How Much Do I Need to Retire? 5 Numbers to Help You Decide.

✅ *SCHEDULE A FREE RETIREMENT ASSESSMENT* ✅

Can you afford to retire? Will I have enough retirement income?

In this video, I unveil the essential 5-numbers you need to confidently plan your golden years.

From understanding your retirement expenses to calculating the potential shortfall, discover the simple yet crucial ingredients to retire without financial worries.

--------------------------------------------------------------------------------------------------------------------------------
*ABOUT ME*

I’ve always been passionate about personal finance, investing, real estate, and helping people find the freedom to live their life with purpose. But when my dad died in 2015, I tried to help my Mom find an advisor to sort out her finances. Instead of a helping hand, I found an industry of financial advisors dominated by glorified salespeople working on commission — pushing products that were not in my mother’s best interest. Or advisors with minimums that shut-out all but the ultra wealthy. Disappointed with the options, I took matters into my own hands and launched Foundry Financial, a wealth management firm with transparent pricing that specializes in helping provide clarity around money — so you have the confidence to make smart decisions.My goal is to help a million people retire without worry!

📅 *THE BASICS OF RETIREMENT PLANNING*

Retirement planning has several steps, with the end goal of having enough money to quit working and do whatever you want. Our goal is to help people master retirement and retire without worry.

Step 1: Know when to start retirement planning. When should you start retirement planning? The earlier you start planning, the more time your money has to grow. That said, it’s never too late to start retirement planning. Even if you haven’t so much as considered retirement, don’t feel like your ship has sailed. Every dollar you can save now will be much appreciated later. Strategically investing could mean you won't be playing catch-up for long.

Step 2: Figure out how much money you need to retire, The amount of money you need to retire is a function of your current income and expenses, and how you think those expenses will change in retirement.

Step 3: Prioritize your financial goals. Retirement is probably not your only savings goal. Lots of people have financial goals they feel are more pressing, such as paying down credit card or student loan debt or building up an emergency fund.Generally, you should aim to save for retirement at the same time you're building your emergency fund — especially if you have an employer retirement plan that matches any portion of your contributions.

Step 4: Choose the best retirement plan for youA cornerstone of retirement planning is determining not only how much to save, but also asset allocation. It can make a massive difference in your retirement plan.

Step 5: Select your retirement investments. Retirement accounts provide access to a range of investments, including stocks, bonds and mutual funds. Determining the right mix of investments depends on how long you have until you need the money and how comfortable you are with risk. It’s often helpful to talk with an adviser to discover the right mix of stocks and bonds.

❣ *SPONSORED* No, this video was not sponsored.

⚠️ "DISCLAIMER:⚠️This is not financial or investment advice. This Channel is meant for EDUCATIONAL AND ENTERTAINMENT PURPOSE only. None of this is meant to be construed as investment advice, it's for entertainment purposes only. #retirementplanning #retirement #passiveincome

[dbulsa]

I retired at 54. Very happy to do what I want. Life is short.

[teams]

When people asked me what are you going to do in retirement. I have always said ANYTHING I want. Still works seven years later.

[dazmurph]

Different for is precious and the more you have the richer you are.

[xlerb]

"I can't work another day" That was pretty much the shape I was in a couple months ago. I wasn't quite that fed up, but the job had lost it's luster. I've been in software development for ~30 years but it's changing fast and it's not the career it has been. I called up the broker and the CPA, figured out we were in a good shape to retire - and I'm calling it a career in a month. Can't say I'll miss it. But there are people I'll miss.

[brucefredrickson]

I retired at 63 with no debt...including mortgage. This is one of the keys to retirement security because it gives you a sense of peace that is hard to describe. As a military retiree, that gives me a comfortable cushion and I don't plan to take SS until age 70 to protect my spouse should I die first. The formula is simple...spend less that you make (blinding flash of the obvious).

[GIUL]

The main one retie dept free.
We own our home outrite.
Our bare bone expenses are between 35 to 40° of our fixed income. But I still run my construction business.
I love doing it. It also forces my brain and body to exercise.

[d.c.]

One thing that rarely gets in these types of videos is that we may need to work a little bit longer than we thought at our regular job or, when we retire from that job, work part-time or a small gig or two each week to supplement. Or maybe move somewhere less expensive.

[marigold]

This is one of the best "planning for retirement" videos I've seen. Noone can give you the recipe for what works for you, but this provides a sensible way to think about it!

[Rado]

Got a call from our financial advisor 4 months ago, asked me "If you could retire early, when would you?". Thanks to the economy, I was able to retire at 62, 3 years earlier than planned.

[dovoso]

Well, when talking about retirement plans, I never seen anyone mentioning the costs of Nursing homes. Those places are Expensive.

[WorldWideCynthia]

I like Ally as a high rate savings account.
Correcton on your part - most people don’t get a pension, but - I have a NY State Pension, am working on a Federal pension and I spent 20 yrs on the National Guard so I have a military pension as well 😊

[mss]

It happened to me. It was not worth the paycheck for me to go back to that job every day (I was miserable), and I didn't want to start over at 54.
Fortunately, I was able to make it work vis-à-vis these 5 numbers.
PS - Don't forget about healthcare $$ if you're pre-Medicare.

[danielhall]

I really appreciate the clarity you bring finances. I just recently became aware that I might be better off more heavily invested in a brokerage. I feel I’m late in life to achieving financial success, late 30s, and I’ve been investing for the past two years. After finding your content I finally feel like I’m beginning to understand how to use the different financial vehicles. My plan is growth and dividend growth in a brokerage and Roth account. I’ve put away a good amount in a 401k and want to pivot to allow access to funds in a brokerage. I’ll be looking for a good time to roll my 401k into my Roth to avoid paying so much taxes from earned income overall. I might try to get a match in my 401k but it’s no guarantee so I’ll be looking to increase my income even if that means switching departments or finding new employment. I plan to max my Roth and HSA accounts maybe put some in a 401k for a match but otherwise keep the rest in a brokerage and savings.

[mommacoolio]

Going to be 67 this year. I don’t even see retirement as an option

[danielmelendez]

Thanks. 5 Steps to follow, ease and clear. Blessings.

[kenhart]

Love your videos, informative and about the right length, and your voice/delivery is perfect. I've also found many "financial advisors" to really just be salespeople. Still learning here but I can see through the sales talk. Thanks for your offer, that is very generous. Everyones situation is unique, I do think a personalized assessment is of benefit to future retirees and is probably a high returning investment on the fee charged.

[kimcasey]

Just found you here. I am enjoying your videos. I filled out your questionnaire. 😊

[HMC-pp]

You could always, do the math and draw down on your accounts, based on what your expected life expectancy would be. Why people worry about living off what they have saved their entire life and never tapping into that equity is foolish. You cannot spend it when you are gone. I’m not advocating spending everything in 5 years after retirement. But you can draw down on your investment without going broke.

[richardc]

If I leave work at 60 the Social Security tool does not calculate from the day you leave work before eligibility at 62 - 70. The tool assumes you are working until 62 - 70. This makes getting a real number possible. I had to call social security and they didn't seem to understand my question the lady kept giving me numbers that assume I'm working up til 68. I had to explain multiple times I'm leaving work at age 60. She finally understood, said she would have to call back and never did

[sherriegray]

This is an awesome video. Kevin you made this clear and easy to understand. Im going to do my homework and come up with my retirement date and income amount .Thanks for making this video.😊