Retire at 60? The Shocking Average Savings vs. What You Actually Need

Video Description

In this video Colin Exelby, CFP® breaks down the average savings in America vs the number you actually need for retirement. Wondering how much you really need to retire at 60? You’re not alone—and the answer might surprise you. While headlines throw out scary numbers like $800,000 based on outdated “rules of thumb,” the truth is far more personal. In this video, we break down the real average and median retirement savings, why the popular 8X rule can be misleading, and how Social Security and realistic spending patterns in retirement can dramatically change your required savings. We also dive into the “smile” curve of retirement spending—why it matters, and how it can help you retire sooner than you think. If you're tired of cookie-cutter advice and ready to make retirement planning work for your life, this video is for you. #RetireAt60 #RetirementPlanning #PersonalFinance #FinancialFreedom #SocialSecurity #RetirementSavings #EarlyRetirement #MoneyMatters #WealthBuilding #FinancialGoals 00:00-Intro 00:35-The Truth Behind Retirement Savings at 60 01:25-The Flawed 8x Rule and Why It's Misleading 03:15-Your Real Spending Will Likely Go Down 05:30-How Social Security Shrinks the Gap 06:25-A Better Rule of Thumb 07:10-Why Personalized Planning Matters More Than Ever 08:00-The Retirement Spending "Smile" 08:45-Don’t Let Bad Math Delay Your Life ⭐Support the Channel by Becoming a Community Member⭐ 👇https://www.youtube.com/channel/UC13s0hQVkEv-azgzhOe8QXA/join Outstanding Personal Finance Tools👇 Budgeting...👇 ★☆★ Rocket Money (originally called as TrueBill) ★☆★ https://rocketmoney.sjv.io/CelestialWM Wealth Management...👇 ★☆★Personal Capital ★☆★👇 https://personalcapital.sjv.io/CelestialWM Bookkeeping...👇 ★☆★Gusto Bookkeeping★☆★👇 https://gusto.pxf.io/CelestialWM [About] Colin Exelby is a Certified Financial Planner Professional™ or CFP®. He owns the virtual financial advisory practice Celestial Wealth Management. I provide financial planning for business owners and their families that makes sense. Transformational change is made when you focus on the big picture. My goal is to help you think outside the box about your life, your money, and your health to be the best you can possibly be. We strive to help you: *Optimize Your Cash Flow *Minimize Your Taxes *Build Your Net Worth *Create a Lasting Legacy ➡️ ➡️Free Guide Here: https://celestialwm.com/ptpebook-go/⬅️⬅️ Do you watch Dave Ramsey, Robert Kiyosaki, Grant Cardone, Gary Vee, Graham Stephan, Meet Kevin, Ryan Scribner, Replace Your Mortgage, Project Life Mastery, Russel Brunson, Alex Becker, Tanner J Fox, Refusing to Settle, Dan Lok, Jeff Rose, Tai Lopez, Bigger Pockets, or Pat Flynn? Then you'll love our channel! Be sure to subscribe and I'll see you in the comments! Top Financial Advisor Baltimore. Top Financial Planner Maryland. Affiliate Link Disclaimer: I only recommend products I would use myself and all opinions expressed here are our own. This post may contain affiliate links that at no additional cost to you, I may earn a small commission. Read full privacy policy at celestialwm.com. Celestial Wealth Management LLC receives compensation from YouTube for the presence of advertising before, after, and during this video content. Celestial Wealth Management LLC does not control the content or presence of any advertisements. The presence of any advertisement does not constitute an endorsement of the ad, company, entity, or product by Celestial Wealth Management LLC.