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My Irish wife cooks a mean mean mean lasagna
dick….
Please don't review Marketwatch articles ! We will all be allot better off if we never open Marketwatch ! Don't let MW ruin your future !
Great video. Almost my scenario Josh! Plan on paying my mortgage with my 401k in 2 or 3 years . 58 or 59.
go rent a place in Porto Portugal . . . .low taxes . . .no tax on cryptos . . .good food , . . .nice people . . .
I wonder if they could have gone with partial retirement through age 59.5? Doesn't have to be an all-or-nothing plan.
12:12 concur Korean BBQ, would place that above Italian cuisine
10:39 may as well hit Roth 401(k) contribs, if available.
4:06 Substantially Equal Periodic Payments
1:01 10th Mtn XX zombie survival skillz and remote outpost homesteading training
Retired AF here, these examples are very educational. My job was eliminated this March, turned 59 in April. We have a massed about 1.2 M in deferred accounts and another 500K in Roth IRA. Between no mortgage, Air Force retired pay and a my wife’s current income, we’re planning to do Roth Ladder till I’m 70 to claim SSA. Thanks to your presentations. Love the Army Hat, Keep up the Great Videos. Thanks Josh
Retire at 57. Sell the main house probably more than 250,000 by then. That with their current cash/stocks should last them until 59 1/2.
wish mine was at 1.6 mill:( Gonna retire anyway with lot less as can't keep working into my 60s, life passing me by.
hubby and wife could both do a 72t, take both of their former employer 401k's and roll those into IRA's NOW. that 980k will be close to if not more than 1.4Mil by the time they retire……then when they do retire, roll their current 401k's into separate IRA's and let those grow and still do the 72t with the larger older IRA. even with selling the house, they are more than set. wow these folks are in a great place
An inheritance has allowed us to leave our pre tax accounts alone but over 30 years we had accumulated 1.6 million before we even had the inheritance. We did as part of that original 1.6 have a brokerage account to pull from. Glad we didn't have to even think about touching the 401K or roll over IRAs. We are looking forward to retirement at 55 this year. We didn't have any children and we saved as much as we could during the last 30 yrs, 20 of that together.
Do you recommend paying off mortgage before entering retirement? Or sooner?
Try the Greek food, you'll love it.
Stretch out a tape measure. Stand on the number your age is. Look behind you. Now look foreword. Men live to 75 on average. If your 55 with 1.6 million your money will out last you. You could have retired at 45. Wake up people
He probably means it’s an all or nothing rollover. 70/80k is the magic number for happy retirees so it’s a good figure to aim for, especially if you’re under 60.
La-gag-knee
If I had 1.6 mil in my 403 I would retire at 59.5 and not look back.
I started taking mine at 59.5 – retired at 58. So far, it has grown higher even with withdrawls. It is way too costly to pay tax plus 10% penalty…that is a quick drain. The short answer is NO, one way or another, you will pay tax…anyone remember the '30 Year Tax Deferral' that the traditional IRA gave us…that was an enormous benefit, and time to pay it back now…or my heirs will haha. There are other tax strategies and maximize social security payment strategies – like marry a younger woman with children…like I did.
I found corporations that make us withdraw all the 401k with rule of 55, these crappy old companies own you until you are 59.5
The 72t rules are basically based on your life time much like an SPIA but for only 5 years. Now try and get the IRA costodian to to use the 72t rule. I know for a fact Fidelity will not do it because I tried last year for my wife.
Then not ten
If he took all money out of 401k and pd taxes on it ten could he put it all in a roth?
I am retiring early ("61") in one week (Thanks to Josh's retirement course).
You make me know I can retire and be better then just getting by. Thanks
Sushi? 12:23
This video also shows how BS there is just to retire at your own choice / time.
This video explains that there is TOO much government in our lives.
Use a Roth Ladder if you are younger than 54 1/2 or have principle in ROTH!