It’s A LIE!
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- Опубліковано 10 лют 2025
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3) Please note that some people call themselves "fee-based". This is NOT the same as fee-only. Fee-only advisers have committed to being fiduciary to you 100% of the time.
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Be careful of scammers. In the comments section, I will NEVER ask you to contact me, offer any investment products, recommend a stock broker, or anything similar. Some scam bot commenters 'ask' for investment help, and later, other comment bots reply with "how great X idea/investment/person is" in the replies. These are scam threads. Do not fall for them.
🚨 Azul's VIDEOS ARE NOT FINANCIAL ADVICE (Disclaimer) 🚨
This information is only provided as an informational resource and should not be viewed as investment advice or recommendations. To get professional financial advice from a fee-only financial advisor near you, please visit www.napfa.org.
The decisions on how to invest, when to retire, and other financial planning topics are some of the most important financial decisions you will make in your life. I urge you to seek professional financial advice as you make this decision. Ideally, from a financial adviser, AND a CPA AND an attorney. Having the perspective of all three professions will help you make the right decision for you and your family.
This information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and may NOT be suitable for all investors.
This information is NOT intended to, and should NOT, form a primary basis for any investment decision that you may make. Always consult your own legal, tax, and/or investment advisor before making any investment/tax/estate/financial planning considerations or decisions.
Spoiler Alert: There are no "get rich" programs. Rather, just basic blocking & tackling and putting in time and care. Do your homework, choose wisely and (IMHO) work with experienced professionals who are fiduciary to you 100% of the time.
*403 {Hammad}[Hammad] Are You Being Manipulated?
It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I completely agree; I am 60 years old, recently retired, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
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 but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Jessica Dawn Walters who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look Jessica up and send her a message. You've truly motivated me. God's blessings on you.
Most of the analyses I've seen are focused on married couples or "household", which usually means dual Social Security income, dual savings/retirement accounts, and shared expenses. It seems that a comfortable retirement is a lot more financially challenging for single retirees.
Exactly
Yep, that's why I will be working well over 70 yrs old.😢
Yes and no.
Everything would be hunky dory if each partner pulls their weight. But that usually does not happen. So one partner is subsidizing the other.
If the couple splits, the "lazy one" is in a (big) advantage.
Can you set up a filter that screens out the words “advisor”, “advisors”, “fortunate” and deletes the scam bots?
Health care is the big factor. A lot of people probably already have enough to live a decent lifestyle with what they have saved if health care costs are not factored in.
This is a very under rated comment. It is the #1 factor we think will delay my households early retirement.
Exactly! If it was not for the cost of healthcare, i could retire right now at age 53.
That's what I keep bringing up!
We/Many can manage money/numbers.We just can't manage insurance and healthcare Especially early.... Unless you're a teacher, Police officer Or government person, And pension people can be left out Of most conversations.
Spot on. Healthcare costs in the US is the elephant that will crush you!
I pay 380/month for a medicare advantage plan and my out of pocket which goes up every year is $6200 which I use due to health issues. So other odds and ends (denitist) I pay around $1000/month. Not sure how these people that retire early handle their medical. Wished I had put more into my HSA when I was working. Getting drained fast. Had no idea my medical would be so much. 67
I wish you a long fun life. I am a 65yo fat lazy guy. Retired at 51 and still going. We do what we can and want, have been spending 80k to 95k each year. No debt, old cars and living in same home I paid cash for in 1990.😊
I am approaching that age and have enough money, then some. Cant figure out what I will do though. What you been doing all these years? How did you cover healthcare?
Azul, please always specify whether your income & expenditure figures are for an individual or household.
One thing I tend to see ignored in these types of videos are pensions. A 4% withdrawal rate on 1 Million is 40K/yr, so if you have a 40K/yr pension, you effectively have 1 Million dollars that will never show up on your Net Worth statement. Far more people over the age of 60 have access to some sort of pension compared to people under 60 today. That's why most people now think you need so much money to retire - because if you are under 60, you probably do.
well said. Boomers tend to think from 1st person perspectives, and forget that not everyone has a paid off house they bought in the 90s, a cushy pension, and grandkids they can lean on for support.
We didn't retire until we were comfortable that we could take our annual draws, vacations, and budget for home maintenance while the portfolio still grew every year. Not interested in playing draw-down roulette.
It completely depends on your expenses and what other income you will have. There is no one size fits all rule. My Dad retired from his main career at 49 when he got passed over for a promotion, he then worked for 4 years at the post office to complete his 10yr federal pension. He had less than $750k and never touched the principle, between SS at 62, his federal pension, and my Mom's pension death benefit he continued to live below his income until we moved him into a memory care facility. Now he is spending a little more than his income but he has close to $1.5 million. On the other hand I plan on traveling in style for a number of years in my retirement that just started, so I determined I would need $2.3 million minimum, and I surpassed it.
I’m with you. My father in law retired on about $350,000. But I don’t want to paint model trains the rest of my life. So I am going to need the 2 million. Depending on the market I should be there in 7-10 years.
The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow the 100k I have saved seperately outside retirement access which of course had depleted over the years?
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I completely agree; I am in my mid 50s, approaching retirement, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
This is exactly how i wish to get my finances coordinated ahead of retirement. Can you recommend the financial advisor you used to get ahead?
I've experimented with a few over the past years, but I've stuck with ‘’Lisa Grace Myer” for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
I've seen "optimal health" peaking at 63 and if people retire at 65 they're already in decline statistically. This is the critical point to digest
Most retirees could get by on less, but most don’t want to.
The big problem is inflation. Government statistics deliberately underestimate inflation. It used to be, that you'd just factor in about 3 or 4 percent inflation per year, but if somebody retired in 2018, thinking inflation would be 3 or 4 percent a year for the next 10 years, they'd be in for an unbelievably rude awakening. The value of money basically dropped 30 percent in 4 years from 2020 to 2024. Exponentially more than the typical 3 or 4 percent. We're living in a different world now. We're all going to need WAY THE F more money than we think we will.
I retired with $600,000 in 2009. Invested it all in a few good stocks. Now have several million dollars that’s still left and that’s after paying for our living expenses for the last 15 years from the stock capital gains Buying a few good stocks and holding I found to be the best way to generate retirement income contrary to what a lot of money managers say. I don’t use a financial adviser. Good stocks like Apple Microsoft Google and Tesla provide good Capital Gains over a 5-10 year period
I “decided” to retire when reached full retirement age for SS and had 1.6M in investments and no debt. We saved and still live frugally and live really well.
My husband started at 70 years old gets over $4,00 per month social security. Both in our 90s and very healthy.
Our consumption driven life programmed us to fear ROOM so we delay retirement. It is also detrimental to a long healthspan. If we cut back on restaurant/takeout $ meals, we save a lot while benefit from a healthier diet by cooking at home with good ingredients. Same goes for yard work, routine home/car maintenance. Move, do things. Cut subscriptions that provide little value. Wash & repeat.
I'm very eager to retire and do the things I've been dreaming about, so I'd love to believe I don't need 1.5MM. But the outlook for costs of housing, healthcare, long term care and travel seems to be way above the inflation rate. Being single, I'll have pay for a lot of handyman and caretaking services I see my handy father providing for my now-blind, dependent mother. I'd want to take classes and do social activities, and those costs add up fast. And even assuming I'll have to move from my very expensive state, the states I'd target for quality of life and climate would still be fairly expensive.
I've plugged my numbers into retirement planning software and it seems like $1.5MM would be even a bit low, especially when I add to the model a few years of assisted living and long term care.
It all comes down to lifestyle and health. We hope to retire to Hawaii where housing is expensive. A 2 bedroom condo is about $700k and 600/mo fees. A home in the dream neighborhood is almost $2M. Living expenses are probably $150k/yr. So minimum I would want is $5M for the condo life, or $7M for the home.
The answer to "Do I have enough money to retire" is always, it depends. Do you want to live in Boston or Topeka (Kansas or Indiana, your choice)? Where you live, as well as how you live, makes a huge difference. What are your expectations? Are they "reasonable" or overly optimistic?
The more you have the more you need to feel safe.
0 saving should have been included bacause there are millions who retire with only social security!!!!!
I think the amount of funds / savings needed in retirement is the wrong question. It should focus on how much one needs to live on vs their income in retirement. I (me and my wife) retired about 9 years ago with $1MM in invested funds. Since then, we have finished paying off our home (about $200K since retirement)... We live on about $100K a year... And that $1MM we started with is still at $1MM. Between SSA and Pension, we bring home about $80K and from invested funds, we earn about $95K a year. My wife an I are at 67 years old now and have not downgraded our living style during retirement
$1.5-million is about what I’m shooting for in retirement - my home will be paid off and as of right now, I carry zero credit card or car loan debt. I suspect I will likely need at least a couple vehicles during my retirement years, so I might not stay “debt free” in the car department - we’ll see…….🤔
We recently bought a car. The driving factor was that it is a 0% loan. It allowed us to keep our cash in the market, instead of yanking it out to buy a depreciating asset. Our car payment comes directly from the interest generated from our non retirement investment accounts.
Me too... but because i'm calculating it for 30-40 years. The amount depends of the lifestyle and the age. I'm calculating the effect of inflation for 40 years, and doing it with the worst case scenario in mind. For someone older it will be less, an for someone youngef it will be more. It's not the same retiring with 65 years in 2055 than dling it in 2065
Just be careful if you are counting the value of your sold-off home in any #'s needed for retirement. It's not "working" net-worth unless you plan on doing a reverse mortgage or selling and investing some of the gains, otherwise a paidoff home just reduces monthly expenditures.
@ - Yes, the value of my home is not figured in my $1.5 million…….👍
Is America that expensive?
One thing I havent understood is how housing factors into retirement. Housing is the largest expense in your lifetime but if your house is paid off by retirement time, then your expenses should drop drastically. I dont know why I never hear this in any analysis of retirement, so I dont know how to factor it in myself.
I don’t think the “paid-off housing” boost is anywhere near what many people think - you still have perpetually rising taxes and insurance and also need to account for ongoing maintenance, including big-ticket items like a roof or new HVAC system…….🤔
Paid off housing means a significant portion of your assets is tied up in your house. You may eventually need to sell your house to have enough to live on.
2 mil. In my high taxed red state. Want to move, but my wife and her/my grandkids.
"Living comfortably" is too subjective to base a number on, if your lifestyle is extravagant then you know you'll need more, but you have to be honest with yourself. The "final number" isn't as important as how you prepare for retirement, such as cleaning up debt, investing to hedge inflation, and banking cash to get through emergencies and market turbulence.
I don't give any credibility to these "People BELIEVE they need" articles. People BELIEVE all kinds of stupid things.
May as well title it "Bigfoot told me that I need $2 million to retire!"
This would be a great title. Lots of clicks.
That's rich! I agree, it would be a great title for a book!
It is because of health care. My mom racked up around $500,000 of medical bills due to cancer. Medicare and Medigap pay out about half that. That is $250,000 per person, per big medical event. For a couple that is half a million, and that is before Long-Term care, which neither Medicare nor Medigap cover for more than just a few weeks. Some people were born with poir genetics, i know that i will most likly get cancer too, on top of my Fibromyalgia. I cannot even get Long Term care insurance, due to my existing health problems. So yes, I need AT LEAST $1.5 million, probably more.
Each person is wildly different. I own a small biz that 90% runs itself and pays me $250k per year. Why would I ever retire? Maybe if I sell it only...
Hi Azul. Thanks for the video. Could you add the link to the savings needed for a comfortable retirement chart? Trying to convince my wife to move from MA to NC! Great stuff as always. 😊
Tired of hearting about everyone else’s medium savings and averages are. What you need is different for everyone’s different lifestyle, and spending needs are.
To me this is more or less simple to figure out assuming you have a good handle on what you spend.
Social Security (or pension) + Investment income - income taxes >= expenses. And I assume the 4% rule is more or less OK.
So, for example: Social Security income = 50k Investment income 40K (4% of $1,000,000) = 90K - 10K taxes (max) = 80K >= expenses. Inflation has to be figured in. I assume 3%. So, investments need to make 7% (4% + 3%).
50k from SSI seems a stretch.
@@fendermon not really, average for 2025 per worker: $1,976 x 12 = 23,712 x 2 (couple) = $47,424. My $50K was for a couple. Possibly average couple/family is less than that. I could not quickly find data on that.
Something to consider would be separating the net worth for different age cohorts.
For instance, I am 45 and want to be retired at 53-55. I think I need 2 million because I would be way too young g to draw social security.
But if I was 55 and wanting to retire at 63-65, my number would be 1M due to social security becoming a factor.
I had lint in my pocket along with an old piece of bubble gum. I invested it in 2020 and now I’m a billionaire. Shooting for 1,000 pieces of lint and 20 pieces of bubble gum. Oh you’re not on my level? Well that sucks for you. You should have invested your lint and gum better.
I love your videos. They are VERY informative. Thank you.
Well, this video is a huge moral boost for me. The math here is just so brutal. And trying to balance living for today with preparing for the firure seems almost impossible sometimes. Especially eith the collective groupthink if Financial YouYube parroting mantras and echoung numbers without any context. Thanks fur being down to earth and providing more perspective.
I think one of the weird things is people invest like they make 200k but live like they make 50k. Then, when they get to retirement, they realize they don’t need all the money.
But during the video where it was showing the typical expenses, they didn't even have a category for "vacations/travel". The Fuck? Who is retired that doesn't want to vacation and travel. Their breakdown was quite unrealistic.
Are these numbers for a household or for individuals?
Was at 2.9m last month. Now down to 2.3m but I’m 39 and live in South America. Haven’t worked in 5 years.
Many people have an exaggerated idea of how much money they need due to propaganda by investment companies that say you need 7 figures to avoid sliding into poverty. People should remember that these same companies have a vested interest in getting people to invest with them. Either crunch the numbers yourself or get an objective financial advisor to help you. You might be surprised that the amount is not that high.
At 950k at 43 in Illinois. Targeting 3.5 million to retire by 55. I'm currently living well below my means and investing $3250/ mo. Would need to average 11% to hit that target though. Over the past 8 years I've averaged 18% thanks in part to Nvidia, but no guarantee i can maintain that level.
Its never to late to start. At 36 years old I had ZERO. I bought my first IRA at VG in 1997. I just looked at some of my notebooks. End of year 2004, we had $79K. Age 44. I just retired in October at 64. I used Vanguard Index funds for my wife and I and we religiously followed the CoffeeHouse Investor strategy. By far the most important book I've ever read.
Before one can determine how much they need to save, they need to do something very important. They need to define what “retirement” means to them and their spouse. Being able to spend $3,800 on travel and entertainment might be good for some and prison for others. You can’t plan for the “average” person’s retirement.
Averages mean little other than yard stick but I wouldn't base my decisions on them. Unless you aspire to be average.
It is always about expenses nothing more nothing less. Meet with a planner for an analysis of your specific situation. Peace of mind is worth the money. These average expenses and average retirement income articles are a waste of time.
I just asked my parents what they spend on expenses and they said around 2-3k. I was shocked how low it was. I told them they need to spend some money !!!!
We just ‘need’ less. We never needed stuff before but didn’t know it.
I thought seniors need $300k for medical expenses alone?
$400 a month approx. that comes out of you social security check to pay for medicare and a supplement. So one way to look at that is you really dont need to save for that as i comes out of your check
Maybe for two people for 30 years.
You don't pay it up front, as someone said it's taken from your SS check.
IMO, the idea that your net worth would diminish at retirement, rather than increase throughout you life (barring an astronomical health expense) is nuts.
Regarding how much you have left of your portfolio after 18 years… note it is in nominal dollars ( not adjusted for inflation). Although may have 100% of what you started with, you will not have the same purchasing power
From $0 to $1M, an investment account growth looks fairly linear. Around $1.5M invested, it reaches "critical mass" and starts growing exponentially, when your money starts making real money all by itself due to the compounding effect.
hi, when you talk about numbers, do you generally refer to household saving or individual saving? Thanks!
Certainly food for thought - but I like what I do and right now, can work from home and I live in a walkable and bikeable area in Arizona (near ASU) if things change I certainly might consider not working full time but big concern is health care, if I had a health issue.
Planning to retire in 20 years? With rising inflation, the cost to maintain your current lifestyle could reach $2.6 million or more. The combination of high inflation, lower projected stock market returns, and stagnant wages makes securing an early retirement more challenging than ever
A good way to invest during a recession is by buying stocks in sectors like consumer staples, utilities, and healthcare, which usually stay strong. But it's important to consult a financial advisor before making these decisions.
These factors definitely play a part when I think about whether to invest in a stock. But I never make a purchase based solely on that. I always consult my financial advisor, who has helped me build a well-diversified portfolio worth $985k, which has seen tremendous growth.
@@Jeffcraparo This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?
There are several independent advisors you could research. However, I have been working with “ Annette Marie Holt” for almost four years, and we get along great. If she appeals to your judgement, you could continue with her. I support her.
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.
I have almost no savings, but house is depth free, but will get a6K monthly pension, after taxes maybe 4K net. Will adapt my spending accordingly, 26 months to go :)
Another great video by Azul. I too believe it's a lie. Nobody needs over $1 Million to retire. It depends on lifestyle.
I could manage with $1 million, but I'd need to rely on social security. That's only $45k with a 4.5% withdrawal rate.
So is the Fidelity recommendation on saving by age based on gross salary or actual bring home pay?
While the average expenditure from 2012 to 2020 for 65+ year olds grew faster than inflation, I wonder if that is the result of RMDs kicking in and people realizing they have more money to spend? Or maybe it was spouse A taking SS at 62, then spouse 2 taking at 70...at some point you have more money and are likely to spend it since your time to use it is always getting shorter. Or it could be that Americans pay high healthcare insurance rates, but at 65 Medicare kicks in an healthcare costs become comparatively more reasonable. Or, since you have had a few years in retirement, you may be getting comfortable realizing your plan is working and you can enjoy more cash.
It all depends on the price of eggs in the future
It doesn’t matter what the average person thinks you need. Sadly, it also doesn’t matter how much the average person has.
The relevant amount is based on how much the average person will spend and the amount necessary to fund the spending.
Adjustments need to be made for local cost of living, retirement age, number of people in the household and personal factors such as anticipated SSI, any pension, mortgage, and so on.
Money coming in minus the money going out. With a reasonable emergency fund. For most people unplanned medical cost and not being debt free. Will hurt or break a retirement plan. Some of the monthly amounts needed a month to retire sounds very inflated. Most folks around us claim they can't spend what they make in retirement a month. We are going to have more money in the end than in the beginning. Yes we travel and have to many toys. Started with 500,00 (Roth) and couple rental properties. Yes of course debt free.
The Madison Trust company report around 6:00 appears to not take into account Social Security. All the report seems to do is take the average expenditures* the number of years to age 80 to come up with the savings needed. Your information said the retirement expenditures needed for a couple was ~$57,000. The average Social Security payment is $1907, so 1907*2 (for the couple)*12 months = $45,768. The the extra income would only be ~$11,232/yr. Multiplying this times 15 years (assuming retirement at 65) = $168,480 which seems much more reasonable given the average savings you are reporting.
I don't know what to think of these numbers. At one point you said the average person over 65 is spending 57k per year. I don't spend that much now. I make more than that but I spend around 21,000 not counting gas (but I am counting groceries). I am still working at 60 (my salary is around 63K). I will receive a small pension and all my ssn numbers are well above the averages you gave near the end.
Could you please start adding chapter markers/ time stamps to come back to your videos for quick reference and review of various points in each video? Hope you'll consider it!! Thanks so much for all the useful and relevant information you share!
It doesn’t seem that any of those amounts include making investment income. Straight line division. Who buries their money in the back yard? If you have $1.5m and make 7% annually you are pulling down 105k per year and not touching the principal. After that add in Social Security at 45k you would be making about 150k per year. So you really need to calculate what you need to have as income to meet your expenses. Subtract out Social Security and other income streams then think about what rate of return you can achieve on money that you’ve saved and that will get you your savings number. Everyone is going to be different.
Should I have my IRA all with one company to get better cost to manage or is it better to split with couple money managers
Definitely split. If banks collapse again who knows what will go down with them.
It’s anxiety that makes us hang on to the value of these videos.
Get a pencil and paper 1980s style, and doodle out all your expected expenses and your realistic bucket list. Then build in a 2.5% year COLA escalation.
We calculated a retirement from age 62 to 92 and we still have a little cushion.
Get that #2 pencil in gear.
Doing that is so much easier on an Excel spreadsheet, as it does the math for you!
@ Absolutely. Sure, but those folks really savvy with numbers and spreadsheets certainly already have a clear view of how they’re doing for retirement goals.
(I check in on these videos to see how I compare to the pack. My decades of commitment and sacrifice are behind me. All I need now, is health to be with me and mine.)
What is the current debt, what do you assume inflation will be, what will bonds pay, what will be the return on stocks, will there be a big health cost. All probabilities that you have to simulate (monte carlo).
A lot of unknowns you have to make assumptions. A lot of range of outcomes.
I think you need to have $1 million plus a paid off house, car, no debt in addition to whatever SS brings. Anything less than that and you are going to have to make sacrifices. But it doesn't provide a buffer.
$2 million leaves you comfortable, provides a buffer and doesn't restrict what you want to do like travel pretty extensively, help out family, buy another car, upgrade your house, etc.
A million dollars isn't what it used to be. Old heads have a hard time with inflation (as they slept walked through it for 40 years while punching down at younger generations.) So they tend to get stuck on the notational amount, instead of the amount of goods and services you can buy.
$1M is not even close to enough to retire:
1) Real interest rates are lower than inflation.
2) Market returns lower than inflation.
3) SS COL adjustments are less than inflation.
4) No pensions for most people under 50.
5) Most people cannot afford homes, stocks and do not benefit from rising asset prices.
6) Replacement costs for durable goods (like cars) are out of control. If you need to replace a car, appliance, or medical device you will spend a significant % of your nest egg. Permanently reducing your interest payment driven cashflow.
To expect to live off of $50k today, is silly, let alone in 10 years or more. We've doomed our children and grandkids
Good post, Yes you are cooked if you plan to live off 5% of a mil. Without a pension a person would have to be a landlord, earn regular double digit returns in the stock market, or be some lucky crypto gambler.
Where do you get the idea thst market returns are less than inflation?
Seems a bit general to say you don’t need that much. every retiree expects a different level of ‘comfort’. ‘comfortable retirement’ means something different to every single person.
We are now a few months away from XAI308K launching - Elon Musk said the presale is over soon!! Get in while you can
All repetitive.
The main question/concern is health insurance... that is If you're not a teacher, police officer/Government worker, Or 65 y/o. And exclude pension people.
Otherwise I think it would be much easier for the general population to Navigate Retirement early.
my gosh why are people so stressed in USA. Isn't Japan the most stressful place to work yet they have the highest longevity..crazy.
Probably about 5 mil is the minimum these days to have a good time
Do you have any idea how much 5 million is?
I retired at 56 without 5 million and know what? I'm still retired at 59
Exactly, key is to retire with no debt. Unless you want to travel the world in retirement you really don't need much when everything is paid for.
That would result in $225,000 a year at a 4.5% withdrawal rate. That's waaaaay more than I spend now. After saving for retirement, I only spend around $50k a year and that's with a mortgage that will be paid off before I retire.
Seniors see the rapidly inflating costs of medical care, assisted living, retirement homes, nursing facilities, and hospice care, and this is why they believe they need more money than average inflation. Even early retirees, who want to retire and move to Florida are hit with rapidly inflating real estate costs that put Florida 25% above average cost of homes.
My employer provides a defined benefit pension, not a 401k. When calculating net worth, how does the pension factor in. My rough estimate is that my pension (covers me and wife, includes generous COL adjustments) would cost about 1 million to replicate with an annuity.
Not sure that you looking to right direction. Calculate what are your expenses are and add an inflation rate to it. Now check will you pension cover current and future expenses. Having 1,2,5, million is nice but it doesn't paint the whole picture. Some people may have 500K in savings and feel better in retirement than those with 1,2, or 5 mil, because in addition to their pension or SSA checks they may have properties or investments that generate additional monthly income.
My outlook on money changed when I realized that is better to invest on or before retirement, some people are just putting £15k or £20k With the current market movement at the end of the year they are making millions.
Yes I agree with you on that. I was once a holder with about 3BTC, 7ETH and $8000 worth of lite coin but now after investing have about 17BTC and 21 ETH
Investment is currently the most lucrative business in the world. Both real estate, Stock, and Cryptocurrencies are positively changing people's lives.
Please how do I go about it, because I have lost a lot of funds when I try to trade alone😭 I hope she will recover my losses.
Making touch with financial advisors like Elizabeth Regina Nelson who can assist you restructure your portfolio, would be a very creative option. Personal financial management will be crucial to navigating the next difficult times
She is really a good investment advisor. I was privileged to attend some of her seminars. That's how I started my own crypto investment
Social Security is a lot higher now than this video was made. I just looked yesterday and it says I would receive 3400.00 a month. I'm only 59 1/2 and that number will rise in the next 6 years.
And so will inflation.
Simple 25 times your annual costs to be comfortable 15 times to have a simple retirement
ya its a lie. My SS + 2 tiny pensions will give me $50K a year for life. My bills are only $43k. In theory I should not need my 403b nor my 401k nor my roth.
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get a lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Don't put all your eggs in one basket; instead, diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
Melissa Terri Swayne is the coach that guides me, She has years of financial market experience, you can use something else but for me her strategy works hence my result. She provides entry and exit point for the securities I focus on.
Thank you for this tip. It was easy to find your coach on web. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
My mother needed 24-hr caregiver when she had her 1st hip replacement surgery and the caregiving fee was $220 a day in June 2025. After her 2nd hip replacement surgery, she needed 24/7 caregiving , it costs $315 a day now in January 1st,2025.
I manage my mother's finances and everything else since 1999.
With exorbitant 24/7 caregiving fees, yes, we need Millions of $$$$$$$$. Caregiving fees are rising beyond control, her business income is significantly depleted by this expense.
Is it exorbitant though? 24 hour care at $315/day is $13/h. Would you do that for $13/h?
@snorkyb2257. You just made the OP's point. Many people WILL need millions of dollars to retire with due to healthcare, because if $13/hr 24 hrs a day is the LOW end, imagine how much it would cost for an experienced caregiver?!
No one's manipulating you. PS These aren't the droids you're looking for
No matter how much you have saved, if you have to ask "can I retire"? Believe me, you are not ready.
Social Security's future level of generosity may not match it's current levels.
If you like Azul you'll love 2x speed Azul
Too much poor advice out there. Before you retire make sure you have learnt to live on less. Stop buying stuff. Don't keep buying new cars. Control spending and be good at it.
How many of those living comfortably in retirement today have their home paid for. My best friend is a renter so he will not have the security I will have in retirement. So while we make similar incomes - our retirements will be vastly different. I contend that for those in their early 50’s like myself - you will need far more than $1.5M even if your home is paid for.
With climate change, and issues like more powerful hurricanes and faster-developing/spreading wildfires, renting comes with its own angle of "security": the ability to pick up and move more easily, should the need arise, without having a big chunk of your net worth tied up in a disaster area property for what could be years? Yes, there's insurance, but if you're say 75, do you really want the hassle of fighting claims adjusters for possibly years?
2.5 Million
You likey don't need that much if you don't overspend, invest, live with someone and split bills. If your investments are keeping up with inflation. If you have $1M that would give you $25k/year for 40 years. Plus any SSA you get after 62. You likey will have to spend more than that until your 62+. So you can't spend too much if you want it to last long.
I'm 60 with 13 time my annual of 70k , I keep flipping between I have enough, and I still need more. I save and don't enjoy life. I need to change soon. my main worry is I rent and have no home.
create a spread sheet with the each row being your income sources and the columns years starting at 62 and going to 96. row 1 is SS, row 2 is 401k, row 3 Roth, etc. I created 3 versions of it, best age to retire and best age to collect SS. At the bottom of each column is total of income from all sources and how much I spend. I only need 43k a year and my income will be 50k just with SS + two small pensions if I start collecting at 66. I dont really even need my 401k, I will use it to fill the gaps.
I am 10 times my annual and still think it is not enough. Will I ever feel secure? 😅
Does "net worth" include pension funds?
My opinion is that it definitely should include the present value of a pension fund, meaning the cost of replicating the pension with an annuity if purchased today.
Yes it should, maybe take the value of the lump sum and add that to your net worth
Yes is a passive income
Knowing how much a person has saved is insufficient to gauge whether the person can retire comfortably. First, “saved” is a term of convenience. People actually have money “invested,” which is the same as saying that they have staked their fortune on the turn of a roulette wheel. Second, how a person’s retirement money is allocated is in many cases more important than the absolute amount “saved.” If all of your savings is in qualified accounts, then you’ve set yourself up for the gigantic tax torpedo.
While I don’t have over $1mil in my investment account, my saving grace will be multiple income streams. Military retirement and disability, teachers retirement, pretty nice social security check, part time job (fun money). Don’t plan on touching my IRA, until I reach RMD age. Not sure how we’ll use my wife’s social security and IRA.
At 57,818 in annual spending you need about 1.5 million.
Are you assuming no social security?
Not if you have a pension and social security
@@RyanBerich-u1w correct, I am. I am part of the FIRE movement. My goal is for my portfolio solely to take care of my retirement.
@@kevinfestner6126 I suggest you create a spreadsheet with all the relevant factors. Income sources and expenses. Include car replacements, the impact of the mortgage being paid off, major home repairs, kids college, and so on. My model includes 3% inflation. 7% return on investments, and 2% increases in SSI, pension and wages. My model goes to 100 with a row for each month. I went back a few years to make sure my estimates are realistic. I didn’t make adjustments in the model for where returns and income were better than expected but I did refine the model where expenses were higher than expected.
Well all this depends on how you look at things. If you have social security then that takes care of a big chunk of that.. But even if you take social security out of the picture, if you have a some time $500k would be more than enough to get you the $58k, it's all about leverage and risk
There will be a gigantic shift from BTC to XAI308K...this will be a fact. Still baffled by Michael Saylor's position.
No. You need 3 million, which using the 4% rule is only 120k a year.
ONLY 120k a year? Only 12 percent of people make over 120k a year.
if u havent bought XRP or XAI308K this cycle you will miss out on bags of $$$$
You can retire on a fraction of that amount. It's all about how much you still owe for your residence and how good or poor your spending habits are. What do you consider 'acceptable' accommodations? etc
Got in early because XAI308K is already predicted to pass $2 by June.