That's what I did. Just retired with this year in my mid 40's, having grown my investments (Roth, IRA, etc.) to multiple $Ms. It can be done but just takes discipline. The people only just realizing in their 40s that they're behind are gonna get steam rolled hard.
yep. compound interest. i regret not doing more. front load as much as you can when you can. You will most likely get laid off, move, kids, etc. Put money in when you can to make up for gaps.
Yep. 40s is too late to start thinking about retirement planning, despite some people saying it's never too late. The sooner you get out of any bad debt you have and start saving/investing, the better off you will be when it comes to retirement. I started saving/investing for retirement in my early 20s when I graduated from college.
I don't think it's necessarily a disagree or agree thing. Both can be true. Think of it like a race. You are at the start line and you have to get to your retirement number. You are 100 percent correct that the person who starts at 20 will have an easier time. Compounding will work for them and they may have 4 or 5 decades before they retire so they have a long time to run the race. They may not have to be pedal to the metal the whole way, they can stop and smell the flowers while they run the race. Someone in their 40s who starts the will have a much harder race to get to their number assuming all else equal. They may have 2 to 3 decades so they would in fact need more focus. They have less time to compound and invest so they can't afford to take as many breaks. So yes I agree. Starting earlier is better. But the fact is not everyone does so I also agree with the video. If u are in ur 40s and have nothing saved, well u can't go back in time and change that. So in that case what you should do is really buckle down, focus and hit that race hard.
An increasing number of people are likely to face challenges in retirement. Low wages, rising inflation, and high rental costs make it difficult to save adequately. Now, even middle-class Americans are struggling to afford homeownership, putting their retirement plans at risk.
The surge in living costs has disrupted my plan to retire at 62, work part-time, and continue building my savings. I can't help but wonder if those who weathered the 2008 financial crisis had it easier than what I'm facing today. The volatility of the stock market, paired with a decrease in income, has raised concerns about whether I’ll have enough funds to secure a comfortable retirement.
This is exactly why I rely on a portfolio coach for my investment strategy. Their expertise-managing both long and short positions, capitalizing on asymmetric risk, and strategically hedging against market downturns-makes it incredibly difficult for them to underperform. Over the past two years, working with a portfolio coach has helped me generate over $800,000 in returns.
I consistently recommend Rebecca Lynne Buie as my top choice. She is well-known for her expertise in financial markets and has an impressive track record. I highly endorse her services.
This is extremely bad not just in terms of retirement savings. In our 40s, many of us are going to experience age discrimination so the option of working longer might not even be on the table the older we get.
I'm hoping to retire next year at 55. My goal next year is to be more serious and consistent with my investments I've been investing since I was 22. 2025 is going to be more serous for me investing consistently for the long term. starting to save for a house down payment. I want to invest more than $105k, but I'm not sure on how to mitigate risk.
Its unclear which stocks and sectors will lead the market in the next uptrend. It is advisable to diversify while retaining 70-80% in secure investments. looking at your budget, you should consider financial advisory.
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
I have worked with a few financial advisors before now but i ultimately settled for 'Annette Marie Holt'. She is SEC regulated and licensed in US. You can easily look her up
I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
The best thing my husband and I have ever done besides having our children is starting 18% retirement right out of college and never ever touching that. At age 42 our retirement accounts are over 1 million. That was money we never missed because we never built a lifestyle using it. You can’t make up the multiplier you get on money invested 40 years before you retire. Each dollar does so much more work for you so that you don’t have to save as much.
I came across an article that highlighted how Americans in their 40s are the least prepared for retirement. Honestly, it makes sense-this stage of life is often consumed with responsibilities like mortgages, raising kids, or managing debt, so retirement planning often gets overlooked.
That’s a good point, but the 40s are also a pivotal time to start making progress if you’re behind. You still have around two decades before retirement, and with consistent effort, compounding can work wonders for your savings.
Our life come in stages. It sounds ridiculous that retirement planning needs to start in our 20’s but that’s a real lesson that will eventually become clear in our 40’s. Unless you seek this knowledge or someone told you about this when you were in the process of adulting, you will find yourself clue less and bewildered when you turn 40. Compounding takes time and for regular folks our 401 K and 403 B’s is our prime vehicle for a well prepared retirement. Time is slow. Time is like the sun that comes up every morning. It’s always there. Thus it gets ignored for almost all our lives until we become old and feeble. Then time looks at us and it’s all we think about. Save early. Be frugal. Marry the right person. Make health a priority. Love your family. Work with purpose. Sit back and smile.
@@loungegossip4236 I agree. When I entered my 40s I was not in a good financial position. I've just turned 50 and I'm in a much better position now. Good luck to everyone trying to get ahead.
You are spot on. I just helped my two teenage kids open Roths with Fidelity and they are investing in Index funds. Small amount now but time is a huge factor when investing.
Yes, both of my kids worked through high school and contributed to their Roth IRAs. They both finished high school with over $20,000 saved. They also worked in college and continued to contribute. They need to see the steady growth and power of compounding.
I was reading this article that said Americans in their 40s are the least prepared for retirement. It makes sense when you think about it. Most people are busy with mortgages, kids, or paying off debt, so retirement planning takes a back seat.
That’s true, but the 40s are also a crucial time to start catching up if you’re behind. You still have about 20 years before retirement, so compounding can work in your favor if you’re consistent.
Exactly! I learned the hard way. I didn’t start saving seriously until I was 42, and I realized how much I was leaving on the table. Now I max out my 401(k) and put extra into an IRA. Better late than never, right?
That’s where working with a financial advisor, like Joseph Nick Cahill, makes a huge difference. I Googled his name and saw he’s highly rated. I decided to work with him, and honestly, it’s been life-changing. He helped me organize my finances, reduce unnecessary expenses, and map out a realistic retirement strategy.
Oh, I’ve heard of him! Didn’t someone leave a testimonial saying he helped them double their retirement savings in just five years? That’s impressive. Having someone like that guide you ensures you’re making the right moves instead of guessing.
Absolutely. Joseph even showed me how I could invest more aggressively now to build wealth, then transition to safer options closer to retirement. It’s not just about saving but knowing where to save and invest. I recommend him to anyone who feels stuck or overwhelmed.
The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow my savings, which I've managed to set aside separately outside of my retirement accounts, but have depleted over the years?
Don't navigate retirement planning alone. Consult with a financial advisor. They can create a tailored plan, optimize investments and taxes, and ensure sustainable income. I partnered with Monica Mary Strigle, a NY based fiduciary and achieved remarkable growth: 120%+ in 11 months!
@richarddamien Impressive! Just looked up Monica Mary Strigle and found her consulting page. I’ve got to say her credentials are truly impressive! I've scheduled a call to discuss further. thanks for sharing
@@richarddamien4654 Hi what is the fee you are charged for the services offered, did you pay any upfront fees for consulting? Because I just set up a consult and I am not sure what to expect back.
@richarddamien Hi what is the fee you are charged for the services offered, did you pay any upfront fees for consulting? Because I just set up a consult and I am not sure what to expect back.
That’s why it’s easier to focus on retirement planning in your 20s. Your income may be lower but your expenses can also be low if you don’t have kids. Then by your 30s you can focus on other priorities since you’re ahead on saving for retirement.
It depends. I struggled to get by in my 20s and didn't make enough to save for retirement. Realistically, many people aren't in a position to save for retirement in their 20s or even 30s, with or without children or a college degree. Many just need to focus on living within their means and paying off debt so they can save for rainy days, including retirement.
This lady has a short-term economic struggle. As soon as her kids move out, she could sell the home and do a major downsize but psychologically, people seldom want to choose to have less.
If her kids move out. Kids today seem to linger on and even if they do move out most of them still rely on their parents for partial financial assistance
In my 20s I was told to pay myself first. I asked how, and was told to invest in my workplace 401k plan. So I did, and now when it comes to retirement, I won’t have to worry about it like most people who decided to consume instead of invest.
Same here. I got over $1.2M in retirement assets. I will work another 20 years I suppose. The greatest thing is that the compounding compounds larger as you get older. It's great to see that your investment returns exceeds yearly salary.
I retired at 52 and honestly, I wish I’d done it sooner. The 9-to-5 grind always steals your freedom for a paycheck that barely scratches the surface. My advice? If you’re in your late 30s or early 40s, start saving for FIRE now (Financial Independence, Retire Early.) And if you’re in your 50s, invest smartly and break free from relying on your job. Market trends, like the Trump Effect, have made millions for many, including me. Stay focused, stay consistent, and remember financial freedom is within reach if you make it a priority.
Working with Lorrie Greta Hillard , a financial advisor, was a game changer. She helped me refine my savings strategy, including retirement planning, and provided expert guidance on investments and budgeting to maximize my savings.
If you waited til 40s (or 48 as the woman in the video) you’re in trouble. I’m 42 and was told my entire adult life to save SOMETHING no matter how small you start. 1-2% to an employer sponsored plan in your 20s and grow the contribution a bit each year/each promotion.
I have brokerage accounts for my 7 year old and 3 year old. Once they get jobs i will open a Roth IRA and tell them they need to put 10% in that every check. Teach them and set them up young for a lifetime of success.
Community college and part time work for the kids to get into college. Maybe military service to pay for it. I was lucky to live near a major university so lived at home and bankrolled tuition. Chose a field that allowed a proper career path.
I plan on working to a least 75. Maybe not full time but definitely part time. I think this all 65 thing is BS. I think if you can work you should. If you find something your satisfied with it should be no problem.
It’s astounding to me that personal finance, future financial planning and or retirement planning is not taught at any school K through college. It should be required that every student take a course on these subjects, managing a bank account, managing credit and at a minimum, the benefits of a 401K, a Roth IRA and or an IIRA. Starting young is key. Your retirement planning should begin the day you start your first job. Here’s some free advice. Never finance a new car. Wait until you can pay cash. Financing a new car will have you following the yellow brick road not to Oz but to poverty.
Imagine how much people would better be able to prepare for retirement if we just had Medicare for all? All the stress of healthcare being taken away would allow people to prepare for so much more. Sadly, wealthy oligarchs like donny and musk will never allow this to happen.
@@JB-pl1iu The stress reduction alone for the average American would improve health and prevent worsened outcomes. Of course, the 'health care' system can't profit off of that. Keeping us sick and bleeding us dry is what keeps them rich.
Free stuff at the expense of more taken out of my paycheck does not help anyone. Already have 12.4% of my income going into SS plus 2.9% into medicare/aid...on top of my actual income taxes. Pour even more govt money into the hugely profitable medical system and see how broken it gets. It wasn't until I began saving more for my own retirement that I got truly angry at how much is taken from me to benefit folks that count on the govt to look out for them.
The problem with parents with special needs children can’t save money in their youth because all their money goes to their child’s health and services. Then careers/promotions fall behind because they have to take care of their child. Then when they get old there is no child to take care of them AND retirement savings went to supporting the child after the parents are gone so they never get a chance to retire. The US government should really do something to assist these families in this situation at no fault of their own.
For the younger people out there, one way to sidestep this situation is joining the military. My wife and I have both been in 15.5 years now - 4.5 years left. We will both get a pension and VA disability (read: more money) for LIFE. Our (2) kids both have inherited our GI Bills, so they will both have 48 months of school for free (read: no student loan debt). We lived beneath out means with only $10K auto debt between both of us, allowing us to save a massive (50%+) down payment for a house as we approach our final assignment this year. That will enable us to pay our house off in under 10 years. Completely free medical care while active duty and less than $1000 for the entire year once retired. Many more perks than this, but these are the big ones. Yes, the military will have you moving every 3-4 years. You won't have "control" over your life. You won't really be able to buy a house and settle down until the last 4 years. Ask us how we know. That said, things worth doing are worth waiting for, and at 43 and 38, we can vouch for that as we are about to move to our final assignment and transition out of active duty. It was all worth it.
Good for you but as an American I can’t in my good consciousness approve of how we deliberately meddle and disrupt other nations, with the current war in Palestine, but previously Iraq and Afghanistan where we had no business to be there. I know the military vets always complain and their ptsd for their wrongdoings is apparent so not sure what to think. America first, not Israel, not tycoons looking for oil in the Middle East, America. Billions to ki lll kids in Palestine but none for people affected in floods and fires or medical at home. Again good for you, not the route I’d take or anyone I love take.
Borrowing from her retirement was her biggest mistake. You got to put your own oxygen mask on first. Lost compassion when she said she took out the 100k.
I guarantee that with the big war and economic collapse that will happen in the next 5 years, the last thing you will ever be worried about will be retirement
By 40 you are 15 years too late. You also pay yourself first not your children’s college. When you have a nice nest egg you then contribute to a college plan or do that at the same time. Your kids don’t want to pay your bills because you don’t have enough.
Why pay for your kids tuition? Invite them to start saving themselves. Encourage them to go to more affordable universities. I'm doing the same job with coworkers who went to top universities, only difference is I'm not in debt. I plan to have some money set aside for when they really need financial help in college, but I wouldn't put it in their minds that I'm paying their tuition. Heck no.
I agree with involving them in the saving process, but it is also unrealistic to expect them to be able to afford the current and especially future cost of college all on their own. My main reason for investing now are the benefits of avoiding loan costs and the tax advantages of a state 529 account.
My wife and I live (very) comfortably on $2,000 (-$184 for Medicare) social security. We bought an old sailboat for $10k and live aboard fulltime. No rent, mortgage, utilities, taxes, or car payments. We sail the Bahamas, Caribbean, U.S., Mexico and Panama are in our future. We save close to 50% ($900) of our monthly income on average. Sure, there's a retirement problem in this country, but there's also an entitlement problem - everyone believes they should be living luxuriously. It's just not necessary.❤️
@Logan8x says who? I have excellent coverage, both parents are 90 and in good health, 8 siblings all in good health. Besides, I mentioned how much we save and invest. You live your (societal) reality, I'll live mine.❤️
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Everyone should have BTC in their portfolio
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Robert! Imagine i invested $50,000 and received $190,500 after 14 days
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Robert L Cox.
If you have children, start a college savings ASAP. I started when our daughter was a toddler and it paid for her BA and MS. Buy a good car and take care of it. It will last over a decade, easily. And don’t fall into the trap of constantly being in debt because of a vehicle.
Problem with american education is it fails to teach kids how to budget and invest. Warren Buffet said it best, " compound interest is the 7th wonders of the world".
That's not a problem. Budgeting is an individual responsibility and you can't invest in anything until you are an adult, meaning after you graduate high school and not everyone cares about investing.
I started investing at 18. I'm 50 now and I'm so glad i invested early. I travel full-time with my husband and three highschoolers while homeschooling. I set up roth iras for my kids years ago and continuously teach them about how the economy and money works. Ive taught them fire principles and know as teens, any money that comes in they save 80% and once they work full-time and have bills, to keep it to at least 50%. They're so sweet. The told me when im old, the will give me money. I told them i have plenty of money. I just need them to stay out of debt and trouble
Saving for Retirement should start at 21, and Finance 101 should be a MANDATORY subject in Middle & High School curriculum - so folks know what they're getting into BEFORE getting a College Loan.
Right and parents should help. Don't let your kid go for something that doesn't have a ROI, and do not let them bury themselves in debt. Student loans should not be used for Starbucks and designer cloths to end up with a degree you can not pay back.
@@donnavannostrand4139 idk your specific situation. But bitcoin has gone up 60% a year on average. That's means if you put $1,000 in now, and added $500 a month, you could retire before age 70, and have about 50k a year to live on til you're 90. Idk about you, but that sounds a lot better than working til you die.
@@donnavannostrand4139 why? I just plugged some numbers in. If you started putting $500/ a month in now, you could retire by age 70, and have 50k to live on til ur 90. That sounds a lot better than the alternative!
The first thing I did my first “real” job out of college is sign up for that 401(k) program! Took a LONG time to feel like I was making any progress, but I kept with it through good times and bad! Now, having just turned 60 I am glad I did - another couple of years and the boss gets his upraised middle finger………🥳
We have a retirement system designed for people who are married to stay married and retire together and share expenses its not designed for one person to go it alone we are starting to see the consequences of that. Be prepared for getting a roommate or cohabitation in the future you are not going to get what your parents and grandparents had.
exactly, single living will be a luxury for the median person. This lady is gonna be broke, you are running a non profit, you need to make a profit if you don't want to be broke at 65 lady.
You don't have to retire, if you don't stay busy and social you deteriorate in mental and physical form. I Know of 60 year old hispanic landscapers stronger than me
Too far away is the best time to start. To have a million at 65 you need to save based on a 8% return. Starting at 18 save $175 per month. Starting at 25 save $300 per month. Starting at 35 save $700 per month. Starting at 45 save $1,700 per month. Starting at 50 save $3,000 per month. Starting at 55 save $5,500 per month (ouch). Starting at 60 save $14,000 per month. Never ever ever ever touch it. Take the employer match 100%.
All I can say is to start early. Compound interest is our best friend. As a 43 year/ husband 46. We started to invest when we started our first grown up jobs right after college. Granted luck maybe on our side, consistency is the key, no matter what the market is doing. Believe me anyone can do it. Little bit at a time, don’t stop and won’t stop.
My parents, grand parents, in-laws all had successful retirements. I'm 38 and on track to have a very successful retirement. It is possible to retire if you put an effort into it. The reason why American's cant retire is because of their high car payments $750 average payment so they can sit in the Starbucks line. You should put more in your 401k than your car payment is. Your car payment should never exceed your credit score number. Number 2 reason for 401k loans is vacation. I know this all seems crazy but it is reality.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my inherited portfolio of about $2.5m. I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.
True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Credits goes to " Izella Anette Anderson " one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
I knew a divorced woman with two young kids who did the same - she took from her 401k to pay for.a new house. She was really promiscuous too. Divorce laws already favor women - she's probably getting money from her husband to take care of her daughter in that house too. Video's like these are so biased.
People in their 20s need to focus on investing, and not spending on cars, vacations, Botox, Lululemon, crazy weddings….then they won’t be these broke 40 years olds…I’m 34 and worth $1.2m because I live below my means, wild concept right?!😂
Best thing my parents did was open a Roth IRA for me right before I went into the Military. Retired at 44. Now I have that added buffer for later in life. Planning is key. You have to have the disicipline and forsight to follow it through.
So many people are living check to check when they have leverage themselves so deep. Bigger homes, more expensive cars and they are one check away from ruin. I definitely understand the divorce part having gone through it myself a few years back but I’m not going to eat Ramen so my kids can have a great life and I can’t survive. They just have to understand that things have changed we need to readjust the rest of our lives. Parents aren’t obligated to pay for our kids college. Maybe they can work and go to tech school and get a job and go to college later. We all have to make some changes.
Hahahahahahahahahahahahhahahahahahaha? The retirement money that will be wiped out as soon as they get sick because we have no Universal Healthcare. Hahahhahahahahahhaha.
The vast majority of "workers" will be pushed out of their careers in their early 50s. You can do everything right, it won't matter. So most of us need to plan for exiting the most profitable stage of our lives at that time. They will never tell you this. 😂
I was forced out of my job of 34 years at age 58. It was a physically demanding job. Good pay. They had a way of “encouraging” early retirement without breaking the law. It was very rare for anyone besides upper management make it to 60 on the job. Fortunately my company had an outstanding profit sharing program. And I was always a saver. Retired a multi millionaire. Life is good.
My grandfather worked well into his 80s. But he found a job that he enjoyed. And I know folks who retired in their 60s and 70s who are bored out of their mind, and spend all their time reading about conspiracy theories online. As long as I am healthy I plan to follow some version of my grandfathers plan to stay active and mentally/socially engaged.
Just my 2 cents, but folks would have a lot easier road to saving for retirement if the federal government wasn't bleeding them dry. Not to mention the self-inflicted inflation. But, if you have kids I don't think it's a bad idea to let your children know that they are going to be responsible for at least some of their education cost. Just my 2 cents, I don't think a college education is worth what it was 20 years ago - especially with the ridiculous cost of tuition now. I say this as someone with a college degree, too. I think the trades are a much better avenue. There is such a shortage of tradespeople that a lot of companies will offer to pay for your training and sometimes pay a small salary while you train. You usually have work for them for 3 - 5 years afterwards...but how great is having a high demand, high paying job with no tuition debt? That's the way I'd go now if I were 18.
As a 60 year old I will say save early and often, if you haven't already started in your 40s, get busy. I had some tough times in my 40s and 50s but should have made some sacrifices to regularly contribute even small regular amounts.
This sounds easy in theory, but a lot of people cannot afford to defer a sizeable portion of their paycheck to retirement. A lot of people work jobs that don't offer a retirement plan as well
Don't think that. You can do this. Start today though, not next week or next month, today. Open up a Roth IRA and invest in index funds. Set up regular automatic contributions and never stop.
@@schawnettarobinson8584 .. ok that’s a bit different. I understand that can happen. Don’t give up though, formulate a plan and don’t quit until it works out. Nothing easy is worthwhile.
Agree. My sister likes to say to me “what if you die before you can spend all that money” to which I try to explain to her the joy I get every day simply from knowing I’m financially secure and don’t have to worry.
Retirement in 2025 for the common worker is an illusion. It won't happen, there's not enough money left after bills. Unless you own your own business, have multiple jobs, or earn a very high income with 1 job, your more than likely not going to be able to retire. Most of us will have to work up until the day we die.
Start investing in your teens and 20s to build the habit for when you make good money. Parents should be starting custodial accounts for their children. Starting a 40+ with children is a recipe for failure.
Don’t listen to the economist named Teresa. You’re not destined to do worse than your parents or grandparents. You can build up your retirement fund. Sacrifice now. Save frequently now. If that means you have to work a side hustle, do. But Teresa was a negative Nancy in this piece. Don’t listen to losers.
I feel so warm and cozy knowing all the money I lawfully and responsibly paid in taxes for Social Security will never be returned to me and basically stolen by corrupt politicians and a completely inept and financially irresponsible federal government. Such a beautiful and benevolent Government, am I right? Why on earth would anyone want to dismantle it? RIGHT?!
And yet she’s driving an expensive car. She’s overestimating how long she has to fix this. One you hit 50, you are in a whole different realm employment-wise. I would not want to be not prepared by that age.
On the other hand, any medical crisis in your life, and you could easily go bankrupt...medical debt is the leading cause of bankruptcy. You will never save enough to pay cancer bills...if you get cancer you may survive but may well be financially ruined the rest of your life (medical debt, loss of income as you don't have any protections to keep your income). May as well enjoy life when you can.
I soon enter the 40s and have been getting the retirement accounts planned out to be on track or better based on my income and future. The year I am 40, be nice to have $250K among accounts although it will be a stretch to get there.
40's are too late to focus in it imo. But imagine what those in their 20's and 30's can do with the way rents and new mortgages, child care, etc are like?
We’re not doing worse than my parents and grandparents! We are blowing them out of the water! Part of that is due to a healthy military pension and far more education. We are the first generation to graduate from college. Then we continued on and received masters degrees. We learned about financial education and made better choices early on. I expect my kids to far surpass my husband and I financially too. They are starting a place of privilege.
Great video, one that folks really need to watch. I' m 50, retired a while at 45. 1 have 35% of my capital invstments in an IRA. 25% in index funds, and the balance spread across other investment accts. in cumulative of over $ 5M. I receive income from my rental properties too. Zero debt and all is going accordingly. My financial consultant has been patient and has done a wonderful job for me throughout the years.
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
Financial planning and retirement strategies are crucial, especially in today's economic climate. With global economic fluctuations and uncertainties, it's essential to have a solid plan in place to protect your financial future.
It's crucial for individuals to diversify their portfolios, seek professional financial advice, and stay informed about market trends to navigate these challenges effectively.
Please could you guide me on how to get in touch with your advisor? My funds are being eroded by inflation and I seek a more lucrative investment strategy to effectively utilize before I consider retirement
I just turned 44 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I'm getting worried about retirement, my intention is to retire at How best do l maximize my savings of over $220k
I started contributing at 25 and I’m honestly worried that I won’t have enough for retirement. 😭 Low income for a household of 1 in my county is currently $84k. I still have almost 3 decades left til retirement…
You don't plan for retirement right before you retire. You plan for retirement your 1st day on the job.
Smartest thing said.
That's what I did. Just retired with this year in my mid 40's, having grown my investments (Roth, IRA, etc.) to multiple $Ms. It can be done but just takes discipline. The people only just realizing in their 40s that they're behind are gonna get steam rolled hard.
YES
I started my kids in high school. They both worked and opened Roth IRAs.
Exactly
Don't depend on your kids for help later in life. They'll be too busy with their own life problems.
Sadly that's a big reason people have children
Hispanics take care of their elders
@@josebautista7311yes some cultures still do. Hopefully if all family members including spouses are on the same page. 😬
Agree with this. 👍🏼
Not everyone
I disagree.
Depending on income, people should start retirement planning/investing in their 20’s with at least small contributions.
yep. compound interest. i regret not doing more. front load as much as you can when you can. You will most likely get laid off, move, kids, etc. Put money in when you can to make up for gaps.
you need 1M likes for this, I swear the media does the best it can to miseducated people about finance
Yep. 40s is too late to start thinking about retirement planning, despite some people saying it's never too late. The sooner you get out of any bad debt you have and start saving/investing, the better off you will be when it comes to retirement. I started saving/investing for retirement in my early 20s when I graduated from college.
Agree 💯
I don't think it's necessarily a disagree or agree thing. Both can be true.
Think of it like a race. You are at the start line and you have to get to your retirement number. You are 100 percent correct that the person who starts at 20 will have an easier time. Compounding will work for them and they may have 4 or 5 decades before they retire so they have a long time to run the race. They may not have to be pedal to the metal the whole way, they can stop and smell the flowers while they run the race.
Someone in their 40s who starts the will have a much harder race to get to their number assuming all else equal. They may have 2 to 3 decades so they would in fact need more focus. They have less time to compound and invest so they can't afford to take as many breaks.
So yes I agree. Starting earlier is better. But the fact is not everyone does so I also agree with the video. If u are in ur 40s and have nothing saved, well u can't go back in time and change that. So in that case what you should do is really buckle down, focus and hit that race hard.
An increasing number of people are likely to face challenges in retirement. Low wages, rising inflation, and high rental costs make it difficult to save adequately. Now, even middle-class Americans are struggling to afford homeownership, putting their retirement plans at risk.
The surge in living costs has disrupted my plan to retire at 62, work part-time, and continue building my savings. I can't help but wonder if those who weathered the 2008 financial crisis had it easier than what I'm facing today. The volatility of the stock market, paired with a decrease in income, has raised concerns about whether I’ll have enough funds to secure a comfortable retirement.
This is exactly why I rely on a portfolio coach for my investment strategy. Their expertise-managing both long and short positions, capitalizing on asymmetric risk, and strategically hedging against market downturns-makes it incredibly difficult for them to underperform. Over the past two years, working with a portfolio coach has helped me generate over $800,000 in returns.
How can I find a trusted financial planner like yours?
I consistently recommend Rebecca Lynne Buie as my top choice. She is well-known for her expertise in financial markets and has an impressive track record. I highly endorse her services.
bot
This is extremely bad not just in terms of retirement savings. In our 40s, many of us are going to experience age discrimination so the option of working longer might not even be on the table the older we get.
I'm hoping to retire next year at 55. My goal next year is to be more serious and consistent with my investments I've been investing since I was 22. 2025 is going to be more serous for me investing consistently for the long term. starting to save for a house down payment. I want to invest more than $105k, but I'm not sure on how to mitigate risk.
Its unclear which stocks and sectors will lead the market in the next uptrend. It is advisable to diversify while retaining 70-80% in secure investments. looking at your budget, you should consider financial advisory.
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
Being heavily liquid, I'd rather not reinvent the wheel. Since this strategy works for you, how can I contact your advisor?
I have worked with a few financial advisors before now but i ultimately settled for 'Annette Marie Holt'. She is SEC regulated and licensed in US. You can easily look her up
I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
The best thing my husband and I have ever done besides having our children is starting 18% retirement right out of college and never ever touching that. At age 42 our retirement accounts are over 1 million. That was money we never missed because we never built a lifestyle using it. You can’t make up the multiplier you get on money invested 40 years before you retire. Each dollar does so much more work for you so that you don’t have to save as much.
S&P 500?
I came across an article that highlighted how Americans in their 40s are the least prepared for retirement. Honestly, it makes sense-this stage of life is often consumed with responsibilities like mortgages, raising kids, or managing debt, so retirement planning often gets overlooked.
That’s a good point, but the 40s are also a pivotal time to start making progress if you’re behind. You still have around two decades before retirement, and with consistent effort, compounding can work wonders for your savings.
Our life come in stages. It sounds ridiculous that retirement planning needs to start in our 20’s but that’s a real lesson that will eventually become clear in our 40’s. Unless you seek this knowledge or someone told you about this when you were in the process of adulting, you will find yourself clue less and bewildered when you turn 40.
Compounding takes time and for regular folks our 401 K and 403 B’s is our prime vehicle for a well prepared retirement.
Time is slow. Time is like the sun that comes up every morning. It’s always there. Thus it gets ignored for almost all our lives until we become old and feeble. Then time looks at us and it’s all we think about.
Save early. Be frugal. Marry the right person. Make health a priority. Love your family. Work with purpose. Sit back and smile.
@@loungegossip4236 I agree. When I entered my 40s I was not in a good financial position. I've just turned 50 and I'm in a much better position now. Good luck to everyone trying to get ahead.
High school students with part-time jobs should set up Roth IRAs and invest in low-cost stock index ETFs or mutual funds.
Most of them are too busy wasting money. We all did it. Kids need proper education and support to help funding a good retirement.
You are spot on. I just helped my two teenage kids open Roths with Fidelity and they are investing in Index funds. Small amount now but time is a huge factor when investing.
Yes, both of my kids worked through high school and contributed to their Roth IRAs. They both finished high school with over $20,000 saved. They also worked in college and continued to contribute. They need to see the steady growth and power of compounding.
I did when I was young. It went to zero in 2008. Nothing is guaranteed
@ … the market did not go to zero. It dropped heavily but not zero.
Save as early as you can and save as much as you can
I was reading this article that said Americans in their 40s are the least prepared for retirement. It makes sense when you think about it. Most people are busy with mortgages, kids, or paying off debt, so retirement planning takes a back seat.
That’s true, but the 40s are also a crucial time to start catching up if you’re behind. You still have about 20 years before retirement, so compounding can work in your favor if you’re consistent.
Exactly! I learned the hard way. I didn’t start saving seriously until I was 42, and I realized how much I was leaving on the table. Now I max out my 401(k) and put extra into an IRA. Better late than never, right?
That’s where working with a financial advisor, like Joseph Nick Cahill, makes a huge difference. I Googled his name and saw he’s highly rated. I decided to work with him, and honestly, it’s been life-changing. He helped me organize my finances, reduce unnecessary expenses, and map out a realistic retirement strategy.
Oh, I’ve heard of him! Didn’t someone leave a testimonial saying he helped them double their retirement savings in just five years? That’s impressive. Having someone like that guide you ensures you’re making the right moves instead of guessing.
Absolutely. Joseph even showed me how I could invest more aggressively now to build wealth, then transition to safer options closer to retirement. It’s not just about saving but knowing where to save and invest. I recommend him to anyone who feels stuck or overwhelmed.
The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow my savings, which I've managed to set aside separately outside of my retirement accounts, but have depleted over the years?
Think about actions you’re taking that might be harming you such as carrying over credit card debt each month.
Don't navigate retirement planning alone. Consult with a financial advisor. They can create a tailored plan, optimize investments and taxes, and ensure sustainable income. I partnered with Monica Mary Strigle, a NY based fiduciary and achieved remarkable growth: 120%+ in 11 months!
@richarddamien Impressive! Just looked up Monica Mary Strigle and found her consulting page. I’ve got to say her credentials are truly impressive! I've scheduled a call to discuss further. thanks for sharing
@@richarddamien4654 Hi what is the fee you are charged for the services offered, did you pay any upfront fees for consulting? Because I just set up a consult and I am not sure what to expect back.
@richarddamien Hi what is the fee you are charged for the services offered, did you pay any upfront fees for consulting? Because I just set up a consult and I am not sure what to expect back.
That’s why it’s easier to focus on retirement planning in your 20s. Your income may be lower but your expenses can also be low if you don’t have kids. Then by your 30s you can focus on other priorities since you’re ahead on saving for retirement.
It depends. I struggled to get by in my 20s and didn't make enough to save for retirement. Realistically, many people aren't in a position to save for retirement in their 20s or even 30s, with or without children or a college degree. Many just need to focus on living within their means and paying off debt so they can save for rainy days, including retirement.
This lady has a short-term economic struggle. As soon as her kids move out, she could sell the home and do a major downsize but psychologically, people seldom want to choose to have less.
How reasonable! And you’re spot on!
If her kids move out. Kids today seem to linger on and even if they do move out most of them still rely on their parents for partial financial assistance
She also drives a genesis which is a luxury brand vehicle.
She is not a disciplined person, that much is clear.
In my 20s I was told to pay myself first. I asked how, and was told to invest in my workplace 401k plan. So I did, and now when it comes to retirement, I won’t have to worry about it like most people who decided to consume instead of invest.
Same here. I got over $1.2M in retirement assets. I will work another 20 years I suppose. The greatest thing is that the compounding compounds larger as you get older. It's great to see that your investment returns exceeds yearly salary.
I retired at 52 and honestly, I wish I’d done it sooner. The 9-to-5 grind always steals your freedom for a paycheck that barely scratches the surface. My advice? If you’re in your late 30s or early 40s, start saving for FIRE now (Financial Independence, Retire Early.) And if you’re in your 50s, invest smartly and break free from relying on your job. Market trends, like the Trump Effect, have made millions for many, including me. Stay focused, stay consistent, and remember financial freedom is within reach if you make it a priority.
Exactly My point! The 9 to 5 grind is just not worth it the stress and low payoff. What specific steps did you take to break free?
Working with Lorrie Greta Hillard , a financial advisor, was a game changer. She helped me refine my savings strategy, including retirement planning, and provided expert guidance on investments and budgeting to maximize my savings.
@@Nancy-1w Got it! Thanks for the tip! I was curious, so I looked up Lorrie
I have 5 more years and I can’t wait!
Cool! We should all look up Lorrie now! I’m not a bot!!!
Stay off credit cards…live on less than you make….buy an old car with cash to avoid car payments…and pay off your mortgage
You’re WELL behind if you start thinking of retirement in your 40s lmao
If you waited til 40s (or 48 as the woman in the video) you’re in trouble. I’m 42 and was told my entire adult life to save SOMETHING no matter how small you start. 1-2% to an employer sponsored plan in your 20s and grow the contribution a bit each year/each promotion.
How things are going, teenagers should start planning for their retirement also.
I have brokerage accounts for my 7 year old and 3 year old. Once they get jobs i will open a Roth IRA and tell them they need to put 10% in that every check. Teach them and set them up young for a lifetime of success.
. That's what I did with my daughter
I paid my house off at 48. Does that count?
Community college and part time work for the kids to get into college. Maybe military service to pay for it. I was lucky to live near a major university so lived at home and bankrolled tuition. Chose a field that allowed a proper career path.
40’s! Start sooner u do not want to be working at 65 !
Working at 65 and beyond is the new normal.
There’s a lot of 65year old people working with me. It’s really sad. Some of them live in really nice big houses but they are still paying on them.
Most of my friends retired at age 50 with $5-10 million. I am further behind and will probably not retire until age 60.
I plan on working to a least 75. Maybe not full time but definitely part time. I think this all 65 thing is BS. I think if you can work you should. If you find something your satisfied with it should be no problem.
I retired at 36. I'll never do that again. I'll always be working in some way. Retirement is BORING.
It’s astounding to me that personal finance, future financial planning and or retirement planning is not taught at any school K through college. It should be required that every student take a course on these subjects, managing a bank account, managing credit and at a minimum, the benefits of a 401K, a Roth IRA and or an IIRA. Starting young is key. Your retirement planning should begin the day you start your first job. Here’s some free advice. Never finance a new car. Wait until you can pay cash. Financing a new car will have you following the yellow brick road not to Oz but to poverty.
That's because educators (unless you own the school) are broke themselves.
Imagine how much people would better be able to prepare for retirement if we just had Medicare for all? All the stress of healthcare being taken away would allow people to prepare for so much more. Sadly, wealthy oligarchs like donny and musk will never allow this to happen.
For a country that loves to yap about so called "freedom", nothing would free us more right now than guaranteed universal healthcare.
@@JB-pl1iu The stress reduction alone for the average American would improve health and prevent worsened outcomes. Of course, the 'health care' system can't profit off of that. Keeping us sick and bleeding us dry is what keeps them rich.
Free stuff at the expense of more taken out of my paycheck does not help anyone. Already have 12.4% of my income going into SS plus 2.9% into medicare/aid...on top of my actual income taxes. Pour even more govt money into the hugely profitable medical system and see how broken it gets. It wasn't until I began saving more for my own retirement that I got truly angry at how much is taken from me to benefit folks that count on the govt to look out for them.
The problem with parents with special needs children can’t save money in their youth because all their money goes to their child’s health and services. Then careers/promotions fall behind because they have to take care of their child. Then when they get old there is no child to take care of them AND retirement savings went to supporting the child after the parents are gone so they never get a chance to retire. The US government should really do something to assist these families in this situation at no fault of their own.
For the younger people out there, one way to sidestep this situation is joining the military.
My wife and I have both been in 15.5 years now - 4.5 years left.
We will both get a pension and VA disability (read: more money) for LIFE.
Our (2) kids both have inherited our GI Bills, so they will both have 48 months of school for free (read: no student loan debt).
We lived beneath out means with only $10K auto debt between both of us, allowing us to save a massive (50%+) down payment for a house as we approach our final assignment this year. That will enable us to pay our house off in under 10 years.
Completely free medical care while active duty and less than $1000 for the entire year once retired.
Many more perks than this, but these are the big ones.
Yes, the military will have you moving every 3-4 years. You won't have "control" over your life. You won't really be able to buy a house and settle down until the last 4 years. Ask us how we know.
That said, things worth doing are worth waiting for, and at 43 and 38, we can vouch for that as we are about to move to our final assignment and transition out of active duty.
It was all worth it.
Yes, and staying past 20 years you will lose money. Make sure you contribute to your TSP and then get out and work on a second career.
Good for you but as an American I can’t in my good consciousness approve of how we deliberately meddle and disrupt other nations, with the current war in Palestine, but previously Iraq and Afghanistan where we had no business to be there. I know the military vets always complain and their ptsd for their wrongdoings is apparent so not sure what to think. America first, not Israel, not tycoons looking for oil in the Middle East, America. Billions to ki lll kids in Palestine but none for people affected in floods and fires or medical at home. Again good for you, not the route I’d take or anyone I love take.
Start retirement when you got your job!
Borrowing from her retirement was her biggest mistake. You got to put your own oxygen mask on first. Lost compassion when she said she took out the 100k.
No coffee
No workee
I started saving for retirement at 24. Was able to retire comfortably at 58.
I guarantee that with the big war and economic collapse that will happen in the next 5 years, the last thing you will ever be worried about will be retirement
Her best retirement plan she disposed of.
If you don’t start saving for your future in your twenties you’re behind.
By 40 you are 15 years too late. You also pay yourself first not your children’s college. When you have a nice nest egg you then contribute to a college plan or do that at the same time.
Your kids don’t want to pay your bills because you don’t have enough.
Why pay for your kids tuition? Invite them to start saving themselves. Encourage them to go to more affordable universities. I'm doing the same job with coworkers who went to top universities, only difference is I'm not in debt. I plan to have some money set aside for when they really need financial help in college, but I wouldn't put it in their minds that I'm paying their tuition. Heck no.
That was my parents (boomers) generation. I will not do that for my child, either. I totally agree.
I agree with involving them in the saving process, but it is also unrealistic to expect them to be able to afford the current and especially future cost of college all on their own. My main reason for investing now are the benefits of avoiding loan costs and the tax advantages of a state 529 account.
Been saving for retirement since 18 ❤
My wife and I live (very) comfortably on $2,000 (-$184 for Medicare) social security. We bought an old sailboat for $10k and live aboard fulltime. No rent, mortgage, utilities, taxes, or car payments. We sail the Bahamas, Caribbean, U.S., Mexico and Panama are in our future. We save close to 50% ($900) of our monthly income on average. Sure, there's a retirement problem in this country, but there's also an entitlement problem - everyone believes they should be living luxuriously. It's just not necessary.❤️
ummm you're going to have expensive health care costs as you get older
@Logan8x says who? I have excellent coverage, both parents are 90 and in good health, 8 siblings all in good health. Besides, I mentioned how much we save and invest. You live your (societal) reality, I'll live mine.❤️
I love this post! Thank you for sharing and best wishes to you and your wife as you continue your amazing adventures together ❤
Huh? Adults in their 20s and absolutely by 30 should start planning for retirement. Wtf?
Let your kids figure out their college. They are adults.
retire as soon you can people. time flies
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Everyone should have BTC in their portfolio
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Robert! Imagine i invested $50,000 and received $190,500 after 14 days
Absolutely! Profits are possible, especially now, but complex transactions should be handled by experienced market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Robert L Cox.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Cox demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
Shouldn’t you do this in your 20s
exactly! it's gonna be a lot more difficult to start planning in your 40s than in your 20s.
If you have children, start a college savings ASAP. I started when our daughter was a toddler and it paid for her BA and MS. Buy a good car and take care of it. It will last over a decade, easily. And don’t fall into the trap of constantly being in debt because of a vehicle.
Do it before. I'm 21. Single, no kids. I have a fund for my unborn kids.
My 8yr old son should start retirement planning in this era…
1:50 terrible decision. She forked over 400k to stay in house. She could have pocketed and rented for the “kids”
Problem with american education is it fails to teach kids how to budget and invest. Warren Buffet said it best, " compound interest is the 7th wonders of the world".
This is a MAJOR problem in America for sure!
That's not a problem. Budgeting is an individual responsibility and you can't invest in anything until you are an adult, meaning after you graduate high school and not everyone cares about investing.
I started investing at 18. I'm 50 now and I'm so glad i invested early. I travel full-time with my husband and three highschoolers while homeschooling. I set up roth iras for my kids years ago and continuously teach them about how the economy and money works. Ive taught them fire principles and know as teens, any money that comes in they save 80% and once they work full-time and have bills, to keep it to at least 50%. They're so sweet. The told me when im old, the will give me money. I told them i have plenty of money. I just need them to stay out of debt and trouble
Beautiful
Americans in their 20’s should focus on it
Saving for Retirement should start at 21, and Finance 101 should be a MANDATORY subject in Middle & High School curriculum - so folks know what they're getting into BEFORE getting a College Loan.
Right and parents should help. Don't let your kid go for something that doesn't have a ROI, and do not let them bury themselves in debt. Student loans should not be used for Starbucks and designer cloths to end up with a degree you can not pay back.
I'm 63 and it is too late for me. I will work until I die.
buy bitcoin. there's still time
@@drumdevilbdAbsolutely not
@@donnavannostrand4139 idk your specific situation. But bitcoin has gone up 60% a year on average.
That's means if you put $1,000 in now, and added $500 a month, you could retire before age 70, and have about 50k a year to live on til you're 90. Idk about you, but that sounds a lot better than working til you die.
@@donnavannostrand4139 why? I just plugged some numbers in. If you started putting $500/ a month in now, you could retire by age 70, and have 50k to live on til ur 90. That sounds a lot better than the alternative!
@@drumdevilbd Bad advice.
The first thing I did my first “real” job out of college is sign up for that 401(k) program! Took a LONG time to feel like I was making any progress, but I kept with it through good times and bad! Now, having just turned 60 I am glad I did - another couple of years and the boss gets his upraised middle finger………🥳
We have a retirement system designed for people who are married to stay married and retire together and share expenses its not designed for one person to go it alone we are starting to see the consequences of that. Be prepared for getting a roommate or cohabitation in the future you are not going to get what your parents and grandparents had.
How about get married and have a family as God intended?
exactly, single living will be a luxury for the median person. This lady is gonna be broke, you are running a non profit, you need to make a profit if you don't want to be broke at 65 lady.
You don't have to retire, if you don't stay busy and social you deteriorate in mental and physical form. I Know of 60 year old hispanic landscapers stronger than me
In your later years, you should work because you want to, not because you haven’t saved for retirement.
Too far away is the best time to start. To have a million at 65 you need to save based on a 8% return. Starting at 18 save $175 per month. Starting at 25 save $300 per month. Starting at 35 save $700 per month. Starting at 45 save $1,700 per month. Starting at 50 save $3,000 per month. Starting at 55 save $5,500 per month (ouch). Starting at 60 save $14,000 per month. Never ever ever ever touch it. Take the employer match 100%.
See thats the irony....50% of marriages in in divorce. Thats not a bet i'm willing to take.
Dude, we cant even afford kids, not even houses. Retirement is not an option with low wages and high rent due monthly
All I can say is to start early. Compound interest is our best friend. As a 43 year/ husband 46. We started to invest when we started our first grown up jobs right after college. Granted luck maybe on our side, consistency is the key, no matter what the market is doing. Believe me anyone can do it. Little bit at a time, don’t stop and won’t stop.
S&P 500 index fund
There is no retirement in America there is only survival!
My parents, grand parents, in-laws all had successful retirements. I'm 38 and on track to have a very successful retirement. It is possible to retire if you put an effort into it. The reason why American's cant retire is because of their high car payments $750 average payment so they can sit in the Starbucks line. You should put more in your 401k than your car payment is. Your car payment should never exceed your credit score number. Number 2 reason for 401k loans is vacation. I know this all seems crazy but it is reality.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my inherited portfolio of about $2.5m. I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.
True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
@@mariaguerrero08Mind if I ask you to recommend this particular coach you using their service?
Credits goes to " Izella Anette Anderson " one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
Uhhh... 60-80% of Americans live paycheck to paycheck. Saving for retirement is a LUXURY.
I started focusing on my 20’s after I became financially literate and realized I didn’t want to be another cog in the wheel forever…..never to early.
It's hard for people to plan for retirement, because they live paycheck to paycheck, and are too busy living for today.
Interview the husband. He’s probably worse off after she ruined his finances
Data doesn’t support this hypothesis. Women typically fare worse financially after divorce than men.
I mean did she really need that house?? She was better off downsizing to condo or rental for afew yrs and not takeout of her 401k
I knew a divorced woman with two young kids who did the same - she took from her 401k to pay for.a new house. She was really promiscuous too. Divorce laws already favor women - she's probably getting money from her husband to take care of her daughter in that house too. Video's like these are so biased.
The kids you worried about said mmm may next door …
Where is this lady from? Her accent sounds a bit mixed but I'm trying to figure it out.
I’m doing that but don’t plan on retiring in my 70s 80s or even 90s
People in their 20s need to focus on investing, and not spending on cars, vacations, Botox, Lululemon, crazy weddings….then they won’t be these broke 40 years olds…I’m 34 and worth $1.2m because I live below my means, wild concept right?!😂
Best thing my parents did was open a Roth IRA for me right before I went into the Military. Retired at 44. Now I have that added buffer for later in life. Planning is key. You have to have the disicipline and forsight to follow it through.
So many people are living check to check when they have leverage themselves so deep. Bigger homes, more expensive cars and they are one check away from ruin.
I definitely understand the divorce part having gone through it myself a few years back but I’m not going to eat Ramen so my kids can have a great life and I can’t survive. They just have to understand that things have changed we need to readjust the rest of our lives.
Parents aren’t obligated to pay for our kids college. Maybe they can work and go to tech school and get a job and go to college later.
We all have to make some changes.
Hahahahahahahahahahahahhahahahahahaha? The retirement money that will be wiped out as soon as they get sick because we have no Universal Healthcare. Hahahhahahahahahhaha.
The vast majority of "workers" will be pushed out of their careers in their early 50s. You can do everything right, it won't matter. So most of us need to plan for exiting the most profitable stage of our lives at that time.
They will never tell you this. 😂
I was forced out of my job of 34 years at age 58. It was a physically demanding job. Good pay. They had a way of “encouraging” early retirement without breaking the law. It was very rare for anyone besides upper management make it to 60 on the job. Fortunately my company had an outstanding profit sharing program. And I was always a saver. Retired a multi millionaire. Life is good.
Americans in PRESCHOOL need to focus on retirement planning!!
another problem people "experiencing homelessness" don't have to worry about because they don't have a job to "retire" from
Retirement?!? 😂😂😂😂😂😂😂😂😂
My grandfather worked well into his 80s. But he found a job that he enjoyed. And I know folks who retired in their 60s and 70s who are bored out of their mind, and spend all their time reading about conspiracy theories online. As long as I am healthy I plan to follow some version of my grandfathers plan to stay active and mentally/socially engaged.
Just my 2 cents, but folks would have a lot easier road to saving for retirement if the federal government wasn't bleeding them dry. Not to mention the self-inflicted inflation. But, if you have kids I don't think it's a bad idea to let your children know that they are going to be responsible for at least some of their education cost. Just my 2 cents, I don't think a college education is worth what it was 20 years ago - especially with the ridiculous cost of tuition now. I say this as someone with a college degree, too. I think the trades are a much better avenue. There is such a shortage of tradespeople that a lot of companies will offer to pay for your training and sometimes pay a small salary while you train. You usually have work for them for 3 - 5 years afterwards...but how great is having a high demand, high paying job with no tuition debt? That's the way I'd go now if I were 18.
Let her children find a trade! All this college or nothing is total BS!
They're too busy focusing on housing, food, and insurances with prices as they are.
And they won't be going down any time soon.
As a 60 year old I will say save early and often, if you haven't already started in your 40s, get busy. I had some tough times in my 40s and 50s but should have made some sacrifices to regularly contribute even small regular amounts.
you need to think about retirement when you get your first job out of school. Don’t wait.
This sounds easy in theory, but a lot of people cannot afford to defer a sizeable portion of their paycheck to retirement. A lot of people work jobs that don't offer a retirement plan as well
My retirement is looking nonexistent. It is very challenging.
Don't think that. You can do this. Start today though, not next week or next month, today. Open up a Roth IRA and invest in index funds. Set up regular automatic contributions and never stop.
@ Thanks for your advice. Currently, I’m going through a financial crisis without a job.
@@schawnettarobinson8584 .. ok that’s a bit different. I understand that can happen. Don’t give up though, formulate a plan and don’t quit until it works out. Nothing easy is worthwhile.
Build my exit plan with 50-55 at 35.
It brings a lot of joy to have that defined.
Agree. My sister likes to say to me “what if you die before you can spend all that money” to which I try to explain to her the joy I get every day simply from knowing I’m financially secure and don’t have to worry.
@edhcb9359 tell your sister that the probability you will become old is way higher than actual die young.
I did the same. I'm 47 and will retire using the IRS rule of 55. I"ll retire in 1/2032. 7 years and 1 month away!
Retirement in 2025 for the common worker is an illusion. It won't happen, there's not enough money left after bills. Unless you own your own business, have multiple jobs, or earn a very high income with 1 job, your more than likely not going to be able to retire. Most of us will have to work up until the day we die.
Start investing in your teens and 20s to build the habit for when you make good money. Parents should be starting custodial accounts for their children. Starting a 40+ with children is a recipe for failure.
Don’t listen to the economist named Teresa. You’re not destined to do worse than your parents or grandparents.
You can build up your retirement fund. Sacrifice now. Save frequently now. If that means you have to work a side hustle, do. But Teresa was a negative Nancy in this piece. Don’t listen to losers.
I feel so warm and cozy knowing all the money I lawfully and responsibly paid in taxes for Social Security will never be returned to me and basically stolen by corrupt politicians and a completely inept and financially irresponsible federal government. Such a beautiful and benevolent Government, am I right? Why on earth would anyone want to dismantle it? RIGHT?!
And yet she’s driving an expensive car. She’s overestimating how long she has to fix this. One you hit 50, you are in a whole different realm employment-wise. I would not want to be not prepared by that age.
On the other hand, any medical crisis in your life, and you could easily go bankrupt...medical debt is the leading cause of bankruptcy. You will never save enough to pay cancer bills...if you get cancer you may survive but may well be financially ruined the rest of your life (medical debt, loss of income as you don't have any protections to keep your income). May as well enjoy life when you can.
I soon enter the 40s and have been getting the retirement accounts planned out to be on track or better based on my income and future. The year I am 40, be nice to have $250K among accounts although it will be a stretch to get there.
I’m learning Spanish now to communicate with my future long term caregivers.
40's are too late to focus in it imo. But imagine what those in their 20's and 30's can do with the way rents and new mortgages, child care, etc are like?
We’re not doing worse than my parents and grandparents! We are blowing them out of the water! Part of that is due to a healthy military pension and far more education. We are the first generation to graduate from college. Then we continued on and received masters degrees. We learned about financial education and made better choices early on. I expect my kids to far surpass my husband and I financially too. They are starting a place of privilege.
40 what are these people smoking on. I started on my late 20's now we have nearly a million dollars net worth. I just turned 40 and my wife is 38.
Great video, one that folks really need to watch. I' m 50, retired a while at 45. 1 have 35% of my capital invstments in an IRA. 25% in index funds, and the balance spread across other investment accts. in cumulative of over $ 5M. I receive income from my rental properties too. Zero debt and all is going accordingly. My financial consultant has been patient and has done a wonderful job for me throughout the years.
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
Financial planning and retirement strategies are crucial, especially in today's economic climate. With global economic fluctuations and uncertainties, it's essential to have a solid plan in place to protect your financial future.
It's crucial for individuals to diversify their portfolios, seek professional financial advice, and stay informed about market trends to navigate these challenges effectively.
Please could you guide me on how to get in touch with your advisor? My funds are being eroded by inflation and I seek a more lucrative investment strategy to effectively utilize before I consider retirement
I just turned 44 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I'm getting worried about retirement, my intention is to retire at
How best do l maximize my savings of over $220k
Retirement planning should begin at conception. Ignore the advice of others who fall short of this counsel.
I started contributing at 25 and I’m honestly worried that I won’t have enough for retirement. 😭 Low income for a household of 1 in my county is currently $84k. I still have almost 3 decades left til retirement…
What is your county?
I’ve been planning for retirement since I was 16 years old