I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Diversify your holdings across several asset types to reduce risk rather than putting all of your eggs in one basket. If you don't know a lot about finances, speak with a financial expert.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
Finding financial advisors like Annette Christine Conte who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
I have an Investment portfolio that's worth over $320k, that's obviously not enough for retirement. I need an average risk investment strategy in stocks that'll give me more yield. Is buying stocks now a goods idea?
As they say, time IN the market is better than trying to time the market. I think you should seek advice from a licensed financial advisor. They’ll give you guide on high risk and low risk investment strategies for your portfolio
Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
Thanks for sharing your experience! I’ve been managing my portfolio myself, but it’s not working out. Do you have any recommendations for a good investment advisor? I could really use some help.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Judith Lynn Staufer” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
I just looked up her website on google and I would say she really has an impressive background in investing. I have sent her an email hope she gets back to me soon. Thanks
I am currently in my 50s and This is no time to taper retirement savings. I want to max out my retirement contributions and I also have another $380k in a savings account that i want to invest in a non-retirement account. Where should I invest it now?
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
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
“ Sophia Maurine Lanting is the coach that guides me, She has years of financial market experience, you can use something else but for me her strategy works hence my result. She provides entry and exit point for the securities I focus on.
High prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
My CFA ’Stacy Lynn Staples’, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Does your chart factor in inflation on these numbers ? Also what about nursing home cost? 3500.00 a month is not nearly enough after age 80 or so is it ?
Even if you have your own house in full ownership? Is life in the US so expensive that $3500 is not comfortable? I mean for 1 person, a couple would have more obviously.
3500 a month is more than enough. Especially if you factor in social security payments with another 2k monthly payments at 62. I don't even spend 2k a month today while I work.
I’m 55 from southeastern Ohio but worked overseas all my life. I have savings of $1,000,000 and I'm ready for retirement, only concerned about the soaring inflation. Is this enough to retire comfortably, or do I need some sort of money management?
I would get money management just in case. You’re only 55. I think the average life execting in the US is 77.5 years, but many people live well into their 80s so that $1 million has to last you all of that and the unforeseen. $1m is a great start though. Good for you!
I’m quite lucky exposed to personal finance at early age, started job 19, purchased first home 28. Going forward, got laid-off at 36 just after covid-outbreak, and at once hired an advisor with grit to help stay afloat. As of today, my portfolio has yielded over 300%, summing up $836k. Stay motivated friends
I'll be kind to leave just her name here ''Katherine Nance Dietz''. She's a renowned figure in the financial sector with over two decades of experience. I'd suggest you research her further on the web.
Don’t walk around thinking you can retire in North Texas on $3500 a month. Property taxes in Collin county easily over $10k alone and homeowners and car insurance are super expensive. Add in groceries and utilities and $3500 is not doable - without a mortgage payment.
For me only income works, you can reasonably get 5% off a combination of money market, bonds, CDs, and some in Closed End Income Funds. $700k @ 5% = $35,000 a year income. I could live on $35k but I enjoy hiking on Appalachian Trail. Depends on your lifestyle.
@@Sfbaytech but your remaining money keeps growing over time too if you leave it in the market, so instead of decreasing it will be increasing in general.
Azul, can you do a deep dive on drawing Social Security from a divorced spouse? How early can you draw? Does it affect my SS? Can you draw them in tandem? And so on. Thanks
And you had to have been married for a certain number of yrs but as i recall that was a pretty low number. Friend of mine retired and was divorced twice. She was able to draw off her first husbands SS vs her own and theyd been divorced well over 30yrs ago
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $2m+ before retirement
As a newbie investor, it’s essential for you to have a mentor to keep you accountable. Kristine Lynn Weber is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Kristine Lynn Weber, for her expertise and exposure to different areas of the market..
I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $200k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.
Without a doubt! Kristine Lynn Weber is a trader who goes above and beyond. she has an exceptional skill for analyzing market movements and spotting profitable opportunities. Her strategies are meticulously crafted on thorough research and years of practical experience.
how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach? and How can i reach her, if you don't mind me asking?
$700,000 is going to grow significantly from age 58 to 62 if you continue working and have your nest egg invested adequately. In this scenario, you can draw down social security from day one and have a more favorable outlook without withdrawals from your nest egg to this point.
I just turned 54 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. How do I best optimize my savings of over $ 200k?
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.
Agreed, I’ve always delegated my excesses to an advisor, since suffering major portfolio loss early 2020 amidst Covid outbreak. I’m now semi-retired and only work 7.5 hours a week with barely 25% short of my $1m retirement goal after subsequent investments to date.
Thanks for sharing your experience! I’ve been managing my portfolio myself, but it’s not working out. Do you have any recommendations for a good investment advisor? I could really use some help.
My CFA, Joseph Nick Cahill is a renowned figure in his field. I recommend searching his name online; you’ll find all his credentials and everything you need to work with a reliable professional. With many years of experience, he is a valuable resource for anyone looking to navigate the financial market.
I have been carrying out research on a good financial mediator for a while now. - I appreciate the implementation of ideas and strategies that result to that sort of progress. Being heavily liquid, I’ll rather not reinvent the wheel, thus the search for a reputable financial advisor.
What are your thoughts on potential tariffs and the chance that tariffs could effect the economy toward a recession and bear market? Also, what are your thoughts regarding the impact of migrant deportation on the workforce and then subsequent effects on cost of goods, produce/groceries, etc. I'm thinking of moving some of my stock-heavy portfolio (which served me very well in recent years) to lower risk investments in anticipation of an economic shift. I already have 15 months of living expenses saved in a conservative Vanguard bond fund. Hope to fully retire in 2 years. Thanks.
why not 3k a month? Im living on 2900 a month now and quite comfortable. House on acres paid for...no debt other than utilities. Saving money every month and contributing to my IRA every year as max. Retiring at 62 god willing.....plus SS. Be just fine.
Personally im not concidering retirement until i have at least 4 mill. But happy to transition to semi retirement at 3 mill woulrking 7 months a year snd travelling for 5 months spening 80-100k (over 5 months)
@@FranciscoDelValle180 Participation awards aren't estates and bestowing one's possessions to their offspring didn't suddenly start with the boomer generation.
@@davidbrayshaw3529 of course not. i meant that we shouldn't sacrifice in our final years just to leave a large inheritance to already spoiled children instead of enjoying our lives fully.
700K with a paid off mortgage and no debt at all is more than enough to retire and you don't have to be that careful. Azul is just giving worst case scenarios to make a point. It's not really financial advice per se.
@@MattyLiam333thats only $21k a yr of you didnt invest it at all and lived to 90. If you can live happily at poverty level thats great, but sounds like a pretty boring ass way to spend the next 32yrs
Using the 4% rule it only ends up being $28k/year gross. You would probably have to pay at least $4k for medical insurance now but way more if Trump gets rid of the the ACA subsidies. If the money are in a traditional retirement, that person is going to pay early withdrawal penalties until the age of 59.5 or be forced to use 72t distributions for 5 years. There might be some taxes as well but not too much with that income. That's poverty level income until SS comes in at 62. If there is a significant pension or disability involved, that would be a different story. But otherwise, that person needs to work until 65 which should allow him to double the savings and get SS and Medicare right away at retirement. The quality of life would be dramatically better.
50 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. I retired with $4 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.
Right alongside you. No debt, early retirement. Children are well-cared for. On 11 acres overlooking the river valley, I'm constructing the house of my dreams. There are many methods to get rich right now, but only real-time professionals are capable of making such high-volume, near-perfect trades.
That's right, I began investing sometime in 2018 and by the end of 2022, I had earned a profit of over $750,000; This can only be carried out by seasoned institutional investors with ISDA agreement. With no prior investing experience or skill, Instead I merely followed the instructions provided by my investment advisor, proving that you don't have to be an expert investor or put in a lot of effort; all you need is a professional who can mentor and guide you for a fee.
I'm glad I stumbled upon this discussion. If you don't mind, could you tell me the name of this investmėnt advisōr who helps you with your investments and how I can contact them?
All these questions “do I have enough” are stupid. The answer in every case is IT DEPENDS. Do you own your house? How much do you spend? What investments do you have? What are your sources of income? Etc etc etc
I’m planning on also retiring with a $750,000 nest egg, i know it isnt a lot to go buy but my aim is to make it last. Which investments would you recommend for steady growth and reliable income?
Depends on how old you are and where you live. $750k isn't a ton to retire on. 1 month T Bills are around 5% right now, which would annualize to around $30k annually or $2600 a month. If you feel like you can live on that where you have that as a safe, medium yield investment. Of course everyone will tell you just buy the S&P500, VOO, etc. since it averages 8% - 12% long term, so maybe allocate less of your nest egg to that for the years the market is down.
Research ETFs and low-cost funds. Consult a financial adviser for personalized guidance on retirement planning and budgeting that accounts for things like inflation and taxes.
Low cost of living location is key. Can be in the USA or not, but I wouldn't pick an expensive market to live in like SF or LA for example. If you are still young you may want to stay investing at 75% or more in the US stock market with mutual/index funds like VTSAX or FSKAX, and hold long term. Do NOT try to time the markets. That is often fatal
@patrickjones That’s right! I agree with you. Working with a fiduciary not just an advisor is crucial to navigating the volatile market and looking to grow your portfolio. i work with Monica Mary Strigle , a NY based Fiduciary. With her guide, my portfolio which is currently diversified $500K in stocks (tech, big Pharma and consumer goods) and $350K in alternatives (private equity, precious metals, cryptocurrencies), boomed significantly! Just search the name & check if she meets your requirements, You’d find necessary details to work with to set up an appointment.
This is similar to my situation. In March I'll be retiring at 55 with no debt and $625k in my retirement accounts. The big difference is that I have $3k per month pension with subsidized health coverage.
To my mind, the $3k per month is the real prize. In 7 years you can add SS to that and you'll be at a sustainable lifestyle without even having to dip into your savings.
The question is will it be enough through out your retirement? The answer is yes and I will tell you why. Someone might also ask, must I have that amount before I retire? The answer to that is No. I will also tell you why if you have the patience through read through my comments
The truth is that you don’t always have to work always. If you have some money, you can make your money work for you. Some people might argue but trust me when I say I have seen it play out and I can tell you is the best decision you can make for yourself.
For 3 years, I have been earning money weekly even without working. All I had to do was to get a trusted advisor and I invested the little money I had and with the payouts I had weekly, my 9-5 became worthless to me. So yes you can call me retired at this point. Just get someone trusted to invest for you and you are good to go.
Wow thanks for this. I have been thinking towards that direction because I’m tired of working everyday and have little to show for it. Can you tell me more about this advisor and also how much do you get paid weekly?
Oh yes. Her name is Larysa Caba and she happens to be one of the best out there. Luckily I came across her contents online and I decided to reach out. I get paid 39k weekly. It might not be big to some. But it definetly is to me.
Are you kidding me? I barely make that in 6 months. I’m guessing I can also get her info online because I’m reaching out to her too. This is definitely something I look forward to doing.
@@wread1982 Congratulations if you have been able to do that successfully. That is not for everyone though. I prefer a steady job and long term hands off investing.
Stop orders are not a fool proof strategy. Neither is buying on the dip. Timing the market doesn't work also. Best strategy, short of a complete depression level event, is steady investing.
@@donh8833 I honestly think stop orders are a sure fire way to lose money. They go against the core advice to buy low and sell high. Stop orders make you sell low.
I don’t have a financial advisor but I strongly disagree with your generalization. They are worth the cost for those that need them and those that actually will listen to them. It is better to pay someone to make money than to not pay them and not make even more than they would cost you.
@ I agree. Someone with the discipline to invest in an appropriately diversified portfolio, and the knowledge that their plan will cover them to the end, and the confidence to know they didn’t miss something that could throw everything off doesn’t need a financial advisor.
They should improve that free tool. The tool assumes you spend same every year… I’m thinking the first 10 - 15 years, it’d probably be consistent year over year. 75 plus, you may not be able to travel, your expenses may slow down considerably… Also, the tools a bit confusing. When he’s talking about expenses… is it 2500 a month just from the portfolio? Wouldn’t you have to factor in social security? So 2500 plus 2000 is 4500 a month… so, close to 55k a year… that’s paying very little in taxes as well. 30 k minus standard deduction would be 16k which you’d pay in the 10 percent bracket. Plus your SS wouldn’t be taxed…
I'm 57 and 9 months. I have a fund worth $850k with $40k remaining on the mortgage. No other debts. And no, I cannot afford to retire - I could not maintain my lifestyle. I'm planning to quit at 60.
Great discussion. I would love to see you run the numbers with higher inflation. Given what we just experienced, the fact that they low ball actual inflation(for example they don't count that products decrease content and raise prices), and the possible tsunami of dollars that may becoming back to the US if the world really reduces it's dollar holdings/trade, future inflation is probably more than 2%.
Great info! Question: What's the best way to reearch fee-only financial advisors in my area? Is there a directory or association I can use as a starting point to figure out who to use?
Thank you for your video mate, Trump won the election… you know,.. I can’t recommend Shellane Maxwell enough! When I first approached her, I was overwhelmed about retirement planning…Thanks to her guidance, I was able to restructure my investments and focus on high-yield options. Within just a year, my retirement fund grew by 55%!
She also helped me create a savings strategy that allowed me to set aside an additional $10000 a month. Now, I feel confident that I can retire five years earlier than I originally planned. If you're serious about securing your financial future, Shellane Maxwell is the one to talk to!
Wow I am suprise to see her mention here, after following her investment strategy, my retirement account grew from $500,000 to $750,000 in just 5 months
8% is pretty aggressive. The stonk market being the defined benefit plan of the 21st century is going to regress to the treasury yield or 2% if we're lucky. More people are going to take money out of stonks to fund retirement.
I guess people want to travel baround the world and look at the wonderful stuff my FATHER owns, of which I’m an heir… I could live easily just as comfortable a millionaire for thirty years on 700,000$ The lust for spending and stuff is never ending for some I suppose…. Kinda like the dung beetle, push around a big pile of shit…. Thinking he’s got it made. Lotta dung beetles in this world
"Retirement isn’t an end goal, but a journey best secured by careful and consistent investments."
Well said! Retirement is the reward of disciplined investing over the long term, not just a destination.
Well said! My adviser guided me through retirement planning, ensuring my investments were strategically positioned for long-term rewards.
That's a great point! Finding a reliable financial adviser would be essential for me to ensure my retirement plans are well-structured.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further.
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Diversify your holdings across several asset types to reduce risk rather than putting all of your eggs in one basket. If you don't know a lot about finances, speak with a financial expert.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
Finding financial advisors like Annette Christine Conte who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
I have an Investment portfolio that's worth over $320k, that's obviously not enough for retirement. I need an average risk investment strategy in stocks that'll give me more yield. Is buying stocks now a goods idea?
As they say, time IN the market is better than trying to time the market. I think you should seek advice from a licensed financial advisor. They’ll give you guide on high risk and low risk investment strategies for your portfolio
Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
Thanks for sharing your experience! I’ve been managing my portfolio myself, but it’s not working out. Do you have any recommendations for a good investment advisor? I could really use some help.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Judith Lynn Staufer” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
I just looked up her website on google and I would say she really has an impressive background in investing. I have sent her an email hope she gets back to me soon. Thanks
The answer is yes.
I am currently in my 50s and This is no time to taper retirement savings. I want to max out my retirement contributions and I also have another $380k in a savings account that i want to invest in a non-retirement account. Where should I invest it now?
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
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
“ Sophia Maurine Lanting is the coach that guides me, She has years of financial market experience, you can use something else but for me her strategy works hence my result. She provides entry and exit point for the securities I focus on.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website… thank you for sharing.
High prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
My CFA ’Stacy Lynn Staples’, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
She appears to be well-educated and well-read. I just ran a Google search for her name and came across her website; thank you for sharing.
Where can we find the tool used in the video?
Am looking for it too…
Does your chart factor in inflation on these numbers ? Also what about nursing home cost? 3500.00 a month is not nearly enough after age 80 or so is it ?
$3500 a month….? Is that realistic? Doesn’t seem like much of a retirement.
After taxes is even less. Poverty level.
Even if you have your own house in full ownership?
Is life in the US so expensive that $3500 is not comfortable?
I mean for 1 person, a couple would have more obviously.
@ it is highly dependent on where you live. Major urban centers, no. Middle and south of the country, maybe.
3500 a month is more than enough. Especially if you factor in social security payments with another 2k monthly payments at 62. I don't even spend 2k a month today while I work.
I’m 55 from southeastern Ohio but worked overseas all my life. I have savings of $1,000,000 and I'm ready for retirement, only concerned about the soaring inflation. Is this enough to retire comfortably, or do I need some sort of money management?
Glad to hear from another buckeye! comfortable retirement depends on your lifestyle...
I would get money management just in case. You’re only 55. I think the average life execting in the US is 77.5 years, but many people live well into their 80s so that $1 million has to last you all of that and the unforeseen. $1m is a great start though. Good for you!
I’m quite lucky exposed to personal finance at early age, started job 19, purchased first home 28. Going forward, got laid-off at 36 just after covid-outbreak, and at once hired an advisor with grit to help stay afloat. As of today, my portfolio has yielded over 300%, summing up $836k. Stay motivated friends
@@garrickphillips-x1z this is huge! your advsor must be grade A, mind sharing more info pleas? in dire need of proper asset allocation
I'll be kind to leave just her name here ''Katherine Nance Dietz''. She's a renowned figure in the financial sector with over two decades of experience. I'd suggest you research her further on the web.
I retired at 19. Worked an entire year and realized I didn’t like it.
Retired to Mommies basement?
Sounds like half the people I know in Portland 😂
Absolutely one can retire with that much unless they live in places like California, Hawaii and New York.
Or Massachusetts. Plus Mexico is 👍👍👍👍
Depends on debt. If your mortgage is paid off and you don’t have dependents, probably can.
Don’t walk around thinking you can retire in North Texas on $3500 a month. Property taxes in Collin county easily over $10k alone and homeowners and car insurance are super expensive. Add in groceries and utilities and $3500 is not doable - without a mortgage payment.
Good info, Thank You.
For me only income works, you can reasonably get 5% off a combination of money market, bonds, CDs, and some in Closed End Income Funds. $700k @ 5% = $35,000 a year income. I could live on $35k but I enjoy hiking on Appalachian Trail. Depends on your lifestyle.
You haven’t considered inflation over time.
@@Sfbaytech but your remaining money keeps growing over time too if you leave it in the market, so instead of decreasing it will be increasing in general.
Azul, can you do a deep dive on drawing Social Security from a divorced spouse? How early can you draw? Does it affect my SS? Can you draw them in tandem? And so on. Thanks
Afaik you can pick one, whichever is more, but u cant have both
And you had to have been married for a certain number of yrs but as i recall that was a pretty low number. Friend of mine retired and was divorced twice. She was able to draw off her first husbands SS vs her own and theyd been divorced well over 30yrs ago
Does this $700k include homes?
Age 80 with over a million. I'm buying that 911. LOL
You should, though its not that special. I got an all aluminum, mid-engined Audi R8. Much more special and just as fun to drive :)
Azul, please do a video talking about your thoughts about private money lending, as an investment option.
You don’t need an investor advisor to do the math between total expenses and total income with factoring inflation
That last scenario almost hit my wife and I on the head, I’ll will have a modest pension tho. But that gives us a lot of hope. Thanks.
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $2m+ before retirement
As a newbie investor, it’s essential for you to have a mentor to keep you accountable.
Kristine Lynn Weber is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Kristine Lynn Weber, for her expertise and exposure to different areas of the market..
I don't really blame people who panic. Lack of
information can be a big hurdle. I've been
making more than $200k passively by just
investing through an advisor, and I don't have
to do much work. Inflation or no inflation, my
finances remain secure. So I really don't blame
people who panic.
Without a doubt! Kristine Lynn Weber is a trader who goes above and beyond. she has an exceptional skill for analyzing market movements and spotting profitable opportunities. Her strategies are meticulously crafted on thorough research and years of practical experience.
how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach? and How can i reach her, if you don't mind me asking?
$700,000 is going to grow significantly from age 58 to 62 if you continue working and have your nest egg invested adequately. In this scenario, you can draw down social security from day one and have a more favorable outlook without withdrawals from your nest egg to this point.
A simple and safe options strategy will give you all the income you will ever need, and all without even touching the principal.
I just turned 54 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. How do I best optimize my savings of over $ 200k?
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.
Agreed, I’ve always delegated my excesses to an advisor, since suffering major portfolio loss early 2020 amidst Covid outbreak. I’m now semi-retired and only work 7.5 hours a week with barely 25% short of my $1m retirement goal after subsequent investments to date.
Thanks for sharing your experience! I’ve been managing my portfolio myself, but it’s not working out. Do you have any recommendations for a good investment advisor? I could really use some help.
My CFA, Joseph Nick Cahill is a renowned figure in his field. I recommend searching his name online; you’ll find all his credentials and everything you need to work with a reliable professional. With many years of experience, he is a valuable resource for anyone looking to navigate the financial market.
I have been carrying out research on a good financial mediator for a while now. - I appreciate the implementation of ideas and strategies that result to that sort of progress. Being heavily liquid, I’ll rather not reinvent the wheel, thus the search for a reputable financial advisor.
What are your thoughts on potential tariffs and the chance that tariffs could effect the economy toward a recession and bear market? Also, what are your thoughts regarding the impact of migrant deportation on the workforce and then subsequent effects on cost of goods, produce/groceries, etc. I'm thinking of moving some of my stock-heavy portfolio (which served me very well in recent years) to lower risk investments in anticipation of an economic shift. I already have 15 months of living expenses saved in a conservative Vanguard bond fund. Hope to fully retire in 2 years. Thanks.
$3k a month? Do they live in a trailer park? Thats not retirement...its subsistence.
why not 3k a month? Im living on 2900 a month now and quite comfortable. House on acres paid for...no debt other than utilities. Saving money every month and contributing to my IRA every year as max. Retiring at 62 god willing.....plus SS. Be just fine.
Personally im not concidering retirement until i have at least 4 mill. But happy to transition to semi retirement at 3 mill woulrking 7 months a year snd travelling for 5 months spening 80-100k (over 5 months)
Good luck to u working
Dying with $3million is not good. You should enjoy your money.
It's not so bad if you started with 50 million!
If you've got kids, it's nice to leave some sort of financial legacy if you can.
@@davidbrayshaw3529that boomer mindset of giving their kids everything is how we’ve wound up with entitled millennials and gen z.
@@FranciscoDelValle180 Participation awards aren't estates and bestowing one's possessions to their offspring didn't suddenly start with the boomer generation.
@@davidbrayshaw3529 of course not. i meant that we shouldn't sacrifice in our final years just to leave a large inheritance to already spoiled children instead of enjoying our lives fully.
The fact that $700k isn’t enough unless you’re very careful is crazy.
700K with a paid off mortgage and no debt at all is more than enough to retire and you don't have to be that careful. Azul is just giving worst case scenarios to make a point. It's not really financial advice per se.
Why?
Add retired military & retired civil service pensions plus SS and it's more than enough. Retiring 31 Dec age 62.
@@MattyLiam333thats only $21k a yr of you didnt invest it at all and lived to 90. If you can live happily at poverty level thats great, but sounds like a pretty boring ass way to spend the next 32yrs
Using the 4% rule it only ends up being $28k/year gross. You would probably have to pay at least $4k for medical insurance now but way more if Trump gets rid of the the ACA subsidies.
If the money are in a traditional retirement, that person is going to pay early withdrawal penalties until the age of 59.5 or be forced to use 72t distributions for 5 years. There might be some taxes as well but not too much with that income. That's poverty level income until SS comes in at 62.
If there is a significant pension or disability involved, that would be a different story. But otherwise, that person needs to work until 65 which should allow him to double the savings and get SS and Medicare right away at retirement. The quality of life would be dramatically better.
No!
50 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. I retired with $4 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.
Right alongside you. No debt, early retirement. Children are well-cared for. On 11 acres overlooking the river valley, I'm constructing the house of my dreams. There are many methods to get rich right now, but only real-time professionals are capable of making such high-volume, near-perfect trades.
That's right, I began investing sometime in 2018 and by the end of 2022, I had earned a profit of over $750,000; This can only be carried out by seasoned institutional investors with ISDA agreement. With no prior investing experience or skill, Instead I merely followed the instructions provided by my investment advisor, proving that you don't have to be an expert investor or put in a lot of effort; all you need is a professional who can mentor and guide you for a fee.
I'm glad I stumbled upon this discussion. If you don't mind, could you tell me the name of this investmėnt advisōr who helps you with your investments and how I can contact them?
@@Fred-w7tI have had 10x the market success with Fred Murray. That’s the guy to use. 😂
WARNING: Never Never Never trust post about magic advisors with hot returns. They are always scammers that bank on people's greed and desperation.
All these questions “do I have enough” are stupid. The answer in every case is IT DEPENDS. Do you own your house? How much do you spend? What investments do you have? What are your sources of income? Etc etc etc
I’m planning on also retiring with a $750,000 nest egg, i know it isnt a lot to go buy but my aim is to make it last. Which investments would you recommend for steady growth and reliable income?
Depends on how old you are and where you live. $750k isn't a ton to retire on. 1 month T Bills are around 5% right now, which would annualize to around $30k annually or $2600 a month. If you feel like you can live on that where you have that as a safe, medium yield investment. Of course everyone will tell you just buy the S&P500, VOO, etc. since it averages 8% - 12% long term, so maybe allocate less of your nest egg to that for the years the market is down.
Research ETFs and low-cost funds. Consult a financial adviser for personalized guidance on retirement planning and budgeting that accounts for things like inflation and taxes.
Low cost of living location is key. Can be in the USA or not, but I wouldn't pick an expensive market to live in like SF or LA for example. If you are still young you may want to stay investing at 75% or more in the US stock market with mutual/index funds like VTSAX or FSKAX, and hold long term. Do NOT try to time the markets. That is often fatal
@patrickjones That’s right! I agree with you. Working with a fiduciary not just an advisor is crucial to navigating the volatile market and looking to grow your portfolio. i work with Monica Mary Strigle , a NY based Fiduciary. With her guide, my portfolio which is currently diversified $500K in stocks (tech, big Pharma and consumer goods) and $350K in alternatives (private equity, precious metals, cryptocurrencies), boomed significantly! Just search the name & check if she meets your requirements, You’d find necessary details to work with to set up an appointment.
I looked up monica and found her consulting page. I’ve got to say her credentials are truly impressive! I've scheduled a call to discuss further
This is similar to my situation. In March I'll be retiring at 55 with no debt and $625k in my retirement accounts. The big difference is that I have $3k per month pension with subsidized health coverage.
yes
@@daved2023 proceed with caution because I retired at 57 and am bored as hell
To my mind, the $3k per month is the real prize. In 7 years you can add SS to that and you'll be at a sustainable lifestyle without even having to dip into your savings.
Same here. Spouse and I have 600k investments. We have two pensions paying a combined 8k with a COLA. We're just into our 40s.
You gotta have at least $1M for every year prior to 65 if you want to retire early.
The question is will it be enough through out your retirement? The answer is yes and I will tell you why. Someone might also ask, must I have that amount before I retire? The answer to that is No. I will also tell you why if you have the patience through read through my comments
The truth is that you don’t always have to work always. If you have some money, you can make your money work for you. Some people might argue but trust me when I say I have seen it play out and I can tell you is the best decision you can make for yourself.
For 3 years, I have been earning money weekly even without working. All I had to do was to get a trusted advisor and I invested the little money I had and with the payouts I had weekly, my 9-5 became worthless to me. So yes you can call me retired at this point. Just get someone trusted to invest for you and you are good to go.
Wow thanks for this. I have been thinking towards that direction because I’m tired of working everyday and have little to show for it. Can you tell me more about this advisor and also how much do you get paid weekly?
Oh yes. Her name is Larysa Caba and she happens to be one of the best out there. Luckily I came across her contents online and I decided to reach out. I get paid 39k weekly. It might not be big to some. But it definetly is to me.
Are you kidding me? I barely make that in 6 months. I’m guessing I can also get her info online because I’m reaching out to her too. This is definitely something I look forward to doing.
Why retire when you can keep swing trading your capitol using stop orders for risk management
That is a perfect way to flush all the money down the toilet.
@ only if you don’t use stop orders and only if you don’t research high volume stocks. I’ve been swing trading for 33 years
@@wread1982 Congratulations if you have been able to do that successfully. That is not for everyone though. I prefer a steady job and long term hands off investing.
Stop orders are not a fool proof strategy. Neither is buying on the dip. Timing the market doesn't work also. Best strategy, short of a complete depression level event, is steady investing.
@@donh8833 I honestly think stop orders are a sure fire way to lose money. They go against the core advice to buy low and sell high. Stop orders make you sell low.
Yes, and Yes
What program or website did you use? I want to try it out. Thanks
I retired at 55. How? I didn’t have a financial advisor stealing my money. They are all crooks. Fire him now!!!!!!!
Financial Advisors can give you some great advice.
Thanks
I don’t have a financial advisor but I strongly disagree with your generalization. They are worth the cost for those that need them and those that actually will listen to them. It is better to pay someone to make money than to not pay them and not make even more than they would cost you.
55% of financial advisors can't beat the S&P after you minus the fees
@ I agree. Someone with the discipline to invest in an appropriately diversified portfolio, and the knowledge that their plan will cover them to the end, and the confidence to know they didn’t miss something that could throw everything off doesn’t need a financial advisor.
They should improve that free tool. The tool assumes you spend same every year… I’m thinking the first 10 - 15 years, it’d probably be consistent year over year. 75 plus, you may not be able to travel, your expenses may slow down considerably…
Also, the tools a bit confusing. When he’s talking about expenses… is it 2500 a month just from the portfolio? Wouldn’t you have to factor in social security? So 2500 plus 2000 is 4500 a month… so, close to 55k a year… that’s paying very little in taxes as well. 30 k minus standard deduction would be 16k which you’d pay in the 10 percent bracket. Plus your SS wouldn’t be taxed…
I'm 57 and 9 months. I have a fund worth $850k with $40k remaining on the mortgage. No other debts. And no, I cannot afford to retire - I could not maintain my lifestyle. I'm planning to quit at 60.
Similar to you, same age, no more mortgage though and 1.2 million in accounts, but live in high tax New York
yes
Great discussion. I would love to see you run the numbers with higher inflation. Given what we just experienced, the fact that they low ball actual inflation(for example they don't count that products decrease content and raise prices), and the possible tsunami of dollars that may becoming back to the US if the world really reduces it's dollar holdings/trade, future inflation is probably more than 2%.
Great info! Question: What's the best way to reearch fee-only financial advisors in my area? Is there a directory or association I can use as a starting point to figure out who to use?
Thank you for your video mate, Trump won the election… you know,.. I can’t recommend Shellane Maxwell enough! When I first approached her, I was overwhelmed about retirement planning…Thanks to her guidance, I was able to restructure my investments and focus on high-yield options. Within just a year, my retirement fund grew by 55%!
She also helped me create a savings strategy that allowed me to set aside an additional $10000 a month. Now, I feel confident that I can retire five years earlier than I originally planned. If you're serious about securing your financial future, Shellane Maxwell is the one to talk to!
She mostly interacts on Telegrams, using her name
@shellanemaxwell
she’s verified
Wow I am suprise to see her mention here, after following her investment strategy, my retirement account grew from $500,000 to $750,000 in just 5 months
Thanks to her tax strategies, I saved over $55,000 last year, which I reinvested into my retirement account
If someone has to ask someone else if they can retire, thats a problem.
I like the videos on more moderate incomes.
8:38 you mean 20% chance someone would have to make adjustments. (Not 80%)
8% is pretty aggressive. The stonk market being the defined benefit plan of the 21st century is going to regress to the treasury yield or 2% if we're lucky. More people are going to take money out of stonks to fund retirement.
I guess people want to travel baround the world and look at the wonderful stuff my FATHER owns, of which I’m an heir… I could live easily just as comfortable a millionaire for thirty years on 700,000$
The lust for spending and stuff is never ending for some I suppose…. Kinda like the dung beetle, push around a big pile of shit…. Thinking he’s got it made. Lotta dung beetles in this world
Commercial at 1 minute mark again? What the fuck?
Get youtube premium
@ I thought about that, but I already pay for YT-TV, can’t afford both.
$3500 a month isn't a great retirement. That's basically poverty level.
Not outside of the US. Mexico, South America, Asia. Anywhere not in the US you would be well if with $3500.