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Started By
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re: Can a person retire at 55 with 750k potfolio?
Posted on 4/24/26 at 9:12 am to Hawgleg
Posted on 4/24/26 at 9:12 am to Hawgleg
quote:
Health insurance will be an issue
Check out open enrollment in December on marketplace. As long as you report less than $62k a year you can get gov. subsidy. I only pay $38 a month and get a monthly $1200 tax credit - BCBS.
1
Posted on 4/24/26 at 9:24 am to HeyNow
quote:
I wish they could find themselves in the middle of nowhere in a National Forest sitting by themselves next to a crystal clear creek, close their eyes and just listen to the sounds of the water moving downstream. Then, I think they would understand the meaning of life.
This!!!!
I have hit a state park every week since recently retired.
Hey now nails it!
Posted on 4/24/26 at 9:37 am to Hawgleg
Rule of 55 for the win
Posted on 4/24/26 at 11:01 am to Hawgleg
quote:
Single no kids.
House and vehicles paid for. no dept
Can live easily off 50k a year.
I think your answer is yes.
Posted on 4/24/26 at 1:45 pm to Hawgleg
No
Posted on 4/24/26 at 3:28 pm to Hawgleg
quote:
Can a person retire at 55 with 750k portfolio?
Do people in your family live long?
Posted on 4/24/26 at 4:56 pm to Hawgleg
quote:
Can live easily off 50k a year.
Sure about that? I get that your house and car are paid off, but eventually some costly home maintenance items will come up. Roof needing to be replaced, HVAC going out, etc. Same for your vehicles. Cars don't run forever, so eventually you're going to be spending a lot of money on repairs to keep her running or having to come out of pocket to buy another car. Health insurance isn't cheap either.
Posted on 4/24/26 at 6:51 pm to Tiger Prawn
If we’re being honest, the easiest solution for single and no kids at 55 would be to set your own no later than date. He could retire tomorrow and easily step-up his standard of living for the next 10-15 years.
Posted on 4/24/26 at 8:16 pm to Hawgleg
Yes...be frugal...find a gf..a nurse if possible ...school teacher
Posted on 4/25/26 at 6:19 am to TigerintheNO
quote:
My early retirement plan for health insurance was going to be a Wal-Mart greeter.
To get health insurance as a WM greeter, it requires full time employment and 90 days on the job or or part-time (average of 34+ hours a week) and a year of service. That ain't retirement.
Posted on 4/25/26 at 11:08 am to leeman101
quote:Losing employer based coverage typically qualifies for 60 day Special Enrollment Period. It might work out to get subsidy still if OP times it right and doesn't exceed income limits before leaving employment and doesn't realize too much additional income from retirement accounts etc
Check out open enrollment in December on marketplace
This post was edited on 4/25/26 at 11:17 am
Posted on 4/25/26 at 11:16 am to Hawgleg
If you are planning to use Rule of 55, check that employer 401k allows it. Also, consider rolling your IRAs into the employer plan first if they do and you may want access before 59.5.
Even if you don't intend to tap the $250k in 401k and IRAs early in retirement it may be optimal to manage taxes and subsidies. For instance, draw enough from traditional 401k annually to meet ACA income threshold and take full advantage of standard deduction then top off from brokerage up to the zero LTCG/qualified dividend limit.
Even if you don't intend to tap the $250k in 401k and IRAs early in retirement it may be optimal to manage taxes and subsidies. For instance, draw enough from traditional 401k annually to meet ACA income threshold and take full advantage of standard deduction then top off from brokerage up to the zero LTCG/qualified dividend limit.
Posted on 4/25/26 at 12:54 pm to TorchtheFlyingTiger
Also the rule of 72t could be in play here. I think he needs more money though
Posted on 4/25/26 at 3:31 pm to TorchtheFlyingTiger
quote:
If you are planning to use Rule of 55, check that employer 401k allows it.
Rule of 55 has nothing to do with employers. it's a rule that mitigates the early withdrawal penalty from 401k plan before 59.5. So it applies to all 401k plans.
What is up to each 401k plan is if it allows partial distributions. If a plan doesn't allow partial distributions, then you'd have to take a single distribution for the balance of your account. Which is what most people don't want to do when using rule of 55.
Posted on 4/25/26 at 5:13 pm to frogtown
I don’t think he has the asset base to generate that kind of income from dividends / cap gains
Posted on 4/25/26 at 5:22 pm to Hawgleg
Not sure if anyone made this comment yet, there’s a lot to read here.
You say you want to spend summers hunting and fishing… can you turn that into an income stream? Be a charter guide etc. enjoy what you do and bring in income. Even if you spend all you make, you can hold off in touching your nest egg. Every year you can hold off is a year less you will need it for AND a year more it grows untouched.
A mil at 60 sounds a whole lot better than 750 at 55. 2 years from starting SS (which will help with withdrawal needs).
Health insurance is going to be rough until 65. You are not really in a position that you can self-insure.
You say you want to spend summers hunting and fishing… can you turn that into an income stream? Be a charter guide etc. enjoy what you do and bring in income. Even if you spend all you make, you can hold off in touching your nest egg. Every year you can hold off is a year less you will need it for AND a year more it grows untouched.
A mil at 60 sounds a whole lot better than 750 at 55. 2 years from starting SS (which will help with withdrawal needs).
Health insurance is going to be rough until 65. You are not really in a position that you can self-insure.
Posted on 4/25/26 at 5:47 pm to Tiger Prawn
quote:
Roof needing to be replaced, HVAC going out, etc. Same for your vehicles.
Those are not every year expenditures. A roof with decent shingles usually last 20 years plus and if you are lucky and there is a hail storm in the area, insurance will pay for a replacement from hail damage. I know I just did it through insurance.
A decent HVAC should last over 15 years.
Posted on 4/25/26 at 6:21 pm to Simple Solution
Yep. Or Philippines.
Posted on 4/25/26 at 10:13 pm to Hawgleg
Keep working
Posted on 4/26/26 at 2:01 am to Hawgleg
You are only getting older. Just have your plan b in your back pocket if the market crashes. It sounds like there are already some good options on the table (reverse mortgage, Walmart greeter, Home Depot, Starbucks barista, canoe river guide, etc). You can also try to minimize your expenses by doing more fishing/hunting; and expanding your garden.
Have you thought about downsizing and selling your large house to buy a smaller cabin that’s closer to the river?
Have you thought about downsizing and selling your large house to buy a smaller cabin that’s closer to the river?
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