Can’t help but notice the watch said 30 years too. Must have been nice, because today if you start working at 18 and stop at 67 (full retirement), that means you had to work nearly 50 years (which also doesn’t take into account all the overtime and side jobs we have to do today just to get by).
@frontline Can you do an updated version of this today that also highlights how people of color also don't even know how to access or don't even have the ability to ever retire in their lifetime This was 2yrs ago and yet not one black person interviewed for this hour long special it's almost like black people are less likely to gain access to the type of jobs that offers the luxury of a company provided retirement plan that can help build even more wealth to not be in poverty later in life and not need to work but then again studies show life expectancy for black Americans is 5 to 7 years shorter when compared to their white counterparts so
2:19 Oh stop complaining, ya sound like an antisemitic. Next, you'll be saying thst the jews owns the FED and they deliberately sabotaged your countrys' economy on purpose, while making it looked like it was 'da blacks', LOL. Anyways!!! How's an economist clueless about the state of his own retirement? You're an economist, aren't ya? Or as you, as the many, ones that mindlessly buy into the lie?
Frontline, please moderate the comment section for this video. This place is absolutely crawling with bots recommending fake scam advisors. I've reported what I can, but there's too many. I'd hate for any soon-to-be retirees to lose their savings to these scams.
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
The advisor that guides me is 'Tenley Megan Amerson' most likely the internet is where to find her basic info, just search her name. She's established.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call.
I'm loving my retirement so far! My wife and I worked hard to reach this point - we're both retired, debt-free, and fortunate to have over $3 million in net worth. We achieved this through a saving and investing lifestyle in the stock market, which now generates weekly income for us. And now, we get to enjoy the fruits of our labor! We're traveling, golfing, and spending quality time with the grandkids. We feel grateful to be living smart and frugal, making the most of our golden years.
Absolutely! I'm in the same boat. I just got back from a road trip across the country. It's amazing how much energy and freedom we have now. Make the most of it, because it won't last forever!
I'm a young dad and I'm really glad to hear your story - it inspires me! I'm still working, but I'm counting down the days until I can enjoy my retirement Years. Can you please share your tips? What's the key to achieving this milestone and making the most of your retirement years? Any tips would be greatly appreciated!
Building a successful retirement requires discipline and strategy. Our journey's key takeaways include starting early, living below our means, diversifying investments, creating multiple income streams, planning for taxes, prioritizing relationships, and maintaining an active and healthy lifestyle.
Additionally consult with a fiduciary advisor, who can help grow your funds, Create a personalized plan and better prepare you for a successful retirement. we are with Tracy Britt Cool Consulting a NY-based fiduciary. Check online if she meets your requirements.
< Additionally consult with a fiduciary advisor, who can help grow your funds, Create a personalized plan and better prepare you for a successful retirement. we are with Tracy Britt Cool Consulting a NY-based fiduciary. Check online if she meets your requirements.
Every family has a person who breaks the chian of poverty in their house hope you become That one, I pray anyone reading this will be successful in life
I'm honestly surprised about This FIN advisor name being mentioned here. I stumbled upon one of her clients testimony last month in "WION" news and I tried her the returns are massive
I'm a bit perplexed seeing her been mentioned here also Didn't know she has been good to so many people too this wonderful, I'm in my fifth trade with her and it has been super
Yep. BUT the woman who blamed workers by saying "Americans started changing jobs more frequently" was wrong. Firms lied saying "Welcome to the family" etc but then got rid of older workers or workers whose wage increased over time. People saw this and returned the disloyalty with disloyalty. That context needed to be followed up on.
@@6789uiop It’s all an attack on business if not capitalism. We’ll, let’s check on how retirement plans work on Cubans, Venezuelan, Chinese, etc. If anything, it’s about the good old tenet of Personal Responsibility. And if want to talk about government, may I ask how the public system is educating the young financially???? Maybe race theory may include something about that. Hmmmmmm???
@@FARBOLUOS Absolutely. And if there was full information and a more level playing field - it'd be fine. Like arming deer before going deer hunting. Or embargoing Venezuela and then blaming the victims for the collapse of the Bolivar and resultant hyperinflation. By the way, that's going to happen here. Much of the world will like that because we've been arrogant and greedy for a long long time. Enjoy the QE and corporate socialism while it lasts!
take investment advice from JIMI HENDRIX: I know, I know You'll probably scream n' cry That your little world won't let you go But who in your measly little world are trying to prove that You're made out of gold and -a can't be sold
The problem with this video is it is deceiving and is not honest. For instance having $500 k in a 401k does not mean you have $500k. It means you have about 300k. since the government will tax that 35% + brokerage fees. What if AOC and the Omar get their way?? they will tax your 401k 50-60% BEWARE!!!
Don’t know if it is the right path. The right path is the pension system. Current system u pray n say lots of hail mary that there’s no crisis at the time of ur retirement or close to it. Or ur screwed.
Becoming a millionaire through a Roth IRA or a 401(k) involves different strategies for maximizing profits. A Roth IRA offers tax-free withdrawals in retirement, which can be advantageous if you expect to be in a higher tax bracket later in life. On the other hand, a 401(k) provides tax-deferred growth and potential employer contributions, boosting your savings. The optimal choice depends on factors like your current and future tax situation, employer match, and investment options. Consulting a financial advisor can help tailor a strategy that aligns with your financial goals and circumstances.
Prioritizing effective personal finance management holds greater significance than the sheer amount saved, irrespective of income source. Consulting a certified financial advisor can offer tailored strategies to optimize financial results by reducing expenses and enhancing income, regardless of whether it's earned through employment or investments.
I wholeheartedly concur. At 60 years old and newly retired, my external retirement funds total around One million two hundred fifty thousand dollars.. With no debt and minimal retirement fund allocation relative to my portfolio's value over the last three years, I recognize the importance of a financial advisor. Neglecting them isn't an option; however, thorough research is vital to find a trustworthy fiduciary advisor.
I'm guided by Annette Christine Conte an experienced coach with extensive financial market knowledge. While you can consider other options, her strategy has yielded positive results for me. She offers valuable insights, including entry and exit points for the securities I concentrate on.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
Whether it was produced on 2013 or yesterday, the facts are still the facts. Fees will kill your returns. I wish they would have gone more into annuities and how their fees make mutual fund fees look like peanuts.
@@Zafia_Ltd oh wow. Annuities for when someone parents passes while they are young or lottery winning ? I realized mutual mutuals are bad in 2021. I have been contributing to my job retirement plan since 2015. I am in mid thirties so I can still recover. Glad, I did after I quit my job in 2018. I had to move my plan to my local bank and it wasn't growing at all as if it was in a savings account.
I notice ppl are completely honest, transparencies to absolute strangers! It's like EFF IT nvr gonna see this guy/gal again. I'm bare my soul and then chuck em deuces🤌✌️✌️
The bankers / investors interviewed exhibited a lot of nervous laughter as they stumbled to answer the questions and that says it all. I’m moving all of my 401k into Index Funds on Monday. Thank you Frontline. 🙏
When they say that they've never seen anything supporting outperformance of low fee funds or fiduciary advisors is because they are lying. They'd be fired if they answered honestly on camera.
@@mathieutyler00 -Your comment was completely unnecessary and infantile. Grow up. If he would like to know how some of those interviewed are faring then how is that wrong? That is just the natural progression of human interest stories.
Think Frontline should do an update on this situation. I turned 60 the year this doc came out. Am not really retired yet, at 70+. May work PT till at least my mid-late 70's. Took my Soc Sec early. Still have fairly good health and mobility.
0:26 This program starts by perpetuating a myth. "If you make $100K, you need $1.5 million to be okay." No. What you need to be okay is based on your budget requirements at the time you retire, not on your salary.
I was just thinking that after I finished watching it. I won’t need my salary at retirement if I’m debt free and have less expenses. Medical expenses can be an issue. I suggest opening up an HSA to help with that. You also want to try and take care of yourself now by eating healthy and exercising.
This is true, but most people find it hard to cut spending much in retirement. It's hard to go from spending $100k a year down to $50k in retirement, especially considering medical costs.
Robinhood made trading free. While index funds have their place, I think index funds are slowing becoming outdated. The index funds have a lot of dead weight, environmentally disastrous oil companies and other companies of horrible ethical standards. With fractional shares, you can make your own index and pay 0.000% fees.
@@marka5968 Robinhood sells your order flow. You get terrible fill price and they make money off the difference. Robinhood has no advantage over the countless brokers that also offer zero comossion stock/etf trades (assuming you're in the US).
@@MrBrewman95 doesn't mean that much. Like going to a Toyota dealership and assuming they will be in your best interest legally, when all they know or sell is Toyotas.
My coworker for well over 30 years was set to retire at 55, he was a couple months from retiring. All I heard from him at work was his vision of his early retirement dream. When he visited his retirement home in another state, he had a heart attack and died. So we never know ultimately....reality beats a heavy drum. Taking care of your body is SO important...GET your physicals DONE and stay on TOP of your health....your retirement is related to your healthspan!
Firstly most of the 'victims' here were greedy-they were trying to obtain ridiculously high returns that could only be offered by cowboys. Next, the real reasons companies stopped paying final salary pensions is because they became fantastically expensive to pay for. That's why so many American companies outsource their jobs-it became far too expensive to pay American workers(and Europeans too) as we insist on retiring from 60 onwards when most people will love till their 80's and 1 in 2 people born today will live to 100. The maths just does not add up. You cannot work for 40 years then expect a pension for 40 years that is inflation linked and tied to your final salary. The public refuse to pay more or retire later-well guess what-the promises that have been paid CANNOT be honoured-there is just not enough money to do that. The BIGGEST reason is that 'public sector' workers are just damn greedy. They expect everyone to pay into a pension plan for them that most people can NEVER hope to get-good luck with that-the public will rise up against it. The public sector is far too big and the salaries are off the scale. Police officers earning over $150k in California, Principles $500k-it's crazy and CANNOT be paid for-we have the same nuttiness here in Blighty too. This documentary wants to push the narrative that the Government is the solution to the Pensions crisis-the Government CAUSED it!! The only way for people to retire comfortably is to keep your savings outside of the banking system-they will confiscate it when the next crisis comes and believe me it's coming. And guess what folks-NO ONE WILL EVER LOOK AFTER YOUR MONEY THEY WAY YOU WILL SO DO IT YOURSELF-TAKE RESPONSIBILITY, SWITCH THE TV OFF, STOP FIXATING ON BS AND START FOCUSSING ON YOUR LIFE!! And Finally-Never trust anyone with your money-WATCH THEM LIKE A HAWK AND THAT INCLUDES FAMILY-EVERYONE LOVES SPENDING OTHER PEOPLES MONEY!!! BUY GOLD AND SILVER-IT'S THE ONLY REAL MONEY!!!!!
@@jeremypeterson705 If the government allowed people to privately invest their money in aggressive growth mutual funds, everyone would retire with $1M or more. My wife is a school teacher (in the lowest paying state in the union). I never made much more than she. Yet at 49 and 56, we're worth upwards of $2M -- if you include our home.
Recently retired and unsure if my 401(k) and IRA will provide a stable future. i need an approach that will align with my risk tolerance and financial goals, i set aside $1m to achieve this. Do you suggest i get into stocks or buy a rental property?
Look up dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, its advisable you work with a financial advisor to help set up a well-structured portfolio.
I agree. Based on personal experience working with a financial manager, I currently have ($2million) in a well-diversified portfolio that has experienced exponential growth from when i started. It's not only about having money to invest in stocks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
@@HildaBennet You need to just buy and hold an S&P 500 index fund like VOO or SPY. Nobody should be seeing their retirement portfolios decreasing now, the market has been booming
It’s not that hard, there is tons of personal finance information on UA-cam. And lots of book to learn, most of us spend more time planning our vacation than our finances, where is our priority as a society?
@@greauxpetemy daddy make sure i comenack to him full SMH 😂😂 Under rhe bridge 😂 Damn.... that's batard show herself how she can control shakala 😂😂😂😂😂 Mantap gebing
Just work till you can't and when run out of savings I am going to take my own life. Is the only way. Or lucky enough i got my own place going to sell it when I can't work and move to the a cheap country and live off my savings.
I am currently in my 50s and This is no time to taper retirement savings. I want to max out my retirement contributions and I also have another $380k in a savings account that i want to invest in a non-retirement account. Where should I invest it now?
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
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.
An increasing number of people are likely to face challenges in retirement. Low wages, rising inflation, and high rental costs make it difficult to save adequately. Now, even middle-class Americans are struggling to afford homeownership, putting their retirement plans at risk.
The surge in living costs has disrupted my plan to retire at 62, work part-time, and continue building my savings. I can't help but wonder if those who weathered the 2008 financial crisis had it easier than what I'm facing today. The volatility of the stock market, paired with a decrease in income, has raised concerns about whether I’ll have enough funds to secure a comfortable retirement.
This is exactly why I rely on a portfolio coach for my investment strategy. Their expertise-managing both long and short positions, capitalizing on asymmetric risk, and strategically hedging against market downturns-makes it incredibly difficult for them to underperform. Over the past two years, working with a portfolio coach has helped me generate over $800,000 in returns.
I wholeheartedly agree. As I approach my mid-40s and retirement looms closer, I have accumulated over $2 million in non-retirement assets. I am free of debt and have allocated a relatively small portion to my retirement accounts compared to my overall portfolio in the past three years. The importance of a seasoned financial advisor cannot be overstated-just remember to conduct thorough research to find a dependable fiduciary.
Rebecca Lynne Buie has consistently been my top recommendation. She’s widely recognized for her expertise in financial markets and has a strong track record. I highly recommend her.
This is a really, really great documentary. It does a good job at cutting through the BS and explaining some pretty complex topics in an easy to digest manner. Honestly it should be required viewing for everyone.
One of Frontline’s finest, and worthy of an Emmy. I’ll never forget watching this eight years ago. It literally changed my retirement strategy. Thank you, Martin!
@@opensourceguy730 I opened a Vanguard acvt back in 2014 with $14k withdraw from a 401k. My last quarterly stmt has it approaching $100k. I also rolled over a subsequent 401k into it. This subsequent 401k was only a few thousand dollars. I am absolutely amazed.
This has been such an informative documentary even though it’s from 10 years ago. I’d love to see an updated version of the subjects discussed to see if any changes has happened in this industry.
Frontline will never do an update to see how unwise highlighted investors were in this "documentary"...everyone's account balances would have recovered nicely if they would have just stayed the course. Frontline will most likely do another hit-piece on capitalism when the next crisis arises.
The same principle still apply even thought it's from 2013. After watching this video, I went and checked my account and saw that I was being ripped off big time. Like the guy in this video, I kept wondering why I wasn't seeing an increase in my account, I know why now. THE FEES kept me from gaining.
The average person has never been so poor. Millions of families are struggling financially as living expenses hit the highest levels in more than four decades. Over 60% of our country lives paycheck to paycheck and about 40% earns poverty wages. Even after working all their lives, more than a quarter of older people have no savings and many believe they will never be able to retire in dignity, while around 55% of elderly people try to survive on an income of less than 25,000 a year.
I've been able to scale from $350K to $650K this red season because my FA figured out Defensive strategies to protect my portfolio and profit from this roller coaster market.
Please. Especially in the western world we have never had it so easy. Cars, multiple cars, homes with central heat and air conditioning. Food everywhere so much we are either 400 pounds or struggling to keep the weight off. Life is choices and trade offs.
Nor has the average person ever been so fat. You haven't seen real poverty if you think the average US citizen is poor. Why do you think so many people are illegally pouring across our Southern Border? Because of the poverty here?
I just 30 this year and have just under $40k in my own 401k and another $10k between my other retirement accounts. My wife has about $41k in her retirement accounts (she is not currently working). I currently make close to $63k a year. I only do 5% though to my 401k for the company match and another 10% of my income is split between an HSA and a ROTH IRA
51 years old. I have $295,588.25 in my Fidelity retirement account. I cranked my contributions up to 35% and I do all the investing on my own. Fidelity just holds my ETFs/stocks. I made that change earlier this year. I'm hoping to end the rat race by 60 but it's looking more like 63-ish. I want to have $1.5M and bring in about $60k in dividends each year. Pedal to the floor! Thanks for the video. Great content
I completely agree; I am 60 years old, recently retired, and 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!
As a new investor it's always great to hear from a person who has gone through all the difficult times and come ahead of it. What are some strategies i can employ to be successful?
Natalie Marie Tuttle is my Advis0r. She has since provided entry and exit points on the securities I concentrate on. If you want to check her out, you may do so online. I usually trade in accordance with her strategy.
I retired five years ago and my worst fears regarding inflation have become a reality. I regret not seeing this documentary sooner but I can't beat myself up over it. I'll do the best I can moving forward.
Excellent journalism. This was very very informative! Two year ago, I resigned from my job for the very reasons laid out here! Selling junk to clients is difficult to reconcile with your integrity. All in the name for higher commissions and bonuses!
I am glad there are people like you. I have a family member that does this job and making tons off of people with no actual service to them and its sickening.
CLAPPING! I left corporate America [banking industry] for the same reasons. I'd also learned in college [80's] that the government will have depleted social security by the time my generation [1964] reached 65! OUCH! I had no intention/plan to work until 65 and became an entrepreneur.
Most Americans find it hard to retire comfortably amid economy crisis. Some have close to nothing going into retirement, my question is, do I pull cash from my 401k and buy a house, or spread my money in stocks for cashflow? I'd love to afford my lifestyle after retirement?
Lately, I've been contemplating retirement, uncertain whether my 401(k) and IRA will ensure a secure future. I've also invested $200K in the stock market, experiencing fluctuations without substantial gains.
It is advisable to save at least 15% of your income in a 401(k). Online calculators can help you estimate the appropriate savings amount based on your age and income. By saving at least 15% of your income in a 401(k), you can work towards a comfortable retirement. This strategy allows you to benefit from compound interest, potentially growing your retirement savings significantly over time.
If you’re new to investing or have a more complex financial situation, It can be helpful to work with a financial advisor who can provide personalized guidance and help you make informed investment decisions.
On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal port-folio of approximately $750k 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 and profit from my port-folio this red season. I’ve made over $150k since then
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
I'm 72 and a retired nurse. I was a single parent. I've always lived below my means. Drove a used car. Lived in a small cabin that was paid off. Ate simple food. Wore inexpensive clothes. Paid for my college with cash, so no student loans. Saved money and invested wisely. I am able to pay my bills and live a decent life. I am grateful.
Nursing education 50 years ago: $150. Cabin 50 years ago: $1200. Nursing degree today: $40,000 +. That Cabin: $1 Million. I don't care what clothes a nurse wears today, they ain't paying for their education with cash, or living in anything besides a tent unless someone sets them up! Be grateful...that you weren't a student and a single parent trying to buy real estate and an education in 2022
The catch is that one cannot enjoy life the same way when you are in your 20s, 30s, 40s or even 50s. What is the point of barely enjoying life when you hit past 60s. It is cruel.
But all of you on this thread dont understand that you guys earn more than she did back then...if you live frugally it is possible to do what she did ...if you have any debts first order of business should be to pay them as fast as possible otherwise they leak all the money you have
I just want to take a moment to thank Frontline. I watched the original broadcast in 2013. I was living in poverty at the time. Fast forward 7 years to 2020 and I finally had money, for the first time in my life. I opened an IRA and maxed it out for 2019, then a few months later for 2020. And again for 2021 and 2022. I haven't accrued much interest yet, but I know I'm in a better place financially than I would have been in had not seen this broadcast. Thank you.
@@ez-g3090 You're only allowed to invest a certain amount each year so he's putting in the max amount each year. Now if you have a business, a solo 401K or a Sep IRA allows you to contribute alot more than individuals can contribute to an IRA. This country loves business owners but I would research that to figure out which works best for you.
However, he is also the owner of a small company and he appears to know shockingly little about the 401(k) plan he offers his employees. Who are his plan's trustees and are they bonded? They are required to be fiduciaries. Does Mr. Smith hire an advisor for his plan? Does the plan's advisor offer guidance to employees who need some help developing a retirement plan or choosing investments (two very different things)? Mr. Smith paints himself as a victim of the system but as a business owner, he is also partially responsible for the success of his employees' retirement.
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.
Those sound like great picks! consider financial advisory so you don’t keep switching it up, top 3 payers for the month were $OHI, $KMI, and $EDP... not bad for 350k
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 14.3%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an advisor.
I'm intrigued by this. I've searched for financial advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
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.
Imagine if we would have invested into something else 8 years ago. Imagine if we would have switched into apple shares or google or even the bloody crypto. Where are we now? On the hand of the faulty and greedy financial system...
@@dorin.dumitru Something other than what? On average, you're not going to beat the market (and therefore, the market index fund). Looking at how some assets did better is pure hindsight and a path to ruin.
@@crand20033 - most crypto investments are a complete scam, and all are very volatile (risky). Bitcoin has matured as a way to pay for some things, but all the little new "currencies" cropping up would be a crazy place to put retirement funds. If you're into gambling, you'd probably have a lot more fun playing Blackjack and the craps tables in Las Vegas.
I watched this about 7 years ago when I was in my 30's and didn't have any retirement funds in my name. I started and now I've got over 100k. It was aggressive though and I changed careers. Became a nurse and worked lots of overtime etc.
*I'm 52 already and i already have a portfolio good enough to take of myself and my grandkids😂.Trading comes with alot of benefits and I just bought my first house this month through it, as a beginner i was scared at first, but I'm glad i took a bold step that is now favouring me*
Hey👋Sorry for late response I apparently used the FIRE movement to put my finances in shape you can research more about it and invested in Stocks and forex with the aid an investment enthusiasts Alvarez Harry Flectcher
Speaking of success, I think I am blessed, otherwise I would never have met someone as perfect as Alvarez Fletcher. He has saved me a lot and is a blessing to my family.
He approached trading in a completely unique way and I am so amazed by his method. He just seems to have an innate understanding of this trading world. Without a doubt, I started with £3,000 and the rest is history
I always knew index funds were the way to go but for some stupid reason I look at past performance and completely ignore admin/exp fees. The example of how much 2% eats away is eye-opening. Thank you for this very informative and important segment.
I'm really fond of Warren Buffett too! He hired me, paid annual profit sharing, provided a pension, and his HR department was attached to Vanguard too. Saved my life actually.
I would say that the O'Shaughnessy's are unsung heroes as well. In What Works on Wall Street and Millennial Money there's a great argument made that both debunks the random walk theory and shows how reliance on the conventional measures of risk predicated on it hamstrings institutions ability to invest rationally.
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 determines a lot of things, my parents both spent same number of years in the medical profession, my mom was investing through a financial advisor while my dad through the 401k. On retirement, my mom retired with about $5million, while my dad retired with roughly $3.8million.
You are right. I’m in my mid 50’s now, my wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with profits over the years, but at least I’m earning more. I’m making money even before retiring and my retirement funds has grown way more than it would have been with the 401k.
It’s unfortunate most people don’t have such information, I don’t really blame people who panic cos lack of information can be a big hurdle. I’ve been making more than $25k passively by just investing through an advisor, and I don’t have to do much work. It doesn’t matter if the economy is crashing, great CFA will always make good returns.
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
I also keep seeing lot's of people testifying about how they make money investing in Stock, Forex and Crypto Trade(Bitcoin) and I wonder why I keep loosing. Can anyone help me out or at least advice me on what to do.
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
Thank you for finally making these available on UA-cam. I hope you rake in the dough from all the views. This episode is still relevant today. I'd really love to see an update, though.
I just turned 48 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 55. How best do I maximize my savings of over $110k
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
Many people often underestimate the effectiveness of a financial adviser in planning for retirement. Over the past 5 years, my FA has consistently restructured and diversified my portfolio and expenses, resulting in over $1 million in gains. While it might not seem like a huge amount, retirement now feels within reach.
Thanks for sharing your experience! I’ve been managing my portfolio myself, but it’s not working out. Do you have any recommendations for a good investment advisor? I could really use some help.
My CFA, Judith Lynn Staufer, is a renowned figure in her field. I recommend researching her name online; you’ll find all her credentials and everything you need to work with a reliable professional. With many years of experience, she is a valuable resource for anyone looking to navigate the financial market.
I just looked up her website on google and I would say she really has an impressive background in investing. I have sent her an email hope she gets back to me soon. Thanks
We should also do our best to educate people on the importance of taking their health seriously to reduce the financial burden of failing/ill health. Besides conventional methods, active retirement planning should also be encouraged. We all know how slowly and nonchalantly governments react to things like this and as such we should do the best we can from our end.
That's very true. Besides IRA and 401k, are there other ways we can prepare ahead of time for our retirement? Mine draws nearer by the day and I'm gradually going into panic mode
There's no need to panic. The simplest way is to save more and invest those savings in profitable ventures (you must either be very informed or get the services of a professional so you don't end up losing your savings). I made my first million last year only through something as casual as Stocks and with less than 5 years left to retire, I don't have much to fear. Goodluck!
...Very sound and realistic... You mentioned investing and using pros, if its not a problem. do you mind telling if you used one or recommending a good one? I could definitely use external help right now... I look forward to you replying..
Funny enough, I can honestly relate. Yes, I used one as I literally know next to nothing on the subject. For the professional, I don't know if I am permitted to go into details here, but you should start by looking out for those from reputable brokerages and good track records. Mine is Burroughs Walter Anderson though
@mrmoore, I know this dude. Shared a block at my former workplace. a friend who he worked with always spoke highly of him. i actually didn't understand how because he seemed so easy going
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.
This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's 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 $30k 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 think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.
My financial advisor is Lisa Angelique Abel . I found her on a CNBC interview where she was featured and I reached out to her afterwards. She has long helped me with my portfolio
The update is simple. Young people do not want to invest for 40 years and retire. They want to get rich today. So they take on more risk with unproven ventures like Bitcoin.
This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube 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 really worried.
Not a lot of people are able to save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
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 $800k
My CFA ’Amy Desiree Irish’ , 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.
When this was first aired, millions watched and ended up saving tens or hundreds of thousands of dollars by switching to index funds. Now, right before he died, John Bogle was saying they've got too big. It was a site to watch this, and many can thank Frontline and John for steering people in the right direction. Today, it's not so easy. The future is murky
@Veggie Madness I calculate what I need to survive 20 years of retirement. If I live longer, I won’t need much cash anyway as I’ll be too damn old to move around as freely. True, many people die early into their retirements. It’s just luck so accumulating obscene amounts is futile. Enjoy your current lives too. Balance it. 😉
I wasn't finanncial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investng in the fiinancial market is a grand choice I made. Great video! Thanks for sharing!
I understand that tomorrow isn't promised to anyone, but investng today is hard for me now because I have no idea of how and where to iinvest in. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path?
@@drrami757 your handler must be really good, I have seen testimonies of people using the help of inve stment advis0rs in making them more flnancially stable. Is it okay to ask how to get in touch with this Dawn Marie Gatti?
@@laurenlondon848 look her up on the internet with her name. she's quite popular for her services as she was recently featured on bloomberg. She can actually work with anyone irrespective of where you're located.
Investing is nice. But the real money is not in the investing. It is in the services and fees on other peoples investments. They only teach that in the Ivy schools.
They make sure to keep people in the dark. I have 2 millenials and I educated them: we learned the hard way; we should educated our children to stop the bleeding.
*I'm 50 years old and living in Canada Alberta I'm willing to retire at 55 if things keep going the way I planned bought my first house last week I'm glad I made a productive decision that has changed my financial status forever and can't be more proud that I'm right now*
Hey sorry for late response I apparently used the FIRE movement to put my finances in shape you can research more about it and invested in Stocks and forex with the aid an investment enthusiasts (Alvarez. H. Flectcher) therefore making my dream a reliaty
Waking up every 27th in 2months time to receive $150k is amazing he is very professional broker trade with him and remember to share testimony with others
He approached trading in a completely unique way, and I'm so puzzled by his method. He just seem to have an innante understanding of this trading world. Without a doubt, I began with $10k and the rest is history
Alvarez Flectcher strategies works perfectly, I don't actually know him in person but his strategies is good up to date Made my first $200k trading with him
Who is this professional broker everyone is talking about I always see his post on top comments on every UA-cam video and Twitter page I watched please is there any media handle I can contact him?
My Econ professor in college, would say " A broker only makes you broker" He handles his own stock, he was a multimillionaire teaching college just to keep busy. It took him 33 year in the stock market to get financial security.
@@magnanomac456 This is the type of thinking that will keep you from reaching financial security. If things really go sideways then money won't matter so why not invest for your future assuming things will get better? If it gets so bad that money doesn't matter then no harm done. If things start getting better and you haven't saved and invested for your future than you will be working for the rest of your life.
🌹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
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
You don't have to be surprised, That's exactly his name( Alvarez Harry) so many people have recommended highly about him I'm huge beneficiary of his platform from Brisbane Australia 🇦🇺
I'm a bit perplexed seeing him been mentioned here also Didn't know he has been good to so many people too this wonderful, I'm in my fifth trade with him and it has been super
This video must be watched by all employees in all companies whether they have 401k or not. This should also be shared in colleges so before millions of people get into the workforce, they learn what it takes to save, investing right products and understanding the fee structure so that they know what they will get when they retire. Excellent program.
madras61 Back in the 1980's, there were courses like Home Economics and Personal Finance that taught these topics, plus budgeting, credit in high school, at my high school in Greenwich, CT.
This is one of the most important financial shows ever made. It changed my life and it should be watched by every American. Although I do not agree with all of Frontlines' views, I am forever grateful for this episode. Cheers!
i'm 57years old and already have $670,000 saved and I'm about to retire in two years but I'm worried about rising inflation. Is this enough for a very good comfortable retirement,I’m looking at investing in estates and stocks maybe
Let's face it... buying more stocks & index funds during stock market corrections and bear markets is scary. Which makes it really hard to do for most people like me. I have 260k i want to transfer into an S&P isa but its hard to bite the bullet and do it.
You need a Financial Advisor my friend so you don't get ripped off in the market. They provide personalized advice to individuals based on their risk appetite, placing them among the best of the best. There are bad ones, but some with good track records can be very good.
Got laid-off at 52 just after covid-outbreak, and at once hired an advisor with grit to help stay afloat. I've been fortunate enough to achieve a 10x return compared to my previous efforts as a DIY investor, summing up nearly 85% ROI as of today.. My best so far!!
I've stuck with Melissa Terri Swayne for some years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
@@femiairboy94 what does that have to do with her portfolio then? As long as as she never touched it and contributed the minimum she doing better than 90 some percent of the US population. People adapt to those sort of things and even get tax incentives. Good try though.
When I turned 50 years old I graduated from Nursing school. I Never saved a dime until then. I Started planning my retirement in the Philippines 🇵🇭. With my girlfriend who is a filipina we bought land and built 2 different houses in different locations in the Philippines. When covid hit the Philippines and they locked down I had started my paperwork to receive my social security checks. On April 1st 2021 I was 62 years old. I stopped everything and continued to work until the Philippines opened up from lock down on February 10th of 2022. I started back up my Social security checks in March of 2022. Getting my first check in April of 2022. I now live in the Philippines 🇵🇭 full time and plan to visit family and friends once a year traveling in the U.S.A. 2 months out of the year. Not having to pay rent but owning my own homes in the Philippines makes a huge difference. I live a comfortable middle class life now. Living expenses even with inflation of 5% here in the Philippines is about $1,200.00 dollars a month I can still put money away to save for the things I want to do and have. I started planning at 50 and now at 63 I no longer work and live a stress free happy life. I and my girlfriend are planning our wedding in October on my birthday. Life is wonderful, I'm living my dream. Good luck to those folks who started planning late in life to retire as I did. 200 different country's in the world 56 that speak English as a second language, several where the cost of living is far less to live in then in American. I made my choice I could live a poor life in America on $2,200.00 dollars a month or live a good middle class life owning my own 2 homes in the Philippines . I choose the Philippines 🇵🇭. Life is wonderful.
My wife and i live and work here in Canada, we were both born and grew up in Philippines, and we are planning to do the same like what you did, that when we retire, we will go back and forth between these two countries. We didn't have enough retirement money. In fact, i put my monthly RRSP contribution in high risk and it slowly growing. Sometimes i gained but most of the time i lost. I can't withdraw money early because i will be charged with surrender fee. I am planning to make a business in Philippines but i have to go back there first and study the matket. My wife's and my pension would be, well, hopefully will be enough for us to retire in Philippines.
@@TheChromelover I'm 64 she's 41 she's committed to me and content, we know at some point my sex drive will slow down as I get older. When and if that happens I will use the little blue pill We've tried that a few times already just to enhance our love making and it works great, I've talk to a few expats and watch a volgger say they are taking TRT shots once a week. If it comes to it I will try that as well. For now she's happy 😊
I remember meeting with an investment advisor in my workplace cafeteria circa 2010 and me insisting to him that my 401k be invested entirely in an Index Fund. He moaned, tried to talk me out of it and then essentially told me to get lost. Why? Because he couldn't make money off my hard labor.
I retired at 53 now, 55. I have close to a six-figure portfolio, 70% income uk 🇬🇧 stocks, blue-chip companies, the rest in growth etfs sp500 nasdaq global technology, etc. I still like the growth aspect of investing but as my grandkids would inherit all this how best does all this get best managed for better returns?
My 401k went 100% in the S&P 500 when I started working in 1989. Left 100% alone till 2007 before it went to 666. Because of my 17 years in the 500, I was able to retire this year with $683k in the 401k (and a pension and rental income). There is no other way to retire before you are 70.
Absolutely! Wealth is made in growth investing . We aren’t in a bear market, but nibbling heavy red days has proven to be fruitful for me over 9 years of investing. I am at 2.25 mil. Biggest positions PLTR, TSLA, SCHD, NVDA, and now looking to build up DRGO alongside finding quality value/growth stocks to buy. I got $48k divs last year in taxable divs. Q3 taxable divs this year was $18,388 this year. Don't sell when the market is down. Having a skilled CFA that puts the time in to do in-depth research can be invaluable in strategizing your portfolio.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Amy Desiree Irish ” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
RIP Jack Bogel. Mr. Bogel's brilliant insights hugely contributed to this broadcast's creditability. Excellent presentation, Frontline. Your layout of the retirement crisis, which still exists today, was exemplary!
@@Stoneface_ So? Not everyone wants to be an active investor... that's the point here, we have jobs - are busy enough with hat and our families -and would rather have someone else do it for us, "noobs"...grow up.
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
'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.
*I also just got my retirement funds and I have these guys to thank because I didn’t have to pay any tax that was included in getting it all out , it’s time to start an invstment*
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------IF YOU WANT TO GET YOUR FULL 401K RETIREMENT FUNDS WITHOUT HAVING TO PAY THE TAX INVOLVED YOU SHOULD LOOK AT VCORPINVEST▫COM ON GOOGLE , THAT COMPANY DOESNT FOLLOW THE USUAL RULE AND ARE ABLE TO GET YOU YOUR FUNDS WITHOUT PAYING TAX
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------IF YOU WANT TO GET YOUR FULL 401K RETIREMENT FUNDS WITHOUT HAVING TO PAY THE TAX INVOLVED YOU SHOULD LOOK AT VCORPINVEST▫COM ON GOOGLE , THAT COMPANY DOESNT FOLLOW THE USUAL RULE AND ARE ABLE TO GET YOU YOUR FUNDS WITHOUT PAYING TAX
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------i HAVE PERSONALLY USED A COMPANY CALLED VCORPINVEST▫COM TO WITHDRAW MY 401K RETIREMENT PLAN WITHOUT HAVING TO PAY TAX AND THEN I PULLED IT ALL INTO INVESTING IN THE STOCKS MARKET , ITS BEEN 4 MONTHS AND I ALREADY MADE 235K USD
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------i HAVE PERSONALLY USED A COMPANY CALLED VCORPINVEST▫COM TO WITHDRAW MY 401K RETIREMENT PLAN WITHOUT HAVING TO PAY TAX AND THEN I PULLED IT ALL INTO INVESTING IN THE STOCKS MARKET , ITS BEEN 4 MONTHS AND I ALREADY MADE 235K USD
Wow....what a great episode of Frontline. I learned from my dad at a very very young age that you have to take care of yourself and that no one is coming to save you. Self made business owner and dividend growth investor here. Already financially retired because I understood this from a kid.
@@MV-kr2se His YT Channel says... Owner of a company that manufactures aluminum ADA compliant handicap ramp systems. We do not sell our products but lease them to businesses, institutions and government facilities across the state of Florida.
I have forgotten who it was, 30 years ago, that steered me to invest regularly into Vanguard index funds. I was lucky, but I was also persistent in my contributions. My retirement is financially extremely secure, and I will have plenty left over when I pass away, for my children.
Nice work same here too. I was told by my father , it’s easier to be poor when your young. Time and compounding interest is the key. Also , “never get out of the market”. Jack Bogle
It really isn't that hard to live below your means for your working life, save the excess and invest it in a low cost indexed fund. You then retire with plenty of money to live comfortably. Problem is, the average person is completely financially undisciplined.
NO MY COMMENT SHOULD BE MANDATORY IN SCHOOLS Firstly most of the 'victims' here were greedy-they were trying to obtain ridiculously high returns that could only be offered by cowboys. Next, the real reasons companies stopped paying final salary pensions is because they became fantastically expensive to pay for. That's why so many American companies outsource their jobs-it became far too expensive to pay American workers(and Europeans too) as we insist on retiring from 60 onwards when most people will love till their 80's and 1 in 2 people born today will live to 100. The maths just does not add up. You cannot work for 40 years then expect a pension for 40 years that is inflation linked and tied to your final salary. The public refuse to pay more or retire later-well guess what-the promises that have been paid CANNOT be honoured-there is just not enough money to do that. The BIGGEST reason is that 'public sector' workers are just damn greedy. They expect everyone to pay into a pension plan for them that most people can NEVER hope to get-good luck with that-the public will rise up against it. The public sector is far too big and the salaries are off the scale. Police officers earning over $150k in California, Principles $500k-it's crazy and CANNOT be paid for-we have the same nuttiness here in Blighty too. This documentary wants to push the narrative that the Government is the solution to the Pensions crisis-the Government CAUSED it!! The only way for people to retire comfortably is to keep your savings outside of the banking system-they will confiscate it when the next crisis comes and believe me it's coming. And guess what folks-NO ONE WILL EVER LOOK AFTER YOUR MONEY THEY WAY YOU WILL SO DO IT YOURSELF-TAKE RESPONSIBILITY, SWITCH THE TV OFF, STOP FIXATING ON BS AND START FOCUSSING ON YOUR LIFE!! And Finally-Never trust anyone with your money-WATCH THEM LIKE A HAWK AND THAT INCLUDES FAMILY-EVERYONE LOVES SPENDING OTHER PEOPLES MONEY!!! BUY GOLD AND SILVER-IT'S THE ONLY REAL MONEY!!!!!
It's why our schooling system is a joke. Notice how they do t teach anything that applys to being successful or how to spend and use money. The most important things in life it doesn't teach at all. Instead they give you art class and useless algebra, something you will never use in your life. They system is deliberately designed to keep the poor poor. And special schools for the rich to give a real education. We live in a plutrocracy not a democracy. 2008 80% 9f America was against the bailouts and it was voted no by the house, despite all that it was passed anyway which was illegal becaise the house voted no
It is up to the parents to educate themselves, and pass that info along to their children. We should never depend on schools to do all of the necessary education in life.
I’ve been retired 2 years and my entire 401k is/was in 3 different Vanguard low fee index funds. They are totally the right way to go. I looked at active management funds but the fees were ridiculous. I’ll lose my own money and NOT pay someone else to do it!
Of course, the less monthly expenditure, the better. But if you own a house, you still have to pay property taxes and insurance, which can be significant. So, best to downsize, to keep those costs down. And, in reality, if your mortgage rate is lower than the rate you are getting from your investments, you’re better off keeping the money invested, rather than using it to pay off your mortgage. Then you pocket the difference.
@@gj6792 If you own your house there is a lot of risk you mitigate by not having that cash in investments. If you are smart enough also to own after downsizing and even moving to a non tax State you SS should be ample to pay for any house maintenance and property taxes. Again you need to have a baseline in retirement and owning your place of residence is a great baseline.
My mortgage was paid off before I retired only bills I have are my utilities house and car insurance real estate taxes since I have the senior freeze my taxes are very affordable I made sure I had a new roof on my house central air and furnace all paid for with cash. I am able to live on just my social security without having to take any money out of my 401k or Roth IRA
I retired from a Government job a decade ago. I live very frugally. I just did the math and see that I have received so far roughly $344K with my pension and SS (which is lessened due to the WEP), including my medical benefits. I've completed a Chapter 13 Bankruptcy, and dare not move from my home of 35 years due to my low fixed-rate mortgage payment. The average rents in my area are about 75-80% of my monthly pension. I knew I would never be able to save what I would need for retirement, which is why I went with the path I did. But I had no idea that retirement would be this financially challenging, or that I would ever need anywhere near this much just to exist at a base level. I add my warning to the message presented in this program. Please, plan ahead for this time in your life.
They’d lose their job if they agreed. They know the facts, they just won’t say it. - The fact that that one retirement planner lady, said “I didn’t know the S&P500 beat actively managed funds” was a complete lie. - I’m 20 years old, a kid, and even I know, that actively managed funds underperform the market. It’s common knowledge, well, should be.
As an investing enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.
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.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
I'm scared about retirement as I turn 60 on my next birthday. I need to ensure I have enough money to survive on. How can I consult your advisor? My retirement account isn't performing well.
NYCOLE CHRISTINA VANNATA 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.
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.
It would be great to see a similar documentary on the inner workings of the social security administration. As US citizens we pay 6.2% to 12.4%(self employed ) yet we do not receive the compounding benefit in our return! Run the math on your “investment” in SS over the life of your work history verses what you will receive in benefits.
....not only that, but if you're a Gen Xer or later, it's *quite* likely you won't even get the benefits you *in theory* were entitled to by law (they won't be taking in enough money to cover outlays under the current way it's funded)... SSI was a ponzi scheme the day it rolled out, and it required an ever growing population of workers to remain viable.
A big problem is that the contributions are capped, so the rich are paying far less than 6.4%/12.8%. And as the income disparity grows, the percentage of US income going to social security falls.
That's what happens when the kids of rich people can spend 14 000 pounds on small hand bag as a whim. It is a greed game. People in each corner of the planet are constantly bombarded by media with LGBT, religions, political parties so we are divided by as many factors as possible so the rich get richer and richer while the poorer and poorer keep chasing disappearing jobs. SOUNDS LIKE FAIR DEAL TO ME.
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $560K for sometime now, my major challenge is not knowing the best entry and exit strategie;s ... I would greatly appreciate any suggestions.
For the average person, the strategies are fairly demanding. In actuality, most professionals who have the necessary expertise to pull off such trades effectively carry them out.
I agree , I assumed I had a hang of the market at first, I gained $50k one year and I was super elated, not until I stumbled upon a portfolio-advisr whose been guiding me since the market's been sham after the pandemic, to my utmost surprise I netted a whooping $280K during this dip, that made it clear there's more to the market that we average joes don't know
I agree , I assumed I had a hang of the market at first, I gained $50k one year and I was super elated, not until I stumbled upon a portfolio-advisr whose been guiding me since the market's been sham after the pandemic, to my utmost surprise I netted a whooping $280K during this dip, that made it clear there's more to the market that we average joes don't know
Had a good run during my first year in the fin-market, I assumed I had a hang on it. However, things changed during the pandemic, and I needed to diversify into safe assets, so I approached a coach who devised a structure that matched my annual goal of 200k
Although my knowledge of the business is limited, it seems that this is the ideal time to enter the market based on my understanding of supply and demand in the economy. The consistent price variations, which shouldn't be an issue, are the only thing stopping me. But I really need a counselor; could you please assist me?
*I finally got to receive all my retirement funds amounting up to 200k all at once without having to pay tax , im done working and its time i invest all of this*
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------IF YOU WANT TO GET YOUR FULL 401K RETIREMENT FUNDS WITHOUT HAVING TO PAY THE TAX INVOLVED YOU SHOULD LOOK AT VCORPINVEST▫COM ON GOOGLE , THAT COMPANY DOESNT FOLLOW THE USUAL RULE AND ARE ABLE TO GET YOU YOUR FUNDS WITHOUT PAYING TAX
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------IF YOU WANT TO GET YOUR FULL 401K RETIREMENT FUNDS WITHOUT HAVING TO PAY THE TAX INVOLVED YOU SHOULD LOOK AT VCORPINVEST▫COM ON GOOGLE , THAT COMPANY DOESNT FOLLOW THE USUAL RULE AND ARE ABLE TO GET YOU YOUR FUNDS WITHOUT PAYING TAX
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------i HAVE PERSONALLY USED A COMPANY CALLED VCORPINVEST▫COM TO WITHDRAW MY 401K RETIREMENT PLAN WITHOUT HAVING TO PAY TAX AND THEN I PULLED IT ALL INTO INVESTING IN THE STOCKS MARKET , ITS BEEN 4 MONTHS AND I ALREADY MADE 235K USD
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------i HAVE PERSONALLY USED A COMPANY CALLED VCORPINVEST▫COM TO WITHDRAW MY 401K RETIREMENT PLAN WITHOUT HAVING TO PAY TAX AND THEN I PULLED IT ALL INTO INVESTING IN THE STOCKS MARKET , ITS BEEN 4 MONTHS AND I ALREADY MADE 235K USD
My wife and I did very well in the amount of money that we amassed for retirement. Well over 80% of that money was made because of taking advantage of buying high-end stocks at a deep discount during the Great Recession. 2009 I fired the stockbroker got rid of all mutual funds and bought individual dividend stocks. Be patient don't get scared and do your homework and you can make a killing.
I am 54 years old and my wife and I are very worried about our future, with gas and food prices rising every day. We have seen our savings dwindle with the cost of living in the stratosphere, it is impossible for us to replace them. We can manage, but we can't move forward. My condolences to everyone retiring in this crisis, all those years of working just to lose it all in a crisis you didn't cause.
@@alexyoung3126 I feel your pain mate, as a fellow retiree I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an investment advisor "Eileen Ruth Sparks" this year for assistance, and following her advice, I poured $150k in passive diversified safe-haven assets and its yielded $325k so far. Nothing special, just proper diversification and a cut loss and take profit strategy.
I think it's especially difficult for retirees and near-retirees, I know to focus on the long term but the anxiety when you're supposed to retire in 3-5 years is exhausting. it is difficult for me to participate in the market right now due to the full-time nature of my job. it will be too stressful to combine so I don't even think about it
I start my first job in 2000. I had $75,000 in my 401k in 2004 and I felt proud. 2009 my 401k went all the way back down to $75,000. Four years wasted. I continued to max my 401k contributions. My 401k took off like a rocket between 2013-2021. Even with the 2022 being down, I have only "lost" half of my 2021 gains. I want to also let the young folks know to keep investing.... don't listen to the media...they are playing with your emotions for attention.
My organization used to offer a really generous pension, but it required 6% contribution by the employee. For an example, if you retired at 60 after 20 years of service, you were guaranteed 50% of your highest salary for life (and more with more years of service). Over the years, we started losing out on more and more workers because they "didn't want to contribute to the pension". This got so bad, that my company eventually did away with it in favor of a 401-K program. I really feel like the workers screwed themselves in this case. I will retire in two years with my pension and knowing I will have this income has given me so much peace of mind.
A black hole is still a black hole. No guarantee that employer can pay that pension. When the math goes sideways and the rules of the game are fudged with, the output is fubar. I'm sure your pension is fine though.
Many employers demand employee loyalty, but give none in return. After decades of corporate bean counters inventing new ways to screw over employees to wring more profit out of them, fewer employees these days have confidence that they will be with the same firm or union for 20+ years to even collect on that pension.
@@manmeetworld Well, all pensions are guaranteed by the federal government, so even if something went wrong I would get something. That's not true of stock market investments.
@@rpgspree So true-- it still has to be a good place to work and a lot of things have to happen (or not happen) to allow you to have a 20 or 30 year career somewhere and sadly that just doesn't exist in most situations. Our pension vests in 5 years so that would have been the minimum someone who need to spend at my org to get a paycheck in retireement (albeit a small one).
That's too bad. I would have applied to work there. Goodbye pensions. The biggest benefit corporations used to have. Now no one stays at companies very long anymore due to lousy benefits or no benefits at all! I tried to stay at a big corporation. After 10 years they took away all the great benefits! I left like so any others did. Now I have worked at over 10 different companies over the past 16 years. Why? It's the only way to keep my salary increasing faster than inflation. I'm sure I'm not done changing employers.
I plan to retire or reduce my work hours in five years, and I'm interested in how others allocate their income between savings, spending, and investments. I currently earn about $175K annually but haven't built up much in savings so far.
There are numerous strategies to achieve high yields during a financial crisis, but it is crucial to undertake such trades with the guidance and supervision of a professional financial advisor to ensure informed decision-making and risk management.
That's true. I've been assisted by a financial advisor for almost a year now. I started with less than $200K, and I'm just $19,000 short of half a million in profit.
Nicole Anastasia Plumlee is the coach that guides, you probably might've come across her before I found her through a Newsweek report, she's quite known in her field, look-her up.
I have had Vanguard for 14 years and am admittedly late to the retirement party, but when I did research on mf vs Index funds 5 years ago and then sold & switched most of my portfolio tp IF, i am now doing much, much better and catching up.
I only wish I had found Bogle sooner. Ever since I ‘discovered’ fees & indexing my retirement savings began to really grow. I feel the people in this show and others.
Another excellent documentary from FRONTLINE. It should be must viewing by everyone working. Unfortunately, the fallback position from nearly everyone interviewed about their own retirement is, "I'll just have to keep working until I'm in my seventies." But, the likelihood of that is slim to none. During the 80's, companies dumped defined benefit pension plans and replaced them with the 401K. Around the same time, business schools and management were embracing short-term financial metrics as the performance standard. Of the traditional stakeholders (Owners, Customers, and Employees) Owners became king. Today, while companies mouth the line, "Employees are our most important asset", they routinely turnover personnel in 3 to 5 years and anyone between the ages of 50 and 55 are "encouraged" to become successful elsewhere. Working into your seventies at comparable a position is about as rare as a pension.
Working into our seventies will become increasingly unlikely for most Americans as we are moving into an AI automated future. One possible solution is to shorten our life expectancy ;-).
Just look at the present role model for business. Amazon believes in their actual company documents that a warehouse worker has a 3-year working lifespan. In other words we plan on working you so hard that you have a health crisis or simply cannot keep up within 3 years. No there is no working until 75 in that market. You'll be lucky to work till 40 in that market. Walmart and other convenience stores aim for 5 years. And then where do you go... Not their problem. Right now they are protesting because workers are not going back to minimum wage jobs and they're talking like we just need to do away with unemployment insurance entirely and see if people starving give in. Literally I was watching the hill this morning and they were talking about how workers only have a limited window of opportunity to get better jobs or better wages for their jobs because desperate people will do anything including taking bad jobs. And I'm left wondering do they not think of the other thing desperate people do?
Our tv executives and stock markets CEO’s are in bed with the establishment their jobs are brainstorming and convincing their audiences while they are yachting in Cayman Islands.
People who are able to retire early are lucky . I have 15 months till 65 and need to look at calling it quits, my only fear is running out of funds much later, thus keen on investing. What could be the safest possible ways to invest for cashflow, in order to afford lifestyle after retirement?
That's right. I am a wife, mother of four and new grandmother, 28 years in Corporate America, retired recently at 57 after discovering the freedom investing could provide, been contributing to my portfolio since the pandemic in early 2020, and have grown a $250,000 savings account to almost 1 million, credits to my investment advisor.
“LAURELYN GROSS POHLMEIER ’’ 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.
OMG this was very informative and mind blowing 🤯 I recently questioned my retirement provider why my Kiwisaver retirement savings have remained the same amount for the last year and the answer I got was very vague 🙈 thank you so much for this documentary it is really helpful even for us that live outside the US 🙏
I think it is because you buy “shares” and if the share price goes down, you lose value. But when the shares go up, you should make it all back and more. But nobody knows when shares will go up or down.
This episode right here. Completely changed my financial future. I can not fathom what my life would be like if I didn’t watch it when it came out. It made look deeper into my program, however it mostly introduced me to jack bogle
When you are younger it may sound ok to say you’ll carry on working beyond retirement age, but not when you are at that age. My husband has had a major heart attack and I’ve had cancer. You can’t plan for illness and whether you’ll either want to work or actually be able to
You can get injured through no fault of your own at any time, and be unable to finish your career. It’s important to live below your means and invest so you have a safety net.
In particular, and update on the poorly designed 401k, 403bs, and 457 plans... with a poor selection of over priced funds... especially for employees of schools, universities, and public hospitals. An in depth analysis would be in order.
These days it is easy to set up your own. Roll your old employer plans into your own brokerage. Set up your own Roth IRA, especially when you are younger. Don’t borrow from it or take early withdrawals.
FWIW: When I was in high school back in the early 1970s we were offered an economics course as an elective, which was actually a personal finance course. Great information in that course, taught you about compounding interest (beyond the dry way it was presented in math classes), the stock markets, real estate, loans and financing, and some income tax info (write-offs & deductions). Great, simple information that's still relevant today. Sadly, its gone from today's high schools.
I had one, but I didn't understand it. Sadly, I had a hard time understanding the point and seriousness. Funny how those teacher's and those classes seem to become the most important 23 years later. Huh?
Love FRONTLINE? Watch hundreds more documentaries on our channel: ua-cam.com/channels/3ScyryU9Oy9Wse3a8OAmYQ.html
Can’t help but notice the watch said 30 years too.
Must have been nice, because today if you start working at 18 and stop at 67 (full retirement), that means you had to work nearly 50 years (which also doesn’t take into account all the overtime and side jobs we have to do today just to get by).
@frontline
Can you do an updated version of this today that also highlights how people of color also don't even know how to access or don't even have the ability to ever retire in their lifetime
This was 2yrs ago and yet not one black person interviewed for this hour long special it's almost like black people are less likely to gain access to the type of jobs that offers the luxury of a company provided retirement plan that can help build even more wealth to not be in poverty later in life and not need to work but then again studies show life expectancy for black Americans is 5 to 7 years shorter when compared to their white counterparts so
ossssssssssyyyyy
2:19 Oh stop complaining, ya sound like an antisemitic. Next, you'll be saying thst the jews owns the FED and they deliberately sabotaged your countrys' economy on purpose, while making it looked like it was 'da blacks', LOL. Anyways!!! How's an economist clueless about the state of his own retirement? You're an economist, aren't ya? Or as you, as the many, ones that mindlessly buy into the lie?
Frontline, please moderate the comment section for this video. This place is absolutely crawling with bots recommending fake scam advisors. I've reported what I can, but there's too many. I'd hate for any soon-to-be retirees to lose their savings to these scams.
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
The advisor that guides me is 'Tenley Megan Amerson' most likely the internet is where to find her basic info, just search her name. She's established.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call.
Americans and Illegals will be no different from each other.
No Mark, you must find your inner childhood again. How was your idea of peace as a child and grow a world around it.
I'm loving my retirement so far! My wife and I worked hard to reach this point - we're both retired, debt-free, and fortunate to have over $3 million in net worth. We achieved this through a saving and investing lifestyle in the stock market, which now generates weekly income for us. And now, we get to enjoy the fruits of our labor! We're traveling, golfing, and spending quality time with the grandkids. We feel grateful to be living smart and frugal, making the most of our golden years.
Absolutely! I'm in the same boat. I just got back from a road trip across the country. It's amazing how much energy and freedom we have now. Make the most of it, because it won't last forever!
I'm a young dad and I'm really glad to hear your story - it inspires me! I'm still working, but I'm counting down the days until I can enjoy my retirement Years. Can you please share your tips? What's the key to achieving this milestone and making the most of your retirement years? Any tips would be greatly appreciated!
Building a successful retirement requires discipline and strategy. Our journey's key takeaways include starting early, living below our means, diversifying investments, creating multiple income streams, planning for taxes, prioritizing relationships, and maintaining an active and healthy lifestyle.
Additionally consult with a fiduciary advisor, who can help grow your funds, Create a personalized plan and better prepare you for a successful retirement. we are with Tracy Britt Cool Consulting a NY-based fiduciary. Check online if she meets your requirements.
< Additionally consult with a fiduciary advisor, who can help grow your funds, Create a personalized plan and better prepare you for a successful retirement. we are with Tracy Britt Cool Consulting a NY-based fiduciary. Check online if she meets your requirements.
Every family has a person who breaks the chian of poverty in their house hope you become That one, I pray anyone reading this will be successful in life
To be a successful person in life require him or her of hard work and time
Investment is the key to achieving success with the current economic crisis slowing down business aww
I'm honestly surprised about This FIN advisor name being mentioned here. I stumbled upon one of her clients testimony last month in "WION" news and I tried her the returns are massive
I'm a bit perplexed seeing her been mentioned here also Didn't know she has been good to so many people too this wonderful, I'm in my fifth trade with her and it has been super
Thank you, same to you 🙏
Thank you Jack Bogle, for blessing us with your humanity. He has done more for the average investor than anyone in history. Rest in Peace.
I didn’t understand investing But if I could go back. He’s a guy I’d love to buy a steak 🥩 dinner for and listen to his wisdom.
Didn't know he passed away. He looked so vital and perceptive in this video.
PLEASE BE AWARE THAT THERE ARE BOTS HERE (not this comment) BIT OTHERS TRYING TO TRICK YOU SO BECAREFULL< YT is full of this garbage.
Invested in Vanguard today!
@@vornamenachname5589 steak killed him.
Documentaries like this are what make Frontline special.
Yep. BUT the woman who blamed workers by saying "Americans started changing jobs more frequently" was wrong. Firms lied saying "Welcome to the family" etc but then got rid of older workers or workers whose wage increased over time. People saw this and returned the disloyalty with disloyalty. That context needed to be followed up on.
@@6789uiop It’s all an attack on business if not capitalism. We’ll, let’s check on how retirement plans work on Cubans, Venezuelan, Chinese, etc. If anything, it’s about the good old tenet of Personal Responsibility. And if want to talk about government, may I ask how the public system is educating the young financially???? Maybe race theory may include something about that. Hmmmmmm???
@@FARBOLUOS Absolutely. And if there was full information and a more level playing field - it'd be fine. Like arming deer before going deer hunting. Or embargoing Venezuela and then blaming the victims for the collapse of the Bolivar and resultant hyperinflation. By the way, that's going to happen here. Much of the world will like that because we've been arrogant and greedy for a long long time. Enjoy the QE and corporate socialism while it lasts!
@@6789uiop Thank you for stating the truth!
@@LisaHawkinsHotJava ☮
This video is so underrated. Students beginning their career should be required to watch this video to set themselves on the right path.
You're so right! I'm sharing it with a bunch of friends; i hope they get the message.
take investment advice from JIMI HENDRIX:
I know, I know
You'll probably scream n' cry
That your little world won't let you go
But who in your measly little world are trying to prove that
You're made out of gold and -a can't be sold
The problem with this video is it is deceiving and is not honest. For instance having $500 k in a 401k does not mean you have $500k. It means you have about 300k. since the government will tax that 35% + brokerage fees. What if AOC and the Omar get their way?? they will tax your 401k 50-60%
BEWARE!!!
@@mikeraz594 is that why a Roth IRA is the way to go? Untaxed gains?
Don’t know if it is the right path. The right path is the pension system. Current system u pray n say lots of hail mary that there’s no crisis at the time of ur retirement or close to it. Or ur screwed.
Becoming a millionaire through a Roth IRA or a 401(k) involves different strategies for maximizing profits. A Roth IRA offers tax-free withdrawals in retirement, which can be advantageous if you expect to be in a higher tax bracket later in life. On the other hand, a 401(k) provides tax-deferred growth and potential employer contributions, boosting your savings. The optimal choice depends on factors like your current and future tax situation, employer match, and investment options. Consulting a financial advisor can help tailor a strategy that aligns with your financial goals and circumstances.
Prioritizing effective personal finance management holds greater significance than the sheer amount saved, irrespective of income source. Consulting a certified financial advisor can offer tailored strategies to optimize financial results by reducing expenses and enhancing income, regardless of whether it's earned through employment or investments.
I wholeheartedly concur. At 60 years old and newly retired, my external retirement funds total around One million two hundred fifty thousand dollars.. With no debt and minimal retirement fund allocation relative to my portfolio's value over the last three years, I recognize the importance of a financial advisor. Neglecting them isn't an option; however, thorough research is vital to find a trustworthy fiduciary advisor.
This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?
I'm guided by Annette Christine Conte an experienced coach with extensive financial market knowledge. While you can consider other options, her strategy has yielded positive results for me. She offers valuable insights, including entry and exit points for the securities I concentrate on.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
Never watched these documentaries when they aired so appreciate them posting reruns.
This video was produced in 2013, and the market has tripled since then.
Yeah they do a good job at asking questions, love the production of these
Whether it was produced on 2013 or yesterday, the facts are still the facts. Fees will kill your returns. I wish they would have gone more into annuities and how their fees make mutual fund fees look like peanuts.
@@Zafia_Ltd oh wow. Annuities for when someone parents passes while they are young or lottery winning ? I realized mutual mutuals are bad in 2021. I have been contributing to my job retirement plan since 2015. I am in mid thirties so I can still recover. Glad, I did after I quit my job in 2018. I had to move my plan to my local bank and it wasn't growing at all as if it was in a savings account.
@@Stoneface_ meaning it’s better now than in 2013 to get a 401K?
This journalist is brave to put up his own retirement story for all of us to see. Great documentary, albeit a sobering one
I notice ppl are completely honest, transparencies to absolute strangers! It's like EFF IT nvr gonna see this guy/gal again. I'm bare my soul and then chuck em deuces🤌✌️✌️
That's his way of arguing for a raise.
Man it’s profound knowledge. Best documentary ever because it directly affects everyone. Wow. Those fees are hurting people bad
@@howard6433 He owns his company.
Brave!!! Seriously??!!
The bankers / investors interviewed exhibited a lot of nervous laughter as they stumbled to answer the questions and that says it all. I’m moving all of my 401k into Index Funds on Monday. Thank you Frontline. 🙏
Especially Ms. Marcks!
@@sarge7108 I am confused how that lady has a job. That just tells me to say away from Prudential.
All of it? If you're in your 30s, then yes.
When they say that they've never seen anything supporting outperformance of low fee funds or fiduciary advisors is because they are lying. They'd be fired if they answered honestly on camera.
@@bat21win crook
PBS, I would love to see this content again for the 2020's. This was one of my favorite episodes ever :)
They have a pretty significant documentary coming on November 9 regarding the Pandora Papers.
Same here.
Better start donating
You must really like bad news..
@@jakestoe Knowing the truth is better than being comforted by lies, wouldn't you agree? Better to be informed than ignorant.
PLEASE DO A FOLLOW-UP EPISODE. WE WOULD ALL LOVE TO SEE HOW THEY ARE DOING.
This isn't a reality TV show.
Pay attention to YOUR life and don't speak for anyone other than yourself.
THANKS FOR TYPING ALL CAPS SO WE COULD READ YOUR REPLY
@@mathieutyler00 -Your comment was completely unnecessary and infantile. Grow up. If he would like to know how some of those interviewed are faring then how is that wrong? That is just the natural progression of human interest stories.
This is from about 10 years ago.,
@@mathieutyler00 WHY YOU CAPS "YOUR"?
Think Frontline should do an update on this situation. I turned 60 the year this doc came out. Am not really retired yet, at 70+. May work PT till at least my mid-late 70's. Took my Soc Sec early. Still have fairly good health and mobility.
0:26 This program starts by perpetuating a myth. "If you make $100K, you need $1.5 million to be okay." No. What you need to be okay is based on your budget requirements at the time you retire, not on your salary.
I was just thinking that after I finished watching it. I won’t need my salary at retirement if I’m debt free and have less expenses. Medical expenses can be an issue. I suggest opening up an HSA to help with that. You also want to try and take care of yourself now by eating healthy and exercising.
Debt free is the answer
I think it's hard for a lot of people to learn to live on less when they are in retirement.
This is true, but most people find it hard to cut spending much in retirement. It's hard to go from spending $100k a year down to $50k in retirement, especially considering medical costs.
Correct
Index Funds are the way to avoid fees. Jack Bogle saved the individual investor. He's a saint.
Robinhood made trading free. While index funds have their place, I think index funds are slowing becoming outdated. The index funds have a lot of dead weight, environmentally disastrous oil companies and other companies of horrible ethical standards. With fractional shares, you can make your own index and pay 0.000% fees.
@@marka5968 Robinhood sells your order flow. You get terrible fill price and they make money off the difference. Robinhood has no advantage over the countless brokers that also offer zero comossion stock/etf trades (assuming you're in the US).
@@sohu86x I'm saying they were the first to offer fee free trading and make every other also do so. They changed the game.
what I learn from this documentary, Save money while young, and find out what a computer leasing agent is.
@@marka5968 Good luck, you'll be like the people in this documentary who'll be looking at 70+ for work.
The first mistake is thinking that you can trust someone else to manage your money.
Soooo much truth
100%... I get so annoyed at those bank commercials which pretend to care about your financial future
Roger that.
Make sure you get a Fiduciary advisor so they work in your best interest by law.
@@MrBrewman95 doesn't mean that much. Like going to a Toyota dealership and assuming they will be in your best interest legally, when all they know or sell is Toyotas.
My mother died a year after she retired. She worked until 70. What a life. Work hard then die.
That's their plan you finance these Billionaire Parasites for life while they steal yours.
That is poor peoples retirement plan
Gun works faster
My coworker for well over 30 years was set to retire at 55, he was a couple months from retiring. All I heard from him at work was his vision of his early retirement dream. When he visited his retirement home in another state, he had a heart attack and died. So we never know ultimately....reality beats a heavy drum. Taking care of your body is SO important...GET your physicals DONE and stay on TOP of your health....your retirement is related to your healthspan!
I'm confused. He was considering a retirement home and was -- 55?
In high school, they should teach financial planning. Many people have no idea how to prepare for retirement.
The government should fund SS to the point where nobody has to worry about living in squalor when they grow old.
They come out of high school and don't know how interest on a credit card works. Let alone a retirement fund
Firstly most of the 'victims' here were greedy-they were trying to obtain ridiculously high returns that could only be offered by cowboys.
Next, the real reasons companies stopped paying final salary pensions is because they became fantastically expensive to pay for. That's why so many American companies outsource their jobs-it became far too expensive to pay American workers(and Europeans too) as we insist on retiring from 60 onwards when most people will love till their 80's and 1 in 2 people born today will live to 100. The maths just does not add up. You cannot work for 40 years then expect a pension for 40 years that is inflation linked and tied to your final salary. The public refuse to pay more or retire later-well guess what-the promises that have been paid CANNOT be honoured-there is just not enough money to do that.
The BIGGEST reason is that 'public sector' workers are just damn greedy. They expect everyone to pay into a pension plan for them that most people can NEVER hope to get-good luck with that-the public will rise up against it. The public sector is far too big and the salaries are off the scale. Police officers earning over $150k in California, Principles $500k-it's crazy and CANNOT be paid for-we have the same nuttiness here in Blighty too. This documentary wants to push the narrative that the Government is the solution to the Pensions crisis-the Government CAUSED it!!
The only way for people to retire comfortably is to keep your savings outside of the banking system-they will confiscate it when the next crisis comes and believe me it's coming. And guess what folks-NO ONE WILL EVER LOOK AFTER YOUR MONEY THEY WAY YOU WILL SO DO IT YOURSELF-TAKE RESPONSIBILITY, SWITCH THE TV OFF, STOP FIXATING ON BS AND START FOCUSSING ON YOUR LIFE!!
And Finally-Never trust anyone with your money-WATCH THEM LIKE A HAWK AND THAT INCLUDES FAMILY-EVERYONE LOVES SPENDING OTHER PEOPLES MONEY!!!
BUY GOLD AND SILVER-IT'S THE ONLY REAL MONEY!!!!!
@@jeremypeterson705 If the government allowed people to privately invest their money in aggressive growth mutual funds, everyone would retire with $1M or more. My wife is a school teacher (in the lowest paying state in the union). I never made much more than she. Yet at 49 and 56, we're worth upwards of $2M -- if you include our home.
@@Duke_of_Prunes
What happens if you get into an accident or get cancer and the hospital bills eat away at your nest egg?
Recently retired and unsure if my 401(k) and IRA will provide a stable future. i need an approach that will align with my risk tolerance and financial goals, i set aside $1m to achieve this. Do you suggest i get into stocks or buy a rental property?
Look up dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, its advisable you work with a financial advisor to help set up a well-structured portfolio.
I agree. Based on personal experience working with a financial manager, I currently have ($2million) in a well-diversified portfolio that has experienced exponential growth from when i started. It's not only about having money to invest in stocks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
Your manager must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
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 email shortly.
@@HildaBennet You need to just buy and hold an S&P 500 index fund like VOO or SPY. Nobody should be seeing their retirement portfolios decreasing now, the market has been booming
Its crazy to me we expect regular workers to not only be awesome at their job, but also be stock market experts to save for their retirement.
It’s not that hard, there is tons of personal finance information on UA-cam. And lots of book to learn, most of us spend more time planning our vacation than our finances, where is our priority as a society?
Well said
Look at the funds in your 401k plan, invest in blue chip stock or sp500 funds. Set it and forget it. Invest more during downturn (buy at half price).
Its sad when i dnt care their craziness
Dosa ke my sempre
Bodat gw mah
@@greauxpetemy daddy make sure i comenack to him full SMH 😂😂
Under rhe bridge 😂
Damn.... that's batard show herself how she can control shakala 😂😂😂😂😂
Mantap gebing
I’m 34 and Documentaries like this one opens my eyes to my own financial situation and fine print
Just work till you can't and when run out of savings I am going to take my own life. Is the only way. Or lucky enough i got my own place going to sell it when I can't work and move to the a cheap country and live off my savings.
@@michaelyun2407 If you have a US passport- look at other countries. There are places where you can retire and live like a king for 100K-150K.
You're at the perfect age where you should be doing some serious investing.
Perfect age to run away
I am currently in my 50s and This is no time to taper retirement savings. I want to max out my retirement contributions and I also have another $380k in a savings account that i want to invest in a non-retirement account. Where should I invest it now?
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Could you recommend your advisor? I'd appreciate some help.
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.
I just looked up Sophia online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals.
An increasing number of people are likely to face challenges in retirement. Low wages, rising inflation, and high rental costs make it difficult to save adequately. Now, even middle-class Americans are struggling to afford homeownership, putting their retirement plans at risk.
The surge in living costs has disrupted my plan to retire at 62, work part-time, and continue building my savings. I can't help but wonder if those who weathered the 2008 financial crisis had it easier than what I'm facing today. The volatility of the stock market, paired with a decrease in income, has raised concerns about whether I’ll have enough funds to secure a comfortable retirement.
This is exactly why I rely on a portfolio coach for my investment strategy. Their expertise-managing both long and short positions, capitalizing on asymmetric risk, and strategically hedging against market downturns-makes it incredibly difficult for them to underperform. Over the past two years, working with a portfolio coach has helped me generate over $800,000 in returns.
I wholeheartedly agree. As I approach my mid-40s and retirement looms closer, I have accumulated over $2 million in non-retirement assets. I am free of debt and have allocated a relatively small portion to my retirement accounts compared to my overall portfolio in the past three years. The importance of a seasoned financial advisor cannot be overstated-just remember to conduct thorough research to find a dependable fiduciary.
How can I find a trusted financial planner like yours?
Rebecca Lynne Buie has consistently been my top recommendation. She’s widely recognized for her expertise in financial markets and has a strong track record. I highly recommend her.
This is a really, really great documentary. It does a good job at cutting through the BS and explaining some pretty complex topics in an easy to digest manner. Honestly it should be required viewing for everyone.
It should be a required class that everyone has to graduate from to pass High School.
Really? Do you work in the financial industry?
I totally agree the United States is in trouble because partly we are financially illiterate
"Complex topics"? LOL. Wall Street manipulated legislation so it could steal from working Americans. As it always does.
Agree!
One of Frontline’s finest, and worthy of an Emmy. I’ll never forget watching this eight years ago. It literally changed my retirement strategy. Thank you, Martin!
So what‘s yr retirement strategy?
@@tcmelvinlee4804 Low-cost index funds. Specifically, Vanguard Admiral Shares, which has an expense ratio of .04.
@@opensourceguy730 Thank you I know nothing, I will start researching these . Any advice where to start investing first ?
@@opensourceguy730 thanks for sharing !
@@opensourceguy730 I opened a Vanguard acvt back in 2014 with $14k withdraw from a 401k. My last quarterly stmt has it approaching $100k. I also rolled over a subsequent 401k into it. This subsequent 401k was only a few thousand dollars. I am absolutely amazed.
This has been such an informative documentary even though it’s from 10 years ago. I’d love to see an updated version of the subjects discussed to see if any changes has happened in this industry.
X2
+1
There have been big changes to retirement plans. Mainly the amounts a person can contribute continues to go up.
Frontline will never do an update to see how unwise highlighted investors were in this "documentary"...everyone's account balances would have recovered nicely if they would have just stayed the course. Frontline will most likely do another hit-piece on capitalism when the next crisis arises.
The same principle still apply even thought it's from 2013. After watching this video, I went and checked my account and saw that I was being ripped off big time. Like the guy in this video, I kept wondering why I wasn't seeing an increase in my account, I know why now. THE FEES kept me from gaining.
The average person has never been so poor. Millions of families are struggling financially as living expenses hit the highest levels in more than four decades. Over 60% of our country lives paycheck to paycheck and about 40% earns poverty wages. Even after working all their lives, more than a quarter of older people have no savings and many believe they will never be able to retire in dignity, while around 55% of elderly people try to survive on an income of less than 25,000 a year.
Biden is worst thing that happened to us
TRUMP 2024
I've been able to scale from $350K to $650K this red season because my FA figured out Defensive strategies to protect my portfolio and profit from this roller coaster market.
Please. Especially in the western world we have never had it so easy. Cars, multiple cars, homes with central heat and air conditioning. Food everywhere so much we are either 400 pounds or struggling to keep the weight off. Life is choices and trade offs.
Nor has the average person ever been so fat. You haven't seen real poverty if you think the average US citizen is poor. Why do you think so many people are illegally pouring across our Southern Border? Because of the poverty here?
I just 30 this year and have just under $40k in my own 401k and another $10k between my other retirement accounts. My wife has about $41k in her retirement accounts (she is not currently working). I currently make close to $63k a year. I only do 5% though to my 401k for the company match and another 10% of my income is split between an HSA and a ROTH IRA
51 years old. I have $295,588.25 in my Fidelity retirement account. I cranked my contributions up to 35% and I do all the investing on my own. Fidelity just holds my ETFs/stocks. I made that change earlier this year. I'm hoping to end the rat race by 60 but it's looking more like 63-ish. I want to have $1.5M and bring in about $60k in dividends each year. Pedal to the floor! Thanks for the video. Great content
I completely agree; I am 60 years old, recently retired, and 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!
As a new investor it's always great to hear from a person who has gone through all the difficult times and come ahead of it. What are some strategies i can employ to be successful?
Natalie Marie Tuttle is my Advis0r. She has since provided entry and exit points on the securities I concentrate on. If you want to check her out, you may do so online. I usually trade in accordance with her strategy.
Look how things change in just 50 years throughout history. What makes you think everything will continue just the same from now on?
I retired five years ago and my worst fears regarding inflation have become a reality. I regret not seeing this documentary sooner but I can't beat myself up over it. I'll do the best I can moving forward.
Thank Joe Biden for inflation.
@@Whoiskevinjones Yessir I agree.
I know you can
@@Whoiskevinjones thank Trump’s republicans for not reacting to the pandemic sooner. You know “one day it will just disappear”.
Idiots.
Lockdowns caused the inflation
Excellent journalism. This was very very informative!
Two year ago, I resigned from my job for the very reasons laid out here! Selling junk to clients is difficult to reconcile with your integrity. All in the name for higher commissions and bonuses!
Your a man with a conscious.
I am glad there are people like you. I have a family member that does this job and making tons off of people with no actual service to them and its sickening.
CLAPPING! I left corporate America [banking industry] for the same reasons. I'd also learned in college [80's] that the government will have depleted social security by the time my generation [1964] reached 65! OUCH! I had no intention/plan to work until 65 and became an entrepreneur.
Man of principles. The world needs more of you.
Most importantly people's lives etc. I love my medical field
Most Americans find it hard to retire comfortably amid economy crisis. Some have close to nothing going into retirement, my question is, do I pull cash from my 401k and buy a house, or spread my money in stocks for cashflow? I'd love to afford my lifestyle after retirement?
Lately, I've been contemplating retirement, uncertain whether my 401(k) and IRA will ensure a secure future. I've also invested $200K in the stock market, experiencing fluctuations without substantial gains.
It is advisable to save at least 15% of your income in a 401(k). Online calculators can help you estimate the appropriate savings amount based on your age and income. By saving at least 15% of your income in a 401(k), you can work towards a comfortable retirement. This strategy allows you to benefit from compound interest, potentially growing your retirement savings significantly over time.
If you’re new to investing or have a more complex financial situation, It can be helpful to work with a financial advisor who can provide personalized guidance and help you make informed investment decisions.
On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal port-folio of approximately $750k 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 and profit from my port-folio this red season. I’ve made over $150k since then
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
I'm 72 and a retired nurse. I was a single parent. I've always lived below my means. Drove a used car. Lived in a small cabin that was paid off. Ate simple food. Wore inexpensive clothes. Paid for my college with cash, so no student loans. Saved money and invested wisely. I am able to pay my bills and live a decent life. I am grateful.
Nursing education 50 years ago: $150. Cabin 50 years ago: $1200. Nursing degree today: $40,000 +. That Cabin: $1 Million. I don't care what clothes a nurse wears today, they ain't paying for their education with cash, or living in anything besides a tent unless someone sets them up! Be grateful...that you weren't a student and a single parent trying to buy real estate and an education in 2022
You're right!! Everything now is too expensive!!! The times we live in are crazy!!!! I don't know how anyone can manage it!!!
The catch is that one cannot enjoy life the same way when you are in your 20s, 30s, 40s or even 50s. What is the point of barely enjoying life when you hit past 60s. It is cruel.
@@kylebishoph9860 You painted 🎨the FULL picture PERFECTLY. We DEFINITELY live in DIFFERENT times now.
But all of you on this thread dont understand that you guys earn more than she did back then...if you live frugally it is possible to do what she did ...if you have any debts first order of business should be to pay them as fast as possible otherwise they leak all the money you have
I just want to take a moment to thank Frontline. I watched the original broadcast in 2013. I was living in poverty at the time. Fast forward 7 years to 2020 and I finally had money, for the first time in my life. I opened an IRA and maxed it out for 2019, then a few months later for 2020. And again for 2021 and 2022. I haven't accrued much interest yet, but I know I'm in a better place financially than I would have been in had not seen this broadcast. Thank you.
What does it mean to max it out?
@@ez-g3090 You're only allowed to invest a certain amount each year so he's putting in the max amount each year. Now if you have a business, a solo 401K or a Sep IRA allows you to contribute alot more than individuals can contribute to an IRA. This country loves business owners but I would research that to figure out which works best for you.
I appreciate Martin Smith sharing his situation. You know hes reporting from the heart.
Martin Smith is the best.
However, he is also the owner of a small company and he appears to know shockingly little about the 401(k) plan he offers his employees. Who are his plan's trustees and are they bonded? They are required to be fiduciaries. Does Mr. Smith hire an advisor for his plan? Does the plan's advisor offer guidance to employees who need some help developing a retirement plan or choosing investments (two very different things)? Mr. Smith paints himself as a victim of the system but as a business owner, he is also partially responsible for the success of his employees' retirement.
And the wallet.
@@jamesdarnell8568 And he's not in the same income bracket as most of the people who are admiring him, or have watched this video for that matter
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.
Those sound like great picks! consider financial advisory so you don’t keep switching it up, top 3 payers for the month were $OHI, $KMI, and $EDP... not bad for 350k
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 14.3%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an advisor.
I'm intrigued by this. I've searched for financial advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
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.
Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info
This documentary is no doubt as relevant today in 2021 as it was when it aired in 2013. Thanks God for John Bogle, the patron saint of the index fund.
Imagine if we would have invested into something else 8 years ago. Imagine if we would have switched into apple shares or google or even the bloody crypto.
Where are we now? On the hand of the faulty and greedy financial system...
@@dorin.dumitru Something other than what? On average, you're not going to beat the market (and therefore, the market index fund). Looking at how some assets did better is pure hindsight and a path to ruin.
@@dorin.dumitru Crypto may still be the ticket for us financial losers.
Or is this controlled opposition? Kind of how the Left-wing-right-wing-same-bird party scheme works? Back up to the back up?
@@crand20033 - most crypto investments are a complete scam, and all are very volatile (risky). Bitcoin has matured as a way to pay for some things, but all the little new "currencies" cropping up would be a crazy place to put retirement funds. If you're into gambling, you'd probably have a lot more fun playing Blackjack and the craps tables in Las Vegas.
I watched this about 7 years ago when I was in my 30's and didn't have any retirement funds in my name. I started and now I've got over 100k. It was aggressive though and I changed careers. Became a nurse and worked lots of overtime etc.
Amazing!
Just wait till it goes to zero. POOF gone. If you cant hold it in your hand, YOU DON'T OWN IT
Just make sure you stay away from the leeches of financial industry. Do 80% s&p500, 20% bonds, and keep investing
@@LassieFarmlmao that’s such a poverty mindset
Jack Bogel is a legend. He has probably done more for savers than anyone else on the planet. RIP
*I'm 52 already and i already have a portfolio good enough to take of myself and my grandkids😂.Trading comes with alot of benefits and I just bought my first house this month through it, as a beginner i was scared at first, but I'm glad i took a bold step that is now favouring me*
Hey👋Sorry for late response I apparently used the FIRE movement to put my finances in shape you can research more about it and invested in Stocks and forex with the aid an investment enthusiasts Alvarez Harry Flectcher
Speaking of success, I think I am blessed, otherwise I would never have met someone as perfect as Alvarez Fletcher. He has saved me a lot and is a blessing to my family.
Alvarez's strategies work perfectly. I don't know him personally, but his strategies are currently good. I earned my first €105,000 trading with him.
He approached trading in a completely unique way and I am so amazed by his method. He just seems to have an innate understanding of this trading world. Without a doubt, I started with £3,000 and the rest is history
I am 33years old living in England , I earned my first £50,000 trading with Alvarez . He is really good with and on his job
I always knew index funds were the way to go but for some stupid reason I look at past performance and completely ignore admin/exp fees. The example of how much 2% eats away is eye-opening. Thank you for this very informative and important segment.
Yes - even the popular funds are gouging your retirement at a shocking amount - don’t be fooled.
index funds should only charge about 0.01% in fees.
Jack Bogle was a good man and an American hero.
I'm really fond of Warren Buffett too! He hired me, paid annual profit sharing, provided a pension, and his HR department was attached to Vanguard too. Saved my life actually.
I would say that the O'Shaughnessy's are unsung heroes as well. In What Works on Wall Street and Millennial Money there's a great argument made that both debunks the random walk theory and shows how reliance on the conventional measures of risk predicated on it hamstrings institutions ability to invest rationally.
Yes he was. Underappreciated by most
Yes, may he forever R.I.P.
The only honest man on Wallstreet!
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 determines a lot of things, my parents both spent same number of years in the medical profession, my mom was investing through a financial advisor while my dad through the 401k. On retirement, my mom retired with about $5million, while my dad retired with roughly $3.8million.
You are right. I’m in my mid 50’s now, my wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with profits over the years, but at least I’m earning more. I’m making money even before retiring and my retirement funds has grown way more than it would have been with the 401k.
It’s unfortunate most people don’t have such information, I don’t really blame people who panic cos lack of information can be a big hurdle. I’ve been making more than $25k passively by just investing through an advisor, and I don’t have to do much work. It doesn’t matter if the economy is crashing, great CFA will always make good returns.
Do you mind sharing info on the adviser who assisted you? I'm 40 now and would love to grow my stocks investment portfolio and plan my retirement..
Her name is Annette Christine Conte can't divulge much. Most likely, the internet should have her basic info, you can research if you like
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 problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
Money invested is far better than money saved , when you invest it gives you the opportunity to increase your financial worth.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
I also keep seeing lot's of people testifying about how they make money investing in Stock, Forex and Crypto Trade(Bitcoin) and I wonder why I keep loosing. Can anyone help me out or at least advice me on what to do.
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
Trading under the guidance of an expert is the best strategy for beginners.
Thank you Martin Smith, Robert Hiltonsmith and Frontline for this documentary, excellent journalism and very informative. Thank you.
Thank you for finally making these available on UA-cam. I hope you rake in the dough from all the views. This episode is still relevant today. I'd really love to see an update, though.
I just turned 48 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 55. How best do I maximize my savings of over $110k
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
Many people often underestimate the effectiveness of a financial adviser in planning for retirement. Over the past 5 years, my FA has consistently restructured and diversified my portfolio and expenses, resulting in over $1 million in gains. While it might not seem like a huge amount, retirement now feels within reach.
Thanks for sharing your experience! I’ve been managing my portfolio myself, but it’s not working out. Do you have any recommendations for a good investment advisor? I could really use some help.
My CFA, Judith Lynn Staufer, is a renowned figure in her field. I recommend researching her name online; you’ll find all her credentials and everything you need to work with a reliable professional. With many years of experience, she is a valuable resource for anyone looking to navigate the financial market.
I just looked up her website on google and I would say she really has an impressive background in investing. I have sent her an email hope she gets back to me soon. Thanks
We should also do our best to educate people on the importance of taking their health seriously to reduce the financial burden of failing/ill health. Besides conventional methods, active retirement planning should also be encouraged. We all know how slowly and nonchalantly governments react to things like this and as such we should do the best we can from our end.
That's very true. Besides IRA and 401k, are there other ways we can prepare ahead of time for our retirement? Mine draws nearer by the day and I'm gradually going into panic mode
There's no need to panic. The simplest way is to save more and invest those savings in profitable ventures (you must either be very informed or get the services of a professional so you don't end up losing your savings). I made my first million last year only through something as casual as Stocks and with less than 5 years left to retire, I don't have much to fear. Goodluck!
...Very sound and realistic... You mentioned investing and using
pros, if its not a problem. do you mind telling if you used one or recommending a good one? I could definitely use external help right now... I look forward to you
replying..
Funny enough, I can honestly relate. Yes, I used one as I literally know next to nothing on the subject. For the professional, I don't know if I am permitted to go into details here, but you should start by looking out for those from reputable brokerages and good track records. Mine is Burroughs Walter Anderson though
@mrmoore, I know this dude. Shared a block at my former workplace. a friend who he worked with always spoke highly of him. i actually didn't understand how because he seemed so easy going
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.
This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's 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 $30k 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 think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.
My financial advisor is Lisa Angelique Abel . I found her on a CNBC interview where she was featured and I reached out to her afterwards. She has long helped me with my portfolio
I Found her online page by searching her full name, I wrote her an email and scheduled a call, hopefully she responds
We need an updated version for 2021 to see how people are doing today
Guranteed, far worse. Especially after the pandemic has wiped out so many businesses and life savings
Rip Dan Roberson at 15:27
I bet the chick with 115k has a half million now. And she was worried.
The update is simple. Young people do not want to invest for 40 years and retire. They want to get rich today. So they take on more risk with unproven ventures like Bitcoin.
Much worse I assume. How could they not be?
Love the interviewers transparency into your own struggle. Thank you for being human.
Rip John Bogle. One of the greatest.
Frontline is tbe best journalism on 📺
Amen brother 🙏
This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube 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 really worried.
Not a lot of people are able to save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
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 $800k
Mind if I ask you to recommend this particular coach you using their service?
My CFA ’Amy Desiree Irish’ , 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.
Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
When this was first aired, millions watched and ended up saving tens or hundreds of thousands of dollars by switching to index funds. Now, right before he died, John Bogle was saying they've got too big. It was a site to watch this, and many can thank Frontline and John for steering people in the right direction. Today, it's not so easy. The future is murky
Index funds are still there. Low cost expenses are still there. "No commission" investing is still there. Dividends are still there. No problem.
I’ve owned an index fund for almost 20 years. Going very well with good dividends.
Bleeding Edge, what's the critique you have of Vanguard ? I'd like to know because I'm still gung ho about it. Thanks.
@@intramotus no criticism. Vanguard is one of the best investment firm.
@Veggie Madness I calculate what I need to survive 20 years of retirement. If I live longer, I won’t need much cash anyway as I’ll be too damn old to move around as freely. True, many people die early into their retirements. It’s just luck so accumulating obscene amounts is futile. Enjoy your current lives too. Balance it. 😉
I wasn't finanncial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investng in the fiinancial market is a grand choice I made. Great video! Thanks for sharing!
I understand that tomorrow isn't promised to anyone, but investng today is hard for me now because I have no idea of how and where to iinvest in. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path?
@David cho The advisr I use is Dawn Marie Gatti, she's actually quite known, so you could just search her.
@@drrami757 your handler must be really good, I have seen testimonies of people using the help of inve stment advis0rs in making them more flnancially stable. Is it okay to ask how to get in touch with this Dawn Marie Gatti?
@@laurenlondon848 look her up on the internet with her name. she's quite popular for her services as she was recently featured on bloomberg. She can actually work with anyone irrespective of where you're located.
I just looked up this person out of curiosity, and surprisingly she seems proficient. I thought this was just some overrated BS, I appreciate this.
Wish this was part of our public school curriculum, learning how to invest and retirement goals
Investing is nice. But the real money is not in the investing. It is in the services and fees on other peoples investments. They only teach that in the Ivy schools.
Also: credit, taxes, personal finance & more...
@@johngee9018 making money risk free with other people's money.
It needs to be.
They make sure to keep people in the dark. I have 2 millenials and I educated them: we learned the hard way; we should educated our children to stop the bleeding.
*I'm 50 years old and living in Canada Alberta I'm willing to retire at 55 if things keep going the way I planned bought my first house last week I'm glad I made a productive decision that has changed my financial status forever and can't be more proud that I'm right now*
Hey sorry for late response I apparently used the FIRE movement to put my finances in shape you can research more about it and invested in Stocks and forex with the aid an investment enthusiasts (Alvarez. H. Flectcher) therefore making my dream a reliaty
Waking up every 27th in 2months time to receive $150k is amazing he is very professional broker trade with him and remember to share testimony with others
He approached trading in a completely unique way, and I'm so puzzled by his method. He just seem to have an innante understanding of this trading world. Without a doubt, I began with $10k and the rest is history
Alvarez Flectcher strategies works perfectly, I don't actually know him in person but his strategies is good up to date
Made my first $200k trading with him
Who is this professional broker everyone is talking about I always see his post on top comments on every UA-cam video and Twitter page I watched please is there any media handle I can contact him?
My Econ professor in college, would say " A broker only makes you broker" He handles his own stock, he was a multimillionaire teaching college just to keep busy. It took him 33 year in the stock market to get financial security.
we don't have that long mate... this shi is crashing so hard.
@@magnanomac456 This is the type of thinking that will keep you from reaching financial security. If things really go sideways then money won't matter so why not invest for your future assuming things will get better? If it gets so bad that money doesn't matter then no harm done. If things start getting better and you haven't saved and invested for your future than you will be working for the rest of your life.
Dr. wish?
@@magnanomac456 perfect opportunity for young people.
The smartest thing I did for my retirement was move it from actively managed accounts to a self-managed account. Index funds for the win!
What index fund do you invest in
@@MsDragonbal776 Vanguard VOO or VTI are perfect, read John Bogle
@@thedoor5442 John bogle? Is that a book?
I invested in Vanguard and my company's 401k.
It is difficult to get a man to understand something, when his salary depends on his not understanding it. - Upton Sinclair
🌹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
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
You don't have to be surprised, That's exactly his name( Alvarez Harry) so many people have recommended highly about him I'm huge beneficiary of his platform from Brisbane Australia 🇦🇺
I'm a bit perplexed seeing him been mentioned here also Didn't know he has been good to so many people too this wonderful, I'm in my fifth trade with him and it has been super
What' supprises me about him mostly is he gives his clients access to his trading site whereby they can monitor their on
Please how do i get connected here in Norway 🇳🇴 I want to invest, is there any where I can contact him?
This video must be watched by all employees in all companies whether they have 401k or not. This should also be shared in colleges so before millions of people get into the workforce, they learn what it takes to save, investing right products and understanding the fee structure so that they know what they will get when they retire.
Excellent program.
madras61 Back in the 1980's, there were courses like Home Economics and Personal Finance that taught these topics, plus budgeting, credit in high school, at my high school in Greenwich, CT.
This is one of the most important financial shows ever made. It changed my life and it should be watched by every American. Although I do not agree with all of Frontlines' views, I am forever grateful for this episode. Cheers!
Read everything written by John Bogle He was the only honest man on Wallstreet.
Index funds !
it is indeed a very sobering wake up call.
i'm 57years old and already have $670,000 saved and I'm about to retire in two years but I'm worried about rising inflation. Is this enough for a very good comfortable retirement,I’m looking at investing in estates and stocks maybe
Let's face it... buying more stocks & index funds during stock market corrections and bear markets is scary. Which makes it really hard to do for most people like me. I have 260k i want to transfer into an S&P isa but its hard to bite the bullet and do it.
You need a Financial Advisor my friend so you don't get ripped off in the market. They provide personalized advice to individuals based on their risk appetite, placing them among the best of the best. There are bad ones, but some with good track records can be very good.
Got laid-off at 52 just after covid-outbreak, and at once hired an advisor with grit to help stay afloat. I've been fortunate enough to achieve a 10x return compared to my previous efforts as a DIY investor, summing up nearly 85% ROI as of today.. My best so far!!
Pls how can I reach one of those experts, I need someone to help me manage my portfolio?
I've stuck with Melissa Terri Swayne for some years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
115k at 32! I’d say she’s killing it.
If the $115K is in an S&P 500 fund, it will be $1.84 million when she’s 61.
Yeah if she gets married, gets kids, probably going to need a bigger place which equals more bills, more mouths to feed etc
@@femiairboy94 what does that have to do with her portfolio then? As long as as she never touched it and contributed the minimum she doing better than 90 some percent of the US population. People adapt to those sort of things and even get tax incentives. Good try though.
As soon as interest rates rise she is done for
When I turned 50 years old I graduated from Nursing school.
I Never saved a dime until then.
I Started planning my retirement in the Philippines 🇵🇭.
With my girlfriend who is a filipina we bought land and built 2 different houses in different locations in the Philippines.
When covid hit the Philippines and they locked down I had started my paperwork to receive my social security checks.
On April 1st 2021 I was 62 years old.
I stopped everything and continued to work until the Philippines opened up from lock down on February 10th of 2022.
I started back up my Social security checks in March of 2022.
Getting my first check in April of 2022.
I now live in the Philippines 🇵🇭 full time and plan to visit family and friends once a year traveling in the U.S.A. 2 months out of the year.
Not having to pay rent but owning my own homes in the Philippines makes a huge difference.
I live a comfortable middle class life now.
Living expenses even with inflation of 5% here in the Philippines is about $1,200.00 dollars a month I can still put money away to save for the things I want to do and have.
I started planning at 50 and now at 63 I no longer work and live a stress free happy life.
I and my girlfriend are planning our wedding in October on my birthday.
Life is wonderful, I'm living my dream.
Good luck to those folks who started planning late in life to retire as I did.
200 different country's in the world 56 that speak English as a second language, several where the cost of living is far less to live in then in American.
I made my choice I could live a poor life in America on $2,200.00 dollars a month or live a good middle class life owning my own 2 homes in the Philippines .
I choose the Philippines 🇵🇭. Life is wonderful.
My wife and i live and work here in Canada, we were both born and grew up in Philippines, and we are planning to do the same like what you did, that when we retire, we will go back and forth between these two countries. We didn't have enough retirement money. In fact, i put my monthly RRSP contribution in high risk and it slowly growing. Sometimes i gained but most of the time i lost. I can't withdraw money early because i will be charged with surrender fee. I am planning to make a business in Philippines but i have to go back there first and study the matket. My wife's and my pension would be, well, hopefully will be enough for us to retire in Philippines.
Congratulations. You made the right choice. Enjoy.
Great, great story. You made a success if your situation. Congratulations!!! Wonderful.
A personal question - How is the sex with your Filipina girlfriend?
@@TheChromelover I'm 64 she's 41 she's committed to me and content, we know at some point my sex drive will slow down as I get older.
When and if that happens I will use the little blue pill We've tried that a few times already just to enhance our love making and it works great, I've talk to a few expats and watch a volgger say they are taking TRT shots once a week.
If it comes to it I will try that as well.
For now she's happy 😊
I remember meeting with an investment advisor in my workplace cafeteria circa 2010 and me insisting to him that my 401k be invested entirely in an Index Fund. He moaned, tried to talk me out of it and then essentially told me to get lost. Why? Because he couldn't make money off my hard labor.
Exactly. Index funds are the best.
Did you do well? I’ve been thinking of the Dreyfus Index Fund or another fund but I’m 60 years old so I am not sure.
@@jessicalt4121 Yes I did. Results were slow, measured and continuous and I was able to retire at 63.
@@jessicalt4121 The market is likely to crash in the near future after a long run-up. At 60, you don't have much time to recover from a 20-50% loss.
I retired at 53 now, 55. I have close to a six-figure portfolio, 70% income uk 🇬🇧 stocks, blue-chip companies, the rest in growth etfs sp500 nasdaq global technology, etc. I still like the growth aspect of investing but as my grandkids would inherit all this how best does all this get best managed for better returns?
My 401k went 100% in the S&P 500 when I started working in 1989. Left 100% alone till 2007 before it went to 666. Because of my 17 years in the 500, I was able to retire this year with $683k in the 401k (and a pension and rental income). There is no other way to retire before you are 70.
Absolutely! Wealth is made in growth investing . We aren’t in a bear market, but nibbling heavy red days has proven to be fruitful for me over 9 years of investing. I am at 2.25 mil. Biggest positions PLTR, TSLA, SCHD, NVDA, and now looking to build up DRGO alongside finding quality value/growth stocks to buy. I got $48k divs last year in taxable divs. Q3 taxable divs this year was $18,388 this year. Don't sell when the market is down. Having a skilled CFA that puts the time in to do in-depth research can be invaluable in strategizing your portfolio.
Well it seems like a lot of your interest is riding on your source, I could really get well accustomed to your viewpoint, get me involved.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Amy Desiree Irish ” 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 the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
RIP Jack Bogel. Mr. Bogel's brilliant insights hugely contributed to this broadcast's creditability. Excellent presentation, Frontline. Your layout of the retirement crisis, which still exists today, was exemplary!
We need more quality documentary subjects like this one. Please do more on how to survive in and plan for retirement. Thank you
its Frontline they have only been making and showing docs like this for 30-40years on TV..
We need to value media like this. ie paying for it.
@@FighterFlash motley fool is good for noobs investors
@@Stoneface_ So? Not everyone wants to be an active investor... that's the point here, we have jobs - are busy enough with hat and our families -and would rather have someone else do it for us, "noobs"...grow up.
@@susank.4945 cool👊🏿
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
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.
*I also just got my retirement funds and I have these guys to thank because I didn’t have to pay any tax that was included in getting it all out , it’s time to start an invstment*
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------IF YOU WANT TO GET YOUR FULL 401K RETIREMENT FUNDS WITHOUT HAVING TO PAY THE TAX INVOLVED YOU SHOULD LOOK AT VCORPINVEST▫COM ON GOOGLE , THAT COMPANY DOESNT FOLLOW THE USUAL RULE AND ARE ABLE TO GET YOU YOUR FUNDS WITHOUT PAYING TAX
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------IF YOU WANT TO GET YOUR FULL 401K RETIREMENT FUNDS WITHOUT HAVING TO PAY THE TAX INVOLVED YOU SHOULD LOOK AT VCORPINVEST▫COM ON GOOGLE , THAT COMPANY DOESNT FOLLOW THE USUAL RULE AND ARE ABLE TO GET YOU YOUR FUNDS WITHOUT PAYING TAX
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------i HAVE PERSONALLY USED A COMPANY CALLED VCORPINVEST▫COM TO WITHDRAW MY 401K RETIREMENT PLAN WITHOUT HAVING TO PAY TAX AND THEN I PULLED IT ALL INTO INVESTING IN THE STOCKS MARKET , ITS BEEN 4 MONTHS AND I ALREADY MADE 235K USD
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------i HAVE PERSONALLY USED A COMPANY CALLED VCORPINVEST▫COM TO WITHDRAW MY 401K RETIREMENT PLAN WITHOUT HAVING TO PAY TAX AND THEN I PULLED IT ALL INTO INVESTING IN THE STOCKS MARKET , ITS BEEN 4 MONTHS AND I ALREADY MADE 235K USD
@@coleman5834 THIS IS A SCAM ^^^
One of the best documentaries Ive seen. Frontline is the best investigative journalism today.
Wow....what a great episode of Frontline.
I learned from my dad at a very very young age that you have to take care of yourself and that no one is coming to save you.
Self made business owner and dividend growth investor here. Already financially retired because I understood this from a kid.
CLAPPING! Ditto!
Well said!
💯💯💯
What kind of business, if you don't mind me asking.
@@MV-kr2se His YT Channel says...
Owner of a company that manufactures aluminum ADA compliant handicap ramp systems.
We do not sell our products but lease them to businesses, institutions and government facilities across the state of Florida.
I have forgotten who it was, 30 years ago, that steered me to invest regularly into Vanguard index funds. I was lucky, but I was also persistent in my
contributions. My retirement is financially extremely secure, and I will have plenty left over when I pass away, for my children.
What did you invest in? I regularly contribute to Vanguard as well
Nice work same here too. I was told by my father , it’s easier to be poor when your young. Time and compounding interest is the key. Also , “never get out of the market”. Jack Bogle
It really isn't that hard to live below your means for your working life, save the excess and invest it in a low cost indexed fund. You then retire with plenty of money to live comfortably. Problem is, the average person is completely financially undisciplined.
@@christopherhaak9824 agree 100%. Too much keeping up with your neighbors and all the next best things.
This should be mandatory education in schools and universities.
NO MY COMMENT SHOULD BE MANDATORY IN SCHOOLS
Firstly most of the 'victims' here were greedy-they were trying to obtain ridiculously high returns that could only be offered by cowboys.
Next, the real reasons companies stopped paying final salary pensions is because they became fantastically expensive to pay for. That's why so many American companies outsource their jobs-it became far too expensive to pay American workers(and Europeans too) as we insist on retiring from 60 onwards when most people will love till their 80's and 1 in 2 people born today will live to 100. The maths just does not add up. You cannot work for 40 years then expect a pension for 40 years that is inflation linked and tied to your final salary. The public refuse to pay more or retire later-well guess what-the promises that have been paid CANNOT be honoured-there is just not enough money to do that.
The BIGGEST reason is that 'public sector' workers are just damn greedy. They expect everyone to pay into a pension plan for them that most people can NEVER hope to get-good luck with that-the public will rise up against it. The public sector is far too big and the salaries are off the scale. Police officers earning over $150k in California, Principles $500k-it's crazy and CANNOT be paid for-we have the same nuttiness here in Blighty too. This documentary wants to push the narrative that the Government is the solution to the Pensions crisis-the Government CAUSED it!!
The only way for people to retire comfortably is to keep your savings outside of the banking system-they will confiscate it when the next crisis comes and believe me it's coming. And guess what folks-NO ONE WILL EVER LOOK AFTER YOUR MONEY THEY WAY YOU WILL SO DO IT YOURSELF-TAKE RESPONSIBILITY, SWITCH THE TV OFF, STOP FIXATING ON BS AND START FOCUSSING ON YOUR LIFE!!
And Finally-Never trust anyone with your money-WATCH THEM LIKE A HAWK AND THAT INCLUDES FAMILY-EVERYONE LOVES SPENDING OTHER PEOPLES MONEY!!!
BUY GOLD AND SILVER-IT'S THE ONLY REAL MONEY!!!!!
It's why our schooling system is a joke. Notice how they do t teach anything that applys to being successful or how to spend and use money. The most important things in life it doesn't teach at all. Instead they give you art class and useless algebra, something you will never use in your life. They system is deliberately designed to keep the poor poor. And special schools for the rich to give a real education. We live in a plutrocracy not a democracy. 2008 80% 9f America was against the bailouts and it was voted no by the house, despite all that it was passed anyway which was illegal becaise the house voted no
So should guidance on buying a home and refinancing.
Will never happen: we all should educate our children: homeschooling financial education
It is up to the parents to educate themselves, and pass that info along to their children. We should never depend on schools to do all of the necessary education in life.
I’ve been retired 2 years and my entire 401k is/was in 3 different Vanguard low fee index funds. They are totally the right way to go. I looked at active management funds but the fees were ridiculous. I’ll lose my own money and NOT pay someone else to do it!
The key is not having a mortgage when you retire that can kill any retirement if you have to be paying that.
Bingo. You hit the nail in the head.
Of course, the less monthly expenditure, the better. But if you own a house, you still have to pay property taxes and insurance, which can be significant. So, best to downsize, to keep those costs down. And, in reality, if your mortgage rate is lower than the rate you are getting from your investments, you’re better off keeping the money invested, rather than using it to pay off your mortgage. Then you pocket the difference.
@@gj6792 If you own your house there is a lot of risk you mitigate by not having that cash in investments. If you are smart enough also to own after downsizing and even moving to a non tax State you SS should be ample to pay for any house maintenance and property taxes. Again you need to have a baseline in retirement and owning your place of residence is a great baseline.
100%
My mortgage was paid off before I retired only bills I have are my utilities house and car insurance real estate taxes since I have the senior freeze my taxes are very affordable I made sure I had a new roof on my house central air and furnace all paid for with cash. I am able to live on just my social security without having to take any money out of my 401k or Roth IRA
I retired from a Government job a decade ago. I live very frugally. I just did the math and see that I have received so far roughly $344K with my pension and SS (which is lessened due to the WEP), including my medical benefits.
I've completed a Chapter 13 Bankruptcy, and dare not move from my home of 35 years due to my low fixed-rate mortgage payment. The average rents in my area are about 75-80% of my monthly pension.
I knew I would never be able to save what I would need for retirement, which is why I went with the path I did.
But I had no idea that retirement would be this financially challenging, or that I would ever need anywhere near this much just to exist at a base level.
I add my warning to the message presented in this program. Please, plan ahead for this time in your life.
Planning is no guarantee for success in the retirement arena.
You Govt Hacks retire too young. That's the real issue.
What’s a WEP?
I love how these "investment professionals" start to stutter when they try to defend their mutual fund strategy vs simply buying $VOO or $SPY.
They’d lose their job if they agreed. They know the facts, they just won’t say it.
-
The fact that that one retirement planner lady, said “I didn’t know the S&P500 beat actively managed funds” was a complete lie.
-
I’m 20 years old, a kid, and even I know, that actively managed funds underperform the market. It’s common knowledge, well, should be.
So true, I think Warren Buffet made a bet with some hand picked hedge funds that they wouldn't beat the index. Of course, he won.
@@nathanamos9945 the $1 million he won and the $1 million he used for the bet - $2 million - and donated to a charity
If they can't beat the S&P 500 index move on to the next one, only 20% can.
GREED galore
As an investing enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.
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.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
I'm scared about retirement as I turn 60 on my next birthday. I need to ensure I have enough money to survive on. How can I consult your advisor? My retirement account isn't performing well.
NYCOLE CHRISTINA VANNATA 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.
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.
Company pensions have evaporated While company profits keep going higher. The fees are a leaky faucet
It would be great to see a similar documentary on the inner workings of the social security administration. As US citizens we pay 6.2% to 12.4%(self employed ) yet we do not receive the compounding benefit in our return! Run the math on your “investment” in SS over the life of your work history verses what you will receive in benefits.
....not only that, but if you're a Gen Xer or later, it's *quite* likely you won't even get the benefits you *in theory* were entitled to by law (they won't be taking in enough money to cover outlays under the current way it's funded)... SSI was a ponzi scheme the day it rolled out, and it required an ever growing population of workers to remain viable.
It’s invested in short term treasuries only
A big problem is that the contributions are capped, so the rich are paying far less than 6.4%/12.8%. And as the income disparity grows, the percentage of US income going to social security falls.
That's what happens when the kids of rich people can spend 14 000 pounds on small hand bag as a whim. It is a greed game. People in each corner of the planet are constantly bombarded by media with LGBT, religions, political parties so we are divided by as many factors as possible so the rich get richer and richer while the poorer and poorer keep chasing disappearing jobs.
SOUNDS LIKE FAIR DEAL TO ME.
SS is a scam. I WISH I could take that 12.4% and put it in an index fund. I'd have 10X the return on investment that Social Security gives...
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $560K for sometime now, my major challenge is not knowing the best entry and exit strategie;s ... I would greatly appreciate any suggestions.
For the average person, the strategies are fairly demanding. In actuality, most professionals who have the necessary expertise to pull off such trades effectively carry them out.
I agree , I assumed I had a hang of the market at first, I gained $50k one year and I was super elated, not until I stumbled upon a portfolio-advisr whose been guiding me since the market's been sham after the pandemic, to my utmost surprise I netted a whooping $280K during this dip, that made it clear there's more to the market that we average joes don't know
I agree , I assumed I had a hang of the market at first, I gained $50k one year and I was super elated, not until I stumbled upon a portfolio-advisr whose been guiding me since the market's been sham after the pandemic, to my utmost surprise I netted a whooping $280K during this dip, that made it clear there's more to the market that we average joes don't know
Had a good run during my first year in the fin-market, I assumed I had a hang on it. However, things changed during the pandemic, and I needed to diversify into safe assets, so I approached a coach who devised a structure that matched my annual goal of 200k
Although my knowledge of the business is limited, it seems that this is the ideal time to enter the market based on my understanding of supply and demand in the economy. The consistent price variations, which shouldn't be an issue, are the only thing stopping me. But I really need a counselor; could you please assist me?
*I finally got to receive all my retirement funds amounting up to 200k all at once without having to pay tax , im done working and its time i invest all of this*
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------IF YOU WANT TO GET YOUR FULL 401K RETIREMENT FUNDS WITHOUT HAVING TO PAY THE TAX INVOLVED YOU SHOULD LOOK AT VCORPINVEST▫COM ON GOOGLE , THAT COMPANY DOESNT FOLLOW THE USUAL RULE AND ARE ABLE TO GET YOU YOUR FUNDS WITHOUT PAYING TAX
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------IF YOU WANT TO GET YOUR FULL 401K RETIREMENT FUNDS WITHOUT HAVING TO PAY THE TAX INVOLVED YOU SHOULD LOOK AT VCORPINVEST▫COM ON GOOGLE , THAT COMPANY DOESNT FOLLOW THE USUAL RULE AND ARE ABLE TO GET YOU YOUR FUNDS WITHOUT PAYING TAX
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------i HAVE PERSONALLY USED A COMPANY CALLED VCORPINVEST▫COM TO WITHDRAW MY 401K RETIREMENT PLAN WITHOUT HAVING TO PAY TAX AND THEN I PULLED IT ALL INTO INVESTING IN THE STOCKS MARKET , ITS BEEN 4 MONTHS AND I ALREADY MADE 235K USD
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------i HAVE PERSONALLY USED A COMPANY CALLED VCORPINVEST▫COM TO WITHDRAW MY 401K RETIREMENT PLAN WITHOUT HAVING TO PAY TAX AND THEN I PULLED IT ALL INTO INVESTING IN THE STOCKS MARKET , ITS BEEN 4 MONTHS AND I ALREADY MADE 235K USD
Yes give me 10k im your cousin btw 😁
My wife and I did very well in the amount of money that we amassed for retirement. Well over 80% of that money was made because of taking advantage of buying high-end stocks at a deep discount during the Great Recession. 2009 I fired the stockbroker got rid of all mutual funds and bought individual dividend stocks. Be patient don't get scared and do your homework and you can make a killing.
I am 54 years old and my wife and I are very worried about our future, with gas and food prices rising every day. We have seen our savings dwindle with the cost of living in the stratosphere, it is impossible for us to replace them. We can manage, but we can't move forward. My condolences to everyone retiring in this crisis, all those years of working just to lose it all in a crisis you didn't cause.
@@alexyoung3126 I feel your pain mate, as a fellow retiree I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an investment advisor "Eileen Ruth Sparks" this year for assistance, and following her advice, I poured $150k in passive diversified safe-haven assets and its yielded $325k so far. Nothing special, just proper diversification and a cut loss and take profit strategy.
I think it's especially difficult for retirees and near-retirees, I know to focus on the long term but the anxiety when you're supposed to retire in 3-5 years is exhausting. it is difficult for me to participate in the market right now due to the full-time nature of my job. it will be too stressful to combine so I don't even think about it
I start my first job in 2000. I had $75,000 in my 401k in 2004 and I felt proud. 2009 my 401k went all the way back down to $75,000. Four years wasted. I continued to max my 401k contributions. My 401k took off like a rocket between 2013-2021. Even with the 2022 being down, I have only "lost" half of my 2021 gains. I want to also let the young folks know to keep investing.... don't listen to the media...they are playing with your emotions for attention.
I’d use Jack Bogle’s suggestion(s) if I were new to this.
My organization used to offer a really generous pension, but it required 6% contribution by the employee. For an example, if you retired at 60 after 20 years of service, you were guaranteed 50% of your highest salary for life (and more with more years of service). Over the years, we started losing out on more and more workers because they "didn't want to contribute to the pension". This got so bad, that my company eventually did away with it in favor of a 401-K program. I really feel like the workers screwed themselves in this case. I will retire in two years with my pension and knowing I will have this income has given me so much peace of mind.
A black hole is still a black hole. No guarantee that employer can pay that pension. When the math goes sideways and the rules of the game are fudged with, the output is fubar. I'm sure your pension is fine though.
Many employers demand employee loyalty, but give none in return. After decades of corporate bean counters inventing new ways to screw over employees to wring more profit out of them, fewer employees these days have confidence that they will be with the same firm or union for 20+ years to even collect on that pension.
@@manmeetworld Well, all pensions are guaranteed by the federal government, so even if something went wrong I would get something. That's not true of stock market investments.
@@rpgspree So true-- it still has to be a good place to work and a lot of things have to happen (or not happen) to allow you to have a 20 or 30 year career somewhere and sadly that just doesn't exist in most situations. Our pension vests in 5 years so that would have been the minimum someone who need to spend at my org to get a paycheck in retireement (albeit a small one).
That's too bad. I would have applied to work there. Goodbye pensions. The biggest benefit corporations used to have. Now no one stays at companies very long anymore due to lousy benefits or no benefits at all! I tried to stay at a big corporation. After 10 years they took away all the great benefits! I left like so any others did. Now I have worked at over 10 different companies over the past 16 years. Why? It's the only way to keep my salary increasing faster than inflation. I'm sure I'm not done changing employers.
I plan to retire or reduce my work hours in five years, and I'm interested in how others allocate their income between savings, spending, and investments. I currently earn about $175K annually but haven't built up much in savings so far.
There are numerous strategies to achieve high yields during a financial crisis, but it is crucial to undertake such trades with the guidance and supervision of a professional financial advisor to ensure informed decision-making and risk management.
That's true. I've been assisted by a financial advisor for almost a year now. I started with less than $200K, and I'm just $19,000 short of half a million in profit.
Nicole Anastasia Plumlee is the coach that guides, you probably might've come across her before I found her through a Newsweek report, she's quite known in her field, look-her up.
175k a year and no savings... But poor people with no money to manage are bad at money.
You need to downsize your life if you’re earning 175k a year and don’t have much savings. You’re falling prey to lifestyle inflation.
"The Income Factory" by Steven Bavaria should be required reading in our schools. This book made my retirement possible and a lot less stressful.
I have not heard about this one, thank you for sharing.
Jack Bogle is a Saint. I’ve had Vanguard funds and they are amazing. And he is utterly truthful.about his charges
I have had Vanguard for 14 years and am admittedly late to the retirement party, but when I did research on mf vs Index funds 5 years ago and then sold & switched most of my portfolio tp IF, i am now doing much, much better and catching up.
I only wish I had found Bogle sooner. Ever since I ‘discovered’ fees & indexing my retirement savings began to really grow. I feel the people in this show and others.
Jack Bogle The only honest man on Wallstreet!
YES !!!!!!!!! 🙏🙏🙏
@Repent! Repent for what? Millions have been killed in god’s name. If anyone needs to repent, God should repent for murders.
Another excellent documentary from FRONTLINE. It should be must viewing by everyone working. Unfortunately, the fallback position from nearly everyone interviewed about their own retirement is, "I'll just have to keep working until I'm in my seventies." But, the likelihood of that is slim to none. During the 80's, companies dumped defined benefit pension plans and replaced them with the 401K. Around the same time, business schools and management were embracing short-term financial metrics as the performance standard. Of the traditional stakeholders (Owners, Customers, and Employees) Owners became king. Today, while companies mouth the line, "Employees are our most important asset", they routinely turnover personnel in 3 to 5 years and anyone between the ages of 50 and 55 are "encouraged" to become successful elsewhere. Working into your seventies at comparable a position is about as rare as a pension.
You are right. And 401k plans gamble in the stock market.
Working into our seventies will become increasingly unlikely for most Americans as we are moving into an AI automated future. One possible solution is to shorten our life expectancy ;-).
Just look at the present role model for business. Amazon believes in their actual company documents that a warehouse worker has a 3-year working lifespan. In other words we plan on working you so hard that you have a health crisis or simply cannot keep up within 3 years. No there is no working until 75 in that market. You'll be lucky to work till 40 in that market. Walmart and other convenience stores aim for 5 years. And then where do you go... Not their problem. Right now they are protesting because workers are not going back to minimum wage jobs and they're talking like we just need to do away with unemployment insurance entirely and see if people starving give in. Literally I was watching the hill this morning and they were talking about how workers only have a limited window of opportunity to get better jobs or better wages for their jobs because desperate people will do anything including taking bad jobs. And I'm left wondering do they not think of the other thing desperate people do?
Our tv executives and stock markets CEO’s are in bed with the establishment their jobs are brainstorming and convincing their audiences while they are yachting in Cayman Islands.
ageisum!
People who are able to retire early are lucky . I have 15 months till 65 and need to look at calling it quits, my only fear is running out of funds much later, thus keen on investing. What could be the safest possible ways to invest for cashflow, in order to afford lifestyle after retirement?
consider investment planning, learning from a well experienced advisor is invaluable
That's right. I am a wife, mother of four and new grandmother, 28 years in Corporate America, retired recently at 57 after discovering the freedom investing could provide, been contributing to my portfolio since the pandemic in early 2020, and have grown a $250,000 savings account to almost 1 million, credits to my investment advisor.
Could you possibly recommend a CFA you've consulted with?
“LAURELYN GROSS POHLMEIER ’’ 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.
I just googled her now and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
OMG this was very informative and mind blowing 🤯 I recently questioned my retirement provider why my Kiwisaver retirement savings have remained the same amount for the last year and the answer I got was very vague 🙈 thank you so much for this documentary it is really helpful even for us that live outside the US 🙏
I think it is because you buy “shares” and if the share price goes down, you lose value. But when the shares go up, you should make it all back and more. But nobody knows when shares will go up or down.
This episode right here. Completely changed my financial future. I can not fathom what my life would be like if I didn’t watch it when it came out. It made look deeper into my program, however it mostly introduced me to jack bogle
That’s cool 👍🏼
If you aren't sure about your advisor or your investment company? Go with Vanguard. Their fees are fair. Their advice puts you first.
As always, Frontline knocks it out of the park. Thank you!
If you think 2 percent fees are bad, wait until you do the math on 25 percent income tax every year.
When you are younger it may sound ok to say you’ll carry on working beyond retirement age, but not when you are at that age. My husband has had a major heart attack and I’ve had cancer. You can’t plan for illness and whether you’ll either want to work or actually be able to
Absolutely. This happens all the time. Aging variables are never calculated on paper.
You can get injured through no fault of your own at any time, and be unable to finish your career. It’s important to live below your means and invest so you have a safety net.
So true
They really should do an updated version of this episode.
america is not updated
Why? Nothing has changed. Only gotten worse. But no change.
In particular, and update on the poorly designed 401k, 403bs, and 457 plans... with a poor selection of over priced funds... especially for employees of schools, universities, and public hospitals. An in depth analysis would be in order.
These days it is easy to set up your own. Roll your old employer plans into your own brokerage. Set up your own Roth IRA, especially when you are younger. Don’t borrow from it or take early withdrawals.
@@jamesflynn10 IRA??? Bruh. Annual contribution max is $6k. Sorry. But you’re not gonna raise what u need for retirement with that.
I wish they would create a curriculum and teach retirement in high school. This is critical so people can save and have security in their old age.
FWIW: When I was in high school back in the early 1970s we were offered an economics course as an elective, which was actually a personal finance course. Great information in that course, taught you about compounding interest (beyond the dry way it was presented in math classes), the stock markets, real estate, loans and financing, and some income tax info (write-offs & deductions). Great, simple information that's still relevant today. Sadly, its gone from today's high schools.
I had one, but I didn't understand it. Sadly, I had a hard time understanding the point and seriousness. Funny how those teacher's and those classes seem to become the most important 23 years later. Huh?