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The average social security benefit is $1,976, not $3,000. Original assumptions can get you into trouble.

I am retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on;

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A lot of people get caught out with 2 year lookback for IRMAA. What you pay in 2025 already determined by 2023 MAGI Key point is planning 2025 income so you stay under base income when 2027 rolls around

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At 17:55 mm:ss you bring up the subject of a "ROTH 401K" and ask whether having a ROTH 401K "starts the Five Year Qualification Clock for distributions" and the answer was "No." (sigh) I wish I'd known this two years ago when I started my ROTH 401K at Microsoft via Fidelity at age 63. I assumed that would start the Five Year Clock and I could start accessing the funds at 68. Now it sounds like I need to quick like a bunny open up a ROTH IRA at Charles Schwab with a trivial IRA Conversion of $100, starting the Five Year ROTH Clock now ... Oh well, 70 isn't that much different than 68 and I have lots of other accounts to draw down from ...

Buffered ETFs replace these nowadays They are so easy to use and you can trade them if you want to

This is really stupid rule for 15 years waiting. The rules should apply to majority of savers rather than punishing them. Only less than 5% in the nation who have 529 longer than 15 years, meaning you have to put 529 when your child was 3 years old and able to roll to ROTH when he turned to 19 years old. Why dont they do like 401k, must wait for 5 years after convers from 401k to ROTH. The next rule will be parents MUST have 8 children to be able to convert to ROTH. RULES ARE STUPID.

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The so-called breakeven justification for collecting benefits is asinine. Most retirees will rely on their monthly payment to live not 1 lump sum total payment. The benefit at 62 is significantly lower than 65 and onward and that reduced payment will be decimated by inflation. If you like your job and don't mind working to or past 65 why not? The advantages are a higher S.S payment, a larger retirement account, cheaper company health insurance with an FSA. Sadly too many people are physically unable to work far into their 60s or worse have spent 40 years at jobs they hate. Luckily many people actually enjoy working and are productive while others realize that retirement isn't all that its cracked up to be.

Retire at 62 sounds good,but no insurance till 65 how do you pay for insurance at 62

Thank you guys!

I was listening while running but I didnt catch it and hope you brought up that her expenses would go up for a few years until she can get on Medicare. With her expenses, social security and over a million in her account she will be fine.

I was listening while running but I didnt catch it and hope you brought up that her expenses would go up for a few years until she can get on Medicare. With her expenses, social security and over a million in her account she will be fine.

SS at 62? NFW. Show me your analysis.

"Medicare Advantage" is PRIVATE INSURANCE healthcare. Don't fall for this scam.

Is there ever a down year? This is the most ridiculous thing I’ve ever seen.

Amazing

Best video on the subject. Thanks!,

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Retirement is supposed to be relaxing, but I find myself stressing over my finances all the time. Does anyone else feel the same?

If i take my SS at 62 will my benefit payments increase when i turn 65 and 67 and 70? Or will it stay the amount i will recieveat 62 for etire duration of benifits? My pension increases every few years.

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How to invest 500,000 for cash flow? seeking info

well done and well laid out..........too often presenters like to tell us how a watch is build when all we wanted to know is what time it is. Your explanation was just what I needed to understand the concept which is exactly what I needed. Thank you.

This is nice if you have 2 million dollars. But for regular people you will work till you die. These videos are only for wealthy people waste of time for any regular people.

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If you have the ability to not take it until you are 70, that means you have other sources of income. If you take it at 62, you can invest all of your SS money. For 8 years of SS payments, invested in a tax free muni account, with compounding, you will have well in excess of $200K. So when you turn 70, armed with the $200K invested in the muni acct, paying you 5% a year, added to your continued lower 62 year old SS payment, you will get the same amount of after tax money as if you waited until you turned 70 to collect. The difference, you have over $20OK in the bank.

What is your commission for selling this product?

$6K from SS? Who? My SS is $2500. I need $7500. That is north of $2M my friend!

Some of the underlying funds have high expenses and the ones that are lower are a bit higher than normal as well. Seems like this product is only suited for very high net worth individuals or those who have extreme tax issues. What is your firm's commission for this product?

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The answer... Around three million dollars.

I have 2 jobs and live on less than $3000 per month. WTF?

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.

You don't need anything special to make your decision on when to retire. Make an honest appraisal of your life expectancy. No subtract 10 years because we are run by a bunch of warmongers that have us in a shooting war with Russia. Now subtract another 5 years because you are overly optimistic about your own health. OK, if your number is under 85, retire now.

I think investors should always put their cash to work, especially In 2025, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2025

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COMON GUYS AT AGE 90 MARY IS EITHER UNDER THE GROUND OR IN A NURSURING HOME GIVING ALL HER SOCIAL SECURITY AND SOME MORE TO THE HOME..LOL.

This should be done for a single person bc thats the headline, AND people who are using 3k each as a couple, will have a lot saved if theyre getting that much SS. I would like to know, and so does every single/unmarried person , what I need saved to have 10k a month. I know the answer based on constant calculating. But its never fool proof, especially with the threat of the impending A holes in govnt admin threatening to take SS from me after paying max to SS for more than 20 yrs and paying into since age 19. Its enough to make me become a criminal as Im sick of paying for other people, absolutely sick of it. I work holidays, and weekdays and nights, missed parties and vacations and weddings, suffered /suffer exhustion and extreme stress as I continue to work in a high stress profession (one I studied for and planned so I could one day retire), have had many sleepless nights getting my work done……, for what? To give my money to the jerk who plans for nothing, calls in sick, 1-2 x a month (wtf) and moves from job to job, lives hand to mouth so he can afford a 80k truck to park in his 150k house driveway and cant sabe any momey bc of it, buys cigarttes and parties every weekend, goes to work hungover on Mondays and that doesnt even reference all the welfare recipients. I grew up poor, respect a hard working consistent person as my apremt were two of them, and all who live by the law and dont tax othet people with their emergency producing lifestyle. But I am done paying. Your government wants you poor and powerless. Make no mistake. They mean to take from you! So, Im thinking of quitting. Cant stand to give trumps admin a freaking penny.

Thanks god for 1.5 speed.

You guys way too slow. Ugh. Your sport coats mean nothing! Get to the point or lose the audience. And no fucking charts?!?! Bye.

Net is all that matters when you are talking about what people need to live on. You’ve negated the value of your $10K analysis by not specifying gross or net.

I just recently came across your channel and really find it very informative. Keep up the great work!

4% rule only takes 4% first year, it is indexed for inflation after that.

What average person is spending $10,000 a month in retirement??

You seem to have a misunderstanding of how the 4% “rule” works. The 4% withdrawal is for the first year ONLY! After that, each year you increase the amount from the previous year by the inflation rate of the previous year, regardless of the balance of the portfolio. So if you start with $1 million you take $40k the first year, and if there was 3% inflation that year you take $41,200. I’m sure you don’t even use the 4% rule for your clients withdrawal strategy, but you should still be able to explain it correctly.

Your hypothetical couple is a fantasy. The average Social Security a person receives is under $1800 a month so if the two people in your hypothetical received $1800 a month each that’s a big difference from the $3000 each of them to receive in your hypothetical scenario. The 4% rule has pretty much been proven that it is not valid. A lot of financial planners now are saying it’s more like a 5% rule for withdraws on your saved retirement nest egg. Taxes are a very real thing, you could end up withdrawing $7,000-$9,000 a month depending on what your tax bracket they are in to net the $10,000 per month.

More graphs, less talk. It's the way I learn.

I love the idea of the "growth" bucket and the "safety" bucket. How many months or years do you recommend keeping in the "safety" bucket, and what is the best approach for replenishing this bucket in either up or down years for the "growth" bucket?