about $500/mo so I could hire my own private doctor. The difference for me is the wait to see a doctor. In the US it can be weeks, months. In SE Asia it's hours, maybe a few days for specialist. Doctors will spend all the time you want. In the US doctors are trained to spend the least possible time with a patient . Right now I have a sore tooth that needs a root canal and it's a 3 month wait. Can't be heathy to have an infection in a jaw for 3 months. And that's just for the evaluation. Who knows how long to wait for the actual root canal. Then another wait to get the crown. If I drive 3 hours to Mexico I can get an appointment in 7-10 days and get it all done in one day for 75% less. But I have insurance so I'm trying to the US system. I'm looking forward to medical and dental in another country.

[@DaveM-FFB]

@@MrWaterbugdesign Most countries don't just let you stay indefinitely. Visa requirements dictate the maximum amount of time, forcing you to move on to another country after 3, 6, or 12 months. Some countries have some sort of retiree visa for longer stays but there are usually income requirements and/or net worth requirements.

[@meoshabell2622]

I'm 50, so this is interesting. But the one thing that I'd like to understand is why, it seems, that you have a belief that you are retired? You all are working all of the time. Content creator is a job. And if that is part of the expected income, you are entrepreneurs, not retirees. Or am I missing something? I'd love to do this, but I don't want to have to create content to have to do it. Is it still possible?

[@DaveM-FFB]

​ @meoshabell2622 I know. That's funny. There's a widely held belief that self-employed people are "retired" because they control their own schedule and treat their enjoyable work like a hobby. I was self-employed for 30 years, working 25 to 50 hours per week (on my schedule). I never considered myself "retired" until I sold the company.

[@scampbell6465]

Thank you for this information. I've seen some of your other videos covering insurance, phone service etc. Looking forward to more.

[@GroundedLifeRetirementTravel]

Thanks, coming up soon

[@slowmads]

Always an interesting conversation! We ran the numbers and figured $750K would work. We now have $70K in social security and plan to pull 30-$40K a year for a total annual spend of $100-110K. That’s been our average annual spend for the last 3 years of full-time travel. Southeast Asia is too hot for us so we just offset the stints in Europe, Australia and New Zealand with 8-10 weeks of pet-sitting.

[@slowmads]

@@miragexl007 Mine is is 54K. My husband’s is $16K. He started taking his at 62, I worked until I was 67 but didn’t start taking my SS until I was 70. And “old” is a relative term but yes-we are probably among the older full-time travelers at the ages of 75 and 70 now. Live Your Life. Live Your Life!

[@lmpreston1]

This is great information and sharing creativity. We struggled with this and we really prefer living close to family. Also, having our creature comforts and sleeping in our own beds for the majority of the time. We do travel and can be gone for about a month before we miss home. I think that's the most challenging part, thinking outside the box and approaching retirement in smaller timeframes. Like where do we want to live for 1-3 years, then what is the plan after that.

[@GroundedLifeRetirementTravel]

Great thoughts, thanks for sharing.

[@christinecline-leung9520]

Appreciate the videos that challenge assumptions.

[@GroundedLifeRetirementTravel]

Thanks!

[@no_soy_rubio]

Awesome to see the options out there! I'm planning more on being a digital nomad than a retiree but this is great info, thanks 😊

[@GroundedLifeRetirementTravel]

Awesome, that's how we started too.

[@CafeLu]

You are speaking directly to me in this one!

[@GroundedLifeRetirementTravel]

Awesome!

[@hellokt9101]

You are such an inspiration! I've recently retired and my husband will retire in two years, so I'm in research mode. I really want to slow travel for two + years but need to convince him that it is possible on our pension checks alone...without touching our other savings. You are providing the exact info we need. I'll be watching every episode. Thank you.

[@GroundedLifeRetirementTravel]

Thanks! We were going to do it for a year, and now we are on year 6!

[@brookenigh]

Me: Their content just couldn't get any better. Allie & Rob: But wait....there's more! I love this series already and can't wait for new videos on Mondays.

[@GroundedLifeRetirementTravel]

Thanks for your comments, we love them!

[@filamphibian2980]

This is a great video as there is way too much of a push for those higher retirement numbers. And my fear is that too many people in my age group will be scared into working well into their sixties, plus, because they are told by Fidelity or Vanguard, etc. that they don't have enough. Thank you for getting the word out thru your amazing channel(s).

[@mobujr]

Im paying ATTENTION!!!!👍🏽

[@GroundedLifeRetirementTravel]

You need to come visit us in Thailand next year! We will show you around!

[@AccordingtoWarren]

Great topic, excited to see the rest of the videos!

[@GroundedLifeRetirementTravel]

Thanks!

[@AG-so4gl]

Malaysia and Thailand best value in SE Asia, and top healthcare. Ive lived in both and will be settling there again.

[@mayyang8350]

Thank you for always putting out such great content.

[@PrimeTimeTravelers]

Hoping to have house to sell and money coming in from stock dividends as well as my pension from Florida. Thanks for the great tips as always!

[@GroundedLifeRetirementTravel]

Best of luck!

[@vikashsinha9932]

Great video. Can you also cover in one of your videos how do you cover for your medical insurance especially when you travel abroad long term. Do you take pvt insurance.

[@GroundedLifeRetirementTravel]

It's all here: kzbin.info/www/bejne/bp_MnYtnlqhrp5I

[@wendymilley5391]

Awesome info, looking forward to future videos❤

[@GroundedLifeRetirementTravel]

Awesome! Thank you!

[@TheSicilianLife]

Very interesting ~ thanks for sharing! What about travel to and from these places ~ wouldn't that be a huge cost to add to monthly living costs?

[@GroundedLifeRetirementTravel]

We use cruises and inexpensive flights, so it doesn't cost much at all

[@sholeh4334]

Thank you so much for sharing..

[@GroundedLifeRetirementTravel]

You are so welcome

[@earlyretirement1459]

I think we're wading into some dangerous ground here. You're suggesting at 4.8% withdrawal rate, with withdrawals adjusted for inflation each year, from a 100% stock portfolio as being sustainable. I've done a lot of research into safe withdrawal rates and 4.8% isn't safe. We need to be very specific in terms of the goals that we expect the portfolio to meet. The idea of a 40 year old following this advice makes me very nervous. I think we need to put much more emphasis on lowering expenses versus trying to modify all of the existing research on SWRs.

[@GroundedLifeRetirementTravel]

We are suggesting a 0 percent withdrawal rate and living of the dividends while the investments grow. Still, it is at the very low end of what should be done. We also suggest working on earning some additional income eventually if you take this route.

[@jackbaldwin3649]

Great advice and I agree! I'm going to assume you mean min. $250k for a couple as you guys are a couple. As you both have pointed out this certainly doable and most particularly if you live abroad. My partner and I are starting my own retirement adventure this year and we can't wait to test the limits of our budget and imagination!

[@GroundedLifeRetirementTravel]

Yes! Thank you! For a couple. Hope you have a great adventure!

[@bkhunt69]

Hey I'm a recent subscriber and fortunate enough to have a small government pension of about 3K a month. I spent my career living overseas with the military and an embassies. I can attest that many countries that you can live on $400 a month rent have a much more advanced cheaper and faster medical infrastructure. I know a lot of your viewers are concerned with that. Combine that with about 500k TSP that I will draw at 59 and a half until security at 62 will kick in another $2,500 a month. So these numbers add up to me and make sense to what I have been finding.

[@richardmenz3257]

I say 350 k in SCHD. Live off dividend for 1k a month. N as your profile grows your spending grows.

[@laurawinger4339]

Holy. Crap! I have a couple hundred bucks to go live in Thailand for a month! I'm curious how you figure out some of these smaller towns--maybe less well-known among the average 2-week vacation travelers--to go stay in? Like, the big tourist destinations are well known but the amount of small gems around the world is vast and (to me) overwhelming. How do you find them/decide where you want to go?

[@FunandBudget]

I.Love.This!!!!

[@GroundedLifeRetirementTravel]

Thanks!

[@jport3707]

The so-called experts who tout the millions required to retire comfortably want you to buy their books and newsletters. Remember anxiety sells. The more you fear retirement the more you spend researching. These folks are right. Live within your means and you can retire on just about anything.

[@patbajzek4089]

How do you handle US taxes? Do you have to have a PO Box or such for mail, or how do you handle that? Wondering about the specifics of not having a “home base” in the US….. If this info is somewhere else pls refer me there. And fyi-love the channels!

[@AngelaKHarrell]

Ok, I have a question: I've only stayed in one AirBnb and someone else rented it for me. But is your credit checked when you rent these in other countries? Also, do you have to pay very high security deposits (i.e., more than double the amount of the expected rent)? What is the best way to vet foreign AirBnbs (i.e, is it solely based on the reviews you see and the star ratings)? As always, thanks for the video!!

[@GroundedLifeRetirementTravel]

Stick with super hosts and all should be fine. You don't need to pay any deposits when you rent them.

[@valerieford8502]

Hello. I'm 60 yrs old. I recently started investing in stocks. My question is what are the best dividend stocks to invest in.

[@scriptimonicaonset]

That’s so inspiring. Thank you for that. When you invested that $220,000 what kind of stocks did you put it in to get that kind of return?

[@GroundedLifeRetirementTravel]

This is talking about a dividend portfolio, but we didn't invest in that, we are mostly invested in growth stocks as we are not living off the stocks right now.

[@johnlamers4762]

Interesting topic for sure to me. I am in my early 50’s and would love to retire at 62 but am afraid of what income I would loose out on by doing so. There is a big gap on SS between 62, 65, and 67. Granted would love to retire not needing SS but at the end of the day, it is a major factor in most peoples decision. Medical is also a big one for most. How do you keep up medically speaking if bounce from country to country????

[@GroundedLifeRetirementTravel]

We are also considering that, planning on 67. We have international health insurance.

[@johnlamers4762]

@@GroundedLifeRetirementTravel interesting will have to look into that. Thank you!

[@dominichoward4833]

I cant find your other channels... can you point me to them?

[@soldierhobby2038]

Click on their vlog channel(Grounded Life Finances), scroll down a bit and you’ll see their other channels.

[@maryannchandler2019]

Thank you!

[@GroundedLifeRetirementTravel]

You're welcome!

[@deartori]

Where is the how to start a utube channel video?

[@paitown9673]

I would consider Thailand but their shrimp are so big...I'm afraid of getting eaten by one.

[@debbipurcell8108]

Doesn’t sound like you are sharing actual Apartments that you rented. That would be very helpful.

[@GroundedLifeRetirementTravel]

Our apartment tours are in our monthly budget recap videos.

[@jumpintofall56]

I have so many questions! Thank you for sharing your experience and insights. If old school, as in working in real businesses, is it possible to work part-time or full-time in any of these cheaper countries? Or is it so cheap, we won't need to work and can enjoy a liveable retirement?

[@GroundedLifeRetirementTravel]

You wouldn't make enough to make a dent usually, depends on the company of course. Most people that go that route teach at a private school, which often includes housing allowances, so that can be good.

[@jumpintofall56]

@GroundedLifeFinances oh sorry, I meant you have enough money for travel, but if you are staying in a place for a while and are still able to work, can you work part-time for a short time? It would be fun, especially if English speaking. I am kind of funny that way. lol Great way to meet interesting people. 🤔

[@FoodiesVacations]

How about if you get more than 1000 for SSN… I’m not going to have 250,000 anytime soon. 😊

[@GroundedLifeRetirementTravel]

It doesn't matter where the income comes from, as long as it's steady.

[@memphistnliving]

How can you make 1000 per month with 250000 invested my judgement is roughly 400 per month when invested in time tested safe instruments as we are already retired and dependent on this can you explain please

[@GroundedLifeRetirementTravel]

If you have 250k invested in a dividend portfolio that averages 5% dividend yield. Then you just live off the dividends and let the portfolio grow.

[@DaveM-FFB]

$12K/yr is 4.8% of $250K. A dividend portfolio would cover it without accounting for inflation. However S&P Index funds historically average a total return of 10%/yr over the long term. There's no guarantee but if you draw 5%/yr and increase withdrawls by 2.5% each year for inflation you would still have a decent buffer to cover short term risk. But safe harbor investments with zero downside risk will only yield 1% - 2%.

[@memphistnliving]

In case of thinking $250K as retirement corpus dividend porfolio investing in individual stocks - Do you think this is a safe bet compared to much conservative index funds. Nowadays banks offer 5% that brings this closer to $1000 per year but no guarantee more than 2 years based on Cd rates@@GroundedLifeRetirementTravel

[@memphistnliving]

I agree with you. Index funds yield is around 2-3% based on last few years. We might bet on 2 year cd with some banks offered closer to 4.8%-5%@@DaveM-FFB

[@cheaptravelfeelsgood4582]

$2000 per person or couple???

[@GroundedLifeRetirementTravel]

All the numbers are per couple

[@glendevy8468]

£12000 a year. But don't be forever greedy and don't be materialistic in any way. Don't fall for all the shit and you can definitely retire early.

[@jimboandkris]

Have you discovered any downsides to living in a 3rd world country like Thailand or Vietnam? (I'm assuming they are considered 3rd world, correct me if I'm wrong.)

[@annekimani7084]

How can i make 1000 a month from the 250k?

[@GroundedLifeRetirementTravel]

Dividends

[@annekimani7084]

is there a video for this kind of divideds

[@fortgrove3166]

She is retired? She looks 35 years old.

[@comment5884]

❤

[@1lllllllll1]

I can go camping under a bridge and retire on $5 while panhandling for food and never using health care or going anywhere.

[@lostboi3974]

I am going to Jomtien tomorrow for a 1 month trip

[@GroundedLifeRetirementTravel]

Wow, have a great time!

[@carmenwhite8744]

So you do need a million to live comfortably in the US after retirement….

[@GroundedLifeRetirementTravel]

It depends on where you want to live. There are lots of retired Americans living on $2-3k per month comfortably. Not in Manhatten though.

[@LawnLifters]

🕊️🙏🏽

[@masoncnc]

Tucker Carlson went grocery shopping in Russia and learned prices in the US are a scam.

[@jackbaldwin3649]

Tucker Carlson is a moron, not an economist. There are fundamental reasons products, rent, etc. are less expensive overseas.

[@reneeemigree9004]

The US will tell them that’s what’s needed, that’s their game. And in the US, lots of places require more expensive prices, yes, that could be the case. They Always Also Like To Put Out Negative Reports (although in the US, it’s true in many places). And one needs to get an off grid prop in a safe haven, so to speak, bec when the digital money comes along… all money and assets (including investments) will be controlled in most of the world, especially the western world. Bec we are living in eschatological (end times) prophetic, and these globalists are itching to get this thing started, controlling everything of more than 75% of the world. They want to decide how one’s monies will be spent - even if ‘you’re allowed to buy an item’, with the help of AI. However, pray, go to a small off grid country, Jesus said, flee to the mountains. Rural. Definitely out of the US. And He is currently holding things back for this season, time frame. But one should go to an obscure out of the way smaller country, mostly non English speaking, to an off grid area. Until these things play out. Will send links. For now, we’re believing it’s ok, but one must prepare and be ready to walk away from all of it. For a certain time frame. End of lecture. Will send links. ✅😀