This generation says it will take an economic ‘miracle’ to retire
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- Опубліковано 12 жов 2024
- Ramsey Solutions personal finance expert and 'The Ramsey Show' co-host George Kamel shares his top tips to help boost your retirement on ‘Mornings with Maria.’
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The American dream now is being able to afford food
Wow! That is such a slap to the face
the american dream for me is to find employees to pay $125 an hour to change oil
@@SgtJoeSmith where do I apply. I have 5 years experience in fleet maintenance and 3 in collision repair
@@FlatTireGarage you willing to pass out flyers and work on lawn mowers for that pay? cause thats the problem. people hear flyers and lawn mowers and run. also you will need about $500 in tools that you can get from harbor freight if you dont already have them. wrenches, pliers, screw drivers, sockets, basic stuff. if dont have any i got extra people can trade work for. work 2 days in trade for tools.
mowerbarn period square period site. also work on atvs, scooters, motor cycles, generators, rc cars, go karts, golf carts, tractors, trailers, spray in bed liner. enough work you can make $200k a year if you willing to work those hours. no one in 10 years needed to or was willing to work more than 25 hrs a week.
bentonville arkansas. home of walmart. just down the street from new walmart home office being built off i49. ARDOT gonna widen road and put in stop light by us cause 10,000 cars a day pass by.
people laugh but place been paid off since obama 1st became president. on well and septic and propane so utilities are only $500 a month. phone, internet, electric. That's the overhead.
computers and video games at each work station. atari, nintendo, snes, n64, sega, etc. play games if having to wait for next customer. listen to games or movies or podcasts working. fancy new grill with rotisserie and cast iron and stainless steel cook wear to cook lunch with full size fridge and freezer in shop. or 10 min or less to at least 18 places to eat.
@@FlatTireGarage you willing to pass out flyers and work on lawn mowers for that pay? cause thats the problem. people hear flyers and lawn mowers and run. also you will need about $500 in tools that you can get from harbor freight if you dont already have them. wrenches, pliers, screw drivers, sockets, basic stuff. if dont have any i got extra people can trade work for. work 2 days in trade for tools.
"They are not interested" we can't afford it.
Exactly
FACTS!!!
Yes, I know so many young people who do not even think about a house. They have it in their head cannot afford it. Plus paying 2 k a month to rent does not help.
The US needs to adress the most important issue; businesses buying up all the homes. Its really bad and trickles down to everything
Then stop living in blue overpriced cities. Your problems are your fault
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
Mind if I ask you to recommend this particular coach you using their service?
Kathie Daisy Bosco Constable 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..
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
Don't simply retire from something; have something to retire to..
Why?
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
I'm surprised that you just mentioned and recommend Mr Brian Nelson. I met him at a conference in 2018 and we have been working together ever since.
This global recession/collapse might end up being a part of us for a very long time. With inflation currently at about 3%, my primary concern is how to maximize my savings/retirement fund of about $680k which has been sitting duck since forever with zero to no gains.
I'd advice you read up some good books on finances and investing, or just you get yourself a financiaI-advsor that can provide you with entry and exit points on the shares/ETF you focus on.
@@purplebliss6875
A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure.
@@Andreallln I've been looking to switch, but have been kind of relaxed about it. Could you recommend your wealth manager? I'll be happy to use some help.
@@rebeccaartgallary
' Sharon Crump Cline is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
@@Andreallln I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
With 50% of your income gobbled up by taxes and fees, it's awfully hard to save anything.
Taxes are robbing the younger people. Total tax liability should be in the 20-25% range. Also the paltry IRA limits. A couple of thousand a year? Should be NO limit. If one wants to put $20k into a retirement account they should be able to do it and pay NO taxes on it. Also return to first in first out for tax liability. That is how it was when the IRA started.
Hu? If you are paying that much in taxes you have to be making good money. I make over 6 figures, and all taxes federal, state, local, social security, Medicare hit me for a total of around 29%. If you pay 50% you have to be around 350 at a minimum.
We are gunna die working, and that friends is the New American Nightmare.
Yepp
@@andrewcarr2416 Obamacare
No, you need to leave the country and things will get better.
@SlackersIndustry your name sums up everything wrong with your generation
Did she just say young people should max out their 401k…. Lady we don’t have a spare $23,000 rent is $15,000 a year for a dump
Most older people don't either.
I do but it would be a boring existence. Id say 10k a year is more reasonable
@@drblitz3092 I do too and I work in manufacturing. It can be done. I have a 1,000 square feet house, a paid for automobile, and no debt.
@@drblitz3092 I’m getting by maxing my Roth but I need to get an apartment only way it’s going to fit comfortably in my budget is the promotion I’m gunning for and another full time job
guess youll have to stop smoking and drinking
I had initially planned to retire at 62, work part-time, and save money, but the impact of high prices on various goods and services has significantly disrupted my retirement plan. I'm worried about whether those who experienced the 2008 financial crisis had it easier than I currently am. The volatility of the stock market is a concern as my income has decreased, and I fear that I won't be able to contribute as much as before, potentially jeopardizing my retirement savings.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Mind if I ask you to recommend this particular coach to you using their service?
Stacy Lynn Staples is the licensed advisor I use, Just research the name. You'd find necessary details to work with to set up an appointment.
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 resume.
Fantastic video🔥🔥! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??
Trading on a demo account can definitely feel similar to the real market, but there are some differences. It's important to remember that trading involves risks and it's normal to face looses sometimes. One piece of advice is to start small and gradually increase your investments as you gain more experience and confidence. It might also be helpful to seek guidance from experienced traders or do some research on different trading strategies.
If you are trading without a professional guide... Ah, I laugh, because you will stay where you are or even suffer huge losses that will prevent you from trading, this has been one of the biggest problems for new traders.
I think l'm blessed if not I have met someone who is as spectacular as expert mrs Janet..
Highly recommended🙌
Wow, I'm surprised to see Janet mentioned here as well. I didn't know she had been kind to so many people
I'm also a huge beneficiary of her..
I thought myself and my family were
the only ones enjoying Janet
trade benefits. Janet strategy has brought me great success. I have never seen a strategy as consistent as her
We started saving in 1984, a little bit with each paycheck, every month, month after month, year after year, decade after decade. We retired in 2016. Life is good.
I am 53 and retired at 50. 1 thing I did do to retire early was to get out of the 401K and IRA programs. Bought rental real-estate and I am now a Limited Partner in about 1500+ units from collabrative efforts in the fund my estate planner has me invested in. I do not work.
For retirees and those close to retirement, I believe it's particularly challenging. All those years of labor only to lose it all to a problem you weren't responsible for, my regrets to everyone retiring during this time.
My wife and I live off of our 401K. We don't work. I recommend highly to everyone to build your 401K or Roth IRA's as an alternate revenue stream in retirement to your Social Security. An observation on 401K's is when it gets over 300K it starts to accelerate. When you get over 500K it can really accelerate as the stock market grows.
If I may ask, as in withdrew all of the money from the 401K and IRA programs? If so, what was your strategy behind that decision? Thank you.
Carol Vivian Constable is the licensed advisor I use and im just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
And that's called bidenomics
My TSP is up nearly 18% YTD.
Unrealized capital gains tax would strip thousand s of acreage from farm lands !
It would also be a 2nd property tax in essence, the house we live in is an unrealized capital gain.
If there is unrealized capital gains tax, there should be unrealized loss credits
I hope so. These land hoarders inherited everything
What farmer has 100 million in land?
@@jasondeaver2117the people that think that the unrealized capital gains tax will only effect those with over 100 million in assets are extremely naive!
You’re first $100,000 is the hardest.
Yes. But the habits it create is worth a million.
Your* first. Not you're
And it's not true. 100k is easy. The first mill by 30 is the epic struggle that will determine how well you live or not
@petrofx not true at all. Most ppl never stick to investing and never reach their 100k. That's why it's the hardest. After that ur portfolio accelerates faster and faster afterwards. The goal isn't 1million by 30yo. although it's doable. Most ppl don't start caring about investing early enough in their lives to make this milestone possible by 30.
@dividendapacolypse6060 look at average and median net worth values for people in their 20s and 30s. You'll see 100k is the average in your 20s and 250k plus in your 30s. The median is 10k and 40k.
100k isn't the barrier. It's those with balls and investment risk to make it to a mill
This is the most out of touch reporting I’ve ever witnessed.
10 years ago I graduated highschool and and got a job in construction making $10 an hour. My childhood home cost around $165k, groceries cost about $100 a month for me and I was able to buy a decent, albeit older car for about $5000.
Flash forward 10 years.
I have stayed off drugs, stayed out of credit card debt, got a technical degree paid for out of pocket. I have now been working in a professional job for 4 years and I make about $36 an hour. Debt free and with a 740 credit score I can’t afford to own a home.
My childhood home is now $400k. Groceries for me now cost $500 a month. Buying a used car is now $25-30k.
I’m not zooming around Europe or living some lavish lifestyle. I’m able to contribute my 5% of income to my 401k and that’s about it. But there’s ZERO way for gen Z to save for retirement and get into home ownership even if we do all the right things.
Housing has become a rigged game. Bankers, investors, mortgage brokers, and realitors have all driven up house prices. Many markets have local governments who control how many houses can be built. The fees that go to cities and counties can be 30 percent of the new house price. Something needs to change soon. Without home ownership, we have no middle class.
Its not just house prices, its insurance, interest, maintenance, and we are more migrant. We move a lot more within 5 years for many reasons.
I paid 100 bucks a acreage in the 80s today it’s worth 10k an acre.. do the math ..
You made a good investment.
I bought an acre 7 years ago for 11k. Somebody offered me 35k 5 years later lol. I kept it. Too hard to find.
Cool story.
Supply and demand. Population allot higher and means less land to go around.
All the government spending the last 25 years didn't help.
It's to help them fill their pockets not to help the poor
@@SlackersIndustry politians made the 2 million they need to retire, but not for millions of other that needed the help.
Throw in Social Security is probably done by 2040.
only way to retire is to essentially become a hermit and no life your job for 10 years, but then say goodbye to kids and a family. in the US you now have a choice: work for 30 years and retire with the savings or have kids and never retire. the truth is, we need to bring back the pension or some form of it. we tried the whole "fund your own retirement" thing with 401k and it's a demonstrable failure. it's time for something else.
I had no life and was lucky to be employe in one place for 9 years. I saved and invested and now my early retirement is secured. It can be done and people just need to be a little more creative or disciplined. It might take a few more years than 10 years and I admit I did my building during the best market run ever, but success also depends on whether or not we can resist the tempations and create a more intentional life of simplicty. Excessive material consumption is not a right, however it's ok to spend on the one or two things that really make us happy.
Easy for rich people to save. I am still poor, i can only cut so much expenses. With rent, food, utilities, insurance im barely making it. Stop inflating the dollar. I need atleast 12% raise yearly just to keep up.
My corporate company gives us a 53cent rise each year we come back so thankful. 😂🙏 and if you switch departments back down 2 the bottom starting wage! 😭 I’ll be investing for my retirement in no time trust me!
I grew up in a single parent household poor and on welfare. I did not graduate from college but worked hard, saved and invested. I became a millionaire in my 40’s. I saw a lot of people around me driving much nicer cars and taking lavish vacations. We did a lot of staycations.
You need to leave the country and find a cheaper place to live, life will improve 10x, if you stay things are gonna get worse. Good luck
Mine owned thousands of acres in the 1880 s Worked the land for capital.. we aren’t billionaires but we are ok .. never sell family land ..
No more agriculture exemptions
We need 4 things for home ownership and we have none of them:
1) Affordable homes
2) Livable salary that keeps with inflation
3) Stable employment
4) Financial literacy
The same major shareholders of Fox News are the main players in Bidens cabinet.
Get a job loser
Maga puxxy
1) sorry you have to pay your employees what they are worth to build a house for you
2)wages have outpaced inflation last 50 years, you just spend more on crap you dont need like cable, streaming, gym, internet, cell phones, etc
3)be a stable employee. i havent had a stable employee in 10 years that worked 40 hours and completed assignments. every friday some relative had a stroke or heart attack or died.
4)I agree. I learned that in iowa schools in 80s.
@@gowine504 Best not vote Democrat
It seems like this generation is optimistic about the potential for an economic boom, but with rising costs of living and inflation, retiring comfortably still requires careful planning
They say it’ll be an economic miracle, but with the uncertainty in markets and changing job landscapes, it feels like achieving that miracle will take more than just time-it’ll need smarter investments
While technological advances and new industries could indeed create wealth, I wonder if the traditional retirement plans will be enough to support us, or if we’ll need entirely new strategies.
It’s inspiring to hear people talk about the future like that, but do you think we’re adapting quickly enough to the economic challenges? Healthcare costs, housing, and even the state of pensions seem unpredictable.
If this generation really does get to experience an economic miracle, I think it’ll be because they’ve embraced innovation and diversified their investments beyond what previous generations did.
I hope they’re right about this economic miracle because with so many changes in the global economy, it feels like the path to retirement is constantly shifting!
In this country a lot of it is down to the lack of financial literacy quite often.
its not that we dont value it its that they system has been bent against us form ever being able too.
Houses and automobiles are bigger than ever. Families are smaller.
You need to work for Blackrock Vanguard, and Statestreet and buy their stock. Everything else is a loser.
@@francismarion6400 plenty of other good stocks to buy.
@@francismarion6400 hello handsome
@@francismarion6400But that is part of the problem. You give blackrock and vanguard money to buy up all the property thereby pricing everyone else out of the market. And when they have a monopoly, they raise the rent even more, we are screwed.
That’s why we need a strong leader Trump back in office that understands business. I don’t care about his personal life. I care about what he does for the country
TRUMP is a spoiled brat who pissed his inheritance away
Bha ha ha ha ha ha ha ha ha ha ha ha ha ha!!!!! 🤣🤣
@@dutarus1you sound like a clown
He can get back in office, and things still will not change for some people.
@TexasMade903 Except for the top 1%. More tax breaks for the undeserving top corporate 🐖.Small businesses won't benefit from his policies.
This administration is putting so many families in difficult situations, And the low income people in our country suffer to survive I thank Isia Gomez, imagine investing €1000 Cryptocurrency and receiving €10,250 in 3 days.
Wow, I know Isia. The strategy maintains a unique perspective and is very transparent with its investors.
Regardless of the situation, she is always consistent with her business methods.
I would like to be informed, I have come across this name before and now I am interested...how can I
contact her
Investing is better with an expert trader who knows it well, where and how to invest, who doesn’t know Isia could be missing greatly
she often interacts in
Telegrams, using the user below
@Msisia. ✍️✍️
When I showed a couple of my granddaughters how they were pissing away about $2500 per year on drinks at the coffee hut they just looked at me and shrugged 🤷♀️ ! So…….
Did that in my late 20s. I did the math one day and realized why Starbucks is called Starbucks. 😮
Been making my own coffee since.
My son said his friends in high school made fun of his 2000 Honda Accord. The car was given to him by his grandmother. She rarely drove and the car was always in the garage. It looks brand new and she had everything in the car repaired before giving it to him with under 100,000 miles. He drives it to school and is content. He has enough money saved to buy a new car but would rather invest the money in stocks. His portfolio is already up 30% for the year thanks to Nvda and Meta. He also has a trust fund that he cannot touch until he graduates from college. I told him to ignore his friends as he has enough to buy almost any car that he wants. It is better to save and invest than let others tempt you into spending. He has financial security and we have saved enough to pay for his college tuition. He will graduate with a STEM major and zero debt. He will also have a six figure savings at that point to start his life as an adult.
Houses and automobiles are bigger than ever. Families are smaller. People eat at restaurants more.
Lol. I never eat at restaurants.
i see down town restaurants packed full at 9pm still. $10k a month rent places. i never went in to see prices but just imagine what they charge to make money with $10k a month rent.
It boggles my mind that there is 1.75 trillion in outstanding student loans. And the same people are squalling about their inability to retire in 30 years! What in the heck did you study in college? My 18 year old invests better than that.
i make $175 an hour as a 9th grade drop out changing oil on lawn mowers at home
College students were too busy wasting their time protesting.
@@SgtJoeSmith ok...youre a troll kid.
@@Duke_of_Prunes if u went to college you would realize how much of a joke your statement is. I have a career and im finishing a degree to career change you know what they’re saying you have to do to get a job… network. The average company has 1000 applications for 1 position. We now have people with two degrees applying for entry level positions. This country is cooked
Yes, both of my kids worked in high school and college. Both invested monthly into their Roth IRAs. I would let them know when there were down days in the market so they could go shopping for stock deals or add to the S&P 500 holdings.
They will live off the bank of Daddy and Mommy.
Soo.... In other words. He finds better stuff on eBay than you do?
If Daddy and Mommy inherited nothing from their Daddy and Mommy then it's perfectly fine. But, if Daddy and/or Mommy inherited alot then it's just pure lying, hypocrisy at that that point.
You need a gameplan. Realizing you are behind is the first step. Worked for me in my 30's.
YES! The FIRE movement/ saving, investing in indexfunds and living frugally will be the new norm
In my early 20’s I befriended the janitor at my company. He showed me his retirement account and company stock purchase plan. He was a multimillionaire from buying company stock over 30 years. He also bought his mother a house in Mexico and a house for his daughter in San Carlos. He told me to work hard, save and invest. I worked as much OT as I could usually 100 hours or more per month. I saved and invested it over 25 years to make my first million. By age 50 I was a multimillionaire and switched to working part time. I never graduated from college either.
Family wealth takes decades!
Family wealth should be taxed for fairness sake.
I started my kids retirement plans when they were in high school. By the time they graduated from high school they each had $20,000 saved. When I was a teen, I never had more than $350 in my bank account. I always spent the money as soon as the check came in.
Speaking from experience. It’s not the credit cards. Its the cost of rent, food and other essentials. It is impossible to own a home, given the hyper inflated real estate prices as well.
Maybe move to a less expensive location
The number one problem is you don't save for retirement.... you invest for retirement.... savers are losers in the end....
Invest when most can’t afford to get by
@@DieselpwrWrong. 62% of Americans are investing in the stock market today.
@@Jimmy-yu9xy Is that why 62% percent of them have record credit card debt when they go bankrupt they won’t lose the money if so that needs a law to make them stop playing the system
@@Jimmy-yu9xy Skipping the credit card payment so they can keep investing working the system then go bank rupt so they don’t have to pay it well that needs a law so they can garnish it
Idk. I saved up a chunk over 40 years.
Compound interest!
Nobody got time for that!
Bingo!
There were three legs to financial security in retirement. An investment, IRA or 401k, a company pension and social security. None of those look practical for the younger generation. Pensions are a thing of the past, social security is racing towards insolvency and people with average income may not be able to afford to invest. That de-motivates and de-incentivizes workers.
Want a pension? It’s easy. Get a government job. They almost all have pensions. Now shut up and go find that job! 😂
I know someone who is a corrections officer. In 20 years (he’s been working since his early 20s), he’ll have a decent pension he worked hard for.
@@edhcb9359Local government job pensions are just more unfunded liabilities. Taxpayers are on the hook for them. Government will bleed you dry one way or another.
@@blazetino5713I work as correctional officer for the federal prison system. I'm 40, however when I retire I'll have my civilian pension, military pension, va disability compensation, TSP, and social security. The smartest thing I ever did was join the military right out high school. The only regret I have is not investing early in my military TSP account.
@@TexasMade903 that’s awesome, good for you. And hey, we can’t always make perfect choices.
Making the Dollar Great Again would help!
The Federal government has a responsibility to citizens and legal immigrants to maintain a strong and stable currency.
Government is failing!
Lol. The US dollar is still in the top 10 currencies as it always has been.
@@Jimmy-yu9xy Inflation is destroying the dollar.
Do you think the government is doing a good job and blame businesses for price gouging?
@@Jimmy-yu9xyThat's not a good scenario.
@@Jimmy-yu9xyYes, it is still the top currency, but for how much longer? The petrodollar is becoming the past as the saudis now take other currencies. Many countries are trying to move away from the dollar due to it being used to sanction other countries which puts their economies at risk. The government is overspending my MASSIVE amounts with ZERO accountability. They are both taxing citizens more while running the money printers hot. More currency in circulation means devaluation of the dollar and higher inflation. At this rate, we could soon go into hyperinflation. The dollar is going to become a "hot potato" and no one will want to hold onto it when it falls. That is why central banks across the world are using dollars to buy precious metals in record amounts these last few years. The average length of time for a currency is about 200 years, and we have hit that mark. We were screwed the moment they took us off the gold standard allowing the currency to devalue so they could redistribute the wealth more easily.
or you can mow lawns 25 years and retire at 40 like me
child. go play your games and leave the adults alone please. Master chief.....toddler.
@@tom-iv6lc says the 12 year old
Delayed gratification is the key to financial success,
Government spending has been out of control, inflation has been killing us, and large corporations continue to make the problems worse by buying up houses and making them more expensive.
Kids today have it better than anyone. They're being told at such a young age to start investing, where my parents didn't start or even know about investing until their late 30s.
How can you value home ownership if you can't even afford it?
Retirement pft how about just coming up with a down payment on a house. I can't even afford car insurance. I can barely keep my family above water. It's heartbreaking not being able to get things or do things for/with your kids. I really hope there is a miracle on the horizon.
Lmfao we don't value home ownership as if that's even possible right now.
What’s needed is a financial advisor. Somebody to start working the numbers so you have a better understanding about retirement. Even if you part of the 37% with more credit card debt, you need to speak with a financial advisor.
I see a lot of folks in their 50’s/60’s doing multiple uprgrades to their homes, getting bigger trucks every 4 years and going out for dinner every weekend. It’s not only about making more $$$$, its also about not spending your money on BS and SAVING/ INVESTING for the future.
I blame the media!
I was born in 1958 and became part of the FIRST generation in America to be handed economic conditions worse than their parents generation. Mine was caught between the dying of the industrial revolution and the rising of tech (along the west coast that is). This will be an ongoing trend until there is a change of government that goes back to worrying about its own people first and foremost.
Yes, me too 58. My friends lost jobs in the car industry.
Why do people not prepare / save money/ invest?
People buying new cars, expensive restaurants and takeaway, vacations and iphones and clothes shopping on credit cards. How can people complain about missing savings and investments.
George Kamel is truly a financial expert.
Most people are now breathing one second to the next.
It's sad how difficult things have become in the present generation. I was wondering how to utilize some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
It's a good idea to seek advice at the moment, unless you're an expert yourself. As someone who runs a service business and sells products on eBay, I can tell you that the economy is struggling and many people are struggling financially.
People often overlook the value of financial advisors until they experience the downside of emotional decision-making. I recall a few summers ago, after a difficult divorce, when I needed help reviving my struggling business. I did some research and found a licensed advisor who worked diligently to grow my reserves, even amid inflation. As a result, my reserves grew from $275k to around $750k.
How can I reach this advisers of yours? because I'm seeking for a more effective investment approach on my savings?
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Sophia Maurine Lanting turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
I will be working lunch at my own funeral, there is no hope of ever retiring. there will be no SSI for me when I get to that age after a lifetime of paying in
Yeah. Government agencies will be getting sued.
Of the 48%(“not going to make it”). How many of them are putting $ in a retirement savings??? Probably less than 25%. Most people who have money in their savings or retirement are PUTTING money on the retirement. It’s the first act to getting yourself to wealth status.
I don’t care about having 1 million in the bank at age $65 , I’ve wasted my youth which is more important that $$$.
Dave isn't paying George nearly enough. As a multiple millionaire I will tell you George has this down. Get it boy!
Making your first million by 30 is the epic struggle that will determine how well you live or not
People make life choices all the time. If you choose a large house expensive cars and vacations you chose to enjoy your money early in life. If you saved over 40 years you chose a more enjoyable retirement.
Don’t value home ownership? We would if it wasn’t 90% of after tax income.
I am 25, i contribute 6% to my 401k with a 7% company match. I contribute 6% to my Roth IRA, which is about $3,000/yr. I also contribute leftover savings and money to a taxable brokerage. I also contribute to an HSA. My balance in all of those accounts is around $27,000. Not much, but as someone who works at a bank, i see people all the time who have a spending problem. There are a lot of people out there who will withdraw from their retirement the moment financial struggles come up, and that is a penalty plus tax. It is not sustainable, and people do it multiple times and have no money left over for retirement. Building an emergency fund is super important in life, cause you never know when you will lose your job or an emergency will come up, and you dont have savings, then the next thing that ends up happening is you borrowing from your home (HELOC), using credit cards, loans, etc...and then using retirement to pay off that debt. I see this too many times in the banking industry.
Trust me you are already on your path to doing well. At your age I'm not sure I would contribute as much to a Roth and instead to an IRA . It is better to reduce your taxable income now and bankroll the tax savings later. The market is over-valued. When it takes a dive you could do then do Roth conversions and even use the paper losses to minimize tax buden and when market recovers it is all tax free in the future.
As you have already learned most don't plan for future and live in the here and now in an unsustainable lifestyle. These are the same people who complain about the wealthy and want to steal their wealth via taxation.
😒then stop voting for people who don't want to pay you at all, let alone a minimum wage. Vote for the people who stop price gouging corporations.
Those people you're referring too (democrats) turn around and spend our taxes on migrants, welfare slugs, heroin addicts, and Ukraine.
It doesn't matter who they vote for. I will still be working my current job, and making the same amount of pay. The elections have no affect on me.
You mean the ones allowing illegal aliens in the country to lower wages and take jobs?
1.6 million? Most don’t even make above 70k a year let alone being able to put money aside for regular savings
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How disconnected are these folks.
People WANT houses, they can afford them!
The stock market is higher because of inflation That's why it's growing like crazy
The YOLO generation....waiting for the government to pay for their retirement next?
Thank a democrat for this. That's what people voted for same things they believed in every failing democrat state & city.
Texas is getting bad because Democrats flooding the country not fixing the border.
Florida is bad because all the rich wanted beach front property & insurers charge outrageous prices, the combination has made the area unaffordable.
California has a lot of land & prosperity, all the democrats who are rich thereconvinced the poor to vote them in & keep taking away more.
No, blame self! Stop blaming the government and we can’t look for them to save us neither!!!
Florida is a stupid place to live. It is a target for hurricanes and always has been. Insurers don't like to lose money. The probability of major loss from a hurricane has to be 1 in 20 years. If you are insured you should be paying equivalent of that amount of home value every year. $500K home x 50% loss / 20 years = $12.5K.
On that same note why are we giving FEMA relief to areas where people deliberately live with such knowledge? Ever wonder why there are no ancient civilizations in such areas? Maybe because the were wiped off of face of earth and those that survived were smart enough to leave. Now they are too dumb because they get handouts to reward their ignorance.
Because of Biden and the PACT ACT, I'm now receiving 100 VA disability compensation and do not have to pay property taxes anymore. The extra money is helping me max out my TSP, Roth IRA and HSA contributions.
@@TexasMade903 same here! I was denied allergic rhinitis in 2010 when I first got out although I know it was directly correlated to my time in Iraq. Bc of the PACT Act, I get disability for rhinitis and sinitus. I wish they went back to 2010 for my rhinitis but they did got back 1 year.
@@TexasMade903 Interesting. You are getting disability benefit from taxpayer while we are operating at record debt and deficits, yet fit enough to earn sufficient money to max out all of those account contributions. Gotcha
🏠The goal of home ownership has not died for the young generation!! They feel hopeless with the way the economy is!! It's so sad! Things are absolutely NOT at all the same as they were for the last generation! The pandemic caused some major issues as well!! These are unprecedented times and that's just fact. Wow! Feel so bad for the hardworking younger generation!! 😞 My son worked hard to get his degree with a brain tumor even and it's unreal how things are. Praying for him and many others!! 🙏
I went from -160,000 net worth to 4 mil combined with wife by my 60s if I stopped investing. Used Ramsey and the money guy show principles. They’ll change your family tree financially
This is a prime example of why more people need to get more prepared and think about "Emergency Preparedness Management" for both your home and vehicles. I am a UA-camr under my Full-Name with the same profile picture as this post with 47 videos covering 27 different category topic subjects sharing my personal knowledge and experiences with others to help others improve their overall adult lives. I've got videos on building yourself a high quality 24-72 Hour Survival Bug Out Bags, Home and Vehicle Preparedness and Readiness advice videos, several Financial Literacy advice videos, a dozen Cooking Creation Recipes videos, and more!
I watch a lot of the home buying shows and one thing I've seen is that many young people don't know the meaning of a starter home. You can't step up to your "forever" home the first time out without jeopardizing your future. Life will go on with popcorn ceilings, a white kitchen with stainless appliances and a floor plan that isn't open. One of the first things that I learned was not to be house poor and my first home wasn't much larger than an apartment, but the equity was mine. Lower your sights, because when you rent, you're flushing money down the toilet.
Supply will always meet demand. It is the story of out running the tiger vs just out running the slowest person in the group. If everyone has $1.5M you will need $3M
So we witnessed everyone get laid off in a snap, and you want us to jump to get a thirty year mortgage
It doesn't take a miracle. The hard fact is you have to start planning for retirement the very moment you start working full-time as a young adult. Most people don't. They'd rather finance cars and take expensive vacations.
Exactly. My teen daughter has a roth ira and high yield savings account. I make her contribute the max to her Roth.
Does that mean the other 52 percent think they're going to make it?
Most available jobs don’t pay a living wage !? A lot of us can’t even afford health care and food !?
Banks 0.01% savings accounts, 80s and 90s savings accounts paid 5 to 10%. Pushing the stock market thats all you do. How's that not greed? The stock market is disconnected from the economy.
DEMOCRATS
Suck
funny when the business people tell you the only way to get money, is by gambling... that's all investing is
but for some reason, if it's not on a horse or a machine, it's not an addiction
It's not gambling, just invest in an index fund that mimicks the S&P 500 and you'll be good. The S&P 500 average return is over 10%.
Vote for Trump for economic growth. He did it 4 years ago.
The way they spend it will take a miracle to retire.
Truth. Instant gratification and consumerism is the real issue. You don’t need that LV bag, five nights a week eating out, or that $10 coffee when work has plain coffee for free. You ask most Millennials or Z’s what their retirement plans are? Mom and dad’s savings and house!
Shocker...
People are horrible with money management. They spend before they get it all while having smoking habits, drinking habits, gambling habits and other impulsive money mistakes like buying brand new vehicles they can’t afford or maybe more house than they can afford to keep them home-poor. Throw in a divorce or two and kids with multiple partners…good luck.
People act like retirement age is never going to creep up on them so spend like it’s never going to end. Then 60 is knocking on the door and they didn’t save a dime.
People are not disciplined with their money then blame those who are. Always the fault of the ‘rich’. Those bastards who had a plan and stuck to it. 🙄
Only reason my parents want me to save is so i can take care of them when they’re older. Theyre gonna be dusappointed wheb i tell them i only got enough money for me
They should have been saving for themselves all these years.
I value homeownership, but juggling annual retirement savings and the escalating home prices as well as paying for the escalating costs of college for our kids means that choices have to be made often. I won't have the economic winds at my back like my parents did.
Boomers had the opportunity to work for a company 20+ years. No one else has the stability to save bc we have to adapt to a workforce that changes more rapidly
Make your own company.
Join the military. When I was on active duty, I had a part time job on base. I would invest my military pay and live off the money from my part time job. All my day to day expenses where paid for, so that made it easier.
Even if you inherit money, like your parents ira, you get taxed on it as income added to your own income and bumped up into a high tax bracket and the government takes a huge chunk of it, just happened to me after taking care of my dad after my mom died and him leaving me his ira, I reinvest every dime but the government took a huge chunk. Not to mention inheritance tax on anything in his bank account. If your parents plan on leaving you things and money, go to an estate planner and set up a plan so that the government gets as little as possible.
!!I recently sold some of my long-term position and currently sitting on about 250k, do you think Nvidia is a good buy right now or I have I missed out on a crucial buy period, any good stock recommendation on great performing stocks or Crypto will be appreciated
As a beginner investor, it’s essential for you to have a mentor to keep you accountable.
Ruth Ann Tsakonas 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 Ruth Ann Tsakonas, 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 $100k 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! Ruth Ann Tsakonas 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 based on thorough research and years of practical experience.
nice!! once you hit a big milestone, the next comes easier.. How can i reach her, if you don't mind me asking?
Why is the former ICE director giving us financial advice? He clearly was incompetent at his job at ICE why should be listen to him for financial advice?
sell everything when you retire, buy dirt cheap land in say Arkansas and put a tiny home on it and live on literally nothing...you have to live on what you have and draw on social security...
People may hate ramsey but you can’t lie that what he does with money works.
Baby boomers shouldn't have to sale, an article came out yesterday that there is over 546 thousand homes for sale
Everyone living to die, but no one
Is dying to live.
Yawn i am at the end of gen x. I can retire on 250k. Built a beachfront house, paid in Vietnam, paid car, no property tax, no tipping, live likeba king with 2k. And i hot a wife and kid
As football stadiums fill up, baseball, hockey and restaurants. Yeah... Pretty bleak!
This is why you need solid pension. You don't have to save, just keep doing to work.