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3 Simple Steps to Determine If You Can Retire

How do you know if you can retire? It seems straightforward, but the answer is far from simple. Beyond portfolio balances and age thresholds, there are other things to consider. James explains his three-step test to determine your retirement readiness. By pulling together principles from the 4% Rule, straight-line projection, and a Monte Carlo analysis, you can assess whether your portfolio can sustain your desired lifestyle over decades amid various market conditions. However, these tests alone don’t paint the complete picture. James emphasizes the importance of considering other assets like potential inheritances or property downsizing to more fully and confidently evaluate when you can retire. Questions Answered: How can I determine if I’m financially ready to retire? Is the 4% Rule sufficient for determining retirement readiness? ======================= Learn the tips & strategies to get the most out of life with your money. Get started today → https://www.rootfinancialpartners.com/ Get access to the retirement software I use in this video and more → https://retirement-planning-academy.m... 🔔 Make sure to subscribe here to be notified for future videos!    / @rootfp   _ _ 👥 Make sure to connect with us on all socials below → https://beacons.ai/rootfinancialpartners ⏱Timestamps:⏱ 0:00 - Consider withdrawal rate 2:14 - 4% Rule 5:12 - Not a perfect strategy 7:39 - Straight line projection 9:09 - Downside of SL projection 11:07 - Monte Carlo test 13:07 - Understand severity of failure 16:20 - Defining success, 18:25 - Looking ahead Other videos we think you'll like: About Root:    • Financial advisors with heart.   Worried about retirement? Start here:    • Worried About Retirement..Start With ...