How Much Do I Need To Spend $25k/Month In Retirement?

Early Retirement - Financial Freedom (Investing, Tax Planning, Retirement Strategy, Personal Finance)

Ari Taublieb, CFP®, MBA

Entrepreneurship, Investing, Business, Careers, How To Retire, Retirement Planning, Stock Investing, Real Estate Investing, Retirement, Personal Finance, Save On Taxes, Early Retirement

4.7 • 583 Ratings

🗓️ 4 November 2024

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Ever wondered how much you need to spend $25,000 a month in retirement, or how to make sure your savings don’t run dry? This episode of the Early Retirement Podcast tackles these questions head-on, offering a deep dive into retirement budgeting for various spending targets. From $6,000 to $25,000 a month, we cover it all, drawing on listener comments, personal stories, and the infamous cauliflower analogy to explain the intricacies of tax optimization and risk management. Whether you’re aimin...

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome back to the podcast, a special episode today. How much money do you need to spend $25,000 a month in retirement?
0:08.8	Now, some of you, and you already know I'm laughing, are like, what the heck would I do with $25,000 a month?
0:14.7	Others go, you know what, I could find a way to spend it if you really said I was in a spot to do it, but I really would rather probably retire
0:22.3	earlier. Maybe I don't spend 25,000 a month. Maybe it's six or seven or eight, 10,000 a month,
0:28.7	but it means I don't have to work 10 more years. Yeah, that's more attractive to me. Now,
0:32.7	that's where most of you fall. So why am I making this video, this podcast? Well, because there's a large amount of people that listen to this show because of you fall. So why am I making this video, this podcast? Well, because there's a large amount of
0:38.9	people that listen to this show because of you guys. And I will often get asked a question.
0:44.3	And then sometimes there will be comments after I ask this question. And that's what happened
0:48.8	in this instance, where I had put out a video on YouTube. and this was a few months ago now, saying,
0:55.7	how much do I need to spend 12,000 months in retirement? And some of the comments look like
1:01.7	this. Now, I'm going to explain it. If you're just listening, per usual, on the podcast app,
1:06.5	all good. And if you want to watch this on YouTube, you can see what I'm talking about.
1:10.6	So this comment here, 12,000 month in California, that just covers your mortgage.
1:15.6	Other comments here, hey, this was great. I'm 44 with around 5 million invested in just some
1:22.3	Vanguard stuff. Can I withdraw 3% per year? Just so many good different comments.
1:29.2	Some people hear 12K a month, WTF.
1:32.6	I'm not going to say what that's for.
1:35.0	And you can see a comment followed up saying that's not outlandish, another person.
1:39.9	No, it's not.
1:40.9	Other people go, I agree, a little low, right?
1:42.9	For me, 15,000 of the minimum, just to, a little low, right? For me, 15,000 month minimum,
1:45.4	just to get in the parking lot of the ball field, 25,000 a month is more like it for a smooth
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Ari Taublieb, CFP®, MBA, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Ari Taublieb, CFP®, MBA and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.