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

[@yourfinancialekg]

**To schedule your virtual retirement and investment consultation with Drew, please select a day & time that works best for you: calendly.com/pearlwealthgroup/discoverycall **

[@liftdancefitnessarts3765]

It looks like you don't have any availability in the next several months.

[@onebridge7231]

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.

[@yourfinancialekg]

Very true!

[@70qq]

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

[@yourfinancialekg]

Great comment!

[@tdgdbs1]

Precisely my sentiment; $4000 a month is great living outside the US. I've lived well in Vietnam and Mexico on half that amount.

[@yourfinancialekg]

@@tdgdbs1 Awesome!

[@pathkris2984]

@@tdgdbs1 Make it $5000 per month and you will be able to live in the US if you live frugally (paid house and medicare assumed).

[@sidneysfamily8760]

You need to start a channel

[@scottc3029]

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

[@yourfinancialekg]

Never...

[@rayanderson3164]

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.

[@yourfinancialekg]

You are a slam dunk my friend! 🏀

[@bobbyrichardson2068]

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.

[@yourfinancialekg]

Directly with me. Thank you so much for watching!

[@fxdnny]

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

[@yourfinancialekg]

Probably work longer.

[@sherryl104]

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

[@yourfinancialekg]

Thank you for watching Sherry!

[@davila0893]

Drew. Great video. Gives my hope.

[@yourfinancialekg]

I believe in you!

[@asandrik3124]

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!

[@4040smokey]

Wow. That's crazy confusing.

[@yourfinancialekg]

😮

[@asandrik3124]

@@4040smokey Trust me it took me the better part of a career to learn this! 🙄

[@asandrik3124]

@@yourfinancialekg Seriously, if you ever want to speak about Federal Retirement I'd be happy to share a santized GRB retirement estimate with you. You would be shocked how much comes out of the FERS "Pension." Wouldn't be mine, but could estimate "AL's net."

[@dday11]

Good job. Stayed positive

[@yourfinancialekg]

Thank you for your comment and engagement with the channel!

[@johnm8557]

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

[@yourfinancialekg]

Hey John! Great question. We charge a one time fee to create the personalized ekg. Please email me at [e-mail] and I can give you more specifics.

[@kevinfestner6126]

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.

[@donaldlyons17]

I think most of us will need that much because housing 30 years from now might cost 800K if not 1 million per average house!!!!

[@yourfinancialekg]

That is so true!

[@willkirk486]

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

[@yourfinancialekg]

Will, the software is called Retirement Analyzer. It is a professional based software program for financial advisors. Thanks for watching!

[@jeanettebonf631]

Thank you so much God bless and 61

[@yourfinancialekg]

Same to you!

[@closecatapult8472]

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

[@yourfinancialekg]

Great question. I use home value - mortgage. I only give real estate a 1% rate of return annually. Probably will be more but I’m being conservative.

[@closecatapult8472]

@@yourfinancialekg appreciate it but where do you get the home value? for instance Realtor, Zillow, Redfin? For now, I use an average of these then reduce it by about 10%. Just wanted to know your method.

[@jakefromvirginia]

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

[@yourfinancialekg]

😂

[@punisher6659]

Hello Drew.

[@yourfinancialekg]

Thanks for watching!

[@alvinf7739]

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

[@yourfinancialekg]

Thanks for watching! It is 5k annually for travel.

[@alvinf7739]

Thank you. At 14:24 you said annual and then said 5,000 a month. I got confused but thanks for the update.

[@ronmorosey672]

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

[@yourfinancialekg]

True!

[@chaleej5571]

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

[@yourfinancialekg]

Very true. Need to be prudent in your planning.

[@chrisg4118]

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.

[@larriveeman]

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

[@yourfinancialekg]

Very true!

[@bruced.370]

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

[@yourfinancialekg]

Recent Fed Survey showed a low figure. I believe in the 20%. So not many but more than you would think.

[@teams3345]

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.

[@yourfinancialekg]

Thank you for the comment! Feel free to reach out to us if you would like to discuss your individual situation. Would be honored to help! Contact us here: info@pearlwealthgroup or pearlwealthgroup.com

[@4040smokey]

4% of 3M is $120K plus you both qualify for SS. Enjoy life. Sounds like you're not considering your vital years. Do the math. Have some fun.

[@NipItInTheBud100]

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

[@yourfinancialekg]

The names have been changed to protect the innocent. 😂 I’m always looking for some ideas 💡 Any thoughts?

[@randall8379]

You look more professional in a suit

[@mattf3348]

He can retire never

[@yourfinancialekg]

He will. Just takes baby steps

[@michaelpiwcewicz1412]

NEVER

[@yourfinancialekg]

It can be done!