Retire at 60 with $225,000 in Retirement Savings? || Can I Retire?

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I am almost in the exact same position as this person but my baseline is only 1100 a month. Have 250k for retirement. I’m 59 and Social Security at 62 will be 1800..I don’t need anymore money because my expenses are less than what social security pays. Been retired for 2 years now.

I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.

I can't get enough of these! Admittedly that's at least partially because they make me feel really good about my own situation, but also because I just really enjoy seeing and thinking about the math behind it. I've even thought about totally switching careers and going for a CFP 😂

If zero debt, mortgage paid and have a big pension, yes. If debt, no other income, probably not unless you plan to move to the philipines and have no health insurance.

Drew, love these kind of videos. Keep them coming 👍

Sell the house. Get a nice beach front condo in Thailand or the Philippines. Put 100K back into the market and live nicely for the next 20 to 30 years

just subscribed! thanks for sharing your advice on retiring. - happy 4th!

I’m currently paying off my mortgage and the goal for that is December 2026. I want to retire by 60 also. And, I plan to retire with no mortgage payment. I was thinking of retiring at 57 but the penalty on SS is too great so I’ll just wait until I’m 60. I have my 401k, my savings and the equity in my home, my pension and SS too. I think I’ll be okay. I would like to find a part time job just to have pocket money and socialize 2 or 3 days per week. I’ll rely on my pension and SS to pay my minimal living expenses. I’ll have my property taxes and home insurance along with my regular basic needs to continue paying. I don’t think I’ll need to take out money from my 401k until much later on. I’ll be debt free which will be ideal.

I’ll have no debt and $400k at 60, I’m hoping to be able to retire then

It is in Thailand. Problem solved

Can be done if moved overseas

These videos are great! We are 7 years from retiring at 60, and plan to have 500,000 in 401k and a paid for house. Is this feasible? We expect our monthly expenses to be around $5000 a month. SS at 62 which will generate $3000 a month combined.

What do you do for health insurance?

I depends to me if you downsized big time it’s doable.

How does one account for property tax increases? Either with a mortgage or not, if you own a house, the property taxes will go up at some point in most cases.

Retire, in Cambodia, yes.