It’s a question more and more people are asking, especially as the workplace continues to change following the pandemic. But are you in a position to step away from a consistent paycheck at age 55? Phil will provide a great look at the reality of early retirement in today’s environment and apply some real-world examples to the discussion.
Watch the video podcast: https://youtu.be/cuahFzcAFlw
Key points:
1:09 – Background on this topic
3:20 – How many clients want this?
4:05 – Immediate challenges
5:14 – Retiring at 65
7:48 – Retirement lifestyle
9:06 – Running the math
11:38 – Challenges in this environment
13:18 – Mailbag question on retiring early
15:08 – Mailbag question with another scenario
16:36 – Bear market coming?
17:46 – Conversation with your advisor
19:43 – Mailbag question about paying house off
Read more and get additional financial resources here: http://philstaxhacks.com
Ep 174: Lessons Learned from the Silicon Valley Bank Collapse
Ep 173: The Incomplete Financial Plan
Ep 172: Top 10 Tax Questions for Retirees in 2023
Ep 171: 5 Beneficiary Mistakes - Are You Accidentally Spoiling Your Retirement Plan?
Ep 170: 2023 Retirement Preparedness Checklist (#6-10)
Ep 169: 2023 Retirement Preparedness Checklist (#1-5)
Ep 168: Back to Basics - Income Planning
Ep 167: SECURE Act 2.0 – Retirement Changes to Know (Part 2)
Ep 166: SECURE Act 2.0 - RMD & Roth Changes (Part 1)
Ep 165: Top 401(k) Mistakes to Avoid
Ep 164: Dividend-Only Retirement Plans
Ep 163: The Market Outlook for 2023
Ep 162: Will it Take a Miracle to Retire?
Ep 161: Making Smart Decisions During Major Life Events
Ep 160: Should You Follow the 60-40 Rule?
Ep 159: Is the Grass Really Greener on the Other Side?
Ep 158: The Retirement Marathon: Finishing the Race
Ep 157: Common Questions About Taxes in Retirement
Ep 156: What You Need to Know About Forced Retirement
Ep 155: Are Health Savings Accounts ‘Super Roths’?
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