You CAN Retire Early - Let me show you how

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00:00 Why
04:54 Retire Early - But at what cost?
05:28 Ian’s Financial Situation
06:23 Lifeline Model
08:23 Backtest
09:10 Results - Maximum Sustainable Expenditure
12:06 Other Solutions

[CoretteLécuyer]

It's been six years since I retired. I'm thinking about distributing my $150, 000 in exhausted 401(k) funds and my $130, 000 annuity into a 60/40 stock and bond ratio. I hope this is a sound way of thinking.

[Roymysterio]

57 here, 11 months of investing. $47k saved, debts cleared, and a portfolio just shy of seventy thousand dollars. Taking investing into consideration last year was worth it in retrospect. I see a good retirement on the horizon.

[dan_delaney]

With my health taking a dramatic downturn in the last few years, retiring early has gone from being something I’ve never been interested in to an obsession with finding a way to make it happen with a good chance of success. Videos like this are incredibly helpful.

[maddog]

Another excellent video. Retired at 59 and I went for the part time option not that I needed it as pensions and savings covered most living expenses, but part time work gave ‘pocket’ money to pay for holidays and other luxuries. But the main reason for retirement was the stress & hours and the part time work I do has nothing to do with what I did before it’s relaxing and I enjoy going to work.

[theshinyrocket]

Ian's situation is luxury. Many, many people have end of life situations in their 40s, 50, 60s and often earlier. Giving up a rubbish job and enjoying the simple things in life is essential. Time with your loved ones, your pets, your dog, doing the free things like walking the country, and hobbies. I see so many work all hours then fall seriously ill.
I've took the chance, I stopped working at 54 and 4months. I've stopped spending, cut all unnecessary costs, I spend £500 a month. My savings will last years, without calling on pensions. Having a life and enjoying the important things is critical. Working and dieing is worthless.

[SomeoneSmarter]

I really like that schematic of counting how many summers are left in your life. Quite sobering really.

[andygreenfield]

I retired two weeks ago at sixty two. Kept putting off retirement date to try and get in a better position thinking that I needed to but the point being made in this video about how many good years have you got while you can spend and enjoy the rewards of your hard work should make everyone think. Nobody puts on their gravestone I wish I spent more time in the office.

[JessicaBennett]

I’m looking to invest half of my savings but unsure what to do. I’m 49, and retirement is becoming a concern for me. How do I go about this, please?

[demos]

Retired five years ago (state pension in 10 years time), i chose to accept a lower quality of life to do so... normal sleep was worth it but that's just me. 🙃

[JamesShack]

These days, "Retirement" is not necessarily about the absence of "work". It's the point in your life where you decide you've traded enough of your time for money (and your family!). And you now want to prioritise your TIME and getting the most fulfilment out of what you have left.

[percygoals]

I plan to retire at the end of 2025 at 62 after 36 years in Telecom as a sales engineer. My wife will retire in May 2026 and she's loving life! But walking away from a good income stream and building the nest egg to living from the nest egg is a scary proposition couple with the alarming recession and CPI report

[Derrick-ts]

I want to max out my retirement contributions and I also have another $200k in a savings account that i want to invest in a non-retirement account. Where should I invest it now?

[LookatBowen]

I was made redundant last year November, and it's been brutal not working after 35 years of non-stop graft, and now not being able to find a job in the same sector, that has been the worst part, but it got me thinking "why not retire?". Sell the house, since we have a mortgage until we are 70, that seems crazy when I look at it now. We only got this place because it was in a nice location, easy to get to work, but then Covid kept us at home indefinitely. Hence why I am thinking we should sell the house, downsize & move somewhere cheaper, buy a place cash, mortgage free, and we can retire. We all have one life, and there is no point waiting until we are 60 or 65 to start enjoying it. Health can turn very quickly, as I have discovered, the stress of not working or trying to find a new job has had a massive health impact. It is not worth putting life off. Thanks for a great video James. (p.s. one of the fanatical people who have mastered our expenses for the past 25 years, and have been cutting costs whenever we can). Knowing your monthly budget, and where money is spent or saved makes this task a lot easier.

[robynrox]

As a software engineer aged 51 with an uncertain future (AI) and out of work at present but having saved a shed load, this really speaks to me. Even if I'm "forced" into retirement, it looks like my wife and I will be okay. This has been good to understand! Thank you.

[andycorbett]

Yes James! I am one of your existing clients, and going part-time later this year, just before I hit 60, is one option I’m considering. I was due to finish my contract at end of July, and the plan was to retire, but the figures don’t quite add up - but, my company is likely to keep me on “indefinitely” after July and I will be requesting that this is on a part-time basis. If this works out then it will be testing the water as a semi-retired gentleman! So this video is very timely for me, alongside the advice of your team of course!

[jonathanhowson]

Hi James. At 37 I have just taken a 6 month mini retirement. I havw just left my corporate job in Manchester and moved back to the Lake District where I grew up. I havw finally submitted for professional qualifications which I never got round to doing while working and being assessed for ADHD. I am also understanding fuether training for new qualifications to further expand my skillset before setting up my own business as a building surveyor. I am also helping family on several building projects, which the manual work massively helping with the burnout I suffered several times over the past couple of years. Living frugally over the past 5 years has allowed me to do this. Im so excited for the future. With my parter we have discussed that if we are blessed to have a child together then it would make sense for us both to take time off to care for them in the first year, so another mini retirement and I also plan to take a year or two out or at least work on the business part time so I can commit to building a dream family home for us. The traditional 9-5 5 days a week until 65 years old is not for me.

[TeddyCliff]

I’ll believe it when I see it. I’m lucky I prioritized protecting my savings early. Retirees are struggling, and policymakers aren’t addressing how unstable pensions are during crashes. Seniors need real solutions, not empty promises.

[oliviaHill-we]

My original retirement plan was to retire at 67, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.

[AlpayWester]

Are there specific financial products that can safeguard my $1.6 million retirement fund?

[BlokeWithABoat-uhnf]

Another thought provoking video James with your usual in depth examples and explanation. I have been following you for about a year now while educating myself on finance investing and learning about what to do with my several DC pensions. I think you are the best planner on UTube with Meaningful money a close second. Its a pity you don't put out more videos. I retired this year at 65 and have a small DB pension which is so much easier to deal with than the DC ones I have yet to sort. I also follow a couple of Utubers who retired in their 50s and are living their lives to the full as they are fit and healthy. I hadn't even considered doing that. One of them recommended the book " Die with Zero" which I am reading which is very appropriate with this video about valuing your life energy and memory experiences over more money than you need for your retirement and when to stop working as you have enough money in your pot. Keep the videos coming.