I Found The World's Easiest Retirement Plan - Get Yours in Under 10 Minutes

The world's easiest retirement plan can work whether you have $10 million saved or $100,000 saved. And the 2nd step gives you that important number of "How much do you need to retire?".
-Dave Zoller, CFP®

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[johngrubb]

I have always had a very detailed budget throughout my working years. A few years ago I started my retirement budget. I have also created an income spreadsheet so I know how much I am receiving from each source of income for each year of retirement. I am lucky I will have three pensions, SSAN, VA and my 401K. I can then analyze the difference between my future retirement income against my retirement budget. My retirement budget is about $60k a year and I am projecting about $150K a year in retirement which is significantly less than I am making. I just don't want to worry about money during retirement.

[seetheforestthroughthetrees]

This is a great simplified plan to get you started. That is exactly what this is supposed to be. Especially for people in their 30s, 40s, and early 50s. BUT... taxes, taxes, taxes. Taxes could be one of, if not the largest expense in retirement. If you took deductions all through your working life, you may be in for a surprise, especially when you reach age 72 and RMDs start. As a CERTIFIED FINANCIAL PLANNER™Professional I often point out to clients that where your assets are, (also called asset location) is extremely important to consider. Are they in a traditional IRA/401k that is fully taxable, Roth IRA/401k that is not taxable, HSA (not taxable), or a non-retirement account will have a big impact. Remember the 4% withdrawal rate includes assumed taxes. Plan now to create a tax-free retirement income. Great Video!

[dancasey]

I originally estimated $65k a year, though inflation might change this some. However, our Social Security at about 67 is about $70k, close to $90k if we wait until 70. Being debt free with no mortgage, car payments, or credit card debt sure helps.

[walterbazarewski]

Thank you for sharing this simple plan. Finally someone gives a non complicated view of what you might need.😊

[Marquez]

Thanks for your great video... My wife and I are retiring this year, did very well in the amount of money that we amassed for retirement. Well over 80% of that money was made because 0f taking advantage of buying high-end stocks at a deep discount during the Great Recession.up until 3 years ago we were 100% in the S&P. During bear markets we had a perfect plan. We got an lnvestment manager in our corner and didn’t look at our portfoli0 for nearly a year. Just kept buying at low prices..

[kichfav]

Thanks Dave for sharing very simple calculator for anyone to get started to get an idea and take it from there.

[sydneyelmore]

Keep in mind some of your income can come from dividends. So SS plus dividends, pension if any, can reduce how much you withdraw every year or month

[cato]

Good video. It really is that simple. So many people fear this process. I don’t know why.

[lawrencedavid]

It’s not how much you have…. It’s what you owe……. Don’t get me wrong by any means, yes a nice fat nest egg is everyone’s goal, being 100% Debt free has given us the opportunity to grow our Egg ….. absolutely enjoy your videos. So easy and enjoyable to watch and learn….. thank you……. Enjoy the day…..

[susanrushin]

Good video, but would be better if you shared whether or not the income needs estimates were before or after tax.

[vinylEarthlink]

As a retiree, I like taking less than 1% a year from my assets. You want to have a margin of safety, so you don't have to worry about running out of money. In an ideal scenario, your assets will continue to grow throughout your retirement.

[terryludzenski]

Thank you so much for your videos and information. Very informative and helpful

[fremont-desi]

How about doing a Video on "All weather portfolio" that limits the downside & maybe not as aggressive as Tech Heavy S&P 500 which was up 15+ % past 2 years but giving decent returns YOY?

[adam]

I’m not the CFP but aren’t you under selling how much tax you will have to pay from your social security if you are withdrawing that much? Only simple way around that would be if your assets were in Roth accounts.

[bobackerman]

At least for me, this plan is too simple to be of any value ...

[Chicago]

Who has $100K? Not your average American. This isn't for me.