Can You Retire on Less than $300K with Josh Scandlen
Can you retire on less than $300K or $100K? What will be your biggest retirement expense? Learn the answers to these question and many other in today’s …
For me retirement has been rather boring. At 66 I am thinking about a part-time job just for "fun". Perhaps something related to animal care …
less than 300,000? that is funny . wife and I are both 72. 10,000 in the bank, 1500 social security between us and 800-1000 per month from part time jobs. Everything is paid for including the house. Property taxes are paid by homestead exemption We are doing fine.
Yeah I was tracking with Josh right up to the "no Bonds" part. While I agree with being heavy on stock exposure, if you retire early and like me have no intention of earning any money ever again (I was 52 when I quit) then I think say 20% exposure to bonds is not a bad thing. Of course I've "over saved" so I guess I have the luxury of not having to have maximum growth eitherl
The exception to the rule proves the rule ("outliers")
I retired shortly after I turned 62 and I take social security. I was planning on retiring later but my employer likes to push out people when they are 62. There were a number of tricks. I'd rather make the decision so I took early retirement instead of getting fired. I have a pension and social security that I live on. I don't plan on taking my retirement savings until I am 67. I work as a substitute teacher and have a higher income than I did before I retired. Money I earn from teaching goes into three different accounts. One is my "fun account" that finances trips and stuff that I might want to buy or do for fun. the other is my "emergency" account which is for emergencies and the other is my Roth IRA. I was a data entry clerk. I was terrible at it. I only did it the last 12 years of my employment because work I was doing before dried up. I had always wanted to be a teacher and with a BA degree in communications I was able to find work teaching. This summer I have a couple writing projects I want to put on Amazon so I can become the next Mary Higgins Clark (LOL!) and I also have a CD I want to record so you'll see me on TV winning a grammy (ha!ha!) I knew that at 62 when I retired I would go crazy getting up and never having a job to go to. I am the kind of person who needs to ease my way into things. I don't even have $300,000 yet. My former employer pays my health insurance and there will be about six months I'll have to pay that until my Medicare kicks in and of course I will need to buy supplemental insurance but as I say–I am still saving for retirement.
I always found peculiar the idea that you are expected to be spending no less than 80% in retirement. Given my financial responsibilities I expect to be comfortable with only 1/3. I am beginning to think the financial advisors want you to think you need more just to exert more leverage on you and in doing so get more money for their services. There, I said it!
“Reality Retirement Planning”—sums up the philosophy that both Josh and Danielle have been promoting for years. Thanks for your fresh perspective on practical retirement planning strategies!
Thank you both.
Hello Danielle – You mentioned an article you had on ways retired people can make extra money in retirement – could you point me to it???? Much Appreciated
What makes Josh's videos different from the videos and writing of others who write and video about retirement planning is that Josh doesn't just toss out abstract formulas and big numbers, but actually runs the numbers and gives a wholistic picture. He shows what the numbers are with people's Social Security, pensions, savings and the rest of the real picture.
No. It will not be possible to retire with less than $300k with Josh Scandlen. Josh would not be amenable to that.
Hi Danielle. Josh is great isn't he! I've been subscribed to his channel for a couple of months, he's a Godsend isn't he! I'm 56 and studying up for retirement . I've learned more from him in this short time than I probably have in my whole lifetime, honestly! He's got a great way of explaining things. He's definitely changed my life and perspective on retiring. I just have to follow through on the knowledge I've obtained from him. I cant believe you only have 3000 subscribers, is this a fairly new channel? I can tell you have a good way of explaining things too, you two make a good team, maybe do this more often if he's up to it. I did subscribe to your channel, I thought it was Josh's channel till I went to the comments. Maybe he can do a replay on his channel, I'm sure you can pick up some subs from his channel, dont know if that's Kosher. Good luck, I'll stay tuned! Dave H.
You can survive a fall from a four story building too. But should you try?
Thanks for having me Danielle, look forward to having you on my channel too to discuss Medicare planning!
Great video and thanks for sharing!
Excellent info, probably because I agree with him 🙂
Great info with points people aren't talking about… just because your mortgage is paid off doesn't mean you shouldn't account for housing costs in retirement. Definitely "aha" moments throughout this whole video!
For me retirement has been rather boring. At 66 I am thinking about a part-time job just for "fun". Perhaps something related to animal care …
less than 300,000? that is funny . wife and I are both 72. 10,000 in the bank, 1500 social security between us and 800-1000 per month from part time jobs. Everything is paid for including the house. Property taxes are paid by homestead exemption We are doing fine.
Yeah I was tracking with Josh right up to the "no Bonds" part. While I agree with being heavy on stock exposure, if you retire early and like me have no intention of earning any money ever again (I was 52 when I quit) then I think say 20% exposure to bonds is not a bad thing. Of course I've "over saved" so I guess I have the luxury of not having to have maximum growth eitherl
The exception to the rule proves the rule ("outliers")
I retired shortly after I turned 62 and I take social security. I was planning on retiring later but my employer likes to push out people when they are 62. There were a number of tricks. I'd rather make the decision so I took early retirement instead of getting fired. I have a pension and social security that I live on. I don't plan on taking my retirement savings until I am 67. I work as a substitute teacher and have a higher income than I did before I retired. Money I earn from teaching goes into three different accounts. One is my "fun account" that finances trips and stuff that I might want to buy or do for fun. the other is my "emergency" account which is for emergencies and the other is my Roth IRA. I was a data entry clerk. I was terrible at it. I only did it the last 12 years of my employment because work I was doing before dried up. I had always wanted to be a teacher and with a BA degree in communications I was able to find work teaching. This summer I have a couple writing projects I want to put on Amazon so I can become the next Mary Higgins Clark (LOL!) and I also have a CD I want to record so you'll see me on TV winning a grammy (ha!ha!) I knew that at 62 when I retired I would go crazy getting up and never having a job to go to. I am the kind of person who needs to ease my way into things. I don't even have $300,000 yet. My former employer pays my health insurance and there will be about six months I'll have to pay that until my Medicare kicks in and of course I will need to buy supplemental insurance but as I say–I am still saving for retirement.
I always found peculiar the idea that you are expected to be spending no less than 80% in retirement. Given my financial responsibilities I expect to be comfortable with only 1/3. I am beginning to think the financial advisors want you to think you need more just to exert more leverage on you and in doing so get more money for their services. There, I said it!
“Reality Retirement Planning”—sums up the philosophy that both Josh and Danielle have been promoting for years. Thanks for your fresh perspective on practical retirement planning strategies!
Thank you both.
Hello Danielle – You mentioned an article you had on ways retired people can make extra money in retirement – could you point me to it???? Much Appreciated
What makes Josh's videos different from the videos and writing of others who write and video about retirement planning is that Josh doesn't just toss out abstract formulas and big numbers, but actually runs the numbers and gives a wholistic picture. He shows what the numbers are with people's Social Security, pensions, savings and the rest of the real picture.
No. It will not be possible to retire with less than $300k with Josh Scandlen. Josh would not be amenable to that.
Hi Danielle. Josh is great isn't he! I've been subscribed to his channel for a couple of months, he's a Godsend isn't he! I'm 56 and studying up for retirement . I've learned more from him in this short time than I probably have in my whole lifetime, honestly! He's got a great way of explaining things. He's definitely changed my life and perspective on retiring. I just have to follow through on the knowledge I've obtained from him.
I cant believe you only have 3000 subscribers, is this a fairly new channel? I can tell you have a good way of explaining things too, you two make a good team, maybe do this more often if he's up to it.
I did subscribe to your channel, I thought it was Josh's channel till I went to the comments. Maybe he can do a replay on his channel, I'm sure you can pick up some subs from his channel, dont know if that's Kosher. Good luck, I'll stay tuned! Dave H.
You can survive a fall from a four story building too. But should you try?
Thanks for having me Danielle, look forward to having you on my channel too to discuss Medicare planning!
Great video and thanks for sharing!
Excellent info, probably because I agree with him 🙂
Great info with points people aren't talking about… just because your mortgage is paid off doesn't mean you shouldn't account for housing costs in retirement. Definitely "aha" moments throughout this whole video!
How about CC for us oldsters?
Josh tells it like it is! NO DEBT!