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Started By
Message
re: Can a person retire at 55 with 750k potfolio?
Posted on 4/22/26 at 2:47 pm to notsince98
Posted on 4/22/26 at 2:47 pm to notsince98
Im in N Ark not NWA. Im in cheap country.
I can grab an 1/2, some groceries and hit the Buffalo for days and I am HAPPY. I have no interest in beach trips or vacas that cost money. I have never set foot in salt water. I just need more time to do what I want now while I am able.
If you make 8% on 750k that is 60k a year.
Everything I have has averaged over 8 over the last 15yrs. Some alot more. Just dont see how I could get into my priciple much drawing out 50k per. I do understand what a crash could do to me also.
I know I would have to pay taxes on that money. And I would not care if the last check i pen is a hot one.
I can grab an 1/2, some groceries and hit the Buffalo for days and I am HAPPY. I have no interest in beach trips or vacas that cost money. I have never set foot in salt water. I just need more time to do what I want now while I am able.
If you make 8% on 750k that is 60k a year.
Everything I have has averaged over 8 over the last 15yrs. Some alot more. Just dont see how I could get into my priciple much drawing out 50k per. I do understand what a crash could do to me also.
I know I would have to pay taxes on that money. And I would not care if the last check i pen is a hot one.
This post was edited on 4/22/26 at 2:57 pm
4
Posted on 4/22/26 at 4:36 pm to Hawgleg
quote:
I know I would have to pay taxes on that money
That depends on how you set this up.
You said you have $250K in IRA and 401Ks. I assume the other $500K is in a "taxable" account. Is that correct?
This post was edited on 4/22/26 at 4:43 pm
Posted on 4/22/26 at 4:45 pm to Hawgleg
quote:That sounds like a reasonable plan. Test drive it and see while still keeping insurance. You can then go on Cobra for up to 18 months (while you look for other options) if you decide to hang it up at that point.
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.
Posted on 4/22/26 at 5:10 pm to Hawgleg
quote:
But I am tired of setting at a desk all day everyday watching my life fly by
I'd find a job more rewarding for 50k a year (min) and be more practical.
Being tired of working isn't really a valid complaint. It's the norm.
Posted on 4/22/26 at 5:15 pm to Hawgleg
quote:
Single no kids.
House and vehicles paid for. no dept
Can live easily off 50k a year.
Possible?
250k stocks
250 M Funds
250k in Iras and 401k
15k cash on hand.
You need to do what you need to do.
But that isn't a plan.
It is driving blindfolded. Everything has to fall into place for a successful destination.
What are you going to do with your 9 hours a day if you do retire (and dont spend money)?
From the little I read, you can eat cheap and drink bourbon after 5pm.
I dont see the activity which replaces working, yet.
This post was edited on 4/22/26 at 5:16 pm
Posted on 4/22/26 at 5:39 pm to thunderbird1100
I had the high deductible plan because I wanted the HSA option. I am healthy, for the most part, so it works for me.
Posted on 4/22/26 at 5:41 pm to Hawgleg
I don't think anyone has brought up your social security. Have you checked on the SS website to see how much you can expect if you take it at 62? The US avg at 62 is $1,500/month so you would only need 32K out of your retirement account at that point to get to your 50k/yr if you went that route.
Posted on 4/22/26 at 5:51 pm to Hawgleg
Semi-retire. Find a lower paying job with health insurance doing something you like. Supplement the lower income with investments.
Posted on 4/22/26 at 5:53 pm to Hawgleg
The biggest fear I would have is what our politicians will do to you.
This post was edited on 4/22/26 at 5:56 pm
Posted on 4/22/26 at 5:57 pm to Hawgleg
In 2026 dollars, sure. But if you live just off the interest of $50-60k/year and don't grow the principal, doesn't that mean you'll also have to live off $50-60k in 2036, 2046, etc.?
I don't really see how that's possible.
I don't really see how that's possible.
Posted on 4/22/26 at 6:22 pm to Hawgleg
quote:
greatest fear is dying young and not enjoying a few years of freedom.
You already got divorced, you are free. You just don't know how to be an active participant in your own life.
Posted on 4/22/26 at 6:51 pm to Hawgleg
quote:
15k cash on hand.
This would scare me.
I'd keep working. Maybe quit what you're doing but keep some money coming in.
Posted on 4/22/26 at 8:20 pm to Hawgleg
quote:
Burned out,
I frickin feel that. frick working.
Posted on 4/22/26 at 8:26 pm to Hawgleg
Health care $24K top of budget
Posted on 4/22/26 at 8:44 pm to BottomlandBrew
quote:
He's a single guy with no kids. The odds are not in his favor for a long life
shite here i was thinking my teen son has taken at least 10 years off mine.
Posted on 4/22/26 at 9:02 pm to Hawgleg
Based on your posts, you're going to do it no matter what the MB says, so just do it.
I don't believe that this has been addressed. If you're not worried about leaving an inheritance, then you can get a reverse mortgage in 7 years if money is getting tight. That plus the hefty inheritance that you're getting from your dad which, for some reason, you've mentioned to us but are treating like doesn't exist. Do your thing.
quote:
Single no kids.
House and vehicles paid for. no dept
I don't believe that this has been addressed. If you're not worried about leaving an inheritance, then you can get a reverse mortgage in 7 years if money is getting tight. That plus the hefty inheritance that you're getting from your dad which, for some reason, you've mentioned to us but are treating like doesn't exist. Do your thing.
Posted on 4/22/26 at 9:08 pm to Hawgleg
quote:What you are missing is "sequence of returns risk." It.doeant.take a crash to decimate your nest egg in withdrawal phase. Just flat or slightly down.markets in first several years of retirement can drastically shrink your remaining portfolio if you are living on steady withdrawals.
8% on 750k that is 60k a year.
Everything I have has averaged over 8 over the last 15yrs. Some alot more. Just dont see how I could get into my priciple much drawing out 50k per. I do understand what a crash could do to me also.
Posted on 4/22/26 at 10:02 pm to Hawgleg
.
Well, I think a greater fear is running out of money when you are too old to go back to work then u start doing reverse mortgages and other crazy stuff just to eat.
My advice, error on the side of working at least until 62. Chances of dying young are less than outiving your money... see it all the time, so many old people tell me they didn't plan on living to be "that" old. Sad to see people scrapping by after a life time of doing well due to poor planning
quote:
My greatest fear is dying young and not enjoying a few years of freedom.
Well, I think a greater fear is running out of money when you are too old to go back to work then u start doing reverse mortgages and other crazy stuff just to eat.
My advice, error on the side of working at least until 62. Chances of dying young are less than outiving your money... see it all the time, so many old people tell me they didn't plan on living to be "that" old. Sad to see people scrapping by after a life time of doing well due to poor planning
Posted on 4/22/26 at 11:32 pm to PennyPacker
quote:
My greatest fear is dying young and not enjoying a few years of freedom.
quote:
Well, I think a greater fear is running out of money when you are too old to go back to work then u start doing reverse mortgages and other crazy stuff just to eat.
A duel of bird in hand vs two in bush. Except one matters not, as one precludes the other.
Penny Packer wreaks of a financial advisor with two in the bush bonus on the line.
PP, speak dat truth.
This post was edited on 4/22/26 at 11:36 pm
Posted on 4/23/26 at 5:54 am to NaturalBeam
He’s going to need 90000 in 20 years due to inflation. I’d keep working if I were him. At least until Social Security kicks in at 62.
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