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re: Can a person retire at 55 with 750k potfolio?
Posted on 4/22/26 at 9:27 am to Hawgleg
Posted on 4/22/26 at 9:27 am to Hawgleg
At $750,000 needing to last thru ~90 years old, you need to cut that $50,000/year in half.
Getting any kind of part time job in your 50s will make it possible, especially if it comes with some kind of healthcare.
You are never living a glamorous lifestyle, but you will have food on the table. Healthcare bridge is the biggest issue until Medicare kicks in at 65. SS will not be a thing until 67, but if you know what your benefits will be you can budget around that. Spend a little more early from portfolio, but potential growth is negated doing that.
Getting any kind of part time job in your 50s will make it possible, especially if it comes with some kind of healthcare.
You are never living a glamorous lifestyle, but you will have food on the table. Healthcare bridge is the biggest issue until Medicare kicks in at 65. SS will not be a thing until 67, but if you know what your benefits will be you can budget around that. Spend a little more early from portfolio, but potential growth is negated doing that.
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Posted on 4/22/26 at 9:28 am to Hawgleg
quote:
My greatest fear is dying young and not enjoying a few years of freedom.
Makes total sense and I feel ya. But freedom isn't cheap unless you just want to camp in a tent wherever you want non-stop.
Posted on 4/22/26 at 9:31 am to Hawgleg
quote:
Why would I quit this job to be tied down to another?
Because you will get bored and there are plenty of low stress part time jobs that can be fun.
Like someone mentioned earlier, drive a school bus. Those drivers are always needed here in North Texas, and they pay up to $25/hour. That alone comes out to around $40,000ish a year. Might be lower in NWA.
Posted on 4/22/26 at 9:48 am to DarthRebel
Im not stressed at my current job. I just have to be there.
.I turn 55 late this year. IF I am going to do it it will start next spring.
I dont like to bring this up or count on it but I will have a good inheritance when Dads time comes. Hes 80 and setting on a chunk. But not factoring that into the equation.
.I turn 55 late this year. IF I am going to do it it will start next spring.
I dont like to bring this up or count on it but I will have a good inheritance when Dads time comes. Hes 80 and setting on a chunk. But not factoring that into the equation.
Posted on 4/22/26 at 9:48 am to DarthRebel
You can do it, it's not going to be glamorous. I'm paying over 16k for an EPO plan and the max out of pocket is considerable. I would make sure I had the max out of pocket safe somewhere. It's likely over the next ten years you would hit that, more than once if you aren't in peak health now.
Posted on 4/22/26 at 9:54 am to Wraytex
'm paying over 16k for an EPO plan and the max out of pocket is considerable
What do you mean you are paing 16k for EPO plan?
Your premium is 16k a year? Plus max deductible?
I dont understand
What do you mean you are paing 16k for EPO plan?
Your premium is 16k a year? Plus max deductible?
I dont understand
Posted on 4/22/26 at 9:59 am to Ping Pong
quote:Ding! Ding! Ding!
you can safely turn that $750K into well over a million within 5 years. Just invest in an index.
Posted on 4/22/26 at 10:00 am to DarthRebel
quote:Sounds like he will catch a lot of trout and smallies. Boredom seems impossible.
Because you will get bored and there are plenty of low stress part time jobs that can be fun.
Posted on 4/22/26 at 10:02 am to Hawgleg
Yes, the marketplace is not your friend. I'd be happy to learn of some alternatives that aren't HMO
Posted on 4/22/26 at 10:11 am to Wraytex
Because you will get bored and there are plenty of low stress part time jobs that can be fun.
Sounds like he will catch a lot of trout and smallies. Boredom seems impossible.
That is exactly what I will be doing . And its cheap. Boredom will not be an issue. At least April thru November. I dont think anyway. Might even start Turkey hunting again.
Sounds like he will catch a lot of trout and smallies. Boredom seems impossible.
That is exactly what I will be doing . And its cheap. Boredom will not be an issue. At least April thru November. I dont think anyway. Might even start Turkey hunting again.
Posted on 4/22/26 at 10:23 am to Hawgleg
Work just enough to pay for your health insurance. That’s all you really need to make sure that you cover without dipping into savings.
Posted on 4/22/26 at 10:24 am to Hawgleg
I just retired a couple of weeks ago and at times am already trying to figure out how I’m going to spend my day. I refuse to get caught into the trap of turning on Netflix everyday. Instead I post a bunch of stuff that sounded better in my head on tiger droppings boards.
After a couple of weeks you have most of the little things out of your system that you felt you were missing out on, such as going to a place to sit outside and enjoy breakfast and coffee until 9 AM. Those are great but you need to make sure you plan beyond that. I’d recommend using about 3 weeks of vacation all at once before you make a big decision and then determine if you are ready for that lifestyle or if you need some time to figure out how you will spend your time. Retirement is great, but don’t find yourself sitting on the couch in your pajamas at 10 AM watching news television.
After a couple of weeks you have most of the little things out of your system that you felt you were missing out on, such as going to a place to sit outside and enjoy breakfast and coffee until 9 AM. Those are great but you need to make sure you plan beyond that. I’d recommend using about 3 weeks of vacation all at once before you make a big decision and then determine if you are ready for that lifestyle or if you need some time to figure out how you will spend your time. Retirement is great, but don’t find yourself sitting on the couch in your pajamas at 10 AM watching news television.
Posted on 4/22/26 at 10:27 am to Hawgleg
In a rural area where you can supplement with garden/livestock, maybe. The chart says you have 25 years left.
Posted on 4/22/26 at 10:34 am to Hawgleg
quote:Sounds like you are factoring that into the equation if you are considering retiring so young with $750k. Whether consciously or not, you realize you will have that to fall back on.
Im not stressed at my current job. I just have to be there.
.I turn 55 late this year. IF I am going to do it it will start next spring.
I dont like to bring this up or count on it but I will have a good inheritance when Dads time comes. Hes 80 and setting on a chunk. But not factoring that into the equation.
Posted on 4/22/26 at 10:35 am to Hawgleg
quote:
Can live easily off 50k a year.
Possible?
250k stocks
250 M Funds
250k in Iras and 401k
15k cash on hand.
Assuming you can access all that $750k penalty free, which you cant until 59.5, $750k should only produce you about $30k-$40k/yr without going down and thats typically at a much later age for that kind of withdrawal rate.
I would say no, way too risky they early in life beyond just the healthcare stuff others talked about. If you need $50k to live on, that portfolio isnt setup to produce that comfortably for 30+ years.
With the inevitable windfall from dad dying sure it might work (not knowing the exact numbers) but would hate to bank on that in the first 5 years and he lives to be 90 instead of 81-85 and then you find yourself in a really bad spot in your early 60s.
This post was edited on 4/22/26 at 10:37 am
Posted on 4/22/26 at 10:44 am to Hawgleg
You asked a question and I gave you my advice
I wouldn’t do it if I was in your shoes…I don’t think you can pay for health insurance on your own based on the numbers you’ve given
I wouldn’t do it if I was in your shoes…I don’t think you can pay for health insurance on your own based on the numbers you’ve given
Posted on 4/22/26 at 11:00 am to Hawgleg
I'm originally from North Arkansas. Life is pretty cheap there. I think your only wild card is health insurance.
Is there any hobby of yours that can turn into a stream of income merely to pay your own monthly health insurance premiums?
I know you can buy your own dental for about $50 a month (I'm doing it in AR). I'd check into an individual policy and see what it will set you back.
If you have a way to just offset that monthly premium, I'd say you would be fine by investing what you can in an index and just work only when you WANT TO.
Enjoy life. You're in a better spot than probably 97% of folks.
Is there any hobby of yours that can turn into a stream of income merely to pay your own monthly health insurance premiums?
I know you can buy your own dental for about $50 a month (I'm doing it in AR). I'd check into an individual policy and see what it will set you back.
If you have a way to just offset that monthly premium, I'd say you would be fine by investing what you can in an index and just work only when you WANT TO.
Enjoy life. You're in a better spot than probably 97% of folks.
This post was edited on 4/22/26 at 12:52 pm
Posted on 4/22/26 at 11:03 am to Hawgleg
quote:
I dont like to bring this up or count on it but I will have a good inheritance when Dads time comes. Hes 80 and setting on a chunk
Your Dad could live another 20 years, placing you at 75. Whatever wealth he has could also be decreased, potentially by multiple factors.
quote:
But not factoring that into the equation.
If you are thinking about it, you are factoring it in mentally. Personally I look at any inheritance as hookers and blow money, nothing I will live on. Neither my side or wife's side is wealthy, so it is also easy to look at it that way.
Posted on 4/22/26 at 11:13 am to Hawgleg
IS that portfolio invested in CASH flowing assets that you can live off of?
if not then no, if yes then yes.
dividends?
pull some out and invest in RE
do you know how to trade?
you need multiple streams of income.
all that drawing down principal is a crock of shite and defeats the purpose of putting all that money away. make it work.
if not then no, if yes then yes.
dividends?
pull some out and invest in RE
do you know how to trade?
you need multiple streams of income.
all that drawing down principal is a crock of shite and defeats the purpose of putting all that money away. make it work.
Posted on 4/22/26 at 11:21 am to DarthRebel
Thans for everyones input and its basicly what I am thinking. I just dont think most can understand how cheap I live. Hell I make 50k a year now and save money every year.
Only live once boys. Tomorrow is not a given and certainly 20yrs isnt.
I can take 3 months off without pay but keep insurance. I may do that next spring and if all goes well just hang it up after that. That is what I want to do. But do I have the balls to do it.
Only live once boys. Tomorrow is not a given and certainly 20yrs isnt.
I can take 3 months off without pay but keep insurance. I may do that next spring and if all goes well just hang it up after that. That is what I want to do. But do I have the balls to do it.
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