I'm Single with $1M. Can I Retire EARLY before age 65?

Are you single with $1M hoping to retire early? You are not alone. Many single women and men must think differently about their plans if they want to retire early (with confidence). Common Mistakes to Avoid ❌ Before diving into the case study, it's crucial to address some common misconceptions and mistakes that people often make when planning for retirement as a single person: ➡ Dividing Expenses in Half: While some costs may decrease when married, such as food and entertainment, others, like property taxes, utilities, and mortgage or rent, remain unchanged. ➡ Tax Implications: Single individuals have a different tax situation than married couples. The standard deduction is lower, and social security benefits are calculated differently, which can significantly impact your retirement income. ➡ Shift in Objectives: Your retirement objectives may differ when you're single. Married couples often focus on protecting both spouses throughout retirement, while singles prioritize their own lifetime and objectives. Sarah's Case Study 💭 Sarah is a 61-year-old single woman who recently went through a divorce. Beth's situation sheds light on how a change in marital status can impact retirement planning. ➡️ Evaluating Beth's Resources: Beth has approximately $2M net worth with ~$1M in investable assets. ➡️ Analyzing Expenses and Goals: Beth's desired annual retirement expenses were around $60,000 with additional expenses for trips, healthcare estimates, etc. Challenges and Solutions ✔️ Initially, Sarah appeared to be in a tough spot! What should she consider? ➡️ Saving More ➡️ Working Longer ➡️ Social Security Optimization ➡️ Investment Allocation ➡️ Tax Strategy Sarah's case study illustrates the importance of reassessing your retirement plan when transitioning from marriage to singlehood. By understanding your unique financial situation and objectives, you can make informed decisions that optimize your retirement lifestyle. The client name has been adjusted for security purposes, but this is a real client case study. Ari Taublieb, MBA is the Vice President of Root Financial Partners and a Lead Financial Planner (Fiduciary). Interested in a custom strategy to retire early? → https://vwo3759x8i7.typeform.com/earlyretirement Free Cash Flow Planner → https://root-financial-partners.ck.page/d17cd2634f Most Important Photos You'll Ever See If You Want To Have Success In Retirement → https://www.dropbox.com/s/40lis7bjblcqlwx/The%20Regret%20Gap.pdf?dl=0 FREE eBook: A Complete Guide To An Early Retirement → https://rootfinancialpartners.lpages.co/earlyretirementcompleteguide/ FREE eBook: Complete Guide to HEALTH INSURANCE to Retire Early → https://root-financial-partners.ck.page/749fadd4c5 PODCAST - https://earlyretirementpodcast.com/ INSTAGRAM - https://www.instagram.com/earlyretirementari/ LINKEDIN - https://www.linkedin.com/in/aritaublieb/ What video topic would you like to see discussed in a future video? 📣 Please like this video and tell us what you think! This feedback helps me create better content for you. –––––––––––––––––––––––––––––– 📣 Are you taking advantage of tax planning? Make sure you don't pay a dime more in taxes than you need to. Learn all tax tips to make sure you're not leaving money on the table. 👉 Subscribe to our channel and press the bell icon. ⭐ #Ari_Taublieb_Early_Retirement #Ari_Taublieb #retirement_planning #Estate_Planning #tax_planning #Investing #Cash_Flow #Investment_Management #Income_Tax_Saving_Guide #Income_Tax_Saving #Investing_Guide #IRAs ...................................................................................................................................... ⏰ SCHEDULE ⏰ - Podcasts on Monday @ 9:00am PST - Videos on Saturday @ 12:00pm PST 📺 Watch my previous videos📺 🎬 5 Reasons To Retire Early Today https://www.youtube.com/watch?v=F7Az2wj-HXI&t=52s 🎬 How To Optimize Portfolio Withdrawals https://www.youtube.com/watch?v=j6JaQom9i6I&t=7s 🎬 Don't Hire An Advisor ONLY Because They're A Fiduciary https://www.youtube.com/watch?v=VOnkPIaKVvc -------------------------------------------------------------------------------------------------------------------------------- ❣ SPONSORED: No, this video was not sponsored. -------------------------------------------------------------------------------------------------------------------------------- ⚠️ "DISCLAIMER:⚠️ All content is not to be received as financial advice and each individual should consult with their dedicated financial planner, tax preparer, estate attorney, etc. before making any financial decisions. This video contains content that I solely created and got permission from its creators to use. This Channel DOES NOT Promote or encourage Any illegal activities, all contents provided by This Channel is meant for EDUCATIONAL AND ENTERTAINMENT PURPOSE only. ⭐ Thank you for supporting the channel and for watching this video ⭐

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