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re: Can a person retire at 55 with 750k potfolio?
Posted on 11/4/26 at 8:02 am to soccerfüt
Posted on 11/4/26 at 8:02 am to soccerfüt
quote:this is something I always heard but chose to minimize, I was wrong.
Healthcare will be the crappiest part of the process.
I could retire today basically if my wife kept her job w her benefits. If we both stop, bridging the next 8 years with healthcare would be tremendously expensive. About twice what I had factored in
Posted on 11/4/26 at 8:33 am to lynxcat
quote:
Agree that SORR is definitey something to hedge, but it's pretty easy to address. Cash. You need three years of cash that you can survive on that allows for the market recovery cycles to take place during that time.
Exactly. SORR is important and easily mitigated with cash. $150k in money market or similar addresses SORR. Tap it when market dips.
Will mean $600k may need to accommodate with allocation to more equities to balance a higher return over time (that is a bit ironic but thoughtfully done is possible).
This post was edited on 11/4/26 at 8:35 am
Posted on 11/4/26 at 8:56 am to soccerfüt
The OP is burnt out on his current job.
His current job isn’t the only job out there.
Take a six month to a year sabbatical, see what other employment options present themselves (part time, seasonal, whatever) and keep moving.
He said that he stands to inherit from his father; that may or may not happen. You’d need to prepare for the worst possible scenario and then hope for anything better than that.
Healthcare will be the crappiest part of the process.
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Things have changed a bit sinse my origional post.
Dad gave me and my sis approx 160k that I parked in the Mondy Market to protect agains downturn in market over the next few if I like not working.
My total worth not counting house and property is right at 1 M now.
I plan to draw about 4% next year. Got to watch MAGI.
I can pay zero for Health Ins. and have 12k max out of pocket with no ded.
Or 48 a month with 5500 ded and 6800 max ofp.
Not sure what option I will take but either way it is workable.
Money is not an issue here. I think I owe it to myself to give it a shot.
Im not 100% sure i will like it all tht time. But I might.
After 21 yrs this desk everyday is killing me. IF I set here another 5 I dont think I will be able to move.
His current job isn’t the only job out there.
Take a six month to a year sabbatical, see what other employment options present themselves (part time, seasonal, whatever) and keep moving.
He said that he stands to inherit from his father; that may or may not happen. You’d need to prepare for the worst possible scenario and then hope for anything better than that.
Healthcare will be the crappiest part of the process.
--------------------------------------------------------------------------------------------
Things have changed a bit sinse my origional post.
Dad gave me and my sis approx 160k that I parked in the Mondy Market to protect agains downturn in market over the next few if I like not working.
My total worth not counting house and property is right at 1 M now.
I plan to draw about 4% next year. Got to watch MAGI.
I can pay zero for Health Ins. and have 12k max out of pocket with no ded.
Or 48 a month with 5500 ded and 6800 max ofp.
Not sure what option I will take but either way it is workable.
Money is not an issue here. I think I owe it to myself to give it a shot.
Im not 100% sure i will like it all tht time. But I might.
After 21 yrs this desk everyday is killing me. IF I set here another 5 I dont think I will be able to move.
Posted on 11/4/26 at 9:40 am to Hawgleg
You're close, but I would at least work until social security eligibility with those numbers.
Posted on 11/4/26 at 10:47 am to Hawgleg
$160k gift, makes your plan much more tenable. Make sure he knows to file IRS Form 709 to claim it against his federal lifetime gift and estate tax exemption.
Posted on 11/4/26 at 7:19 pm to Hawgleg
If you were 65, collecting SS and on Medicare., withdraw 5% a year, live on $65-70K/yr....heck yeah....at 55...prob not
Posted on 11/4/26 at 10:52 pm to Hawgleg
You should work at least 5 more years and continue to invest. You’ll thank me later.
This post was edited on 11/4/26 at 10:53 pm
Posted on 11/5/26 at 7:01 am to Hawgleg
quote:
Can a person retire at 55 with 750k potfolio?
Do yourself a favor -- Continue to work until you are 60, keep your debt low, and continue to invest like you have been.
IMO it is challenging, but not impossible, to retire early without guaranteed streams of retirements income - workplace pension plan, disability, etc.
Looks like you have figured out $60K, $5K p/month (after taxes), is what you need/want in retirement. If that works for you consider it, but also consider what you could enjoy for your hard work & efforts with $7K p/month or more.
You will notice as you continue to obtain shares in your funds, IRAs, 401k that gains will increase AND generally quarterly and year end distributions/reinvestments increase too. You are on the right path IMO, but you might want to stick with hit a little longer before you put your feet up.
Posted on 11/5/26 at 8:35 am to HC87
Bird in hand:
Two in bush:
OP has SORR mitigated, and although margin of safety is thin, has a lifestyle planned that works for him, and places high value on time and personal freedom.
Always has option to return to work next 5 yrs, albeit risk of hiring in age discrimination / changing world (AI) risk is real.
What is 5 years of work life worth if could be traded to replace $5k / mo with $7k / mo?
5yrs equals:
(PV $2k/mo per yrs @ 5%)
$375k - if 30yr retirement
$300k - if 20-yr retirement
$190k - if 10-yr retirement
Is 5 yrs of misery worth it? Perhaps. I got call this week that a cousin is in hospital presently on Do Not Resuscitate at late 60s. Won’t see 70s.
Time is precious and not a given (nor are future $ returns). No one is depending on OP for income other than OP…I lean go for it, OP!
quote:
Money is not an issue here. I think I owe it to myself to give it a shot. Im not 100% sure i will like it all tht time. But I might. After 21 yrs this desk everyday is killing me. IF I set here another 5 I dont think I will be able to move.
Two in bush:
quote:
You will notice as you continue to obtain shares in your funds, IRAs, 401k that gains will increase AND generally quarterly and year end distributions/reinvestments increase too.
OP has SORR mitigated, and although margin of safety is thin, has a lifestyle planned that works for him, and places high value on time and personal freedom.
Always has option to return to work next 5 yrs, albeit risk of hiring in age discrimination / changing world (AI) risk is real.
What is 5 years of work life worth if could be traded to replace $5k / mo with $7k / mo?
5yrs equals:
(PV $2k/mo per yrs @ 5%)
$375k - if 30yr retirement
$300k - if 20-yr retirement
$190k - if 10-yr retirement
Is 5 yrs of misery worth it? Perhaps. I got call this week that a cousin is in hospital presently on Do Not Resuscitate at late 60s. Won’t see 70s.
Time is precious and not a given (nor are future $ returns). No one is depending on OP for income other than OP…I lean go for it, OP!
Posted on 11/5/26 at 11:32 am to Everyday Is Saturday
Time is precious and not a given (nor are future $ returns). No one is depending on OP for income other than OP…I lean go for it, OP!
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Oooh I am going for it. WHat is the worst that can happen?
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Oooh I am going for it. WHat is the worst that can happen?
Posted on 11/5/26 at 12:00 pm to Hawgleg
What's your withdrawal rate (updated for current NW post gift and additional contributions this year)? Projected SS benefit at 62 and full retirement age? You may be able to risk a higher withdrawal first 7+ years, if it can get you to SS then you can drastically reduce it.
Posted on 11/5/26 at 12:29 pm to TorchtheFlyingTiger
Delete
This post was edited on 11/5/26 at 12:31 pm
Posted on 11/5/26 at 1:29 pm to TorchtheFlyingTiger
Im going to start out at 4% and see how that goes. If i need more I would feel safe at 5% easily. I am not worried about the money end of it.
I dont care if the last check I pen is a hot one.
I have all dividends, interest and uncontrolled cap gains going into cash/MM.
What ever room I have left in November of next year I will sell Apple stock to reach my MAGI point. There will not be any cap gains tax on it.
I live cheap.
I dont care if the last check I pen is a hot one.
I have all dividends, interest and uncontrolled cap gains going into cash/MM.
What ever room I have left in November of next year I will sell Apple stock to reach my MAGI point. There will not be any cap gains tax on it.
I live cheap.
Posted on 11/5/26 at 9:18 pm to Hawgleg
If you can't figure it out for yourself, I'd say keep working.
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