Here’s When MOST People Retire | Retire at 65

We plan for a perfect retirement age of 65 or a retirement age of 67, but a recent survey by the Employee Benefits Research Institute shows that most end up retiring between ages 62 and 64. A flexible retirement plan is the answer and can help you to be ready in case you need to retire earlier than planned.

___________________________
🔑 KEY TOPICS
0:00 - Intro
1:15 - 3 Retirees
2:12 - 2 Aspects
3:26 - 3 Things To Do
5:45 - Practice Retirement
6:54 - Conclusion
___________________________
💵 ABOUT US
We're a Frisco, Texas-based independent financial advisory firm serving individuals in several states nationwide. We're here to listen to your needs and guide you through the financial planning process.
___________________________
CONNECT 🤝
___________________________
CONTACT ☎
Website:
Phone: [phone]

[williamhartman]

I had originally planned to retire at 66 years and 8 months. I had an idea I could already retire but engaged a CFP to make sure I didn’t overlook anything. In putting together the numbers it became apparent I could immediately retire without affecting my lifestyle. Working longer would afford me to die with more money. Decided that was not my goal and pulled the trigger. I am only 2 months in but it has been the greatest decision I have made. Busy catching up on all the maintenance items that were postponed while working. Excited to try some lite traveling, senior center activities and lite gardening around the house.

[dyates]

I retired a year and seven months ago at sixty five. I never really gave it a lot of thought until probably ten or so years ago when I really started to put numbers together. Anyhow, the plan was to, like a lot of people, continue working to my full retirement age, which in my case would have been 66 and a half. Then I realized that for a couple of reasons, most notably I was READY to be done working (I had a fairly physical job, at least relative to my age) and also I was blessed and lucky enough to be able to afford to leave at sixty five, WHY work another year and a half for an extra one hundred forty dollars from SS, and in the MEAN TIME leave twenty four hundred (before taxes and medicaid premium)) on the table month in and month out? I didn't really have to. I love it. I will also say, that I was surprised to learn that the majority of my old co workers who are approaching that time are eyeing sixty two. It's worth noting that the plant I worked in had no less than eight people die, six of them very unexpectedly and one actually at work, and that really hit me and us. ALL of these people were men, and all of them were within a year or two of 62 (one was actually 65 and for whatever reason was waiting for his FRA at 66 and a half. I say all this to reiterate that when you can afford to retire and be comfortable, even if you have to cut a couple of things out, DO IT. I have found that you don't need as much money as you may think you do in retirement, but then again, listening to the scenarios Nick gave in this video, I get the feeling I'm way down on the totem pole compared to people he works with. I'm frugal and always have been by nature, but also never was a high earner either, and my "lifestyle" in retirement is about a third of the peoples' he mentioned, so maybe I'm on the wrong channel. Haha. Best of luck to everyone.

[marylandmike]

My wife and are taking S.S. @ 62 factoring in COLAS S.S. will cover ALL expenses, no debt with 900k saved…. It’s a no brainer for us

[BillTalkington-gr]

I'm gonna do land clearing when I retire. Already have most of the equipment. It's work but I enjoy it and will only do it part time

[xlerb]

I was kind of bad at picking a date. I'd planned on working to at least 65 if not beyond as I really liked what I did. But the company changed, the profession changed, and our investments were doing better than planned. So I retired at 63 a couple weeks ago. Not exactly a huge difference from 65 but I do not regret moving up the date. Life is dynamic, plans need to adapt. :)

[IndianaFrg]

I plan to retire at 62. That is just this time next year. We plan to do "work camping" in our RV for 6 months to earn some money to pay for Health insurance. Wife has already retired (59) and is helping me build our Youtube channel in effort to offset her loss of income. I think you are correct in suggesting flexibility in the actual date. If my work goes well, and they allow certain conditions to exist? I'll stay working with them. If not, then I'll plan my retirement at 62. My financial advisor is fully aware of my plan, goals and what we think we need to do to execute. I plan to be busier (with fun stuff) after retiring. Great video!

[briand]

I'm now taking a baby step. I normally work alternating Fridays (in addition to Mon-Thur, of course). I'm taking off all normally worked Fridays through end of this year. This is a part time "trial run" to possibly modify my schedule for one year (through age 61), then, pare that back to not work any Mondays either, then retire fully at 62. My work offers such retirement transition plans, but I fear that the boss won't really "get it" and expect equivalent work output to full time schedule. If that is the case, I'll just quit. I do enjoy my work in a fascinating field (hypersonic flight research for national defense) and I will miss the challenges we face every day (and the brilliant people with whom I share them). I am seeing an old man in the mirror every morning and we know not when the reaper will pay us a visit. It's time to take that last step.

[Sookisushi]

My goal is to retire Jan or May 2029, when I turn 60. Ive put a lot of thought and planning into this but I dont have a trusted advisor to go over my plan. Im currently looking for a fee only financial advisor but having trouble finding one.

[greggis]

Since I like structure in my lifer, I've already created a schedule for myself. I hope to retire after the end of this year after turning 62.

[melvano]

I was blessed to retire at 44, worked 20 hours a week until 50 and 6 hours a week until 2 years ago at 56. I eased into full retirement.

[thomasmoshier]

At 62, I had every intention of retiring at my FRA, 66 and 10 months. By the time I was 64, I wasn’t so sure I’d make it that long. Beginning at 64, I decided to reevaluate every 6 months. I ended up retiring at 65 and three months. Retirement is a personal decision that’s different for each of us. Only you know when enough is enough.

[mariasheppard]

I thought I could wait until 66 and 10 months for my full retirement age but recently decided to take it at 65 and 6 months which means I 'll get less ss but will continue to work only partime and enjoy life

[vinnyg]

I had originally planned to retire at 62 until I saw how much healthcare would be for us in the ACA marketplace. Not only were the premiums expensive but the maximum out of pocket (MOOP) was high as well. We/I couldn't justify spending a lot of our retirement money on just healtcare since I already had hit my employer's plan MOOP a few years earlier - we never know when we might need medical care. So I changed my retirement time to coordinate with Medicare with the backup plan of - if I need to retire I will. Luckily I had a fairly easy job for those 3 years so I wasn't killing myself.

Our retirement budget is higher than our working budget as we have to take into account healthcare and taxes which I account for in our budget; they were taken out of my paycheck while working. Everything else stayed the same.

[crimsonpearl]

I turn 62 in August. I am single male, no kids and ZERO debt. My retirement savings just ticked a tad over $1 million. I plan to work one more year and retire at 63.
I project my monthly expenses in retirement to be right at $4000 a month. A added bonus is my employer's health insurance continues in retirement if I work 25 years and retirement at least 62. I will be at 31 years at my employer when I turn 63. I think I am in good shape. Many tell me I can actually retire in August when I
turn 62 and no need to wait till 63. Any thoughts?

[Alvarez-mq]

Purchasing a stock may seem straightforward, but selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated.

[DWilliam]

Going out next April at 59…can’t wait.

[maricarmenmendez]

Hi crimso
You can retire at any time with one million but the the Medicare will kick in at 65
Just a thought because we are in the same page

[garth]

My goal was retirement at 54., so i did

[joelstanhope]

Im going to spend alot more time with my boat

[johnjohnson]

Most people get forced out and can't get rehired.