Can I retire? I get that question… A LOT! And the answer more often than not is YES YOU CAN!
Unfortunately we’ve been trained to believe we need millions, MILLIONS I tell you!, in order to retire.
I don’t get it. Well, actually I do get it. Is it possible the folks saying we need MILLIONS would actually benefit from us saving more? Just throwing it out there as a possibility.
In this episode which I’ve divided into two videos, I share with again the Motley Fool article about what the average retiree actually needs in retirement for income.
The good folks at The Fool use actual, empirical evidence from the Bureau of Labor Statistics (BLS) to show that the number is much lower than most people realize.
I also break out Ty Bernicke’s classic article from the Journal of Financial Planning in June 2005 called Reality Retirement Spending which also uses BLS numbers via the Consumer Expenditure Survey (CES) to show that retirees actually spend LESS as they age.
So taken together the picture begins to be painted that maybe, after all, one could retire sooner, or with less assets than was previously considered.
In fact, in this video I show you how $100,000 can do it for you. Should you retire with $100k based on my video alone?
No. Do your own research. But I bet when you do you will be pleasantly surprised and for once can see the light at the end of the tunnel.