More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
More reason I enjoy my day to day market decisions is that i'm being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to
talking about coaching, do u consider anyone worthy for recommendations? I have about 80k to taste the waters now that large cap stocks are at a discount... thanks
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Melissa Terri Swayne turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
I’m 77 and still working full time. I do enjoy my work, it provides me with purpose and has secured my financial future. Most people are too eager to retire as early as possible. Even if you do retire early, best to get a part time job for the reasons cited above, as well as following many if not all of the suggestions in this video.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
How big is your nest egg/s? If you have ANY debt, get it all paid off. working. Save and invest any extra money you don't need to live on while you're still working. When you're 65, you can go on Medicare, which limits your out-of-pocket for medical bills incurred.
Hi Ramsey, you are a true blessing to the world. I am your ardent viewer from Ghana, West Africa and i'm here taking notes and life changing lessons. Thank you.
Am 58 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.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I am 27 and i just started my ROTH IRA and deposited the max for 2024! I feel stupid for how long it took to get my life straight. The problem here is, what is the best way to invest the money to grow for retirement?
I believe every Investor should start with ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth.
You don't need to find the next NVDA to succeed in the market. Just choose top-notch ETFs and partner with a CFA like I did. I turned my $90k inveestment to one that yields $50,000 in annual dividends-a significant milestone for me today.
Impressive! I admit I'm scared about retirement as I'm approach that chapter. I need to ensure I have enough savings to survive on. My retirement account isn't doing great. Now, I need that professional rescue. Please direct me on how to reach a sound adviser
Kathleen sure knows her onions in this industry, from her intimidating profile which I went through, on her web home page. I started off last year tailoring a colleague's retirement strategies but it didn't pan out well. Hopeful that Kathleen will attend to my message.
The Philippines is definitely a good retirement destination. Everyone speaks English, can live on around $1500 USD month, dollar goes ALONG way. Only thing is the heat and humidity.
Also depend on how long you worked and how much you put in. For years I have finished paying the maximum each year in September. I get the maximum SS benefit when the time comes. As far as some dying before collecting that's just how it works. My mom has been retired for 50 years and still drawing $1500/mo. SS at 100 so it works both ways.
For me, I believe 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.
*_I just turned 60, was planning to Retire Soon with a FORD? BooM the Economy Crashes into Recession and High Inflation! I guess I will keep working another yr or 2?.._*
Thanks for the advice. I found her page already. and left her a msg. It won't be a bad Idea to be investing while working. So that economy crashing doesn't affect our retirement
I'm close to 60 and have worked in construction since 15 years old. I'm ready to retire. Every part of my body aches. Been getting up at 5 am since I was 15. It will be nice to get up when I want. No pension just savings to live on. Heard too much counsel about ROCHELLE DUNGCA-SCHREIBER. Hearing you mention her name again, this is the best time to work with her. Thanks
I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
That sounds like a good plan. In the past two years, working closely with a financial market specialist, I've built a six-figure diversified stock portfolio. Now, I aim to diversify even more this year.
Talking about a financial market specialist, do you consider anyone worthy of recommendations? I have about 100k to test the waters now that large cap stocks are at a discount... Thanks
“NICOLE ANASTASIA PLUMLEE’’ is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
This is a PRIME example for all of us to SAVE & INVEST while you're young in order to retire comfortably and not have to worry about money. Being young and broke is fine because you can bounce back...being old and broke is extremely hard. Happy investing everyone!
The key is start investing when you are young. If you keep putting it off it gets harder. I see so many aged 25 to 41 who have no investments going on. They seem to think every thing will work out when they get older. Having no investment plans means you are not going to have enough to live on when you're old and past your prime.
@@injanhoi1 that's because people from 25 to 41 and even older are still trying to graduate, find work, build family etc. They often don't have money to even cover for necessities. Plus they have debt on top of it. Student loans, mortgage etc. By the time you are at baby step when you finally can start investing at least $100 a month - you are already in your 50's. This is how majority in US lives. Average family in USA lives from paycheck to paycheck.
This lady sounds more intelligent than most people. Most definitely can make some money from home even if it's just remote customer service. I know people that do this and love it.
Well, I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises plummeting stocks that were once revered and I don't know where to go here out of devastation.
You should talk to her over retirement planner. You’re probably set up in some things that are just too aggressive. If you have the time to slow and steady approach, always wins.
Thank GOD that my Jr High school taught us about the stock market (in the 1970's) and we did stock market simulations... pre internet and we had to take the business section of the newspaper once a week and graph our fake portfolio. When I graduated college I started investing. I'm now 61 and will be retiring next year with a personal net worth of $3.5 million, and my wife's net worth is considerably more. We are both savers, investors and we each sold businesses and did well. That Jr. High class put the bug into me when one of my stocks shot up 200%.
I’m closing in on retirement, and I'd love to move from Minnesota to a warmer climate, but home prices are ridiculous now.. do I look at other assets and wait for housing crash, or go ahead with house purchase anyways?
I total agree, get the assistance of an expert and save yourself the troubles that comes with investing or trading. As for me, I am very busy with work, I do not have time to monitor my investment, but I still make so much profit every time. That is because I have someone doing all the work on my behalf.
The advisor that guides me is “Tenley Megan Amerson” , most likely the internet is where to find her basic info, just search her name. She's established.
It’s a tough call man. Just be glad to own real estate. I’m 51 my wife 46. We talk strategy here and there. I live in one of the most reasonable places in the country to live, here in N. Indiana and even a 2-3 bedroom downsize card house is 270k. A decent 4 bedroom 400k+. Would be reeeeeealy hard to swallow burning up so much hard earned equity to downsize
Food for thought: Place a sizable portion of your capital/savings in fixed-income securities like treasury bills, corporate bonds, government securities, debentures and let it grow. It will take you far I promise.
If you have a problem saving maybe because of a tight financial budget or something then there would be nothing to keep aside to invest in the first place.
@@callumfrank I understand the situation is not the same for every one but it's very important to cut your coat according to your size and find contingent ways to save, then you can find the best options to invest that money. It's possible for anyone.
@B Most of them I know usually act as glorified salesmen. And they all want your money lol. Since yours is a bit different please can you recommend so I can do my research?
Most people live paycheck to paycheck so have nothing to invest. Even if they do invest something comes up and they have to take it out anyway. Most people don't have extra money and those that do waste it on something dumb.
There is always the roommate option to help for a while. It could be more than just financial assistance. Home upkeep, cooking, ride share, someone to talk to if you want……
I was watching this video and then my neighbor came over and we watched it together... He said that this video changed his life and touched his heart... I then went and rented a projector in a big field and my entire town watched it and it changed their lives too... We all are so grateful... Thank You for this video...
@eucharistangel4662 Well maybe he’s exaggerating a little and not the whole town came out but only 90% of them. Hopefully there wasn’t a string of home invasions with all those people out of the house watching this video on a giant projector.
Great response, to encourage a disabled person to see if they can find something that they can do, even just a few hours per week to earn some extra income. We need more support and facilitation to help disabled people in this way. I know a quadriplegic woman who has chosen to work in a job helping other disabled people. She is intelligent and speaks very well. She is wheelchair bound and requires carer support. But she blows me away that she got this job. She enjoys it too.
I would be more worried about medical costs in her situation which didn't enter into the conversation at all - I doubt that it is included within her very limited budget and she did say that she has problems.
@@Fishouta Medicare helps, but it does not cover all costs. Also, I believe there is the "donut hole" wherein the person is responsible for medications from the $2k to $10k per year range. Please do not quote me on those amounts. But, I hear you on her having medicare to some extent. Not as much as you might think. I recall reading wherein the average retiree will have roughly $200k in medical costs which are not covered by medicare.
For people on fixed income - the best way to fit into budget is to move to an area where renting is cheap. Renting for $600 and having $1000 to live is much better than renting for $1000 and having only $600 left for everything else.
@@cindybrannen6597 - Yes, I'm in Hendersonville and I was shocked she said, "$600 a month." This may be because she's living in a relative's home or owns her home.
No there are plenty of places for people on fixed income just have to get off their ass and look around, for people on fixed income - the best way to fit into budget is to continue living your life and being grateful for what you have... Because a lot of these people in the comments aren't even happy, and have no life because they're putting all there money away to be a millionaire at age 70 😂
If I could impart any advice to young people, it would be to live frugally and start saving and investing early. I never had a high salary or worked for a company that offered a 401(k) or pension. I established IRA and non-IRA brokerage accounts in my mid-20s. I always worked full-time-plus, lived frugally, and saved and invested aggressively and consistently. I retired 3 years ago at 63. At 66, I have zero debt and a net worth of $13.5 million, mostly in stocks and mortgage-free residential and commercial rental properties. It can be done, but one must start early and make sacrifices.
So, 1600 a month. This can be done. Move to a very cheap area and find someone to split the rent with. No car. Can’t use one anyway, from what I heard. Buy clothes at Salvation Army or such. There are safety nets for folks with this low of income. This is the kind of thinking you have to get into.
Ouch, $600-700 for everything except rent is pretty brutal, possibly doable, but it would be really hard if a large emergency came up like medical or if her rent starts to outpace her SS income. I think she needs to find some part time work that she can handle as well as find somewhere cheaper than $1000/m for rent, 2/3rds of total income on rent is way too much.
That may be the cheapest she can find in her area. A 1 bedroom in our area is at least 1600 and there are hardly any studios. Even a room in a house is 800 to 1000.
When you're retired and have no debt. It is amazing how your money keeps growing. The last 10 years I must have spent at least A hundred and fifty thosand. Bought two vehicles, expedition and lincoln paid cash, bought another lot and added on a another two-car garage. I lived below my means for years and worked to pay off two homes. Sold one. I still have the same amount of money when I first retired.
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 determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.
This is true. I’m in my mid 50’s now. My wife and I were following this trajectory last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits but at least I earn more and my retirement fund has grown way more than it would have just with the 401k
Bravo! How does one locate such an astounding financial planner? I’m semi retired and would undoubtedly want first class management on a much larger portfolio. I don’t want to take chances, could you please refer me to yours?
The most important single thing you can do for financial independence is to OWN your own home. Buy young, pay off early put money into retirement fund.
With owning instead of renting you will end up with less money in your retirement account. Reason being is because renting an apartment and owning a house free and clear cost about the same per month. However most people have to make mortgage payments for decades and thats money every month that could instead be going in to a retirement account.
@@davidleonard4925 disagree strongly. My house is paid. Has been for 15+ years. Tax on it is about $11K plus upkeep with averages around $5k a year. With rent for a half way decent apartment in my area $2k+ a month, I am not understanding your logic. Also, house is worth ~$800k. I’ll stick with home ownership.
@@BSinNH Each person would need to run the numbers for the area they want to live. In my area the numbers are very close to the same with owning a house or renting an apartment.
@@davidleonard4925 You’re paying tax on your income that is used to pay rent. Owning a home allows you to live on less, plus a home purchased on a loan also has inflation on its side.
@@AussieZeKieL Well right now we have high inflation but proper values are dropping due to mortgage rates being more then double what they were a year ago. So there are less buyers that can afford property.
Awesome! love your perspective. I currently make 106k/yr. No home or iπvestment and the job is in NY as I work from home. I need to do something quick or else I’m going to be paying thousands to the IRS come tax season. What can I do?
Opportunities comes infrequently, Invest now to achieve financial Independence. I engage on different sectors with the help of a Financial Advisor and now success feels easier than I thought.
@@sheliaswelttk2535 Thanks for this piece of advice. if you don't mind how can I get in touch with your Financial Advisor? really need help with my finances.
@@williamskohler8337 I work with (Tracy Helene Aalvik) a well known advisor. You can look her up in the internet with her name mentioned and get in touch with her.
@@sheliaswelttk2535 Tracy is the best in this space, I'm happy to come across these recommendations. I have worked with her and I am impressed with the thoroughness and professionalism of the investment diligence packages she provides
@@tomjason2495 To better understand the potential factors that contribute to your finance as a beginner. It's best to seek the help of a Fin. Advisor. They have wealth of information on current conditions and future trends.
Americans estimate they’ll need more than $1 million to retire comfortably, but most aren’t bullish about meeting that goal. I’ve been sitting on over $745K equity from a home sale and I want to invest on the stock market, how do I achieve this?
American workers are losing ground on retirement readiness and increasing the risk of outliving their assets, we all need to do more to help improve the savings and retirement security. If you're not who understands strategies to invest in the market, seek a Financial advisor to guide you.
Having an investment adviser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly and I made over $420K within few months
I'm afraid I'm going to have to nitpick here. It's all about your debt load in retirement and how much you've paid into social security during your working years for the average person. There's way too many RUclips videos based on living off interest and dividends and consequently come up with crazy high numbers for the financial resources you need to be able to retire. I know it's not always possible, but the most important goal prior to retirement should be to retire debt-free.
Young and broke is a 1,000 easier than being old and broke folks. Remember these wise words folks! Save early and often. Avoid debt! Live within your means. 😊
Actually living BELOW your means to avoid "lifestyle creep" is better... I managed for years on just $1200-1600 on disability... but when my pensions FINALLY kicked in I chose to keep the $1600 a month lifestyle and invest the extra $425..Two years later I have an investments portfolio in the low 11K figures and still hung onto the EF of 10K. The goal is to put away 3 years of living income/benefits.. and at the pace I am going it will take a few years.. but I see an extra $100 a month if I need it from both funds
I'll never understand why older people, say over 60, would ever sell their house. I'm 62 and though I'm not crazy about the city in which I live, the house I have is in a great neighborhood to be able to eventually rent out. Rental income, SS, and a part time job, living either overseas in a less expensive country, or even here in the USA in a less expensive area, all contribute to more security in older age. It's also amazing how much my expenses have gone down with age. I traveled the world when young, so don't have a need to do that. NO new fashion at all. Eat at home. Simple pleasures really become enough. She doesn't need to be paying 1K in rent. I would never do that. Move somewhere less expensive.
when the renters do 30k in damage to your house you may rethink being a landlord. also if they know you are out of the country they suddenly think they no longer need to keep paying rent, ask me how i know.
@@makeitpay8241 I've been a landlord for over 20 years. I pay for a property management company. It's worth every penny. Have not had those types of problems. By the tone of your message, I'm guessing you're a male. I'm not interested in how you know. Not being cheap upfront saves lots of headaches.
@@TS-rd7oy in my home state the tenant has all of the rights and the property owner gets to jump through hoops for many weeks until you can finally get the person out. i'm all set with that foolishness. if i no longer need my current home i will sell it in a new york minute and move on. however if it is working for you then that's great.
I sold my house at 56. It was a large older house turning into a money pit, made worse by unscroupulous contractors who did not do improvements/fixes as they should have. I put more money into that house some years than the rent I pay now. (I got a great deal renting at 600 per month) Later will probably buy a condo. Home ownership is not all that it's cracked up to be and not for all people at certain stages of their life. Now I can just lock the door of my small crashpad and travel the world. Minimalism is freedom. I could not have done that with a big house. No financial 'suprises' so I know how much I can invest every month. Also, I have been a landlord. It can be risky and a real headache.
Her house wasn't paid off. Sounds like her mortgage was way more than 1k a month so she sold and took the profits. Social security pays her rent. The goal is to pay a house off then she could keep that 1k a month. I'm a realtor and it amazes me how people 50+ buy thier first home. They will have to work until 80 to pay it off. Pay your house off then look at renting it a buy another. When you can't work. Live in the paid off house and rent the new house
The thing is, there are two sides to the equation. Income vs. Expenses. We chose to address the Expenses side of the equation by moving abroad rather than trying to retire in the States. It works.
anything you can do on a computer, you can do laying down. Reclining workstation was the best thing I've ever done, I work laying down more often than not.
@@naca1553 The wife going to the mall everyday on a $150 shopping spree for more shoes or more clothes has been a real boost to my monthly income now were divorced.
Unfortunately this is the situation that our older Americans are facing. She needs to find cheaper rent, find a roommate and get a part-time position. God Bless!
It's worse than that... She sold her business for $200k and yet her net worth is well under $200k... even after selling her house! She MUST have used her house as collateral for business loans and the bank forced the sale.
Captain obvious says she wasn’t thinking about retirement much. Not only that, people were not thinking about retirement or investing back in her day when she was 34. You have a leg up on a lot of people. Relax your doing fine 😊
High inflation at the grocery stores and insurance is preventing me putting in as much as I want to for retirement and savings and it’s annoying the heck out of me. Inflation absolutely has to be brought under control in double quick time. Luckily for me I have time but people in their 60s are in trouble.
what can I do? I have been disabled since 2009 and I am 58 years old at the verge of retirement. My portfolio of $750k is down to $492k, How can I profit from the present market" , I mean I've heard of people making up to $250k in couple weeks during this crash and I'd like to know how.
The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
I agree, before the pandemic got real serious, I used to handle all my investment and I was pretty good at it, fast forward to post-pandemic and my-portfolio is steady in the red with profit rate down to the lowest, that's when I touched-base with a coach I saw featured on business week, who restructured my portfolio and over the last couple years, I've made over $850k from initially $210K
I see a lot of bots in the comments trying to convince people if they only contact this certain person, they'll make you a lot of money. Big giveaway is people who have no RUclips content.
I'm 42, all debt paid off but mortgage (250k 2.7% interest house worth 500k) own a 120k rental property no loan on it, 150k in retirement accounts, investing 2800 a month into retirement accounts and paying 1k extra a month to mortgage, have 6 month rainy day fund. I'm worried I won't have enough but if I stick to the plan I can.
I’m 55 from southeastern Ohio but worked overseas all my life. I have savings of $1,000,000 and I'm ready for retirement, only concerned about the soaring inflation. Is this enough to retire comfortably, or do I need some sort of money management
I would get money management just in case. You’re only 55. I think the average life expectancy in the US is 77.5 years, but many people live well into their 80s so that $1 million has to last you all of that and the unforeseen. $1m is a great start though. Good for you!
I’m quite lucky exposed to personal finance at early age, started job 19, purchased first home 28. Going forward, got laid-off at 36 just after covid-outbreak, and at once hired an advisor with grit to help stay afloat. As of today, my portfolio has yielded over 300%, summing up $836k. Stay motivated friends
I'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with "Kristin Amber Landis" for years and highly recommend her. Look her up to see if she meets your criteria.
I would love to hear what Dave thinks of JEPI and JEPQ. I am retirement age and put some of my money in these two funds. I get monthly dividends and it helps!
rent is going to increase faster than social security, everyone has to work some, and everyone is looking for help right now, so pick you out a gravy job, you have to have a reason to get off the couch
So the income need is $7200 per year. Would be very easy to take the 200,000 and invest it in a basket of stocks that provide a dividend yield of 4 percent for income of $8000 per year. Then take the $800 per year that you have left and buy more shares. Or take a look at CDs that may give you 5 percent.
I can see that you are concerned about your retirement planning. It's important to note that the minimum amount you should aim to save for retirement is 10 to 12 times your final annual salary or income before taxes, excluding social security benefits. Additionally, if you are a couple aged 65 years old, you may need roughly $315,000 for out-of-pocket medical expenses during retirement. Ultimately, the decision on how much to save is up to you, as everyone's financial situation is unique.
I really think she should get something part time to supplement her income. They brought greeters back to Walmart. She could do that 1-2 days a week and add an extra $800-$1000 a month to her budget
@@caracal9458 I’ve seen Walmart greeters sitting on those roller walkers before. It was more of showing there are things she can do to get her income up that don’t require a full time work schedule
Bless your hearts for this site and the postings!!! We are fortunate that an excellent job with great benefits left us with $100,000 per month pension income. SS brings us another $40k per yr. That same great job left us a profit sharing paycheck after 40 yrs of 2,3 million dollars. We have been invested in stock market over 40 yrs. We are truly retired as in no one is actively working. At 70 and 73 we enjoy travel, stage plays and dog shows. Not big spenders. I buy what pleases me with my same critical eye. Buy assets not liabilities.
That's one question I never had to ask about. Debt free since I was 36. My house is fully paid for. I don't do any substance abused. Able to work and been hustling for bucks since I was 13. I'm 60, I'm working as a caregiver now. Was in construction most of my life as an masonry. Older I get, the easier my jobs will get. Planning to take it easy at age 67. But will continue to hustle for bucks until death. So I'll have income coming in all the time. I have a strict budget and always stuck with it. That's how I'm able to save tons of money. So I always had a nice emergency fund. My bills are super low as I try to be mostly self-efficacy.
I agree as it helps a lot. Living in So. Cal. it's very hard to pay rent on SS. It also helps to know how to do maintenance. The big variable are taxes. But it doesn't always work as some have too big a home with large maintenance costs and taxes.
standard Ramsey advice... buy a house with 20% down and 25% of take home on a 15 year mortgage. done. her rent problem is solved. she can live out her years. I mean, that's about 36k for her house.... so a trailer then. but in reality she has 200k and 1000 per month SS that doesn't care where she lives. you can liquidate half and buy 100k house somewhere and live fine... I think. at least you would freeze that house and have 12k a year plus investment interest.
I feel for this caller. It’s hard getting/being old. When you’re young, you have the support of your family, teachers, and coaches - everybody, really. All of these people die at some point leaving just you to figure it out. The wind is at your back pushing you forward. No matter what you do, you just go forward. You’re a kid, so it’s ok to not know what you’re doing and to look stupid. As you age, things get harder and it’s as if your brain and body conspire against you. Things change; the way things were when we were kids has been replaced with new ways of doing things that often don’t make sense to a middle aged adult.
I sympathize to an extent but at some point you have to GROW UP and be an adult. How is it that so many people figure this stuff out and yet you are ready to play the victim?
In addition to getting a PT WFH job, what if the caller took her assets and moved them into a higher dividend-yielding ETF such as JEPI or JEPQ that will pay her on a monthly of around 8-10% annually. At $200K, that would give her a little bit more cushion each month.
Does Ramsey reply to comments???? He says NEVER get an extended car warranty, but what does Dave Ramsey say about like my house, I own my home out right, should I pay 3000.00 a year for home owners insurance on my home that is only valued at 250K, what about car insurance, My truck is paid off, I own it, should I drop FULL coverage or just do LIABILITY???????????????
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Donnafrank-k6e However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
She needs to put the $200k all in schd and it will pay her about $600-$700 per month pretty consistent however still offer a little growth long term. Plus no federal taxes on the money.
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More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
More reason I enjoy my day to day market decisions is that i'm being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to
talking about coaching, do u consider anyone worthy for recommendations? I have about 80k to taste the waters now that large cap stocks are at a discount... thanks
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Melissa Terri Swayne turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
I just checked her out on google and I have sent her an email. I hope she gets back to me soon.
My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
I’m 77 and still working full time. I do enjoy my work, it provides me with purpose and has secured my financial future. Most people are too eager to retire as early as possible. Even if you do retire early, best to get a part time job for the reasons cited above, as well as following many if not all of the suggestions in this video.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
The advisor that guides me is Sonya lee Mitchell, most likely the internet is where to find her basic info, just search her name. She's established.
Thank you so much, this is exactly what I needed right now. I wrote her an email and am waiting for her reply. Hopefully, she responds soon.
How big is your nest egg/s?
If you have ANY debt, get it all paid off.
working.
Save and invest any extra money you don't need to live on while you're still working.
When you're 65, you can go on Medicare, which limits your out-of-pocket for medical bills incurred.
Hi Ramsey, you are a true blessing to the world. I am your ardent viewer from Ghana, West Africa and i'm here taking notes and life changing lessons. Thank you.
Am 58 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.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I am 27 and i just started my ROTH IRA and deposited the max for 2024! I feel stupid for how long it took to get my life straight. The problem here is, what is the best way to invest the money to grow for retirement?
I believe every Investor should start with ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth.
You don't need to find the next NVDA to succeed in the market. Just choose top-notch ETFs and partner with a CFA like I did. I turned my $90k inveestment to one that yields $50,000 in annual dividends-a significant milestone for me today.
Impressive! I admit I'm scared about retirement as I'm approach that chapter. I need to ensure I have enough savings to survive on. My retirement account isn't doing great. Now, I need that professional rescue. Please direct me on how to reach a sound adviser
Kathleen sure knows her onions in this industry, from her intimidating profile which I went through, on her web home page. I started off last year tailoring a colleague's retirement strategies but it didn't pan out well. Hopeful that Kathleen will attend to my message.
@@PhilipMurray251this is one of the most nonsensical bot replies I’ve ever seen hahah
Retirement in The Philippines just keeps looking and sounding so much better. 😊😊😊😊😊😊
That is still unaffordable for most Americans. I would suggest you look at Sri Lanka.
Portugal. Retire on SS
@@RusskiCommieBotthe phippines is a lot cheaper to live in retirement then the US.
The Philippines is definitely a good retirement destination. Everyone speaks English, can live on around $1500 USD month, dollar goes ALONG way. Only thing is the heat and humidity.
How is the healthcare system in the Philippines?
Love that. There is hope because you are still breathing and hope because you are paying attention
Enough to retire? That depends on how long you live. I'm 71 and 1/3 of my classmates are gone, several NEVER drew a nickel SS.
Also depend on how long you worked and how much you put in. For years I have finished paying the maximum each year in September.
I get the maximum SS benefit when the time comes.
As far as some dying before collecting that's just how it works.
My mom has been retired for 50 years and still drawing $1500/mo. SS at 100 so it works both ways.
Why I took it early and retired...
Exactly why I’m pulling mine as soon as I can if it’s still available
@@blackworldtraveler3711 that's awesome but most people, the vast majority, won't are 90 especially if you are a man. Most men won't even see 80.
Wow that's 😔 very sad !! Yes guess we never know. Thank you for mentioning that.
For me, I believe 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 determine a lot of things.
Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
Please who is the manager that assist you......
thanks for recommending i find her....
Could Not/Would Not
*_I just turned 60, was planning to Retire Soon with a FORD? BooM the Economy Crashes into Recession and High Inflation! I guess I will keep working another yr or 2?.._*
Thanks for the advice. I found her page already. and left her a msg. It won't be a bad Idea to be investing while working. So that economy crashing doesn't affect our retirement
I'm close to 60 and have worked in construction since 15 years old. I'm ready to retire. Every part of my body aches. Been getting up at 5 am since I was 15. It will be nice to get up when I want. No pension just savings to live on. Heard too much counsel about ROCHELLE DUNGCA-SCHREIBER. Hearing you mention her name again, this is the best time to work with her. Thanks
Now Inflation is unser 3% again an World ETF Like FTSE All World Made 15% simce Oktober
I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
That sounds like a good plan. In the past two years, working closely with a financial market specialist, I've built a six-figure diversified stock portfolio. Now, I aim to diversify even more this year.
Talking about a financial market specialist, do you consider anyone worthy of recommendations? I have about 100k to test the waters now that large cap stocks are at a discount... Thanks
“NICOLE ANASTASIA PLUMLEE’’ is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
This is a PRIME example for all of us to SAVE & INVEST while you're young in order to retire comfortably and not have to worry about money. Being young and broke is fine because you can bounce back...being old and broke is extremely hard. Happy investing everyone!
Theres really not much you can do when your old and broke but carry on as best you can.
@@andrewsmith8715 for sure! Lets hope we age in wealth!
@@Flipflopfinance Indeed
The key is start investing when you are young. If you keep putting it off it gets harder. I see so many aged 25 to 41 who have no investments going on. They seem to think every thing will work out when they get older. Having no investment plans means you are not going to have enough to live on when you're old and past your prime.
@@injanhoi1 that's because people from 25 to 41 and even older are still trying to graduate, find work, build family etc. They often don't have money to even cover for necessities. Plus they have debt on top of it. Student loans, mortgage etc. By the time you are at baby step when you finally can start investing at least $100 a month - you are already in your 50's. This is how majority in US lives. Average family in USA lives from paycheck to paycheck.
This lady sounds more intelligent than most people. Most definitely can make some money from home even if it's just remote customer service. I know people that do this and love it.
people love customer service ?
Well, I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises plummeting stocks that were once revered and I don't know where to go here out of devastation.
You should talk to her over retirement planner. You’re probably set up in some things that are just too aggressive. If you have the time to slow and steady approach, always wins.
scambot alarm!!
Smart vester pro is not even talk with her given her small portfolio or they will charge her more than monthly budget. Atleast thats my experience.
Thank GOD that my Jr High school taught us about the stock market (in the 1970's) and we did stock market simulations... pre internet and we had to take the business section of the newspaper once a week and graph our fake portfolio. When I graduated college I started investing. I'm now 61 and will be retiring next year with a personal net worth of $3.5 million, and my wife's net worth is considerably more. We are both savers, investors and we each sold businesses and did well. That Jr. High class put the bug into me when one of my stocks shot up 200%.
You and your wife have separate net worths?
@@user-xw4vg1vy5e Seems like a guy that was smart enough to get a prenup.
I’m closing in on retirement, and I'd love to move from Minnesota to a warmer climate, but home prices are ridiculous now.. do I look at other assets and wait for housing crash, or go ahead with house purchase anyways?
I total agree, get the assistance of an expert and save yourself the troubles that comes with investing or trading. As for me, I am very busy with work, I do not have time to monitor my investment, but I still make so much profit every time. That is because I have someone doing all the work on my behalf.
nice! once you hit a big milestone, the next comes easier, who is your advisor please, if you dont mind me asking?
The advisor that guides me is “Tenley Megan Amerson” , most likely the internet is where to find her basic info, just search her name. She's established.
I just checked her out on google and I have sent her an email. I hope she gets back to me soon.
It’s a tough call man. Just be glad to own real estate. I’m 51 my wife 46. We talk strategy here and there. I live in one of the most reasonable places in the country to live, here in N. Indiana and even a 2-3 bedroom downsize card house is 270k. A decent 4 bedroom 400k+. Would be reeeeeealy hard to swallow burning up so much hard earned equity to downsize
Food for thought: Place a sizable portion of your capital/savings in fixed-income securities like treasury bills, corporate bonds, government securities, debentures and let it grow. It will take you far I promise.
If you have a problem saving maybe because of a tight financial budget or something then there would be nothing to keep aside to invest in the first place.
@@callumfrank I understand the situation is not the same for every one but it's very important to cut your coat according to your size and find contingent ways to save, then you can find the best options to invest that money. It's possible for anyone.
@B That idea doesn't quite sit well with me, letting another person manage your money for you plus did I also add it costs money too!
@B Most of them I know usually act as glorified salesmen. And they all want your money lol. Since yours is a bit different please can you recommend so I can do my research?
Most people live paycheck to paycheck so have nothing to invest. Even if they do invest something comes up and they have to take it out anyway. Most people don't have extra money and those that do waste it on something dumb.
Our society is trying to have people work till the day they die!
That's how I feel. It should not be like that.
Even past death ! Voice recording for Walmart greeter at Halloween propped at the entrance !
slavery never went away in the USA. we have wage slaves now for that stay check
That’s not our society doing anything, that’s people not preparing themselves properly when they should have been.
Of course! That's how other people make money. They want you to keep spending.
$600-700 per month? Can I retire? Sure, in the Philippines.
😂
Absolutely why people in America can’t understand a simple things
Ecuador
@@vintageport7804 why there ? I am thinking Colombia
in the province yes, in the city it will be tough
There is always the roommate option to help for a while. It could be more than just financial assistance. Home upkeep, cooking, ride share, someone to talk to if you want……
1:37 Dave’s look when she mentioned putting $100k into “alternative lending” 😬
That's where it went bye-bye. Oh, lord.
I was watching this video and then my neighbor came over and we watched it together...
He said that this video changed his life and touched his heart...
I then went and rented a projector in a big field and my entire town watched it and it changed their lives too...
We all are so grateful...
Thank You for this video...
You're a hero
🤣🤣🤣sure
Lol
This is amazing
@eucharistangel4662 Well maybe he’s exaggerating a little and not the whole town came out but only 90% of them. Hopefully there wasn’t a string of home invasions with all those people out of the house watching this video on a giant projector.
Given retirement stats, most of Dave's calls should be just like this one.
I agree and not just all the multi millionaire calls
Great response, to encourage a disabled person to see if they can find something that they can do, even just a few hours per week to earn some extra income.
We need more support and facilitation to help disabled people in this way.
I know a quadriplegic woman who has chosen to work in a job helping other disabled people. She is intelligent and speaks very well. She is wheelchair bound and requires carer support. But she blows me away that she got this job. She enjoys it too.
Absolutely
I would be more worried about medical costs in her situation which didn't enter into the conversation at all - I doubt that it is included within her very limited budget and she did say that she has problems.
Valid point.
She has medicare.
@@Fishouta Medicare helps, but it does not cover all costs. Also, I believe there is the "donut hole" wherein the person is responsible for medications from the $2k to $10k per year range. Please do not quote me on those amounts. But, I hear you on her having medicare to some extent. Not as much as you might think. I recall reading wherein the average retiree will have roughly $200k in medical costs which are not covered by medicare.
Her income is below the poverty line, so she probably qualifies for free or significantly reduced cost of care.
She doesn't have enough saved to be secure.
You cannot live in the City of Ashville for $700 a month, period. It's the most expensive City in NC
She could if she lives in the park in downtown asheville
@@ASouthernBoyCanSurvive The park benches are horizontal too !
She lives in a van down by the river.
For people on fixed income - the best way to fit into budget is to move to an area where renting is cheap. Renting for $600 and having $1000 to live is much better than renting for $1000 and having only $600 left for everything else.
Asheville is a pricey place to live.
@@cindybrannen6597 - Yes, I'm in Hendersonville and I was shocked she said, "$600 a month." This may be because she's living in a relative's home or owns her home.
Okay never mind, she said $1000 a month.
No there are plenty of places for people on fixed income just have to get off their ass and look around, for people on fixed income - the best way to fit into budget is to continue living your life and being grateful for what you have... Because a lot of these people in the comments aren't even happy, and have no life because they're putting all there money away to be a millionaire at age 70 😂
If I could impart any advice to young people, it would be to live frugally and start saving and investing early. I never had a high salary or worked for a company that offered a 401(k) or pension. I established IRA and non-IRA brokerage accounts in my mid-20s. I always worked full-time-plus, lived frugally, and saved and invested aggressively and consistently. I retired 3 years ago at 63. At 66, I have zero debt and a net worth of $13.5 million, mostly in stocks and mortgage-free residential and commercial rental properties. It can be done, but one must start early and make sacrifices.
We had enough ! Now retired years early by moving to South America ! No way anyone should have have work so long unless they want to.
So, 1600 a month. This can be done. Move to a very cheap area and find someone to split the rent with. No car. Can’t use one anyway, from what I heard. Buy clothes at Salvation Army or such. There are safety nets for folks with this low of income. This is the kind of thinking you have to get into.
Or you can move to another country and have a better life. Thats middle class money in other safe countries.
The additions are all great in their own way… but we need more Dave.
Ouch, $600-700 for everything except rent is pretty brutal, possibly doable, but it would be really hard if a large emergency came up like medical or if her rent starts to outpace her SS income. I think she needs to find some part time work that she can handle as well as find somewhere cheaper than $1000/m for rent, 2/3rds of total income on rent is way too much.
She said she can't sit up very much because of a neurological disorder. Maybe she can answer phones from home, or do virtual tutoring?
@@suen5006 Yeah but she doesn't want to work at least that what I get out of it.
She needs to leave Asheville.
@@semosancus5506 You want her out that bad huh.
And rent's not going to go down...
1,000 a month in rent on a fixed retirement income is insane.
That may be the cheapest she can find in her area. A 1 bedroom in our area is at least 1600 and there are hardly any studios. Even a room in a house is 800 to 1000.
Asheville, NC is very expensive.
@@suen5006 And her rent may go up too
Some seniors are now renting to a college student
Property taxes in the city where I live are outrageous!
When you're retired and have no debt. It is amazing how your money keeps growing. The last 10 years I must have spent at least A hundred and fifty thosand. Bought two vehicles, expedition and lincoln paid cash, bought another lot and added on a another two-car garage. I lived below my means for years and worked to pay off two homes. Sold one. I still have the same amount of money when I first retired.
I don’t know where she lives in the USA but here in Canada rents start about $1700./month and upwards. One bedroom is around 2000.00.
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 determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.
This is true. I’m in my mid 50’s now. My wife and I were following this trajectory last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits but at least I earn more and my retirement fund has grown way more than it would have just with the 401k
Bravo! How does one locate such an astounding financial planner? I’m semi retired and would undoubtedly want first class management on a much larger portfolio. I don’t want to take chances, could you please refer me to yours?
@@HillaryMaxwell5 Yes. His and your new financial planner is: Dick Guzinya.
The most important single thing you can do for financial independence is to OWN your own home. Buy young, pay off early put money into retirement fund.
With owning instead of renting you will end up with less money in your retirement account. Reason being is because renting an apartment and owning a house free and clear cost about the same per month. However most people have to make mortgage payments for decades and thats money every month that could instead be going in to a retirement account.
@@davidleonard4925 disagree strongly. My house is paid. Has been for 15+ years. Tax on it is about $11K plus upkeep with averages around $5k a year. With rent for a half way decent apartment in my area $2k+ a month, I am not understanding your logic. Also, house is worth ~$800k. I’ll stick with home ownership.
@@BSinNH Each person would need to run the numbers for the area they want to live. In my area the numbers are very close to the same with owning a house or renting an apartment.
@@davidleonard4925 You’re paying tax on your income that is used to pay rent.
Owning a home allows you to live on less, plus a home purchased on a loan also has inflation on its side.
@@AussieZeKieL Well right now we have high inflation but proper values are dropping due to mortgage rates being more then double what they were a year ago. So there are less buyers that can afford property.
Dave has no idea what's involved in selling on eBay. That's not an option for her.
right, no one but ebay and paypal making money there
Right. Fees getting worse all the time and it is a physical job boxing and everything.
@@benkelley6561 She can't be vertical ! Horizontal only.
@ag4allgood Some people make a living horizontally.
Awesome! love your perspective.
I currently make 106k/yr. No home or iπvestment and the job is in NY as I work from home. I need to do something quick or else I’m going to be paying thousands to the IRS come tax season. What can I do?
Opportunities comes infrequently, Invest now to achieve financial Independence. I engage on different sectors with the help of a Financial Advisor and now success feels easier than I thought.
@@sheliaswelttk2535 Thanks for this piece of advice. if you don't mind how can I get in touch with your Financial Advisor? really need help with my finances.
@@williamskohler8337 I work with (Tracy Helene Aalvik) a well known advisor. You can look her up in the internet with her name mentioned and get in touch with her.
@@sheliaswelttk2535 Tracy is the best in this space, I'm happy to come across these recommendations. I have worked with her and I am impressed with the thoroughness and professionalism of the investment diligence packages she provides
@@tomjason2495 To better understand the potential factors that contribute to your finance as a beginner. It's best to seek the help of a Fin. Advisor. They have wealth of information on current conditions and future trends.
Americans estimate they’ll need more than $1 million to retire comfortably, but most aren’t bullish about meeting that goal. I’ve been sitting on over $745K equity from a home sale and I want to invest on the stock market, how do I achieve this?
American workers are losing ground on retirement readiness and increasing the risk of outliving their assets, we all need to do more to help improve the savings and retirement security. If you're not who understands strategies to invest in the market, seek a Financial advisor to guide you.
Having an investment adviser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly and I made over $420K within few months
Wow , u want a purple heart
Depends on how old you are. If you are younger (
@@robnunurbiznezz7618 🤣🤣🤣
I'm afraid I'm going to have to nitpick here. It's all about your debt load in retirement and how much you've paid into social security during your working years for the average person. There's way too many RUclips videos based on living off interest and dividends and consequently come up with crazy high numbers for the financial resources you need to be able to retire. I know it's not always possible, but the most important goal prior to retirement should be to retire debt-free.
She does not need a smart vestor pro.
How else will Dave make money off of her??
@@lepoj Bingo.
She needs a J O B.
@@lepoj and him making money is bad? do you work for a living
@@RL-ww5ev you obviously missed the point. This person doesn't need a smart vestor pro but Dave is pushing them anyway.
Thx Dave… solid advice that can’t help but make people better off through their own efforts
Thanks for the great content Dave and George!! God bless that lady!!!
Sounds like she needs a roommate to cover half the bills. That would free up alot.
Watching this in 2024 after the hurricane hit Asheville. I hope this woman still has a home.
Young and broke is a 1,000 easier than being old and broke folks.
Remember these wise words folks! Save early and often. Avoid debt! Live within your means. 😊
I love how she thinks marriage is still an option, like it's her choice LOL
Actually living BELOW your means to avoid "lifestyle creep" is better... I managed for years on just $1200-1600 on disability... but when my pensions FINALLY kicked in I chose to keep the $1600 a month lifestyle and invest the extra $425..Two years later I have an investments portfolio in the low 11K figures and still hung onto the EF of 10K. The goal is to put away 3 years of living income/benefits.. and at the pace I am going it will take a few years.. but I see an extra $100 a month if I need it from both funds
@@BingBong3.13
So true! 🤣
@@kevinrehberg8758
Wow! Incredible! That’s outstanding savings work.
Well done sir! ✅
I'll never understand why older people, say over 60, would ever sell their house. I'm 62 and though I'm not crazy about the city in which I live, the house I have is in a great neighborhood to be able to eventually rent out. Rental income, SS, and a part time job, living either overseas in a less expensive country, or even here in the USA in a less expensive area, all contribute to more security in older age. It's also amazing how much my expenses have gone down with age. I traveled the world when young, so don't have a need to do that. NO new fashion at all. Eat at home. Simple pleasures really become enough. She doesn't need to be paying 1K in rent. I would never do that. Move somewhere less expensive.
when the renters do 30k in damage to your house you may rethink being a landlord. also if they know you are out of the country they suddenly think they no longer need to keep paying rent, ask me how i know.
@@makeitpay8241 I've been a landlord for over 20 years. I pay for a property management company. It's worth every penny. Have not had those types of problems. By the tone of your message, I'm guessing you're a male. I'm not interested in how you know. Not being cheap upfront saves lots of headaches.
@@TS-rd7oy in my home state the tenant has all of the rights and the property owner gets to jump through hoops for many weeks until you can finally get the person out. i'm all set with that foolishness. if i no longer need my current home i will sell it in a new york minute and move on. however if it is working for you then that's great.
I sold my house at 56. It was a large older house turning into a money pit, made worse by unscroupulous contractors who did not do improvements/fixes as they should have. I put more money into that house some years than the rent I pay now. (I got a great deal renting at 600 per month) Later will probably buy a condo. Home ownership is not all that it's cracked up to be and not for all people at certain stages of their life. Now I can just lock the door of my small crashpad and travel the world. Minimalism is freedom. I could not have done that with a big house. No financial 'suprises' so I know how much I can invest every month. Also, I have been a landlord. It can be risky and a real headache.
Her house wasn't paid off. Sounds like her mortgage was way more than 1k a month so she sold and took the profits. Social security pays her rent. The goal is to pay a house off then she could keep that 1k a month. I'm a realtor and it amazes me how people 50+ buy thier first home. They will have to work until 80 to pay it off. Pay your house off then look at renting it a buy another. When you can't work. Live in the paid off house and rent the new house
If you have to ask someone if you have enough to retire, you are not ready.
Seemed like Dave zoned out a little a couple times on this one. 😂
I don’t blame him. Painful
Dave zones out most of the time.
I can’t imagine spending 30 years listening to the same basic questions……
I agree. Why does he continue doing it ?!!
$$$$$$??????🤔🤔🤔
The thing is, there are two sides to the equation. Income vs. Expenses. We chose to address the Expenses side of the equation by moving abroad rather than trying to retire in the States. It works.
If she lives 10 more years, she doesn't have enough. She needs a part time job.
Longevity is a blessing for those who can afford it financially. Otherwise, it's almost a curse.
@@texan903 She can't even follow her own Budget. If she makes no changes she will be living on the street pan handling.
@@ag4allgood she needs to go through Financial Peace University. Not overspending her budget will require focused, intentional effort to get on track.
anything you can do on a computer, you can do laying down. Reclining workstation was the best thing I've ever done, I work laying down more often than not.
It all depends on how long she lives. Princess Diana was set for life and died at 36🧐
killed
@@summerforever6736 Same deal🤯
@@summerforever6736 same payout
Set for life & died like a Princess ! Forever young.
I would never get a room mate or recommend anyone to do to. That can cost you a lot…..
I totally agree.
It's a year ago that this lady called in. I wonder how she's making out now. Did she find a part-time job, etc. We need an update.
That’s a great idea… dave Ramsey callers…where are they now?
She needs to find a roommate.
Yes
That would be giving up the sense of independence.
Why nobody talking about investments in alternate lending… that’s risky for her age
"And I don't wanna get married"... That would of been a cash flowing investment right there.
Unless he has less than she does.
Would have been
My core values are freedom and independence as well, that's why at 62 I won't be getting partnered up either.
@@RayGreen94510 my expenses are way less too now that I don’t have a husband buying a different car every two years
@@naca1553 The wife going to the mall everyday on a $150 shopping spree for more shoes or more clothes has been a real boost to my monthly income now were divorced.
Unfortunately this is the situation that our older Americans are facing. She needs to find cheaper rent, find a roommate and get a part-time position. God Bless!
Beans & rice , rice & beans don't ever light a match !
@@ag4allgood Dave always leaves that out, good catch Alan!
So is she expected to work until she dies?
She has to want to live this kind of lifestyle first.
She is 20 years too late.
Shoulda kept the house and paid it off instead of renting
It's worse than that... She sold her business for $200k and yet her net worth is well under $200k... even after selling her house! She MUST have used her house as collateral for business loans and the bank forced the sale.
What has she been doing all this time? That’s not enough to retire. I’m 34 and actively working on my investments and still terrified.
Captain obvious says she wasn’t thinking about retirement much. Not only that, people were not thinking about retirement or investing back in her day when she was 34. You have a leg up on a lot of people. Relax your doing fine 😊
Wonder that too
Some people had poor health all along
Her core values are freedom and independence. I think her Freedom ate her independence.
AC you are pretty
High inflation at the grocery stores and insurance is preventing me putting in as much as I want to for retirement and savings and it’s annoying the heck out of me. Inflation absolutely has to be brought under control in double quick time. Luckily for me I have time but people in their 60s are in trouble.
what can I do? I have been disabled since 2009 and I am 58 years old at the verge of retirement. My portfolio of $750k is down to $492k, How can I profit from the present market" , I mean I've heard of people making up to $250k in couple weeks during this crash and I'd like to know how.
The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
I agree, before the pandemic got real serious, I used to handle all my investment and I was pretty good at it, fast forward to post-pandemic and my-portfolio is steady in the red with profit rate down to the lowest, that's when I touched-base with a coach I saw featured on business week, who restructured my portfolio and over the last couple years, I've made over $850k from initially $210K
@@MarkFreeman-xi3rk Please can you leave the info of your investment advisor here? I’m in dire need for one.
My advisor is Margaret Johnson Arntd You can easily look her up, she has years of financial market experience.
thanks for sharing, After locating her, I composed an email and arranged a phone conversation. I'm optimistic that she will reply.
I see a lot of bots in the comments trying to convince people if they only contact this certain person, they'll make you a lot of money. Big giveaway is people who have no RUclips content.
Rent prices are just going up. Unless it family that owns her rental I would worry about inflation and rent prices
Tell me the $1000 work from home job!!!
I'm 42, all debt paid off but mortgage (250k 2.7% interest house worth 500k) own a 120k rental property no loan on it, 150k in retirement accounts, investing 2800 a month into retirement accounts and paying 1k extra a month to mortgage, have 6 month rainy day fund. I'm worried I won't have enough but if I stick to the plan I can.
I’m 55 from southeastern Ohio but worked overseas all my life. I have savings of $1,000,000 and I'm ready for retirement, only concerned about the soaring inflation. Is this enough to retire comfortably, or do I need some sort of money management
Glad to hear from another buckeye! comfortable retirement depends on your lifestyle...
I would get money management just in case. You’re only 55. I think the average life expectancy in the US is 77.5 years, but many people live well into their 80s so that $1 million has to last you all of that and the unforeseen. $1m is a great start though. Good for you!
I’m quite lucky exposed to personal finance at early age, started job 19, purchased first home 28. Going forward, got laid-off at 36 just after covid-outbreak, and at once hired an advisor with grit to help stay afloat. As of today, my portfolio has yielded over 300%, summing up $836k. Stay motivated friends
this is huge! your advsor must be grade A, mind sharing more info pleas? in dire need of proper asset allocation
I'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with "Kristin Amber Landis" for years and highly recommend her. Look her up to see if she meets your criteria.
I would love to hear what Dave thinks of JEPI and JEPQ. I am retirement age and put some of my money in these two funds. I get monthly dividends and it helps!
He thinks its horrible idea.
rent is going to increase faster than social security, everyone has to work some, and everyone is looking for help right now, so pick you out a gravy job, you have to have a reason to get off the couch
She's disable my dude
So the income need is $7200 per year. Would be very easy to take the 200,000 and invest it in a basket of stocks that provide a dividend yield of 4 percent for income of $8000 per year. Then take the $800 per year that you have left and buy more shares. Or take a look at CDs that may give you 5 percent.
Me, at 91, I'm afraid to sell something, taxable event you know. I'm financially paranoid, not a good place.
Me, too, to a degree. I hate spending money. I need to ease up a little.
@@JeffreyJohnson-ip4fy You and me too.
I can see that you are concerned about your retirement planning. It's important to note that the minimum amount you should aim to save for retirement is 10 to 12 times your final annual salary or income before taxes, excluding social security benefits. Additionally, if you are a couple aged 65 years old, you may need roughly $315,000 for out-of-pocket medical expenses during retirement. Ultimately, the decision on how much to save is up to you, as everyone's financial situation is unique.
I really think she should get something part time to supplement her income. They brought greeters back to Walmart. She could do that 1-2 days a week and add an extra $800-$1000 a month to her budget
She said she can't stand up for long periods
@@caracal9458 I’ve seen Walmart greeters sitting on those roller walkers before. It was more of showing there are things she can do to get her income up that don’t require a full time work schedule
She said she cannot be upright for long periods. That includes sitting. She can do work from home reclined tho....
@@jonathangoldfuss15 actually, she didn’t say she could not stand up for long periods, she said she could not be upright for long periods.
Bless your hearts for this site and the postings!!! We are fortunate that an excellent job with great benefits left us with $100,000 per month pension income. SS brings us another $40k per yr. That same great job left us a profit sharing paycheck after 40 yrs of 2,3 million dollars. We have been invested in stock market over 40 yrs. We are truly retired as in no one is actively working. At 70 and 73 we enjoy travel, stage plays and dog shows. Not big spenders. I buy what pleases me with my same critical eye. Buy assets not liabilities.
That's one question I never had to ask about. Debt free since I was 36. My house is fully paid for. I don't do any substance abused. Able to work and been hustling for bucks since I was 13. I'm 60, I'm working as a caregiver now. Was in construction most of my life as an masonry. Older I get, the easier my jobs will get. Planning to take it easy at age 67. But will continue to hustle for bucks until death. So I'll have income coming in all the time. I have a strict budget and always stuck with it. That's how I'm able to save tons of money. So I always had a nice emergency fund. My bills are super low as I try to be mostly self-efficacy.
Need a paid off home for retirement....
I agree as it helps a lot. Living in So. Cal. it's very hard to pay rent on SS. It also helps to know how to do maintenance. The big variable are taxes. But it doesn't always work as some have too big a home with large maintenance costs and taxes.
Best thing to do is downsize your living quarters. Utilities cost less, maintence is less, insurance is less, taxes are less, etc!!!
She couldn't afford that either
standard Ramsey advice... buy a house with 20% down and 25% of take home on a 15 year mortgage. done.
her rent problem is solved.
she can live out her years.
I mean, that's about 36k for her house.... so a trailer then.
but in reality she has 200k and 1000 per month SS that doesn't care where she lives.
you can liquidate half and buy 100k house somewhere and live fine... I think. at least you would freeze that house and have 12k a year plus investment interest.
i say never rent
@@freebird7284 at her age, she needs to rent! Why would y’all want an elderly lady working about repairs and maintaining a house?
If I were in that predicament, I would have to be fitted for a straitjacket!
what is a straight jacket? it's not bend, but it is straight?
I can relate to that feeling.
@@markwhittaker6866 straight feeling or bent jacket?
She needs more income period from somewhere.
$60.00 in the bank, $500.00 in cash in the pocket, 73 yo and living on the aged pension in Australia. Life is good.
Watching this and knowing she is in ashville makes me sad . Hopefully she is doing ok
I feel for this caller. It’s hard getting/being old. When you’re young, you have the support of your family, teachers, and coaches - everybody, really. All of these people die at some point leaving just you to figure it out. The wind is at your back pushing you forward. No matter what you do, you just go forward. You’re a kid, so it’s ok to not know what you’re doing and to look stupid. As you age, things get harder and it’s as if your brain and body conspire against you. Things change; the way things were when we were kids has been replaced with new ways of doing things that often don’t make sense to a middle aged adult.
I sympathize to an extent but at some point you have to GROW UP and be an adult. How is it that so many people figure this stuff out and yet you are ready to play the victim?
My heart hurts for this woman. She sounds like she feels so discouraged.
You can live in some retirement places, for that amount and it includes food
Our experience is retirement homes are much more expensive 😔
Not in Asheville NC!
In addition to getting a PT WFH job, what if the caller took her assets and moved them into a higher dividend-yielding ETF such as JEPI or JEPQ that will pay her on a monthly of around 8-10% annually. At $200K, that would give her a little bit more cushion each month.
Does Ramsey reply to comments???? He says NEVER get an extended car warranty, but what does Dave Ramsey say about like my house, I own my home out right, should I pay 3000.00 a year for home owners insurance on my home that is only valued at 250K, what about car insurance, My truck is paid off, I own it, should I drop FULL coverage or just do LIABILITY???????????????
I hope Betsy is doing fine 2 years later (in 2025). All the best to her and to us all ✨😊✨.
Lower the rental cost. Roommates or studio apt? Van life idk. But it's scary
If I’m her, I’m working from home. Find a job you can do at home. Call center position, something like that. Worth it to have a little more comfort.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Donnafrank-k6e However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
@@patrickhenandez Oh please I’d love that. Thanks!.
@@Donnafrank-k6e Clementina Abate Russo is her name.
Lookup with her name on the webpage.
I hope she is doing alright with the hurricane and all.
With $1700 in a small town in Mexico she will be able to live a good life, not as high class level but middle class, and that's rent included.
She needs to put the $200k all in schd and it will pay her about $600-$700 per month pretty consistent however still offer a little growth long term. Plus no federal taxes on the money.
She wont do it. Blew $2K in a month. Hokidays and other things become an excuse. If you live cheap, others may call you names too 😂
I couldn't imagine living that frugal after working my whole life to retire.
There lies your problem….
@@Ballerism won't be me, not my problem.
I'm new here... how do we seek out the smart vestor pros?