James, this has to be one of my favorite videos from you and also most helpful. I've been doing my best to understand how to create a retirement plan, but it is daunting. I can run all sorts of scenarios and stress test the plan to failure, but I don't know what I'm learning. I understand a lot but I know nothing. This list, and especially the list on Tax Planning helps put a lot of things in perspective. Now I have a better understanding of the different facets of what I need to do and gives me a roadmap to try to reconcile them. Thank you very much.
I am retiring next yr at 55 with 3 houses paid off worth 4.5 million . One is my place of residence the other 2 properties will give me $80,000per/yr rent . I will have an income stream of $20,000 per yr through my super which gives me total $100,000 a yr to live comfortably . I have no debts
I plan to retire at 60. In considering umbrella insurance, IMHO, it’s not just a number to cover liability but also plaintiff’s attorney fees. I have enough in umbrella to make it more attractive for plaintiff and their attorney to take the insurance money instead of suing me in court. It’s so sad that it’s come to this. But I didn’t toil this long and hard for my assets to be taken away by a slip and fall, etc.
Good tips. I’m glad you included the 5th one because if you don’t have a plan or a purpose in retirement you’re not going to be happy. Especially if you’re a Type A type of person.
The current market/economy is unnecessarily tougher for boomers/senior citizens, I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.
I struggle. I'm 60 with 1.8M in my 401K, $450K in cash, $800K in equity in commercial property and another $700K in home equity. I'm currently still working with an annua income of $285,000 + $75,000 in bonus. Can I ride off into the sunset? p.s., I have no debt.
He *seems wise because he knows what he’s talking about and gives excellent advice. What does that have to do with the business climate in the state where he lives and what does it make you wonder?
James is wise beyond his years!!
Well, educated on retirement and read up. 😊
and cute
This guy gives some good advice honestly.
You are a nice young man. Don't let anyone dim your sparkle
James, this has to be one of my favorite videos from you and also most helpful. I've been doing my best to understand how to create a retirement plan, but it is daunting. I can run all sorts of scenarios and stress test the plan to failure, but I don't know what I'm learning. I understand a lot but I know nothing. This list, and especially the list on Tax Planning helps put a lot of things in perspective. Now I have a better understanding of the different facets of what I need to do and gives me a roadmap to try to reconcile them. Thank you very much.
These 5 goals are spot on. These are essential to achieve before 60 or retirement
I am retiring next yr at 55 with 3 houses paid off worth 4.5 million . One is my place of residence the other 2 properties will give me $80,000per/yr rent . I will have an income stream of $20,000 per yr through my super which gives me total $100,000 a yr to live comfortably . I have no debts
Excellent video. Thank you, James.
Glad you enjoyed it!
James,
Great video
Keep up your work!
Fantastic, insightful video. Thank you for sharing.
Thank you, great content!
Thanks James for another very informative video!
Thank you for this great summary.
I plan to retire at 60. In considering umbrella insurance, IMHO, it’s not just a number to cover liability but also plaintiff’s attorney fees. I have enough in umbrella to make it more attractive for plaintiff and their attorney to take the insurance money instead of suing me in court. It’s so sad that it’s come to this. But I didn’t toil this long and hard for my assets to be taken away by a slip and fall, etc.
Ditto
Excellent, crystal-clear content.
I have no idea how to set a life plan - that's the hardest part!
Outstanding video! One of your best. Thank you!
Always great. I need to work on #3.
Good tips. I’m glad you included the 5th one because if you don’t have a plan or a purpose in retirement you’re not going to be happy. Especially if you’re a Type A type of person.
Good concise overview James! I'm about to squeeze the juice......
I WANT TO DO NOTHING IN RETIREMENT 😊
And it was everything I thought it could be 😂
Awesome, you have just what it takes to do it! We believe in you!! 🎉
The current market/economy is unnecessarily tougher for boomers/senior citizens, I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.
Chill, stay the course. This is what the market does...goes up and down.
Are you being sarcastic, boomers have benefited the most in the current economy/market
You need some anonymous YT bot to reveal their special "financial advisor"...that how those scams always start. 😂
Some of the calculations are for retiring in 60s, what might I use for early retirement at 57?
I struggle. I'm 60 with 1.8M in my 401K, $450K in cash, $800K in equity in commercial property and another $700K in home equity. I'm currently still working with an annua income of $285,000 + $75,000 in bonus. Can I ride off into the sunset? p.s., I have no debt.
Keep earning till you can. If its exciting why force retirement?
I say, YES! Go enjoy yourself! 😊
If that’s struggling, I wish I was struggling….
I say it depends on what you expect as a retired lifestyle, of course.
Sorry that you were so behind. You should have at least 10X of your income in liquid asset by now😂
It's all grand. Then you get divorced.
I guess I'm the poor guy in the room 😢
$8000 dollars a month!
That's a pittance in today's high inflation and high cost of living environment
First!!
James seams wise, but he’s located in one of the most business unfriendly states in the union. Makes you wonder
He *seems wise because he knows what he’s talking about and gives excellent advice. What does that have to do with the business climate in the state where he lives and what does it make you wonder?
Wonder what exactly?
People there need financial advice even more, even if it's only "move, run, flee to another state ASAP". 😂