Buzz's financial update. July 2024
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- Опубліковано 3 сер 2024
- People are always polite and never ask about your personal finances, but Buzz will share his percentages so you can compare to your situation. Your portfolio will be different. Remember, I am not a financial advisor in any way, shape or form!
#buzzretirementgarage
#retirement
#finance
Buzz thanks for the positive attitude you bring to us on each episode
I appreciate your comment! Buzz
Buzz living on the least possible is very smart at any age!
Retaining and growing investments while being retired is great.
Keeping your expenses low and living debt free is for me!
I enjoy seeing what you’re doing.
Im planning on doing the same in a few years.
It's one path of many!
"We're always going to be grateful for what we have, and we are not going to complain about anything". This is why people love you. It's because you're sincere and you display that sense of gratitude in all your videos. As far as your portfolio, I wouldn't feel comfortable with a 72% mix in stocks at my age, but that's me. Thanks for sharing!
Thank you for your kind words! The 72% is because the market has done so well. 3 months ago I was 60/40. At my "young" age I can handle a couple more dips but I do need to trim and slide some to safety.
Buzz, I appreciate your “Everyman” approach. Just a regular guy talking about your experience. Thanks.
Trying to survive and have some fun along the way!
Having a bad day, and then Buzz's monthly financial report pops up on my feed! It's a mood changer and I can't wait to watch it later!!!!!!!!!
Hope your day got better!
I have been a life long saver. Took SS at my full retirement age. Retirement is happily more than I envisioned it to be. Biggest adjust for me was adjusting from saving for retirement to spending my retirement funds. I manage my accounts myself.
That is a strange transition to now be a spender. Part of the retirement process though. Buzz
Buzz you do a great job. Ignore the people who are questioning your savings habits or whatever. It is very helpful to me and a lot of others how you manage on social security. Thank you so much for your videos.
Thank you. I'm just one retired Lunatic showing his way of doing things. May not be good, may not be bad, but it's me. I'm grateful and comfortable and loving my retirement!
I retired six years ago debt free and have been living very well on just social security. I have well over 7 figures in savings but I don't need to use it. This year I am taking my first RMD but only to pay tax and reinvest. The running joke when I take the kids out for dinner is to remind them that I am living on a fixed income as they pass the check my way. My retirement plan did not call for me to retire on just Social Security but I have adjusted to my error.
@@kevinm234 They pass you the check? How rude! Lol. We know SS is not the best way to retire but if it works, why not? Good to have a backup stack though.
Appreciate the shoutout Buzz! We are having fun out here just learning and hoping to help maybe a few people along their retirement journey. Thanks for sharing your allocations. We will eventually start moving into safer stocks and dividend yielding ETFs as you are positioned as we approach and enter retirement. It's a different ball game driving there, approaching it and then living in it. Historically, the market starts to dip in August & September is traditionally the worst month of the year... and then start to climb back up Oct-Dec.
Love your positive attitude.
Thanks! Retirement is great!
You do you. What works for you is yours and as you say to each their own! Thank you for presenting us with your numbers. I’m also one who loves good old pen and paper! Thank you!
Just showing what one Lunatic retiree does. Lol
Thanks for being honest & sharing your retirement info!! 😊
Thanks for watching. I appreciate you.
That's a remarkable portfolio. Doing way better than me as I don't have one at all.
I have been living off of my 401K and pension since I lost my job at the beginning of covid 4 years ago.
You are doing great, thank you for sharing. 🎉
I also have no portfolio and retired during COVID-19. But I'm living large for less in the Philippines. Starting SSI next year at FRA. I'm low risk. I think Buzz has more horse sense than most.
It's never too late to open an ETrade or Fidelity etc. account. Invest as little as you want and play around until you get more comfortable. Buzz
Thanks Buzz , I would like to say all retired personnel are rich in 1 regard and that is Time, I'm 63 and retired 6 years ago, and saved over 20 thousand dollars by doing upgrades to the house like my drainfield and breaker box using certified techs. CHEERS
I agree!
Definitely enjoy your video and break downs, let's hope and pray that the government keeps their hands off our social security. Keep up the great videos.
Thank you for watching! Buzz
For me owning single stocks were not worth the headaches. I'm a index fund & etf only guy.
I watch his videos, Its still new to him. I started back when I was 14 and didn't really get it until I was 18. I think index funds, rentals, or high performing funds are the long goal. CDs, bonds, etc are good for a short time period of 3-5 years. It all requires some management,
Nothing wrong with that!
Just a thought, I set auto transfer of SS checks to go into interest earning savings the day after their deposit. Then I only keep $20 in my checking. I make transfers for each bill as I pay it, I see my savings account balance building better that way. When savings hits my set number, then the money gets invested. I also have a 12 month CD account that allows me to add to it throughout the year, it's a great way to earn extra money as well. When it renews I move that cash to other investments and start the account over with $100. It actually can be started with I believe $20.
Great tip!
Another good on Buzz! Stay on your plan you seem confident and positive, that is half the battle to being content with life. Hope the garden is coming along good. Look forward to the next one. Marc C out.
Positive? Yes! Confident? Well.....Yes, garden going pretty good! Buzz
Already locked in 2 cds at 5% for a year because not knowing if will lower in nov. Extra 500.a month helps out
Smart move!
DIVIDENDS! I increased my income 32% by reorging 2/3rds of my portfolio for monthly dividends. It makes a huge difference in this inflationary period. One third of my portfolio is still growth funds/stocks. I can reinvest some dividends when inflation subsides.
I really appreciate your videos on your investments. ❤️
Remember, I'm not a financial advisor. Buzz
Love the show Buzz! Thank you.
Thank you for coming by!
Buzz, it's great to hear other people's advice and what they have to say, that's why I listen to you, but we all know ultimately we have to do what's right for us. You do you!
Absolutely! Different ways to do everything. One model does not fit all! Buzz
Nice breakdown and personal insight of where your money works best for you. Thanks Buzz
Thanks for looking. Buzz
Buzz great job on presenting your financial positioning! Very transparent! Not an individual equities guy myself! If you wanna know why just say Enron! Am a believer in mutual funds. Have a position in a large cap fund as well as one in the S&P 500. Also have a Target 2020 and a target 2025. Overall positioning is probably 40/60 or 50/50 stocks to bonds. Take all my divs and cap gains to cash. Reinvest them in brokered CD's to guarantee principal! Current overall yield there is about 5.25%. I do 1 year terms! Thanks for your insight there's mine slightly encapsulated! Would love to start my own channel but don't have the drive you do! Keep up the transparency as it is really refreshing!
You're plan seems good to me and doing UA-cam is very easy! As long as you don't need to edit and make it fancy it's pretty quick! Give it a try! Buzz
My situation is a little similar to yours... The wife and I both retired in February, she's 62, I'm 65, we both started drawing S.S... We have a little less than half a mil, but everything's paid off - house, cars, boat, etc. We'd been putting our IRA money in CD's for years, getting only about 1 to 2 % interest. So we were geeked to get 4.5% to 5.25% on CD's the last year or so. If we could count on CD's doing around 5% for the next 15-20 years, we'd be all set. Of course rates WON'T and CAN'T stay at that level. In fact just Powell's talking about Fed rate cuts have caused the CD rates around here (Grand Rapids, Mi.) to start crashing. The 5.15% I got on a 1 year CD in January is now down to 4%. And the LONGEST term CD, 60 months, is only 3.5%. The longest term CD's used to pay the most - Not anymore, because the banks and Credit Unions don't want to stick their necks out that long, not knowing the future economic conditions.
I NEVER considered annuities, because Dave Ramsey and others always talked them down. But after talking with some family and trusted friends who have annuities, I looked into them. There are several guys on UA-cam who have every video you'd ever need, about annuities. I'm not going to drop names, but just search youtube on Annuities, and you'll find plenty. Long story short, we now have a couple annuities that will pay us a nice monthly income for LIFE, and I don't have to worry about CD rates going back to 1%. The bigger thing is, after I pass, they keep paying my wife for life too, without her having to become a financial Guru.
I started to read up on annuities as I believe Principal, where I hold the mutual funds, offers something like. I never did a deep dive though. I'll look at it and see if it makes sense. Thanks for sharing! Buzz
Start a treasury direct account. I buy 6 months Tbills they have been 5% for over two years now and still are.
You do you! Love your videos, Skee-do!
Thank you for peeking in! Buzz
I am WAY off from having even 1/2 million dollars and live on SS only. I could not find out by searching if OH residents have to pay state taxes on interest on investments, but be as it may...I have my investments in treasuries (with no mortgage or debt with extremely low fixed monthly expenses) and my investments are in fixed-income treasuries T-bills, notes, and TIPS (only pay Federal taxes in PA), I no longer trust the stock market casino as I have lost too much principle over the decades.
Everyone has a different way to invest and I don't have a problem with taking a safe path. May miss some gains but you won't lose. Buzz
There is nothing wrong with going back to work after retiring from our REAL jobs. I actually am looking forward to a part time gig after 2 years of lounging around. This Fall I will be looking for something. Hopefully something FUN :)
You're right! Nothing wrong with working if it makes sense to do so. I'm loving retirement and don't want the stress of working again. But, to each his/her own! Thanks for sharing. Buzz
Hey Buzz great video
Thank you sir!
I am glad that you did go to Cleveland's Municipal Stadium !
Do you remember what years and you were a kid ? I love watching old Stadiums and highlights on You Tube.
All of the new corporate stadiums really suck and are expensive and lifeless.
The Oakland Coliseum was one of the greatest places ever for a Raider game. Unreal atmosphere , sight lines, roaring sound and Tailgates !
Las Vegas just has no soul and is very empty and unsatisfying for Raider fans. All NFL fans really miss the Coliseum.
Seems like everything good is gone or going away. Ramblings of a retired lunatic ! ! !
My best memory of the stadium was on November 23rd, 1986 when my brother, who was in the Air Force, was home on leave and we watched the Browns beat the Steelers in overtime. Second best memory was when I was about 10 and my mom took us to an Indians game. It was the first time, and last time, that a parental unit took us to a game.
@@BuzzRetirementGarage That was great game Browns- steelers tied at 28-28 in overtime ua-cam.com/users/clipUgkx3a_sIqTqx2HnHEMxsNFtBzmlv-S_RsJN?si=lLJqgXDgspEowLLc
Buzz you are doing a great job with this.
You are so kind! Thank you! Buzz
You have the right attitude regarding being happy with what you got! I'm jealous. I can't own individual stocks because of my son's job. Maybe it's a good thing!
I've gotten lucky over the years but also chose some skunks. I had Nivida when they split and the stock was $400/share. Got rid of the position and look at it now. Stupid move. Oh, well. Live and learn!
I always like your humble presentations. I don’t know enough about the stock trading stuff. Sure wish I did.
Thank you for watching!
Your experiment is great to follow.
About spread sheets and 20-30 year retirement plans:
There is no way that a 20-30 retirement plan is going to work. You can plan about 5-6 years out with any confidence. Even then you will at least tweak your 5 year plan every year.
It’s ok to have a Monte Carlo simulation. Maybe that gives a retiree some confidence.
Who had 2008-09 in their plan?
Who had 8% inflation?
Who had COVID?
The goal is to try and live on SS alone for daily operating expenses and not touch the bank accounts unless we have house repairs or other expenses. Been successful for 7 months. But, like you said, who can plan for some of the crazy events? Day by day.....Buzz
Thanks for sharing! Like others have said, being comfortable in your own skin is what counts.
A song comes to mind. Whatever gets me through the night.
I definitely think its personal choice. "SWAN" Sleep well at night. I use a bucket approach to my accounts and I'm happy. You do what makes you comfortable. I gave up trying for the home run a long time ago. I just want to be in the game.
I hear you and you're not wrong!
Yay. Love this video
Thanks for watching!
Buzz your the best take care I ve played safe all my life 5 percent in cds capital one
Not a bad thing!
Capitol One has some of the best CD rates in my area.
I've been spending money since H.S. But the best thing I've ever done is go to a financial planner right before I retired. I'm also living on SS only and my plan is to make as much as I can before I have to take RMD at 73. I'm 68 now. This is working for my wife and I. Good luck with your plans, I hope it works out for you and your wife.
Glad you got good advice! Never hurts to run your financials through a professional! Buzz
Yes, we were lucky finding a good honest local company.
Love your content
Thank you. Glad you're here!
My monthly goal is to only live off social security also, I like your videos.
Thanks!
You do you and don't let anyone tell you what to do.
Glad I found you , interesting channel! Great Goal . I also live in NEOhio, planning on retiring in the near future
Thank you! We have a good group of subscribers. I've learned so much from them! Buzz
🤚🏼 One of the people worse off. But I don’t complain and I’m always grateful. I watched through the end even though I have zero investments because I find it interesting. Thanks always for being transparent.
Thank you! When you get monetized open a ETrade or Fidelity etc. account and grab a few stocks.
@@BuzzRetirementGarage I may do that. AFTER I have fully funded my emergency fund.
Buzz - thanks for the motivation 🤘
Thanks for being here!
First time watching one of your video's. Very interesting! I know people living on SS alone, as some people don't need a lot. Some of them have plenty if needed, but their needs are low. Good idea on locking in the cd's, but I wouldn't wait too long, as the rates have already started going down. Cd's that were at 5.4% last week are now at 5.15%, and longer term, those over 6 months, mostly are not call protected. The rates started falling after Powell's comments on the possibility of lowering rates. Otherwise, good job!
Thanks for coming by and watching the channel. We have a great group of commenters here. I hope you stick with us! Buzz
You’ll always have critics, enjoy, stay the course, you’re doing a great job, and as long as you can go not touching your money the better off you are . My goal is to not touch my investments until 75 or later. ❤️🌵
Great goal! Hope you succeed! Buzz
I’m mainly a real estate guy. I own quite a few rental properties that produce me a 5 figure net income every month. I also get social security that includes a child payment as well just had a baby so I just put all that away for my new daughter in an S&P Spider ETF that I cost average into every month and it’ll just grow until she’s an adult. I suspect the stock market is primed for a pullback soon as it’s been pretty overheated. Maybe think about putting some of it into a good dividend fund so you can increase your income each month. Municipal bonds are also a good safe hedge for a portion of it. I do have some of those as well. The tax free yield is equivalent to about a 7% taxable yield and they are guaranteed if you hold to maturity. Returns in the market have been good but you got to know when to take some profit. One big fall could wipe it all out and at our age we don’t have time to make it back.
Congratulations on the new family member! Thanks for sharing your thoughts on the financial situation. Never looked into municipal bonds but I will now! Buzz
I like your SPYI and JEPQ. I have my own $102K (value today) account to play with dividend stocks. I let my financial advisor manage the other 90% 😆
Millionaire in the house! Proud of you my friend! Buzz
@Buzz's Retirement Garage - Nice park behind you for a fact & figure episode 😊👍🌴
My backyard to my left and the neighbors to my right.
@@BuzzRetirementGarage 👍🙂
We’ve spent so many years while employed dollar cost averaging into our 401 Ks that moving stuff around is emotionally hard for us to do!
It's always scary making financial decisions that could work out great or......
I am no financial wizard but your plan is working. I do believe in CD’s in this present economy. I stack my CD’s into four renewal dates thru out the year. This gives me extra income for any emergencies that may come up. If no emergency then the CD is rolled over to a new date. Like you said lower interest rates will change CD rate. Have you ever considered buying gold? Great video Buzz.
I have started buying some silver. Not ready to plunge into gold as an investment. If I did, it would be a small amount. Maybe 5 ounces total.
Physical Silver has done good this year. I started buying silver in 2020 at $18 so I’m doing pretty good on average at 1600 ounces 😊😮😊
@@stevesilver7437 Nice!
I don’t have any answers. I would never advise anyone else on what to do. The best advice is to save, invest, and be mindful of spending. II don’t know what is going to happen in the future, but I do think we may be in for some rough times unless people start demanding transparency and accountability.
Save, invest and be mindful of spending are perfect words for any day!
Most of the brokers plan for 5 or 6% if you’re doing better than that, your doing great
I started taking profits and moving to more secure areas.
I think that’s a reasonable investment portfolio for the range of assets you have. Like you, I like to keep enough in cash so if the markets go down I won’t have to tap into those for some time.
It's working for me right now but I'm definitely keeping my ears open to the financial markets. Buzz
Buy Low sell High 🙂
Hopefully. Lol
Just to clarify, the markets are not just doing well, they are at historic highs.
True!
You should look into buying T-Bills instead of CDs.
T-Bills are not subject to state and local taxes like CDs are. (Plus they pay more in interest)
When you buy a CD, the bank just takes the money and buys a T-Bill. Just cut the middle-man out of the deal. :-)
Good idea. Or, buy more silver!
@@BuzzRetirementGaragebingo
Yes for Tbills 😊
You might want to look into treasuries to lock in interest rates slightly longer term and avoid state income tax on the proceeds. There are a lot of good tutorials on youtube.
Excellent comment. I have been looking at that too. Interest rates are a bit higher than banks . Thanks! Buzz
I agree Tbills 😊
I love SCHD. Cagr is great too!
I'll have to look at Cagr. Thanks!
@@BuzzRetirementGarage think he means compound annual growth rate? Because CAGR is not a valid symbol. But XLG is, and it's been a good one ytd ~25% return!
I live on SS alone. Problem is my family lives on my savings and investments. They make all their " emergencies " my problem.
Just say no. Hard but necessary.
Hi Buzz, have you ever looked back at the history of your S&P 500 to see the annual percentages. I think that would make a great video. 20% this year was great. I'm interested as far back as you can go. Much appreciated and enjoy your videos and your attitude 😊
Would be a good video but there's smarter people than me that would do a better job of it. The graphs and charts are out there. I would defer to true financial advisors for that! Buzz
@@BuzzRetirementGarage I think you misunderstood me. What I'm trying to say is, I guess, when did you start investing in stocks and what has your experience been like over the years? To sort of give an idea of what the percentages have been over the years in your personal experience. To maybe give us an idea of the difference between CD's and stocks, even though they are more risky. Thank you
@@hannahreese1629 I would have a short track record as I didn't start dumping money into the market until it dropped in 2020. So, I'm not the best test case when it comes to stocks versus other investments.
You have a good plan but I'd also add some physical precious metals. Gold and silver are great inflation hedges.
I started buying some silver.
@@BuzzRetirementGarage I just started buying about a month ago. I've got a plan to add some every month.
I recently retired too so I relate to your videos.
@@bassfuser1226 I follow World Money Wins on UA-cam. He talks about his silver buys.
What does "supposed to" really mean? Everyone thinks their opinion is gospel. Opinions are like but holes, there are a lot of them out there, but they aren't paying your bills so no shts given what they think. All that matters is it works for you. I like me some mid-caps. Investing is not far from gambling but with much better odds. Roll on big BUZZ!
Thank you for watching my friend! Buzz
Buzz, those high yield names look good. You may look into how to sell covered call options. If the market falls you can at least collect income on the stock you own over and above the dividend. The stocks need to be optionable. It’s a nice tool to have in the toolbox. Just a thought.
I know but I have zero knowledge and afraid to jump into that. I would need a good tutor.!
@@BuzzRetirementGaragePlenty of UA-cam content on it. The only risk is you can miss out on some stock appreciation. Otherwise, completely safe. I’m not retired yet but I do it and it’s been very effective. I’d look into it. Keep the videos coming!
Thank you, Buzz.You may want to change to a low-cost Total Stock Market Index instead of the Mid Cap and 500 Index.
Any specific suggestions?
@@BuzzRetirementGarage I have three suggestions: Vanguard Total Stock Market Index, whose expense ratio is tiny. You want to focus on total return, not the dividend yield of your assets. Simply your investments with fewer holdings using low-cost index funds and do not change your investments based on potential future events. Warren Buffett has said he has no idea what the stock market will do in the next one to two years.
My wife and I are living comfortably with only our Social Security (I retired at 62 and my wife at 70 so our amounts are within a couple of dollars per month of each other)and my union pension. I too have what I would call a significant amount in annuities but in 12 years We haven’t had to touch any of it. So far…
Excellent! You're doing well! I'm here if you need to move some. Lol Buzz
The CME Fed Watch has the probability of a July 31st rate cut at 93.3% but I don't think we are getting a rate cut until September. I've been rolling 6 month T-Bills since last year and am also watching for when to move to longer term bills or notes, but like the stock market one shouldn't try too hard to time the market 😉
Trying to time is nothing but a calculated guess.
I used to own Energy Transfer. My tax preparer really hated waiting on those K-1 forms 😂 MLP's do have interesting tax consequences so as long as you are good with that 👍🏻
I just don't report them. Come and get me coppers!
I have a high interest rate online savings account. 60grand at 4.25% gives me over $200 a month without touching the savings. This way here I have cash I can get at or just take the interest every month. FYI!
Gives you piece of mind and control as the money earns. Maybe invest if that money is not needed in the short term?
I like that. Safe and sound.
Try 4 week Tbills they pay over 5% and ladder into them 😮😊
I’ve been doing 3 month t bills through my brokerage. No state or local tax on that. But yeah I’m not sure how much longer those rates will last.
I have to check them quick!
Love the videos! I think "timing" the market is a losing proposition. Money in stocks should have a 3-5 year time horizon. The 4-5% cash savings accounts makes sense and maybe a short term bond fund. If you want to put a chunk into the stock market I would invest in those index mutual funds or ETFs which have lower fees. But trying to shift money in and out of the stock market based on Chairman Powell's whims might be a challenge? At your age (and mine) I would keep it "simple and safe". Cheers! Thanks for sharing all your info in such a positive and fun way!
We're living in some strange times and I'm getting a big spooked. Can't time the market but I'll reduce exposure over the month of August. I don't think the shanigagans of the last few weeks are over yet. Buzz
Can I hire you as my investment broker? 😅 You've probably discovered a hidden talent. Thanks for sharing.
Hiring me will guarantee you go broke. Lol
I don’t think politics will have a significant impact on the market . As far as what I think it will do … I have no idea , but I gotta believe a correction will happen before too long.
Could be minor which I hope but you never know!
I make around 10% a year on my 401k money. My cash is in laddered short term 5% CDs. I live on less than $20k a year and my SS check covers that and then some.
I pay a guy that handles my investments, taxes and most anything money related like Roth conversions. He loves that stuff I hate doing it. I just tell him the amount of money I need and he transfers it to my account.
This is the way I think things will go in 2024. It looks like inflation will go down slowly.We just went below the average inflation over the years. If it keeps going down that will trigger the Fed's to drop interest rates. This will trigger the movement of money into stocks. This will cause the stock market to go up at a higher rate. The CD's will drop 1/2% this year.
I say you should stay in stocks and you are a gambler and can handle risk. You are growing a smaller amount of money so taking higher risk will give you higher returns. I do moderate to high risk. If you take my advice you're a crazy man ! :)
I like how you live off the SS income in the 20k range, that is probably why you are dept fee in retirement, because you have lived within or below your means during the working years. I am still working and choose to live off the 20k range, I have nice stuff and live well because I shop well. Make sure your money guy is a " legal fiduciary" and know exactly his cost.
You may be right! Three months ago I was 60/40 but the market gains have got me to 70/30 and I'm not comfortable with that. I'll trim the top into T bills or CDs before rates drop. I like your thinking!
@@BuzzRetirementGarage My adviser runs me 70/30 knowing I have a good cash supply to ride a down turn and the money is in laddered CD's. If we have a down turn he changes it to 60/40. My health savings is 60/40. The key is to invest so you can sleep at night!
@@ericlee2931 I test drove retirement at 20k for a year before I retired. I have 3d printers , leather sewing machines , welders, lathes, telescopes and I have it all. The key is buying them for pennies on the dollar. People throw away more than I will ever use.
@@stevegorkowski3246 Makes sense!
Hi Buzz, I see that Ohio has state income tax. CD's require we pay state/local income tax as well as federal tax. Treasury bill/notes/bonds don't require we pay state/local tax. CD's are easier to understand vs t-bills. There are UA-cam videos about how T-bills work. Have you been curious about T-bills. I am still learning about T-bills especially since I live in high tax state.
I have not purchased any yet but your points are valid. Yesterday I took some profits out and I will seriously look at moving that money into T bills. Thanks! Buzz
@@BuzzRetirementGarage Also, T-bills are extremely safe investments, you get 100% of your money back provided the US government still exists. I am still deciding if I want to open brokerage account or buy straight from treasurydirect.gov website. T-bills are offering the same interest as CD's around 5%.
Great video and info, wish i understood e-trading and how to do? Mutual funds? I only invest in high yield CD's and savings thru Banks that offer them. Most i get payed is 5.5% in my investments. Thought about buying gold but not sure if good investment and how long?
As I said, I'm not any sort of financial advisor but opening an account with ETrade or Fidelity etc. and buying some ETF'S could make good sense.
Just wondering…what’s wrong with living on SS only if you can🤷🏼♂️
Nothing. The rest of the blather is just noise.
No problem if that's all you have, just mold your personal economy around what SS brings you. But.... If you are say, age 40, you should be building a nest egg that ADDS to the SS payments.
@@ericlee2931 true true…but here’s the deal…quit making others rich by borrowing from them for things you don’t need. No matter your income..that is what makes you self sustainable..living within your means and it doesn’t hurt that much to live a little less…even burger servers can be successful…live like no other today so you can live like no other tomorrow… Dave Ramsey
Nothing wrong with it but see Eric's comment. He's right on the button. Buzz
To me it means you really party a lot when you were younger 😮
I think that your split is OK ....I agree with you on a dip sept -Oct ..elections !! I would have a split 25 % 30% 4-5% 35% MF .....5% ( emergency account) I do not know your amount , my emergency account is good for 6 month of 100% living expenses the emergency account if every thing go lower I don't have to worry for 6 month or move anything.
I do want to lower my 70% exposure down to 55%-60% in the next month. Maybe overcautious but that's ok. Can always get back in when there's a dip. Thanks for sharing!
I recently bought some 3 year CDs at 5%. If rates go down, I have the 5% for a couple of years.
Lock up that money for 3 years? not bad at 5%... likely do better with CD laddering and mutual funds bringing 7 to 12%...
Good work!
If you don’t need the money, which you don’t because you have some cash, don’t trade in/out. Your investments are investments, not trades. Otherwise, no red flags on your strategy & I’ll restrain advising you of my personal preferences on your allocation percentages. You do you. I’m glad to see your choices. I was worried about you until now. 😅
I'm still worried about me! Need the allocation back to 60/40 or 55/45. I'd feel better with that ratio in case the s hits the fan.
Think of this:
Cash needs for 3 years.
30% JEPI for income (instead of bonds)
70% S&P ($ not needed for at least 3 yrs)
Set & Forget.
@@thad.champagne I can see that.
It looks like you are spread out well in your investments. Find some energy stock now.
Living on Social Security and a very small pension alone by choice. I don’t have to but, I may do a part time gig some time by choice? Saving, savings for a rainy day or for the kids to blow.
Like you not rich by any means.
CD’s now earning about 4.5%. We have about 20% in there.
Cash on hand enough for most emergencies.
Mutual funds Ytd earnings about 16.01%
Good plan! Covering your bases.... Do the part time gig for fun and cushion
Thank you for sharing!
You should put 5 to 10% of your investments into scratch offs to generate income to pay the cable bill many people are up in arms over. Just kidding. You are sitting somewhere with beautiful scenery behind you. You got a smile on your face. Life is good. Keep it rolling. And I have no idea what the stock market will do tomorrow, next week, before the election or after it. But I’ll bet 10 years from now it will be significantly higher than it is today. My plan is to go along for the ride.
I'm thinking casino instead of scratch offs. My tipsters are telling me MGM Northfield isn't hitting that well. Might have to keep it in the market.
I like it. Or you could download one of the sports betting apps and lose money without ever leaving your garage. Not that I would know anything about that. 😜
just a thought. In retirement and solely depending on the markets for growth can be scary much less trying to time the markets. just saying enjoy your vids.
You're not wrong but I'm relatively young (64) and can probably handle a few dips. Getting to a 50/50 goal at some point would make more more comfortable.
Yesirr. Thanks for your reply
Buzz wouldn’t it make more sense to draw on your Ira’s or 401k funds in smaller amounts over a longer period of time? It seems to me that when you turn 72 your required minimum withdrawals could end up being higher and jacking up your tax bill and your Medicare premium payments. You could withdraw just enough to keep you in the lower tax bracket and at the same time withhold taxes on the withdrawal to satisfy your income tax obligations. My wife and I withdraw once a year in December and this has helped us to reduce our deferred income balance so later in our retirement we won’t get forced into larger withdrawals.😅
Thank you for commenting. I probably don't have enough in my accounts to worry about it.
But, I will be seeing a CPA soon due to my self employed status. Never been self employed before. Hopefully that's something he can advise on. Buzz
@@BuzzRetirementGarage you probably should see your cpa sooner rather than later ,income you earn while drawing social security could diminish your social security benefits depending on how much income from your self employment you earn. Nothing worse than finding out after the fact
As "Bones" would say in Star Trek... I'm a Doctor Jim, not a Financial Advisor! I think they are finally going to lower the Fed rate by a quarter %. Just as my CD's a maturing.
I guess I'll be looking at T-bills according to advice by some commenters. Buzz
I don’t have the knowledge to criticize or applaud anyone’s portfolio. I have mutual funds in fidelity that was in my choices from my employer back in the early 90s and another fund family for my Ira from the same time frame, research came from financial magazines. I also have three individual stocks. Was in an investment club for a while. One of the stocks was a pick I made from that research that I did, it birthed a second stock, which kind of passed me buy because I don’t have access to that. Wish I would have known how to reinvest dividends on then site. Oh well. I was busy and not into research for a long time there. Then I have a lot in government bond funds. Some from moving from savings to a fidelity brokerage. I don’t know the percentages or anything.
I guess if interest rates go down, I will be able to increase my Roth conversion amounts.
Sounds like you have long held assets which is great! Good luck my friend! Buzz
Hey Buzz a guy I've come to trust is Gregory Mannarino he's on UA-cam you have to put a filter on your ears cuz he's filled with a lot of vitriol and extra emotions. However, I believe he is 70% correct
Almost always a dip in October….
Seems like it. Can't time the market but I'll be making some moves and get out of the market and into something stable.
Listen to Jeremiah Babe and tell me what you think please.
I see what he's about and I'm in no position to say he's right or wrong but Lil ole Buzz isn't going to stress over what's not in my control. Thanks for sharing though.
Owning tfsl is fine, just own too much, diversify
If I add to ET, NVT and JEPQ it will lower my exposure on TFSL. That's my plan anyway. Thanks for the comment! Buzz
Interesting. I am not personally a fan of the stock market. I pretty much lost everything there, except Apple ($100k gain roughly) when iPhone hit.
You have a house, which belongs in your asset pile. Google the address for ballpark value. You are richer than you think 😂.
I sold my house, paid off my debt, and my SS roughly pays my bills. I recently sold my 2007 Murano and bought a 2022 from house proceeds. I have gifted money to my (clergy) daughter. My rent is paid a year in advance. I have a stockpile of “gringo food” to minimize border crossing, and grocery shopping in general.
I just denied Medicare part B… I don’t do Doctors.
My approach is very different from yours, but generally trying to live on Social Security.
The money you lost in the stock market should have been invested in target funds, if you had done that you would have been way ahead of the game. You sold your house in order to pay a rent bill till the day you die? You gave away your proceeds from the home sale and purchased a new car? Sounds like you have things in order for one year. After that one year you will be left with a low SS check that by your own word's barley pays your rent, you don't do doctors? You must know that you will never need health care? You say you are trying to live off SS? Sounds more like you are trying to survive off SS.
You make a lot of assumptions. My rent and utilities in Mexico costs similar to tax, insurance and utilities in Florida. I have no home repair and maintenance costs now. My newer car was purchased used, has about 18k miles on it.
Mexico medical is inexpensive, compare drive to California for medicare. I don’t use doctors, but they do exist here.
My SS pays enough to cover my expenses and I still have money in IRAs and from the house.
There are a lot and I mean a lot of people living on SS. Some make it work and others don't.
I haven't looked at any stats but you're probably right! Buzz
I think the rates are going to go lower but because the economy is not good as people think with that in my opinion I think the market is close to a top and think we go lower
market goes up and the market goes down, buy and never sell in in the down market
Buy low, sell high. Time to sell.
Agreed. Slow, very slow, downward trend.
My wife has 1K 20 year bond I bought as experiment cost was $22.56 over face on auction and only pays 4.625% I'm going to look at 5 to 10 year instead but want at least 5% those days hopefully come. Anybody found a decent % non callable long term CD.
I haven't looked at any real long term stuff.
I mean, the truth is we are all speculating on market stuff. LITERALLY we can't know, haha. That said, I think its high probibility the Fed will start to lower interest rate by end of year. he wont be doing it dramatically by any means. The market gets excited by this idea so I think if anything the market in general will go up . Have you heard of bogelhead investing? I'd recommend you look into that approach for investing IN retirement strategy. :) My investing approach is about simple and broad based, low cost index funds. It makes me sleep well at night and I don't have to be timing purchases or selling. Also, in general, don't forget your financial picture also has a paid off house. That was a big financial move you made and one that greatly allows you to be able to do what you are able to do now with Social Security on top. :)
I like where I'm at with investing, until I don't. Lol. The mutual funds, ETS, cash and a few stocks work for now. Thanks for sharing!
What do you think about dipping into savings to pay off a credit card of about 1600$. I tend to make large payments on the credit card.
Most credit card interest is at 16-28% unless you have a zero percent deal going with them. Since no bank pays that type of interest it would make total sense to take from savings to pay the credit card. My two cents. Buzz
I think you are right…better to pay the card off and then have more spendable income each month to pay back savings.
You should out of dividend stocks and do Tbill funds.
That's an option. I have been looking. TFSL is over 8% yield. Kind of like that.
I'm a pen and paper gal 😊
Definitely works for me! Buzz