Is there a chance they might hv a different outcome if you model the spending smile as their approach? Go-go years 10,000 a month, slo-go years 8,000 a month and no go years $6000 a month. If they don’t hv a house payment this might work.
While a good plan is important, it's crucial to be realistic about your retirement goals. In this scenario, their desired spending and legacy goals might require more than just a better plan. Sometimes, tough choices are necessary, like adjusting spending or working a bit longer. A financial advisor can help you explore all options and create a plan that aligns with your specific needs.
Why do people worry so much about leaving money to kids and grandkids??? You spend money and time on them their entire life teaching them to fish. If they don't learn to become successful and self-sufficient, then too bad. And it's their job to teach their Kids to fish. Whatever I have left over when I die, you can have, but its not my plan. My kids could be 60+ when i die and grand kids 30 yr olds. Why would I be worried about these adults??
For many people, their goal isn’t to provide for their adult children but rather build generational wealth. This can be a great way to leave a legacy when thinking about future generations of your family. It’s important to remember that everyone is different and many of their life’s goals are not all self serving. Thanks for watching!
This scenario makes no sense. 54K a year in SS, plus a stock market return of 12%, which would be 120K equals a total of 174K income. After tax, they should still have enough to bank some cash for those bad years in the market. I made 22% this year in the market. Banked a bunch of cash. Forget the 4% rule. Bank what you make above 12% for the bad years.
@@jasonb4770 Yah, if you want to include the Great Depression. VOO is a weighted SPX fund and returned 14.6% since it's inception in 2010. SP500 has returned 10.6 in the last 25 years. This couples scenario is hypothetical. I certainly don't need 174K a year to live well.
That's an interesting thought! It really depends on their lifestyle and priorities. They might spend on luxury goods and experiences, invest heavily, or give generously to charity. Maybe they're supporting family or funding a business venture. Without debt, they have a lot of freedom with that 10k!
While an 8% withdrawal rate might work for some, it's generally considered a bit aggressive for most retirees. It's important to have a plan that balances your goals with a sustainable withdrawal rate.
was the couple surprised to learn that they might not have enough money???....... if so, then they are very out of touch with reality. Imagine dealing with them...ding-a-lings.
You're right! The video doesn't explicitly mention whether their primary residence is paid off or its current value. This could definitely be a factor in their overall financial picture and retirement planning.
Is there a chance they might hv a different outcome if you model the spending smile as their approach? Go-go years 10,000 a month, slo-go years 8,000 a month and no go years $6000 a month. If they don’t hv a house payment this might work.
They don't need more money, they need a better plan
While a good plan is important, it's crucial to be realistic about your retirement goals. In this scenario, their desired spending and legacy goals might require more than just a better plan. Sometimes, tough choices are necessary, like adjusting spending or working a bit longer. A financial advisor can help you explore all options and create a plan that aligns with your specific needs.
Somebody’s been watching Streamline Financial.
If one has a great pension + SS ( both with COLA's) and no debt one doesn't need a large IRA/TSP
It's not enough for what they want. They can learn it now the easy way, or learn it later the hard way.
Why do people worry so much about leaving money to kids and grandkids??? You spend money and time on them their entire life teaching them to fish. If they don't learn to become successful and self-sufficient, then too bad. And it's their job to teach their Kids to fish. Whatever I have left over when I die, you can have, but its not my plan. My kids could be 60+ when i die and grand kids 30 yr olds. Why would I be worried about these adults??
For many people, their goal isn’t to provide for their adult children but rather build generational wealth. This can be a great way to leave a legacy when thinking about future generations of your family. It’s important to remember that everyone is different and many of their life’s goals are not all self serving. Thanks for watching!
This scenario makes no sense. 54K a year in SS, plus a stock market return of 12%, which would be 120K equals a total of 174K income. After tax, they should still have enough to bank some cash for those bad years in the market. I made 22% this year in the market. Banked a bunch of cash. Forget the 4% rule. Bank what you make above 12% for the bad years.
@@jasonb4770 Yah, if you want to include the Great Depression. VOO is a weighted SPX fund and returned 14.6% since it's inception in 2010. SP500 has returned 10.6 in the last 25 years. This couples scenario is hypothetical. I certainly don't need 174K a year to live well.
Wanting to spend $10K a month from a pot of a million, minus taxes and wanting to leave money for family? No chance!
It would be interesting to see how someone’s spends 10k a month with no debt.
I spend more than that with zero debt.
@ enlighten us
That's an interesting thought! It really depends on their lifestyle and priorities. They might spend on luxury goods and experiences, invest heavily, or give generously to charity. Maybe they're supporting family or funding a business venture. Without debt, they have a lot of freedom with that 10k!
@@pensacola321😂😂😂😂😂
$1million is for both, if you had $1mil and single, debt free, you definitely can have a very nice retired life
Dave Ramsey says an 8% withdrawal rate is no problem so they’re good. Haha
While an 8% withdrawal rate might work for some, it's generally considered a bit aggressive for most retirees. It's important to have a plan that balances your goals with a sustainable withdrawal rate.
2mil usd the sweet spot retirement
was the couple surprised to learn that they might not have enough money???....... if so, then they are very out of touch with reality. Imagine dealing with them...ding-a-lings.
u guys left out their paid house and its value...
You're right! The video doesn't explicitly mention whether their primary residence is paid off or its current value. This could definitely be a factor in their overall financial picture and retirement planning.
1 million .....in the 1990s .