Can I Retire at 67 with $380,000 in Retirement Investments & Savings? 📈 Retirement Income Strategy

Can I Retire at 67 with $380,000 in Retirement Investments & Savings? 📈 Retirement Income Strategy

In this retirement income strategy video, I want to look at a 67 year old single female who is asking the question, "How long will my retirement savings last?" She is already collecting her social security benefits and a large monthly retirement pension from her old employer. I also want to examine inflation and how inflation does not impact all retirement income spending.

Retirement income strategies and retirement income planning are two big pieces to anyones retirement planning calculator. Whether you are wanting to know strategies for "retirement planning at 30", "retirement planning at 40", "retirement planning at 50", or even "retirement planning at 60" understanding how much retirement income that you want versus how much you need gives you a roadmap to follow to and through retirement.

Here at Pearl Wealth Group, we run a trademarked retirement investment and retirement income plan for individuals and families who are wanting to retire called "Your Financial EKG™." What we are trying to visualize is how long a persons retirement savings are going to last throughout retirement. If you are looking for early retirement planning tips or trying to saving for retirement in your 50's, You Financial EKG™ is a great tool to help you understand where you are retirement planning. Retirement planning and retirement income strategies shouldn't be complicated. They should just be done right.

**Free Retirement Download: The Roadmap to Retirement:**

**Please make sure you talk with your CPA, Financial Advisor, Retirement Planner, or Investment Advisor Representative, before implementing any content from this channel. All videos are for informational and educational purposes only. None of the content, comments, responses, information, or any other item on this channel constitutes financial advice or recommendations. Please call Pearl Wealth Group at 813-807-5060 to go through your Retirement Income, Retirement Investments, or Retirement Plan in more detail.**

Pearl Wealth Group
Drew Blackston, CRC® & RFC®
Office: 813-807-5060

Getting you to Retirement, through Retirement, & protecting YOUR ability to stay in Retirement!

#retirementplanning #retirement #financialfreedom

[yourfinancialekg]

*Free Retirement Download: The Roadmap to Retirement:*

[davidreus]

I wasn't financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly basis via my investment and a 401k retirement plan and got 5 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made. Great video! Thanks for sharing!
Very inspiring! I love this

[pluevo]

You are so down to earth for the average person who doesn't have sophisticated financial expertise

[buyystocks]

I retired debt free at 59 with $224, 00

[fascination]

@ 8:13 Refinancing a mortgage for 30 years at age 67 is nuts, especially when she's got a negative monthly income of almost $2k a month. What kind of bank will finance that? Am I missing something here? What happens when the furnace breaks, the roof leaks, her car dies, and she has a serious medical event all with a few months.

[timst]

Maybe I’m not in too bad of shape. I’m 56 with $450, 000 in Ira/401k. The big news is I am debt free. Cars and house are paid for and I have no credit card debt. She will have a house payment the rest of her life.

[danielroos]

How important is net worth compared to retirement savings at age 67. I have about in retirement savings but my net worth is closer to Should that be taken into account when deciding when I can retire?

[randymillhouse]

Nice video to confuse an old guy, married (thank you God!). I just turned 59. This morning's "COUNT" was $342K: IRA's, 401k's, CD, Annuity, savings of $14K. Both of us are still working. Plan to retire at 62 to a wonderful South American country where my wife is from. We plan on needing $3, 500 monthly (which would be living VERY WELL). That includes rent, living expenses, and travel. We have saved / grown (DON'T know how that worked) $123K from 2/2023 to 2/2024. Hopefully can keep that up for 3 more years. Not sure how any of this factors into our future.
NO! This is not a "NAME DROP" financial advisor spam posting.

[yoelwasserman]

Even taking benefits at 62, how is her Social Security so low while her pension is so high?

[chuckles]

While on the outside it looks like i'm doing "ok, " I am very stressed about the possibility of long term care as my father had alzheimer's. Memory Care facilities are 6500 monthly plus in my state! I am 68, have 3600 net income monthly, 250k in a traditional IRA and 265k in a Roth, plus no debt and my car and house fully paid for. I have a money market with about $40k in it that is invested in some federal fund or other through Vanguard. I have a daughter who is mentally ill (34 years old), and it is on me to see that she is as cared for as I am able to provide. Yikes!

[grcerosa]

Yep.. the scenario for Karen … Drew will fit for me and beyond 92 since I’ll have less expensive than Karen and far more money in my retirement.
Can’t wait for our meeting in December
😊

[robertbass]

The main probable with this calculation would be poor earnings at the 67 or 68.That would change the results tremendously!

[CA]

This didn’t go anywhere that I thought it would. The woman has 2 streams of income totaling about 3k that will never run out. So right out of the gate she is better off than most.
If the 380k was in a coffee can out back and she siphoned a grand a month off it would last another 32 yrs.
So why are we even looking at this situation. If the 380 was her only money yes this would be a meaningful exercise.

[edwardpate]

Wow that SSA amount sure seems low for someone who is 67.

[johnb]

not bad Drew, like the different way of thinking 🙂 good job

[JoeGiz]

Drew you should be at 1m subs by now! Great video!

[TheRealEdStoner]

I’m surprised she got a 30 year mortgage at 67. And would like to know why her house wasn’t totally paid off by 67.

[Retired-jrqs]

As a 59 year old retiree this video is very helpful. Thanks Drew.

[terryB]

This information was really informative. My concern is my investments are at fixed rate of 3% I can't afford to risk loosing my balance. Could you do a scenario using 3% return?

[hicham]

She would have to go back to work full time in case we get another lost decade, since she won't be able to take 6% for 10 years.