Timothy Sumer

Use Your 401k For Retirement Income at 55 #shorts #retirement #financialfreedom Retire at 55 with the Rule of 55 || Retirement Planning for Early Retirement In this video, I want to discuss the rule of 55 that helps individuals with a 401k retire at 55. This retirement planning rule gives individuals and families who are doing retirement planning at 50, the ability to determine if retiring at 55 is a good financial planning and retirement planning decision. What is the Rule of 55? The Rule of 55 allows someone with a 401k to use that 401k for retirement income between the ages of 55 and 59 without paying a 10% penalty. In order to use the rule of 55, you must be turning 55 in the year you leave your job and you must use your current 401k for retirement income. If you are younger than 55 or you use an old 401k or IRA for retirement income before 59.5, you will pay a 10% penalty. Retirement income strategies and retirement income planning are two big pieces to anyones r

401k Rule Of 55 | Take Early Withdrawals from 401k w/o penalty #shorts #retirement #financialfreedom Full Video Here: Can I Retire at 55 with $1,000,000 in Retirement Savings? || Social Security Benefits Explained In this video I want to look at a 55 year old asking the question, Can I Retire at 55 with one million dollars. We are going to look at all three social security options for this 55 year old looking to retire and we are going to look at expenses with inflation and COLA on social security. When planning out retirement income streams, its important to consider when social security benefits are going to start, how long retirement savings and retirement investments are going to last, and how inflation on our expenses interact with our planned retirement income. Retirement income strategies and retirement income planning are two big pieces to anyones retirement planning calculator. Whether you are wanting to know strategies for "retirement planning at 30&quo