If you are 55 and want to retire at 60, the next five years matter a lot.
In this video, I walk through a sample retirement plan for a couple who is 55, has meaningful savings, and wants to stop working at 60.
Under the starting assumptions, they are close, but not quite where they need to be for the lifestyle they want.
That does not necessarily mean retirement at 60 is off the table. It means the next five years need to be used intentionally.
In this video, I discuss:
• How to estimate what your lifestyle actually costs
• Why healthcare before Medicare can be one of the biggest planning issues
• How Roth IRA contributions may create more flexibility
• Why Social Security timing can change the plan
• How to think about the first several years before Social Security begins
• Why a few smaller adjustments may be enough to close the gap
The goal at 55 is not to predict every decision you will make at 60.
The goal is to build options so that when retirement gets closer, you are not forced into one path. You have choices.
If retirement is still a few years away and you are trying to figure out whether you can realistically stop working sooner, this video will help you think through the pieces that need to come together.