I Need 45k in Retirement Income, How Much Do I Need Saved?

[@yourfinancialekg]

**Free Retirement Download: The Checklist to Retirement:** 📊 pearlwealthgroup.com/ **

[@johngill2853]

I like the idea of the new series of content

[@elitehills1544]

This was great! Thank you

[@yourfinancialekg]

You're so welcome!

[@connielane-ross3753]

Love this message. Mortgage up & down if property taxes go up? Thank you!

[@aday3583]

What does the EKG cost?

[@yourfinancialekg]

Reach out to us and we can chat: pearlwealthgroup.com/contact/

[@jeffgagnon2622]

Thanks Drew, I like the way you do the math here.

[@yourfinancialekg]

You are very welcome

[@7SideWays]

$45k per year is at least realistic. With no housing expenses we could do that although Alpo would be involved. For reference, $48k in passive before tax income would take holding about $800k in mortgages or 6% dividend yielding stocks.

[@JohnMcCaslin-d9n]

If we want a Financial EKG with you and not a rep from your firm, how do we go about that?

[@yourfinancialekg]

Email us here and state that directly: [e-mail]. Would love to help!

[@EBMB21]

There’s hope for a 66 yo retiree! Thanks for that demo!!

[@yourfinancialekg]

Thanks for watching!

[@Robert17368]

My spectrum bill goes up THREE TIMES A YEAR 😢

[@yourfinancialekg]

Feel you

[@EBMB21]

@@Robert17368 I gave up on cable 4 years ago. I watch KZbin tv instead if I want to. The use of tv is becoming less and less important to me.

[@elibennett6168]

We dropped cable. We have a Samsung TV with free channels and movies, plus have Amazon prime and netflix, and occasionally buy passes to sports. We don't miss the cable at all.

[@patassion]

Did you only put inflation one time?

[@joekuul8769]

Correction/Addition to the statement about the Rule of 55. You don't have to be 55. You can be 54, and as long as you start taking money in the year you will turn 55, it's okay. So, my 55th birthday could be December 31, 2024, but if I lose/quit my job today, November 12, 2024, I can start immediately withdrawing money, 10% penalty free (though I'd probably wait and confirm all dates, etc., with my [former] HR department and/or plan administrator to make sure everything is notated correctly for the IRS). Do your own research, though, please, as I'm just a guy on the internet, and you should be wary of those.

[@TimCato-hk6rg]

Triple check to be certain your 401K plan participants in the rule of 55. I double checked my plan with my 401K advisor and their supervisor and was told everything is good, retire as planned. When my first planned monthly withdrawal was missed, I contacted the advisor and was told they do NOT participate in the rule of 55 and my options were to take a onetime 100% withdrawal or wait until I was 59.5.

[@maxsanemitchell1609]

This is 45k per year?

[@yourfinancialekg]

Yes

[@maxsanemitchell1609]

@yourfinancialekg thx, some people thought you meant per month!

[@NipItInTheBud100]

@@maxsanemitchell1609LOL

[@edgardzayas8421]

Folks try not to have a mortgage expense when it’s time, that will make retirement easier.

[@yourfinancialekg]

Yes

[@targa1659]

Absolutely….easier said than done, but yes, that is the secret.

[@taffyalusa4642]

So if you retire at 62, medical??

[@yourfinancialekg]

ACA

[@taffyalusa4642]

@yourfinancialekg probably gone with new president.

[@johnbrown1851]

​​@@yourfinancialekgnot if the Trump cult have their way.

[@BillUtah]

@@taffyalusa4642the ACA has been around since 2010. The new leadership was also the leadership from 2017-2021 and nothing happened. 🙄

[@taffyalusa4642]

@@BillUtah him and Johnston have already said it's the first on the chopping block.

[@bruceeigsti5274]

45k is all u need? Wint need a whole lot of income

[@ChuckHolland-i4b]

Have to pay off house, credit cards and auto loans. Otherwise, it's cat food for dinner.

[@SurfCityBill]

$45,000 per month? Going to have to be frugal.

[@SuzanneU]

This is per year!

[@stevesilver7437]

@@SuzanneU😅

[@Sky1]

I thought we were retired now wife starts another job and I am getting dozens of high pay offers but I don't need the money. Just want a part time gig.

[@JetFire9]

Get dressed!

[@rhondavigil795]

I retired and now work a few hours each week at a non-profit.

[@warrenrobinson1525]

I’m not looking for a run-off number. 😊 Good video, interesting to watch you do this run through. It’s depressing to think of a static number that goes to zero as we age. A better plan would be to construct a investment portfolio that delivers the required funds , yet keeps on growing and making us wealthier as we age in retirement. Richer in terms of total net worth and in monthly distributions. Sometimes the risk of running out of money in retirement is greater taking the most conservative course. Perhaps a thoughtful offense is the best defense here. I also understand that if people are told to retire with a million portfolio that they draw only draw 2.5 - 3.0% from each year they may quit watching. They may want to here that they can now withdraw 10% from a 100k portfolio and have the principal last forever. Better to be conservative, but not settle for a retirement plan that runs out of money as we reach the last 1/3 of retirement. For me I want a portfolio that runs and grows like a machine. A machine that throws off ever increasing cash flow.

[@yourfinancialekg]

Thanks for watching, great comment!

[@NipItInTheBud100]

Why? You can’t take it with you when you go!

[@warrenrobinson1525]

@ That’s what people with under funded retirement accounts say.

[@garyfarley323]

The Atlanta Braves have won four World Series, in 1914, 1957, 1995, and 2021, ...😁

[@yourfinancialekg]

12 in 97!

[@11Bravo84]

45k😂

[@joyofnft8084]

Could you at least spell retire? 😂