Retiring With $5M. Secrets Revealed. What Does That Life Look Like?
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- Опубліковано 24 січ 2024
- Retiring With $5M. Secrets Revealed. What Would That Life Look Like?
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This information is only provided as an informational resource and should not be viewed as investment advice or recommendations. To get professional financial advice from a fee-only financial advisor near you, please visit www.napfa.org.
The decisions on how to invest, when to retire, and other financial planning topics are some of the most important financial decisions you will make in your life. I urge you to seek professional financial advice as you make this decision. Ideally, from a financial adviser, AND a CPA AND an attorney. Having the perspective of all three professions will help you make the right decision for you and your family.
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![This Is What A Real $5M Portfolio Looks Like In Retirement [Case Study] ᴴᴰ](http://i.ytimg.com/vi/OH3lBFfGkA8/mqdefault.jpg)
Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.
$5M with 4% rule is $200k inflation-adjusted, and add maybe $50k from Social Security, so $250k per year. When the average person thinks of someone’s lifestyle with $5M in savings, they think of private jets, sports cars, and big vacations. Not at all true at $5M!
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.
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.
“ Fewer than 1/10 of one percent will ever reach the $5 million mark.” Seems like pretty much all of them are in the comments section.
Our peak era has passed, with 401(k)s struggling during the recession. My $750K retirement portfolio is shrinking due to inflation, and I fear our leaders are repeating the mistakes of the past. If rising costs worry you about your retirement, I empathize. The American elections are bringing uncertainty with chaotic foreign policies, regulations, and energy strategies.
I retired a year ago at age 64. My wife and I are comfortable and could afford to spend more than we do. Our expenses last year, putting our son’s wedding aside, amounted to approximately $75k. That included a couple of vacations. We buy what we want when we want or need it, but we continue to live our normal lives. We still laugh about eating tacos on Taco Tuesdays etc. I can’t imagine spending much beyond $100k in any normal year. Our joy comes from spending money on our grand kids!
I genuinely mean it when I express my stress and concern regarding the market crash and high inflation, particularly in relation to my retirement. I have been experiencing losses for quite some time, and while some may argue that crises can present opportunities, I am feeling overwhelmed. However, I understand that investing is a long-term endeavor, and it is crucial to maintain focus on the bigger picture and the long run...
Azul is correct, no one just flips a switch when they retire and go from frugal to spendthrift when they stop working - you develop your lifestyle in your 30's and 40's and pretty much live that way the rest of your life - its just the truth...
Great Points: As one gets older and is nauseated by the wasting of money (shopping for new clothes, rip-off boozy expensive restaurants, etc. ) and where one is not INSECURE and does not need to "show off" it gets rather easy and indeed ENJOYABLE to live an simple and frugal life... I may be inheriting 8 figures and I have NO intention to ever use it, merely to leave it to the people I love. God willing it will not "destroy" them. Ideally, I'll write up some trusts to protect them forever from their future wives👺.
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.
None of my neighbors know how much money I have. I live in a middle class suburban neighborhood. I drive a car about equal to the ones I see around the neighborhood. I don't act rich: I had a contractor come over to look at my kitchen cabinets because I wanted them to look better. He went into the ways to save money by just changing the doors, etc.
It’s a little funny that majority audience of this channel are the super savers and the already retirement-smart folks. Hope to become one of you when I retire. In my 40’s here 😎 and learning.
Early-retired 10 months ago a 54. Crossed the $5M net worth mark this week. Before retirement, I spent $85K/year for a family of four. My post retirement spend rate is trending to $120K/year due to the insane cost of health insurance for people that are unemployed, under 65, but still have an upper middle-class income stream. I don't feel wealthy or feel like I can safely spend much more than I currently do, even though everyone seems to think I should.
Hi Azul san. Enjoying your vids from Tokyo, Japan. Today, Nikkei (not the index, but the paper. Our version of WSJ and FT) reported that central Tokyo properties gained 37% during 2023. I googled the per square meter of my place to do a casual valuation of my property. That took my net worth over 4mil for the first time. I had decided to retire in six months already, so this certainly doesn’t affect my thinking, but it did give me an additional piece of mind. Sure it might not affect people who have accumulated a lot more than me, but I’ll just say, that if I were to visit Salt Lake City, I’d stay there for three weeks rather than two, which I had in mind before. Subtle, but a big deal to me. That’s all I can say. Many thanks for your insights!
Top 1% household in USA by net worth is over 10M. 5M is between 1% and 2%. When I was young I thought these were big mountains. But once you are on top of them, you realize they are just hills. They are enough to support a comfortable life style, but nothing luxurious.
Let’s face it once you get to $5 million. You quickly realize this isn’t what I thought it was! I’m currently there, and I still complain about alcoholic drinks when I go out to dinner.
Been watching you and subscribed when you were just starting the channel. Now you’re getting close to 100k subscribers! Congratulations and show us your UA-cam award when you reach the 100k milestone!
We have the equivalent of $6.5m but it is based on our $205K inflation adjusted annual pretax pension. Our IRS savings and home sale windfalls have added another $1.5m. We have downsized and have 22 and 6 year old cars. We follow Azul advice and basically buy experiences with our money and travel 4-6 months a year. After living out of carry-ons for months at a time, you realize that you don’t need or want things. We dropped the idea that a house is an investment. We rent at half the price it would cost to buy and invest instead. Plus we are FREE from maintenance.
I enjoyed this. I love your videos and you seem like such a nice and down to earth person. Thank you.