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

I Need 45k in Retirement Income, How Much Do I Need Saved?
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Wondering how much you need to retire comfortably with a $45,000 annual retirement income? This retirement video breaks down the essential steps to calculate your retirement savings goal. We'll explore factors like inflation, retirement investment returns, and Social Security benefits to help you plan for a secure financial future. Whether you're a young adult just starting your career or nearing retirement, this guide will provide valuable insights to maximize your savings potential.
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Here at Pearl Wealth Group, we run a trademarked retirement investment and retirement income plan for individuals and families who are wanting to retire called "Your Financial EKG™." What we are trying to visualize is how long a persons retirement savings are going to last throughout retirement. If you are looking for early retirement planning tips or trying to saving for retirement, a Your Financial EKG™ is a great tool to help you understand where you are in your retirement planning. Retirement planning and retirement income strategies shouldn't be complicated. They should just be done right.
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❌ *Please make sure you talk with your CPA, Financial Advisor, Retirement Planner, or Investment Advisor Representative, before implementing any content from this channel. All videos are for informational and educational purposes only. None of the content, comments, responses, information, or any other item on this channel constitutes financial advice or recommendations. Please call Pearl Wealth Group at 813-807-5060 to go through your Retirement Income, Retirement Investments, or Retirement Plan in more detail.* ❌
Pearl Wealth Group
Drew Blackston, CRC® & RFC®
Office: 813-807-5060
3905 Tampa Road Unit 26
Oldsmar FL 34677
[e-mail]
pearlwealthgro...
Getting you to Retirement, through Retirement, & protecting YOUR ability to stay in Retirement!
#retirementplanning #retirement #financialfreedom

[@yourfinancialekg]

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

[@PeaceAndWheelies]

This was great. $45,000 seems pretty appropriate for me. I will get around $1000 in a pension in my 60s, and I have $380,000 in my retirement investments, today at 51 years old. You made me realize I should be retired at 60. Plus, you let me know it may be better to claim social security earlier than 67.

[@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!

[@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.

[@aday3583]

What does the EKG cost?

[@yourfinancialekg]

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

[@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!

[@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.

[@jeffgagnon2622]

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

[@yourfinancialekg]

You are very welcome

[@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.

[@EBMB21]

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

[@yourfinancialekg]

Thanks for watching!

[@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.

[@patassion]

Did you only put inflation one time?

[@sreinert6685]

Yeah, he is not compounding the inflation each year. Looks like he added the 3% on after adding up the total expenses for 25 years and multiplying that by the 3%.

[@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.

[@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!

[@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.

[@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😅

[@11Bravo84]

45k😂

[@joyofnft8084]

Could you at least spell retire? 😂