Financial Position - The individual has a total net worth of approximately $6 million, with a home valued at $1.3 million that is fully paid off, and a low-interest HELOC of $190,000 [5] - The investment portfolio includes $4.5 million across IRAs, money markets, and a 401(k), along with a whole-life insurance policy worth $400,000 in death benefits [5] Income and Expenses - Current annual income ranges from $350,000 to $400,000, with monthly spending around $20,000, which includes expenses for college tuition and supporting children [2][8] - Anticipated financial relief is expected as college tuition payments will conclude in the next two years [8] Retirement Considerations - The individual is contemplating retirement at age 59, feeling well-positioned due to their financial status, but facing skepticism from others regarding this decision [7][8] - The 4% withdrawal rule suggests that with a $4.5 million portfolio, an annual withdrawal of $180,000 would be feasible, equating to $15,000 monthly, which is $5,000 less than current spending [9][10] Investment Strategy - The individual has a robust return on assets with a compound annual growth rate of about 17%-18%, although market volatility is acknowledged as a potential risk [1][13] - Caution is advised against higher spending in the early years of retirement, as it could deplete account balances sooner [11][12] Rental Income - A one-bedroom apartment addition to the home could generate rental income of $3,000-$3,500 monthly, though the individual prefers to reserve it for friends and family rather than becoming a landlord [4][14] Social Security - Decisions regarding Social Security benefits require personal reflection, with the earliest claiming age being 62, which results in reduced benefits compared to waiting until Full Retirement Age [15][16] Lifestyle and Future Planning - The individual expresses a desire to live life to the fullest following personal losses, indicating a shift in perspective towards retirement and lifestyle choices [6][8] - Suggestions for maintaining income while transitioning to retirement include part-time work or "mini retirements," allowing for flexibility and exploration [17][19]

More Australians are shunning retirement norms, working well into their 70s as part of a growing wave researchers have labeled ‘ageless workers’ https://t.co/0bmENbQg8t ...

Tax Planning - The article discusses strategies for reducing tax liabilities when retiring overseas [1] - It focuses on international tax implications for retirees [1] Retirement Planning - The content is relevant to individuals planning for retirement outside of their home country [1] - It provides guidance on navigating the complexities of international retirement finances [1]

RT Xeer (@Xeer)hot take: 10m is definitely enough to retire in Singapore. wealth gap is real. ...

For many Americans, retirement is imagined as a well-deserved reward — years of freedom after decades of work. But for some, the transition can feel less like a vacation and more like a loss of purpose. That's what one 67-year-old retiree shared in a recent post on Reddit's r/retirement forum. After leaving his job in July, he admitted he's already rethinking the decision. "I feel I’m just doing make-do tasks to fill in the hours and not really accomplishing anything with my life," he wrote. "Right now, ...

Living a long and happy life in retirement is a goal that is surprisingly within reach for many people, as long as the right steps are taken before you get there. On this episode of Decoding Retirement, host Robert "Bob" Powell speaks with Debra Whitman, AARP's chief public policy officer and author of “The Second Fifty,” about the surprising answers to retirement's most challenging questions. Debra discusses the importance of where you live, maintaining strong relationships, and utilizing helpful tools lik ...

Social Commentary - The industry observes discussions about retirement savings among individuals, noting a disconnect between aspirations and current financial status [1] - The industry highlights a debate on whether 10 million is sufficient for retirement in Singapore, acknowledging the wealth disparity [1]

Rules have funneled unprecedented US retirement cash into private assets, raising new risks, Bloomberg Intelligence says https://t.co/eF6AV07hBk ...

hot take: 10m is definitely enough to retire in Singapore. wealth gap is real.wassieloyer (@wassielawyer):If you think 10m isn’t enough to retire, you live in Singapore.Literally everyone I’ve heard saying this lives in Singapore. ...

Baby-boomers are keeping their bad habits into retirement https://t.co/qkmQ7zpwea ...