Відео

My mom made it to 96. It's about how u take care of yourself

I like what you do. I like the way you do it. It's financially prudent, logical, and reasonable within the context of historically correct planning strategies and actions. But you, like every planner, accountant, actuary, and economist, are made largely useless by Congress running deficits making price INFLATION. No strategy works in this sheer madness. (I truly believe the only solution is to vote out EVERY incumbent in Washington. But voter IQs...)

Thank you for the informative presentation. However the sound effects are loud and jarring when listening on the car's sound system.

Great info Nick! You're the first financial advisor that I've seen that addresses how dividends and interest help with withdrawals. I've always wondered why nobody has talked about how they can reduce the overall amount being taken out of your retirement accounts. It's part of my retirement strategy and you have confirmed that it's a legitimate thought! Thanks for the video!

Let’s say a person’s social security would be $2,000 a month if he takes it at age 63. but he doesn't take it and it goes up 8%..so if at age 64 the amount would be $2,000 + 8%- or $2,160? And then if person waits until age 65 the monthly would be $2,160 + 8%- or $2,332?

ASAP is always best

That is pretty cool software... Is that something developed in-house?

Theyve been saying this for so long even if they did it, nobody would believe them or even know about it, cause they been saying forever

My withdrawal strategy: Each January I do a MonteCarlo and set my spending rate to a 90% success rate. I use a bucket system so that 3 years in Bank and CD. 5 more years in Bonds and Preferred stocks. The remainder is Total Market and overseas.

Incredibly helpful! Thank you!

Good info! I'll be retiring on June 1st, when the S&P hit it's high a couple of months back I put my money in a capital preservation fund, it is an institutional fund from a large fund company. When I looked at it's holdings it has various other funds under it's management so I'm paying for it's fee plus the other fees, luckily it's hovering around 0.1% but it could have been more. I think some (all?) target date funds do the same thing. For a small company like yours I think it's important to keep the 401K fees manageable and you have some control over things. Unfortunately when you work for a large company the employees have no control over where our money goes. My 401K has been to different 401K managers over the years for who knows what reasons.

I know nothing about trading /investment and l'm keen on getting started. What are some strategies to get started with?

Hurry up already... Retired in 2019 after 50 years of work at 66

End of July - 3 reasons: 1) company bonuses go out at the end of June 2) I turn 59.5yrs old mid-July (thus, i can start taking out of my IRA) 3) I can add my vacation days to 4th of July holiday (spend out all my PTO) and max out my summer on someone else's dime.

I disagree that SS benefits everyone. If you took the 12% payroll tax and invested it, you'd come out ahead if you are a high earner.

6% over 168k is a lot of money if your family is paying for high property taxes, college tuition and health insurance. Plus your marginal rate is higher. Anything to prevent an upper middle class; we are basically killing the American dream. What's strange to me is the fact that spouses get benefits even if they don't pay in.

Old people vote! I can't imagine any politician with seeds enough to allow SS cuts. There would be massive revolt in the streets.

It was just announced that the Trust Fund would not run out till 2035! So one year longer before cuts could happen. Even doing an analysis with SS completely gone is just nuts! Might as well assume they die at 70. 20% is at least somewhat rational, although I don’t think that will happen to “current retirees”

The number of calculators on dinkytown is crazy.

Nick, I have been using Dinkytown for several years. Great site. Cheers!

I use the Dinkytown website for estimating 1040 taxes. I've used that for at least 5 years, but probably longer.

Well this won't happen because Sleep Joe is planning on raising the amount of taxes paid on ss. Read his budget they are trying to pass this month.

Just another worthless bill that they won’t look at. There’s been a few in the last couple years but they don’t care if we struggle or not. So people don’t plan on anything from this pos government we have.

I agree with your conclusion. A sliver of this is probably prudent but not an overly large amount. Diversity is probably the solution. The dollar may not always rule our future. In fact, I do think it will be replaced, but in the very distant future. In this scenario, gold will be of value.

The solution (IMO) is, eliminate the taxation cap (currently at $168, 000). You have professional athletes who get 50, 80, 100 - million dollar contracts and they pay SS taxes on $168,000. 😡

I am 64 and divorced from a 23 year marriage with my husband. He was collecting social security and passed away 2 years ago. I don't have enough credits to qualify for ss benefits because I worked part time. Can I still collect ss benefits from my ex spouse?

The bill doesn’t eliminate indirect taxes on social security income: IRMAA, ACA subsidies, and NIIT.

I always thought double taxation in United States is illegal!!

I agree. SS is the mother of all annuities. People criticize SS, but it is a life saver for most retirees. Lot of myths about the govt looting SS and SS going broke and won’t be there in the future, etc. But without SS most retirees would live in poverty.

One thing I don't follow is that "capital gains became taxable" ? Briefly where is that caused? First, even if the entire delta 5K distribution was long term, that gives a total of 20, which sits entirely in the 0% marginal cap rate bracket, or am I confused? I'm starting to fear that l.t. cap gains brackets(83,350 for 2022 joint, 94,050 2024) are total income triggers, not "amount of cap gains" marginal amounts. So in this twisted interpretation, total income jumping from 80 to 89K passed 83,350 so instantly 15% of ALL gains got slammed? That violates every principle of marginal taxation. If that's true, you could construct an example with a $2.00 income delta producing thousand of dollars in delta tax. Really??

You've done some great analysis, well qualified (a better word than disclaimed, e.g. "keep in mind that this is only measuring..." or "this may be adversely affected by..."). Good work. I wonder about the Smile, You say a decrease of 1% per year, but inflation is more than that, so I was stumbling over whether the 1% is "after" or additive(I know you attempted to reference that very point).

Another proposal to keep Social Security solvent is to raise the combined SS tax to 17%

Good and bad about the plan. We need a successful business man in the white house 😁

Thanks Nick!

Al Gore kept insisting "your socal security money in Safe in a Locked Box!" Yeah, about that locked box? I remember that, I started working in 1979 and the FICA,Went up from 4%? I was making $3.25 p hour!

It would put more money into the economy.

How do most of you guys still make profit? Even with the downturn of the economy and ever increasing life standards

If my ex got remarried in her late 30’s then was married for over 10 years to a deadbeat who didn’t work while living on my kids child support and settlement, can she still be getting half my ss benefits if she divorced the deadbeat before 60 even though they’re still living together and only divorced to collect ss from both their ex’s?

Fanum Tax?

I live in Florida. Retire in April, go to Ohio in the spring, leave Ohio before it gets cold again. 😮

Very empowering, thank you. If the ex-wife (homemaker, married 16 years) have a pension from her ex-husband's work after divorce, will her Social Security amount be reduced?

Absolutely love your channel... Thank you. If anyone has more interest in the various ways we can be scammed, I'd encourage them to do a Google search on Roger Grimes. Roger has been in the computer security industry for over 30 years and has got a wealth of insights that he shares on UA-cam and other venues. Thank you again for providing such great information via a fantastic mix of videos and podcasts!!

I was married for 11years.Is a divorce decree of spousal support that is currently coming out of my paycheck, does that still come out of my Social Security check? I turn 62 tomorrow and am considering retiring early and working part time, but I can't do it if my spousal support is still valid. She has been drawing SSA since age 63, she is currently 72. Her benefit is way less than mine. If I draw ss benefits, and she claims my benefit, I'm wondering if that will satisfy the divorce decree of spousal support, or does SSA nullify the spousal support order?

Thank you

Thank you

Take it at 66, if you are still working. Invest it or pay off debt, if needed. Don’t forget you have to pay tax on this income, too.

65 still working at a job I love, not drawing social security yet and not touching my IRA Account yet. I almost started drawing social security at 62 and was going to keep working basically because I had that mind set it's my money and what if I die. But then I realized unless you are in bad health which I am not you have to plan like you will be here until age 90. So that is what I did and I am so glad I did that. Social Security would have been $1,900 at 62. Now at 66 it will be $2,900 (the C O L A S helped too). A $1,000 a month increase just by waiting. And the IRA continues to grow too.

I’m still working and taking social security stack it deep age 69

I love the guard rails. It is exactly my philosophy. For instance, I have managed my mother-in-law’s money and our philosophy is to make changes in our strategy to spend more when times are good and to spend less when they are not. I love having software that provides that does the same. Makes sense.

I know that it is a big challenge to make these podcastS but they are very helpful and they give me 😢😢 confidence in your methodology. I am One of your new clients and I have done a lot of research and tried different financial planners. And you are are on the right track.