You Can Retire On LESS Than You Think

The last couple of videos I posted talked about how much is enough to retire and the factors which are likely to lead to the success or otherwise of your plans. But I always get comments about using numbers that are too big and for some, seemingly unrealistic.

So today, let me reinforce this message and I’m going to back it up with numbers: You can retire on less than you think.

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CHAPTERS:
00:00 Welcome
00:33 Everything is about Cashflow
01:19 Back testing explained
02:07 Case Study Assumptions
03:04 Example 1 - Couple age 60
04:50 Example 2 - Couple at state pension age
05:41 Example 3 - Single at 60
06:21 Example 4 - Single at State pension age
06:54 The problem with forecasts
09:33 Conclusion

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📫 Leave me a comment below - I read all of them and love hearing from you!

[Daniel-bss]

Retirement is becoming increasingly challenging for many people. Low wages, inflation, and high rent costs make it difficult to save, and now, even middle-class Americans are struggling to buy homes—leaving them with fewer retirement options.

[NoahNollens]

Generating wealth is important, but protecting your capital is even more essential. Once lost, rebuilding financial stability becomes significantly more challenging. It's the difference between "missing an opportunity" and "losing everything" while new chances will always arise, losing your capital could bring your journey to an abrupt halt.

[jablot]

If you haven't got to pay for rent or mortgage you can live on £1k a month. I semi retired at 50 then fully at 55 with a small pension build up over 17 years. I live the life i want and im very happy.

[RobbieNixon-dw]

Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.

[KinseyGrowthThinking]

One good reason reason to retire as soon as you can is to enjoy your health and freedom while you still have the energy and time. Retirement gives you chance to pursue passion, travel, spend time with loved ones, or simply relax. The earlier you retire, the more quality time you may have to truly enjoy life on your own terms.

[oliviaHill-we]

People grappling with the difficulty of meeting essential expenses often encounter this situation due to inadequate savings during their working years. The decisions taken in readiness for retirement carry extensive consequences, as demonstrated within my own family dynamics. Differing investment approaches yielded disparate results. Guided by a financial advisor, I'm currently retired.

[ChristopherAbelman]

My original retirement plan was to retire at 62, work part-time, and save diligently. However, rising costs have significantly disrupted this plan. I’m concerned about whether those who faced the 2008 financial crisis had an easier time compared to the challenges I'm facing now. With a shrinking income and the stock market's volatility, I'm worried about my future Medicare expenses and whether I’ll have enough savings for retirement, especially since I’m unable to contribute as much as I once did.

[MaximilianFischer]

These days, retirement is harder than it used to be. Rather than investing, I have been saving for a very long period. I'm thinking of investing in stocks because of all the inflation, but I'm not only familiar with market tactics.

[MattsMkia]

High prices for everything have severely affected my plan of retiring. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.

[TaylorLiam-ob]

I need to start planning for retirement but have no idea where to begin. Between 401ks, IRAs, and Social Security, I’m completely overwhelmed. How do I make sure my savings last?

[karlpennington]

I retired 55 with 110k no debts living frugally on 10k a year just reached pension age 66 it wasn't as hard as I thought it would be .best thing I ever done 😊❤

[DanielWyatt-xe]

Retirement becomes truly rewarding when you have two key components: a solid financial foundation and a clear sense of purpose. Making wise investment decisions is crucial to achieving strong returns and enjoying a secure retirement.

[patoises]

on the question 1:48 "would you have outlived your money, or would your money have run out before you die" - which is the greatest risk? personally, a 100 year old with no money left in the bank is a much better outcome that dying at 70 with loads of money to spare.

[Riggsnic_co]

Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.

[tonyk]

Life is short as we all know, we all have lost friends and family before they had time to enjoy there retirement, enjoy and make memories now ❤

[Rogerederer-br]

Create a retirement budget Develop a budget that aligns with your estimated expenses and income sources. Identify areas where you may need to adjust your spending or explore additional income options.

[CliveBirse]

The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.

[BigDawg]

Retirement planning is tricky, but figuring out where to pull funds first made a big difference for me. I strategically reinvested my RMD, and despite doing very little trading myself, I’ve been able to build a stable weekly income of around $25k. It’s amazing how a well-thought-out plan can ease financial pressure later in life.

[Mikael]

It's amazing how history keeps repeating itself, and the urgency to prepare is definitely real! Investing can be the best decision of your financial life. I started my journey in 2021, and it’s been the best choice I've made for my finances.

[luminor]

It's looking more and more like the park bench will be my new home when I retire...at least there's a place to put my shoes underneath. Great info, enjoyed the video.