if the idea is to build an income stream to use as complement for retirement, or at any given point if needed, then building a dividend growth portfolio always buying adding to it could be a good and peaceful path. On the long run consistency and perseverance could guaranty the desired income stream goal with little worries.
the idea is to Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions.
Well said, with the help of the an investment advi-sor, I diversified my 62K portfolio across many markets and in a matter of months, I was able to produce over 356K in net profit from high dividend yield equities, bonds, and exchange-traded funds (ETFs)
wow massive gains! my partner recently hinted on going same direction.. what did you invest in, and who is your investment advisr please, if you dont mind me asking? in dire need of asset allocation
My CFA Annette Christine Conte a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
People are facing a tough retirement and it’s even harder for workers to save due to low-paying jobs, inflation and high rents. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire in.
Retirement is a lot more difficult than it was in the past, they say it’s all about balancing your risk tolerance with your long-term goals but it’s more tricky than it sounds. I’m considering speaking to an advisor to help in strengthening my retirement accounts.
That’s surely a way to go!!! I’ve always delegated my excesses to an advisor, since suffering major portfolio loss early 2022. I’m now semi-retired and only work 8 hours a week with barely 25% short of my $2M retirement goal after subsequent investments to date.
Thanks for sharing your experience. Your advisor must be really good, I hope it’s okay to inquire if you’re still working with the same Advisor and how can I get in touch?
My CFA, *Joseph Nick Cahill* is a renowned figure in his field. I recommend searching his name online; you’ll find all his credentials and everything you need to work with a reliable professional. With many years of experience, he is a valuable resource for anyone looking to navigate the financial market.
I retired 14 years ago, my private pension is almost gone. I created a business that fills me with joy & purpose completely different to my big job. I don't earn much, I don't spend much. I strength train everyday, Sleep well, have lots of worthwhile projects on the go and I love being a grandfather. I love forward to my 70s as a continue the good fight against father time. Ageing is a gift and privilege many don't enjoy. Don't complain and avoid Complacency, Comfort and Convonience they make you weak.
Same here. I never got my head around even the idea of a pension. It's a nice chunk every month, but it's not like investing. (My income continues to increase.) And invest in your health. I exercise pretty intensely. Put a TV in front of my treadmill. Huge dividends. Eat healthy food. Don't eat out, don't eat crap. Learn to cook basic tasty healthy food. Huge dividends, butter than money. I"m almost 70, I'm healthier than the vast majority of 40 year olds. What's that worth? I recently paid a financial advisor to go over where I was at. They ran all the numbers and said that I was doing great. My plan was working exactly the way I thought it was. I should've hired them years ago, because arriving at my ;great plan' I made a couple of costly mistakes. The biggest problem is the 'financial advisors' we meet are almost always people selling snake oil. When I asked the people I hired if they were fiduciary, they sent me a document. The other guys all want to sell me life insurance, 'You can't borrow from yourself!' I've been through incredible levels of volatility. No problem. I don't know any other person who could handle it. No one. Not young guys not old women. No one. (Might be my ADHD. When I'm up I shrug, when I'm down I shrug. I also have a deep understanding of my investments.) During the 2008 crash intelligent people I know cashed out of their safe Vanguard funds out of desperation. I just remember Warren Buffet saying that if your investments weren't involved in the crash, just wait. Look at any stock graph, 2008 doesn't even show up. (Those people are still working.) Social Security is still a puzzle to me. As a teacher I was told that SS won't count our teaching. Okay. A month before I applied for SS, I got one of those This is what you'll get letters. I didn't find out until my first check arrived that it was 25% of that amount. Then all that disappeared when I got Medicare. No one has ever been able to explain this. It's not a problem. I retired early before my investments had grown so that bit of money helped. I think the safer plan is to invest early, invest in a low fee fund, like S&P. Live a life of the mind, travel cheap, don't buy a lot of stuff. Good video.
Don’t wait until your older years though. I’m 52. Most folks my age don’t seem to exercise. Do you think they will start when they’re older? Nope. I’ve always heard that if you want to be healthy in your 60’s start in your 40’s.
Thank you, I’ve exercised for years. Not in great shape now due to surgeries, but I’m back at it and know what I need to do. Good health is my drug of choice
Azul, you’re amazing man. Every young adult, middle aged adult, and older adult should be mandated to watch your videos. Thanks for helping so many of us. I may be reaching out for your services one day. Thanks for all you do and I’m glad you’re enjoying retirement.
So many people I’ve met and close friends who have never taken the time to really understand how money works. I’ve talked to them and tried to explain. Over the years they were buying all the toys.Taking expensive trips. Now they’re in trouble financially. Many said I will work until I die. That’s easy to say when you’re 50. Now they are singing a different tune.
My husband and I recently retired in our late 50s. Married 33 years with two grown and flown children. We are now content to simplify our materialistics, regardless of early or full retirement choice. A simple life sounds so refreshing.
Here is a huge piece of advice if you really want to retire before 59 1/2 or certainly before Midicare age. You can qualify for HUGE health insurance subsidies if you limit your REPORTABLE income in the first years of retirement. So, if you have significant ROTH holdings, cash or even tangible assets like precious metals and use them as your primary source of income, you will qualify for subsidies that will help pay for as much as half of your health care premiums or more. Two areas that really need to be thought out before retiring are health care premiums AND taxes. They are not mutually exclusive factors either.
Great videos, I really like the way you include everyone, because everyone is so incredibly different. I’m retired, well semi retired at 55 but yeah it’s hard to wrap your head around why people don’t retire or at least start enjoying their life sooner rather than later. When you’ve saved your whole life to retire, it’s difficult to start spending money, so I’m glad you mentioned that I recently just bought a boat and a slip at a yacht club, and I almost threw up thinking about the money I was spending on it, but I think it’s probably the best decision I’ve ever made, sometimes you just have to get out of your comfort zone. I’ve been incredibly frugal my whole life, I just had to realize we don’t live for ever. So thanks for pointing this fact out.
All of my parents, uncle & anunties have all been healthy, fit and active into their ninties. Because they eat decent food & always had phisically active interests.
From one 59 year old new retiree to another, congrats! I think you hit on many good points. By all accounts, I have saved plenty of money to retire, and yet even with far more than the average I’m still uneasy given market volatility (even with a balanced portfolio). And the idea of spending without actively bringing income in is so entirely foreign to how we live our lives up to this point. But you’re right that we are all living on borrowed time, and enjoying the best/healthiest of those years is priceless. Time to trust that this retirement strategy thing-y actually works.
I'm in a unique situation as a widow, so what I looked at was how much I would receive in total over the next 30 years (age 60-90). Looking at the full payout dollar amount is different from the monthly payout. Just because it's high per month, doesn't necessarily mean you'll get more money. I decided to take my widow's benefit (my late husband's benefit) at 60 and let mine cook until 70, so I'll take that then. I did a spreadsheet and found I made more money over 30 years (age 60-90) by taking his for a loss and mine at full maturity, instead of waiting to take his at a later date, which would be more per month than I'm getting now. Since I have personal investments, I want more money overall from SS, so a higher monthly benefit doesn't matter to me. I prefer to take the money now at 60 and enjoy semi-retirement (PT work).
60 single vet fm, living in CA. No debt besides my mortgage I'm paying down as quickly as possible, working full time making under $55k. I started saving for retirement at 30 with $100 a month. My net worth at this time is $750k. I'm so thankful I made the decisions I did when I was younger. I plan to retire at 65. If I don't make it to 65, my only child will be set. If she doesn't make it her beneficiaries will get it.
You nailed it with this one. I agree the cost of home ownership is expensive. But the rents are also expensive. Rents keep rising. For the better apartments in my area $4,000 plus.
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
Azul, I really enjoy your approach to retirement and teaching. You are not doom and gloom and very encouraging to the folks that may be behind in the process. You are doing a great service by broadening the public’s understanding of the art of retirement finances. Thank you!
Great "Greatest Hits" video, Azul! Your videos have been my rock standing out in this ocean of doubt surrounding the early retirement topic! I'm right there with you: 59, mom's hitting 90 this year, and lots to navigate. Really appreciate all the actionable insight you provide. Many thanks!
Azul, sorry you missed it. The best investment by far is exercise and diet for body and mind. Don't eat any dairy or white flour, vegetable oils or junk (not food). Walk a half hour each day. Stop sitting on your duff. Read something, anything to improve your situation. Maybe investment books. Portfolio alocation diversification should include precious metal, rentzl properties, businesses and also stocks. Don't rely on just on the market for your future success.
I worked as a teacher until I was 67 years old because we edged my health insurance until my husband and I were both eligible for Medicare. When my friends retired early, the cost of health insurance was incredibly high. Thankfully, I loved the school where I taught, and I loved what I did.
I’m a teacher for a private school. No pension. Been saving in my 403b but it will never be enough. I Will keep working until I’m dead at my desk because I will need the insurance and income!
@@jamoscatelli A trad IRA can be tax me never IF you control your income by only withdrawing a bit every year, so that your personal exemption covers what you'd owe in taxes.
I don't know why 401K's always gets so much negativity. All money we earn is taxable, 401K is just deferred. My employer matched my 401K contributions, it's a valuable account to have and I'll be paying tax on withdrawals just like I pay capital gains tax on other sources of investment. Expect to pay tax and work that into the withdrawal strategy. Having a taxable 401K is way better than not having one at all.
The pretax 401K/IRA becomes a concern when the balance gets so high that RMDs, when combined with other taxable income, drives total income so high that the income taxes are high and the recipient even crosses over into paying IRMAA surcharges for their medicare premiums. I hedged my bets by putting money into both pre-tax and Roth accounts.
@lynnebucher6537 One assumes there is a mix of retirement accounts planned out across Tax-Deferred Income, Capital Gains Income, Non-Taxable Principal, Interest Income, etc. Paying tax is expected, get a tax consultant, not a financial advisor if you want to save money in retirement. All financial advisors think about is their commission selling financial products, not on a person's retirement experience.
I reach 70 tomorrow, God willing. Starting my 7th year of retirement. Will celebrate with family. Reasonably healthy. Married 44 years. Active in church. Travel some. I spend time raising bees and hand making wooden gifts for others. Best times are around a fireplace reading with my wife. I am content and blessed well beyond what I deserve. As my spiritual mentor said years ago, “God watches over babies and fools. We are no longer babies.”
And then a lot of other retirement videos say we’re gonna live longer than we think and that if we are 65 and a female now expect to live well into our 80s. So I’d rather air on caution while still enjoying the go-go, slow go and no go years!
I have worked with a planner for about 2 decades.Same company, a couple different reps.I have been happy with how they've helped us.I within a few years of retirement.Should I be worried about my planner going into retirement? I ask because planners (mine) makes money when I do, but in retirement, we are spending down and investing more conservatively. Should I be looking for a different planner?Do planners have less incentive to work with is?
54 think about retirement, your vids regularly appear, always valuable and interesting perspective. Thanks for putting your thoughts out there, very helpful.
Azul - point about life expectancy is good. Country life expectancy provided by WHO is inaccurate. It is an average that contains all deaths, including new born and toddler deaths.
@@charliechan578A lot of distributions are not bell shaped and have a long tail. In that case, mean and median are absolutely NOT the same thing and can be far apart. Distribution of wealth is such a distribution.
Thank you for your videos mate.. . Crypto education is what the world needs the most right now. I don’t think that buy and hold is a valid investment strategy anymore. Not too diluted and to a degree, follows Evelyn’s trading ideas and signal tips for your portfolio growth and aggressiveness. She is a woman who has not only taught me what the cryptocurrency trading world looks like but a secret to uplift my finance. Buying crypto and waiting for the price to shoot up is not the best way to invest in the market but buying and trading is. Evelyn Infurna’s trade signaIs does the heavy lifting, generating competitive returns for crypto traders and investors in the form of money and peace of mind. Time in the market vs. timing the market. If you keep that mentality as an investor, you will stay calm during the storm! Within some months I was making a lot more money and have continued on that same path...
Building a dividend growth portfolio and constantly adding to it could be an excellent and tranquil approach to create an income stream that can be used as a supplement for retirement or at any time if necessary. Perseverance and consistency over time could ensure the targeted income stream goal with minimal concern.
Having an lnvestment 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 nettd over $220K so far, that made it clear there's more to the market that we avg joes don't know
I have worked with a few financial advisors before now but i ultimately settled for 'Annette Marie Holt'. She is SEC regulated and licensed in US. You can easily look her up
why do we live in a world where people who save some money have to basically bet the money at the wall street/govment casino and hope it works out? Why isnt saving in itself good enough. Something is wrong with this system we are living under. Something unethical and shady is going on in the world we live in where working class people have to work for decades and yet still must gamble with the little bit of money they put back by throwing that money into a tank full of suit and tie wearing sharks and hope they dont get eaten by those sharks.
Depends on your country within this world. In my country everyone has an opportunity to move from one class to another. Or move their kids to another class. It is easier for some than the rest of us, but the opportunity is there, somewhere.
Real estate investing with a long term view my friend. Avoid putting everything in the casino. I have been around for a while and have seen it play out. The people with a plan and patience do very well.
@@Brians007 not everyone has 40 years to wait for things to play out. Gen x got screwed in the work place by getting low pay since there were more people looking for jobs than there were jobs
The house you buy, sell, and keep is a huge factor, as much as your investments. Having a paid-off house is a beautiful thing. Maybe even having an income-producing rental. Or selling an oversized house and downsizing to an empty nest smaller, less expensive house.
Great honest advice from someone who as gone before. Thank you for opening up and continuing to provide solid information. I am continually surprised about the cost of health care as a rising expense for my retirement years and appreciate you highlighting that issue.
Hello and thank you for your talks with us. I am retired at the end of February. It looks like I will be Okay and am looking forward to it. I do worry and Medicare and and the expense of health care. Your numbers made me worry more. I do want to add and I’m not sure how it works with UA-cam but the adds on your videos seem to be excessive. Much more than some others. I’d assume a lot give up and don’t make it to the end. Thanks again.
This is my fifth year after retirement. I’ve been following the 4% rule thing I saw on a UA-cam channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get worried.
Amazingly, you were able to save that much during your active years. Not a lot of people can save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital, so you are not left devastated during a market crash or recovery. To simplify the process, you could allocate your resources with the help of a financial advisor.
@@LucaMurgia-j7b Yeah, I’m also closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t 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.
@@TerrencesSheldons Hey, this caught my interest. I worry that I have a couple more months before retirement, and I want to switch to using a financial advisor, but I don’t know how to find one.
@@JoeWilmoth-k2w MARGARET MOLLI ALVEY is a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and is a valuable resource for individuals seeking guidance in navigating the financial market.
@@TerrencesSheldons Thank you for this tip. it was easy to find your coach. Did my due diligence on her. She seems very proficient and I'm grateful for your guidance.
Yeah, SS ain't going nowhere in my life time.Really blessed in the US. I travel quite a bit 6-8 months a year. People that complain usually don't know how good they have it. Compared to allllllllot of other countries if you live in the US. you are really blessed.
The problem with the the national debt is that it's been used to pay for tax breaks, a little for us, a lot to the top 10%. Voters have bought into the myth that tax breaks are good for the economy. President Reagan started the tax break stuff in the 1980s. The debt increased. Of course the debt was caused by a lot of things. (But no one would think, 'My wife spends too much money so I'll give half my savings to my rich uncle.') President Clinton raised taxes for the wealthy and corporations back to where they were before Reagan, he also cut some federal spending. For the first time in 30 years the federal budget was balanced, the national debt began to be rapidly paid down and by the end of his second term there were tax surpluses. The economy of the 1990s boomed. (Then two wars and another huge tax break wiped that out.) So it is possible. The net worth of the United States over the past 40 has doubled. Most of that has gone to the top 10%, mostly to the top 1%. SS isn't written in stone. It'll probably be like minimum wage, over time it won't increase and even low levels of inflation will reduce it by 2/3rds. And yes. Step one in my successful investing was: Be an American.
Between my husband and myself - we each had two dental implants we needed which totaled $30,000 no exaggeration. Health care with medicare does not cost much but dental is killing us.
Don’t worry. Trump will be back in Jan and looks like it’ll be a peaceful hand over. The DOJ are stopping attacking him, Hunter was pardoned plus perhaps a few more pardons to come (unfortunately, as power has been wielded against citizens etc). Will be a good 4 years plus perhaps another 8
If anyone here has stayed in the market the last 10 years should easily be able to retire with this crazy fake stock market we have. Just saying the obvious unless you had unforeseen circumstances
I have an exon executive patient who diamond handed his shares from the 80’s till now. The only time he sold was when his daughter in law convinced him to sell some during the pandemic 5%, just to satisfy her “concerns”. He is in his 90’s now still living off the bounty of the land
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Don't put all your eggs in one basket; instead, diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thank you for this tip. It was easy to find your coach on web. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Good stuff. Experts say longevity is 6% attributable to genetics; meaning, 94% is environmental or under your control. You look pretty good. I'm guessing you are going to beat your genetics.
Have you tracked YOY cost of living increases? That really adds up and makes planning harder. Also, not knowing if there will be Medicare or SS anymore; if not, many retirements will be delayed or never happen, and many lives will be shortened.
Good advice to prepare yourself...don't however plan that when you retire things will be stable. The last five years since I retired have demonstrated this, even with what I consider a stable investment of 50% bonds and 50% stocks it has yo-yoed up in value and down and back up (20%)..agree though enjoy those early years while in good shape.
The only thing that matters in retirement is cash flow. A large nest egg is nice but supplementing prior wage income is essential for a successful retirement.
I'll second the recommendation to read "From Strength to Strength" by Arthur Brooks. I am currently working on planning my next stage of life, and this book is helping me.
If you can do 4th Grade math, you can see that between ACA premiums (for husband and wife) and a 10K deductible per year, you might blow through 200K in Cash between 55-65 for retiree medical/dental coverage for you and a spouse.
My dad almost made it to 80 with liver disease. My mom is 93 and never exercised. My grandparents--all born in the 1890s--made it into their 80s. I eat right and love to exercise. You'd better believe I've got my money invested to last me in to my 90s. After I hit 100 I probably won't care as long as I've got 3 hots and a cot.
I have heard the alarmism about social security running out for my entire life, and I tell you in all honesty that the politician who reduces or permits the reduction of social security benefits (and let's be clear, raising the retirement age is a benefit reduction) will have ended their career forever, regardless of party. And I believe there are many, many people who believe as I do. People will demand other measures (like removing the cap from the SS payroll rax) first. Senior poverty is already too high. Even the most ardent Trumpists won't support a return to widespread starvation in old age.
Have you ever done the maths on investing the money yourself instead of paying that money to the government SS system? SS system screws people over compared to simple index funds
Affordable Care Act. Can get quotes there. Your state might have its own exchange. Get a high deductible plan and set aside money into a health savings account that you never touch for anything other than medical needs. It can be done. That's what we're doing next year when I retire at 61 or following year at 62....election could crater the market...we'll soon see.
@@briand4000 Thanks. So I could get like a Blue Cross bronze plan-high deductable- then put money in HSA thru A.C.A. vs paying for like 80-20 gold plan? concerned about election too.
@@reesesha2289 You could, yes. Have to look at the premiums, max out of pockets and your overall health conditions. It does get nuanced. Both of us having some cancer history (skin for me, breast for her), we are most concerned about major medical coverage. We're OK with more of a catastrophic care type of plan. We fund, via cash out of pocket, health maintenance services through a functional health practitioner we're working with. It's wonderful!
Our socio-economic condition in the US is a dumpster fire. We're taking SS at 62. I have zero faith in anything the federal government does helping out the middle class man or woman. We're being slow boiled (like the frog) into insolvency.
Who told us throughout the “saving years” to max our tax advantaged accounts? Get that employer match. Shield your contributions from immediate taxation. Just pile up the savings and multiply your salary to gauge success. Now - after it’s too late for many of us to do Roth conversations - the savvy planner mantra is to distribute retirement assets strategically over 3 buckets. Where was all the prescient advice when such behaviors were actionable?
Regarding Roth IRAs, I understand it must be earned income. So if you’re already retired and not taking earning income, can Social Security count so that you can still contribute toa Roth?
I never could understand people who return to office jobs because they say they were bored in retirement. I can think of thousands of things I'd rather do than work. If I were saving the world, that's different. But most of us aren't.
High prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
My CFA ’Stacy Lynn Staples’, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Never met a financial advisor that made me money wrap fees are a scam and incentivize the wrong behavior. Disputes go to arbitration-there is no recourse for incompetence. No one ever treats your money like it’s their own.
Grim advice. On the one hand you say to expect to fork over MUCH more in taxes - more in every imaginable tax - expect to make less in social security, plan for at least 300 grand in unexpected medical costs, etc. … But you also point out that the median net worth around retirement is only like 300-400K. (Adding later that even having a million set aside won’t even be enough.) So basically most people just can’t ever hope to retire. Except to abject poverty. Bitcoin fixes this.
This is really sobering video. With rising costs in health care, inflation, housing costs, and uncertainty in social security trust fund being depleted by 2034, and less time than we think have left....I need a drink, no wait, that will hurt my health...this sucks...
SSA funding is easily solved. To appease lobbyists, legislators just don't want to do it . Just look at the military budget if you have any questions about that.
My friends if funds are tight, start flipping things. Start small. You’ll make mistakes and perhaps lose a bit. Bit over time you will get an eye for what things are worth. I know people who make a hundred k flipping bikes, washers/dryers, surfboards, fishing gear, you name it. Just get started. Blessings
Totally agree unfortunately most people I know luve check to check, have a small retirement income, less than 50k and rely on ss. What advice can you give that median over 67?😳
if the idea is to build an income stream to use as complement for retirement, or at any given point if needed, then building a dividend growth portfolio always buying adding to it could be a good and peaceful path. On the long run consistency and perseverance could guaranty the desired income stream goal with little worries.
the idea is to Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions.
Well said, with the help of the an investment advi-sor, I diversified my 62K portfolio across many markets and in a matter of months, I was able to produce over 356K in net profit from high dividend yield equities, bonds, and exchange-traded funds (ETFs)
wow massive gains! my partner recently hinted on going same direction.. what did you invest in, and who is your investment advisr please, if you dont mind me asking? in dire need of asset allocation
My CFA Annette Christine Conte a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her...
The part about our health not lasting as long as we think really hit home. It's a sobering reminder to plan wisely and enjoy life while we can.
People are facing a tough retirement and it’s even harder for workers to save due to low-paying jobs, inflation and high rents. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire in.
Ain’t that the truth?
Retirement is a lot more difficult than it was in the past, they say it’s all about balancing your risk tolerance with your long-term goals but it’s more tricky than it sounds. I’m considering speaking to an advisor to help in strengthening my retirement accounts.
That’s surely a way to go!!! I’ve always delegated my excesses to an advisor, since suffering major portfolio loss early 2022. I’m now semi-retired and only work 8 hours a week with barely 25% short of my $2M retirement goal after subsequent investments to date.
Thanks for sharing your experience. Your advisor must be really good, I hope it’s okay to inquire if you’re still working with the same Advisor and how can I get in touch?
My CFA, *Joseph Nick Cahill* is a renowned figure in his field. I recommend searching his name online; you’ll find all his credentials and everything you need to work with a reliable professional. With many years of experience, he is a valuable resource for anyone looking to navigate the financial market.
I retired 14 years ago, my private pension is almost gone. I created a business that fills me with joy & purpose completely different to my big job. I don't earn much, I don't spend much. I strength train everyday, Sleep well, have lots of worthwhile projects on the go and I love being a grandfather. I love forward to my 70s as a continue the good fight against father time. Ageing is a gift and privilege many don't enjoy. Don't complain and avoid Complacency, Comfort and Convonience they make you weak.
Same here. I never got my head around even the idea of a pension. It's a nice chunk every month, but it's not like investing. (My income continues to increase.) And invest in your health. I exercise pretty intensely. Put a TV in front of my treadmill. Huge dividends. Eat healthy food. Don't eat out, don't eat crap. Learn to cook basic tasty healthy food. Huge dividends, butter than money. I"m almost 70, I'm healthier than the vast majority of 40 year olds. What's that worth?
I recently paid a financial advisor to go over where I was at. They ran all the numbers and said that I was doing great. My plan was working exactly the way I thought it was. I should've hired them years ago, because arriving at my ;great plan' I made a couple of costly mistakes. The biggest problem is the 'financial advisors' we meet are almost always people selling snake oil. When I asked the people I hired if they were fiduciary, they sent me a document. The other guys all want to sell me life insurance, 'You can't borrow from yourself!'
I've been through incredible levels of volatility. No problem. I don't know any other person who could handle it. No one. Not young guys not old women. No one. (Might be my ADHD. When I'm up I shrug, when I'm down I shrug. I also have a deep understanding of my investments.) During the 2008 crash intelligent people I know cashed out of their safe Vanguard funds out of desperation. I just remember Warren Buffet saying that if your investments weren't involved in the crash, just wait. Look at any stock graph, 2008 doesn't even show up. (Those people are still working.)
Social Security is still a puzzle to me. As a teacher I was told that SS won't count our teaching. Okay. A month before I applied for SS, I got one of those This is what you'll get letters. I didn't find out until my first check arrived that it was 25% of that amount. Then all that disappeared when I got Medicare. No one has ever been able to explain this. It's not a problem. I retired early before my investments had grown so that bit of money helped.
I think the safer plan is to invest early, invest in a low fee fund, like S&P. Live a life of the mind, travel cheap, don't buy a lot of stuff. Good video.
Wisdom
Zul, the best thing you can do in your older years is exercise and diet. Those are two things within your control.
With daily walks at the minimum, and strength training at the maximum,,,
@@casienwhey Exactly. That's the best "investment" anyone can make.
Don’t wait until your older years though. I’m 52. Most folks my age don’t seem to exercise. Do you think they will start when they’re older? Nope. I’ve always heard that if you want to be healthy in your 60’s start in your 40’s.
You hit the nail on the head. It's horrible. In my neighborhood I see retirees retire, then sit down and never get up again.. Horrible.
Thank you, I’ve exercised for years. Not in great shape now due to surgeries, but I’m back at it and know what I need to do. Good health is my drug of choice
Azul, you’re amazing man. Every young adult, middle aged adult, and older adult should be mandated to watch your videos. Thanks for helping so many of us. I may be reaching out for your services one day. Thanks for all you do and I’m glad you’re enjoying retirement.
So many people I’ve met and close friends who have never taken the time to really understand how money works. I’ve talked to them and tried to explain. Over the years they were buying all the toys.Taking expensive trips. Now they’re in trouble financially. Many said I will work until I die. That’s easy to say when you’re 50. Now they are singing a different tune.
My husband and I recently retired in our late 50s. Married 33 years with two grown and flown children. We are now content to simplify our materialistics, regardless of early or full retirement choice. A simple life sounds so refreshing.
Here is a huge piece of advice if you really want to retire before 59 1/2 or certainly before Midicare age. You can qualify for HUGE health insurance subsidies if you limit your REPORTABLE income in the first years of retirement. So, if you have significant ROTH holdings, cash or even tangible assets like precious metals and use them as your primary source of income, you will qualify for subsidies that will help pay for as much as half of your health care premiums or more. Two areas that really need to be thought out before retiring are health care premiums AND taxes. They are not mutually exclusive factors either.
Great info. Thank you!
Great videos, I really like the way you include everyone, because everyone is so incredibly different. I’m retired, well semi retired at 55 but yeah it’s hard to wrap your head around why people don’t retire or at least start enjoying their life sooner rather than later. When you’ve saved your whole life to retire, it’s difficult to start spending money, so I’m glad you mentioned that I recently just bought a boat and a slip at a yacht club, and I almost threw up thinking about the money I was spending on it, but I think it’s probably the best decision I’ve ever made, sometimes you just have to get out of your comfort zone. I’ve been incredibly frugal my whole life, I just had to realize we don’t live for ever. So thanks for pointing this fact out.
Have you ever read the Bible?
All of my parents, uncle & anunties have all been healthy, fit and active into their ninties. Because they eat decent food & always had phisically active interests.
From one 59 year old new retiree to another, congrats! I think you hit on many good points. By all accounts, I have saved plenty of money to retire, and yet even with far more than the average I’m still uneasy given market volatility (even with a balanced portfolio). And the idea of spending without actively bringing income in is so entirely foreign to how we live our lives up to this point.
But you’re right that we are all living on borrowed time, and enjoying the best/healthiest of those years is priceless. Time to trust that this retirement strategy thing-y actually works.
I'm in a unique situation as a widow, so what I looked at was how much I would receive in total over the next 30 years (age 60-90). Looking at the full payout dollar amount is different from the monthly payout. Just because it's high per month, doesn't necessarily mean you'll get more money. I decided to take my widow's benefit (my late husband's benefit) at 60 and let mine cook until 70, so I'll take that then. I did a spreadsheet and found I made more money over 30 years (age 60-90) by taking his for a loss and mine at full maturity, instead of waiting to take his at a later date, which would be more per month than I'm getting now. Since I have personal investments, I want more money overall from SS, so a higher monthly benefit doesn't matter to me. I prefer to take the money now at 60 and enjoy semi-retirement (PT work).
The very best health care coverage is exercise. Good content Azul!
I guess if I were muscular enough I could have removed that tumor wuth my bare hands! 😂
60 single vet fm, living in CA. No debt besides my mortgage I'm paying down as quickly as possible, working full time making under $55k. I started saving for retirement at 30 with $100 a month. My net worth at this time is $750k. I'm so thankful I made the decisions I did when I was younger. I plan to retire at 65. If I don't make it to 65, my only child will be set. If she doesn't make it her beneficiaries will get it.
You nailed it with this one. I agree the cost of home ownership is expensive. But the rents are also expensive. Rents keep rising. For the better apartments in my area $4,000 plus.
Be an owner not a renter.
Portugal/Spain
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
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?
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.
Azul, I really enjoy your approach to retirement and teaching. You are not doom and gloom and very encouraging to the folks that may be behind in the process. You are doing a great service by broadening the public’s understanding of the art of retirement finances. Thank you!
Great "Greatest Hits" video, Azul! Your videos have been my rock standing out in this ocean of doubt surrounding the early retirement topic! I'm right there with you: 59, mom's hitting 90 this year, and lots to navigate. Really appreciate all the actionable insight you provide. Many thanks!
Azul, sorry you missed it.
The best investment by far is exercise and diet for body and mind.
Don't eat any dairy or white flour, vegetable oils or junk (not food).
Walk a half hour each day. Stop sitting on your duff.
Read something, anything to improve your situation. Maybe investment books.
Portfolio alocation diversification should include precious metal, rentzl properties, businesses and also stocks. Don't rely on just on the market for your future success.
If I eat very healthy and walk briskly every day for an hour can I sit on my duff? I love sitting on my duff!
What's wrong with dairy?
I worked as a teacher until I was 67 years old because we edged my health insurance until my husband and I were both eligible for Medicare. When my friends retired early, the cost of health insurance was incredibly high. Thankfully, I loved the school where I taught, and I loved what I did.
I’m a teacher for a private school. No pension. Been saving in my 403b but it will never be enough. I Will keep working until I’m dead at my desk because I will need the insurance and income!
A ROTH is a tax me NOW account, not tax me never. An HSA can be a tax me never account.
An HSA is usually only available with a get-reamed-on the-price-of health-insurance-plan. It's a good deal if your employer's paying!
He addressed this in several videos before…he knows and so do those of us who have followed him for sometime.
@@jamoscatelli A trad IRA can be tax me never IF you control your income by only withdrawing a bit every year, so that your personal exemption covers what you'd owe in taxes.
wow, both you and Joe Kuhn recommending the same book this week. keep up the great work!
SS+annuities cover living expenses. The rest is in equities. Being debt free is critical for peace of mind.
Yes... Peace of mind.
I am less than a year from having the house paid off. Debt free. I get a raise.
I don't know why 401K's always gets so much negativity. All money we earn is taxable, 401K is just deferred. My employer matched my 401K contributions, it's a valuable account to have and I'll be paying tax on withdrawals just like I pay capital gains tax on other sources of investment. Expect to pay tax and work that into the withdrawal strategy. Having a taxable 401K is way better than not having one at all.
The pretax 401K/IRA becomes a concern when the balance gets so high that RMDs, when combined with other taxable income, drives total income so high that the income taxes are high and the recipient even crosses over into paying IRMAA surcharges for their medicare premiums. I hedged my bets by putting money into both pre-tax and Roth accounts.
@lynnebucher6537 One assumes there is a mix of retirement accounts planned out across Tax-Deferred Income, Capital Gains Income, Non-Taxable Principal, Interest Income, etc. Paying tax is expected, get a tax consultant, not a financial advisor if you want to save money in retirement. All financial advisors think about is their commission selling financial products, not on a person's retirement experience.
Thanks for sharing your wisdom
Left U.S. to retire at 55 , I’m 6 years into retirement and love it! Puerto Vallarta never disappoints!
I reach 70 tomorrow, God willing. Starting my 7th year of retirement. Will celebrate with family. Reasonably healthy. Married 44 years. Active in church. Travel some. I spend time raising bees and hand making wooden gifts for others. Best times are around a fireplace reading with my wife. I am content and blessed well beyond what I deserve.
As my spiritual mentor said years ago, “God watches over babies and fools. We are no longer babies.”
Happy belated Birthday 🎉
Focus on your health. Side effect will be less stress and better physical and mental health.
If you win $100M you instantly have a new career, managing that money!
And then a lot of other retirement videos say we’re gonna live longer than we think and that if we are 65 and a female now expect to live well into our 80s. So I’d rather air on caution while still enjoying the go-go, slow go and no go years!
I have worked with a planner for about 2 decades.Same company, a couple different reps.I have been happy with how they've helped us.I within a few years of retirement.Should I be worried about my planner going into retirement? I ask because planners (mine) makes money when I do, but in retirement, we are spending down and investing more conservatively. Should I be looking for a different planner?Do planners have less incentive to work with is?
54 think about retirement, your vids regularly appear, always valuable and interesting perspective. Thanks for putting your thoughts out there, very helpful.
Azul - point about life expectancy is good. Country life expectancy provided by WHO is inaccurate. It is an average that contains all deaths, including new born and toddler deaths.
Yes, I mean or median is always what should be used. And they’re basically the same thing one is just a scientific notation of the terminology really.
@@charliechan578A lot of distributions are not bell shaped and have a long tail. In that case, mean and median are absolutely NOT the same thing and can be far apart. Distribution of wealth is such a distribution.
Loved your video! Keep up the good work!
Thank you for your videos mate.. . Crypto education is what the world needs the most right now. I don’t think that buy and hold is a valid investment strategy anymore. Not too diluted and to a degree, follows Evelyn’s trading ideas and signal tips for your portfolio growth and aggressiveness. She is a woman who has not only taught me what the cryptocurrency trading world looks like but a secret to uplift my finance. Buying crypto and waiting for the price to shoot up is not the best way to invest in the market but buying and trading is. Evelyn Infurna’s trade signaIs does the heavy lifting, generating competitive returns for crypto traders and investors in the form of money and peace of mind. Time in the market vs. timing the market. If you keep that mentality as an investor, you will stay calm during the storm! Within some months I was making a lot more money and have continued on that same path...
Use her name to quickly conduct an internet search.
SHE’S MOSTLY ON TELEGRAMS APPS WITH HER NAME
Infurnaevely1 she’s verified
The market has gone berserk! whether you're a newbie or a veteran trader, everyone needs a sort of coach at some point to thrive forward.
bitcoin does not pay any yield but will reward you with growth that you can't find in any other asset class
Building a dividend growth portfolio and constantly adding to it could be an excellent and tranquil approach to create an income stream that can be used as a supplement for retirement or at any time if necessary. Perseverance and consistency over time could ensure the targeted income stream goal with minimal concern.
Finding equities that have consistently increased their dividends over years or decades and haven't reduced them, even during recessions, is the goal.
Having an lnvestment 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 nettd over $220K so far, that made it clear there's more to the market that we avg joes don't know
@@j.ottinger Could you kindly elaborate on the advisor's background and qualifications?
I have worked with a few financial advisors before now but i ultimately settled for 'Annette Marie Holt'. She is SEC regulated and licensed in US. You can easily look her up
Thanks a lot for this recommendation. I just looked her up, and I have sent her an email. I hope she gets back to me soon.
Make a plan, set it to drip....and just write a check if and when I need it.....rarely look at what I have, it just keeps growing.
Once a year I have to calculate some Roth conversion, and to max out Long term gains, but other than that....let it grow.
W o w...i never thought about how many more summers and holidays i will have with family😮😢❤
why do we live in a world where people who save some money have to basically bet the money at the wall street/govment casino and hope it works out? Why isnt saving in itself good enough. Something is wrong with this system we are living under. Something unethical and shady is going on in the world we live in where working class people have to work for decades and yet still must gamble with the little bit of money they put back by throwing that money into a tank full of suit and tie wearing sharks and hope they dont get eaten by those sharks.
Depends on your country within this world. In my country everyone has an opportunity to move from one class to another. Or move their kids to another class. It is easier for some than the rest of us, but the opportunity is there, somewhere.
couldnt agree more, ou rmoney is broken.
@@Scotnish4U like carlin said, the system is rigged, its a big club, and we aint it. And they will get it all from us sooner or later
Real estate investing with a long term view my friend. Avoid putting everything in the casino. I have been around for a while and have seen it play out. The people with a plan and patience do very well.
@@Brians007 not everyone has 40 years to wait for things to play out. Gen x got screwed in the work place by getting low pay since there were more people looking for jobs than there were jobs
Excellent. Timely at the end of the year too
Thank you.
The house you buy, sell, and keep is a huge factor, as much as your investments. Having a paid-off house is a beautiful thing. Maybe even having an income-producing rental. Or selling an oversized house and downsizing to an empty nest smaller, less expensive house.
Great honest advice from someone who as gone before. Thank you for opening up and continuing to provide solid information. I am continually surprised about the cost of health care as a rising expense for my retirement years and appreciate you highlighting that issue.
Thanks Azul. This is a good "panoramic" view. Several topics pivot on who we are as individuals, and we should be mindful on all these topics.
Hello and thank you for your talks with us. I am retired at the end of February. It looks like I will be Okay and am looking forward to it. I do worry and Medicare and and the expense of health care. Your numbers made me worry more.
I do want to add and I’m not sure how it works with UA-cam but the adds on your videos seem to be excessive. Much more than some others. I’d assume a lot give up and don’t make it to the end. Thanks again.
This is my fifth year after retirement. I’ve been following the 4% rule thing I saw on a UA-cam channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get worried.
Amazingly, you were able to save that much during your active years. Not a lot of people can save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital, so you are not left devastated during a market crash or recovery. To simplify the process, you could allocate your resources with the help of a financial advisor.
@@LucaMurgia-j7b Yeah, I’m also closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t 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.
@@TerrencesSheldons Hey, this caught my interest. I worry that I have a couple more months before retirement, and I want to switch to using a financial advisor, but I don’t know how to find one.
@@JoeWilmoth-k2w MARGARET MOLLI ALVEY is a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and is a valuable resource for individuals seeking guidance in navigating the financial market.
@@TerrencesSheldons Thank you for this tip. it was easy to find your coach. Did my due diligence on her. She seems very proficient and I'm grateful for your guidance.
Yeah, SS ain't going nowhere in my life time.Really blessed in the US. I travel quite a bit 6-8 months a year. People that complain usually don't know how good they have it. Compared to allllllllot of other countries if you live in the US. you are really blessed.
The problem with the the national debt is that it's been used to pay for tax breaks, a little for us, a lot to the top 10%. Voters have bought into the myth that tax breaks are good for the economy. President Reagan started the tax break stuff in the 1980s. The debt increased. Of course the debt was caused by a lot of things. (But no one would think, 'My wife spends too much money so I'll give half my savings to my rich uncle.')
President Clinton raised taxes for the wealthy and corporations back to where they were before Reagan, he also cut some federal spending. For the first time in 30 years the federal budget was balanced, the national debt began to be rapidly paid down and by the end of his second term there were tax surpluses. The economy of the 1990s boomed.
(Then two wars and another huge tax break wiped that out.) So it is possible. The net worth of the United States over the past 40 has doubled. Most of that has gone to the top 10%, mostly to the top 1%. SS isn't written in stone. It'll probably be like minimum wage, over time it won't increase and even low levels of inflation will reduce it by 2/3rds. And yes. Step one in my successful investing was: Be an American.
Between my husband and myself - we each had two dental implants we needed which totaled $30,000 no exaggeration. Health care with medicare does not cost much but dental is killing us.
Go to Mexico! Great work for way less money than in the US!
The Strengths to Strengths recommendation was game changing for me, thx 😊
Pain of loss can include hyperinflation, so that adds to the complexity. Weird when stocks are safer than holding cash or bonds
"Seniors vote", yes in a normal democracy. We may not have that opportunity soon the way it's going 😒
Don’t worry. Trump will be back in Jan and looks like it’ll be a peaceful hand over. The DOJ are stopping attacking him, Hunter was pardoned plus perhaps a few more pardons to come (unfortunately, as power has been wielded against citizens etc). Will be a good 4 years plus perhaps another 8
Hiring a professional financial advisor has been one of the biggest mistakes I've made so far. It costed me dearly.
If anyone here has stayed in the market the last 10 years should easily be able to retire with this crazy fake stock market we have. Just saying the obvious unless you had unforeseen circumstances
I have an exon executive patient who diamond handed his shares from the 80’s till now. The only time he sold was when his daughter in law convinced him to sell some during the pandemic 5%, just to satisfy her “concerns”. He is in his 90’s now still living off the bounty of the land
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Don't put all your eggs in one basket; instead, diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
Pls how can I reach this expert, I need someone to help me manage my portfolio.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thank you for this tip. It was easy to find your coach on web. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Sounds like great advice! Thanks
EXCELLENT video with very valuable info..thank you!
Good stuff. Experts say longevity is 6% attributable to genetics; meaning, 94% is environmental or under your control. You look pretty good. I'm guessing you are going to beat your genetics.
Have you tracked YOY cost of living increases? That really adds up and makes planning harder. Also, not knowing if there will be Medicare or SS anymore; if not, many retirements will be delayed or never happen, and many lives will be shortened.
Good advice to prepare yourself...don't however plan that when you retire things will be stable. The last five years since I retired have demonstrated this, even with what I consider a stable investment of 50% bonds and 50% stocks it has yo-yoed up in value and down and back up (20%)..agree though enjoy those early years while in good shape.
excellent advise , zero debt can lower your costs dramatically and increase the quality of your life
The only thing that matters in retirement is cash flow. A large nest egg is nice but supplementing prior wage income is essential for a successful retirement.
Where is this? Is this retirement in USA?
Yep
I'll second the recommendation to read "From Strength to Strength" by Arthur Brooks. I am currently working on planning my next stage of life, and this book is helping me.
Great eye opening video!
Can you do a more in-depth video about the pros and cons of renting or owning a home in retirement? Thanks!
Yes that's a big one. I am leaning towards going to renting after a certain age, so I don't have to deal with repairs and other owner hassles.
If you can do 4th Grade math, you can see that between ACA premiums (for husband and wife) and a 10K deductible per year, you might blow through 200K in Cash between 55-65 for retiree medical/dental coverage for you and a spouse.
Great advice! Thank you, now I'm depressed. 😮
Really appreciate this video
Good one. We hear about people living to 100 and think I’ll last that long
My dad almost made it to 80 with liver disease. My mom is 93 and never exercised. My grandparents--all born in the 1890s--made it into their 80s. I eat right and love to exercise. You'd better believe I've got my money invested to last me in to my 90s. After I hit 100 I probably won't care as long as I've got 3 hots and a cot.
Yea ok.
Yea ok.
Excellent content.
Karma remains individual - live well and go for it - Best Regards and Pleasant Journeys!
I have heard the alarmism about social security running out for my entire life, and I tell you in all honesty that the politician who reduces or permits the reduction of social security benefits (and let's be clear, raising the retirement age is a benefit reduction) will have ended their career forever, regardless of party. And I believe there are many, many people who believe as I do. People will demand other measures (like removing the cap from the SS payroll rax) first. Senior poverty is already too high. Even the most ardent Trumpists won't support a return to widespread starvation in old age.
Have you ever done the maths on investing the money yourself instead of paying that money to the government SS system? SS system screws people over compared to simple index funds
You’re doing God’s work, thank you!
Good video, although timestamps for the tips/advice would be nice.
Really appreciate your advice, A-man. Thank you!
can you talk a bit about what type of health insurances that are available for early (pre 65) retires
If you want great healthcare, PPO, choice of top Drs and hospitals like Cleveland Clinic, self-pay is outrageous!
Affordable Care Act. Can get quotes there. Your state might have its own exchange. Get a high deductible plan and set aside money into a health savings account that you never touch for anything other than medical needs. It can be done. That's what we're doing next year when I retire at 61 or following year at 62....election could crater the market...we'll soon see.
@@briand4000 Thanks. So I could get like a Blue Cross bronze plan-high deductable- then put money in HSA thru A.C.A. vs paying for like 80-20 gold plan? concerned about election too.
@@reesesha2289 You could, yes. Have to look at the premiums, max out of pockets and your overall health conditions. It does get nuanced. Both of us having some cancer history (skin for me, breast for her), we are most concerned about major medical coverage. We're OK with more of a catastrophic care type of plan. We fund, via cash out of pocket, health maintenance services through a functional health practitioner we're working with. It's wonderful!
we need more brutal honesty out of our advisors... thanks!
Social Security redo loophole can be used once for a year long free loan, just a thought.
Our socio-economic condition in the US is a dumpster fire. We're taking SS at 62. I have zero faith in anything the federal government does helping out the middle class man or woman. We're being slow boiled (like the frog) into insolvency.
The economy is booming. If you want this to continue, vote BLUE
Is your 401k not growing? Gas is like $2.75. Housing values are up. I’ll take this economy any day.
Who told us throughout the “saving years” to max our tax advantaged accounts? Get that employer match. Shield your contributions from immediate taxation. Just pile up the savings and multiply your salary to gauge success. Now - after it’s too late for many of us to do Roth conversations - the savvy planner mantra is to distribute retirement assets strategically over 3 buckets. Where was all the prescient advice when such behaviors were actionable?
I have similar question!
Great summary.
Regarding Roth IRAs, I understand it must be earned income. So if you’re already retired and not taking earning income, can Social Security count so that you can still contribute toa Roth?
I never could understand people who return to office jobs because they say they were bored in retirement. I can think of thousands of things I'd rather do than work. If I were saving the world, that's different. But most of us aren't.
They may say they were bored, but maybe just too embarrassed to admit that retirememt is more expensive than they planned for.
Perhaps they say that because they are worried about finances. They just do not want to admit it.
High prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
My CFA ’Stacy Lynn Staples’, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Own real estate. Make good investments that provide passive income like high quality dividends. Monitor your expenses. Practice gratitude.
Never met a financial advisor that made me money wrap fees are a scam and incentivize the wrong behavior. Disputes go to arbitration-there is no recourse for incompetence. No one ever treats your money like it’s their own.
Isnt it statistically shown that a large part of yield is determined by allocation? Why do you say "I think that..."
Grim advice. On the one hand you say to expect to fork over MUCH more in taxes - more in every imaginable tax - expect to make less in social security, plan for at least 300 grand in unexpected medical costs, etc. … But you also point out that the median net worth around retirement is only like 300-400K. (Adding later that even having a million set aside won’t even be enough.)
So basically most people just can’t ever hope to retire. Except to abject poverty.
Bitcoin fixes this.
This is really sobering video. With rising costs in health care, inflation, housing costs, and uncertainty in social security trust fund being depleted by 2034, and less time than we think have left....I need a drink, no wait, that will hurt my health...this sucks...
Well that was super depressing 😢
SSA funding is easily solved. To appease lobbyists, legislators just don't want to do it . Just look at the military budget if you have any questions about that.
Transition difficult? Ha! Retirement is like summer vacation and I will never regret retirement.
Good summary!
My friends if funds are tight, start flipping things. Start small. You’ll make mistakes and perhaps lose a bit. Bit over time you will get an eye for what things are worth. I know people who make a hundred k flipping bikes, washers/dryers, surfboards, fishing gear, you name it. Just get started. Blessings
Azul, are you still sticking to one house rule in inflationary economy?
Nice job
Should I move my retirement 403B to Roth tax free later account ?
When my health checks out, so do I…
This video is for wealthy people only. By wealthy, I mean earning over $250k and $1 million. Disregard if you are poorer.
Totally agree unfortunately most people I know luve check to check, have a small retirement income, less than 50k and rely on ss. What advice can you give that median over 67?😳