I am 27 and i just started my ROTH IRA and deposited the max for 2024! I feel stupid for how long it took to get my life straight. The problem here is, what is the best way to invest the money to grow for retirement?
I believe every Investor should start with ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth.
You don't need to find the next NVDA to succeed in investing. Just choose top-notch ETFs and partner with a CFP like I did. I turned $90k into $50k in annual dividends-a significant milestone for me today.
Impressive! I admit I'm scared about retirement as I'm approach that chapter. I need to ensure I have enough savings to survive on. How can I consult with your adviser? My retirement account isn't performing well.
I've been working with "Kathleen Cheryl Constantz” for about 2 years now, and her performance has been consistently impressive. She’s known in her field, look her up.
Kathleen sure knows her onions in this industry, from her intimidating profile which I went through, on her web home page. I started off last year tailoring a colleague's retirement planning but it didn't pan out well. Hopeful that Kathleen will attend to my message.
Take away for the American worker: 1. Your company has no loyalty to you, so you should have no loyalty to the company. 2. If you are let go and you do have some sort of pension or 401k, get your money out into a self directed IRA asap. 3. Don't let the company talk to you about their great pensions or other benefits. Only consider the straight salary you will get to determine if you take the job. 4. Always keep your eyes and ears open for a better opportunity. If you see one, go. Do not worry about the vacuum your leaving might cause. It is not your problem. 5. Only rely on what YOU have put away in accounts you have control over. Always assume that the company will dump you at any time if it is in their best interest and the interest of the CEOs keeping their over inflated salaries and golden parachutes. 6. If you don't understand how money works, learn. The internet has a wealth of information if you only look. Or go to your local library.
I think the whole point was that average people shouldn't be expected to learn to be financial experts. The shift in responsibility is what got us here. If a CEO wouldn't want there employees touching his retirement, why the hell should they touch there's?
My dad was born in 1940, late silent generation. He worked for a blue chip in a mid-exec position and was able to retire at 55. my mom inherited a decent amount of wealth from her dad in NJ. A bit of backstory, b/c I have practically zero, for all intents and purposes, for retirement. So, I will have to use/depend on what I get in inheritance to "make it". What I do have though, is decent knowledge with living in other countries. Countries that have a much lower cost of living than the USA. SE Asia, and Latin America. I'm 90% confident that ill be able to make it, via living in another country to my liking. ____________________ If you are worried about making it in the USA. First, if you really want to stay within the USA, then look into the "Retirement haven US States" (a few examples: West Virginia, Arkansas, Mississippi, Louisiana). Sure, it will be different from where you were before, but it will still be [in] America, AND the cost of living is the best value for the money. You would be surprised at what these states have to offer, especially if you are an outdoorsman. The "NW Corridor" of Arkansas has grown and changed that many really like what it has become. Wal-Mart, Tyson, and the Univ. of Arkansas helped change Fayetteville, and its surrounding cities like Rogers, Springdale, and Bentonville) into what it is today.
@@Gizziiusa your on point about living in SE Asia to live well with an underfunded retirement…Thailand or The Philippines comes to mind where a normal Social Security check goes a long way. Just don’t piss it all away on nightlife!
@@Gizziiusa "What I do have though, is decent knowledge with living in other countries. Countries that have a much lower cost of living than the USA." BINGO! Smart person. You're going to be fine.
As I watch this documentary, I think of that saying "Socialism for the rich, rugged capitalism for the poor". Wealthy corporations get bailed out when they have financial trouble. Poor working folks are on their own. Thank you, Frontline, for this great documentary.
Young people's future has been sold by the Boomers. My retirement is sitting in a Panamanian bank account that belongs to some fucking billionaire leech. If we want to retire we are going to have to violently force that wealth to trickle back down. Refuse to participate in the system as much as possible, make your politicians uncomfortable.
Capitalism has brought more people out of poverty and given more people a chance at the American dream; moreso than any other type of system. It's not perfect but it's def better than anything else they're offering
No, that's just capitalism. It's not supposed to be fair. There's nothing wrong with the way capitalism works in the USA, this is it. If you allow a small minority of people to accumulate all the wealth, they're going to use it to consolidate power and maintain their dominance forever. Fun fact, it turns out when capitalist democracies enter crisis because of the social dysfunction, they mostly don't turn to socialism. They turn to fascism because at least in a fascist state, the same people stay in power, they just resort to using state violence more overtly.
I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
40 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $4 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.
I fully agree; I'm 56 years old and recently retired with approximately 1.2 million in outside retirement funds, no debt, and very few dollars in retirement funds in comparison to my portfolio balance over the last three years. To be honest, the financial advisor's role can only be ignored, not dismissed. Therefore do your research to get a reputable one and that should be any individuals main route into the market.
Yes, I'm in my mid-50s, and a few years back, I moved my investments to my wife's wealth manager. While I haven't caught up to her long-term gains, my current earnings and the growth of my retirement fund, compared to just relying on the 401(k), are pretty satisfying.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I am 57 am driving a 2006 Honda Accords with 180k miles. I have the seven figures saved. I have three pensions starting at 60. I am spending money on experiences not things.
@@CarlosRodriguez-ox3bg Hey man,That’s great, I feel you need to plan for retirement early and have a fin advisor help manage your funds and live on passive income without working or stress for good health.
My husband and I retired without debt in 2019, we retired to Belize and live very comfortably on our SS benefits. America is just too crazy economically. We’re very happy here and live a simple life on the water.
@@mjo8856 3rd world countries arent what you think like its a warzone or a thug-infested place , there is a safe place to live and the people are nicer.
A growing number of individuals may struggle in retirement due to a combination of factors. Low-wage employment, rising inflation, and soaring rents hinder their ability to save, while middle-class Americans are increasingly finding it challenging to achieve homeownership, leaving them without a secure place to retire.
Rebuilding your retirement independently, without expert advice, is a challenging endeavor that's close to impossible. Even reputable online tools like NewRetirement have limitations. For personalized guidance and tailored support, consider partnering with a seasoned financial advisor who has a proven track record, extensive experience, and a strong client base. Building a rapport with them can make all the difference in achieving your retirement goals.
In my opinion, making a smart investment is not only a technique for earning passive income, but also a profitable way of saving for future expenses. People who fail to make the proper judgments early in life often come to regret it later in life. Nonetheless, investing alone can be difficult and risky. As a result, I recommend obtaining expert assistance (financial advisors). The challenge is not just watching videos and reading investing books; it is about implementing information effectively.
As an OAP with extensive expertise, I am certain that the success of any investment is dependent on getting the appropriate knowledge, regardless of what others think. I made $100,000 while working with licensed financial adviser.
True. Having the right financial planner is invaluable. My portfolio is well-matched for every season of the market and recently hit 90% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, though this could take till Q3 2024.
Your words have inspired me to take the leap into investing. With a substantial sum ready, my primary concern is making smart decisions to avoid losses. Please share your expertise on how to invest intelligently, emphasizing the importance of working with a licensed financial advisor.
My kids live out of town and my enjoyment is to go see them and my grandkids. After listening to this podcast and others I look for a glimpse of what I can do now. I am exhausted and do not want to continue working. I am that employee that locks the door at the end of the day. Regrets now - that I did not take care of me - I just kept working. I hope people will read this and realize - time to take care of you!!! It’s our responsibility to do so.
Thanks for sharing. I sit here, 45 years old worked hard for so many years, kids grown - well educated, house paid for, no debt - bought a new vehicle and will pay off. But.....no savings for retirement. So mad at myself that I worked all these years and did not take care of my retirement. Just worked and the years flew.
you yourself have to define the life you truly want and do everything you can to gain that. Stop living for others, and what they might think of you and do what's best for you at the end of the day.
@@carlterry9686 Thanks for the outlook. You should do well and research for a reliable broker to invest with, from there you can grow your portfolio and see your dream come through
The only loyalty you should have for a company is the paycheck they provide. As long as you get a paycheck, you show up and do what is promised. You owe them nothing else. If another better deal comes up, you take it. If they ask you to come in during off hours or a stressful time, you ask what you will be paid extra. If they don’t offer you what is reasonable to you, you don’t come in. It’s that simple. Don’t think for a minute your personal sacrifice means anything whatsoever.
Absolutely right. The company has no loyalty to the employee. I learned that in first job out of college and that mindset gave me freedom the rest of my working life. I contracted for over thirty years coding. Got the higher pay so I could save much more, no stupid staff meetings, no work politics, freedom to take care of my family, no commute stress (worked from home for 24 of those thirty years), could stop and travel around the world, worked from a cabin in the rockies multiple summers, LOL no complaints not being a corprate clone.
I learned that hard way when I worked for a major airline 30 years ago. During the 1990-1991 recession, the company asked all employees to accept lower pay raises and fewer benefits in exchange for keeping our jobs. We all accepted but several years later, we still got downsized. And for "lowering costs", the executives awarded themselves million-dollar bonuses. Employees are nothing more than an operating cost.
I’ve been saving for a long time instead of investing, and right now I only have about $516k. I'm not sure how to make it grow, considering all the inflation, into something substantial that I might use for retirement. I’m just here for ideas
Nothing wrong with dividend investing in stable companies. but i'll advice you consult with an expert if you wanty to invest such amount for retirement.
Opting for an inves-tment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2022
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.
Consider financial advisory so you don’t keep switching it up, Top 3 payers for the month were $OHI, $KMI, and $EDP for an over all payout of a little over $20.. not bad for a 350k portfolio.
Agreed, I’ve been investing in the market for 11 years now, last 4 years with the help of a fiduciary advisor apparently due to the covid-19 pandemic crash. Throughout these years of guidance, I've been fortunate enough to 10x my return as a DIY investor, summing up nearly $1m ROI as of today.
No doubt, having the right advisor is invaluable, mind leaving info of your fiduciary here please? I only invest in 401k for now but particularly interested in diversifying my portfolio and exploring alternative options.
My advisor is Monica Shawn Marti, and her qualifications speak for itself. Most likely, the internet is where to find her basic info, she has a noticeable page for consulting.
Monica Shawn Marti is the licensed coach I use. Just [research the name. You'd find necessary details to work with a correspondence to set up an appointment.
This is my 4th year after retirement I've been following the %4 rule thing, but this isn't really how hard I expected things to be, a lot of people won't have a house to retire with either due to low paying jobs and inflation. I have about $157,000 outside funds in my IRA to invest. Please how do i take advantage of this
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
I completely agree; I am 60 years old, recently retired, I have approximately $1,250,000 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, having a portfolio-advisor for investing is GENIUS! (Alvarez Harry Flectcher) is a Blessing to Me
Wow 😲amazing to see here who trade with Alvarez Harry Flectcher too he is good with and on his job. He has helped a couple of families finances, I thought I'm the only one investing with him here
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.
Its unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $287k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I won't pretend to know everything, though. Her name is Vivian Carol Gioia but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.
An ex girlfriend became an RN about 12 years ago. I pushed her to go to school at night and she made it. I then told her take a job with the state, fed, VA............she wouldn't listen. She's now about 48. Knocks herself out in a nursing home.
Yep. 31 years at a state university hospital and I was able to retire at 52 with a good pension. I purposely stayed there in the same job all that time for that very reason.
I wouldn't bank on that. My father put in twenty-two years with the airforce and another fifteen with UPS. He was able to retire with basic comfort and basic health care but had to put in closer to forty years, not twenty. He was born in 1932 so what do you think the chances are for a person born later? I was born in 1967 and don't see how because even with two incomes are we able to save a little, not enough though.
@@georgeedward602 25 years ago I had nothing but a big mortgage, car payments, and a whole lot more stuff. I traded the house for a cheap $91K condo in 2002, the next year I bought a second condo. I got rid of car and bought a '91 Honda. several years later I paid off the second condo early. I now get $1600/month for it. I still drive a Honda, 2002 accord. I haven't gone on any vacation trip since about 2000. I shop only in goodwill, aldi & walmart. I do spend money on good shoes, Rockport.I got tough and created my own pension. I bought land 3 years ago for $525K, now selling for $940K. When I got tough & serious, I reversed my mistakes. I enjoy my clean old honda. I enjoy my smaller condo. Only 1 bathroom to clean. I have whatever I want. I don't know your life or situation but I just see many people around me complain when they take expensive vacations, buy cars for 30K, 40K, 50k, when I guy a good one for $3.5K. I learned from my Indian friend. Very thrifty and they're happy. The less junk in your life, the happier most will be.
What I believe, whether before or after retirement is that it's never too late for a good in vestment, and note that diversification is key. That is why I've got my interests set on multiple key sectors based on projected company growth and performance. They range from the EV sector, renewable energy, tech and health.
It’s possible to produce outstanding growth in portfolio diversification in a short period of time as long as you do something different from the vast majority and stay consistent with it.
Yeah true, in vesting in good company stocks is a great idea and a good tra ding technique or system put in place would guarantee you many days of success.
Its makes me feel amazing and a bit achieved since I started in vesting shortly before retirement, monitoring my portfolo performance which has grown exponentially to a million bucks, now I understand why experienced experts make enormous returns from the ever unstable markets.
@@callumfrank So do you have anyone that helps you achieve this steady but guaranteed growth in your portfolio? I mean growing to a million is very achievable but you need to be very well versed and knowledgable about what you are doing.
@@weicaihon Yeah I do have someone. A professional that has got accurate and reliable strategies, backed with proficient making resources and qualifications that ensure my gains every month
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Finding financial advisors like vivian jean wilhelm 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.
This first aired in 2006. I wish they would update a lot of these type of documentaries because so much has happened since then especially during a pandemic.
As I near retirement, securing the stability of my 401k after the tumultuous year of 2022 is of utmost importance. I've heard stories of investors achieving up to $270k in ROI during this ongoing market downturn. Any guidance on how to improve my ROI before retirement would be greatly appreciated.
There are strategies capable of delivering consistent gains irrespective of economic or market conditions, but these are typically implemented by seasoned investment experts or advisors.
For near retirees, having an investment advisor is the way to go. I've been with one because I lack the expertise and emotional fortitude for market ups and downs. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks realise
I work with "Monica Shawn Marti" and we've been working together for almost four years and she's fantastic. You could pursue her if she meets your requirements. I agree with her.
Thank you. Just what I needed to watch. My hubby and I are directors of our farm business and own property, plus small pensions. I am nearly 52, hubby is 55. We have started to save to retire from the farm, and possibly live on rental income, I'd really appreciate you go LIVE and talk about how to earn passive income online and retire comfortably, let’s say $1M.
It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into financial advisors for a strategy that suits your timing.
I totally agree, I'm 60 and newly retired with about 1.2 million outside retirement funds, no debt, and very small dollars in retirement funds compared to my portfolio balance over the past 3 years till date. tbh, the role of the invt-advisor can only be overlooked, not denied. just have to do your research in finding a reputable one.
mind sharing info on the adviser who assisted you? been saving for pension since age 18 - company scheme. along the way I hit higher tax, so I added to my company pension with a SIPP (tax benefits) I'm 46 now and would love to grow my finance more aggressively, there are a few cars I still wish to drive, a few mega holidays, etc.
The impact the housing crisis had to pensions propped up by mortgage backed securities almost makes this story look miniscule. These stories combined is almost too much to fathom.
I'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.
Having a coach is key in a volatile market, My advisor is “Deborah divito welch” You can easily look her up, she has years of financial market experience.
The earlier you start learning about investing, the easier it will be to pick it up. Financial professionals are difficult to choose and costly to keep, so it is best to manage your own affairs whenever possible.
The 1% of rich Americans think of how to invest their money to increase their wealth during the recession. While the 99% of struggling hard-luck Americans think of how to survive without food and daily necessities in the recession and the coming hyperinflation. I am just about to make my first index fund purchase via vanguard. I intend to invest long term. just getting slightly stuck on how I balance my percentage portfolio between equity vs bonds. Low risk is good for me. Any tips
You are absolutely right ,firstly I believe money in the bank is not money because it is bond to inflation and losses values overtime, You have to be well disciplined to achieve success and save before you spend Lastly success does not happen overnight it takes time, dedication and self discipline
money is a liability, not an asset. You have to exchange it for assets that represent real VALUE. Real estate - properties for rent. Stocks (dividends). Bonds (interest), funds, REITs (interest), intellectual property, The aid of an institutional or basic financial advisor's cannot be over expressed. I started saving and investing in 1989 at the age of 20... I am 54 today and have 2.2 million in my retirement account, 135k liquid and I trade securities with 50-55k
I'm bombarded with the don't sit on it during the inflation, I wanted to jump in 8/22 and did nothing. So far this year I think I need to get my feet wet but I stopped listening and taking financial advise from UA-camrs, because at the end of the day, I end up with a bunch of confusing stories. Have you always had guidance?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I’m fortunate to witness my grandpa live till he was 92. He retired at 62, and for 30 years lived off of social security and VA. For the majority of my grandparents marriage my grandma never worked and still lives at the home they bought 50 years ago. Both my parents are now 65. Mom just retired but is definitely worried about money. My dad said he will never stop working. Such a drastic difference from the Silent Generation to the Baby Boomer Generation. As a millennial I wonder what my retirement will look like?
@@GladysAlicea thanks, I’ve been trying my best. I can honestly say my investment account return is 8.8% YTD, and 9.5% last 10 years. I decided to take control and manage my retirement. I’ve made mistakes but I’ve educated myself. With that education I predicted, planned, and acted rather than just responding emotionally and riding the waves of the economy.
Keep retirement overseas as an option. My wife, a local, and I added a second storey of 95 square meters (1,022 sq. ft.) to her crib for $75,000. We doubled the size of her house. Mortgage per month -- $00.00. Property tax per year? A crushing $300. Beats the hell out of the $3,800 property tax I pay on a 1,019 sq. ft. place I own in San Pedro, CA. I tell wannabe retirees: GET OUTTA DODGE! BTW, excellent advice by Gladys. You've got time on your side, so you're ahead of the game.
My retirement account has gone down by 13.7% in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate peace? I don’t want to fail after 42 years of working hard.
If you want to rebuild your retirement by yourself, without the help of a partner, I will tell you it is near impossible. Even NewRetirement and co can’t do the job of an FA with expertise, a large following/client base and experience. Vet and hire one and begin to develop a rapport.
I have seen advisors and commentary on them but not one that looks this classy yet phenomenal. I set up a call. How soon should one expect feedback? I am looking to make better decisions this new year.
The 401k is good, because retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million. So it really does.
We were traveling in the same direction, my wife and I. I withdrew my money over the past two years and invested with her wealth manager. I won't be able to match her earnings over time, but at least I make more. Haha.
Asking for advice or assistance from a consultant or investment coach is the best line of action if you lack market understanding. Even though it sounds cliche or apparent, talking to a consultant has helped me stay afloat in the market and increase my portfolio to roughly 65% since January. That, in my opinion, is the current most successful strategy for breaking into the industry.
Having an advisor is essential for portfolio diversification. My advisor is “Kaitlin Rose Sternberg” who is easily searchable and has extensive knowledge of the financial markets.
I'm glad I became a federal employee 35 years ago. Everyone laughed at me for taking less money in exchange for security, but I can now look forward to retirement.
Well, never saw a State nor federal employee dies of starvation or become homeless. My brother retired from the State of Ohio with a pension nearly the same of ending salary with same benefits. He got a hell of a deal with High school education, but was a conscientious worker, he earned it. I'm 64, still working because I like it, I saved a good amount into 403b and IRA, plus I'll have SS, I'll be okay. I encourage the young I work with to get into 403b for tax advantages and the free organization contributions. Most piss away $100 a week at Amazon or Walmart on cheap plastic sh*t made in China 🇨🇳. It will end in landfill in less than 2 years.🤯😡
@@karley1548 Nope. I could’ve made lots more in the private sector than in the large state university hospital where I worked but I stayed put for 31 years and retired at 52.
Just imagine retiring as a registered nurse, using all your income/salary to pay rent and tax without any good investment or means of extra cash, tending to leave your profession/job that has been part of you for many years with no good funds. How will you cope?
My only regret investing with Mrs Stephanie Renee Anderson is not start-up earlier like my colleagues. I make more money investing with her than I do from my job.
My first investment in my portfolio was in the forex market with $1870. With Stephanie operating on my behalf, the portfolio balance is currently $17017.
I am at the beginning of my "investment journey", planning to put 85K into dividend stocks so that I will be making up to 30% per year in dividend returns. Any advice?
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.
The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
NICOLE ANASTASIA PLUMLEE is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
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 remember Suzy Orman saying "The best thing you can do for your kids is for you to be independent in retirement." If that means not paying their college or going to a lesser college...do it. And live below your means if you are doing well. No credit card interest, no car loans. Don't take a home equity loan unless it's an emergency.
Also live simple people today in my mind don't live simple. My wife and I live simple we have lot every thing in the last 11 years. Cut out all the extra stuff. So what if you are not keeping up with every body. You need to take care of your financial stuff for yourself. Then you will be better off.
4 years ago, both my wife and I were retail workers. Over about 3 years we had given our youngest almost $20K between car and school and she was trying to guilt us into give "way" more $$. I finally said, "your mother and I have to survive TOO". And we shut her off. Kid will find out about reality when they get older and find out $$ doesn't grow on tree. if only our government could figure out the same. And finally, I think too much help is detrimental to our kids.
@@Hunterhunter-ir9nz I will make sure my daughter finishes her college education so she will have a better chance in life, not teach her about survival without the proper tools.
I'd be retiring or working less in 5 years, and I'm curious how others split their pay, how much goes into savings, shopping, or investing; I earn roughly $250K per year but have nothing to show for it.
You can invest some of your earnings in stocks with market-beating returns and shares that at the very least keep up with the market over the long term. I urge that you seek the advice of a broker or financial counselor for a successful long-term investment.
Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
Elise Marie Terry is my portfolio-coach, I found her on Bloomberg where she was featured, I looked up her name on the internet. Fortunately I came across her site and reached out to her, you can verify her yourself.
@@ThomasHeintz Thank you for this tip. it was easy to find your investment advisor. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
As a soon retiree, keeping my 401k on course is my top priority. I have been reading of investors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated.
The current market might give opportunities to maximize profit within the short term but to execute such a strategy, you must be a skilled practitioner or be working with one.
@@JacobReynolds-t7v True, initially I wasn't quite impressed with my gains, as opposed to my previous performances, I was doing so badly, that I figured I needed to diversify into better assets, I touched base with a portfolio advisor, and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
@@BarbaraLouise-i3r “Victoria Carmen Santaella’’ is the licensed fiduciary I use. Just research the name. You’ll find the necessary details to work with a correspondence to set up an appointment.
Bankruptcy is supposed to be a help to companies struggling financially. But today it seems like business have just made it a part of their long term business plans like it’s a normal part of business. That’s unbelievable and unacceptable!
I knew from the time I contracted and was diagnosed with ME CFS at the age of 40 I really would suffer in my years past 65. Do you know how fortunate the rest of you are. My family choose not to believe in my illness. So here I am. Cherish what you have.
Planning retirement has never been this confusing! First SVB, then Signature bank and now First republic, these are all the signs of yet another 2008 market crash and recession 2.0, so my question is do I still save in the United States dollar, or could this be a good time to buy stocks? So I’m left wondering what 2023 has in store for us investors, I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here
Everyone needs a different stream of income , unfortunately having a job doesn't mean security due to the high rate of tax , one needs to move ahead their expectation, I would recommend refraining from investing in Forex/stocks for now. Instead, it would be prudent to consider retaining a portion of your assets in gold. Alternatively, seeking advice from a financial advisor could provide valuable guidance in this
This seems like the worst period. Even the markets are very unpredictable. started investing recently when the market prices were a bit high ,today i am more than 60% down
Having an investment advisor is the best way to go. Based on a direct encounter with a CFP named Kate Elizabeth Amdall, I can say with certainty that their skills are excellent. She helped raise over $580,000 in 18 months from an initially stagnant portfolio of $150,000
My husband is just a few years away from retirement and I have at least 10 more yrs. I know we haven't saved enough money. I have started the process of reducing our debt and paying things off to lessen or burden.
Without a doubt. In 2008 we lost almost all of our 401k. It was just now getting back to where it was when now the pandemic and inflation has caused us to lose again. Also with inflation the dollars we do have are worth less as they have a smaller buying power. We are losing sight of retirement again. Frustrating as hell. We followed the rules to prepare for retirement but due to circumstances outside of our control we are behind.
@@browneyedgirl4637 did you sell at all? Did you continue to make contributions during the dips? I get the frustration, but if the NASDAQ is 10x what it was in 2008, and the S&P500 is 4x. I only started saving in 2009, but saw great performance with little thought/analysis. I’m not doing so well now, but that’s part of the business cycle (ups and downs). The closer you are to retirement, the smaller the percentage of your funds should be in stocks.
I'd be retiring or working less in 5 years and I'm only curious how people split their pay, how much of it goes into savings, spendings or investments?? I earn around $165K per year but nothing to show for it yet
Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
Thats true, I've been getting assisted by an investment coach Helene Claire Johnson for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
I was warned by elder mentor. They told me to have a diverse portfolio. I have a rental property that pays me a monthly income. I have a pension from the Military. I also have a Roth IRA & deferred Comp. I am also working on another pension from my 2nd career, and I am also eligible for Social Security after paying into it since l was a kid. When my time comes God willing l don't pass before l retire. l will have multiple income streams during my retirement. My mentor was a factory worker who put all their eggs in one basket and lost their retirement when the company folded and moved to Taiwan. I owe them a lot for taking me under their wing and teaching me how to prepare for my retirement when l was only 17 yrs old.
I wish my husband would read this advice because this is exactly what I'm doing and trying to get him to understand but he just keeps shouting "come on XRP!" God help me! The wishful thinking instead of strategic planning has my mind blown! I'm preparing without his help.
@@findmeanewplanet Show it to him and show him this documentary. Maybe it'll help. Maybe one night play this documentary on your TV and have dinner ready on a TV tray. Don't say anything to him just watch it over a nice meal. He may passively listen to it but chances are he'll get something out of it.
Looks like you are doing well for yourself. I don't think you will need social security. If we can take it and disperse it to those who don't have as much than everyone can retire.
A government that doesn't take care of the basic needs of the people is worthless to the people. Seniors and children working menial labor is a disgrace.
I plan to retire at the end of 2022 at 57 after 36 years in Telecom as a sales engineer. My wife will retire in October 2022 and she' s loving life! But walking away from a good income stream and building the nest egg to living from the nest egg is a scary proposition, scary to stop saving and start spending.
God places great things on the other side of fear. My advice, don't wait till the end the year. I just attended a funeral of a guy that retired in December 2020 at the age of 62 -- Life is short. Live it on your terms. Take the time to learn about passive income via dividends & real estate, index funds, automating investments, budgeting, etc. you'll be very happy you did
@@lylahthompson2169 I’m thinking of investing into stocks esp index funds .When you invest into index funds you're essentially investing into the economy as a whole. Because you're choosing to own a little piece of all the most successful companies in the country/world but how are we going to achieve all that given that the market has being a mess most of the year?
@@mialangley2388 There are lot of ways to make a killing right now, but such high-volume near impeccable trådes can only be carried out by real-time experts with ISDA Agreement . I began with " *Katherine Duffy Burke* ," and my gains were guaranteed. In such instances, I would always advice you get an expert to guide you through unpredictable markets and simply provide you with indicators and tactics for determining when to join and exit the market
@@willlategan7558 sure fnancial-advisors are outperforming the market and raising good returns but some are charging much, seeing that their services are currently in high demand more than ever....seems more like taxing to me
@@aubreymcgovern9467 Yes they can be positively impactful to an individual's portfolio. Katherine strategy is transparent allowing total ownership of my tråding account and fees are very reasonable in comparison with my ROI.
Fr! Was pointing that out to someone earlier. Dude started working in '75 making $2.10/hr. That equates to nearly $12/hr after accounting for inflation in todays money. When I started working in '06 I made $7.25/hr, which doesn't even equate to $11/hr in 2022 money. What the hell is that shit?
I bought / sold two apartments in NYC, and was treasurer of one coop. So I saw many financial applications from prospective apartment purchasers. Most were middle aged, professional people earning very good money. Most had very little savings and a lot of debt. Still paying college debt in their 50s. Divorce had wiped many of them out too. I was shocked.
And us people of age (52) with Covet/supply chain issues hit hard let alone the war in ru/uc. and as of last week talks of raising the retirement age to 65 .. take a look at your 401K now.. not good. 08/16/2022
And what the big guys don't like. people that are layed off with no work have time to do homework,and the baste-reds doint take to account, they cant get rish'er. if people don't work.. (make them money)
When this aired (according to the description) I was a just a freshman in high school and oblivious to any of these issues. Now at 30 years old and understanding how America is designed to profit shareholders, I quickly learned early in my career that I value job security and benefits over a high salary any day.
@@8000RPM. Tell your Daughter to apply for college in Germany. Its nearly free for Americans and the rent is lower for a apt. Ohh and no shootings! health care is less then 100 dollars a month.
You just said it yourself. America is designed to profit shareholders so by stocks become a share holder. Start buying stock in companies that make the things you use every day then broaden out from there.
@@climeaware4814 Thanks, she is a Cum Laud Graduate from a highly respected & accredited college. She has a job with benefits ,which have been discontinued for "new hires". The new hires get higher pay ,but no benefits. She has offers from other higher paying companies. I'm trying to convince her; benefits are a better compensation than higher pay.
@@8000RPM. A relative just got married right away (they had planned to in about 18 months) because when she left her job she found out she had to pay $1000 a month for health care! Now she is covered by her husband's.
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.
45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.
Your adviser must be really good, I hope it's okay to inquire if you're still collaborating with the same adviser and how I can get in touch with them?
She goes by ‘’Aileen Gertrude Tippy’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did
We aren't retiring. Our own government has said social security will literally run out by the time millennials retire. Personally, I plan to just live in my van for the next 30 years. In the first yeary bank account went from $145 to 8g's l so at this rate I'll have a six figure bank account in about a decade.
My plan is not having children, live within my means, keep eating my veggies everyday and start a small business before I turn 40. That should give me a good advantage to live some feaceful years when I'm old.
I was lucky enough to live with my parents for a while after college to help pay down debt. I tried to sock away and pay off as much as I could before I moved away for a different job. Not the most fun process, but managed to get a start on loans, savings, and retirement before I had to financially manage a household. Socially a downer, but financially a big help.
👍 This topic is just as relevant today as it was then, with the exception that corporate greed has had 15 years or so to get even better at stealing the labor of its workforce and ultimately its consumers. Who in their right mind would defend this version of corporate theft? Who in their right mind would allow it to continue unabated and accelerating? Who is in their right mind in this country?
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains with months, I'm really just confused at this point.
I believe that diversifying your investments is the safest way to handle it. One way to lessen the effects of a market crisis is to distribute investments over a variety of asset classes, such as international equities, bonds, and real estate. It's critical to look for expert advice.
Indeed, many people minimize the significance of advisors until their own feelings burn them out. After a protracted divorce, I needed a boost to keep my firm viable, so a few summers ago, I looked for licensed consultants and found someone with the highest qualifications. My reserve has increased from $275k to $850k thanks to her assistance, even with inflation.
NYCOLE CHRISTINA VANNATA is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
knowing your rights, etc should be as well, with plenty of examples of when the police pull you over and want to search your car. Or come to your home and want to get the serial numbers from your firearms, etc. but it wont, b/c the people at the top want the USA to be exactly where it is...Authoritarian.
Tried in my hs. Held 4 free 30-minutes personal finance sessions (w chips & drinks). Sent announcement on weekly news. No students showed up except 9-10 staff members on each sessions.
Few will listen. People’s sense of entitlement will keep them broke. They think they deserve that $10 coffee. They are too good for that $2 pot of lentils but will buy a liter of soda. Can’t afford to save $50 a month but somehow afford cigarettes
We are in a recession. It is very vulnerable to a depression.. Most of us have had our savings dwindle with the cost of living into the stratosphere, we are finding it impossible to replace it. My condolences to anyone like myself retiring in this crisis, it gets tougher by the day.
As a fellow retiree lI totally feel your pain, l'd suggest you look into passive index fund investing and learn some more. You should have looked into earning passive income years ago; its still never too late to get started. For me I hired an expert advisor for assistance, and following her advice, I poured $50k in passive diversified safe-haven assets and its yielded $175k so far. Nothing special, just proper diversification and a cut loss and take profit strategy.
@@jasonbutler1149 The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees drain your portfolio. Is this the case with yours too?
@@adamdiroff4869 Investing or trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor their trades... I will advice you to stop trading on your own it's very risky. Seek advice of a professional trader.
I think your retirement qualifications is based on what your comfort levels are. I'm self employed with only SS to support me. But at 63 I have no mortgage, no credit cards, no car payments. I'm holding out till 66 & 11 months for the full meal deal. I'm a pro house painter in Wyoming & during the winter/no work, I sell on ebay. Have always lived "poor" but I'm cool with that. And own a perfect painter's house. A 1870 log cabin. Did not plan it, just worked out that way. Was never lookin to get rich, just get by. What I'm thankful for tho is they now make electric snow blowers.
"Retire with financial peace! Invest in the market to create a steady income stream. Diversify your portfolio, grow your wealth, and enjoy the freedom to pursue your passions. Make your retirement a new chapter of financial stability, growth, and joy - invest wisely and live life to the fullest!"
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or bitcoin and stocks..
@@rougeur Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances….
@@face2lune I’m Glad i stumbled on this. Please, if its not too much of a hassle for you, can you drop the details of the CFP that assisted you and how to get in touch….
Start as early as possible. At 27, I got a 18,000 in a IRA, 3,000 in 401k and 7,000 in a HSA. Most people think the amount you put in is important but mostly time is the biggest factor. Starting earlier means I can do the same amount in 20 years instead of doing more than double the amount to catch up.
My company of 43 years was the largest in the world at one time and while the top execs had their golden parachute of 90 million each and the owner made several billion and a 45 million dollar private island off Florida had a deliberate plan to sell off parts of the company and the government allowed him to declare bankruptcy and default on almost 3 billion in our promised pensions so now im still working and going to struggle with the piddling amount the PGBC will pay out…and the owner still has a reorganized online business…now you can guess how i feel about corporate and executive greed …i researched what happened every step of the way…the paperwork was done in Delaware and records destroyed …i could go on…congrats to Eddie Lambert on his coup
Ah, Delaware, the US offshore tax haven of the rich. I'm so sorry that happened to you, but even state pensions aren't safe. They give pensions to Wall Street to manage a guaranteed money loss for valued workers. I worked with trade unions for years, and they had decent benefits, but eliminating them was the beginning of the end for so many. It's disgraceful and criminal to treat the workers who give so much to make companies successful, only to enrich CEO's and stockholders. Our government's just as guilty; we're way overdue for tax reform and an entirely new stock trading laws, including our politicians who get rich with inside info.
Very well articulated; I wish I had more time for trial and error, but I'll be 56 in October and I need ideas and advice on what investments to make to set myself up for retirement, especially with the looming inflation and recession; my goal is to have a portfolio of at least $850k at the age of 60.
There are a lot of strategies to make tongue-wetting profit especially in this down market, but such sophisticated trades can only be carried out by proper market experts...
You still got time. Having an investment adviser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I netted over $340K during this dip, that made it clear there's more to the market that we average joes don't know.
@@marianparker7502 My advisor is 'Susan Agnes Hancock'' In terms of portfolio diversity, she's a genius. You can glance her name up on the internet and verify her yourself. she has years of financial market experience.
@@wiebeplatt4749 Thanks a lot, I just glanced the investment Advisor you mentioned and i'm super impressed with her credentials. Scheduled a session with her after writing her.
My first job after college was in 1973. I worked for a large electric utility company. I remember one day seeing people sitting at their desk and crying. I asked what was going on and heard that the retirement funds had been mishandled and the fund was basically broke. I was in my early twenties and didn't understand the problem. They said that many were nearing retirmenet and they had virtually nothing for retirement. Since many of the people were in their late 50s or early 60s it was little chance they could keep a job. People didn't hire elderly people at that time. Companies used to make you wait before being eligible to join for the retirement fund. You couldn't transfer this to another company either. Then they created an IRA account. You could keep and manage your own retirement. Eventually the 401K came into effect. You get to manage your own retirement investments and it stays with you. What's the big deal about managing it yourself? Doesn't everyone also manage their own money anyway? Be thankful that you actually have retirement money that stays with you rather than what happened years ago. The problem with most peo[le is that they don't know how to save money or they don't know how to plan for the future.
And not everybody can be an engineer, not everybody can be a cement layer, a police officer, a school teacher k12, so glad you have the skills, however I still am grateful for everybody who takes and works at a job I either don’t want to learn or can’t do. By es, I can read budgets and save money. And health wise I am working well past my FRA because I can, saved my house in an early divorce, paid it off and put 3 kids through college while I was owed $110,00 in back child support who is still paying…and he had a B.A. and a polycrystalline officer out of state in Atlanta PD and Tampa. But I do not want to drive a truck or work for United Airlines. Every working person has a different set of skills.
@@mariekatherine5238 Not everyone at 67 is like that. So other cultures value wisdom and figure out where to use that. (for example the Far East) Anyway, if you never traveled there for years to that area of the World, you may not know that and that is certainly understandable. I have thrived in the USA and in foreign countries as a professor for years. Not all work is lifting heavy objects.. Be sure to have a nice day. I bet you will most likelynot be using a cane at 67. Either way, YOU are great. I am sure you will always be a valuable employee. Take care.
This video breaks my heart. I feel like my wife and I are going to be okay in retirement - not rich, but I have a lot of sympathy for these folks who will have to work during their retirement years. We have to break this chain.....
Financial retirement was the last thing on my mind when I joined the USMC in 1974 at age 18. Even back then, I was putting some of my money into savings unlike so many of my fellow Marines. Now, decades later, having my military retirement pays all of my monthly expenses.
@@tonylevine2716the current benefits suck, the kids don’t want to go into an unending war that only benefits corporations…if they can even make it past the enlistment physical.
I've kept much of my savings in cash for safety, but I'm unsure if it's right for retirement. Contemplating investing $400K in stocks, as I've heard investors can profit in tough times. Unsure about my next move.
It's impressive how much you saved during your working years, a feat not many achieve in a lifetime. Now that you're retired and rely on your investments, it's wise to redistribute your capital to mitigate risks during market fluctuations. Consulting a financial advisor can help simplify this process.
Yeah, I’m also closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who have been investing for many years.
Old workers are doomed! I have a 403 b I started to keep an eye on it currently. I'm at the cross roads of moving it to a bank in my IRA just to save my 403 b. I'm currently watching it every week. It's very scary.
A similar thing happened at Eastern Airlines years ago. I was a kid so I don’t remember all the details but my godfather lost most of his pension and ended of dying from the stress of it all
I have told my kids to invest 50% of every dollar they receive into VTSAX. My 17-year-old opened a Roth IRA when he turned 15. He has around $6500 in there. He also has around $2600 in a UGMA account, as does his 13-year-old sister and 11-year-old brother. I also opened Fidelity Youth Accounts for my 2 oldest. The bottom line is, take at least 25% of every check you earn and invest it and you will be fine. I prefer pre-tax only because you never miss the money.
A young man I met when I first started freelancing online after resigning over this crap at IBM had a great way of putting it. He said he never had a J.O.B. and never intended to have one. J.O.B. = just over broke.
I'm 75. Retired from 40 yrs bedside nursing in ER/ICU. I'm taking care of a friend's mother who has advanced Alzheimers and I'm on duty 12-16 hrs per day. I have to work at night if shes having a bad night or if she decides it's a good time to rearrange her bedroom furniture.....🤭.....or paint her bedside table w something thick, brown and sticky......then it's on!!! Not only is it 3 am....the bed has to be stripped, the floors and furniture washed and cleaned w a bacterial wash. The pt has to be showered, And nails cleaned underneath....clean clothing because she sleeps in her clothes....the washer has to run 2x for each loadll....its 6 am before you're done if this happens at 3am...🤦🏻♀️ My little condo in Jacksonville is paid off. I've never lived in it.....I hope to one day.....but only God knows if that will happen. She's 85 and family has a history of longevity. I'm 75; So we'll see......🤷🏻♀️....... I've known her for 20 yrs....she hasn't known my name for 6 years. She's spoken word salad for 4 years......so I had to learn to speak Cheshire cat.....poor lady was a business tycoon And now she steps behind me if strangers approach, And says quietly under her breath, "Crystal"😢(with fear in her voice).....Crystal is her daughter. I wrap my arm around behind me and around her and pull her up next to me to comfort her... "It's ok, Mama, no need to be afraid....they're nice people."... Once in a while she'll ask in clear english, "Are u going home tonight?" And I tell her.."no way, Jose, I'm staying right here w you" And she'll say, "thank you." So yes....I'm 75 and still working.....but after 6 yrs, It's a labor of love, and I just pray God keeps me strong while she needs me....💝
You are a rarity and an angel. That disease is atrocious and I hope for her sake and yours she moves on soon. After that you really should put yourself first as you have already paid your dues not just with her but that 40 year career of yours, Nursing takes a lot out of you mentally and physically especially after that many years.
Same thing happened to my now long deceased Auntie, may she rest in peace. She was an airline stew for Delta, then retired...soon after that Delta went into bankruptcy, and she lost it all.
How much of that money was taken by the CFO or CEO of all these companies I guarantee they planed on doing this in a board meeting then gave themselves a raise. Don’t forget they kept some for campaign donations to protect this process
When they stand before the Most High God they will have to give an answer to why they did what they did As much as you have done unto the least of these my brethren so have you done it unto me says the Lord Jesus 🔥
I'm so glad that information is more available now. I invest in my 401(k) in the absolute cheapest whole stock market funds and bond funds. Basically the S &P 500. There are lots of choices that are offered but when you look at the fees and the advisor fees. OMG! I get emails at least once a month asking me if I would like to sign up for active management with an advisor and to diversify my portfolio more into the funds that have double the fees. I click NOPE every time. I'm not going to pay double the fees and pay someone to move my money around while collecting management fees. I rebalance once per year based on my age. It's actually not that complicated.
Good job. Just takes a little knowledge to manage your own portfolio. Stay with low cost diversified index funds, like the S&P 500, or a mix with bonds for a lower risk portfolio. There will be good and bad times in the marked, never pull these funds out early...you will do fine.
I’m a Carpenter. A nail bending, saw dust making carpenter. Its called personal responsibility. Don’t rely on a company to do what you should do for yourself.. I will have a million dollars at retirement. My Dad said a hundred times. “Its not what you make, it’s what you keep”. Live within your means! Although why fully retire anyway? A person needs a perpose in life. When you stop working, you die.
Uh no. You retire to Vietnam, marry a hot young woman half your retirement age, take up hobbies and travel and enjoy every second. Keep bending those nails and telling yourself building Shlt out of pallet wood is satisfying.
I'm 60 years old. I saw this coming 30 years ago. I knew private Corporations more often breech their own agreements with employees. For this reason, I steered clear of Private Corporations and Private Market 401k plans. Instead steering towards Defined Contribution Plans from employer contributing to my own FICA social security contributions. Which compliment each other with both Pension, and Social Security benefits for the retiree. Private Corporations break employee promises for hedge funds and golden parachutes of the rich. The hell with private corporations
@@chowsquid No. Defined Contribution variant 403b is very different than 401k. Depending on your Employer, and Union agreement with employees. Employers sign into contract with employees to match contributions into the 403b account with each member under joint agreement contract. While 401k accounts have no such features.
The greed of corporations is bottomless! Unbelievable that once again the tax payers have to foot the bills to make up for corporate greed. Unbelievable that there are so many loopholes fir corporations on the back of their employees. I sometimes wonder how these CEOs can still sleep soundly at night.
No, it's totally believable. The system works as designed. As for how CEOs sleep, hah. I bet they sleep like babies. People who aren't psychopaths don't get promoted to CEO.
Hospice RN, here. Working until I'm 70 because my adult children will have to do the same. Healthcare, inflation, and the fact I waa told to plan to live 95, makes me feel terribly unprepared. My 88 yr old mother has advanced dementia, and all her savings are nearly depleted in nursing home care. Her mother lived to 99. So, essentially, medicaid will pay her nursing care soon. Plan for elderly care...it runs 8 to 12 thousand dollars a month, at least. And that's today's prices.
This almost happened to my mom. She retired a year early as a teacher when Chris Christie was governor. If she had waited one more year she would have lost 40% of her benefits. She passed away earlier this year but she loved having a good pension.
Sorry to hear that your mother passed. Very difficult time. You are correct, pensions are a promise, not guaranteed to be followed through on. F promises. GIVE ME CASH!
Thank goodness I went back in the Army Reserves after a 15 year break and at age 41. Stayed until age 60 and now I have a decent pension. Hopefully the government won’t cut that.
I mentioned to a recruiter that I was a veteran, one I ran into at some fast food place, and he leaped to offer me the chance to return to active duty at my old rank when I discharged. I thought he was kidding...because at the time I had been out of the military for more than 17 years, and was over 40 years old.
My dad was in for 30 years. So far they haven't made any cuts to him, but Tricare is getting harder to use and I think more expensive for spouses and dependents. I dropped off my parents' insurance long before I needed to because it was twice what I could get at work. The coverage was worse and my parents would have rather me use that money to pay off loans, but financially it didn't make sense to pay for theirs. I have a feeling they'll continue to gradually cut benefits as the years go on and nickle and dime people.
@@Erin-rg3dw yep. That's cuz tricare is a private gvmt contractor. Keyword there is private. They are beholden to their shareholders. Not their customers.
You can retire on very little as long as you have no debt. Much better of course if you have a nest egg but as long as you keep your expectations in keeping with your financial situations. I wasn’t able to start saving until my 50s and focused on paying off debt and doing what I could to get all maintenance on house and a car prepared for 20 years. So far so good.
It's interesting that this was aired in 2006. This was the first year I started contributing the maximum allowed to my 401(k) plan. My employer matched my contribution. In 2006, I had saved about $50K for retirement. Now I have about $1.6 million in retirement savings. In my opinion the critical factors are: 1. Contribute the maximum allowed 2. Stay diversified (60/40, equities/fixed income) 3. Educate yourself on the basics of investing, for example, some mutual funds have 2% fees, others (Vanguard for example) have fees of 0.06% (edited percent, missed decimal point in original post). This makes a huge difference over time. 4. Do not take lump-sum withdrawals at retirement. Stay invested. 5. Pray that the stock market rises.
I was going to say basically the same thing, but you said it better than I would have. I do think that the 60/40 spilt is usually appropriate near the end of one's career, but for earlier the percentage of equities should be much higher because over time it will yield better returns. For a person who can't contribute a large amount per paycheck that is essential. And Vanguard index funds have fees more in the 0.02% range. And you left out one thing: DO NOT touch the money in your retirement fund for any reason until you retire.
I'm doing the same thing you are. It comes down to discipline and self accountability. I will get a pension from the states of NV and PA. We max out our Roth IRAs and the wife's 401k. We do side investing mutual funds. The key is to live below your means and be a steady invester.
Congratulations, you were smart! Step #5 is the one that makes all of the other steps worthless if God ignores your prayers! $1.6m may sound like a lot but it isn't in an economic system such as ours. Capitalism and corporate greed can still destroy your wealth at any moment! I hope that doesn't happen for you. 🤞🏽
companies do not exist to take care of their employees. they are not moms. companies exist to make a profit for their owners, which can be you if you buy a share. employees must care for themselves.
@@DrSchor yes that is a cruel reality. I imagine if all employees in a company because of mal treatment decided to quit and no one would want to work in it. Would the company survive. Companies exist because of their employees. Would the owner do all the work workers do?????
One positive change is that we now have far more information about investment strategy and there are “set it and forget it” options available. More companies are adopting an opt-out policy rather than opt-in to encourage participation. It is also pretty important to be debt-free before you retire, but that is not a 401K issue.
I immigrated to the U.S when I was 25 for graduate school, once I saw the 401k plan I knew I needed to come up with a different alternative so I started buying real estate. Today, I have 10 units cash flowing really well and values keep going up, I think I will be ok, my 401k isn't doing as well of course.
First thing to realize when watching this, is that the content is nearly 20 years old (just look at the clip of Elizabeth Warren). The next is to realize is the sign posts of this where visible to anyone who was watching. I am 75 and retired at 60. I live in a third world country (Lao) and look after my family on about $200 a week. It is not difficult as we own our home, tax's are low, health care is cheap, I don't drive a car, and I have a simple life. We have a few acres to grow food to eat and to feed our animals which we also eat. So if you are struggling look at options outside the west, and you will do just fine.
@@joehalliday6081 I live just outside Pakxan. Yes the only way to own land here is if you are a Lao citizen. So I will never own it, but as I can't take it with me when I am no longer topside, I am ok with that.
@@joehalliday6081 Leasing is an option for anyone who is just looking for a place to be that is not crazy. These days those places are few and far between.
I listen to FIRE podcasts and all of these problems seem to me... easy to solve. I don't encounter them in my investing life either. This is the value of financial literacy. If they just opted into their 401(k) asap, chose a semi-aggressive savings rate, chose a low cost diversified index fund, they would be 80% on the way there.
It's not that complicated. You can also use a financial advisor and pay him a small fee so that you don't mess up. Simple. They have to be a trusted financial advisor with a good track record, word of mouth etc. Just like you need a doctor for your health, you need assistance with managing your retirement money too. Why would anyone do it on their own?
Better than a pension, which are managed by a bunch of people you don't know and who are often unqualified and don't know what they're doing. The dirty secret behind the mythical pension is that most of them are insolvent and have either already been bailed out by taxpayers or will need to be bailed out soon. They are all built on fake promises and the underlying BS just gets dumped onto the taxpayer, usually buried inside giant government bills with "catchy" names. Just read the stories on here: "well my dad worked for 40 years and then he and his stay at home spouse retired comfortably on his pension for 30 years." Ummm... how is that math supposed to work? So you've got 2 adults over a 70 year period, so 140 years of living expenses. And people think it makes sense that these 140 years of expenses can be funded with 40 years of productivity (28.5%)? Give me a break. Everyone wants to put in a little and get a lot but it doesn't work that way. Your 401K/IRA/HSA/etc. is YOURS and YOU own it. Much better than hoping your well-intentioned-but-financially-illiterate union reps know how to manage a financial portfolio and then begging the taxpayer for relief when it doesn't work out so that you don't have to eat cat food. Managing a basic 401K is easy. And if you really can't figure it out, there are plenty of people at your company that can show you. And if you really, really can't figure it out, hire an advisor.
@@snickersimsocute2438 pretty much the same amount of money the company was putting away for you in your pension instead of just giving it to you in your paycheck. Do people think pensions are free?
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
I have always been interested in finance, wealth, and money management. I was a homeless teen and later, a young mother, single, married, divorced, and now, thank God, married again in my forties. I never realized how important it was to finish life with someone, and I’m so grateful that my husband is actually retired military, service disabled veteran, and works for the government. Although I saved for retirement, the money I saved is now money we use to enjoy life together.
I am 27 and i just started my ROTH IRA and deposited the max for 2024! I feel stupid for how long it took to get my life straight. The problem here is, what is the best way to invest the money to grow for retirement?
I believe every Investor should start with ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth.
You don't need to find the next NVDA to succeed in investing. Just choose top-notch ETFs and partner with a CFP like I did. I turned $90k into $50k in annual dividends-a significant milestone for me today.
Impressive! I admit I'm scared about retirement as I'm approach that chapter. I need to ensure I have enough savings to survive on. How can I consult with your adviser? My retirement account isn't performing well.
I've been working with "Kathleen Cheryl Constantz” for about 2 years now, and her performance has been consistently impressive. She’s known in her field, look her up.
Kathleen sure knows her onions in this industry, from her intimidating profile which I went through, on her web home page. I started off last year tailoring a colleague's retirement planning but it didn't pan out well. Hopeful that Kathleen will attend to my message.
Take away for the American worker:
1. Your company has no loyalty to you, so you should have no loyalty to the company.
2. If you are let go and you do have some sort of pension or 401k, get your money out into a self directed IRA asap.
3. Don't let the company talk to you about their great pensions or other benefits.
Only consider the straight salary you will get to determine if you take the job.
4. Always keep your eyes and ears open for a better opportunity. If you see one, go. Do not worry about the vacuum your leaving might cause.
It is not your problem.
5. Only rely on what YOU have put away in accounts you have control over. Always assume that the company will dump you at any time if it is in their best interest and the interest of the CEOs keeping their over inflated salaries and golden parachutes.
6. If you don't understand how money works, learn. The internet has a wealth of information if you only look. Or go to your local library.
Agreed except 3, benefits matter.
I think the whole point was that average people shouldn't be expected to learn to be financial experts. The shift in responsibility is what got us here. If a CEO wouldn't want there employees touching his retirement, why the hell should they touch there's?
My dad was born in 1940, late silent generation. He worked for a blue chip in a mid-exec position and was able to retire at 55. my mom inherited a decent amount of wealth from her dad in NJ.
A bit of backstory, b/c I have practically zero, for all intents and purposes, for retirement. So, I will have to use/depend on what I get in inheritance to "make it".
What I do have though, is decent knowledge with living in other countries. Countries that have a much lower cost of living than the USA. SE Asia, and Latin America. I'm 90% confident that ill be able to make it, via living in another country to my liking.
____________________
If you are worried about making it in the USA. First, if you really want to stay within the USA, then look into the "Retirement haven US States" (a few examples: West Virginia, Arkansas, Mississippi, Louisiana).
Sure, it will be different from where you were before, but it will still be [in] America, AND the cost of living is the best value for the money. You would be surprised at what these states have to offer, especially if you are an outdoorsman. The "NW Corridor" of Arkansas has grown and changed that many really like what it has become. Wal-Mart, Tyson, and the Univ. of Arkansas helped change Fayetteville, and its surrounding cities like Rogers, Springdale, and Bentonville) into what it is today.
@@Gizziiusa your on point about living in SE Asia to live well with an underfunded retirement…Thailand or The Philippines comes to mind where a normal Social Security check goes a long way. Just don’t piss it all away on nightlife!
@@Gizziiusa "What I do have though, is decent knowledge with living in other countries. Countries that have a much lower cost of living than the USA." BINGO! Smart person. You're going to be fine.
As I watch this documentary, I think of that saying "Socialism for the rich, rugged capitalism for the poor".
Wealthy corporations get bailed out when they have financial trouble. Poor working folks are on their own.
Thank you, Frontline, for this great documentary.
Young people's future has been sold by the Boomers. My retirement is sitting in a Panamanian bank account that belongs to some fucking billionaire leech.
If we want to retire we are going to have to violently force that wealth to trickle back down. Refuse to participate in the system as much as possible, make your politicians uncomfortable.
Capitalism has brought more people out of poverty and given more people a chance at the American dream; moreso than any other type of system. It's not perfect but it's def better than anything else they're offering
No, that's just capitalism. It's not supposed to be fair. There's nothing wrong with the way capitalism works in the USA, this is it. If you allow a small minority of people to accumulate all the wealth, they're going to use it to consolidate power and maintain their dominance forever.
Fun fact, it turns out when capitalist democracies enter crisis because of the social dysfunction, they mostly don't turn to socialism. They turn to fascism because at least in a fascist state, the same people stay in power, they just resort to using state violence more overtly.
Look at the raises that our senators and congress ppl get every year too. They get theirs… it’s really sad.
You are 100% correct J.M.O.
I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Mind if I ask you to recommend this particular coach you using their service?
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
40 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $4 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.
I fully agree; I'm 56 years old and recently retired with approximately 1.2 million in outside retirement funds, no debt, and very few dollars in retirement funds in comparison to my portfolio balance over the last three years. To be honest, the financial advisor's role can only be ignored, not dismissed. Therefore do your research to get a reputable one and that should be any individuals main route into the market.
Yes, I'm in my mid-50s, and a few years back, I moved my investments to my wife's wealth manager. While I haven't caught up to her long-term gains, my current earnings and the growth of my retirement fund, compared to just relying on the 401(k), are pretty satisfying.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I am 57 am driving a 2006 Honda Accords with 180k miles. I have the seven figures saved. I have three pensions starting at 60. I am spending money on experiences not things.
@@CarlosRodriguez-ox3bg Hey man,That’s great, I feel you need to plan for retirement early and have a fin advisor help manage your funds and live on passive income without working or stress for good health.
My husband and I retired without debt in 2019, we retired to Belize and live very comfortably on our SS benefits. America is just too crazy economically. We’re very happy here and live a simple life on the water.
Nice! My goal is South America too
@@finejustgivemeaname pzaaa,aazaazapazzaz
Many people are choosing locations like Belize, Thailand and Philippines for wonderful retirements they never could’ve afforded stateside.
Congratulations!. I’m happy for you. Enjoy your well deserved retirement.
@@mjo8856 3rd world countries arent what you think like its a warzone or a thug-infested place , there is a safe place to live and the people are nicer.
A growing number of individuals may struggle in retirement due to a combination of factors. Low-wage employment, rising inflation, and soaring rents hinder their ability to save, while middle-class Americans are increasingly finding it challenging to achieve homeownership, leaving them without a secure place to retire.
Rebuilding your retirement independently, without expert advice, is a challenging endeavor that's close to impossible. Even reputable online tools like NewRetirement have limitations. For personalized guidance and tailored support, consider partnering with a seasoned financial advisor who has a proven track record, extensive experience, and a strong client base. Building a rapport with them can make all the difference in achieving your retirement goals.
In my opinion, making a smart investment is not only a technique for earning passive income, but also a profitable way of saving for future expenses. People who fail to make the proper judgments early in life often come to regret it later in life. Nonetheless, investing alone can be difficult and risky. As a result, I recommend obtaining expert assistance (financial advisors). The challenge is not just watching videos and reading investing books; it is about implementing information effectively.
As an OAP with extensive expertise, I am certain that the success of any investment is dependent on getting the appropriate knowledge, regardless of what others think. I made $100,000 while working with licensed financial adviser.
True. Having the right financial planner is invaluable. My portfolio is well-matched for every season of the market and recently hit 90% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, though this could take till Q3 2024.
Your words have inspired me to take the leap into investing. With a substantial sum ready, my primary concern is making smart decisions to avoid losses. Please share your expertise on how to invest intelligently, emphasizing the importance of working with a licensed financial advisor.
My kids live out of town and my enjoyment is to go see them and my grandkids. After listening to this podcast and others I look for a glimpse of what I can do now. I am exhausted and do not want to continue working. I am that employee that locks the door at the end of the day. Regrets now - that I did not take care of me - I just kept working. I hope people will read this and realize - time to take care of you!!! It’s our responsibility to do so.
Thanks for sharing. I sit here, 45 years old worked hard for so many years, kids grown - well educated, house paid for, no debt - bought a new vehicle and will pay off. But.....no savings for retirement. So mad at myself that I worked all these years and did not take care of my retirement. Just worked and the years flew.
you yourself have to define the life you truly want and do everything you can to gain that. Stop living for others, and what they might think of you and do what's best for you at the end of the day.
@@justingregory2965 Thank You Wise Soul Stay Blessed
@@brownkelly2033 You're better off, but we'll be alright. Goodluck!!
@@carlterry9686 Thanks for the outlook. You should do well and research for a reliable broker to invest with, from there you can grow your portfolio and see your dream come through
The only loyalty you should have for a company is the paycheck they provide. As long as you get a paycheck, you show up and do what is promised. You owe them nothing else. If another better deal comes up, you take it. If they ask you to come in during off hours or a stressful time, you ask what you will be paid extra. If they don’t offer you what is reasonable to you, you don’t come in. It’s that simple. Don’t think for a minute your personal sacrifice means anything whatsoever.
Absolutely right. The company has no loyalty to the employee. I learned that in first job out of college and that mindset gave me freedom the rest of my working life. I contracted for over thirty years coding. Got the higher pay so I could save much more, no stupid staff meetings, no work politics, freedom to take care of my family, no commute stress (worked from home for 24 of those thirty years), could stop and travel around the world, worked from a cabin in the rockies multiple summers, LOL no complaints not being a corprate clone.
I learned that hard way when I worked for a major airline 30 years ago. During the 1990-1991 recession, the company asked all employees to accept lower pay raises and fewer benefits in exchange for keeping our jobs. We all accepted but several years later, we still got downsized. And for "lowering costs", the executives awarded themselves million-dollar bonuses. Employees are nothing more than an operating cost.
@@patland1762 Corporate Clone. I have to write that song with a DEVO band twist! Thanks.
LOL spend life in alienated, meaningless “work”.
Wish I learned that lesson long ago. The harder I work, the more they dump on you. Hence now, I do whats required and nothing more
I’ve been saving for a long time instead of investing, and right now I only have about $516k. I'm not sure how to make it grow, considering all the inflation, into something substantial that I might use for retirement. I’m just here for ideas
Nothing wrong with dividend investing in stable companies. but i'll advice you consult with an expert if you wanty to invest such amount for retirement.
Opting for an inves-tment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2022
*Marissa Lynn Babula* is the licensed advisor I use. Just search the name. You’ll find necessary details to work with to set up an appointment.
Thanks a lot for the recommendation. I'll send her an email and I hope I'm able to connect with her.
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.
Consider financial advisory so you don’t keep switching it up, Top 3 payers for the month were $OHI, $KMI, and $EDP for an over all payout of a little over $20.. not bad for a 350k portfolio.
Agreed, I’ve been investing in the market for 11 years now, last 4 years with the help of a fiduciary advisor apparently due to the covid-19 pandemic crash. Throughout these years of guidance, I've been fortunate enough to 10x my return as a DIY investor, summing up nearly $1m ROI as of today.
No doubt, having the right advisor is invaluable, mind leaving info of your fiduciary here please? I only invest in 401k for now but particularly interested in diversifying my portfolio and exploring alternative options.
My advisor is Monica Shawn Marti, and her qualifications speak for itself. Most likely, the internet is where to find her basic info, she has a noticeable page for consulting.
Monica Shawn Marti is the licensed coach I use. Just [research the name. You'd find necessary details to work with a correspondence to set up an appointment.
This is my 4th year after retirement I've been following the %4 rule thing, but this isn't really how hard I expected things to be, a lot of people won't have a house to retire with either due to low paying jobs and inflation. I have about $157,000 outside funds in my IRA to invest. Please how do i take advantage of this
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
I completely agree; I am 60 years old, recently retired, I have approximately $1,250,000 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, having a portfolio-advisor for investing is GENIUS! (Alvarez Harry Flectcher) is a Blessing to Me
Wow 😲amazing to see here who trade with Alvarez Harry Flectcher too he is good with and on his job. He has helped a couple of families finances, I thought I'm the only one investing with him here
Talking of been successful I think I'm blessed if not I wouldn't have met someone who is as spectacular Mr Alvarez
Having a perfect manager like Mr Alvarez has save me alot it's high time I do what's is right and recommend him to vervonel
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.
Its unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $287k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
@@hasede-lg9hj Please pardon me, who guides you on the process of it all?
I won't pretend to know everything, though. Her name is Vivian Carol Gioia but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.
Thanks a lot for this recommendation. I just looked her website up, and I have sent her an email. I hope she gets back to me soon.
@@hasede-lg9hjscam/bot alert
As a nurse, I regret not working at a VA hospital. Best plan ever if you want to retire in 20 yrs with health benefits. That's HUGE!
An ex girlfriend became an RN about 12 years ago. I pushed her to go to school at night and she made it. I then told her take a job with the state, fed, VA............she wouldn't listen.
She's now about 48. Knocks herself out in a nursing home.
Yep. 31 years at a state university hospital and I was able to retire at 52 with a good pension. I purposely stayed there in the same job all that time for that very reason.
I wouldn't bank on that. My father put in twenty-two years with the airforce and another fifteen with UPS. He was able to retire with basic comfort and basic health care but had to put in closer to forty years, not twenty. He was born in 1932 so what do you think the chances are for a person born later? I was born in 1967 and don't see how because even with two incomes are we able to save a little, not enough though.
You might be interested to know they cut his health care more than once during his retirement.
@@georgeedward602 25 years ago I had nothing but a big mortgage, car payments, and a whole lot more stuff. I traded the house for a cheap $91K condo in 2002, the next year I bought a second condo. I got rid of car and bought a '91 Honda. several years later I paid off the second condo early. I now get $1600/month for it. I still drive a Honda, 2002 accord. I haven't gone on any vacation trip since about 2000. I shop only in goodwill, aldi & walmart. I do spend money on good shoes, Rockport.I got tough and created my own pension. I bought land 3 years ago for $525K, now selling for $940K. When I got tough & serious, I reversed my mistakes. I enjoy my clean old honda. I enjoy my smaller condo. Only 1 bathroom to clean. I have whatever I want. I don't know your life or situation but I just see many people around me complain when they take expensive vacations, buy cars for 30K, 40K, 50k, when I guy a good one for $3.5K. I learned from my Indian friend. Very thrifty and they're happy. The less junk in your life, the happier most will be.
What I believe, whether before or after retirement is that it's never too late for a good in vestment, and note that diversification is key. That is why I've got my interests set on multiple key sectors based on projected company growth and performance. They range from the EV sector, renewable energy, tech and health.
It’s possible to produce outstanding growth in portfolio diversification in a short period of time as long as you do something different from the vast majority and stay consistent with it.
Yeah true, in vesting in good company stocks is a great idea and a good tra ding technique or system put in place would guarantee you many days of success.
Its makes me feel amazing and a bit achieved since I started in vesting shortly before retirement, monitoring my portfolo performance which has grown exponentially to a million bucks, now I understand why experienced experts make enormous returns from the ever unstable markets.
@@callumfrank So do you have anyone that helps you achieve this steady but guaranteed growth in your portfolio? I mean growing to a million is very achievable but you need to be very well versed and knowledgable about what you are doing.
@@weicaihon Yeah I do have someone. A professional that has got accurate and reliable strategies, backed with proficient making resources and qualifications that ensure my gains every month
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
that’s some interesting numbers, mind revealing this person guding you ? he/she must be a seasoned advisor
Finding financial advisors like vivian jean wilhelm 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.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
This first aired in 2006. I wish they would update a lot of these type of documentaries because so much has happened since then especially during a pandemic.
As I near retirement, securing the stability of my 401k after the tumultuous year of 2022 is of utmost importance. I've heard stories of investors achieving up to $270k in ROI during this ongoing market downturn. Any guidance on how to improve my ROI before retirement would be greatly appreciated.
There are strategies capable of delivering consistent gains irrespective of economic or market conditions, but these are typically implemented by seasoned investment experts or advisors.
For near retirees, having an investment advisor is the way to go. I've been with one because I lack the expertise and emotional fortitude for market ups and downs. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks realise
Could you kindly share the contact information for your financial advisor here?
I work with "Monica Shawn Marti" and we've been working together for almost four years and she's fantastic. You could pursue her if she meets your requirements. I agree with her.
Thanks a lot for the recommendation. I'll send her an email and I hope I'm able to connect with her.
Thank you. Just what I needed to watch. My hubby and I are directors of our farm business and own property, plus small pensions. I am nearly 52, hubby is 55. We have started to save to retire from the farm, and possibly live on rental income, I'd really appreciate you go LIVE and talk about how to earn passive income online and retire comfortably, let’s say $1M.
consider financial planning
It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into financial advisors for a strategy that suits your timing.
I totally agree, I'm 60 and newly retired with about 1.2 million outside retirement funds, no debt, and very small dollars in retirement funds compared to my portfolio balance over the past 3 years till date. tbh, the role of the invt-advisor can only be overlooked, not denied. just have to do your research in finding a reputable one.
mind sharing info on the adviser who assisted you? been saving for pension since age 18 - company scheme. along the way I hit higher tax, so I added to my company pension with a SIPP (tax benefits) I'm 46 now and would love to grow my finance more aggressively, there are a few cars I still wish to drive, a few mega holidays, etc.
The advisor that guides me is Eileen Ruth Sparks, most likely the internet is where to find her basic info, just search her name. She's established.
I would love to see an updated version and interviews of this documentary.
skid row
@@caseyslastgram1733 Lol. Oh shit, I got a good chuckle out of that. Thank you.
Judging by the homeless crisis in America today, you're spot on.
Check out “The Retirment Gamble”. It is essentially a follow-up to this film. Also from Frontline. It’s fantastic.
The impact the housing crisis had to pensions propped up by mortgage backed securities almost makes this story look miniscule. These stories combined is almost too much to fathom.
@@careducation2349 thanks! 👌🏽
I wish more people would watch PBS. Amazing content and insightful as always, thank you.
Doing easily accessible documentaries before it was “cool”.
Too liberal
@@bruced.370 you clearly aren’t watching the same videos as everybody else. It’s Journalism at its finest.
@@bruced.370Lol. "Too liberal"? Why, because it's truthful?
You are right. I get all my news from PBS. I never miss the news It is so educational and has a lot to offer. I never miss Frontline. Always on point.
I'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.
Having a coach is key in a volatile market, My advisor is “Deborah divito welch” You can easily look her up, she has years of financial market experience.
The earlier you start learning about investing, the easier it will be to pick it up. Financial professionals are difficult to choose and costly to keep, so it is best to manage your own affairs whenever possible.
@@akirakrusemark Investing should be taught every year beginning in grade 7.
people who need to worry, don't. and folk that don't need to, do
better is enemy to well
The 1% of rich Americans think of how to invest their money to increase their wealth during the recession. While the 99% of struggling hard-luck Americans think of how to survive without food and daily necessities in the recession and the coming hyperinflation. I am just about to make my first index fund purchase via vanguard. I intend to invest long term. just getting slightly stuck on how I balance my percentage portfolio between equity vs bonds. Low risk is good for me. Any tips
You are absolutely right ,firstly I believe money in the bank is not money because it is bond to inflation and losses values overtime, You have to be well disciplined to achieve success and save before you spend Lastly success does not happen overnight it takes time, dedication and self discipline
money is a liability, not an asset. You have to exchange it for assets that represent real VALUE. Real estate - properties for rent. Stocks (dividends). Bonds (interest), funds, REITs (interest), intellectual property, The aid of an institutional or basic financial advisor's cannot be over expressed. I started saving and investing in 1989 at the age of 20... I am 54 today and have 2.2 million in my retirement account, 135k liquid and I trade securities with 50-55k
I'm bombarded with the don't sit on it during the inflation, I wanted to jump in 8/22 and did nothing. So far this year I think I need to get my feet wet but I stopped listening and taking financial advise from UA-camrs, because at the end of the day, I end up with a bunch of confusing stories. Have you always had guidance?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
I’m fortunate to witness my grandpa live till he was 92. He retired at 62, and for 30 years lived off of social security and VA. For the majority of my grandparents marriage my grandma never worked and still lives at the home they bought 50 years ago. Both my parents are now 65. Mom just retired but is definitely worried about money. My dad said he will never stop working. Such a drastic difference from the Silent Generation to the Baby Boomer Generation. As a millennial I wonder what my retirement will look like?
Don't wonder, my friend. Research well, and start saving and investing now.
@@GladysAlicea thanks, I’ve been trying my best. I can honestly say my investment account return is 8.8% YTD, and 9.5% last 10 years. I decided to take control and manage my retirement. I’ve made mistakes but I’ve educated myself. With that education I predicted, planned, and acted rather than just responding emotionally and riding the waves of the economy.
Keep retirement overseas as an option. My wife, a local, and I added a second storey of 95 square meters (1,022 sq. ft.) to her crib for $75,000. We doubled the size of her house. Mortgage per month -- $00.00. Property tax per year? A crushing $300. Beats the hell out of the $3,800 property tax I pay on a 1,019 sq. ft. place I own in San Pedro, CA. I tell wannabe retirees: GET OUTTA DODGE! BTW, excellent advice by Gladys. You've got time on your side, so you're ahead of the game.
You won't have a retirement unless you're making 6 figures with a 401k and wroth IRA (unless you're a government employee).
@@Ryan_4_U Nope. S&P 500 index ETF is the way to go. Learn about Warren Buffett.
My retirement account has gone down by 13.7% in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate peace? I don’t want to fail after 42 years of working hard.
If you want to rebuild your retirement by yourself, without the help of a partner, I will tell you it is near impossible. Even NewRetirement and co can’t do the job of an FA with expertise, a large following/client base and experience. Vet and hire one and begin to develop a rapport.
How can one get to interview advisors? And what questions should you ask?
You gotta do due diligence and use discretion. I work with CHRIS RYAN STEWART he’s a big timer in New York w/ over 60m worth assets under management
CHRIS RYAN STEWART
GOOGLE the name
I have seen advisors and commentary on them but not one that looks this classy yet phenomenal. I set up a call. How soon should one expect feedback? I am looking to make better decisions this new year.
The 401k is good, because retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million. So it really does.
We were traveling in the same direction, my wife and I. I withdrew my money over the past two years and invested with her wealth manager. I won't be able to match her earnings over time, but at least I make more. Haha.
Asking for advice or assistance from a consultant or investment coach is the best line of action if you lack market understanding. Even though it sounds cliche or apparent, talking to a consultant has helped me stay afloat in the market and increase my portfolio to roughly 65% since January. That, in my opinion, is the current most successful strategy for breaking into the industry.
Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
Having an advisor is essential for portfolio diversification. My advisor is “Kaitlin Rose Sternberg” who is easily searchable and has extensive knowledge of the financial markets.
thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
I'm glad I became a federal employee 35 years ago. Everyone laughed at me for taking less money in exchange for security, but I can now look forward to retirement.
Well, never saw a State nor federal employee dies of starvation or become homeless. My brother retired from the State of Ohio with a pension nearly the same of ending salary with same benefits. He got a hell of a deal with High school education, but was a conscientious worker, he earned it. I'm 64, still working because I like it, I saved a good amount into 403b and IRA, plus I'll have SS, I'll be okay. I encourage the young I work with to get into 403b for tax advantages and the free organization contributions. Most piss away $100 a week at Amazon or Walmart on cheap plastic sh*t made in China 🇨🇳. It will end in landfill in less than 2 years.🤯😡
Punchline is you probably got paid more than the private sector.
@@karley1548 Nope. I could’ve made lots more in the private sector than in the large state university hospital where I worked but I stayed put for 31 years and retired at 52.
My gov pension is reduced quite a bit by health insurance premiums
The question - will your pension cost-of-living increase keep up with inflation?
Rip John Bogle. He was one of the few honest people in finance.
Awesome guy. Great book
@@BusArch42 which one? My favorite of his is “Enough”.
@@darylsmith9318 the first book I read was his classic mutual funds book. It’s still my favorite
We so need a 2022 update. Between the 2008 recession and pandemic it's been a mess for sure.
2006 when this was recorded was a long time ago..
Just imagine retiring as a registered nurse, using all your income/salary to pay rent and tax without any good investment or means of extra cash, tending to leave your profession/job that has been part of you for many years with no good funds. How will you cope?
I highly recommend Stephanie Renee, she is my current trader and her strategies are working perfectly well 💯
I'm from Canada how do I go about this?
Any specific guide?
My only regret investing with Mrs Stephanie Renee Anderson is not start-up earlier like my colleagues. I make more money investing with her than I do from my job.
My account keep running with huge profit of less than $137,000 now.
My first investment in my portfolio was in the forex market with $1870. With Stephanie operating on my behalf, the portfolio balance is currently $17017.
I am at the beginning of my "investment journey", planning to put 85K into dividend stocks so that I will be making up to 30% per year in dividend returns. Any advice?
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.
The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
NICOLE ANASTASIA PLUMLEE is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
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 remember Suzy Orman saying "The best thing you can do for your kids is for you to be independent in retirement." If that means not paying their college or going to a lesser college...do it. And live below your means if you are doing well. No credit card interest, no car loans. Don't take a home equity loan unless it's an emergency.
Cut out cable wifi internet just use the internet on your phone
Also live simple people today in my mind don't live simple. My wife and I live simple we have lot every thing in the last 11 years. Cut out all the extra stuff. So what if you are not keeping up with every body. You need to take care of your financial stuff for yourself. Then you will be better off.
4 years ago, both my wife and I were retail workers. Over about 3 years we had given our youngest almost $20K between car and school and she was trying to guilt us into give "way" more $$. I finally said, "your mother and I have to survive TOO". And we shut her off. Kid will find out about reality when they get older and find out $$ doesn't grow on tree. if only our government could figure out the same. And finally, I think too much help is detrimental to our kids.
@@Hunterhunter-ir9nz 1000%
@@Hunterhunter-ir9nz I will make sure my daughter finishes her college education so she will have a better chance in life, not teach her about survival without the proper tools.
I'd be retiring or working less in 5 years, and I'm curious how others split their pay, how much goes into savings, shopping, or investing; I earn roughly $250K per year but have nothing to show for it.
You can invest some of your earnings in stocks with market-beating returns and shares that at the very least keep up with the market over the long term. I urge that you seek the advice of a broker or financial counselor for a successful long-term investment.
Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
@@ThomasHeintz wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
Elise Marie Terry is my portfolio-coach, I found her on Bloomberg where she was featured, I looked up her name on the internet. Fortunately I came across her site and reached out to her, you can verify her yourself.
@@ThomasHeintz Thank you for this tip. it was easy to find your investment advisor. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
As a soon retiree, keeping my 401k on course is my top priority. I have been reading of investors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated.
The current market might give opportunities to maximize profit within the short term but to execute such a strategy, you must be a skilled practitioner or be working with one.
@@JacobReynolds-t7v True, initially I wasn't quite impressed with my gains, as opposed to my previous performances, I was doing so badly, that I figured I needed to diversify into better assets, I touched base with a portfolio advisor, and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
@@KarenDuncan-o5s Could you kindly elaborate on the advisor's background and qualifications?
@@BarbaraLouise-i3r “Victoria Carmen Santaella’’ is the licensed fiduciary I use. Just research the name. You’ll find the necessary details to work with a correspondence to set up an appointment.
@@KarenDuncan-o5s I just ran an online search on her name and came across her website; pretty well educated. thank you for sharing.
Bankruptcy is supposed to be a help to companies struggling financially. But today it seems like business have just made it a part of their long term business plans like it’s a normal part of business.
That’s unbelievable and unacceptable!
The Puppet masters program 😳
Then they get more and more tax cuts.
More reasons not to pension
And who is to say United, and others couldn't pull this C11 BS again to further "restructure" the company. May all lawyers burn in Hell.
No, it is normal Capitalism. Go ahead, vote TRUMP! Good luck.
I knew from the time I contracted and was diagnosed with ME CFS at the age of 40 I really would suffer in my years past 65. Do you know how fortunate the rest of you are. My family choose not to believe in my illness. So here I am. Cherish what you have.
I do understand. I have fibromyalgia
Planning retirement has never been this confusing! First SVB, then Signature bank and now First republic, these are all the signs of yet another 2008 market crash and recession 2.0, so my question is do I still save in the United States dollar, or could this be a good time to buy stocks? So I’m left wondering what 2023 has in store for us investors, I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here
Everyone needs a different stream of income , unfortunately having a job doesn't mean security due to the high rate of tax , one needs to move ahead their expectation, I would recommend refraining from investing in Forex/stocks for now. Instead, it would be prudent to consider retaining a portion of your assets in gold. Alternatively, seeking advice from a financial advisor could provide valuable guidance in this
This seems like the worst period. Even the markets are very unpredictable. started investing recently when the market prices were a bit high ,today i am more than 60% down
Having an investment advisor is the best way to go. Based on a direct encounter with a CFP named Kate Elizabeth Amdall, I can say with certainty that their skills are excellent. She helped raise over $580,000 in 18 months from an initially stagnant portfolio of $150,000
Fantastic! Can you share more details?
Can't reveal much info, she is the shrewd advisor responsible for my portfolio success, it's only right you look her up and confirm yourself.
My husband is just a few years away from retirement and I have at least 10 more yrs. I know we haven't saved enough money. I have started the process of reducing our debt and paying things off to lessen or burden.
You are not supposed to be in debt when you retire. That's one of my main goals. Good luck
Great idea
Wow, and this was in 2006, pre-Great recession and pre-pandemic. I'm sure things are much worse now.
We need update
Without a doubt. In 2008 we lost almost all of our 401k. It was just now getting back to where it was when now the pandemic and inflation has caused us to lose again. Also with inflation the dollars we do have are worth less as they have a smaller buying power. We are losing sight of retirement again. Frustrating as hell. We followed the rules to prepare for retirement but due to circumstances outside of our control we are behind.
I thought the same. I figured this was a current doc until I say original airdate 2006!?! Wow.
@@browneyedgirl4637 did you sell at all? Did you continue to make contributions during the dips? I get the frustration, but if the NASDAQ is 10x what it was in 2008, and the S&P500 is 4x. I only started saving in 2009, but saw great performance with little thought/analysis. I’m not doing so well now, but that’s part of the business cycle (ups and downs).
The closer you are to retirement, the smaller the percentage of your funds should be in stocks.
@@finejustgivemeaname Not everyone trades stocks tho
I'd be retiring or working less in 5 years and I'm only curious how people split their pay, how much of it goes into savings, spendings or investments?? I earn around $165K per year but nothing to show for it yet
Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
Thats true, I've been getting assisted by an investment coach Helene Claire Johnson for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
Thats quite Impressive! can you share more info?
Most likely, you can find her basic information online; you are welcome to do further study.
I was warned by elder mentor. They told me to have a diverse portfolio. I have a rental property that pays me a monthly income. I have a pension from the Military. I also have a Roth IRA & deferred Comp. I am also working on another pension from my 2nd career, and I am also eligible for Social Security after paying into it since l was a kid. When my time comes God willing l don't pass before l retire. l will have multiple income streams during my retirement. My mentor was a factory worker who put all their eggs in one basket and lost their retirement when the company folded and moved to Taiwan. I owe them a lot for taking me under their wing and teaching me how to prepare for my retirement when l was only 17 yrs old.
I was taught early a cornucopia of investments I retired at 60 and enjoy a very luxurious life,
I wish my husband would read this advice because this is exactly what I'm doing and trying to get him to understand but he just keeps shouting "come on XRP!" God help me! The wishful thinking instead of strategic planning has my mind blown! I'm preparing without his help.
@@findmeanewplanet Show it to him and show him this documentary. Maybe it'll help. Maybe one night play this documentary on your TV and have dinner ready on a TV tray. Don't say anything to him just watch it over a nice meal. He may passively listen to it but chances are he'll get something out of it.
@@jusliving7977 Good idea!
Looks like you are doing well for yourself. I don't think you will need social security. If we can take it and disperse it to those who don't have as much than everyone can retire.
A government that doesn't take care of the basic needs of the people is worthless to the people. Seniors and children working menial labor is a disgrace.
Yeah, we all know North Korea's government is shit.
well fed and educated people are any country's best asset and hungry ignorant people are a great liability
You belong to the USSR. Just that you need a time machine to get to your utopia.
How about you taking care of you? Relying on the government? LOL Ok comrade.
@@maestrovso do you have any substance to your argument or just a blind dismissal of anyone making a moral argument as "pft commie?
Outside of the US Banana Republic corporate pensions are kept separate and shielded from bankruptcy
I plan to retire at the end of 2022 at 57 after 36 years in Telecom as a sales engineer. My wife will retire in October 2022 and she' s loving life! But walking away from a good income stream and building the nest egg to living from the nest egg is a scary proposition, scary to stop saving and start spending.
God places great things on the other side of fear. My advice, don't wait till the end the year. I just attended a funeral of a guy that retired in December 2020 at the age of 62 -- Life is short. Live it on your terms. Take the time to learn about passive income via dividends & real estate, index funds, automating investments, budgeting, etc. you'll be very happy you did
@@lylahthompson2169 I’m thinking of investing into stocks esp index funds .When you invest into index funds you're essentially investing into the economy as a whole. Because you're choosing to own a little piece of all the most successful companies in the country/world but how are we going to achieve all that given that the market has being a mess most of the year?
@@mialangley2388 There are lot of ways to make a killing right now, but such high-volume near impeccable trådes can only be carried out by real-time experts with ISDA Agreement . I began with " *Katherine Duffy Burke* ," and my gains were guaranteed. In such instances, I would always advice you get an expert to guide you through unpredictable markets and simply provide you with indicators and tactics for determining when to join and exit the market
@@willlategan7558 sure fnancial-advisors are outperforming the market and raising good returns but some are charging much, seeing that their services are currently in high demand more than ever....seems more like taxing to me
@@aubreymcgovern9467 Yes they can be positively impactful to an individual's portfolio. Katherine strategy is transparent allowing total ownership of my tråding account and fees are very reasonable in comparison with my ROI.
Salary has not kept up with inflation. Cannot save when you are living paycheck to paycheck.
Fr! Was pointing that out to someone earlier. Dude started working in '75 making $2.10/hr. That equates to nearly $12/hr after accounting for inflation in todays money. When I started working in '06 I made $7.25/hr, which doesn't even equate to $11/hr in 2022 money. What the hell is that shit?
That means you are living above your means
I bought / sold two apartments in NYC, and was treasurer of one coop. So I saw many financial applications from prospective apartment purchasers. Most were middle aged, professional people earning very good money. Most had very little savings and a lot of debt. Still paying college debt in their 50s. Divorce had wiped many of them out too. I was shocked.
‘Big hats, no cattle’ but damn if they don’t look like a million bucks when they step into their fine European chariots
In 2006: "I think 10 or 15 years from now people in their 60's aren't going to have enough to retire."
Nailed it.
And us people of age (52) with Covet/supply chain issues hit hard let alone the war in ru/uc.
and as of last week talks of raising the retirement age to 65 .. take a look at your 401K now.. not good. 08/16/2022
And what the big guys don't like. people that are layed off with no work have time to do homework,and the baste-reds doint take to account, they cant get rish'er. if people don't work.. (make them money)
Yep, you did nail it.
@@larrbaII meanwhile, you had free public education and obviously squandered it. No matter what, you’d be a l0ser.
The American Dream has become a nightmare!
When this aired (according to the description) I was a just a freshman in high school and oblivious to any of these issues. Now at 30 years old and understanding how America is designed to profit shareholders, I quickly learned early in my career that I value job security and benefits over a high salary any day.
If only I could get my daughter to understand that,...
@@8000RPM. Tell your Daughter to apply for college in Germany. Its nearly free for Americans and the rent is lower for a apt. Ohh and no shootings! health care is less then 100 dollars a month.
You just said it yourself. America is designed to profit shareholders so by stocks become a share holder. Start buying stock in companies that make the things you use every day then broaden out from there.
@@climeaware4814 Thanks, she is a Cum Laud Graduate from a highly respected & accredited college. She has a job with benefits ,which have been discontinued for "new hires". The new hires get higher pay ,but no benefits. She has offers from other higher paying companies. I'm trying to convince her; benefits are a better compensation than higher pay.
@@8000RPM. A relative just got married right away (they had planned to in about 18 months) because when she left her job she found out she had to pay $1000 a month for health care! Now she is covered by her husband's.
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.
45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.
Your adviser must be really good, I hope it's okay to inquire if you're still collaborating with the same adviser and how I can get in touch with them?
She goes by ‘’Aileen Gertrude Tippy’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did
Thank you! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon.
As a millennial, we even have trouble buying our first home and I can't imagine what will happen when we get to our retirement age.
We aren't retiring. Our own government has said social security will literally run out by the time millennials retire. Personally, I plan to just live in my van for the next 30 years. In the first yeary bank account went from $145 to 8g's l so at this rate I'll have a six figure bank account in about a decade.
My plan is not having children, live within my means, keep eating my veggies everyday and start a small business before I turn 40. That should give me a good advantage to live some feaceful years when I'm old.
Buy a 2 family home - Not sure why this is so foreign.
@@anthonybha4510 If you can't afford to buy a single family, then how would you get the money to buy a multi? You still need money to start.
I was lucky enough to live with my parents for a while after college to help pay down debt. I tried to sock away and pay off as much as I could before I moved away for a different job. Not the most fun process, but managed to get a start on loans, savings, and retirement before I had to financially manage a household.
Socially a downer, but financially a big help.
👍 This topic is just as relevant today as it was then, with the exception that corporate greed has had 15 years or so to get even better at stealing the labor of its workforce and ultimately its consumers. Who in their right mind would defend this version of corporate theft? Who in their right mind would allow it to continue unabated and accelerating? Who is in their right mind in this country?
"Its a big club, and you, me and everyone we know are'nt in it" paraphrasing George Carlin.
Yeah I wonder who… 🐘
The people who love 401ks are the people who are benefiting from them. Like Wall Street, lobbyists, anyone collecting seen and unseen (hidden) FEES
You've got to be a little crazy,,, to keep your sanity,,, in this insane world we live in,,,,so being a little crazy ......is OK !!??!!
@@calexprenas yeah, i wonder who-J too?!
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains with months, I'm really just confused at this point.
I believe that diversifying your investments is the safest way to handle it. One way to lessen the effects of a market crisis is to distribute investments over a variety of asset classes, such as international equities, bonds, and real estate. It's critical to look for expert advice.
Indeed, many people minimize the significance of advisors until their own feelings burn them out. After a protracted divorce, I needed a boost to keep my firm viable, so a few summers ago, I looked for licensed consultants and found someone with the highest qualifications. My reserve has increased from $275k to $850k thanks to her assistance, even with inflation.
I need help rebuilding my portfolio and coming up with more effective strategies because of the big drops. where I can find this coach.
NYCOLE CHRISTINA VANNATA is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Great program. Financial literacy is important and should be part of public education from 6th grade on up.
No! Financial literacy needs to be part of education from first grade on!
knowing your rights, etc should be as well, with plenty of examples of when the police pull you over and want to search your car. Or come to your home and want to get the serial numbers from your firearms, etc.
but it wont, b/c the people at the top want the USA to be exactly where it is...Authoritarian.
Tried in my hs. Held 4 free 30-minutes personal finance sessions (w chips & drinks). Sent announcement on weekly news. No students showed up except 9-10 staff members on each sessions.
Few will listen. People’s sense of entitlement will keep them broke. They think they deserve that $10 coffee. They are too good for that $2 pot of lentils but will buy a liter of soda. Can’t afford to save $50 a month but somehow afford cigarettes
@@joyaustin6581 I really hope that some will think about those things and change behaviors.
We are in a recession. It is very vulnerable to a depression.. Most of us have had our savings dwindle with the cost of living into the stratosphere, we are finding it impossible to replace it. My condolences to anyone like myself retiring in this crisis, it gets tougher by the day.
As a fellow retiree lI totally feel your pain, l'd
suggest you look into passive index fund
investing and learn some more. You should have
looked into earning passive income years ago; its
still never too late to get started. For me I hired
an expert advisor for assistance, and following
her advice, I poured $50k in passive diversified
safe-haven assets and its yielded $175k so far.
Nothing special, just proper diversification and a
cut loss and take profit strategy.
@@jasonbutler1149 The crazy part is that those advisors
are probably outperforming the market and
raising good returns but some are charging fees
over fees drain your portfolio. Is this the case
with yours too?
@@adamdiroff4869 Nah | Cant say I relate,
Nancy Ann's charge is minimal and very reasonable
when compared to what I benefit in returns.
@@adamdiroff4869 Investing or trading with an expert is the
best strategy for newbies and busy
investors who have little or no time to
monitor their trades... I will advice you to
stop trading on your own it's very risky. Seek
advice of a professional trader.
I've been a busy 9-5 how open is she to newbie lnvestor like me and how can l consult Nancy Ann?
I think your retirement qualifications is based on what your comfort levels are. I'm self employed with only SS to support me. But at 63 I have no mortgage, no credit cards, no car payments. I'm holding out till 66 & 11 months for the full meal deal. I'm a pro house painter in Wyoming & during the winter/no work, I sell on ebay. Have always lived "poor" but I'm cool with that. And own a perfect painter's house. A 1870 log cabin. Did not plan it, just worked out that way. Was never lookin to get rich, just get by. What I'm thankful for tho is they now make electric snow blowers.
congrats
"Retire with financial peace! Invest in the market to create a steady income stream. Diversify your portfolio, grow your wealth, and enjoy the freedom to pursue your passions. Make your retirement a new chapter of financial stability, growth, and joy - invest wisely and live life to the fullest!"
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or bitcoin and stocks..
I keep wondering how people earn money in financial markets, i tried trading on my own made a huge loss and now I'm scared of investing more…
@@rougeur Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances….
@@face2lune I’m Glad i stumbled on this. Please, if its not too much of a hassle for you, can you drop the details of the CFP that assisted you and how to get in touch….
@@rougeur I get guidance from *Susan Tori Davis* Most likely, the internet should have her basic info..
Start as early as possible. At 27, I got a 18,000 in a IRA, 3,000 in 401k and 7,000 in a HSA. Most people think the amount you put in is important but mostly time is the biggest factor. Starting earlier means I can do the same amount in 20 years instead of doing more than double the amount to catch up.
My company of 43 years was the largest in the world at one time and while the top execs had their golden parachute of 90 million each and the owner made several billion and a 45 million dollar private island off Florida had a deliberate plan to sell off parts of the company and the government allowed him to declare bankruptcy and default on almost 3 billion in our promised pensions so now im still working and going to struggle with the piddling amount the PGBC will pay out…and the owner still has a reorganized online business…now you can guess how i feel about corporate and executive greed …i researched what happened every step of the way…the paperwork was done in Delaware and records destroyed …i could go on…congrats to Eddie Lambert on his coup
Delaware is known for that. A lot of banks are there for its beneficial laws.
Lets go Brandon
Ah, Delaware, the US offshore tax haven of the rich. I'm so sorry that happened to you, but even state pensions aren't safe. They give pensions to Wall Street to manage a guaranteed money loss for valued workers. I worked with trade unions for years, and they had decent benefits, but eliminating them was the beginning of the end for so many. It's disgraceful and criminal to treat the workers who give so much to make companies successful, only to enrich CEO's and stockholders. Our government's just as guilty; we're way overdue for tax reform and an entirely new stock trading laws, including our politicians who get rich with inside info.
@@rachelj4970 You realize a vast majority of these Execs are republicans, right?….
Very well articulated; I wish I had more time for trial and error, but I'll be 56 in October and I need ideas and advice on what investments to make to set myself up for retirement, especially with the looming inflation and recession; my goal is to have a portfolio of at least $850k at the age of 60.
There are a lot of strategies to make tongue-wetting profit especially in this down market, but such sophisticated trades can only be carried out by proper market experts...
You still got time. Having an investment adviser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I netted over $340K during this dip, that made it clear there's more to the market that we average joes don't know.
@@wiebeplatt4749 If you don't mind, how can I get in touch with your consultant? I'm almost wrecked to say the least.
@@marianparker7502 My advisor is 'Susan Agnes Hancock'' In terms of portfolio diversity, she's a genius. You can glance her name up on the internet and verify her yourself. she has years of financial market experience.
@@wiebeplatt4749 Thanks a lot, I just glanced the investment Advisor you mentioned and i'm super impressed with her credentials. Scheduled a session with her after writing her.
I guess I am lucky to be retired at 52 last year, moved to Florida, and am living comfortably.
My first job after college was in 1973. I worked for a large electric utility company. I remember one day seeing people sitting at their desk and crying. I asked what was going on and heard that the retirement funds had been mishandled and the fund was basically broke.
I was in my early twenties and didn't understand the problem. They said that many were nearing retirmenet and they had virtually nothing for retirement. Since many of the people were in their late 50s or early 60s it was little chance they could keep a job. People didn't hire elderly people at that time.
Companies used to make you wait before being eligible to join for the retirement fund. You couldn't transfer this to another company either. Then they created an IRA account. You could keep and manage your own retirement. Eventually the 401K came into effect. You get to manage your own retirement investments and it stays with you. What's the big deal about managing it yourself? Doesn't everyone also manage their own money anyway?
Be thankful that you actually have retirement money that stays with you rather than what happened years ago. The problem with most peo[le is that they don't know how to save money or they don't know how to plan for the future.
And not everybody can be an engineer, not everybody can be a cement layer, a police officer, a school teacher k12, so glad you have the skills, however I still am grateful for everybody who takes and works at a job I either don’t want to learn or can’t do. By es, I can read budgets and save money. And health wise I am working well past my FRA because I can, saved my house in an early divorce, paid it off and put 3 kids through college while I was owed $110,00 in back child support who is still paying…and he had a B.A. and a polycrystalline officer out of state in Atlanta PD and Tampa. But I do not want to drive a truck or work for United Airlines. Every working person has a different set of skills.
"didn't hire elderly people" then? They still do not.
@@balozhende5727Nobody wants a 67 year old with arthritis, uses a cane, and can barely manage stairs.
@@mariekatherine5238 Not everyone at 67 is like that. So other cultures value wisdom and figure out where to use that. (for example the Far East) Anyway, if you never traveled there for years to that area of the World, you may not know that and that is certainly understandable. I have thrived in the USA and in foreign countries as a professor for years. Not all work is lifting heavy objects.. Be sure to have a nice day. I bet you will most likelynot be using a cane at 67. Either way, YOU are great. I am sure you will always be a valuable employee. Take care.
They still don't hire elderly in good paying jobs in droves
This video breaks my heart. I feel like my wife and I are going to be okay in retirement - not rich, but I have a lot of sympathy for these folks who will have to work during their retirement years. We have to break this chain.....
The scariest horror movie is a documentary on retirement.
Retired in 2015 at 56. My days are riding motorcycles and playing with grandkids.
Good for you 🙏🐶👌😀
As it should be.
Financial retirement was the last thing on my mind when I joined the USMC in 1974 at age 18. Even back then, I was putting some of my money into savings unlike so many of my fellow Marines. Now, decades later, having my military retirement pays all of my monthly expenses.
You are an example of how to do it right.
Sadly, Gen Z doesn’t want to join the military. All services are having a hard time recruiting them.
@@tonylevine2716the current benefits suck, the kids don’t want to go into an unending war that only benefits corporations…if they can even make it past the enlistment physical.
I've kept much of my savings in cash for safety, but I'm unsure if it's right for retirement. Contemplating investing $400K in stocks, as I've heard investors can profit in tough times. Unsure about my next move.
It's impressive how much you saved during your working years, a feat not many achieve in a lifetime. Now that you're retired and rely on your investments, it's wise to redistribute your capital to mitigate risks during market fluctuations. Consulting a financial advisor can help simplify this process.
Yeah, I’m also closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who have been investing for many years.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
Rachel Sarah Parrish is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
I looked up her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me.
Both Gramfathers died in their 50s. Dad died at 57. I'm 45 with two strokes under my belt. I ain't worried about my retirement funds running out.
Ouch!
Kinda demented but a good point.
@@jrstrange123 Everyone comes from a long line of dead people. Jim Fixx couldn't even jog his way to 53....
Old workers are doomed! I have a 403 b I started to keep an eye on it currently.
I'm at the cross roads of moving it to a bank in my IRA just to save my 403 b.
I'm currently watching it every week. It's very scary.
@@xavierclayton9990 ur right!
A similar thing happened at Eastern Airlines years ago. I was a kid so I don’t remember all the details but my godfather lost most of his pension and ended of dying from the stress of it all
look into what happened to A & P pensioners.
Eastern was so bad that Florida have extra months of unemployment due to the size of the company and workers affected
This is the reason 401k is a better system
The U.S Gov't. made promises to the Indians on PAPER TOO!
I have told my kids to invest 50% of every dollar they receive into VTSAX. My 17-year-old opened a Roth IRA when he turned 15. He has around $6500 in there. He also has around $2600 in a UGMA account, as does his 13-year-old sister and 11-year-old brother.
I also opened Fidelity Youth Accounts for my 2 oldest. The bottom line is, take at least 25% of every check you earn and invest it and you will be fine. I prefer pre-tax only because you never miss the money.
Good deal
Employers expect you to be grateful that you have a job but your earning's doesn't buy anything but survival .
🤣🤣 survival? Hell people are lucky if their earnings can afford survival nowadays...
Bam!
A young man I met when I first started freelancing online after resigning over this crap at IBM had a great way of putting it. He said he never had a J.O.B. and never intended to have one. J.O.B. = just over broke.
You know you can quit at any time
@@uwone7778 what an amazing take, why didn't the rest of us think of that?
I'm 75. Retired from 40 yrs bedside nursing in ER/ICU.
I'm taking care of a friend's mother who has advanced
Alzheimers and I'm on duty
12-16 hrs per day. I have to work at night if shes having a bad night or if she decides it's a good time to rearrange her bedroom furniture.....🤭.....or paint her bedside table w something thick, brown and sticky......then it's on!!! Not only is it 3 am....the bed has to be stripped, the floors and furniture washed and cleaned w a bacterial wash.
The pt has to be showered,
And nails cleaned underneath....clean clothing because she sleeps in her clothes....the washer has to run 2x for each loadll....its 6 am before you're done if this happens at 3am...🤦🏻♀️
My little condo in Jacksonville is paid off. I've never lived in it.....I hope to one day.....but only God knows if that will happen.
She's 85 and family has a history of longevity. I'm 75;
So we'll see......🤷🏻♀️.......
I've known her for 20 yrs....she hasn't known my name for 6 years. She's spoken word salad for 4 years......so I had to learn to speak Cheshire cat.....poor lady was a business tycoon
And now she steps behind me if strangers approach,
And says quietly under her breath, "Crystal"😢(with fear in her voice).....Crystal is her daughter. I wrap my arm around behind me and around her and pull her up next to me to comfort her...
"It's ok, Mama, no need to be afraid....they're nice people."...
Once in a while she'll ask in clear english,
"Are u going home tonight?"
And I tell her.."no way, Jose,
I'm staying right here w you"
And she'll say, "thank you."
So yes....I'm 75 and still working.....but after 6 yrs,
It's a labor of love, and I just pray God keeps me strong while she needs me....💝
You are a rarity and an angel. That disease is atrocious and I hope for her sake and yours she moves on soon. After that you really should put yourself first as you have already paid your dues not just with her but that 40 year career of yours, Nursing takes a lot out of you mentally and physically especially after that many years.
Same thing happened to my now long deceased Auntie, may she rest in peace.
She was an airline stew for Delta, then retired...soon after that Delta went into bankruptcy, and she lost it all.
How much of that money was taken by the CFO or CEO of all these companies I guarantee they planed on doing this in a board meeting then gave themselves a raise. Don’t forget they kept some for campaign donations to protect this process
To big to fail.. and nobody to jail
When they stand before the Most High God they will have to give an answer to why they did what they did As much as you have done unto the least of these my brethren so have you done it unto me says the Lord Jesus 🔥
I'm so glad that information is more available now. I invest in my 401(k) in the absolute cheapest whole stock market funds and bond funds. Basically the S &P 500. There are lots of choices that are offered but when you look at the fees and the advisor fees. OMG! I get emails at least once a month asking me if I would like to sign up for active management with an advisor and to diversify my portfolio more into the funds that have double the fees. I click NOPE every time. I'm not going to pay double the fees and pay someone to move my money around while collecting management fees. I rebalance once per year based on my age. It's actually not that complicated.
Way to go. I do the same thing. Buy an index fund and call it a day 👊🏽
Agreed. There is a mountain of information on the internet, UA-cam, books, etc, one just needs to spend time studying the system.
Good job. Just takes a little knowledge to manage your own portfolio. Stay with low cost diversified index funds, like the S&P 500, or a mix with bonds for a lower risk portfolio. There will be good and bad times in the marked, never pull these funds out early...you will do fine.
All sounds good but now who is going to pay for the fund manager’s season tickets and kid’s tuition?
I’m a Carpenter. A nail bending, saw dust making carpenter. Its called personal responsibility. Don’t rely on a company to do what you should do for yourself.. I will have a million dollars at retirement.
My Dad said a hundred times. “Its not what you make, it’s what you keep”. Live within your means!
Although why fully retire anyway? A person needs a perpose in life. When you stop working, you die.
Uh no. You retire to Vietnam, marry a hot young woman half your retirement age, take up hobbies and travel and enjoy every second. Keep bending those nails and telling yourself building Shlt out of pallet wood is satisfying.
I'm 60 years old. I saw this coming 30 years ago. I knew private Corporations more often breech their own agreements with employees. For this reason, I steered clear of Private Corporations and Private Market 401k plans. Instead steering towards Defined Contribution Plans from employer contributing to my own FICA social security contributions. Which compliment each other with both Pension, and Social Security benefits for the retiree. Private Corporations break employee promises for hedge funds and golden parachutes of the rich. The hell with private corporations
Very wise and spot on.
Corporations can take your pension not your 401K
@@antionygrilmady9044
Not Defined Contribution. Your statement about 401k its too late. It already happened in 2009.
Defined contribution plans are 401k and it’s variants
@@chowsquid
No. Defined Contribution variant 403b is very different than 401k. Depending on your Employer, and Union agreement with employees. Employers sign into contract with employees to match contributions into the 403b account with each member under joint agreement contract. While 401k accounts have no such features.
The greed of corporations is bottomless! Unbelievable that once again the tax payers have to foot the bills to make up for corporate greed. Unbelievable that there are so many loopholes fir corporations on the back of their employees. I sometimes wonder how these CEOs can still sleep soundly at night.
Narcissists have no conscience.
Greed!!! LOL, yeah keep yelling at the clouds about corporate greed. I'm sure they'll give some back when you do.
tina00017, you are 100% correct.
This is capitalism by design
No, it's totally believable. The system works as designed.
As for how CEOs sleep, hah. I bet they sleep like babies. People who aren't psychopaths don't get promoted to CEO.
Hospice RN, here. Working until I'm 70 because my adult children will have to do the same. Healthcare, inflation, and the fact I waa told to plan to live 95, makes me feel terribly unprepared. My 88 yr old mother has advanced dementia, and all her savings are nearly depleted in nursing home care. Her mother lived to 99. So, essentially, medicaid will pay her nursing care soon. Plan for elderly care...it runs 8 to 12 thousand dollars a month, at least. And that's today's prices.
This almost happened to my mom. She retired a year early as a teacher when Chris Christie was governor. If she had waited one more year she would have lost 40% of her benefits. She passed away earlier this year but she loved having a good pension.
My condolences, Demetri
@@Ganstagrillz10 thank you
Sorry to hear that your mother passed. Very difficult time.
You are correct, pensions are a promise, not guaranteed to be followed through on. F promises. GIVE ME CASH!
Thank goodness I went back in the Army Reserves after a 15 year break and at age 41. Stayed until age 60 and now I have a decent pension. Hopefully the government won’t cut that.
L
I mentioned to a recruiter that I was a veteran, one I ran into at some fast food place, and he leaped to offer me the chance to return to active duty at my old rank when I discharged. I thought he was kidding...because at the time I had been out of the military for more than 17 years, and was over 40 years old.
My dad was in for 30 years. So far they haven't made any cuts to him, but Tricare is getting harder to use and I think more expensive for spouses and dependents. I dropped off my parents' insurance long before I needed to because it was twice what I could get at work. The coverage was worse and my parents would have rather me use that money to pay off loans, but financially it didn't make sense to pay for theirs.
I have a feeling they'll continue to gradually cut benefits as the years go on and nickle and dime people.
Have you watched firefighters and teachers funds? How about looked at SS fund? Good luck. I hope you don't get cuts.
@@Erin-rg3dw yep. That's cuz tricare is a private gvmt contractor. Keyword there is private. They are beholden to their shareholders. Not their customers.
You can retire on very little as long as you have no debt. Much better of course if you have a nest egg but as long as you keep your expectations in keeping with your financial situations. I wasn’t able to start saving until my 50s and focused on paying off debt and doing what I could to get all maintenance on house and a car prepared for 20 years. So far so good.
It's interesting that this was aired in 2006. This was the first year I started contributing the maximum allowed to my 401(k) plan. My employer matched my contribution. In 2006, I had saved about $50K for retirement. Now I have about $1.6 million in retirement savings. In my opinion the critical factors are:
1. Contribute the maximum allowed
2. Stay diversified (60/40, equities/fixed income)
3. Educate yourself on the basics of investing, for example, some mutual funds have 2% fees, others (Vanguard for example) have fees of 0.06% (edited percent, missed decimal point in original post). This makes a huge difference over time.
4. Do not take lump-sum withdrawals at retirement. Stay invested.
5. Pray that the stock market rises.
I was going to say basically the same thing, but you said it better than I would have. I do think that the 60/40 spilt is usually appropriate near the end of one's career, but for earlier the percentage of equities should be much higher because over time it will yield better returns. For a person who can't contribute a large amount per paycheck that is essential. And Vanguard index funds have fees more in the 0.02% range. And you left out one thing: DO NOT touch the money in your retirement fund for any reason until you retire.
I'm doing the same thing you are. It comes down to discipline and self accountability. I will get a pension from the states of NV and PA. We max out our Roth IRAs and the wife's 401k. We do side investing mutual funds. The key is to live below your means and be a steady invester.
#5 is really the only one that will help any of us.
Congratulations, you were smart! Step #5 is the one that makes all of the other steps worthless if God ignores your prayers! $1.6m may sound like a lot but it isn't in an economic system such as ours. Capitalism and corporate greed can still destroy your wealth at any moment! I hope that doesn't happen for you. 🤞🏽
@@patrickmorgan4006 ...and pray nothing catastrophic happens to you that wipes out those funds!
My parents or me did NOT have to save for retirement because we were told that we were going to get a full annuity pension at 65 years of age.
It is so very hurting that companies treat employees like they do.
companies do not exist to take care of their employees. they are not moms. companies exist to make a profit for their owners, which can be you if you buy a share. employees must care for themselves.
@@DrSchor yes that is a cruel reality. I imagine if all employees in a company because of mal treatment decided to quit and no one would want to work in it. Would the company survive. Companies exist because of their employees. Would the owner do all the work workers do?????
One positive change is that we now have far more information about investment strategy and there are “set it and forget it” options available. More companies are adopting an opt-out policy rather than opt-in to encourage participation. It is also pretty important to be debt-free before you retire, but that is not a 401K issue.
How much investing did you learn in High School?
I immigrated to the U.S when I was 25 for graduate school, once I saw the 401k plan I knew I needed to come up with a different alternative so I started buying real estate. Today, I have 10 units cash flowing really well and values keep going up, I think I will be ok, my 401k isn't doing as well of course.
Give it time. Assuming you didn’t pick the worst of funds, stocks has historically beaten real estate.
Well, it’s now 2022 and these issues haven’t changed much other than getting even worse for regular working class Americans
I'm at 15 minutes in and I'm hyperventilating. original air date: 2006.
I probably seen this already
im at 37 seconds right now and it's bad
2006: do you have enough to retire?
2024: do you have enough to live? Retirement? What is this neverland?
Little did they know that approximately two years later, the 2008 crash would wipe out their retirement funds.
A 2022 update would be fascinating.
It's 10x worse
@@Stoneface_ ! Go On...
This is why you keep working to continuously improve your skill sets. You never know when you'll need them. People and companies can let your down.
First thing to realize when watching this, is that the content is nearly 20 years old (just look at the clip of Elizabeth Warren). The next is to realize is the sign posts of this where visible to anyone who was watching. I am 75 and retired at 60. I live in a third world country (Lao) and look after my family on about $200 a week. It is not difficult as we own our home, tax's are low, health care is cheap, I don't drive a car, and I have a simple life. We have a few acres to grow food to eat and to feed our animals which we also eat. So if you are struggling look at options outside the west, and you will do just fine.
And now we see them moving into their cars.
Where do you live in Loas? You married a native to be able to own land?
@@joehalliday6081 I live just outside Pakxan. Yes the only way to own land here is if you are a Lao citizen. So I will never own it, but as I can't take it with me when I am no longer topside, I am ok with that.
@@joehalliday6081 Leasing is an option for anyone who is just looking for a place to be that is not crazy. These days those places are few and far between.
@@chrisperkins7331 well ive seen Laos being developed rapidly in the last 5 or so years and apparently more on the way. How long have you been there?
Never depend on anyone to protect you physically, emotionally, financially.
buy gold
I took all the saving advice from older people to heart. started saving 15% at 23. Got as high as 40% later on. now at 1.2. should hit 2.5 by 50
I listen to FIRE podcasts and all of these problems seem to me... easy to solve. I don't encounter them in my investing life either. This is the value of financial literacy. If they just opted into their 401(k) asap, chose a semi-aggressive savings rate, chose a low cost diversified index fund, they would be 80% on the way there.
Without disrespecting anyone, this 401K thing assumes everyone has the ability to understand and implement the moves required to manage it.
It's not that complicated. You can also use a financial advisor and pay him a small fee so that you don't mess up. Simple. They have to be a trusted financial advisor with a good track record, word of mouth etc. Just like you need a doctor for your health, you need assistance with managing your retirement money too. Why would anyone do it on their own?
Not only that, but the income to fully fund the 401K every year.
Better than a pension, which are managed by a bunch of people you don't know and who are often unqualified and don't know what they're doing. The dirty secret behind the mythical pension is that most of them are insolvent and have either already been bailed out by taxpayers or will need to be bailed out soon. They are all built on fake promises and the underlying BS just gets dumped onto the taxpayer, usually buried inside giant government bills with "catchy" names.
Just read the stories on here: "well my dad worked for 40 years and then he and his stay at home spouse retired comfortably on his pension for 30 years." Ummm... how is that math supposed to work? So you've got 2 adults over a 70 year period, so 140 years of living expenses. And people think it makes sense that these 140 years of expenses can be funded with 40 years of productivity (28.5%)? Give me a break. Everyone wants to put in a little and get a lot but it doesn't work that way.
Your 401K/IRA/HSA/etc. is YOURS and YOU own it. Much better than hoping your well-intentioned-but-financially-illiterate union reps know how to manage a financial portfolio and then begging the taxpayer for relief when it doesn't work out so that you don't have to eat cat food.
Managing a basic 401K is easy. And if you really can't figure it out, there are plenty of people at your company that can show you. And if you really, really can't figure it out, hire an advisor.
@@snickersimsocute2438 pretty much the same amount of money the company was putting away for you in your pension instead of just giving it to you in your paycheck.
Do people think pensions are free?
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
How can I reach this person?
‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
I checked Aileen up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.
I have always been interested in finance, wealth, and money management. I was a homeless teen and later, a young mother, single, married, divorced, and now, thank God, married again in my forties. I never realized how important it was to finish life with someone, and I’m so grateful that my husband is actually retired military, service disabled veteran, and works for the government. Although I saved for retirement, the money I saved is now money we use to enjoy life together.
It’s not about how much you make, it’s how much you save.