I'm 61 Years Old with $500k. Can I Retire?

[@debzeb6899]

I really appreciate David making his finances transparent so we can follow along and think about our own circumstances. Thank you David.

[@Alan-lv9rw]

I retired at 61 in January 2024. I receive $78,300+ per year with my pension and SS combined. I have a small 401K. No debt, except my mortgage. I was working 50 hours per week in an extremely high stress job and am now pre-diabetic. I’m focusing on my health for the first time. I have zero regrets about retiring; it was the best decision I ever made.

[@rockk973]

Tomorrow is not promised. Lost my wife to cancer at age 41 . I'm 51 and never went back to work so I can care for our 2 small children. Mental health is important

[@JimS-p9v]

Big fan of all of your content but this is, far and away, the best video you’ve done. Highly detailed without undue complexity, very relatable. You hit every significant topic I would have brought up if I were sitting in David’s chair. Thanks!

[@RootFP]

Glad you enjoyed it!

[@Matt-Burt-FL]

Agreed!!

[@HOOTGIBSON-jq1jf]

@@RootFP ​ @RootFP Liked and Sunscribed James! I feel helping working middle class people like this are more true to life, as opposed to multi-million portfolio scenarios, help a greater audience.

[@DavidSmith-wq3wu]

Refreshing to see someone who doesn't have a boatload of money and how planning is approached.

[@WillN2Go1]

This was terrific. I did the same thing this week so I was curious. What I've seen all too often are people who have worried about retirement since they got their first job, they're in their 40s and they still have no clear idea of what they're doing. All the financial education they've had are Rich Dad Poor Dad trash, and 'financial planners' selling them insurance annuities... The meeting I had, confirmed that my basic understanding of my situation was good. I could've skipped the meeting and the expense. However, a few things I did wrong were clarified, and professionals confirmed that what I'd understood about budgeting, projections, etc... we're correct. Had I had that meeting five years ago I would now be in a better financial position. So I did figure it out on my own, but at a much higher cost. One key thing I did gain from the meeting was by clarifying my situation, any anxiety or doubts I had are taken care of. Good money well spent. And I like David. He's retiring for a good reason. I was teaching at a horrible school, kid had a gun in his bag (he wasn't going to shoot anyone, but stupid.) The principal said that if I didn't actually see the gun there was nothing he could do.... I said, "I won't be back." Retired then and there. If the financial planners this week had told me I was short for my financial plan, I could go back to work, teach somewhere else, do construction work.. Having options, not feeling trapped, and not being desperate because of not knowing; and being able to hire someone who does know and is fiduciary to my interests has given me a lot of confidence in my retirement.

[@NipItInTheBud100]

Exactly what I was thinking! I always those videos with people who have $2 million dollars and are worried if they have enough to retire!!

[@go2gym]

@@NipItInTheBud100 ... $2 million, low expenses like David, and still worried.😂

[@aquicktake]

Very true - especially since Root Financial doesn't usually entertain clients with

[@hogroamer260]

Yet his assets are higher than the average American.

[@lorilester5833]

Im so glad to see a video with a scenario closer to my reality.... I'm never going to have the portfolio numbers that James usually runs scenarios on. Thank you!

[@As_A________Commenter]

No one cares, work harder.

[@mstraction]

@@As_A________Commenter Rude much??

[@stevebeaver6529]

Always enjoy your videos, but these Retirement Makeover videos with a live client are the best. Thanks, James!

[@accudave]

Good video. I didn't see any provisions for possible future spending such as replacing a car, a child's wedding, a new furnace, replacing a roof, removing a large dead tree, expensive car repair, grandchildren expenses, non-covered medical expenses or prescriptions, etc. Budget doesn't seem to allow for unplanned life events. I would budget $500 per month just for these things. I could see all of these things happening easily in a 20 yr period. This is $120k over 20 years. Maybe he has better luck than I do, but this is normal life. A never ending series of one-time expenses.

[@ClassicAutoBrkrSvcs]

The comments should tell you that people want to see more normal people like David, not the guys with a couple million worried about retiring. I could live off that interest alone, what are they worried about? Most people can't relate to people like that. I had a lot in common with David. About a year old, and a little more money but well under a million. Retiring here in about 10 weeks. Thanks for the great video.

[@laurah2023]

I love this format! A real life scenario with questions and answers back and forth! I learned a lot!

[@toyarj37]

Philly in the house and he’s not lying about that commute

[@andre-l3j]

Thank you David for sharing your situation with us. Thanks again, James for a helpful retirement session. I'm enjoying the variation of 'guests' on this long form review. Very helpful.

[@amandaturner9903]

This is one of the better videos I've seen lately. Thank you for putting this out there!

[@Clevertechly]

Thanks James! Finally someone who is very close to my situation, with similar questions. Yay East Coast people, the TRI-state traffic nightmare is very real.

[@toddmaniatoddmania9844]

Your best video yet, James! I learn more from videos like this, as opposed to videos on other channels that feature people who are worried that their $25 million portfolio may not be enough for their retirement. I like how David is fiscally responsible and has a pretty solid knowledge of the markets, their fundamentals, and withdrawal strategies. I think he will be just fine in retirement.

[@MatrixMatched]

Thank you, Todd. I wish one of use could learn to accurately predict the future. Then I'd feel even better 😊

[@toddmaniatoddmania9844]

@@MatrixMatchedthen we’d all be rich! That’s boring! Ha ha! 😉

[@dorinatudisco1308]

I absolutely loved this video and hearing the thought process throughout. Thanks to David for sharing his story and best of luck to him in retirement! Hope to see more of these types of videos. 😊

[@MatrixMatched]

Thank you for the kind wishes. I hope the future is bright for all of us! Careful planning and living within my means.

[@LightthroughLeaves]

I was excited to see someone my age and in a similar financial situation. This was one of your most helpful videos. Easy to understand. I learned a couple of things. Think I'd better get a new roof while still working.

[@josephsullivan8654]

First off, great video! To David - I would suggest you look at all your expenses in retirement. You have got to get that number correct. Your $2,000 (bare bones) living expenese seems really low. For me, even with no debt, I would not be able to retire on a bare bones retirement. For me, the purpose of retirment was to do the things I did not have time to do while working. If you were to model it - I would double your expense number. For me - I looked at the expenses every month for a year to see what I was living on. I dont think you will want to sit at home and do nothing. Best wishes on a happy retirement - thanks for sharing your situation with us.

[@jnachtig2]

Good luck in retirement David. I hope the market cooperates and lets you pull SS at 70

[@MatrixMatched]

Thank you so much. It's scary, but I am so excited!

[@Starfish2145]

Expecting people to save $2 million for retirement is absolutely insane. The younger generations can’t even afford their rent or house payment or student loans. Something has to change.

[@michellem8284]

Best video yet! This was eo relatable to my personal situation. Love this!

[@RootFP]

So glad!

[@Cpt_Adama]

@@RootFP Yes, It would be welcome for those of us that can't meet the 2 Million requirement for an account, to have more of these videos. Definitely appreciated and as a lot of viewers have said, best video yet for those of us that don't qualify.

[@cherokee180c0]

Great video, but those numbers look so low to me. I am not sure where you can travel for $1000 (10K over 10 years) with hotels at almost $150/ night in the middle of the country and $300/night in big cities. That doesn’t even include transportation costs to get there, food, yet alone entertainment when you get there. Also with the current inflation we are seeing, eating out has almost doubled in cost in 3 years.

[@OchoVerde]

Good stuff to see how all of this works. Thanks to both of you.

[@ct-io4nm]

I think this is the best financial video I’ve ever seen?? I’m only in my 30s but seeing this play out was so helpful

[@Will-kn9kw]

Well done this was informative. Sipped a Coors light and enjoyed the projections. I hope David can soon stop that long 90 minute commute!

[@Clevertechly]

David, you look fantastic for 61 years old. Those plants are treating you very well! Best of luck in retirement. James is right about filling up that tax bracket with Roth conversions because the tax rates are rolling back in 2025 so they are most likely going to be higher when you hit RMD age.

[@MatrixMatched]

Thank you, Susan, for the advice and the compliment. The hair dye keeps me happy, but I'm not fooling anyone.😊

[@danoberste8146]

Think about Roth Conversions the same as you would sequence of return risks. If you convert pre-tax to tax free, you have to pay tax today (or whatever year you do them) and that money is no longer growing at those compounded gains rates. Those voluntary taxes you pay can be thought of the same way as portfolio loses due to a downturn in the market. Say you pay $1000 in tax instead of investing it, you may be saving 200 basis points in future tax savings, but you may be giving up MUCH more capital gains because that money isn't in your account for decades, early in your retirement. I would think that at rather modest retirement savings, RMDs aren't going to be overly onerous. RMDs can be prudent income sources if they don't force you into several tax brackets higher.

[@Clevertechly]

@@MatrixMatchedlol you’re welcome! 😊

[@MatrixMatched]

@@danoberste8146 Thank you for the suggest thinking, but can you explain it on an elementary level (ie, 200 basis points & giving up capital gains? I'm a scientist, but I don't understand the financial stuff very well.

[@go2gym]

Great discussion. One thought not mentioned, and maybe it was because it's already off the table. Part time income. Every $1 made there is $1 not pulled from investments, and is $1 that can still grow. Something that's not stressful, something you'd enjoy, is close to you, and only few hours a week. Maybe something seasonal so it's not even all year. With expenses low, a small income can make a significant difference. Even something only 8-10 hours a week.

[@MatrixMatched]

Thank you. This is always an option, and I like the way you presented the idea. I will definitely consider.

[@GyanAli]

I commend James for taking his time to do this review. Despite the low retirement assets and way below their $2mill threshold for investment advice he chose to help this guy out. These kids (James and Ari) are going to do well. Breath of fresh air from what I have been seeing lately. Integrity and selflessness over personal gain.

[@ChristopherCurtis]

This is a great followup video relative to my comment on the last one, where I replied to some commenter complaining that an estimated $12,000/mo withdrawal rate was not going to be enough. This is a much more common retirement scenario and it's good to have explained that by making smart choices modest retirees who are diligent with their finances can still do very well in retirement.

[@RootFP]

Thank you

[@Luv2Ski4500]

Why not take social security as soon as you can and invest the money if it isn’t needed? My investments were up 22% last year and 17% so far this year. I realize markets can go down but if markets are doing well it seems you might get a better return on SS if it is invest the money.

[@Luv2Ski4500]

- SS if you invest the money.

[@jillhansen6216]

Thanks David and James for sharing this helpful information!

[@RootFP]

You bet!

[@robins_rodeo]

Thank you for this video! It was very helpful. I'm trying to make this decision myself right now and I appreciate seeing a more realistic retirement example that I can relate to! There are so many examples out there that use the 'retiring married couple with millions of dollars'--which is not applicable for many of us.

[@ToniRae3-16]

Great video, James, and wonderful dialogue with David! David: I hope you can soon spend less hours in your car and more hours doing all that you love! I hope there is a sequel, so we can know how it is going.

[@pickythrifter839]

A follow up in a year or 2 would be a great idea to see how his actual spending compared to his plans plus actual market performance effect on his portfolio & withdrawals.

[@johnbirman5840]

Very good. I retired in March, 2022 with 430k. I was 62 in 2021. I took S.S. at 62 - but as my wife is older she was able to increase her S.S. to get Spousal benefit (1/2 of my full retirement) which added over 700 a month. I avoided the 2022 drawdown in Stocks and Bonds by going short term in first week of Jan, 2022 and went short term T.Bills etc. My budget includes everything: Gas/Food/Long term Insurance/ gifts/ various repairs on vehicles/ electricity/ insurance/ real estate taxes/ charity etc. I didn’t cut anything. I kept about 5% stock fund and kept gold (about 15% portfolio) which was bought 2008 (growing at about 7% a year since then) First year for health insurance I stuck with Cobra - but never paid. That premium built - but since never used - it expired without my paying a dollar. I got Obama insurance which was $200 a month since then. Medicare will kick in this year. I have so far very good health - no medication etc. Ok. I budgeted 16-20k a year for any short fall. I have used about 8-9k. I have more now after 2.5 years later even with a 16k New well dug in Jan 2024. My house and vehicles are paid for. No debt. To really know IF you have enough - you must know where every dollar goes before you retire. EVERY Dollar. That means a week too week, month to month, year to year. Little things like dog food, bird feed over a year really adds up. I don’t count my house, my cars, my Collectibles. Anything - besides actual Cash equivalent as part of my retirement. At present I’m taking nothing out of retirement monies - interest etc is paying everything (even after a 15k New well)

[@joseperez2003]

Good job!

[@camela8445Mar]

Philly to the world...., Honestly this cannot be overemphasized, helping people mitigate unforseen circumstances and mistakes .It's always good to have a financial plan,

[@jtixtlan]

If there wasn’t such severe and widespread age discrimination, it would be great if he could work full-time two more years but close to home. He’s not burned out on working, he’s burned out on driving in traffic.

[@TheQUBANQT]

This was incredibly insightful & the numbers were achievable. It’s always beneficial to have a more realistic scenario.

[@davidpratt5456]

James, i love these deep dives. It provides good examples of when, why and what adjustments can empower us to retire as early as possible.

[@bootsmith8016]

Thank you to David! So interesting and helpful to see real life numbers.

[@gailsammons6050]

So many expenses that aren’t being considered. What about a new car or even a transmission, tires, etc.? Or what about a new washer, dryer, refrigerator? What about pets? New roof, windows, furnace, paint job. I could go on and on. and what vacation costs $1000?

[@SmokinM1]

He has almost 90K in his emergency fund. I agree the vacation amount is ridiculously low.

[@69ztang]

Our roof was replaced the year before retirement, so maybe we'll get another 15/20 years out of it since it's a thicker material. Appliances have lasted over 10 years and generally it's one at a time. Investments have grown at a good enough rate to cover any of this and we'll probably have several years worth of emergency funds to cover anything too. So I'd say it's doable.

[@hermancm]

I’m 62 with just $100,000 saved but I’m saving $3,000 a month pretax and post tax now. What will help me is my house is paid for and it’s in a rural northern Wisconsin area where the taxes on it are under $1000 a year and I heat with free wood and I get my power mostly from solar. I have zero debt and I am drawing a $1000 a month pension now and hope to work till I’m 70 then draw social security at that age, but then I hope to have enough saved to live a comfortable life.

[@Sewmena918]

So helpful to see this type of content.

[@punkbassandcovers]

I use to have a very similar commute here in the DMV. 35 miles took me almost 2 hours each way.. Right before COVID I was made 100% remote. I no longer have the commute, but commute or no commute, the option to retire asap is the goal.

[@SueTNguyen]

You are an amazing an very wise advisor James. My former advisor could not speak to me in layman's terms, so I fired him. This work session shows your compassion toward your clients but allows you to share your technical training. Koodos to you James. I love this!

[@tomcat12az]

Great Video. I want to retire at 60 and no debt. This really helped. I loved it all, but the talk about delaying SS if the market is good was a great discussion that I haven't thought about. Thank you James

[@cablaze1]

Fine, thoughtful, and through discussion James. I enjoyed it.✊

[@RootFP]

Glad to hear it!

[@sct4040]

Yes, you can. Collect SS at age 62, and a bit from your retirement account. Living a simple life is the key.

[@keithwalters318]

Very informative video. Approximately six months ago I started viewing loads of retirement videos… that and after downloading new retirement software, I feel very confident about when I can retire, etc. I’m 58 and considering retiring early and I’m in a position to do that. We shall see . Thanks for the education!

[@mikecif4123]

This was very helpful for my own planning. Cant wait to see what else is on your channel. Subscribed.

[@SheriLynn3867]

Wonderful to see a real person, who happens to be so knowledgeable and "caring" and interesting. Thank you James for introducing us to David and his retirement plan.

[@davidcarino6500]

As my dad always told me as long as you don't have bills, no house payment, no car payment. Like someone told me 1,500-2,000 k per month should not be a problem! ( Keep your life simple )!!! No fancy phone or that Tesla etc.

[@janemcgrath9773]

Great to see how detailed this analysis is.

[@RootFP]

Glad you liked it!

[@MichelleVoegtline]

So sad to see many people mentioning they have a pension of $4000+ per month. Most are likely worked for school, government and military. People who worked for private sector don’t have a pension. Their 401k wouldn’t cover $2000 a month withdrawal for the rest of their lives.

[@fredcarter8382]

GREAT video James! Very applicable to many of us.

[@notyet2345]

I also have ACA for healthcare. My income is low enough that my coverage (a silver plan) is only about 120.00 a month. Thankfully ACA goes by your income and not your net worth because although my income may be a lot less, my net worth continues to increase. My income is low enough to maximize the subsidies but still high enough to enjoy life which does include traveling.

[@Shipwreck8l8]

Great interview, gives a great eprspective and real life scenario. I am only 47 but your videos have really enahnced my knowledge and preparation. 14 more years to go!

[@ChloeBensonBeautyBoxes]

This was the best plan I have ever seen because you used a real person that was there and able to say what we are always thinking.

[@JoeCole12]

I usually zone out after awhile but this really held my attention and made me think of things I hadn’t thought of yet. Thank You!

[@simplerway489]

This is incredibly thorough and informative.

[@markciocco2509]

Great video approach. Real situation with real questions.

[@HappilyFureverAfterFarm]

My husband and I are doing this right now. We’re moving from California and bought a house for 290k in SC and paid cash. We have exactly 500k and praying we can make it on that. We have no family and moving to a tiny town to get away from it all.

[@BarbHurley-s6m]

Love these!! Good luck David!

[@MatrixMatched]

Thank you so much. I wish I had 100x times more assets than I do, but I am so happy that now is the time to begin my next journey!

[@ericcarbaugh8233]

Very helpful video. It's good to see an example of competent retirement planning with a qualified financial planner.

[@islandnard]

I can't fathom the fact that this individual has amassed half a million, paid off their mortgage, and yet some are still claiming that they can't retire.

[@josephj6521]

He’s done very well. Good on him.

[@ryanzimmer382]

bingo

[@GAN-0]

The guy is thrifty -I mean he did that on a relatively low salary(by today’s standards) as well.

[@ManagingFI]

All depends on their spending. Of course they can retire, the question is at what age and with what lifestyle.

[@Mav0585]

Healthcare is a big factor

[@1schneid1]

I’m 61 and retiring in two months, also with just over $500k. I have three years of expenses in high yield savings, which is what I’ll live on to hedge against sequence of returns risk.

[@farooqnasim4914]

It is close but better than my situation. I am 60 and have about 400k in various retirement accounts plus about 60k in bank. However there is still 125k left on mortgage. Maybe 2-3 more years will get me closer to situation discussed here. Thanks for bringing some real common scenarios of middle class.

[@barbarahopkins5845]

Thank you for this example using a modest portfolio/spending! And single!

[@nicsamazingpinballchannel7688]

Another option: If feasible, rent a tiny studio in-town and only commute on long weekends back home. Could perhaps squeeze out another year or two of work with reasonable satisfaction before full retirement.

[@rmccp]

Love it!!! Good luck David!

[@MatrixMatched]

Thank you...let's stay hopeful for the future (and prepared for whatever comes)

[@nutria12247]

Good stuff. Thanks, James.

[@lin-joglobal769]

I am there. I am 61 and so ready to retire.

[@dnhman]

This is very helpful thanks for sharing

[@JimboandGhen]

Good stuff here and right in the financial medium. I like this, thanks James for the vlog.

[@randyraterman3869]

Ill be 57 in a couple weeks with a comparable portfolio as this gentleman now. I plan to work til 62 - 65, it’s nice to see a realistic portfolio and know I’m on track and a little closer. Thanks.

[@WayneSchmitz-u7n]

Lots of hidden expenses that are not addressed. Having health insurance does not mean you do not have medical expenses? He owns a car, no mention of replacement or repairs. He lives in a townhouse. HOA Fees can increase significantly over time. Repairs on appliances or replacement of appliances.

[@julieboehme7241]

MORE normal realistic people like this guy and I will subscribe. I am a single woman, almost 63, with about the same portfolio and my EDJones rep did a scenario where will likely fail if I retire now, and 65 is iffy, but I feel like she's being REALLY conservative. My SS won't be a lot of money, though.

[@pearleelife]

Thanks David

[@dmorga1]

Good for David in saying "I don't like this anymore--can I do something else?" He's frugal and sounds like he'll have a good retirement. Kudos!

[@DanielHBuchmann]

I live in Philly and often drive that 76 commute. I feel David's pain, lol.

[@nulldude782]

I’m retiring in NJ in a few months with and this was a good confirmation of my planning.

[@spectator123-u6f]

An excellent example showing that "the fear of running out of money" is the main tool that financial planners use to keep as much of our money in the accounts we have with them. James, thank you for your perspective. My spouse was trapped in the One More Year Fear, but now they are ready to go at 61.

[@eddiel2911]

Very nice to see. I am in a very similar situation. [60, frugal, just paid off mortgage, $500k in total retirement, plan to retire at 61; I even work in science!]

[@JPGendron]

This was very helpful to me! Thanks

[@arh1234]

Outstanding conversation. Subscribed!

[@jwheeler7890]

Halfway through the video and I'm guessing David had $1M saved for retirement, but got divorced and now he only has $500,000 to retire on. 😞

[@RamzanBarysheva]

hahhaha Lol

[@musiccreation1198]

Seeing those healthcare costs...mind blowing. I'm heading to Europe for retirement.

[@Scott-be1cq]

Great video, Finally a reasonable video on could you retire. Most show something with millions of dollars.

[@tomsparks6099]

I'm almost in the same scenario as David, except I still have a mortgage. I wish I had the capacity to understand this in one sitting.

[@slwleyland]

Keep listening to other episodes and you’ll start to catch on and understand more. That’s what I’m doing and it’s all starting to come together in my mind.

[@SmokinM1]

What do you not understand? His expenses are very low, and thus his portfolio withdrawal percentage is very low.

[@ideasmatter4737]

This is so helpful! As someone with a similar situation, but who wants to travel as I’m physically able, this is reassuring. I need to run my own figures of course.

[@ericdahl2915]

Best of luck to you David

[@lmelior]

Not sure how this one slipped past me, this is a fantastic video! I love seeing real numbers...and you can tell they're real just from the sheer number of accounts at the beginning. 😂Great stuff!

[@kevinm234]

I retired at almost 68 because I truly enjoyed my job and my associates. Now, six years later I am living very well on just Social Security. I spend over $10,000/yr on home improvement projects I do myself as a hobby. This year I installed solar and battery backup to make my home off grid capable and save on utilites. My investments continue to grow and I reinvest my RMDs. I still take vacations, sail, ATV, snowmobile golf and kayak. It is very comforting to know that I can live this well on just social security while my investments continue to grow. I live exactly the life I want without worries and if I end up leaving generational wealth to my kids then that is fine. I hope they do the same with my grandkids.

[@janetkenny4861]

I’m concerned he doesn’t have enough “cash” on hand, and the ability to accumulate more for home repairs, replacement of a vehicle, paying for a good supplemental Medicare coverage plan, once he is no longer working. A new roof alone is going to be $20,000, which could need to happen in a down market year.

[@trseven100]

I had the same question. Replacing a vehicle, even with a used car, is likely 25-30K. Add on other surprises, new roof, new HVAC, broken fridge or washer/dryer; then it seems like he'll be very pressed for cash. In practical terms, it seems like this is just a year too early.

[@Clevertechly]

Agree, and in a townhome sometimes you can’t time those kind of expenditures.

[@shockwave1126]

Looks like he’ll be doing tutoring and the long term projection indicates that he can absorb. He did mention changing portfolio to also help accommodate. I think he can do it especially if having much money isn’t that important to him at time of death.

[@MatrixMatched]

Thank you for the critical eye. Please share any other concerns you may have...now it the time for me to consider everything.

[@mtngrl5859]

He's in a townhouse, so his HOA dues will cover that.

[@MARK-hc5qm]

I’m 59 and I retired with 250k in retirement. No debt no kids no wife. I hope my health is good enough to make 70 but from my family history it is not looking good.

[@FreeBirdUSA]

Enjoy having guest with real examples.

[@RootFP]

Thank you for the feedback

[@laurijohnson7754]

@@RootFPyes. This is more in tune with the average retiree. Most of us will never have over a million in an IRA. My husband and I retired with a similar amount in our IRA except I am on disability so I got my full SS early 1750 a month- and my husband at 65 got about 2800 a month from his SS. Plus a 500 a month pension. We found a good accountant and FP. But it’s nice to see someone average!

[@17napps38]

Looking good for 61

[@EJJ-EvArms]

I can't help but wonder, has he spoken to his employer about possibly shifting to a part-time role for 2-3 years as a transition to retirement? It buys him a little time, gives him less commutes and more time, would be a nice transition to retirement, and potentially helps his employer also. It sounds as if he's a valuable employee who they wouldn't want to lose. This could be a win-win for all involved. I'd be interested to know if this has been considered or is a possibility. One would think he should at least inquire about such arrangement. Of course, thatassumes he'd even be interested in that; he may want to be done, especiallywith his tutoring gig.

[@MatrixMatched]

Thank you! We will have this conversation within the next two weeks.

[@jtixtlan]

Wow! $5K property tax in NJ! I pay $14K per year in NH (but no income tax). The property tax is a big concern in my plan.

[@davidmulligan42]

I did that same commute, and it sucks. I also left the house at 5am, but I was able to leave work around lunchtime and work the rest of the day at home. Even then, it took anywhere from an hour to three hours to get home. The Schuylkill is a mess at the best of times, and always a stressful commute.

[@Delta922]

I retired early so I can stay up late drinking while watching TV so I can wake up whenever I feel like it 🥃🤪😴😊

[@Mostly_bad]

Great video. I had a feeling we don't all need millions to retire. Personally I'd prefer a bigger buffer. Its nice to see the numbers.

[@SharonTwitchell]

I appreciated watching you do the breakdown for David, who’s wanting to retire at 61. I’m also wanting to retire at 61 (end of 2025) and although David has more finances than I do, I’ll be retiring from the government with 33 years, a pension, and a semi-decent 401K. The difference between us is, I’ll have 3.8 years of free medical insurance from my pre-2006 sick leave, which will take me to just shy of turning 65 and being able to receive Medicare. This program is no longer offered so I feel extremely fortunate to have it. My circumstances are basically like David’s - tired of driving long distances to/from work, frugal spender, not a big traveler, live in townhome with low payment/interest rate. Luckily my 2 kids/6 grandkids live close by, so I don’t have to travel far to see them. I guess the other difference is that I’m wanting to try my best to reach 70 before receiving SS. It is so scary to retire at 61, mostly because I feel too young to retire 9 years before reaching 70, but I suppose I can always reevaluate, hopefully at 67 (not sooner). After watching the two of you (David had great questions), I have more hope, and I figure, worst case scenario, I’m still young/mobile enough to get a part-time job closer to home if I need to. The bottom line is, I still need to do a lot more research, and your channel is a huge help in that process, so thank you very much! 💵🤗💵

[@cindaladahling1706]

Great video and format👍