Видео

Thank you for your content.

When do you think is the right time to retire? Drop a comment below!

Zero sum thinking. Some States like California have ALL the taxes, and inferior services. There are enormous differences among States, and income taxation is particularly punitive to the most productive citizens.

Yeah but you get more back into your pay check! People should NOT be TAXED for their work!! That is called a SLAVE!

We're full. Stay in your Democrat hell hole.

Part of the reason I'm planning on moving to Florida. No income tax, roads are actually really nice compared to my current state, my business centers around the older folks market which FL has a big one, gas is 40¢ cheaper per gallon compared to my current state (big deal as I need my truck for work), and it only rains for 30 minutes at a time. The only real downsides are the yearly hurricanes and the humidity but I'm used to working outside so it won't bother me

Sure....go take your hard earned money and pay a "professional" exorbitant fees on a yearly basis to tell you what you could easily do yourself; diversify. You don't need an MBA to figure out the basics. Most of these guys don't know what they're talking about anyway, and the vast majority will steer you into vehicles that will pay them a yearly kickback for "assets under management". You can just take Warren Buffett's advice and put your money in an S&P 500 index fund with low fees, since 99% of the money managers out there can't outperform it anyway. There's no secret formula they have access to. You save what you can save. You'll be able to spend based on that, period. "How much do you need to live on" is an irrelevant question if you're not saving enough to begin with, have unrealistic expectations, or taste too rich for your budget. Other than that, just make sure you have adequate insurance, depending on your personal family/asset situation.

Man that's f***** up the parents moved to be next to the kids and the kids take off on them

Sell "As Is"

If it happens, I'll just retire 😊😊

Needing long term care as i age scares me more than death itself. I dont wanna struggle financially while getting old.

Lots of good information.

Am new to the Fixed Income Security. Do banks offer that? Right now all I am aware of are the high yield CDs.

Thank you for this very valuable information. My first suggestion to my husband was to rent our home in CA or just leave for a certain amount of time, visit AZ where some family resided, check out the area, and see for ourselves if we really wanted to move to AZ. Well long story, last summer we sold our beautiful home in CA and moved to Phoenix area. My children who resided in AZ moved away, and we don't see the other grandchildren (adults) very often (they are young busy with their friends) So we have been renting (we are on 3rd rental) since June of 2023 til now. we are paying for storage that is getting very expensive. We thought we would find a house to purchase right away. The market is crazy and the prices are not what we had expected, again, our fault for being too busy packing, donating, cleaning, sprucing up yard, etc... and moving, to keep a close eye on the market. Needless to say, it appears that everything has gone wrong and I am miserable renting furnished homes. it feels like our lives are on hold. Let this be a wake up call for those wanting to move. By the way we are retired and on retirees income. Now we don't see the avenue to afford a CA home and return to the nice climate that we so much enjoyed, It is an oven here and the humidity is miserable. I wish I had seen this information, that is SO valuable before moving. Great advice and ALL of it true and real! (Southern CA,)

The market will not go to zero.

One never runs out of Social security. One will adjust spending as you go yearly. Adjusting not part of most plans. Did anyone have the same income all their life?

no shi-

Why are people still so naive?

My outlook on money changed when I realized someone making $300,000 can retire broke & someone making $80,000 can retire a multi-millionaire. Living within your means and living a frugal lifestyle is the first step to financial independence. I just hit the one million mark last year, cheers to everyone striving to get there someday.

Given the persisting global economic crisis, it's essential for individuals to focus on diversifying their income streams independent of governmental reliance. This involves exploring options such as stocks, gold, silver, and digital currencies. Despite the adversity in the economy, now is an opportune moment to contemplate these investment avenues.

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 in 3 years.

1 mil is not enough. The current FU number for a single man is 2.5 millions due to inflation and Biden's money printing policy. Women need even more $ because they spend more and live longer.

Replace 'retirement' with 'financial independence' (FI). The goal is to have investments that generate average 3x of pre-FI income. I did it with a variety of mutual/index funds in my IRA on top of my ss and pension income. I have been selling some shares at the highs to build up cash in the IRA for the next crash. Cash is king at the highs and at the lows.

72t allows you to take money from your Ira at any age. But there are rules to follow. And consequences if you do it wrong.

I'm targeting 1 million invested outside my retirement accounts by 45 and I'll quit the 8-5. Make money by building a house every few years. If I can get to 2 million invested outside retirement by 50, I'll probably completely retire... We'll see.

3 years zero% Works for Nationwide

Bitcoin YOLO!

Great informative thank you 😊

Great content but that map is beautiful and going to get me one,

If you need 40K a month to “survive” you are doing it all wrong .

Is anyone wondering why Tom isn’t retired??? 😮

I’ve got a couple of good ETFs in my portfolio and I’m up 47%. I’m also well positioned with good blue chip companies and A.I stocks. I will buy $200K worth of Plantir soon, some experts say it's the next Nvidia. Hoping to retire comfortably in 5 years with at least $2m.

Thank you , great video, makes a lot of sense 👍

Brilliant❤

One other thing we found very helping in driving towards retirement is really understand your average monthly expenses and cut back where you need too.

1. Identity your income. (Known spending to unknown spending) 2. Diminish your debt 3. Reduce your risk 4. Tackle your taxes 5. Polish your plan : address income, inflation, investments, tackle taxes, and healthcare. Do this yearly.

Thanks for the video. I do disagree with the living longer part. We are not actually living "so much longer" check out the average life expectancy. It's actually gone down a little bit. It's a myth currently that people believe and hang on to as a reason to not enjoy retirement by spending less in retirement when you can enjoy it. Then you get sick and pass aware with a ton of money for some else to enjoy. I think the "professionals" just want us to keep our money in their management as long as possible, so they use this narrative. According to the most recent data, a 65-year-old man's average life expectancy is about 82.5. That's only 17.5 yrs if he retires at 65. A woman's is a bit longer at 20.2 years after 65. So not sure where the 30 yrs comes from all the advisors except as I mentioned above. I understand overestimating a little just in case but not 30 years unless some big medical breakthrough happens soon. And if so, then we can go back and work a bit if medicine makes us younger again:) Plus, if I make it to 95, I doubt I'll be spending much on anything but health care. And SS should cover that if people don't take it early.

Great content.

I really like your personality Tom. You come across as a disciple of god and someone who wants to help people. 👍😇

Great information!

All that Shit will be Gone on the 401 -k they will Steal it all from all the hard working people, and give it to Ukraine!! Watch and CCC !!!!! Vote Trump back in 2024 !!!🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸

Aint gonna happen bro. France tried it and the people revolted. Think about it... People already receiving a benefit: a check every month for a given amount with a COLA adjustment (except for the Obama years. He didn't give a COLA for several years of his tenure). And all of a sudden, that check gets reduced??? No way people will stand for that. That will bring a civil war and blood shed. There's only one way to do the cut: Cut those future benefits for people not yet receiving SSA. And doing that will cause a flood of people that were waiting to claim at age 70 to claim at 62... Which will make the problem worse. Thus, the only solution is to raise the cap (income withholding) and means testing to remove the uber high net worth people from the benefit.

Nobody wants to hear this crap they need to figure out how to take Americans not just reduce it they can get money to everybody else and raise everything up but they want to screw us that we paid into it

what should piss Americans off is how corrupt U.S. Justice Department is by not forcing former pres. Bush Jr. paying back the money he took from S.S. to fund his wealthiest friends and fund Iraq war. He and his wealthiest buddies should not be allowed to collect any government deposits until all those funds ($1.34 trillion dollars) are repaid with interest. Nobody is above the law is nothing but bullshit lies again from politicians on Capitol Hill, they're the cause why Social Security is suffering. That was not politicians money to borrow from, I think it's time Americans say this is not enough of the Bullshit Capitol Hill.

Hello from St.Louis. Thanks for your content.

Roberto did try to help

SS should just be completely shut down. It's a ponzi scheme that everyone is forced to pay into

mm-hmmm exactly

What you’re saying is a bunch of shit what’s happening so security is been taken advantage of by our government and giving it to people who never put into it

I'm ten minutes into this and all that's been said so far is "You need to have a plan." Talk about stating the obvious.