re: Can a person retire at 55 with 750k potfolio?

I’m 55 and I get it.

I would suggest find a side gig that you don’t hate to bridge the gap. The worst case scenario in these questions is running out of money in your 60’s and then you’re royally fricked.

I should be getting 1600.00 in SS range with the dip. Im fine with that.

I Im exited like I have not been in a long time. Every year I could take a calender and know what I would be doing every day. Not in 2027 if things go as planned.
Ive lived frugal and have not made any financial mistakes and its time to enjoy it. I told my financial guy yesterday that if I killed over tomorrow he would have spent more of my savings than I have. Not going to let that happen.

Didn't read the whole thread, but I would be concerned about your cushion for unexpected expenses. Some health issues can be extremely expensive, and health insurance for non-working folks is complicated. I retired at 55 and haven't reached medicare age. I am an active investor and still have a good income, so my premiums are expensive. Sounds like yours will be more affordable, as long as politicians don't take away the subsidies available to you. Your risk is quality of the plans that you can afford. Major health issues can require large out of pocket from you. Mine has a $7k deductible. Numerous plans don't fully cover many health issues. Dental expenses are a good example. A root canal typically requires a significant out of pocket, even with insurance.

Non-health expenses can be significant. An HVAC is in the $10k range. A roof replacement that isn't covered by insurance is another of numerous things that can be significant. How many vehicle purchases are in your future?

Are you set on staying single? Do you have elderly parents or other family that might need financial assistance? Will you want vacations that require travel and lodging?

The decision is very personal and very well might be a good option for you. Just throwing out some expenses that could be in your future. Good luck!

Didn't read the whole thread, but I would be concerned about your cushion for unexpected expenses. Some health issues can be extremely expensive, and health insurance for non-working folks is complicated. I retired at 55 and haven't reached medicare age. I am an active investor and still have a good income, so my premiums are expensive. Sounds like yours will be more affordable, as long as politicians don't take away the subsidies available to you. Your risk is quality of the plans that you can afford. Major health issues can require large out of pocket from you. Mine has a $7k deductible. Numerous plans don't fully cover many health issues. Dental expenses are a good example. A root canal typically requires a significant out of pocket, even with insurance.

Non-health expenses can be significant. An HVAC is in the $10k range. A roof replacement that isn't covered by insurance is another of numerous things that can be significant. How many vehicle purchases are in your future?

Are you set on staying single? Do you have elderly parents or other family that might need financial assistance? Will you want vacations that require travel and lodging?

The decision is very personal and very well might be a good option for you. Just throwing out some expenses that could be in your future. Good luck!

I can get an ACA Gold plan in 26 with 3k ded. and 6k max out of pocket for around 50 a month if I keep my MAGI below 40k. It will go up 15% this year. I pay twice that from my employer and bigger deductable. I have been to the doc twice in five years when i hurt back/hip. I know that all can change tho.

I have a 15k emergency cash fund in savings.
I dont travel, hate it, and I have everything paid for, house and vehicles.

I will be paying myself with dividends and captital gains.No fed tax and 3percent state tax. Developed a plan yesterday with financial guy.

I know it seems crazy to most, but I can live very comfortably, doing what I want when I want on 40k a year.

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I know it seems crazy to most, but I can live very comfortably, doing what I want when I want on 40k a year.

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I suspect many can replace their target nest egg $ with a number that is less (possibly far less) than they are thinking they need for retirement (ie, if they instead solved for the retirement annual cash flow needs vs just aiming for a big number).

Healthcare and longevity risk (have margin of safety and control of cash outflow) are very important!

That said, I sense many aim for big number and are willing to trade precious time to achieve that big number, when their real nest egg to fund their go-go, slow-go and no-go years are very different.

Time spent to achieve unnecessary nest egg $ target is expensive, I think.

I sense some people will read this as “bare bones” lifestyle financial planning. It is not. All levels.

Happy for you! Please post how you feel that first Sunday night when there will never be another Monday for you!

Or the biggest stress in your life moment…to drink that cup of coffee on your swing or in your boat.

Enjoy every minute of it.

Everybody’s retirement number is different. It really comes down to annual spending needs relative to investable assets + health, healthcare, and insurance costs.

I think retiring with $750K and no debt is doable for OP if spending is managed carefully and they have a realistic plan for health insurance and market downturns. My number is higher, but my situation is different.

Not easily.

If you switch to safe, conservative investments, say 4% return, you'll make $30k a year and deplete $20K.

You'd be counting on Social Security to kick in when you're 67, at which point your portfolio is down to about $500k. (Actually less because you're making 4% of a smaller amount each year.)