Retire With $6,000/month in Retirement Income || How Much Do I Need Saved?

[@rhondavigil795]

We are early retirees. Your videos reinforce our retirement strategies. We are using a few buckets to stage our money for our go-go, slow-go and no-go stages.

[@yourfinancialekg]

Awesome!

[@Hawkeye2001]

$6,000 per month or $72,000 per year already sounds well above the average income of most Americans.

[@kenmelottejr6379]

I agree, my costs are projected to be $32K at a high in 2025 then add 3% for inflation.

[@yourfinancialekg]

It is! I was hoping someone could use the math for any amount they needed

[@RetNavyChiefBTC]

True statement. However in some parts of America, this income will have you living in a refrigerator box. Unless of course, you’re an illegal immigrant!

[@growsinhouseherbiculturali1100]

Who wants to be average?

[@punisher6659]

Hello from St.Louis. Thanks as always for your content.

[@yourfinancialekg]

Thanks for watching!

[@rayanderson3164]

Suddenly, everything looks like a go for next year. Thanks Drew. I struggle with the idea of taking 5K a month out, but your numbers don't lie. If I was ANYWHERE near Florida, I would be knocking on your door to help manage my retirement. Do you handle people in Illinois? Those of you nearby are damn lucky! Thanks again Drew.

[@yourfinancialekg]

Hey Ray! Excited for you. Yes, we have many clients in Illinois and would be happy to have a conversation. Email me at [e-mail] and we can set something up.

[@BamaGuyInWashington]

Is my 2k in military pension and 4k in disabilty a month good enough for me to retire on or do I need a retirement account as well?

[@yourfinancialekg]

Depends on your individual situation. Thank you for your service 🇺🇸

[@BamaGuyInWashington]

@@yourfinancialekgYou're welcome. I'd gladly do it again. It's just my wife and I. No kids, no mortgage payment, and no credit card debt.

[@NipItInTheBud100]

40 yrs would be a better representation of retiring early! 30 yrs retirement isn’t retiring early!

[@yourfinancialekg]

True! I'll get to work

[@NipItInTheBud100]

@@yourfinancialekg Thanks for all your great videos!!

[@crimsonpearl4686]

I turn 62 in August and would need $4250 monthly, with already right at 1 million saved in retirement. Assuming a 5% return, would my assets last to 92 or so if I retire at 62? My SS at 62 is showing at $2044 a month. So I just I would need just around $2200 a month from retirement savings? Am I figured this correct? Of course, this is before taxes and inflation, I guess?

[@yourfinancialekg]

Are you calculating in taxes?

[@crimsonpearl4686]

@@yourfinancialekgNo, that is what I was wondering about.

[@Lessons114]

What about for a 40 year retirement?

[@NipItInTheBud100]

Agreed! 40 yrs would be a better representation of retiring early! 30 yrs retirement isn’t retiring early!

[@yourfinancialekg]

Working on it!

[@bobackerman54]

I am very conservative but your numbers of needing 1.0-1.3 million dollars is VERY DISCOURAGING ... at age 61 and LESS THAN $600k in savings it would likely take another ten years to retire which is VERY DEPRESSING ... that will give me VERY FEW good years (if any) in retirement ... i am VERY DEPRESSED ... and what saddens me even more than my plight, is that i am in a better situation than more than half of the population ... Heaven help us !

[@Blublod]

And it’s only going to get worse if people keep voting Democrat!

[@yourfinancialekg]

Check out some other videos Bob, you are ok!

[@Stocks1986]

Maximizing SS is critical. Using savings, PT work, etc to delay SS to 70 to create lifetime guaranteed inflation protected income. If married the lower earner can take earlier to help the higher earner delay.

[@Blublod]

@@Stocks1986 - Yes, and then you die at 71 😂 Thanks but no thanks!

[@JacobBailey-k2k]

@@Blublodquick note: Dow jones hit highest point ever this last week with Dems in office.

[@em8489]

Can you please write the formula?

[@teddyruxpin7876]

cant you seem to find different content?

[@yourfinancialekg]

Isn't this what my channel is about?!?

[@Ann-pt2je]

4%rule it would be 1.8M， is that enough?

[@yourfinancialekg]

I would say so!

[@EdA-bz3bu]

This does not plan for down market.

[@Geo6783]

Literally says that the first minute of the video

[@yourfinancialekg]

Correct! That is why we want a more detailed plan. This is just an overview.