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re: Can a person retire at 55 with 750k potfolio?
Posted on 4/22/26 at 11:30 am to Jax-Tiger
Posted on 4/22/26 at 11:30 am to Jax-Tiger
quote:
but whether you can live on it for potentially 40 years
Not to be debbie downer here, and no offense to OP (just being real), but OP's average life expectancy is nowhere near 40 years. He's a single guy with no kids. The odds are not in his favor for a long life. We're realistically looking at an early 70's situation if we look at the statistics.
Maybe he meets a new love interest. That would certainly help his life expectancy, but it may not help his financial situation
1
Posted on 4/22/26 at 11:46 am to Hawgleg
quote:
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.
That’s pretty damn impressive. I wasn’t saving shite making 50k to 60k.
Posted on 4/22/26 at 12:07 pm to Hawgleg
Yes, you can, but you probably will run out of money if you pull 50K out of your assets every year.
Have you considered relocating to the third world?
Do you have an older relative who needs a caregiver that you can live with for free?
Have you considered what Social Security will pay when you get older, and figured out how much you will spend before and after SS hits?
I did what you are talking about. I had a good bit more assets than you but not even half of what I thought I needed in my IRA's because a substantial chunk of my money was tied up in an ESOP that I couldn't access for several years. I was retired for four years then got the right work from home opportunity and went back to work making only slightly less than my old base but I have health insurance, and I get to stay home all day. Works for me.
Just from the way your assets are allocated I don't think you are anywhere near ready. By the way, inflation is a b!tch and you can quickly find out you need $80K instead of $50K to live like you want to live.
Google Fire retirement and see if you can't figure some things out.
Have you considered relocating to the third world?
Do you have an older relative who needs a caregiver that you can live with for free?
Have you considered what Social Security will pay when you get older, and figured out how much you will spend before and after SS hits?
I did what you are talking about. I had a good bit more assets than you but not even half of what I thought I needed in my IRA's because a substantial chunk of my money was tied up in an ESOP that I couldn't access for several years. I was retired for four years then got the right work from home opportunity and went back to work making only slightly less than my old base but I have health insurance, and I get to stay home all day. Works for me.
Just from the way your assets are allocated I don't think you are anywhere near ready. By the way, inflation is a b!tch and you can quickly find out you need $80K instead of $50K to live like you want to live.
Google Fire retirement and see if you can't figure some things out.
Posted on 4/22/26 at 12:10 pm to JohnnyKilroy
quote:
With that low income he could get a cheap/free obamacare plan, right?
Low $40K can get it free for a single person.
Posted on 4/22/26 at 12:13 pm to CharlesUFarley
if it hasn't been mentioned, I used the 18 month cobra extension so that's an option.
Posted on 4/22/26 at 12:24 pm to Hawgleg
No. You need more cash or less spending, or abnormal market returns
Posted on 4/22/26 at 12:25 pm to UpstairsComputer
quote:
health insurance
Total scam. Invest what you would pay into premiums, join a prescription club, use non-profit hospitals and pay out of pocket.
Posted on 4/22/26 at 12:35 pm to Hawgleg
50 / 750 =0.0667. So unlikely.
Posted on 4/22/26 at 12:49 pm to Hawgleg
Not enough information. At first glance I don’t think that’s nearly enough at age 55.
Posted on 4/22/26 at 1:21 pm to PrettyLights
What more info do you need?
Posted on 4/22/26 at 2:09 pm to Hawgleg
Outside of US maybe. Inside no
Posted on 4/22/26 at 2:13 pm to Hawgleg
You absolutely could be able to retire. It wouldn’t be a lavish lifestyle, but its absolutely do able.
Posted on 4/22/26 at 2:15 pm to Hawgleg
It’s almost a 7% annual withdrawal rate. That isn’t sustainable
Posted on 4/22/26 at 2:16 pm to CharlesUFarley
quote:
Low $40K can get it free for a single person.
What kind of deductible with that?
Posted on 4/22/26 at 2:17 pm to GeauxZone90
Most here live in a 6 digit income bubble, but it appears the average individual income is just $62,000 in USA. If he has minimal bills and single, he is in the realm of possibility.
It does not seem he is wanting a lavish life, just peace and survival.
Would still get a part time job, and that part-time job does not have to mean working 4 hour days. You can simply work here and there for a few months, and take months off at a time. Just doing stupid gig work here and there would help.
It does not seem he is wanting a lavish life, just peace and survival.
Would still get a part time job, and that part-time job does not have to mean working 4 hour days. You can simply work here and there for a few months, and take months off at a time. Just doing stupid gig work here and there would help.
This post was edited on 4/22/26 at 2:19 pm
Posted on 4/22/26 at 2:24 pm to DarthRebel
quote:
Would still get a part time job, and that part-time job does not have to mean working 4 hour days. You can simply work here and there for a few months, and take months off at a time. Just doing stupid gig work here and there would help.
This isn't retirement and isn't what the OP positioned.
Posted on 4/22/26 at 2:27 pm to lynxcat
quote:
This isn't retirement and isn't what the OP positioned.
You can work in retirement, and it is just a suggestion. Being on food stamps is also an option.
Posted on 4/22/26 at 2:34 pm to Hawgleg
quote:
I just dont think most can understand how cheap I live. Hell I make 50k a year now and save money every year.
I'm sure I can grasp it as I'm from SW MO which is even cheaper than NWA. The question is what are you going to do with the "extra freedom?" If you are just going to do what you are doing now, then you clearly know the answer if you can live on $50k/yr.
But when you are young enough and able enough, more freedom usually results in more spending. Do you have an activity plan for your extra freedom that doesn't increase your spending? If so, go for it. But if you are just going to do what you are already doing, part time job just for health insurance sounds like a great option. You get more time to do what you want to do and you dont really have to worry about money at all regardless of what goes on.
Posted on 4/22/26 at 2:34 pm to DarthRebel
quote:
Why would I quit this job to be tied down to another? Because you will get bored
I’m 90-days into retirement. The freedom is incredible! Boredom risk is unimaginable.
Will that change? Doubtful. Every single aspect of my life is better. Every!
I hear OP! Not enough time right now (hiking now, case in point)….Sound bytes that come to mind to help OP think this thru:
Rule of 55 (401k with current employer - no penalty before 59.5).
Healthcare costs - big one to consider
VTI or similar investment growth potential is not insignificant.
Can you bridge yourself until SS kicks in (62?)
Hear you on future inheritance. Best not to count on it, but if miserable, life is short. Give yourself an exit with it in background of plan.
Would consider part time job down the road to fill the holes. Let that VTI money grow in so doing.
Face value, I would fight thru it for 5 more years. If you are absolutely miserable, life is short. Do what you have to do. Contingency of part time job is in your control.
Good luck!
Posted on 4/22/26 at 2:42 pm to Hawgleg
Is there a way you could retire but keep working for another 20 years
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