Haven't Yet Saved a Million. Can We Still Retire Early? - 520

Martin and Caterina in Green Bay are in their 40s and haven’t yet saved a million bucks. Are they on track to retire at age 58? Can Piggie and Kermit in California retire today at ages 50 and 57 and still build wealth for their children? Can Galahad and Zoot in Chicago retire early in their 50s, or do they need to keep working? Do Bo and Daisy have enough saved to retire now at 61 and 56? Plus, Chuck in South Carolina asks, if you can retire early, why wouldn’t you? Spitballing early retirement, today on Your Money, Your Wealth® podcast 520 with Joe Anderson, CFP® and Big Al Clopine, CPA.

Free financial resources & episode transcript: https://bit.ly/ymyw-520

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Timestamps:

00:00 - Intro: This Week on the YMYW Podcast

00:48 - In Our 40s and Haven't Hit a Million Yet. Are We On Track for Retirement? (Martin & Caterina, Green Bay - voice)

10:29 - We Have Over $5M. Can We Retire Today at 50 and 57 and Still Build Wealth for Our Kids? (Piggy & Kermit, CA)

18:24 - Watch 10 Will and Trust Mistakes to Avoid on YMYW TV and Download the Estate Planning Organizer

19:08 - We’re 56 and 52 With $500K. Can I Retire Early at 62? (Galahad and Zoot, Chicago)

25:36 - We’re 61 and 56 With $600K. Have We Saved Enough for Retirement? (Bo & Daisy, upstate NY)

33:49 - Calculate Your Financial Blueprint

34:12 - We’re 61 and 58 With $1.5M. How Much Can We Spend in Retirement, When Should We Claim Social Security? (Hefwannabe and Jane, OK)

42:19 - If You Can Retire Early, Why Wouldn't You? (Chuck, SC)

48:11 - YMYW Podcast Outro