Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.
This is true. I'm in my mid 60's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $21k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
@@andrew.alonzo I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.
@@rebecca_burns14 Big Credits to “Julia Ann Finnicum” she has a web presence, so you can simply search for, there are some others but it might be difficult to get them, but Julia has been a good guide through the year.
I'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.
I can’t focus on the long run when I should be retiring in 3years, you see I’ve got good companies in my portfolio and a good amount invested, but my profit has been stalling, does it mean this recession/unstable market doesn’t provide any calculated risk opportunities to make profit?
There are a lot of strategies to make tongue wetting profit especially in a down market, but such sophisticated trades can only be carried out by proper market experts
I agree, my profit has been consistent no matter the market situation, I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2020 this time with guidance from an investment adviser that was recommended by a popular economist on a subreddit, long story short, its been 2years now and I’ve gained over $850k following guidance from my investment adviser.
@@berkrix4312 It would be very innovative suggestion to look out for Financial Advisors like Julie Anne Hoover ’ who can help shape up your portfolio. Trying times are ahead, and good personal financial management will be very important to weather the storm.
I've just retired recently and I must say I found this video informative and great to review. These psychological concepts are much more useful for individuals attempting to avoid mistakes than I realized when I was first introduced to them. This is probably why Warren Buffett talks so much about temperament being crucial to his investing success.
Developing a solid financial portfolio is more difficult, therefore I suggest you seek expert assistance. The ideas you receive after that can be tailored to your long-term goals and financial desires.
Personally, I would say have a mentor. Not sure where you will get an experience one, but if your knowledge of the market is limited, it seems like a good bet.
The issue is this! Most often, those with little to no experience in the stock market attempt to buy on their own. It previously occurred to me, but I learned from it and contacted "Catherine Morrison Evans" a finance expert with offices in the US, and everything changed. I earned $370k so far in the first quarter of this year.
@@hermanramos7092 Same thought when I read the comments from people. as if it's that easy! You can't give what you don't have. That's why as many as who go into the market with little to no knowledge will continue to feel the full downsides of stocks when it happens. I personally need some guide with regards to my 401k. How can I reach Catherine Morrison Evans?
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've been stuck with Carol Vivian Constable for about five years now, and her performance has been consistently impressive.
Thanks for this. I just googled her name and found her webpage. I'm really impressed with her credentials and I reached out to her since I need all the assistance I can get.
The failure of SVB and everything happening has left the markets in shreds. I'm at a crossroads right now, deciding if to liquidate 200k portfolio down by 10%, and it's uneasy for me to not panic after my recent awful divorce. I just need investing ideas to afford my retiremen..
sometimes we fail to realize how resourceful an extra income can be until crisis.. at this point i'm looking for assistance with where to put my money during this financial recession, mind if i look up your advisor please..
The stock market has been a really tough one this past year, but I watched an interview on CNBC where the anchor kept mentioning "KATRINA VANRENSUM ". This prompted me to get in touch with her, and from August 2022 till now we have been working together, and I can now boast of $540,000 in my trading portfolio.
The thought of retirement makes me a little worried. My apologies to everyone who have retired during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for. it's kinda difficult for people who are retired.
I was a project manager and my personal portfolio of approximately $1.5m of my retirement pension took a big hit in January due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my portfolio this red season. I’ve made over $450k since then.
@@laszlolee please tell me how to use this recession to make gains! Grew my reserve of $121k to over $513k btw DEC. 2011 and AUG 2012 but the market is diff now..
@@laszlolee I just started few months back, my grandson helps me but I'm going for long term, I'm still trying to figure it out honestly.. Which advisor do you work with?
I've shuffled through a few advisors but “Susan Bauer Normansell” remains the most resourceful thus far. Her strategy proves profitable, and sustainable both in a bull & bear market. Most likely, her deets can be found on the net, so you can confirm yourself..
@@laszlolee 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.
Running out of retirement savings is a NON-SENSE only seen in USA. In other countries, health care is universally covered and governments pay a decent amount of money in retirement, never heard of such non-sense until I came to US.
Read about "law of large numbers". When you have a large sample size you can approximate the mean with high confidence. When you pay into government's national system the sample size is so large that it evens out among people who live very long vs very short, people who incur very high health related costs vs very small. As an individual person, if you do that saving yourself your risk is infinitely high that your savings may not be enough because you have no idea how long you (as an individual) will live, how much health care costs you will incur etc. Look at Europe, Canada, UK, Australia and rest of the world, they all use Jesse's system. Those are examples that retirement should be through government instead of individual people save. I would prefer that SS tax is 20% yet government guarantees free healthcare plus decent pension until I die, that's true piece of mind. Your idea on the other hand is sugarcoated by capitalists and flawed from many angles including statistics and common sense, yet you will not understand because capitalists fed you their story
My folks retired 5 years ago with about $500K in savings. Their monthly income is about $5K (SS and a small pension). They take 2-3 nice vacations every year, drive a nice car, etc. They have never taken a penny from their savings! So essentially their savings is a BIG emergency fund that will keep growing every year. How do they do it! Simple, they have ZERO DEBT! With no mortgage, no car payment, no credit cards, etc. so they have an amazing retirement! BTW, their investments generate about $30k/yr. in dividends which they reinvest! They could start taking their dividends in cash any time they like to increase their monthly income even more!!!
I think there are so many varied situations out there. 1) are you dual income. Do you each have $400k or is that total household wealth 2) do you have debt 2) have you paid off your home 4) do you have a part time job 5) are you supporting other family members. I think people tend to do better than these experts think and we do have programs for the very bottom of the income distribution. I a,so think more people adjust their situations. Take in roommates, live with adult children, down size a home.
$400k is nothing for retirement even with social security. $1 million might not be enough for those still renting or paying off their mortgage into retirement years. I'd say for those of us with 20+ years before retirement we will easily need $1.5-$2 million to live comfortably but not an extravagant lifestyle.
Years ago I budgeted a little over $3M for my wife and I but didn't take into account no mortgage and the addition of SS. I do agree that $1M seems low if you're just supposed to live on the interest.
The smartest thing that should be on everyone's mind right now should be to invest in different streams of income that are not dependent on the government. Especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC ETH...).
Mr Nathan made profiting my culture, i regretted not knowing this way of trade few months ago before i lost, it's all good, am recovering. and i will never forget this good deed..
Building a good investment portfolio is more complex so I would recommend you seek Nathan Chui support. This way you can get strategies designed to address your unique long/short-term goals and financial dreams.
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $260K for sometime now, my major challenge is not knowing the best entry and exit strategies... I would greatly appreciate any suggestions
@@ballooneyjr4294 An HSA is a health spending account that is tax free. You can fund a certain amount each year. The money is to only be used for medical stuff like prescriptions, co-pays, dental. Pretty much anything medical. I got mine through the company I worked for, but I think you can go to most banks and set one up. Mine is through Fidelity. I didn't use my HSA money until I retired, but you don't have to wait. My Fidelity HSA is also a brokerage account so after I had a good amount of money in it, I took 2/3's of it and started investing with it so it would have some growth. Google it, or talk to a financial planner about it. It's really nice to have a medical bucket of money that is there when you need it.
I moved to Ecuador last year. Inflation has not exceeded 4.1% here. Super low COL, great weather imo here in the Sierra. You can live veryyy comfortably on $2k a month.
And tell me, where the Ecuadorian retiree needs to go when he retires? Because you with your dollars hiked the prices of real estate and everything else. You should be ashamed with expatfire, gringos are not welcome
The median retirement savings is around $250,000. She states the average is around $420,000, but the average is skewed upward by a small % of folks with larger balances. Median at $250,000, which means that half of Americans are below that. If you think you'll live a long time, move to another country where you can hire a low cost live-in helper. America is not a great place to be old and not rich.
I am 31 living in Hawaii and I see the struggle of people making it so they have to work post retirement. In that case I would just try to max out and claim at the oldest age to get a higher social security payment and just work until that age.
@@FulgenzioPisani obviously keep applying to get a job. Being laid off is not the end of the world. I know many older people who got laid off and finally got jobs after persistently looking! This is called “common sense!” But I guess common sense is not so common after all 😬
Consider what your own risk tolerance is. If you might take your money out of stocks if the market drops, then you may have too much in the stock market and should have more in bonds.
I'm 28, earn $112k+, no debt, and net worth of 100k so far. Have a 6% match. Have a financial advisor who said if i didn't make more and plateaued for the rest of my life, I'd retire with a couple million. I grew up in poverty, all i want is a small house near a beach or lake. One small in the US and one small in Mexico. Done. Never wanted crazy luxuries, just want financial freedom, and my doggo.
@@dickriggles942 it's all true. I dont lie. My drive was being first gen American and growing up on poverty. As such i don't care for luxuries. Never even owned a new car. Bought mine used for cash. My family and my dog are my priorities. Mexican culture.
@@MrBemnet1 very true. I'm gay, and make my plans clear. My partner will also have a career. I'm sure we will align mostly because my driving force is to never be financially unstable. I could quickly pick up how they are with their finances.
Who are you making this content for lol? The average is 250 000$ ''The Federal Reserve's most recent data reveals that the average American has $65,000 in retirement savings. By their retirement age, the average is estimated to be $255,200.'' And yes, ridicualously risky nowadays to keep 1 million in retirment savings anyways
I don't trade, I invest with a professional assigned by a crypto company that trades for us and returns profits on weekly basis for me and you can invest your capital and get weekly Returns of investment (ROI) without any extra fees attached.
I don't mind paying taxes now for other people's medical care in the future since I know someone else is doing the same for me. Also, me paying into Social Security today is going to people like my grandparents who need that money they earned after decades of hard work, & I hope decades down the road the system will still be there for me if I need that financial aid.
Wouldn't it be nice if you could just keep your money from decades of work instead of getting it stolen from you and you just have to hope there's a base in the future to keep the pyramid up?
Ideally, current taxes into SS should fund future withdrawals. It’s not supposed to fund accrued benefits. Your perspective of SS is altruistic but unfortunately flawed.
@@bobthemagicmoose No, it wouldn't. Read about "law of large numbers". When you have a large sample size you can approximate the mean with high confidence. When you pay into government's national system the sample size is so large that it evens out among people who live very long vs very short, people who incur very high health related costs vs very small. As an individual person, if you do that saving yourself your risk is infinitely high that your savings may not be enough because you have no idea how long you (as an individual) will live, how much health care costs you will incur etc. Look at Europe, Canada, UK, Australia and rest of the world, they all use Jesse's system. Those are examples that retirement should be through government instead of individual people save. I would prefer that SS tax is 20% yet government guarantees free healthcare plus decent pension until I die, that's true piece of mind. Your idea on the other hand is sugarcoated by capitalists and flawed from many angles including statistics and common sense, yet you will not understand because capitalists fed you their story
I’m a female and I can definitely say male / female doesn’t matter in a community property state. It’s who earned more. In my case, I earned more than my x. My advice is don’t get married. Prenups provide limited protection if married over 10 years.
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.
This is true. I'm in my mid 60's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $21k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
@@andrew.alonzo I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.
@@rebecca_burns14 Big Credits to “Julia Ann Finnicum” she has a web presence, so you can simply search for, there are some others but it might be difficult to get them, but Julia has been a good guide through the year.
@@andrew.alonzo 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.
I'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.
I can’t focus on the long run when I should be retiring in 3years, you see I’ve got good companies in my portfolio and a good amount invested, but my profit has been stalling, does it mean this recession/unstable market doesn’t provide any calculated risk opportunities to make profit?
There are a lot of strategies to make tongue wetting profit especially in a down market, but such sophisticated trades can only be carried out by proper market experts
I agree, my profit has been consistent no matter the market situation, I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2020 this time with guidance from an investment adviser that was recommended by a popular economist on a subreddit, long story short, its been 2years now and I’ve gained over $850k following guidance from my investment adviser.
@@berkrix4312 It would be very innovative suggestion to look out for Financial Advisors like Julie Anne Hoover ’ who can help shape up your portfolio. Trying times are ahead, and good personal financial management will be very important to weather the storm.
@@theresahv I’m delighted to engage in this opportunity, I just found the professional’s web page and have already written her.
I've just retired recently and I must say I found this video informative and great to review. These psychological concepts are much more useful for individuals attempting to avoid mistakes than I realized when I was first introduced to them. This is probably why Warren Buffett talks so much about temperament being crucial to his investing success.
Developing a solid financial portfolio is more difficult, therefore I suggest you seek expert assistance. The ideas you receive after that can be tailored to your long-term goals and financial desires.
Personally, I would say have a mentor. Not sure where you will get an experience one, but if your knowledge of the market is limited, it seems like a good bet.
The issue is this! Most often, those with little to no experience in the stock market attempt to buy on their own. It previously occurred to me, but I learned from it and contacted "Catherine Morrison Evans" a finance expert with offices in the US, and everything changed. I earned $370k so far in the first quarter of this year.
@@hermanramos7092 Same thought when I read the comments from people. as if it's that easy! You can't give what you don't have. That's why as many as who go into the market with little to no knowledge will continue to feel the full downsides of stocks when it happens. I personally need some guide with regards to my 401k. How can I reach Catherine Morrison Evans?
@@hermanramos7092 How can I reach Catherine Morrison Evans?
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management
Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've been stuck with Carol Vivian Constable for about five years now, and her performance has been consistently impressive.
Thanks for this. I just googled her name and found her webpage. I'm really impressed with her credentials and I reached out to her since I need all the assistance I can get.
The failure of SVB and everything happening has left the markets in shreds. I'm at a crossroads right now, deciding if to liquidate 200k portfolio down by 10%, and it's uneasy for me to not panic after my recent awful divorce. I just need investing ideas to afford my retiremen..
sometimes we fail to realize how resourceful an extra income can be until crisis.. at this point i'm looking for assistance with where to put my money during this financial recession, mind if i look up your advisor please..
Thanks for sharing, I just looked her up online and I would say she really does have an impressive background on investing.
The stock market has been a really tough one this past year, but I watched an interview on CNBC where the anchor kept mentioning "KATRINA VANRENSUM ". This prompted me to get in touch with her, and from August 2022 till now we have been working together, and I can now boast of $540,000 in my trading portfolio.
That's right, getting in touch with a consultant during the pandemic was how I was able to scale through the crazy stock downtrend.
Like I said earlier , her name is KATRINA VANRENSUM
Just run a search on her name, and you would see all you need.
The thought of retirement makes me a little worried. My apologies to everyone who have retired during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for. it's kinda difficult for people who are retired.
I was a project manager and my personal portfolio of approximately $1.5m of my retirement pension took a big hit in January due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my portfolio this red season. I’ve made over $450k since then.
@@laszlolee please tell me how to use this recession to make gains! Grew my reserve of $121k to over $513k btw DEC. 2011 and AUG 2012 but the market is diff now..
@@laszlolee I just started few months back, my grandson helps me but I'm going for long term, I'm still trying to figure it out honestly.. Which advisor do you work with?
I've shuffled through a few advisors but “Susan Bauer Normansell” remains the most resourceful thus far. Her strategy proves profitable, and sustainable both in a bull & bear market. Most likely, her deets can be found on the net, so you can confirm yourself..
@@laszlolee 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.
This video completely fails to answer the very question it posed in its title.
Correct. Just another BS conversation of people babbling nothingness out of touch with 85% of Americans.
How do I get by on 5 thousand dollars in retirement savings?
Very carefully
Buy a $5k noose
Plan on working for the rest of your life.
Stay out of debt, create and live on a budget, and work P/T.
Running out of retirement savings is a NON-SENSE only seen in USA. In other countries, health care is universally covered and governments pay a decent amount of money in retirement, never heard of such non-sense until I came to US.
Read about "law of large numbers". When you have a large sample size you can approximate the mean with high confidence. When you pay into government's national system the sample size is so large that it evens out among people who live very long vs very short, people who incur very high health related costs vs very small. As an individual person, if you do that saving yourself your risk is infinitely high that your savings may not be enough because you have no idea how long you (as an individual) will live, how much health care costs you will incur etc. Look at Europe, Canada, UK, Australia and rest of the world, they all use Jesse's system. Those are examples that retirement should be through government instead of individual people save. I would prefer that SS tax is 20% yet government guarantees free healthcare plus decent pension until I die, that's true piece of mind. Your idea on the other hand is sugarcoated by capitalists and flawed from many angles including statistics and common sense, yet you will not understand because capitalists fed you their story
Check out folks in Great Britain just now…things are bad for many retirees!
My folks retired 5 years ago with about $500K in savings. Their monthly income is about $5K (SS and a small pension). They take 2-3 nice vacations every year, drive a nice car, etc. They have never taken a penny from their savings! So essentially their savings is a BIG emergency fund that will keep growing every year. How do they do it! Simple, they have ZERO DEBT! With no mortgage, no car payment, no credit cards, etc. so they have an amazing retirement! BTW, their investments generate about $30k/yr. in dividends which they reinvest! They could start taking their dividends in cash any time they like to increase their monthly income even more!!!
Shout out to WSJ for helping us to accept being poor and the downward pressure from corporate profit margins
Yup. More and more of their content seems to be indirectly defending the sorry state of wages, taxation and social welfare in the US.
@Nelson Swanberg Quoting the French Revolution, or the Founding Fathers this time
Anyone feel like this was made by an AI?
The fact it isn’t impossible 😭 but no.. they have faces and names you can verify
I think there are so many varied situations out there. 1) are you dual income. Do you each have $400k or is that total household wealth 2) do you have debt 2) have you paid off your home 4) do you have a part time job 5) are you supporting other family members. I think people tend to do better than these experts think and we do have programs for the very bottom of the income distribution. I a,so think more people adjust their situations. Take in roommates, live with adult children, down size a home.
Social Security is "worth' x25 the annual amount you withdraw from it, if you follow the 4% rule.
$400k is nothing for retirement even with social security. $1 million might not be enough for those still renting or paying off their mortgage into retirement years. I'd say for those of us with 20+ years before retirement we will easily need $1.5-$2 million to live comfortably but not an extravagant lifestyle.
Years ago I budgeted a little over $3M for my wife and I but didn't take into account no mortgage and the addition of SS.
I do agree that $1M seems low if you're just supposed to live on the interest.
No way is $1M enough. Inflation will be rampant for at least the next 10 years. Just keep working and avoid debt.
Let's use common sense here...$1 million equivalent by the time you are ready to retire, DUH.
My plan is to live off-grid in an RV.
The smartest thing that should be on everyone's mind right now should be to invest in different streams of income that are not dependent on the government. Especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC ETH...).
Mr Nathan made profiting my culture, i regretted not knowing this way of trade few months ago before i lost, it's all good, am recovering. and i will never forget this good deed..
Courageous, this is the kind of information that we don't get from most UA-camrs I will get in touch with him right away, thanks!
Building a good investment portfolio is more complex so I would recommend you seek Nathan Chui support. This way you can get strategies designed to address your unique long/short-term goals and financial dreams.
He's available on
TELE
GRAM☑
I feel she is not really answering the question. She kept describing what to do before retirement, not while in retirement
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $260K for sometime now, my major challenge is not knowing the best entry and exit strategies... I would greatly appreciate any suggestions
Stay out of debt. Save money. Put money in retirement accounts. Fund an HSA (Very helpful).
@@ballooneyjr4294 An HSA is a health spending account that is tax free. You can fund a certain amount each year. The money is to only be used for medical stuff like prescriptions, co-pays, dental. Pretty much anything medical. I got mine through the company I worked for, but I think you can go to most banks and set one up. Mine is through Fidelity. I didn't use my HSA money until I retired, but you don't have to wait. My Fidelity HSA is also a brokerage account so after I had a good amount of money in it, I took 2/3's of it and started investing with it so it would have some growth. Google it, or talk to a financial planner about it. It's really nice to have a medical bucket of money that is there when you need it.
I moved to Ecuador last year. Inflation has not exceeded 4.1% here. Super low COL, great weather imo here in the Sierra. You can live veryyy comfortably on $2k a month.
And tell me, where the Ecuadorian retiree needs to go when he retires? Because you with your dollars hiked the prices of real estate and everything else. You should be ashamed with expatfire, gringos are not welcome
The median retirement savings is around $250,000. She states the average is around $420,000, but the average is skewed upward by a small % of folks with larger balances. Median at $250,000, which means that half of Americans are below that. If you think you'll live a long time, move to another country where you can hire a low cost live-in helper. America is not a great place to be old and not rich.
I’d say to be comfortable you really need 2-3 mil
Beans and rice, rice and beans.
Staple foods
Live in a commune, tiny house community, or multi-generational household like many other people around the world.
I am 31 living in Hawaii and I see the struggle of people making it so they have to work post retirement. In that case I would just try to max out and claim at the oldest age to get a higher social security payment and just work until that age.
Work until that age? What if you wake up one morning and there’s no job, what will you do?
@@FulgenzioPisani obviously keep applying to get a job. Being laid off is not the end of the world. I know many older people who got laid off and finally got jobs after persistently looking! This is called “common sense!” But I guess common sense is not so common after all 😬
Good one
Move to Mexico
Fu-- off. No. And the Mexican retiree has to go where? Bangladesh?
or don’t gentrify
We are told that it is so dangerous in mexico that all of the migrants (economic migrant illegals) "must" be given "asylum" in the US.
Make more money. The 401K scam has been a disaster.
Thanks for the tips Ann
robot speaking
Move overseas
Some say Social Security will be depleted by 2033, what happens then????
Consider what your own risk tolerance is. If you might take your money out of stocks if the market drops, then you may have too much in the stock market and should have more in bonds.
If my country had donuts, it would be really good
I'm 28, earn $112k+, no debt, and net worth of 100k so far. Have a 6% match. Have a financial advisor who said if i didn't make more and plateaued for the rest of my life, I'd retire with a couple million. I grew up in poverty, all i want is a small house near a beach or lake. One small in the US and one small in Mexico. Done. Never wanted crazy luxuries, just want financial freedom, and my doggo.
Nice of you to brag. If any of this is even true.
What you want may not matter once you get married
@@dickriggles942 it's all true. I dont lie. My drive was being first gen American and growing up on poverty. As such i don't care for luxuries. Never even owned a new car. Bought mine used for cash. My family and my dog are my priorities. Mexican culture.
@@MrBemnet1 very true. I'm gay, and make my plans clear. My partner will also have a career. I'm sure we will align mostly because my driving force is to never be financially unstable. I could quickly pick up how they are with their finances.
@@djm2189 Rolling my eyes, no one cares, I know what you're trying to do. Go away.
Become a Landlord on a state/city that is landlord friendly. Do it fast before Blackrock/Vanguard buys all the real estate.
how? invest in off shore tax heavens
Life’s been tough just to break even. How about retiring with no savings…just social security
I understand how you feel but when life feels so tough you need to keep on going no matter what, and that’s when you unlock the good things. Trust me
Who are you making this content for lol? The average is 250 000$
''The Federal Reserve's most recent data reveals that the average American has $65,000 in retirement savings. By their retirement age, the average is estimated to be $255,200.''
And yes, ridicualously risky nowadays to keep 1 million in retirment savings anyways
They included pension also
I don't trade, I invest with a professional assigned by a crypto company that trades for us and returns profits on weekly basis for me and you can invest your capital and get weekly Returns of investment (ROI) without any extra fees attached.
The professional is Mrs Danice perez
^Wow, I really recommend Expert Ms danice .she's been the key to my successful life and three of my friends also trade with her.
I'm really surprised you guys are familiar with Mrs Danice perez
...Please I'm new at this,how can she be contacted
Smoke and mirrors !
I don't mind paying taxes now for other people's medical care in the future since I know someone else is doing the same for me. Also, me paying into Social Security today is going to people like my grandparents who need that money they earned after decades of hard work, & I hope decades down the road the system will still be there for me if I need that financial aid.
Wouldn't it be nice if you could just keep your money from decades of work instead of getting it stolen from you and you just have to hope there's a base in the future to keep the pyramid up?
Ideally, current taxes into SS should fund future withdrawals. It’s not supposed to fund accrued benefits. Your perspective of SS is altruistic but unfortunately flawed.
@@bobthemagicmoose No, it wouldn't. Read about "law of large numbers". When you have a large sample size you can approximate the mean with high confidence. When you pay into government's national system the sample size is so large that it evens out among people who live very long vs very short, people who incur very high health related costs vs very small. As an individual person, if you do that saving yourself your risk is infinitely high that your savings may not be enough because you have no idea how long you (as an individual) will live, how much health care costs you will incur etc. Look at Europe, Canada, UK, Australia and rest of the world, they all use Jesse's system. Those are examples that retirement should be through government instead of individual people save. I would prefer that SS tax is 20% yet government guarantees free healthcare plus decent pension until I die, that's true piece of mind. Your idea on the other hand is sugarcoated by capitalists and flawed from many angles including statistics and common sense, yet you will not understand because capitalists fed you their story
You should seriously considered annuities for retirement income.
With $1,000,000, you will get a guarantied monthly income of $5,000 for life!
Monthly income like monthly bills cost of living bottom line money is life everything cost money money money money
* tied or * teed ?
Annuity salesmen make $$$ commission to rope you into one, buyer beware. I would rather cut the middle man fees and pay myself in interest.
Annuities are sold, not bought.
@@KayFabe87
Take the time to think: In any transactions, there is a seller and a buyer!
Men, NEVER get married. A relationship fallout/divorce will ruin you! Men, be safe, stay single!
Yoda!
I’m a female and I can definitely say male / female doesn’t matter in a community property state. It’s who earned more. In my case, I earned more than my x. My advice is don’t get married. Prenups provide limited protection if married over 10 years.
Give $10,000 to someone who can survive on that.
😺
1 mil is nothing. The current FU number is $2.5 mils per person.
What's your FU number ?