Average Retiree Income: Where Do You Stand
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- Опубліковано 12 тра 2024
- Today we share with you the average retiree income from around the world.
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Where do you stand? We will share our thoughts on comparing ourselves and where we are with other Americans versus comparing ourselves with the rest of the world. Hope this is helpful to you in showing you some perspective about retiring with enough.
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Most Americans find it hard to retire comfortably amid economy crisis. Some have close to nothing going into retirement, my question is, do I pull cash from my 401k and buy a house, or spread my money in stocks for cashflow? I'd love to afford my lifestyle after retirement?
Lately, I've been contemplating retirement myself, uncertain whether my 401(k) and IRA will ensure a secure future. I've also invested over $800K in the stock market, experiencing fluctuations without substantial gains.
Opting for an investment advisor is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. Going in blindly will only lead to losses . I've been consulting with a coach for a while, and my portfolio has surged by 45% since .
Opting for an investment advisor is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 45% since Q2.
Sharon Ann Meny is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just googled her now and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
Great advice. This is exactly opposite from what my financial advisor has told me. I plan to retire early in two years. He thinks I need to work another eleven. No way. I want to travel. We are downsizing in retirement and moving to a less expensive area to make all of this happen. You two are great role models.
Most of them would love you to work forever because they make more money
I would say it has more to do with their conventional training and thinking. This is just what most Americans think. My financial advisor is trying to get me to stop working.
So I assume you know you are paying 1-2% in fees for his “advice”. You can move your investments to Schwab or Fidelity and handle things on your own.
@tfrank717 I would rather pay the devil himself than give Charles Schwab a penny, May he eat his own bugs. XD.
Did you say another 11 years?????? First, get rid if his ass.😂
This is such an anxiety-reducing video. Thank you!
You're so welcome!
Amazing video but I will say retirement becomes truly fulfilling when you possess two essential elements: financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement. This is how it should be and I really want that have that comfortable life . Any advice on what to do ?
Yes you might say that but More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire without any investment. Retirement becomes truly fulfilling when you possess two essential elements: financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.
@@user-qs9by1fq4o What do you think is the best way out of retirement failure? I call it that because when you do not have a good retirement pension or can not afford some basic needs then you begin to feel the failure of your hard working days. I am open to advice and suggestions.
@@Michelle_Sanders561 Well, I'm 55 and fully retired for some years now. When I had my 21st birthday my mother told me to start planning my retirement then. Seemed ridiculous at the time but I took her advice and started my investment journey. It had ups and downs but our income per year now is more than 100K and we live pretty well. A new car every 5 years, private health insurance, and two overseas trips a year plus we also have enough to help out the kids with their mortgages. No govt pension of course. The secret, if there is any, is to start early to get the benefit of compounding.
@@Michelle_Sanders561 I'm 55 years old and have been retired for a while. My mother advised me to begin retirement planning the year I turned 21. Although it seemed absurd at the time, I followed her advise and began my financial journey. Although there have been ups and downs, we currently make more than $100,000 annually and lead comfortable lives. Every five years, we get a new car, have private health insurance, take two annual holidays abroad, and have enough money saved up to help the kids with their mortgages. No public pension, naturally. If there is a secret, it's to start early and take advantage of compounding.
@@Michelle_Sanders561 working with a good financial advisor will accomplish that. I am not one I happened to use one of the best two years ago and we have been on good terms and my finances are stable.
Contentedness. It can’t be over emphasized how important this can be! 😊
So true!
Couldn’t agree more: Happy is the man who is content with his lot_ King Solomon. 👌🏼
You are making it look so easy, but I’ve heard other UA-camrs lament about getting to 100k subscribers. I am listening and agree the American standards are so high and comparing themselves to celebrity lifestyles of “the Rich and Famous”. That is not gonna work for the 99% of us. What will work?!? Great advice! Keep up the good vibe! ❤❤
"Enough" is the magic word for me, too. Robert in NYC.
I think a lot of the anxiety about retiring in America is going broke with medical costs. We're the only industrialized nation in the world who doesn't have universal healthcare.
I agree. I work in health care with insurance costs. Our medical costs will deplete retirement savings in a very short period, even with good insurance. Also, long-term health facilities will bankrupt a family, especially for non-covered health conditions such as alzheimer.
Exactly why leaving the US is a great idea. I have friends that have moved to Canada… and yes.. they retired. 😊
Yep. And the GOP wants to end what little healthcare benefits we do get. If they get their way, no Medicare, no Medicaid, reinstate pre-existing conditions coverage denials, reinstate lifetime caps, etc.
The US handles most of the worlds research and development for medical drugs and equipment. The US bears the brunt of the costs and when those items ship to other countries, they get cheaper rates which allow for universal healthcare. A big problem with universal healthcare is the costs associated with immigration. Many of the industrialized nations that have universal healthcare struggle financially when immigration gets to high or out of control. The US would have many issues financially if universal healthcare is enacted. Despite what media say, money doesn't just appear without repercussions.
You are absolutely 100% wrong about the republican party’s agenda. They are the strongest supporters and funders of social security. Look at the facts. Since 1975 it has been the democrats that reduce social security. Check your facts!
In the US it's the stress of our healthcare system here and it's crazy cost. Healthcare between say 55 to 65 Medicare.....gap years no employer coverage.....crazy money to buy coverage in the US. My husband's retirement plan from Deloitte a huge worldwide firm makes zero contributions to healthcare and the cost for two people is currently $44,000.00 a Year. So I continue to work for my employer while he is retired for healthcare that only cost $17,000.00 annually. I place these numbers out here for the wider world to see the craziness of our out of control cost of healthcare here in the US.
Those figures are frighteningly shocking! Time to emigrate I’d say.
That's the largest health insurance premium i've ever heard of. what state is this?
Exactly. Other countries don’t have that worry. They don’t even know what medical bankruptcy is.
I quit my job/retired April 2024 and my COBRA for HSA+vision+dental is about $9600/year for 1 person. This commenter would do better getting a part time job to get subsidized ACA health insurance. I will need to do this myself for one year to get to Medicare.
From paying for day care and college, to managing mortgage payments. I'm approaching retirement yet inflation is getting worse. How can I generate more income to retire with at least $3m for long term care? I have about $800k in savings.
making sure you are ready for your later years is very important, we share common goal. I'd suggest you consider financial advisory
Agreed, getting the right financial services is invaluable, my portfolio is well-matched for every season of the market, and since early last year to date, has yielded 140% off $350k. I and my CFP are working on a 7-figure ballpark goal, tho this could take another year.
@@arlenehill4ril congrats! once you hit a big milestone, the next comes easier.. who is your CFP if you dont mind me asking?
''Karen Lynne Chess'' she's a renowned figure in the financial industry with over two decades of experience. I'd suggest you research her further on the internet.
thanks for putting this out, just looked up Karen Lynne Chess on the web, and was able to schedule an appointment via her consulting page, no doubt she shows a great deal of expertise ...
The corporate 401k firms in the US scare everyone with their minimum numbers needed for retirement. It’s a whole industry interested in having more of your money so they can make more! America is great…thanks for sharing your perspectives, very refreshing.
One thing that I discovered/noticed by digging into the numbers is the online retirement tools don’t factor in how much I’m saving for retirement. I’m able to max out my 401k plan and Roth IRA, which comes to $38,500 that I’m investing for retirement this year. Plus once I retire I won’t be working so I won’t be paying into Social Security or Medicare which is another 7.62% of my income. When I multiply my annual income by .9238 and then subtract $38,500 from that number it shows that I need a lot less in retirement than the free online retirement planning tools say I’m going to need.
Everyone needs to figure out their own plan for retirement, and each and every one of us needs to do it intelligently and carefully. We can’t trust the generic, “Here is what you’ll need” guesses because those guesses don’t factor in our individual situations.
Thanks for the kind words of hope and for keeping up on some plan.
We are less than 2 years away before early retirement (will be 39 or 40) and love this perspective you share. Thank you very MUCH 🙏
Wow, that's amazing!
I love that you call Saigon by its birth name. Thank you! I enjoy all of your channels and am very much envious of you two.
Great video folks. You present your information in a positive and easy-to-understand manner without a lot of hyperbole! I love this information, and I envy your lifestyle. Live your best lives and I'll keep following you! One day it will be my time to travel and live abroad!
I so needed to hear this! Retiring as a teacher in one month. In my late 50’s and of course have been worried here America..Thank you for the perspective! Gets me out of my “worry” mode.
I appreciate your humble and straightforward advice!
We appreciate that!
I lived in Thailand , Chang RA, very comfortable on $650 per month. Rent 250, food 300 utilities $50 internet $50 - No girl friend, no spouse. I did not cook and ate at restaurants and street food (yum). Transportation - 100cc motor bike gas was cheap included in utilities. sometime I used tuk tubkor a load dang. I don't drink booze and can't stay up later than 10pm so the bars are out. I saved over 3k per month from my income.. That did not include immigration costs every 90 days. Learn the language and it gets cheaper.
No health ins?
@@zilcher No insurance but now you can't get aways with that. So add another $120 per month. Oh yeh every now and then the police get a red one (100 B)
Great perspective to alleviate the fear mongering most promote. When we had a couple fee only advisors look over our plan, they both said the same thing. "why are you still working" That speaks to that confidence scale you referenced and perhaps not seeing things in the right light. It made us re-evaluate and we are pulling the plug soon on work in our 50s and won't look back. Cheers !
Enjoying your trips and informative information.
Thanks for watching!
That was a great video! Thanks for adding perspective!
Bless your hearts for making this video. I just love your approach to the subject. Thanks much.
Thanks for watching!
Great Info! Thanks for sharing.👍
It boils down to healthcare. if we had universal healthcare, our country would be so incredibly great and people would not have any kind of anxiety
Aren't US retirees covered by Medicare? Isn't that a form of universal health care?
@@randall8379 no most Medicare does not cover you outside the US. If I remember right Medicare G does cover travel, but it might be limited.
@@RuthM-eh8eq I was not referring to care outside the US, rather to the comment that the US does not have universal health care -- Medicare is essentially universal care for those 65+. I doubt that many countries that have socialized health care pay for that care outside their borders.
if the government is involved it will cost you ten times more than if handled by private enterprise and you will get almost no service if the government controls it.
Fantastic video and so glad I found your channels. Have a fantastic day.
Thank you! You too!
“Comparison is the thief of joy,” right? Thanks for another great video.
Maybe there's another reason why you're doing wejl on UA-cam: You truly are offering a unique message and perspective. This particular video is a great example of this. Thank you!
Great content! Keep up the great work!!! Happy travels! 💗
Thank you! You too!
Not compare ourselves with others...that is the key! Excellent information to continue preparing my retirement...😀
I'm a homemaker and my husband will be retiring in 2026 at age 65yrs old and I'm 60yrs old.
We are confident that we will do great financially overseas. He has a pension, social security and 403b income. If for some reason things go bad with social security we will still be good financially. We already sold our home and things last year so the profit we made from the house gave us a huge boost in our savings account which we put in an investment account which currently yield $2,000 a month. We have been traveling 2x's year for the past 8yrs and that's when the international bug bit us and we realized how life would be great living overseas. We currently live in Atlanta so hello!!
Great video!!
So where overseas will you live?
Hi Randall, we are going to do slow travel for 1 year starting out in Europe and then head over to the Asia region. We have been currently traveling to the caribbean regions.
@@janethiggins2725 Then travel, not settling down in another country.
And the problem is?
@@jerrypedrick6206 Who said there is a problem?
Great Video.. thanks for posting
Thank you
Always enjoy your videos. 👍 It's like hanging out with Mr & Mrs Cool Travels. 😊
You mentioned you have suitcases and backpacks for gear. What would you say are the biggest motivators to keep using suitcases over just the backpack and personal bag that so many other slow travelers use?
Real conversation from everyday people who appear to not be acting which I often see from other retiree youtubers from our country. I was thinking while watching your good discussion here that we get our view warped in our country and in our culture. We’re taught that we don’t have enough and yet as I look at my own situation of being over prepared and well supported in retirement income I still spend time thinking if an extra year or two for a little extra money is important. I hope to change that right now, and I appreciate you both and the discussion here as it made the case for me. Last point…I’m still baffled at how we’re ready at an 83% level but our confidence is at a 68%…so true…and so unnecessary. I’m not always happy about the effects of our culture on us. Thank you again for your video.
I need to hear this today.
Another great and inspiring video... thank you!🎉
Thanks!
You guys are so great! I love this channel.
Thanks so much!
Your videos just keep getting better!
Thanks so much!
Love the way that neither dominates the conversation
Comparison is the thief of joy.
When I realized that by the time I finished paying our home. My house taxes is what I’m paying in rent right now we were ok with selling. I will never see that money again but in my late fourties’ heading in to my fifties with no debt. I’m ok with that.
This is such a new, fresh perspective on retirement readiness! I watch quite a bit of financial retirement videos and no one presented information like this. We as US citizens need to know that we aren’t stuck here and have a world of other options to live an enriched life. My husband and I are going to retire back in his hometown in Canada. He’s getting a Canadian pension and I’ll get a US pension which will go materially further there. GREAT video
Totally agree!
I think the reason retirement confidence is low because most people aren't looking outside the box. If you look at a typical retirement in the US, it can be pretty daunting when you just focus on that. If you look outside the US, retirement is easy. Thanks for the channel.
Very timely for me. I’m at age 65. Still working. After viewing this video, I learned I must accept where I am now and what I can do now. I am comparing to where I live which is, NYC. Middle range here for me is much higher than the average in other countries. Time to rethink. New to your channel.
I really do appreciate this video! Thanks
You are welcome
Thank you!
You're welcome!
You guys are amazing. I'm watching all of these doom and gloom predictions about a recession that will hit the US even though the US economy is great. And it's so nice to watch a video regarding retirement in a very positive light as you both have shared. And thanks for pointing out that there are so many pathways to retirement and all retirees have to do is look for a path to retirement that works for them. I'm so glad you folks are doing so well.
Great advice, great perspective! I'm excited to move to Mexico. I'm also realistic about things! 😊😉
I never tried to compare myself to others. I always concerned myself with what I needed.
Same!
I knew this would be a great video. Thanks
Thank you!
I’m grateful that you all share all this info! We’ve decided to retire early because of you two ❤
I thought we needed $6MM to retire, and now I know we can retire right now if we wanted to. 😊
Wow guys! This is exactly what I needed to hear. I feel like I’m spinning my wheels here in the U.S. I’m 65 and everyday I say ‘why am I here?’ SS doesn’t kick in till June 2025 but I’m going to see if I can make it happen sooner. I’m done w the hamster wheel. Keep up the good work!!
Thanks! All the best to you
Thanks for the info. Love your channels!!! It would be so great if you could show us some of these inexpensive places. Also it would be very interesting if you could interview some retired people that are enjoying these countries.
Thanks! We are planning on it
Inspired by your approach on retirement, and as Americans, we do have a lot of options. Health care costs in the US maybe the greatest concern that hurt the confidence of the Americans.
Wherever you go you will need health care. If you can get a residence visa in some countries you may qualify for health insurance. If not, you will have to pay out of pocket. In less developed countries you will want to go to the better private hospitals. Treatment for something serious may not be as cheap as you think. Medicare, on the other hand, will pay most of the costs for treatment.
Great vid as always! Too many people work so many extra years for money that they never needed in a lot of countries.
I think for us, we just want to be in a position where we don't have to think about money while retired. When you've been thinking about it over half your life, it's hard to even imagine not. I think that's where our fear creeps in. But this was so refreshing to see, we can live where we don't have to think about it. Just live.
Thank you for this encouraging and excellent video!❤❤❤❤❤❤
Glad it was helpful!
Great video guys. Thanks for sharing an informative and inspiring video. We have begun to think about retirement and a lot of travel. Stay safe!!
Thanks
Good morning and good evening it's 6 AM here in Southern Idaho. I found your UA-cam videos from a fellow that does a lot of repositioning cruises I forget his name you mentioned him in one of your videos.
I retired when I was 58 and my wife recently retired last October we are thinking of doing the exact same thing you guys are doing but it's hard to get my wife on board it is a little nerve-racking.
3 years ago we downsized had a beautiful 3000 square foot home on an acre and now we live in a 1600 square foot home on a small lot in a small town just West of Twin Falls Idaho.
I am now 66 and my wife is 58. We should have done this years ago but better late than never. Was curious if you have a video which shows all your camera gear. I have been watching your how to UA-cam videos and I am really excited about getting on board and doing this. We have a pretty good size nest egg and once we do this we could sell our house which we own free and clear For additional Financial security.
We will probably start out with small trips for instance I found a repositioning cruise from Seattle to Tokyo for $868 each in Oct 2024. 15 days We were then thinking of staying a month in Tokyo after the cruise and then flying back just to get the feel of it but it's too soon for us and my wife is a little nervous.
So we are taking your advice and getting rid of a lot more stuff. We don't have children so if we did sell our house we would have to rent when we came back in the states or live with friends.
I do have a friend of mine that lives in Cambodia I believe it's called kamphot. He has been living there for a little over 20 years. And loves it.
Anyway just wanted to say hello and keep up with your videos my wife and I binge watched a quite a few of them yesterday. Have a beautiful evening.
Someone who I used to work with had lived in many different areas of the US. She told me about different characteristics in each area. One place that she lived in was suburban Atlanta, and she said that in Atlanta it was all about keeping up with the Jones's. Her description is exactly what you are both saying. Hearing you say this is like deja vu for me.
People in Atlanta are worried about optics and what other people have.
I started saving way too late (age 60) and thought I’d never have enough to retire because I had zero assets - no property, 401k, or market investments. But I was able to pay off all my debt, slash expenses and save 70% of my income for the last 4 years. Now I know I can live comfortably on under $2500/month from Social Security and a small pension whether I’m in the US or another country. I don't even want the big house, new car, expensive vacations or other "luxuries" anymore.
Thank you. I’ve been hearing so much about you have to hit fire to retire, etc. etc. etc. and for some of us who are quickly approaching 60 with having maybe $1000 in I’ll be OK I won’t be retiring here in the United States.
Speaking for myself, this is probably the best video you have put out! ❤👏🏼I am a recently retired teacher (NYC, USA_ 33 years of teaching!) and I already had a feeling that I was actually better off in my retirement than most other people my age retiring from non-governmental institutions, here in the east/USA, and of course, globally speaking even more so. But you are quite right in that human tendency is to compare oneself to others; with the sharing of such great info and your positivity and confidence, you guys have helped confirm this feeling I had: that I’m actually in a good place financially, specially due to retirement. It is easy to question your retirement readiness when one lives in such an expensive city_ I could buy a house 2 states away with 1 year’s rent in NYC (your friends from Cali…😂). This content you’ve shared made me realize that with a little planning, downsizing in the home country/state, and tightening spending here, where everything is in dollars and quite expensive, I could most likely afford to do quite a lot of leisure traveling during the year. 💪🏼👏🏼👌🏼Thanks for sharing your vast knowledge and expertise!🙏🏼 Be blessed 😇
Thanks so much! That's awesome for you, and thanks for your role as a teacher all those years! We love your city, Allie was born in Manhatten!
Thank you 🙏❤️
You are so welcome
Your info and experience is ⭐⭐⭐⭐⭐ and I'm going to share this with family and friends who are feeling like they'll never be able to retire. And with the people who ask me how I'm going to be able to afford full time travel starting in 2025. 🙏🏼
Awesome, thank you!
Great information. Thank you so much. As a single parent …this is a constant worry. I’d be happy to travel to far places 😅
It's great!
Excellent perspective! thank you :)
FWIW, I'm convinced that the retirement style that you are showing us is actually my future. Not only that, the future of millions of people like me and my wife. The difference you make is that with you guys, it is REAL, and POSSIBLE. Thanks for showing the path forward. Robert in NYC.
One important concept to throw into the conversation where appropriate: Disability Considerations. We are ALSO planning on caring for a family member who has zero assets and limited income from USA Social Security Administration SSI. While my wife and I constitute 2 people, the reality is that we must care for extended family, e.g. 3 people.
Bought the course! 100% worth every Penny!!
Thanks so much!!
Nice video. I live between my home in Florida and my home in Oaxaca Mexico. I love living in Mexico!. I am shocked when I go to the US - everything is so expensive! I plan to downsize my Florida presence, and rent the house!
Don’t worry about comparison with others. There are a lot of factors. Health, weather, location etc, income alone is bad index. There should have a unitary living index.
I laughed out loud when you talked about your friends that said they could live like a sultan in Georgia. Still laughing. Great comedic delivery. 😅😅😅
😂 thanks!
Omg! You have the best advice and positive outlook. It's so contagious! How are more people not catching this? I know I am feeling more positive with each video spelling the "Good Life" out for me and my husband. One thing people should also think about is, if you die tomorrow, you worked so long and hard for what? You sacrifice for your family and your family still may not see your hard work was for them. It's OK to be a little selfish and enjoy the fruits of your labors, right?😊
Friends, I bought your course today and it is INSTANTLY paying off with detailed answers to my detailed questions. It's changing my plans for my own UA-cam channel, and I agree that it's silly to let this money sit around untouched. BUY THIS COURSE! DO A UA-cam CHANNEL! Thanks for sharing. Robert in NYC.
Much appreciated! Thanks so much!
Dear you two! i have binge watched all of your videos. did i miss it or you haven't posted that what phone app or software you use to keep track of your money spending? Quicken is not good because it require me to pay yearly. :(
We just use a spreadsheet
Very helpful to see what the medium incomes are. Though I think when you compared by city it helped more. Like when you compared Japan to NYC or Atlanta to California.
You monthly expenses and costs videos really provide a better picture for what us Westerners can expect to spend in these countries. 👍💪💰
Always enjoy your videos.
Here's a video idea 💡 😉: What would happen if 20% of Americans left the States and did "Slow Travel" because its more affordable?🤔 330 million x .2= 66 million. Could the world 🌎 handle that?
Are the statistice AFTER or BEFORE taxes? In Europe and USA the amounts would drop substantially AFTER taxes
I’m 5’2… I’m going to fit right in. 😆
When you have a UA-cam travel channel, are you able to deduct all your flight and lodging costs?
Atlanta is expensive but not as expensive as the West. And it proves what I have always said… the USA is like several different countries. The South is the cheapest… except Florida . The West and the Northeast are like very expensively countries. But the mid west and middle states are less expensive than either coast. Something my husband and I do… when we go somewhere we look at the cost of the houses on Sale. It’s kind of a game now trying to guess what we’ll see.
Yes, so true!
I enjoyed this video but I do have one bone to pick with your presentation. The elephant in the room, I think, is health care. Most of the world has access to some type of national health plan so they avoid fears of becoming destitute due to medical bills. The United States does not have this assurance and we Americans can struggle to feel totally confident about our status in retirement because of the threat of medical bills.
Americans need to emigrate when they reach retirement if they want to enjoy life without financial pressures. The health services in pretty much any other country are as good as, if not better than the US, and are a tiny fraction of the costs. Many countries will give you a visa without you purchasing health insurance - just pay for a test or a surgery if you find you need it. (And it’s likely to cost a lot less than you pay in insurance premiums in the US). Other countries require you to buy insurance but, as an example, in Spain insurance costs less than €100/month for full coverage - tests, doctors, medications, hospitals, surgeries etc etc.
Check out the video regarding surgery Allie had while abroad.
@@oksanatoofor4470have you emigrated to another country to retire? I'm very interested in this prospect
I am 5’ 10” and created quite a stir in Thailand…people handed me their babies to take a picture with the giant woman. Baby takes one look and starts shrieking…!!!
Thank you for sharing, but I was wondering if Allie would feel safe in these areas alone. My husband passed away 5 years ago, so I would be traveling alone.
These information is easy to find ,come on!!
Because...taxes and healthcare costs, plus endless marketing and excessive consumerism drives insecurity in USA.
So what you are saying is that Americans are weak-minded and their money issues are self-inflicted.
I agree.
Love your channel…but where are you getting your income per day info from? In Australia the median income is closer to $200 AUD per day.
gross or net?
U guys have some really good points. Any information on how I can start a utube income channel? I plan to move to Thailand in a few years, just saving more money.
groundedlife.thinkific.com/courses/youtube-after-40
Thank you for sharing, but I was wondering if Allie would feel safe in these areas. As I would be traveling alone.
Yes, very much
I think many people will struggle to retire in the US because medical and housing are incredibly expensive. Most people aren't thinking about relocating even within the US much less abroad.
if the idea is to build an income stream to use as complement for retirement, or at any given point if needed, then building a dividend growth portfolio always buying adding to it could be a good and peaceful path. On the long run consistency and perseverance could guaranty the desired income stream goal with little worries.
the idea is to Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions.
Well said, with the help of the an investment advi-sor, I diversified my 62K portfolio across many markets and in a matter of months, I was able to produce over 356K in net profit from high dividend yield equities, bonds, and exchange-traded funds (ETFs)
Angela Lynn Shilling is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I looked her up, and I have sent her an email. I hope she gets back to me soon. Thank you
The reason I have next to no confidence in retirement is that the Government retroactively changes the rules. As an example when I joined the military I was promised free healthcare for life if I did my 20 years. I now pay for horrible coverage that no doctors want to accept and it reverts to Medicare when I turn 65. How can you plan for something when you don't know what the rules will be next year.
How did you go from where you were to where you are now financially? Do you offer a class?
Medical insurance costs are one of the major expenses if one retires early before age 65. I retired a little early at age 63, but paid over $1000/month for health insurance until I was eligible for Medicare. I’m not sure how some of these folks are retiring in their 40s and 50s?
They get cheap Obamacare policies by managing their income.
In my case im retired military so my healthcare is covered during this period for a small cost.
@@MrSteeDoo Don't you have to have low income for one of these policies?
@@randall8379 no, the premium is based on income
We have to worry about health insurance if we want to stay in the US. Other countries have different options provided. Also I would like to know what the other countries retirement systems are. Still get pensions? A SS equivalent? Very curious.
What happened to Medicare? Medicare Advantage plans with no monthly fees? Aren't they still around? Generally speaking, countries have government pension systems. They seldom pay out anywhere near what Social Security (a government pension) pays. Few people have private pensions. Most Britons receive around £13,000 a year and usually have no other pension. In less developed countries, pensions are pitifully low and not nearly enough to live on. Affluent countries like Australia seem to do well.
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Can you please make a video about how to maintain a US address for legal purposes?
Traveling mailbox or something like that. Also family member or friend is the cheaper route.
@@rosalindhb where I live you need a three pieces of mail (utility, insurance, phone, etc) showing your physical address to renew your driver's license.
@@BeachyKeen-ub9rg yes, this is such an overlooked topic. We have been struggling with this issue to but decided to return back to usa and not have this constant stress of adresses, of Schwab closing us down, or vanguard etc etc... From all research i've done (spent I think at least a hundred hrs on this), none of the traveling mailbox or ipostal1 etc (we have ipostal1) is going to work. The only thing that works is having the address of a friend (if they agree) but the best way is a relative (grown kids or parents, somebody you trust with sensitive mail). We tried the friends route cause our kids are still in colleges and were politely refused. My DL expires next summer so we will return next spring when the lease abroad expires. I'm fed up "lying" and also we miss home. We may be back abroad later in life if we need long term care, as we dont have the money for that in usa. But for actual healthcare we prefer and trust usa the most. Good luck!
I’m just wondering if you two have ever considered private counseling services I would love to have a one on one and have you explain how my circumstance can work I’m just curious if you’ve ever thought about that if not, I’ll be your first client
We are considering doing it in the future.
@@GroundedLifeFinances Count me in as well. Lack of knowledge and the unknown are the biggest enemies.
How can we be the most prepared when we have many living paycheck to paycheck and many have zero in retirement savings with no pension
Familys in asia are living together thus using multiple incomes for one home.
Exactly and not only in ASIA. This is the Latin American pattern. As I said elsewhere as an example, in Argentina most people receive state pensions of about $200 USD per month. They can only survive by living with children or with the help of some government subsidies which are now vulnerable to austerity cuts. Also many retirees live in very small flats and do not have cars.
Yes but cost of living in U.S. is more expensive compared with European countries so you need a higher income?
This is great information, but I wonder if they’re taking cost of living of each country into consideration. For the US, $65 per day is $1,950 per month, which is great if you move to Vietnam, but it would be really tough to make it in the US on that income.
With no debt it's possible to live in many areas of the US on this
@@robb69 True. If you own your home you could live on less.
I agree we compare ourselves to others but we all have different desires of what we want to do in retirement. I just to want to got out and eat and not have to look at my checkbook before I go. I want to maintain my current lifestyle. My concern is cost of living. With a fixed income, will it be able to keep up with inflation and still maintain what I need to retire. I have no desire to move to another country as my children and grandchildren are close by.
Inflation is the problem. US people need to think about this when they vote
My guaranteed public pension plus our combined Social Security at 62 = $12.5k per month for life…all COLA-adjusted. Retirement is great.
VERY few people still have pensions.... good for you...but why brag??
@@lisa408t Not bragging…just describing another more traditional way of funding retirement.
After 2035 it will be a crap shoot whether you will be able to depend on SS. Politicians don't seem to have the will to make any changes to the system to make it solvent.
@@robb69 They will make adjustments when it becomes necessary.