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Until Kamela gets elected. S and p may be down for 30 years from round 2 of the great depression.

This is so helpful! We've been wondering about this. Very thorough analysis.

Yes Penney that doubt is that but their is any kind of investment that pays a daily compound interest?

Real informative

As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?

Don’t you mean “John and Bev” and not “John and Beth”? I’m a fan and subscriber of @RetirementTravelers

Thank you for the video and topic Julia. Question for you regarding HSAs. We are currently have a family med plan via my wife's employer which has an HSA offering. Additionally, I have an employer paid plan which also offers and HSA. Are we eligible to contribute to either HSA? I'm assuming if we are its only one or the other not both due to the contribution limits (similar to IRA limits).

It isn't really tax free. You are putting money that is already taxed into the Roth 401k. My company does allow after tax contributions so I'm doing this but my husband's company does not.

It’s time for you to host a PBS special covering various aspects of retirement. You are a very clear and effective communicator.

Does the rule of 72 help to determine the doubling power of the rate of return?

The key factor that doesn’t get enough attention is the complex optimal way to weight life expectancy. There’s the median, which means you’ve got a 50% chance of reaching that age, but probably won’t live long beyond it if you do. There’s the average, that’s better for figuring the way to maximize the benefits received (but make sure you count them along with investment returns, and not just take the straight line ‘break-even points’ to calculate). But that’s also flawed in that a lot of people die in their 70's, so it’s a possibility to consider, but since there’s very little chance of running into financial difficulties by then, it should ‘weigh’ very little in your planning process (if I had an equal probability of dying at 71 or at 95, I’d worry a lot more about my finances in the latter case). What’s the best way to make a weighted average, that factors in all of my priorities: making sure I don’t run out of money (putting a higher weight on a long life), dying with the most money (if my heirs are a high priority, if not, skip it), maximizing my budget in my go years (which conflicts with my first priority), maximizing SS benefits (just because I feel like I ‘won’ if I beat the government), and a utility of money approach that discounts future dollars from a total evaluation of all the ways and reasons a dollar in my pocket is worth more than an IOU?

Of course, as a financial advisor, you’re giving somebody that has $1 million most of us don’t have that so maybe you can make a video for us little people

thanks Julia, I found your channel through the retirement travelers (love them). I'm currently 43 years old and soaking in all this info. The comments section is great. You're motivating me to move into a more balanced portfolio.

I retired at 51 in 2021. I never touched my retirement savings. I lived of my pension from Department of Justice and my veteran compensation. Both receive cost of living adjustments. I'm to young for Social Security. I will start drawing mine at 62. I can withdraw my retirement savings without penalties because law enforcement. I won't draw Medicare coverage because my health care is free at VA hospital and DOJ let me carry my health insurance. I have mandatory withdrawal at 75 for investment and the avg life expectancy is 77. I probably leave some generation wealth. 😊

Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.

Retired in 2010 at 52 best move i could ever make.

I wouldn’t have retired with an 85% chance of success. All the calculators said 100% before I retired.

Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.

Great videos, but can you use a better microphone. It's distorting from clipping. Constructive criticism, I hope. 😊

If you can retire, retire! Don’t get into the just one or two more years of working trap! Life is short and tomorrow is not promised. The slow-go and no-go years don’t care how much $$ you have! Take care of your health now so that you can enjoy retirement before those yrs come.

Very clear explanation. Great job. Now, to figure when to pull the plug and retire. Beautiful gal, too. 😊

Very informative video on mega backdoor IRA which very few people know. Thanks for sharing this video.

A working person lives with a lot less, and can get by with less. Key, is small home old trucks, and low taxes. 62 looking better all the time.

Wealthy people insure their fortune with INSURANCES, taking later moneys to insure their own fortu e is passed along tax free, educate yourselves! Living to 95 is reserved for less than 5% of the worlds population, usually not realists

netflix is only $11 a month? im getting ripped offf then

I have had a NYS LTC Partnership policy since 2008. The premium over that period has increased at less than a 3% annual rate over that 16 yr period. In NYS I am allowed to apply a tax credit against the state taxes that I owe in a year using an amount of up to 20% of the amount of my yearly LTC premiums.

Most everyone’s takes SS at 62 never mind the financial analysis… for the simple reason that tomorrow we’ll either be dead or living in some kind of socialism.

Great video Julia! Rich

Thank you, for sharing this information about our "Silent Spending Habits". In the first category, I will soon be canceling my Netflix, Paramount Plus, and Peacock streaming services. Might have to also say goodbye to my Apple News Plus service because, with my free public library card, I have access to both the "hoopla" and "PressReader" apps. In the second category found out quickly that, I had to place a limit on the amount of money given to family and friends in any given calendar year (i.e. $2,000, $4000, or even $8,000). As for as the third category this appears to be mainly, just a female issue. For example over the upcoming holiday, I will visit a high end shopping mall but, only to do some window shopping (smile ... smile).

Awesome video. Definitely need to start controlling the "Silent Spending," especially if I plan to retire in two years. Thank you for the reminder.

Can you go into annuities in more detail? I haven’t heard good things about them.

Sent here from the retirement travelers…. Thank you for this information.

Great video, Julia!

We were looking at hybrids but at 65 yo they are insanely expensive. I ended up with an LTC plan at $800 a month for the both of us. 360K max payout with no inflation increase. Not sure if this was the best choice but it was the cheapest. I also heard that if there is a waitlist at a care facility, those with LTC insurance go to the head of the line. Any truth to that?

I'm over from John and Bev's video. Newly subscribed.

Good video. My pastor told me I'd go to hell if I canceled my monthly subscription to church... Ha!

Oh yeah, that’s doable😂😂

Very good synopsis of the many factors one needs to consider before retirement. I didn't hear you mention a pension, though (yes, I know they're not common now). Also, one needs to minimize or eliminate debt. I have zero debt, have a pension that pays all the bills, have only a Roth IRA, and don't need to sell investments for living expenses. Interest and dividends pay for all of my extra fun things. And I was able to retire at 57. Live frugally, have a good plan, (considering such things as you note), get rid of debt, and invest as much as you can possibly afford while you are working into a diversified portfolio of index funds.

Julia is very smart and spot on with her analysis. I have to say that after watching this it can very overwhelming so much so you might ever want to retire. Also keep in mind retirement like life itself is not only about the financial part. You can do all things financially correct but will not have the time to enjoy it. I’m 64 and considering retiring early next year. Im in a good spot financially but even this makes me think….

I’ll take at 62. That way I’ll save the American people from having to pay me so much later.

Gotta be honest, though very true, whenever I hear about the increase from IRMAA, I first think, wow, that is something like a $5K increase in Medicare cost for the affected couple. But then I see that those increases only kick in at like 260K / yr MAGI and think wow, that is basically less than a 2% hit to these people. Just doesn’t have the same sting. Maybe I’m just not as annoyed by progressive taxation?

I’m confused about the last point. If I’m making $100k I’ll owe around 10% in FICA taxes, plus federal taxes of around 7% actual tax rate. That’s $17k of the original income that I wouldn’t be planning on spending because I’ve over had it. Add in a saving rate of 15% and that $17k becomes $32k leaving $62k worth of spending that I/my family would be used to spending. How does spending less than you made working in retirement not happen? What am I missing?

You have to prepare for early retirement. If you do have an increasing stream of income, of course you are going to suffer in retirement. That is why God gave you 35 plus years to prepare and invest.

Another retirement planner invested in having you keep a big fat portfolio for a loooong time so she can feed off it as long as possible.

trading definitely crappy years for possible crappy years ... a sucker born every second 'round here

Good video. This is why I am still working to reach Medicare age. We have 3+ million invested, paid off house, collecting two pensions, have enough cash for several years.

Just have a 6mo+ reserve in a HYSA to offset seq of ret risk and as little as possible in restricted retirement accts. Then just have to concern yourself with your social and psych portfolio like every other 'retiree'.

At married & 55 I'm doing a decent job of saving in retirement accounts (approx $650k) but our debt is too high and I can't seem to whittle it down. I don't want to stop saving in order to pay down CC balances but also find side income unrealistic (a professional working at Domino's on the weekends? Come on...)

This is excellent! I have been researching early retirement over the past few years and this video highlights the very things I am thinking about. I am in my last year or so of work and am battling between roth vs pretax, I think I will stick with roth.

I'm retired early and you are absolutely right on the increase in spending fist couple years so far. I agree that people need to be prepared for that. Unfortunately, due to some rotation in our taxable accounts, our income has been prohibitive to doing any Roth conversions and no benefit from ACA subsidies. Once I can get my capital gains issues under control, I will be doing Roth conversions to take advantage of lower taxes. I don't foresee tax rates rising significantly in the future at the lower brackets. Your use of the highest tax brackets rates is very misleading as during the very high rate years there were many ways to reduce stated income and we are talking about very large AGI levels to get there. I realize that RMDs will be a big "problem" in my 70s but I only see that as a concern if I'm obsessed with leaving a larger inheritance. I told my kids I'm spending it all. Those that need it don't deserve it and those that deserve it don't need it. I'd rather keep as much as I can until then to alleviate concerns about sequence of return risk. If my portfolio drops enough, RMDs won't be an issue any more.