Відео

At 70 they are going to spend more than they earn after tax today?

100? LOL, we are not living longer, an average male lives to what 77?

I'd love it if you did a video on first time home buyers. My son would definitely benefit from it, thank you John!

Thanks for providing the link to the list. Interesting to sort the list by the different categories. Hawaii gets #1 for weather and well-being!

Love California, but it definitely is expensive!

top earners income fell dramatically during COVID while the bottom 90% got subsidized so it is not fair. Not fair for the top 1%.

I was waiting for the net worth discussion which was promised in your title, but net worth did not appear. Assets and net worth are true indicators of wealth, not income.

Great overview, thanks for the information.

Next video will you tell me how to get into the top 0.1%????

Retired at 60, started SS at 62, love those monthly checks. PS - now 75.

A lot of good points! There isn't one right answer. Everyone has there own reasons to claim social security benefits at different times.

So much information about when to claim Social Security. A lot of these reasons make sense to me especially the 'enjoy the money while your young' part!

Love the info. Starting to receive some of these scam messages myself and have almost fell for them.

Thanks for the info! This will help to stay more alert

Great information! I just signed up for ID theft protection.

Getting real for sure! Thanks for the heads up

Need to stay alert! Scams are everywhere today. Thanks for the updates

Thank you. This always confused me.

Great video and easy to understand!

Love the video, thanks for the explanation.

Thanks for all your great content in 2023!

Great video! Thanks for the information

When Sabertooths roamed our patch of the woods, loss aversion was more beneficial but not so much now.🙀

Is the strategy the same if you are single?

Hey John , really nice video! I was wondering if I could help you edit your videos and also make a highly engaging Thumbnail which will help your video to reach to a wider audience .

Thanks. I exceed the $1,000,000 threshold but in three different plans. Oh well, add one to that number

It’s all relative….

Thanks for the information. Great video!

My 100% paid off house is my long term health insurance

lol All I had to do was read the title...starting over at 62...I think this goal is impossible at least for me. Life happens and I lost everything, my plan was there, but not strong enough! you never know what life will bring you. I don't mean to be a downer, I just had to laugh.

Interesting to see you actually go through a plan. Thanks for the video

Thank you for all the tips! So helpful.

Great video! Thank you so much for the info!

Hey john , really nice video! I was wondering if I could help you edit your videos and also make a highly engaging Thumbnail which will help your video to reach to a wider audience .

When you lose that feeling that you want to punch out everyone then you knows its time to retire or you're getting too old. That's what happened to me.

Psychologiically, t's hard to make the transition from 50-60 years of earning, building your net worth, planning for the future to going to decreased income facing entering having to actually having to use some of those funds. May seem silly but going from productive earner to that of spender is hard.

Thanks for the time you spent creating this excellent video. Much appreciated!

Thank you, John

You have saved enough to retire. How to know it is enough ? what are the figure ?

I am taking mine at 64 to 65 being the higher earner. Stopping work at 58. Will live on cash, dividends and soon after IRAS as they will open up to us without penalty. At that age and with stopping work early I will have 37 years in the system. So 2 lower years overwritten for SS benefits. My estimated PIA is going to cover all our base household expenses even taking it early. So everything we want to do above that will come from investments and provide us with plenty of cash to burn. Also when my wife turns hers on a few years later, it will be easy street. We are also ok when 1 of us dies and go back to 1 benefit amount with the lower expenses that will also come with that, i.e. Half the medicare costs, half food costs, half insurance on cars, etc. Taxes may be a little higher being a single household at that point but that is nothing to worry about. 3 to 6 K swing in tax costs every year do not make or break the numbers. So getting out a bit early to do more of the things we love.

I'll start the comments section to get things rolling. Agree with the points except one. No debt. Retirees should not have a mortgage IMHO. Unless you are just loaded to the gills as they say, then don't have another cost to add to every month. This is key for most retirees to live the good life. Definitely time and health are the enemies here. So getting people to realize that you have to do some things before 50 and 60 or you will never be able to do them is a change in the current perspective most people have in this country. Everyone that does save for retirement does so thinking once I retire, we will finally be able to do all the things we want and that is not the case. So do those things while younger and plan to do other things when older. Cheers !

Nice discussion, we have retired over the last 2 years, and are helping out our elderly parents with $! If wealthy, take early and invest. If more modest wealth it gets very complicated, and should definitely consider delaying one check. On average most people take too early!! Poor people need to wait!! I say the latter because I spent my entire life working with the elderly in the healthcare industry. Way too many people took their money at 62. The ended up poor and old, which is way worse than young and poor because you have no options! So many younger people think “why worry about being old, I’ll just be peeing on my self anyway”, that just isn’t true for 95% of the elderly! Also remember that you can retire and not take your check for a while, with planning it is not that hard, certainly for one person in the couple. There is plenty of research that shows for modest portfolios, delaying and spending the portfolio IS NOT WORSE than taking early. We had 4 parents who took early at 62, for all of them a really bad decision, as they all lived to at least 86, and were always low income, and barely scraping by. Us kids had to help both couples, and still helping our moms. We never expected an inheritance, but also not a need to help them(we gladly do it as they were good parents), and it is in our retirement budget 😮

I see so many UA-camrs focus only on age and taking SS as early as you can but one has to look at one’s debt, savings if they have some and also consider Medicare doesn’t kick in until 65. Most people with a decent career are also in their peak earning years right before retirement.

I suspect most people that take SS at 62 don't invest the money. If you continue to work and you haven't reached your FRA, you can't make much money before SS payments stop (somewhere around $20K). If you have the ability (i.e.: finances) to wait, wait as long as you can. This is especially true if you are the higher earner of a married couple. If the lesser earner of a married couple outlives the higher earner, the lesser earner receives the SS benefit of the higher income earner. You should really factor in the lifespan expectations of both partners in a marriage. Today, it is very likely one or both will live past the breakeven point -- again, this is if you can figure out a way to finance your living without collecting SS benefits until a later age, perhaps 70.

Great video! Thanks for the information!

We are coming up on this timeline (4 years). We will be retiring a bit early, I will be 57 my wife will be 55. I'm torn on the SS and pension timing. It seems to me since SS and pensions die with us it would be better to use those and allow our savings/401k/IRa's more time to increase, leaving more for our kids? I don't really get the penalty for having income while claiming SS, I've heard that only applies to working income, rental/dividend income does not go against you?

General advice from me........ take Social Security as soon as you can. "Full" benefit age is very close to average life expectancy. Hopefully someday we can retire Social Security and allow the American people to invest their money how they want instead of being forced to put it into this ponzi scheme. The lucky ones were the counties there originally opted out....... off course, Congress quickly knew their scheme would fall apart so they changed the law to eliminate the opt out. If people were able to do real investing with this money and if we weren't taxed so much........ well, most Americans would be millionaires around the age of 50. Of course, politicians don't want this. They want people dependent on their programs so they retain power and can promise things for votes. I wish my fellow Americans would wake-up and demand we fix things.