$863,000 In Savings At 60 Is NOT Enough To Retire | Case Study

Looking to take control of your retirement? Book a call: bit.ly/brindle...
___________________________
We're a Frisco, Texas-based independent financial advisory firm serving individuals in several states nationwide. We're here to listen to your needs and guide you through the financial planning process.
Any references to client experiences made in this video may be deemed to be indirect testimonials. Clients were not compensated for providing any testimonial statements.
Any references to client experiences are for illustrative purposes only. Actual client experiences will vary.

[@everettcalhoun8197]

Two things I rely on when listening to a financial retirement expert. Does he or she base his model on expenses and does he or she use fear of SS going bankrupt to base decisions on. SS will never go bankrupt and the amount anyone needs to retire is directly based on your monthly expenses. End of story.

[@markwilhelm6938]

Bah. Jim and Sandra want to travel, not work part time! 1) adjust your portfolio to 60% stocks. 2) Sell your house and live off bridge of $448k. Drop it into an accessible brokerage with 4-6% returns 3) get retiree visa and move overseas to picturesque low cost area where health care is $300/yr. 4) Rent yearly (max $20k/ year) 5) while overseas, travel locally to neighboring countries… your $ stretch further! 6) repeat once a year for 5-10 years and invite family/friends to come to you. 7) tap your 401k in about 8-10 years, which should be around $1.2-1.5M. Do what you want at that point…. 😉 ✈️

[@brindleandbay]

I’ve always thought #3 was a great idea for those open to it !

[@liverpool3469]

It is not a mathematical question, but why they are thinking about retirement when: 1) they still have a mortgage, 2) they are not a retirement age people? The correct question would be: 1) Can I retire with $863 - $202 = $661k? and 2) Can I retire 7 years earlier?

[@CaptainQueue]

IMO this 60 year old person should compromise and work until 65 to minimize expenses, get to Medicare and let their Social Security grow that much more. Even better is Full Retirement Age of 66-67. I did not collect SS until 70 and it was one of the few good financial decisions of my adult life but that is not for everyone. I salute all who can retire this early, but it is not wise for everyone.

[@JP7onEarth]

Fully depends on where you retire!

[@djcoolrule]

What's bad is everyone thinking about medical expenses. You can live in fear and never experience life as you should. Be smart, find some good investment opportunities, and stop trying the match the Tiktok and Instagram lifestyles.

[@chadgriffith1969]

I am a 55-year old burnt-out doctor planning retirement soon. Currently seeking best strategies for market downturns and hyperinflations to save my $400K declining portfolio

[@evilzzzability]

These guys are so far off they should just get their heads down a do an extra 5years

[@DJohnson-od6oj]

Great video can you please do one explaining the spending smile with guardrails. Maybe a single person with 1 million portfolio (since that is what we aspire to).

[@brindleandbay]

Good idea .

[@trovatoreleathergoods4669]

What about Roth conversions? Would that help?

[@livingontheedge8680]

What jumped out at me was their health insurance cost is ridiculous, I am guessing they plan on private insurance. Also, all of their savings is in a tax deferred account, thus they have a high tax liability. If they are able to reduce expenses far enough to qualify for ACA, I suspect it would make a significant impact several ways.

[@pensacola321]

Because you can't afford to retire. Geez.