HOW MUCH Retirement INCOME can you generate with $500,000? 💵

How much retirement income can you generate with a $500,000 nest egg? Smaller nest eggs usually mean less room for error. For some people, this may not be enough money to retire on. But for some, especially if you have social security, a pension, a side gig, or other forms of income, it might be. Depending on how you invest the $500,000, it can be enough. We need to look at withdrawal rates. Is 4% the right number? What's important is that you don't run out of money in retirement. If you want to plan for early retirement, this video is for you!
**I am NOT a financial planner! This is just the story of my personal financial planning for retirement. You should do your own research and talk with your financial planner before investing.
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#500k #portfolio #financialplanning #sidehustle #retireearly #debt #market #stocks #marketcrash #retirementincome #financialfreedom #investing #retirementsavings #retirementplanning

[murrayhaven]

I am forever grateful my dad kept telling me to never quit my state job. Because of that, I retired at 62 thanks, in part, to having a pension.

[karimot]

I just found your channel, and I love love that you use real numbers. So informative.

[shiquita]

Love the visuals you use to make sense of it all. Thank you for your care and thoughtfulness to deliver such important information. 🙏🏽 ❤

[Jonesmatsunaga]

I’ve read that the old rule of thumb was to withdraw 4% annually, which would give you about $20, 000 a year. But with today’s market conditions, I’m not sure that’s still the best approach.

[msvice]

Thanks for the video & your transparency. I love your teaching style. You break down the topics into easy to digest pieces with good examples that are understandable.

[CharlesAnsman]

Your channel is always full of great advice. should be at 100k + subs
I recommend your channel to the young/middle age people

[sailfishski]

I plan to draw 7% every year, Market up and down around 7% average, people need to spend money in retirement not save or earn more! Most people commenting will make money in there retirement account and all regret not to spend more when they where able!

[John-nxhx]

Good basic info! Here in Canada many people have there money in RRSP's [Registered Retirement Savings Plans] as their nest egg, this is converted to a RIF [Retirement Income Fund] at or in retirement. Once the RIF conversion is established there is a mandatory minimum yearly withdrawal, % of RIF. At 60 it is 3.33%, 65 is 4%, 70 is 5%, the percentage grows with each passing year.

[transitengineer]

This was my first video of yours and, I was very impressed by your graphics (smile...smile).

[ROGERKWINE]

Appreciate the spreadsheet…that’s a good resource

[davidterrybyrd]

I wish to thank you on all of the information you are giving. If you have time this summer, please think about writing a book. Thx.

[bunnobear]

Love your videos, we lost our pension at 40 as forced to change to an accumulation fund but we still have a healthy balance. I love your videos on how to spend it, I don’t want to be too conservative as I can have a scarcity mindset. We were lucky to start saving for retirement at 18. I am now off to watch your bucket video :)

[peacockcali]

Thank you for a great Channel! Keep up with the great work

[CharlesAnsman]

Don't worry too much about side gig's, they will come and go, mostly enjoy you retirement as its finite, money won't buy you happiness

[MountainGoat]

retire early in SE Asia with small nest eggs and live like a King/Queen.

[sallyprzybil]

When you’re only pulling that small amount from your Nest Egg accounts you might find that your income is low enough to not be paying very much, or anything at all, in taxes. But plan for the taxes anyway, and be happy if the taxes are less than what you planned for. I retired with a much smaller nest egg than you, but I am getting Social Security and a small Widows pension so I’ve still let my nest egg grow a bit.

[havenpersonalcare]

I have zero saved for retirement @ 45; but retired from the military with $6K pension and $2.5K passive income from rental properties. Otherwise, very informative video! Keep it up.

[ibenglish]

My personal goal post retirement will be to hold off on spending any of the 401k balance after conversions to allow more growth. This is where the bucket strategy comes into play. I came from nothing and grew up with very little. If I can do it then so can you! Believe in yourself because it does get easier over time. 👍🏻

[FIRE_DrNinjaTurtle]

I love your videos. Please consider doing a live to answer viewer questions 😀

[MinnesotaCabin]

Thank you for your videos! Great encouragement and information for those of us stretching every dollar. We are within 5 years of retirement and looking forward to setting our own schedule.