143 - How Much Do I Need to Retire?
Episode description
Scott and James discuss how much you need to retire.
Listener Question
I'm 55 years old and currently employed with $1.1 million in 401k, $150,000.00 in annuity fund. Upon retiring I will also have a pension with medical, dental & optical coverage. My yearly income is $120,000 & I’m looking to retire at 60 years old. In your opinions does retiring comfortably in 5 years look reasonable?
Planning Points Discussed
- Retirement Planning
- Utilizing Time Efficiently
- Capital Appreciation
- Purchasing Power
- Other issues (IRAs, Inflation, Financial Goals, etc.)
Timestamps:
3:29 - Listener Info
6:06 - Living Expenses Today
8:37 - Retirement Expenses
11:20 - Social Security
13:30 - Financial Freedom
16:05 - Tax Planning Opportunities
18:17 - Withdrawal Rates
LET'S CONNECT!
James
Scott
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