I still have work to do but since joining your channel and Patreon, my worries and stress of future financial freedom is minimal! I'm keeping my "tap dancing shoes" on and excited for the future! I will be forever grateful to you and your team James!! 🙏🙏
Hi James, I watch you infrequently lately but this video intrigued me. My husband had a stroke in Jan and I’m his caregiver. We were both retired when your channel started but had part time jobs we liked. I invested that extra money. Now, neither of us can work. We never know what will happen. My advice to the young people, make good financial decisions when young. A bit of discipline and planning goes a long way. My best to you all.
I'm so sorry to hear about your husband's illness. My heart goes out to you both. It must have taken a lot of courage to share this news, and I'm glad you're willing to help others who are going through the same thing. I hope your husband has a speedy recovery. Please let me know if there's anything I can do to help. Take care of yourself, and know that you're not alone in this.
There is just no way to adequately thank you, James, except by putting your information into action, which I've been doing for two years now. You and your team are the best.
James, love your channel. I believe the facts are very inflated due to the wealth of others. I believe people over 75 here in the US are living on 3k or less monthly.
Thanks James & crew, this is much needed info and should make people more aware. In the Netherlands witch had the best pension fund in the world! Government change the pension laws and now we are F-ed. Have to plan harder now to have a good backup and want quit early as well.
Amazing video, we all owe you greatly for the work you've done. Even though I've already retired, I'm shifting into retirement 2.0 - which means more TSLA and BTC.
By starting early and keep DCAing. If/when the market turns, we will be winners. Started 2020 after the C crash and kept stacking. Never been in the red so far. Doubt I'll ever be.
I am 57 now and planning on moving to Thailand in 5 years at 62. I have 147k in 401k, I have 5 more years in putting in the max after taxes (Roth) I have 1 BTC and 4 Eth. I owe 100k on a condo here appraised at 300k. I have 50k in other stocks. I will rent my condo here when I leave and will receive 2k a month and the model on my 401k says I will receive 5k including SS a month. If everything goes to plan, I should be getting a 6-7k a month income in a much cheaper location in Thaialnd where they say you can live a good life on 3-4 k a month. Will I survive or should I jump off a boat now? haha
the minute your goals remove any allocation to impressing others, it all becomes very achievable. Thanks for this video, I like the humility and pragmatism
"Average" is the number that skews up or down. The median is the 50th percentile and the true middle of the data. Use "mode" if you want to show a data set has a large amount of the same value.
Great video, I am an adviser with retirement plans, the vast vast majority have little saved. I think it’s a ticking time bomb no one is talking about.
I found this frustrating because I am one of those who will never get to a million (66 already). The more relevant question is can you retire on $30,000 annually ? This will be the position of most people. I don’t qualify for social security so am reliant on my savings of 400k
I was stationed in S. Korea 2013-2016 and I found it interesting and cool to see a lot of retired people working. I spoke with as many as I could as to why they worked and the narrative was pretty much same for all of them. To help there kids and grandchildren get out of credit card debt. The older generation didn't have access to credit cards. But the new generation uses credit cards like crazy.
Really necessary video James, brilliant. I have seen guys retire with a company pension (plus government pension) and expecting it to have been enough to live on and get a shock when they see the figures. They hadnt even looked at there pension during their careers until it was too late. Look forward to more of these. Cheers
Hope the plan isn't purely off the retire on series, because this video proves that them videos aren't anywhere near enough money to reach the retirement money needed in this video
James, thank you, this is so important, quite scary and can make you feel quite deflated. It’s real and needs to be faced by everyone. You efforts are making such a huge difference for all of us. Good Job
Tried to comment and found out I needed to subscribe. I have been subscribed for close to three years now. No wonder things were not showing in my recommendations.
Man I live in Ontario and we can’t opt out of retirement savings. I think it’s good people are automatically in this, but I should be allowed to opt out. You can’t unless you have really specific circumstances occurring and it’s a pain. So I have to let my moneys sit and deteriorate for decades 😭
I'm saving, investing, and planning for my future as if my job will be closed the next day. It can happen to anyone hopefully not you or I. And we get the time to prepare to be financially independent.
@@InvestAnswers of course! I had unsubscribed from many crypto UA-cam channels; yours survived my filter😄. You are providing very healthy content, a gift for us navigating the financial space.
James, thank you for pulling together all of the data from the survey that you took on your channel. I’m listening to this some days after it was initially released, but super grateful to listen to it, and it helped me to take some good notes! 🙏👏✌️😊
Canada has free health care. It's not free! Taxed to the hilt all my working years. Oddly I used the hospital several times in my life and did have a checkup every year. Been retired for 3 years, taking the best care for myself. I am on a waiting list because I have no family doctor. I'm saving taxpayer dollars for 3 years. If I have medical concerns, I consult my pharmacist.
@@InvestAnswers Looks like Elon dumped his BTC. I think it will go lower because people will follow. I am going to wait to add. See what tomorrow brings. Saylorenergy: BTC in space, solar powered. Just need Saylor to get on board. 😂
The key idea of the video is that many Americans are not adequately prepared for retirement and need to develop a realistic plan that includes saving, investing, and considering alternative options such as Bitcoin. 00:00 💥 Half of American families have no retirement savings, global life expectancy is increasing, and healthcare costs in retirement are a major concern. 08:54 💥 Social Security and pension programs will become insolvent, leading to increased inflation and the need for individuals to spend a significant amount of money on healthcare expenses, including drugs and health insurance, making it necessary to have more than just a quarter million dollars in retirement savings. 14:28 💥 Many gig and contract workers are not saving for retirement, and pandemic savings are expected to run out by Q3 2023, emphasizing the need for a game plan to rewire retirement. 18:43 💥 Women retire earlier, have less savings, and are less likely to participate in retirement plans, while the duration of a million dollars in retirement varies by city. 21:47 💰 The majority of people are worried about not having enough money to retire, with some planning to move to a cheaper place, having a detailed plan, or multiple sources of income, and there is a desire to grow investments and retire early due to job dissatisfaction. 25:43 💥 Big losses, passive income, and healthcare expenses are key concerns for retirement planning, with issues such as lack of preparation, global economic factors, and unrealistic expectations about retirement income also discussed, emphasizing the importance of maintaining good health and creating a realistic retirement plan, while different asset classes have varying returns, Bitcoin remains a solid investment despite recent fluctuations. 33:10 💥 Bitcoin has the potential to reach $100K or more and can serve as a life raft for retirement goals, being cheaper than Tesla and potentially outperforming it, but its value fluctuates, so wise allocation of resources is crucial. 37:39 💥 47% of participants in a retirement poll don't have a goal, while 41% have a detailed goal, 5% are retired and planned well, and 5% are retired and didn't plan well.
Israel retirement is 67 (my father and more opted to work until 70) avg life in israel is over 80. We have mandatory retirement plan (18% of salary) plus social sicorty
About the cost of living and medical expenses will go down and people live longer, so extrapolating the cost from the present moment creates a distortion. How robotics will impact nursing? Just one example
Pretty sure I'm one of the lucky few but I'll check again.. I suppose I'd have to convert my prestin assets for lower ones to prepare for an unlikely eventuality .. Unfortunately for me I'm not prepared mentally to make such a move.
@@irishbiota6793 I did notice that actually. They sound a bit fake, but I gave him the benefit of the doubt there as he does present some great research which I appreciate.
James - as always, excellent content! I would however caution on your assumption of 15% growth per year when retired. Although with TSLA anything is possible, if you reduce this number to a more reasonable 5-7%, the number of shares required today will need to be increased significantly. I love the thought process and methodology you place into your content. Keep up the great work!
In my country if you and your work place obay the law when you reatyer you will get 70% of your salary. Evrey month 18.5% of salary is diposeted to a retarment plan/account. One can also add a 7+7 % savings (and get extra tax benefit) Personaly i deposet close to 25% of my salary for pansion
Only a few personal finance books suggest holding individual stocks. I find it so sad, because some of do have the stomach for them and are too behind to be tinkering with S&P 500.
Excellent video. Looking forward to other retirement videos that discuss relocating to counties offer less expensive cost of living expenses (with excellent health services). For example: Mexico, Colombia, Costa Rica, Portugal etc. Thank you for your outstanding efforts.
I'd like to know how to actually live on these assets whilst in retirement. E. G. Btc can't get yeild So, is it a case of layering out into fiat when needed, or best to do it at highs? Which of your tools help with this Does this make sense?
James, I have a question about off-ramps for selling bitcoin in the future. In 2021, I was new to BTC and did not take profits at the ATH, or thereabouts. It was a mistake. We retired shortly thereafter, and our profits could have better positioned us for that transition, as well as allow us to repurchase on the pullback. Now it seems the SEC is continually erecting barriers to exchanges. I plan on taking profits during the next cycle. What options are there. What do you foresee for off-ramps going forward?
Thanks for a petfect valuable Video ❤ QUESTION: if someome hold 1 or 2 BTC (hodle) how he can make some Money out of it in the future without selling them?? Thank you 🌠
Wow James, don't know how you do it. Incredible breadth of information. Working in Italy til 70 sounds lovely. I wonder what the probability is of your age extending if you keep working? People can reduce health care expenses in old age by limiting animal products at mealtime.
I still have work to do but since joining your channel and Patreon, my worries and stress of future financial freedom is minimal! I'm keeping my "tap dancing shoes" on and excited for the future! I will be forever grateful to you and your team James!! 🙏🙏
Much appreciated! Thanks for being part of the family.
Much gratitude my friend!! @@InvestAnswers
😮😮 26j😅12 😮😮😮😮😮😮😮😮😮h
Hi James, I watch you infrequently lately but this video intrigued me. My husband had a stroke in Jan and I’m his caregiver. We were both retired when your channel started but had part time jobs we liked. I invested that extra money. Now, neither of us can work. We never know what will happen. My advice to the young people, make good financial decisions when young. A bit of discipline and planning goes a long way. My best to you all.
I'm so sorry to hear about your husband's illness. My heart goes out to you both. It must have taken a lot of courage to share this news, and I'm glad you're willing to help others who are going through the same thing.
I hope your husband has a speedy recovery. Please let me know if there's anything I can do to help.
Take care of yourself, and know that you're not alone in this.
Thank you James. Lynn
Amazing 👏 thank for your wise insights
I hope you and you husband have better days coming my friend God bless you 🙏
Wishing you both the very best 😊
There is just no way to adequately thank you, James, except by putting your information into action, which I've been doing for two years now. You and your team are the best.
appreciate you being here thru thick and thin
Probably one of the - if not THE - most important videos on UA-cam right now.
i appreciate you
And yet I bet one of lowest views yet something like Sol v HBAR viewed more. Sad indictment of the times
I'm sure an incredible amount of work went into pulling all of this data together. Thanks to you and your team,
You bet! 24 hours hard labor in total
So well done team! Great show, this is why we love you.
Thank you James.
Thank you for all the hard work! Much needed information 🙂
You are so welcome!
James, love your channel. I believe the facts are very inflated due to the wealth of others. I believe people over 75 here in the US are living on 3k or less monthly.
yikes
Thanks James & crew, this is much needed info and should make people more aware.
In the Netherlands witch had the best pension fund in the world! Government change the pension laws and now we are F-ed. Have to plan harder now to have a good backup and want quit early as well.
so sorry to hear but thank you for sharing
Amazing video, we all owe you greatly for the work you've done. Even though I've already retired, I'm shifting into retirement 2.0 - which means more TSLA and BTC.
frikin awesome - always overpack
Both are down 10% in the last 5 days. How do you handle that kinda of volatility?
By starting early and keep DCAing. If/when the market turns, we will be winners.
Started 2020 after the C crash and kept stacking. Never been in the red so far. Doubt I'll ever be.
I am 57 now and planning on moving to Thailand in 5 years at 62. I have 147k in 401k, I have 5 more years in putting in the max after taxes (Roth) I have 1 BTC and 4 Eth. I owe 100k on a condo here appraised at 300k. I have 50k in other stocks. I will rent my condo here when I leave and will receive 2k a month and the model on my 401k says I will receive 5k including SS a month. If everything goes to plan, I should be getting a 6-7k a month income in a much cheaper location in Thaialnd where they say you can live a good life on 3-4 k a month. Will I survive or should I jump off a boat now? haha
the minute your goals remove any allocation to impressing others, it all becomes very achievable. Thanks for this video, I like the humility and pragmatism
My pleasure!
So much data in 50 minutes, thanks so much James and those behind the scenes!
Such an IMPORTANT video, James! Thanks to you, all on the IA team, and in the Patreon community!
Much appreciated!
"Average" is the number that skews up or down. The median is the 50th percentile and the true middle of the data. Use "mode" if you want to show a data set has a large amount of the same value.
Great video, I am an adviser with retirement plans, the vast vast majority have little saved. I think it’s a ticking time bomb no one is talking about.
Truly eye opening, golden content. I will share this to my daughter in the near future to get her prepared. Thank you for the KPM, sir.
Glad it was helpful!
I found this frustrating because I am one of those who will never get to a million (66 already). The more relevant question is can you retire on $30,000 annually ? This will be the position of most people. I don’t qualify for social security so am reliant on my savings of 400k
Scary stuff indeed. Which is why I am so grateful for what you do and that I am in IA Patreon and helping me sort my retirement.
I was stationed in S. Korea 2013-2016 and I found it interesting and cool to see a lot of retired people working. I spoke with as many as I could as to why they worked and the narrative was pretty much same for all of them. To help there kids and grandchildren get out of credit card debt. The older generation didn't have access to credit cards. But the new generation uses credit cards like crazy.
AMAZING VIDEO JAMES THANKS SO MUCH !!!!!
Glad you liked it!
"Memphis will last you 45 years.."
Well, guess I really do have a prayer in Memphis..🤔
Really necessary video James, brilliant. I have seen guys retire with a company pension (plus government pension) and expecting it to have been enough to live on and get a shock when they see the figures. They hadnt even looked at there pension during their careers until it was too late. Look forward to more of these. Cheers
Superb content... thanks again for all the work you put in to help the community!
Have a Plan now Because of you James! Thank you !!
Hope the plan isn't purely off the retire on series, because this video proves that them videos aren't anywhere near enough money to reach the retirement money needed in this video
James, thank you, this is so important, quite scary and can make you feel quite deflated. It’s real and needs to be faced by everyone. You efforts are making such a huge difference for all of us. Good Job
I love your bloopers 😊 you should make a video just of bloopers ❤
Good idea!!
Tried to comment and found out I needed to subscribe. I have been subscribed for close to three years now. No wonder things were not showing in my recommendations.
I see you Rob
Man I live in Ontario and we can’t opt out of retirement savings. I think it’s good people are automatically in this, but I should be allowed to opt out. You can’t unless you have really specific circumstances occurring and it’s a pain. So I have to let my moneys sit and deteriorate for decades 😭
Thanks James. I see this issue with my own family. We need to be prepared.
I'm saving, investing, and planning for my future as if my job will be closed the next day.
It can happen to anyone hopefully not you or I. And we get the time to prepare to be financially independent.
In France it was 62 to retire now its 65 to 67..
Wow, real talk! Great video!
Glad you liked it!
@@InvestAnswers of course! I had unsubscribed from many crypto UA-cam channels; yours survived my filter😄. You are providing very healthy content, a gift for us navigating the financial space.
Love this series on retirement.
Keep in mind asian countries the children's money goes to pay for their parent's retirement. So Korea and Japan's numbers are not surprising at all.
wow
The Myers are invested in vanguard index funds
Nice one! Perspective motivates, thanks for your efforts!! Never miss an episode!! On track😉
Thank you! Will do!
Thank you so very much for the incredible amount of research you do to help us figure it out!
So nice of you
Super info ! I passed it on the 5 other people including my kids!
Thanks for sharing!!
Thank you James
James, thank you for pulling together all of the data from the survey that you took on your channel. I’m listening to this some days after it was initially released, but super grateful to listen to it, and it helped me to take some good notes! 🙏👏✌️😊
good to hear.
Canada has free health care. It's not free! Taxed to the hilt all my working years. Oddly I used the hospital several times in my life and did have a checkup every year. Been retired for 3 years, taking the best care for myself. I am on a waiting list because I have no family doctor. I'm saving taxpayer dollars for 3 years. If I have medical concerns, I consult my pharmacist.
Was cool to see Bozeman, MT. I didn't ever expect to see that on your channel. Lol. I live very close to there.
❤Thank you for the end slide. 1 M plan. I like your positive approach to BTC.
so welcome
@@InvestAnswers Looks like Elon dumped his BTC. I think it will go lower because people will follow. I am going to wait to add. See what tomorrow brings. Saylorenergy: BTC in space, solar powered. Just need Saylor to get on board. 😂
The key idea of the video is that many Americans are not adequately prepared for retirement and need to develop a realistic plan that includes saving, investing, and considering alternative options such as Bitcoin.
00:00 💥 Half of American families have no retirement savings, global life expectancy is increasing, and healthcare costs in retirement are a major concern.
08:54 💥 Social Security and pension programs will become insolvent, leading to increased inflation and the need for individuals to spend a significant amount of money on healthcare expenses, including drugs and health insurance, making it necessary to have more than just a quarter million dollars in retirement savings.
14:28 💥 Many gig and contract workers are not saving for retirement, and pandemic savings are expected to run out by Q3 2023, emphasizing the need for a game plan to rewire retirement.
18:43 💥 Women retire earlier, have less savings, and are less likely to participate in retirement plans, while the duration of a million dollars in retirement varies by city.
21:47 💰 The majority of people are worried about not having enough money to retire, with some planning to move to a cheaper place, having a detailed plan, or multiple sources of income, and there is a desire to grow investments and retire early due to job dissatisfaction.
25:43 💥 Big losses, passive income, and healthcare expenses are key concerns for retirement planning, with issues such as lack of preparation, global economic factors, and unrealistic expectations about retirement income also discussed, emphasizing the importance of maintaining good health and creating a realistic retirement plan, while different asset classes have varying returns, Bitcoin remains a solid investment despite recent fluctuations.
33:10 💥 Bitcoin has the potential to reach $100K or more and can serve as a life raft for retirement goals, being cheaper than Tesla and potentially outperforming it, but its value fluctuates, so wise allocation of resources is crucial.
37:39 💥 47% of participants in a retirement poll don't have a goal, while 41% have a detailed goal, 5% are retired and planned well, and 5% are retired and didn't plan well.
love this
I've been retired...3 times. Let me just say it an't what you might think. Best to have some side gig(s) to fill in $ needed and time engaged.
I’m packing my bags and planning to move to Expensive Town. Thanks for the data and videos.
Thank You James for doing what you do!
Wow. What a great show.
Thank you for everything you do, James & Team! You're changing lives for the better!
Much appreciated James and team!
Thanks James. Really valuable alpha
James, thank you so much. It’s a pleasure listening to you on the way home from work.
This is sick! The information related is simply gold and if one dont pay attention, then please change your mindset
Israel retirement is 67 (my father and more opted to work until 70) avg life in israel is over 80.
We have mandatory retirement plan (18% of salary) plus social sicorty
Great show James, retire shows are very interesting!
About the cost of living and medical expenses will go down and people live longer, so extrapolating the cost from the present moment creates a distortion. How robotics will impact nursing? Just one example
James, thank you so much for all your hard work. I totally appreciate all your research and sensible information.
So nice of you
Did I hear you correctly? Mexican CET's? What are they?
no idea it was in the comments on the poll
Pretty sure I'm one of the lucky few but I'll check again.. I suppose I'd have to convert my prestin assets for lower ones to prepare for an unlikely eventuality .. Unfortunately for me I'm not prepared mentally to make such a move.
Wow - are these comments censored, or maybe the OP deleted it?
Not only that. Check out all of the gushing comments on all his videos. The pattern of words is very obviously evidence of a generated service.
@@irishbiota6793 I did notice that actually. They sound a bit fake, but I gave him the benefit of the doubt there as he does present some great research which I appreciate.
Super nice thank you sir
Thanks James love the numbers
scary numbers
James - as always, excellent content! I would however caution on your assumption of 15% growth per year when retired. Although with TSLA anything is possible, if you reduce this number to a more reasonable 5-7%, the number of shares required today will need to be increased significantly. I love the thought process and methodology you place into your content. Keep up the great work!
Thanks!
You bet! Thank you back
Great show planning on semi retiring in 4 or 5 years
James… my guy, I can’t even afford a house, partly due to the fact that crypto has stagnated. My retirement plan is to WORK MYSELF TO DEATH.
I know it's not easy, but I encourage you to keep exploring your options. There are still ways to buy a house, even in this market.
Loved this video. I am worried and adware i need to do something. Thank you James snd your team
You can do it!
Social Security says they are running out of money, but starting in 2034, recipients will receive 80% of what they are owed each month.
In my country if you and your work place obay the law when you reatyer you will get 70% of your salary.
Evrey month 18.5% of salary is diposeted to a retarment plan/account.
One can also add a 7+7 % savings (and get extra tax benefit)
Personaly i deposet close to 25% of my salary for pansion
Thank you James and IA team. This was one of the best and important KPM since I started watching you in late 2021.
thank you
great content thanks James and IA team!
Only a few personal finance books suggest holding individual stocks. I find it so sad, because some of do have the stomach for them and are too behind to be tinkering with S&P 500.
This is really helpful James - an eye opener. You do so much. Can’t thank you enough.
Been following for a while. This is by far my favourite. Learned a whole lot. Will definitely be rethinking a few things.
awesome
Cheaper to fly to Malaysia for cheaper, better medical care. One third to a quarter of the US, Aust, UK costs and excellent service.
I love these breakdowns!
Couldn't secure a low interest on mortgages for a long fixed term here in the UK unfortunately. Wish it was but not an option.
Fantastic work
🙏
Excellent video. Looking forward to other retirement videos that discuss relocating to counties offer less expensive cost of living expenses (with excellent health services). For example: Mexico, Colombia, Costa Rica, Portugal etc. Thank you for your outstanding efforts.
Thank you!!!!
You're welcome!
Health is wealth. you learn this quick when going for hernia surgery
Great info. Thanks.
An absolute pearler James.......you are a GEM 💎
Thanks James!
@37:28, I’m hoping for that scenario….I won’t have to worry about having enough for retirement.
I'd like to know how to actually live on these assets whilst in retirement. E. G. Btc can't get yeild
So, is it a case of layering out into fiat when needed, or best to do it at highs?
Which of your tools help with this
Does this make sense?
4k+... Thanks James
Wow! Thank you 🙏
You are so welcome
Your content is one of a kind thank you so much
Thank you Amigo 😁🌞❤️🎶
You are so welcome
James, I have a question about off-ramps for selling bitcoin in the future.
In 2021, I was new to BTC and did not take profits at the ATH, or thereabouts. It was a mistake.
We retired shortly thereafter, and our profits could have better positioned us for that transition, as well as allow us to repurchase on the pullback.
Now it seems the SEC is continually erecting barriers to exchanges. I plan on taking
profits during the next cycle.
What options are there. What do you foresee for off-ramps going forward?
Stunning video James as a 52 year old brilliant piece to really wake me up! Now where to start from nothing...😅
Americans are forced to pay into Social Security retirement so hard to believe that half do not work ever
A presentation for fathers of young kids (eg 10y/o) - EASIEST way to get 1000 to 10mil for their retirement at 60? 1000x over 50 years
Thanks for a petfect valuable Video ❤
QUESTION: if someome hold 1 or 2 BTC (hodle) how he can make some Money out of it in the future without selling them??
Thank you 🌠
Thank you James as always. 😻
You are so welcome
Wow James, don't know how you do it. Incredible breadth of information. Working in Italy til 70 sounds lovely. I wonder what the probability is of your age extending if you keep working? People can reduce health care expenses in old age by limiting animal products at mealtime.
Great James, thanks
Precious information! Thank you so much! 🙏🏻