When to take SocSec: What most don't consider is that if taking it at 62 means those $$ remain in your ira to grow, at a mere 5% avg annual return, your break even point isn't until your 90s. Given SS is probably going to be cut in some form in 2033, I'll take the bird in the hand and take it at 62.
Sorry I missed the live, Rob, as I had to run the investment club meeting. I just stopped in to see what you had to say about UA-cam. There is one other way to make money on UA-cam, although not for this channel. The picker and storage unit clean-out videos often have a fair number of viewer sales on their sales platforms - yes, you can watch some guy get something at a garage sale for $3, and then bid on it in a live auction.
American culture is that we don't divulge too much about our finances and that it's kinda rude to ask. But in the context of UA-cam content creators, I think it's reasonable to ask. I think a reasonable amount of information for you to disclose further would be: * What order of magnitude is the annual total of what you get by being a UA-cam content creator? As you did in this video, I would include your referral revenue from NewRetirement and other companies in that without your UA-cam content mentioning those referral codes, I suspect nobody would be using your referral codes with those companies. For comparison, I'm fairly willing to tell people which of these options represents my lifetime profits from exercising stock options received from pre-IPO startup companies. (1) A nice dinner. (2) A nice vacation. (3) A nice car. (4) A nice house. (5) A nice rest-of-my-life. * What percentage of that total comes from each major slice of possible revenue? (In your case, just two slices: referral codes and UA-cam direct revenue.) Also, I'm curious how much breakout do you get for UA-cam revenue. In particular, how much comes from ad revenue and how much comes from Premium membership revenue.
I’m curious how you go about estimating / projecting future returns for the purpose of retirement planning? I realize it’s just educated guesswork, but can you share with us what you use in your new retirement estimations (based on asset type of course)?
TBH, I've always (for nearly 20 years now) projected a relatively conservative return of 6%. While there have been ups & downs over the years, when I look at what I projected to have now in 2024, back in 2006, it's almost spot on, and I've actually averaged closer to about 7.5%. I've ranged from minus-18% to 24% over the years. I believe my approach has served me very well *long* term. Kept it simple, but not overly aggressive or unrealistically optimistic either. I went part-time in 2022 after trying to retire and fully retired beginning of 2024. The occasional ups & downs weren't always fun (well, the ups were lol, but I didn't over-count on them), but the slow & steady seems to have won the race. I'm 59 fyi. Best to you.
When you die, your spouse gets the amount that you would get at your full retirement age. Unfortunately, your spouse does not get the benefit of higher amounts that you get by delaying to 70. Update: This is not correct based on SSA POMS (Program Operations Manual System) documents. Also, see replies.
My father-in-law took SS at age 70. He recently passed at age 84. My mother-in-law's death benefit got scaled back not to what his age-70 benefit was, but his age 67 calculation. Did SS gyp her? Should she protest & file for back payments? I've read so much conflicting info on spousal and death benefit. Thanks, I'll also look up the SS dot gov site, though their verbiage is so often ambiguous and conflicting unless one parses every word hyper-precisely.
Sign me up for the New Retirememt course. I already use it, but I'd love to get better at it. No doubt you have many tricks, tips, and traps to share with us!
T-shirt that says “Berger & FI”
TY Rob. You read my question here, and you are GREAT in your coverage.
Great channel with fabulous information.
Just curious as to what “a small amount” from an affiliate is (ballpark estimate).
Thanks
I would definately subscribe to a course on New Retirement. Hope that comes to fruition.
Love the retirement planning course and would buy it
New Retirement course sounds fantastic
When to take SocSec:
What most don't consider is that if taking it at 62 means those $$ remain in your ira to grow, at a mere 5% avg annual return, your break even point isn't until your 90s. Given SS is probably going to be cut in some form in 2033, I'll take the bird in the hand and take it at 62.
That course sounds great! I would consider buying it, depending on $$.
Thanks for clarifying how NR makes certain assumptions automatically.
Sorry I missed the live, Rob, as I had to run the investment club meeting. I just stopped in to see what you had to say about UA-cam.
There is one other way to make money on UA-cam, although not for this channel. The picker and storage unit clean-out videos often have a fair number of viewer sales on their sales platforms - yes, you can watch some guy get something at a garage sale for $3, and then bid on it in a live auction.
I would buy into the course as well.
Course sounds like a newest edition of a Suze Orman book.
@Rob Berger yes I would likely take the New Retirement course.
American culture is that we don't divulge too much about our finances and that it's kinda rude to ask.
But in the context of UA-cam content creators, I think it's reasonable to ask. I think a reasonable amount of information for you to disclose further would be:
* What order of magnitude is the annual total of what you get by being a UA-cam content creator? As you did in this video, I would include your referral revenue from NewRetirement and other companies in that without your UA-cam content mentioning those referral codes, I suspect nobody would be using your referral codes with those companies. For comparison, I'm fairly willing to tell people which of these options represents my lifetime profits from exercising stock options received from pre-IPO startup companies.
(1) A nice dinner.
(2) A nice vacation.
(3) A nice car.
(4) A nice house.
(5) A nice rest-of-my-life.
* What percentage of that total comes from each major slice of possible revenue? (In your case, just two slices: referral codes and UA-cam direct revenue.)
Also, I'm curious how much breakout do you get for UA-cam revenue. In particular, how much comes from ad revenue and how much comes from Premium membership revenue.
Rob, yes, you should do a course on NewRetirement. I subscribed to them (NR) based on your videos and information.
I'd take the course, if it is free, for those financially strapped on a limited budget in retirement !
TP with Michigan logo.
I’m curious how you go about estimating / projecting future returns for the purpose of retirement planning? I realize it’s just educated guesswork, but can you share with us what you use in your new retirement estimations (based on asset type of course)?
TBH, I've always (for nearly 20 years now) projected a relatively conservative return of 6%. While there have been ups & downs over the years, when I look at what I projected to have now in 2024, back in 2006, it's almost spot on, and I've actually averaged closer to about 7.5%. I've ranged from minus-18% to 24% over the years.
I believe my approach has served me very well *long* term. Kept it simple, but not overly aggressive or unrealistically optimistic either. I went part-time in 2022 after trying to retire and fully retired beginning of 2024.
The occasional ups & downs weren't always fun (well, the ups were lol, but I didn't over-count on them), but the slow & steady seems to have won the race. I'm 59 fyi. Best to you.
Kathy should read Die With Zero because even though your money grows it is worth less to you.
See you
Love the course idea! Putting some structure around all his would make it easier and more fun.
When you die, your spouse gets the amount that you would get at your full retirement age. Unfortunately, your spouse does not get the benefit of higher amounts that you get by delaying to 70. Update: This is not correct based on SSA POMS (Program Operations Manual System) documents. Also, see replies.
I believe Rob is right on this. I think you are confusing spousal benefit rules with death benefit rules
@@gabeworley6050 Happily it seems you're correct, and I'm wrong.
My father-in-law took SS at age 70. He recently passed at age 84. My mother-in-law's death benefit got scaled back not to what his age-70 benefit was, but his age 67 calculation. Did SS gyp her? Should she protest & file for back payments? I've read so much conflicting info on spousal and death benefit. Thanks, I'll also look up the SS dot gov site, though their verbiage is so often ambiguous and conflicting unless one parses every word hyper-precisely.
Hear you
Audio video is good 👍
Her SSI will not equal yours at 70. It stops at your value at 67- PIA.
New Retirement is not Canadian friendly. I would not buy it.
Sign me up for the New Retirememt course. I already use it, but I'd love to get better at it. No doubt you have many tricks, tips, and traps to share with us!