I recently lost my job at the age of 45. In addition to having access to Tricare and VA healthcare, I also receive a 9K military pension. I'm thinking of selling or renting my house and moving overseas with my cash, assets, and 401(k). What are some good passive income opportunities?
I'm wondering if I should merge all of my investing accounts into one. How should I proceed and are there any repercussions I should be aware of if I decide to do this? In addition, I plan to sell my property, which could result in an additional 200K over time. Is it better to diversify over a few different industries or combine everything into one investing account?
These are crucial questions for a financial planner. I met mine at a NYSE summit, and with her help, my wife and I reallocated our $1.7M portfolio between a traditional IRA and a brokerage account. She’s been making investments with our approval and has helped us recover twice our losses. We’re holding steady and carefully navigating more markets
The worst advice I got when I retired was to instantly take Social Security at 62...because "we are all going to die soon." I pushed back on that advice...and was bombarded by those that took it early and with that 30% reduction. I'm glad I waited until full retirement age (66/10 mo) for 100% social security payments. The best advice was..."retire with no debt." Period.
I am mortgage and debt free and have no regrets retiring at 66 back in March. For me it was an opportunity to put my make-up, nice clothing, socializing and having a salary at the end of the month that half of it was going into my saving account. Now being retired I am embracing my new chapter money worry Free. I disagree with all these statement about needing $ 500.00 or more to retire. All is needed is being mortgage and debt free with savings for emergencies. Discipline, budgeting, menu planning and tracking my spending I manage to live on my pension and still saving a few pennies. I don’t have a car as I am weighting Pros & Cons if I really need a car. It keeps me fit as I am walking up to 10 km. Also I live within 15 walking distance from the Shopping area.
I have a fully paid for home and that is one main reason I feel ready to retire. It frees up so much money. However, I worked one g debt free for the last 20 years. It turns out it was so worth it.
you said you dont understand how anyone can retire without a house payment ... its simple , you just pay a bit extra on the principal each month and instead of 30 years the house is paid off in 20 , 15 , or even 10 years ... lots of people do it , especially if they avoid new car payments most of their working years ... if you dont have an average $700 per month car payment , thats $700 extra towards the house every month for years ... if your not saving towards retirement (cause you have a pension) and instead put 10-15% of your pay towards the house its knocked out quickly also ... or you dont buy the biggest house you can make the payment on , its easier to pay off also ... theres tons of ways to pay them off early if you decide its a priority over spending on unnecessary things ... as a single father (with no child support) , i paid my house off at age 43 with an average career income of 50K and retired early at 49 last year , with no pension ... i love new cars too , but i like watching other people drive them to work as i sit on the porch drinking coffee as a debt-free retiree even more 😂
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Everyone should have BTC in their portfolio.
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Brian! Imagine i invested $50,000 and received $190,500 after 14 days
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
Retirement isn't rocket science 1 10 years before start paying off house car and all debt and start saving 2 turn 63 tell boss to kick rocks, Start drawing social security retirement and get Obama care insurance I paid $25 a month 3 turn 65 and get medicare That's how I did it I'm living nicely Enjoy
I'm so glad I saw the part about travel. I retired earlier this year after my position at my former workplace was eliminated. While the transition was unexpected, I'm glad it happened - but I was starting to think I was the only retiree in the western world who doesn't have grand plans to travel to every exotic location. 😀
You can retire without debt. We paid our half prior to age 50. We just really prioritized paying off the mortgage and not have debt. We also prioritized saving and investing for our retirement and kids college. You can do it. You just have to delay gratification till later in life.
I retired about 2 years ago after 35 years in education. I spent about half my career in the classroom and the other half in various leadership roles. I am currently still working part time in leadership and also drawing my pension, which in Georgia can be pretty substantial. My only debt is my mortgage. If I didn’t have the mortgage, my pension would provide all I need.
to me the goal is to retire with at least enough to replace your current income as a minimum, one should be debt free with maybe only a low interest mortgage or affordable rental but of course paid off is better when it comes to home ownership. Retire as soon as possible for the main reason which is the minute that just passed is gone and life is finite…you cannot buy more time…and finally retire to something not from something (work/job). if you don't have a path to go to you will likely feel you have no purpose and having no purpose is depressing. Oh ya and more is better in income but too much is a waste. Read die with zero, it isn't about being broke it is about doing the things you want to do, give to charity, help kids, do the things that bring you joy.
With a few more years before hitting 60, I am now in a position to retire, but I am afraid to take the leap. I don't know how I would handle a schedule without my current routine. Melinda, may I ask "How did you get over this mindset?"
I've been retired for 11 yrs. I like having more time and the flexibility of retirement, but I wouldn't say I love it. It has its good and bad days. I'm unable to work due to health issues, or working part-time would have been an option for me. I still have debt and I'm working on getting rid of that. If I had to give retirement a grade I would give it a B-. Yes, the price of groceries isn't helping!
Don't call retirement money "money in the bank" or "saving" or "retirement savings" or even "nest egg" These are stupid terms and should not be use. You must have a retirement "PORTFOLIO" and should have investments in it. The portfolio should consist of Pensions, 401K's, IRAs Roth IRAs, Social Security and the like.
I’m ready. Every day working with people makes me more ready.
@@niki9638 People can be hard to work with that’s for sure 😁
I recently lost my job at the age of 45. In addition to having access to Tricare and VA healthcare, I also receive a 9K military pension. I'm thinking of selling or renting my house and moving overseas with my cash, assets, and 401(k). What are some good passive income opportunities?
it's reasonable to consider hiring a financial counselor at this stage, but delaying retiring for a while may be a more wiser choice
I'm wondering if I should merge all of my investing accounts into one. How should I proceed and are there any repercussions I should be aware of if I decide to do this? In addition, I plan to sell my property, which could result in an additional 200K over time. Is it better to diversify over a few different industries or combine everything into one investing account?
These are crucial questions for a financial planner. I met mine at a NYSE summit, and with her help, my wife and I reallocated our $1.7M portfolio between a traditional IRA and a brokerage account. She’s been making investments with our approval and has helped us recover twice our losses. We’re holding steady and carefully navigating more markets
great! My portfolio is not doing well. Who is your professional?
June Renae Matthysse. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
The worst advice I got when I retired was to instantly take Social Security at 62...because "we are all going to die soon." I pushed back on that advice...and was bombarded by those that took it early and with that 30% reduction. I'm glad I waited until full retirement age (66/10 mo) for 100% social security payments.
The best advice was..."retire with no debt." Period.
62 for me
I am mortgage and debt free and have no regrets retiring at 66 back in March. For me it was an opportunity to put my make-up, nice clothing, socializing and having a salary at the end of the month that half of it was going into my saving account.
Now being retired I am embracing my new chapter money worry Free. I disagree with all these statement about needing $ 500.00 or more to retire. All is needed is being mortgage and debt free with savings for emergencies.
Discipline, budgeting, menu planning and tracking my spending I manage to live on my pension and still saving a few pennies.
I don’t have a car as I am weighting Pros & Cons if I really need a car. It keeps me fit as I am walking up to 10 km. Also I live within 15 walking distance from the Shopping area.
Good Morning. I have a few years before I can retire. I appreciate the information you provide and viewpoints on retirement. Have a good day. 😊
I have a fully paid for home and that is one main reason I feel ready to retire. It frees up so much money. However, I worked one g debt free for the last 20 years. It turns out it was so worth it.
@@reneepagano2631 yes! That would free up a lot of money.
you said you dont understand how anyone can retire without a house payment ... its simple , you just pay a bit extra on the principal each month and instead of 30 years the house is paid off in 20 , 15 , or even 10 years ... lots of people do it , especially if they avoid new car payments most of their working years ... if you dont have an average $700 per month car payment , thats $700 extra towards the house every month for years ... if your not saving towards retirement (cause you have a pension) and instead put 10-15% of your pay towards the house its knocked out quickly also ... or you dont buy the biggest house you can make the payment on , its easier to pay off also ... theres tons of ways to pay them off early if you decide its a priority over spending on unnecessary things ... as a single father (with no child support) , i paid my house off at age 43 with an average career income of 50K and retired early at 49 last year , with no pension ... i love new cars too , but i like watching other people drive them to work as i sit on the porch drinking coffee as a debt-free retiree even more 😂
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Everyone should have BTC in their portfolio.
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Brian! Imagine i invested $50,000 and received $190,500 after 14 days
Absolutely! Profits are possible, especially now, but complex transactions should be handled by experienced market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr 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
Retirement isn't rocket science
1 10 years before start paying off house car and all debt and start saving
2 turn 63 tell boss to kick rocks, Start drawing social security retirement and get Obama care insurance I paid $25 a month
3 turn 65 and get medicare
That's how I did it I'm living nicely
Enjoy
i did the same thing,,, works well for me too
Scammers are in the comments pretending to recommend financial advisors
I'm calling them out as I see them
I'm so glad I saw the part about travel.
I retired earlier this year after my position at my former workplace was eliminated. While the transition was unexpected, I'm glad it happened - but I was starting to think I was the only retiree in the western world who doesn't have grand plans to travel to every exotic location. 😀
@@robsavage3217 Not at all! Once I quit worrying that I wasn’t traveling all the time it gives me freedom to just be at peace!
You can retire without debt. We paid our half prior to age 50. We just really prioritized paying off the mortgage and not have debt. We also prioritized saving and investing for our retirement and kids college. You can do it. You just have to delay gratification till later in life.
@@princesskaitlinhazelwood4703 I prioritized getting rid of credit card debt now prioritizing paying off my car😁
I retired about 2 years ago after 35 years in education. I spent about half my career in the classroom and the other half in various leadership roles. I am currently still working part time in leadership and also drawing my pension, which in Georgia can be pretty substantial. My only debt is my mortgage. If I didn’t have the mortgage, my pension would provide all I need.
@@Beautybytracilei That’s amazing! My pension is pretty good and use supplemental income for fun stuff🤷🏼♀️
to me the goal is to retire with at least enough to replace your current income as a minimum, one should be debt free with maybe only a low interest mortgage or affordable rental but of course paid off is better when it comes to home ownership. Retire as soon as possible for the main reason which is the minute that just passed is gone and life is finite…you cannot buy more time…and finally retire to something not from something (work/job). if you don't have a path to go to you will likely feel you have no purpose and having no purpose is depressing. Oh ya and more is better in income but too much is a waste. Read die with zero, it isn't about being broke it is about doing the things you want to do, give to charity, help kids, do the things that bring you joy.
With a few more years before hitting 60, I am now in a position to retire, but I am afraid to take the leap. I don't know how I would handle a schedule without my current routine. Melinda, may I ask "How did you get over this mindset?"
Do it, trust me you will be forever grateful for doing so.
@@woodsparker7902 I’ve just tried to make new routines and it works.
Thank you :)
I've been retired for 11 yrs. I like having more time and the flexibility of retirement, but I wouldn't say I love it. It has its good and bad days. I'm unable to work due to health issues, or working part-time would have been an option for me. I still have debt and I'm working on getting rid of that. If I had to give retirement a grade I would give it a B-. Yes, the price of groceries isn't helping!
@@stephanieporter6836 I might give it a B+ soon as I like settling into working a few days a week.
I have debt ... mortgage.
Don't call retirement money "money in the bank" or "saving" or "retirement savings" or even "nest egg" These are stupid terms and should not be use. You must have a retirement "PORTFOLIO" and should have investments in it. The portfolio should consist of Pensions, 401K's, IRAs Roth IRAs, Social Security and the like.