When Can I Retire? How to Determine If You Can Retire Using 2 Free Tools

A viewer recently asked me if he was able to retire in two years. He provided his investment balances, projected expenses, and pension income. In this video we'll evaluate his situation to determine if he can retire.

To determine if you can retire, it's important to evaluate both your expenses and income in retirement. This can be challenging for several reasons:

1. Expenses are at best an estimate
2. Medical expenses can be a wild card
3. One-time and periodic expenses can be difficult to calculate
4. Future income (social security, pensions) may not start for years
5. Estimate how much of your investments you can spend each year is at best a rough estimate.

To help, I walk through two free tools in the video:

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Video Resources
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Personal Capital: https://robberger.com/go/personal-capital/yt-retire-yet
FI Calc: https://calculator.ficalc.app/

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Investing Tools
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My Book (Retire Before Mom and Dad): https://amzn.to/2MsRJ9B
Personal Capital (Investment Tracking, Retirement Planning): https://robberger.com/go/personal-capital/yt-retire-yet
New Retirement (Retirement Planner): https://robberger.com/go/new-retirement/yt-retire-yet
Stock Rover: https://robberger.com/go/stock-rover/yt-
M1 Finance $30 Bonus (IRA & Taxable Accounts): https://robberger.com/go/m1finance-bonus/yt-retire-yet

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Popular Videos
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1️⃣ How to Create a 3-Fund Portfolio: https://www.youtube.com/watch?v=kmw8OpGp2rM
2️⃣ How I Manage 28 Accounts in One App: https://www.youtube.com/watch?v=cQk6EQk3iGg
3️⃣ 7-Step Financial Checkup: https://www.youtube.com/watch?v=mNWGWxKzKTY

#retirement #caniretire #robberger

ABOUT ME

While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. Today I'm the Deputy Editor of Forbes Advisor, managing a growing team of editors and writers that produce content to help readers make the most of their money.

I'm also the author of Retire Before Mom and Dad--The Simple Numbers Behind a Lifetime of Financial Freedom (https://amzn.to/3by10EE)

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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. Your investment and other financial decisions are solely your responsibility. It is imperative that you conduct your own research and seek professional advice as necessary. I am merely sharing my opinions.

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