Thank you. Just what I needed to watch. My hubby and I are directors of our farm business and own property, plus small pensions. I am nearly 52, hubby is 55. We have started to save to retire from the farm, and possibly live on rental income, I'd really appreciate you go LIVE and talk about how to earn passive income online and retire comfortably, let’s say $1M.
It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into financial advisors for a strategy that suits your timing.
I totally agree, I'm 60 and newly retired with about 1.2 million outside retirement funds, no debt, and very small dollars in retirement funds compared to my portfolio balance over the past 3 years till date. tbh, the role of the invt-advisor can only be overlooked, not denied. just have to do your research in finding a reputable one.
I personally work with 'Julie Anne Hoover’’ she covers things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk. many things like that. Just take a look at her full name on the internet. She is well known so it shouldn't be hard to find her.
I'm 58. I retired two weeks ago from a 32 year factory job. It just got so toxic at work that I couldn't do it anymore. So far I'm disoriented, but things are great. =)
I second that "I can relate." I retired 3 years ago at 58 after 25 years with one employer. Management toxicity the reason. As long as you thought through it and made sure your ok financially, you should be fine. If you didn't, take the time now to do so. You will be fine as long as you have a plan, even if that plan is to travel the world.
@@dpayneless1962 Yup! Management was an issue at my job too. I was able to travel when I was younger. I don’t really have a plan. Hopefully, God has one for me.😀
Management is the determining factor why people retire or quit their jobs. People dont quite jobs, they quite management. I can relate. Toxicity at work is my reason to retire this year.
I just retired at 53 from my job. If Inhad stayed longer, yes I would make more money but my equation was time equal money. There is no amount of money that will pay for time. I will tell you its a weird feeling. Some people told me it will take several months to get use to it. My opinion, if you can retire early do it. My health is priceless.
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determines a lot of things, my parents both spent same number of years in the medical profession, my mom was investing through a financial advisor while my dad through the 401k. On retirement, my mom retired with about $5million, while my dad retired with roughly $3.8million.
You are right. I’m in my mid 50’s now, my wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with profits over the years, but at least I’m earning more. I’m making money even before retiring and my retirement funds has grown way more than it would have been with the 401k.
It’s unfortunate most people don’t have such information, I don’t really blame people who panic cos lack of information can be a big hurdle. I’ve been making more than $25k passively by just investing through a financial advisor, and I don’t have to do much work. It doesn’t matter if the economy is crashing, great CFA will always make good returns.
Renowned for his proficiency and expertise in the financial market, 'John Desmond Heppolette' my financial advisor, holds a broad understanding of portfolio diversification and is recognized as an authority in this domain. Just research the name online, you’d find necessary details to with a correspondence to set up an appointment..
@@Alejandro.NThank so much for sharing. Your advisor was simple to discover online. I did my research on him before I scheduled our phone call. He appears knowledgeable and well accredited based on his online resume.
John Desmond Heppolette. Has transformed my life, he is amazing, and ever since I met him, my life has taken a positive turn because of the passive income through his knowledge. He’s ideas is essential for succeeding against all odds in this area of online commerce. I’m free from debts and am able to save up more for retirement.
Sincerely, I'm genuinely moved by what you said about early retirement. And yes i equally agreed with you It's the FREEDOM from being able to make a conscious choice, each and every day, in terms of how you’re going to spend your time… I have about 40k that I am willing to invest if given the appropriate knowledge and I am highly interested in investing. My greatest concern is losing money on a bad investment. I'm open to hearing your advice on how to make sensible investments as a result.
My belief is that making a wise investment is a fantastic way to save money for the future as well as a way to generate passive income. Those who make poor mistakes early in life regret them later in life. But, if done alone, investing may be challenging and risky. For this reason, I suggest consulting experts for advice (FA). The difficulty lies in effectively employing it, not just watching videos and reading investing books.
I try to see a financial coach before making any investment decisions because of this. I've been using one since the pandemic outbreak because their entire business strategy is based on trading long and short at the same time, employing profit-driven strategies and reducing risk as a safeguard against unavoidable downtrends. Furthermore, because they have access to insider information and analysis, it is practically impossible for them to perform poorly.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success.
There are a lot of independent advisors you might look into. But i work with Eleanor Annette Eckhaus, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly..
I was so sick for almost 20 years. Don’t know how I continue to work but I did and I retired when Covid hit and my health started to improve immediately. It is three years later, and I feel better than I have in 23 years each and every day.
@@sct4040 the building made me sick. It had mold in the ventilation system, and I have a hypersensitivity to it, and never realized how much damage it did to my body.
@@brianasamuels you are LUCKY that you did not have your mental capacity impacted, a friend of mine has lost mental capacity due to mold... when he called me last week from an assisted living facility, he said, "today is a good day" - meaning he seemed normal. He said some days are worse. Everyday is a gift.
I cant tell you how much blow back I have gotten from friends when I tell them I am retiring at end of the year at 61. They give me all kinds of reasons why I should not retire. I have the money and still healthy. I want to make the most of the time I have. Not wait till I get sick and have to retire. 45 years of skilled trades has been tough. Its brutal work after the age 55. I have always walked my own path, a born contrarian. I'm retiring no matter what these other people say.
More power to you and to what youre about to do. If you do it responsibly, theres no way you can loose since youve been disciplined for more than half your life.
I cut out at 55, no debts and no money. Moved over seas and absolutely enjoyed my life .. 67 started SS. Now at 71 I have about 220K in the market and a paid for house in the US.. Don't regret a thing. Everyone is different. For me being single male and poor the US was not an option. Now at 71 I cannot tell you how thankful I cut out early.
I just retired this June at 60 years old! Spending time with my children and grandchildren! These are my go-go years and I decided I would rather enjoy the health I have today instead of spending it (and wasting it) working for my employer. I also moved out of a high property tax, high crime city into a peaceful small town! Love it!
I retired last year at 58. Your story is pretty similar to mine in that I moved out of the high tax high crime big city and am currently looking for a house in a small town or the country. In my case it helps that I am fine with living a simple and affordable lifestyle.
I have two pensions. I would much rather have had a Roth 401k throughout my working lifetime. $500/month invested from 25 - 65 at 9% is $2.3mil. I hate my job but can't leave because of I won't get my state pension. What do you think about doing a 70/30 stocks bond ratio?
I would avoid the index funds, mutual funds, or specific stocks for the time being. 5% fixed incomes are the safest bet for now. Save your cash for when the market actually shows signs of recovery
Accurate asset allocation is crucial right now, and some individuals use hedging strategies or allocate part of their portfolio to defensive assets for market downturns. financial advisory is vital for achieving this. This approach has helped me stay financially secure for over nine years, yielding nearly $1m ROI
I don't comfortably throw recommendations around, but I've been working with “Natalie Carol Nielson”. God, she's brilliant! You should do your due diligence online cos I'm sure there are others who are good, Just that it gets overwhelming finding who's suitable
Planning on retirement at age 55 30 years with my amazing company Started from zero with a High school education Commission based job Will have 3 million in our company profit sharing program Wife was a teacher have health benefits covered Just praying every day for good health to enjoy all of our hard work and sacrifices
This is one of your best videos. As for myself, my original goal was to retire from working as an engineer with a degree at age 55, but my employer forced me out at age 43. Got another job at a local city in Southern California with a new goal of retiring at age 57, but the stock market had a major correction (dropping more than 30 percent). Afterward, I adjusted my retirement again to be at age 63. This weekend, I am filling out my retirement paper work (smile...smile).
It seems to me people talk about how much money they should withdraw and part of that calculation is insuring they don't run out of money. I haven't heard people talking about not touching the principle and living off the dividends! This would ensure that you don't run out of money and you can leave it for future generations!! We are so fortunate to have been able to stop trading our time for money when I was 49 and my wife was 46 and we don't worry about running out of money because we don't plan on touching the principle! Thank you so much for everything you do and spreading the word about financial freedom! We try to spread the word too, I hope more people start to get it!! We started on our journey in 1993, and it's refreshing to find people like you who were thinking about this stuff at a young age, doing so has paid off infinitely for us, we are so fortunate and grateful!! Thank you again!
I’m in the esteemed group of “laid off at 53 and can’t find a job”. At 1.3M saved. I’m starting to think Costco for benefits and pocket money is looking better and better.
Through hard work and frugality I was able to retire at 52 ten years ago after working as a leo 25 yrs. and a vet. I broke traditional rules such as paying off my home with part of 401k, paid taxes on it, aggressively investing in non tratditional assets. Don't regret any of it, I love my life. Thanks Dave Ramsey, Clark Howard, and Robert Kyosaki. In addition to many books, podcasts, etc on financial literacy. I live debt free.
My wife’s mother just passed at age 95. She spent the past 15 years in a memory care/assisted living facility. The monthly cost ranged from $10,000 to $13,000 per MONTH. If she didn’t have a great long term health care policy, she would have gone bankrupt and probably the family as well. So, all these dreamy early retirement scenarios and betting on how much money you need in the future is nothing but wild speculation. Nobody can predict the future. Nobody.
My good friend is a disability project manager. She says the stats are that you will need long-term care more than life insurance, but everyone talks only about life insurance. She says statistically, more people will become disabled and need either a higher % in long-term disability in their 50’s/60’s than dying, and she highly recommends you increase your long-term disability % in your company benefits, plus get a solid long-term care policy because this is what makes people go broke.
@@hollywhiteside2582 when you’re in long term care you don’t need nothing but long term care, you don’t need an accumulated wealth, you can’t use it. Smh…
@@_DB.COOPER Medicaid will IF you have spent all the money down to about $2000. And if you can find a Medicaid room...not all facilities have available rooms or even accept Medicaid as payment. Medicare will pay costs right after a hospitalization up to 20 days of skilled nursing home care. Medicare will then pay partially from 21 to 100 days. Nothing after that unless there is a separate hospitalization after a specified period of time. Long term care insurance generally doesn't pay for years and years. A relative had a policy that paid well, but only paid for 18 months.
@@philip7654 I made a lot more than that. I liked my job too. I saw my mom die at 59. Wasn’t going to happen to me. Now I have 6+ years in retirement. I’m good. Tomorrow is NOT guaranteed
Most people couldn't. Just simple dollars and cents. It's nice that you made so much money, and I bet that you were able to invest a good chunk of change, too. Most Americans aren't in that situation.
@@edennis8578 I did ok but not big money that’s for sure. Biggest part of that is living beneath my income level all my life. So many people spend everything they make. That is a big no no. Don’t try and keep up with the Jones’.
We’re retiring (hubby and I), in 377 days. I’ll be 60 he’ll be 62. We’re moving to Scotland, UK, where I’m originally from. We are done working we aren’t rich but debt free and ready to go! Woohoo we’re so excited to be starting this new adventure in life.
Congrats Sharon. The countdown is on! Before you know it, there will be less than 100 days to go. Good job paying down your debts. That helped alot in giving you both the freedom to retire. Thanks for watching and for taking the time to comment ... 😎 Azul
I like the idea of the bucket strategy. Divided by expense needs. Maybe 5 years worth in bucket 1 (safe, interest bearing accts.) The balance in bucket 2 (invested conservatively- you will live off the annual gains from this- in down years, draw from bucket 1, in boom years refill or expand bucket 1)
I’m giving my notice 12/29. Unfortunately, a lot of close friends didn’t prepare much and it’s hard to share my excitement. I understand bc so many are stressed in their jobs but can’t leave. 😢 I tried, for years, to get them to invest.
It's like the little red hen story...saving quietly and taking care by being responsible..great job :) and you may have to find new friends if they're jealous
After considering it for too long and after listening to your podcasts the last few months I've finally decided it is my go time - 77 days and counting (age 58)
Thank you always for your videos. They are very interesting. I am a man in his late 50s living in Tokyo, Japan. I have worked for a long time at large corporations such as Sony. I was dispatched to the UK and lived there for 5.5 years when I was early 30s. I started investing in real estate at the age of 45, and now I have a net cash flow of about 300,000 yen per month. (U$2,000) I could retire if I moved to an area with lower living costs in Japan, although it would mean a quite modest lifestyle. Kindly bear in mind that the average cost of living in Japan is significantly lower compared to that of the United States. In Japan, the age to start receiving pension is 65 (though you can start receiving it from 60 with a reduced amount). I plan to semi-retire in about two more years. In Japan, work is culturally seen as a virtue, and many elderly people work not just for the money, but to stay connected to society and to contribute. Watching your videos, I am planning to semi-retire around the age of 62, not 65. I am a real estate specialist and plan to start my own real estate business, working at my own pace. I think I could live comfortably if I could earn additional 200,000 yen (U$1500) per month (though I realize it may not go as smoothly as I hope, I don't think it's too difficult to earn this amount per month). I am divorced but am considering remarrying and am currently engaged in Japanese-style match-making. The FIRE movement, as it's called, is quite popular in Japan as well, and my younger brother achieved FIRE about 7-8 years ago. However, the number of people who can actually achieve FIRE is very limited. In Japan, many elderly people work until around the age of 70. According to government announcements, the average retirement age for men is 70 (for women it's 66). According to the same report, the average retirement age in the US is 65. In other words, the average Japanese man works five years longer than the average American man. Japan has experienced long-term deflation (30 years), unlike the US. Economic growth has stagnated, and the average salary has hardly risen in the last 30 years (though of course, talented and capable individuals have been earning higher and higher salaries). Everyone in Japan has a public pension system, but the amount is about 80,000 yen (U$600) per month, which is obviously not enough to live on. The average monthly pension received by salarymen is about 160,000 yen(U$1200), but even this amount makes it difficult to live, hence many elderly people work for their future. Japan operates a universal health care system, which mandates all residents to have health insurance. The system is predominantly divided into two types: Employee Health Insurance, which is for those employed at medium to large companies. The cost of this insurance is generally split evenly between the employer and the employee. National Health Insurance, aimed at those not covered by Employee Health Insurance, such as self-employed individuals, small company employees, part-time workers, retirees, and the unemployed. The cost is determined based on the individual's income, age, and place of residence. Regardless of the type of insurance, insured individuals are required to pay only 30% of most medical services costs, with the insurance covering the remaining 70%. The system also places a cap on out-of-pocket payments to avoid severe financial burden due to medical expenses. Once the limit is reached, additional costs are fully covered by the insurance. However, Japan is facing significant financial pressure due to the healthcare costs for its aging population. With one of the highest life expectancies in the world, the country's elderly population is growing, leading to increased demand for medical services and long-term care. This trend is causing the government's healthcare expenditures to rise significantly. Solutions to this issue are complex, as they must balance the need to control government spending with the importance of providing care to all citizens, particularly the elderly who are often in greater need of medical services. Despite these challenges, Japan continues to work towards ensuring that its healthcare system remains affordable and accessible for all its residents. Thank you for reading my long comment.
I put 2 years of our living expenses of my husbands IRAs into treasury bonds government funds (cash). The rest is in s&p500 index fund that Fidelity has. We also have an apartment building that brings in a little income. The rest of our income is from DSTs and SS. SS brings in about half and DSTs from sold real estate brings in about half. My IRA is a self directed IRA which is invested in a syndication. I enjoy your channel immensely and I tend to not spend down our assets but I’m going to take a trip to Europe solo (my husband doesn’t like to travel) this spring because of your influence. I grew up very poor and want to always have enough and I’m in charge of our investments. I’m conservative.
I will be 55 in 2 months and I started working abroad at 23 and until now working like jack of all trades and while I’m capable of moving I have no plan to retire.
We made the decision 23 years ago to live off one salary and invest the other. After having three children, it was difficult, but we worked extremely hard and made significant savings. With our teenagers, we have been touring the US for the past two years. We are currently 47 and 48. FI was significant. Although we're not quite ready to retire early, we do have the choice. We have roughly $1.7M.
To the newbies I would say have a mentor. Not sure where you will get an experience one, but if your knowledge of the market is limited, it seems like a good bet.
@@biankabrodeur01 -I agree. I got into the market early in 2019 and the downtrends discouraged me, so I sold off. I got back in 2020 this time with guidance from an investment adviser who was recommended by a friend of my wife. I have made over $230k in my first year working with her...
@@geraldantonio3160 There are many freelance advisors you could check out. I have been working with “Stacie Kristal Weber’’ for four years now and she's really good. If she meets your discretion, then you could go ahead with her. I endorse her...
I’m 64. I retired May 9 from being a full-time Assistant Professor of 18 years. I’m collecting SS and have a state pension of around $1000/month. We’ll fill in the gap with side hustles. It’s time for a change. There are things to do before time runs out. Isn’t 4 % just touching the interest? My fiduciary says that we should be able to keep the principle safe.
UK here! Retired nearly 4 years ago at 60. Got a small forces pension combined with a company pension, getting just over £15K a year.... Far from rich, but all debts and mortgage paid off, which is a massive plus! I don't need a lot of money, just enjoying my time now, I hated my job!
I retired at 54 and never regretted it. Going to take SS at age 62. Going to live and thrive in my go-go years and use my money for fun and sun. I am 61 now.
I retired at 52. Going into my 6th year of retirement. I am not like most people. I never wanted to work. So I focused all my energies on getting out of the rat race as soon as I could. I did it in 12 years, but I could have done it in 10 if I wanted to. However the additional 2 years gave me a bit more options, so now I live quite well and am enjoying my days.
I have 4.5 yrs left and I will be one of these. Being the market has been down I have been buying more at these low prices which is only a bonus and going to help. It's going to be weird to be retired at 55. If you make a plan and live your plan, retirement can happen.
one thing to keep in mind even a conservative dividend on the s&p is 1.5% if your withdrawing 3 percent that dividend accounts for half your withdrawal so your only taking out 1.5% of your principal assuming it didn't accumulate at all you'd still have 60 years of withdrawls
I looked into Passive Income investing. Basically High Dividend Paying ETF's. I set up a few for fun, about $10000 just to try it out. After about 2 years some of the ETF's dropped their principle 40%. Not for me. Some of them dropped so low in value that they stopped paying out dividends.
Retired at 57. It was the perfect time for me. “Sweet Spot” I am drawing 3.5%. But I am still saving cash off that. I may need to reduce to 3%. I keep my cash reserves in a bank paying 5%. I just don’t want to leave any money when I pass.
Could you do videos on pensions and how they impact how much investments one uses in addition to the pension....thanks, great stuff !!!! Many teachers watching you !!!!
What about putting your million+ (or less, and let it compound) retirement money into Dividend ETFs (such as VOO which is basically the S&P 500) and live off of dividends alone without having to reduce your principle at all, or at least reduce the amount you need to bleed out of your retirement funds?
Im 56 and retiring on August 1st. The work environment has become so toxic that its a no brainer for me even if I have to tone down my lifestyle. Since I made that decision Ive really been watching people and you really begin to see how so many people are pretty much never going to be able to retire while they are still healthy. Im so glad my wife and I never had any expensive habits and paid our house off. Im also ASTONISHED by the response by some people as to why am I retiring "What are you going to do with all of that time.?" I think there is a huge amount of people in the US that simply dont know how to spend their time and choose to be at work because they don't know what else to do. Thanks for this channel..its gives you alot to think about
@@clydeebanks2866 Go to an advisor an have them run a Monty Carlo statistic analysis. It will help with your discussion. I'm 56 and pulling the trigger in 5 months.
@@clydeebanks2866 I'm an RN so I can always work 1-2 days a week if I need to....there always a way to make a little cash in todays society. Im a little nervous too but my life experience has been that I always wound up on my feet somehow if something went wrong. My wife and I have hobbies and things we like that dont cost a whole lot. Social security will kick in in another 7-8 years too. In the end I gues it just comes down t your comfort level. Good luck to you and I hope you make a decision thats best for you!
Congratulations! Retiring early when you’re still healthy means you can develop new hobbies and habits that you enjoy. Working too long means you might not have the energy to do that. I just pulled the trigger in June at age 55, and you’re correct that a lot of people are surprised, and even asked if I was “all right”. My response is “I’m fantastic!”
Does the M-W job cover health insurance? If not, mind sharing your plan? I’m 48 and plan to mini-retire at 50…travel a bit for a couple of years, and then do something different. I’ve been in IT for 30 years, which has been a great career, but interested in doing something more fulfilling.
Hi Azul, love your content! I am 59 about to turn 60 in a couple months. My husband is turning 63 next month. I’ve been planning on retiring at 62 but lately am feeling like going sooner. We have $1.4M in 401k and IRAs. I also have a small pension of about 2k/ month and can continue health care with my employer for a reasonable monthly premium. We live in a low cost area and have a paid for home and no debt. I have all the fears/excuses you mention in your videos. I will keep watching until I get up the nerve to just do it. I wish I was not such a pessimist 😂. I keep thinking the economy is going to tank.
Do it! If you have that pension and will be getting social security, then you should have a good amount of consistent income when SS kicks in. The only suggestion is to make sure you have a few years of expenses (beyond what the pension will cover) in cash. That’ll let you sleep much better if the economy does tank for a bit.
I am 45 years old with very little set aside for retirement at this point. I have always been curious about the stock market and have witnessed some people who played the game right and retired early because they used the stock market. When I ask them, most said that they invested very little to start with, but their portfolio grew. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make decent returns
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again
My Financial adviser is ‘’JULIE ANNE HOOVER’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
@@carssimplified2195 Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Hi Azul, I am a subscriber and just retired at 56. Your excellent channel has helped increase my confidence level to decide it was “go time” to take this leap. Not easy to walk away from my career and it comes with some feeling of loss. But I’m excited about the future. Thanks again and keep the great vids coming. -Mike
Love the idea of "Go Time" for those that have been diligent, and early, in saving $$. My Go Time will be turning my side-hustle into my part-time "stay out of my portfolio" job. I don't want to quit working. I want to quit working for the man and start working directly with customers. Four years into building a family business that I can pass onto my kids.
I’m 58. I ask myself this from time to time and I always get the same answers. Do what, and I will probably live to my 90’s like everyone else in my extended family. I am not retiring for at least another 10 years. There are lots of people at work older than me, so I don’t worry about age discrimination.
Retired last week at 53. We own two high end homes in Tampa and a paid in full townhome in Dubai that will be completed in 3 years. Will travel overseas with my wife , 12 and 23 year old children fro a few years and live off of my two rentals about 5500 per month. Have about 800k in equity in the two US homes. Have 60k money saved and 120k in a 401k . We aren’t moving back to USA, I am also an EU citizen! Any advice is welcome !
Pension Insurance companies use 22-23 to divide the available capital to last for lifetime at 65 years old when retireing. A good indicator. The asset allocation is usually 60pct bonds 25 stocks and 15 ”other” ( realestate, private equity etc).
Sequence of event risk is difficult to manage and can have catastrophic effect. An optimal asset allocation has been calculated to 37 pct stocks 63 bonds five years after retirement. Five years prior to ret cut down gradually to 20 pct stocks then increase gradually to 37 pct at five years after. Also combine with a flexible withdrawal rate.
I would retire at 62, I am 59, we have the $$$. I am concerned about health insurance donut hole. This needs to be talked about way more and help us all in this hole.
As a guy in my late 40's, I like the rule of 4 for planning. It's just an easy calculation. But I plan to use a more dynamic withdrawal when actually retired.
Most people I know that worked for the San Francisco government all retired in their early 50’s. The pensions are in the six figure range. I should have taken a government job when I was younger. My goal is to retire at 60 with over 36 years at my company. Hopefully, that will be a reality one day.
4% is a mighty broad brush. Allows you to skip past the hard work of planning. retiring at 57 - 1.6mil (60% Safe- bonds, & cds, 40% S&P 500), No Debt including mortgage. Wife (teacher) working a couple more years (she likes her job). I think the important thing (as everyone would agree) Know your detailed expenses (all the way through end of life) think GO-GO Years, kids out of house, older slow down years etc. Know your Social Security amount! Long term insurance (I'm using my house..i keep my house out of the plan besides for Long term insurance) Use software: 1.) Excel 2.) New Retirement 3.) Right capital. I use all three. I found that the when social security kicked in my withdrawal rate went down quite a bit. So I was at 6.5% pre social security then it drops down to 2-3%. I would hate for someone to not retire because of the 4% rule because of lack of thorough planning (especially if their job is stressing them out). Fun listening to your stuff Azul.
Let's think again about retirement. I often wonder whether the purpose of retirement is to seek a happier life or to escape from an unbearable lifestyle or work routine. It seems to me that I have no reason to retire in either case. In my own life and work, there are certainly moments of stress and headaches that make me want to escape. But somehow, I seem to be able to control these pressures and headaches, turning them into positive influences in my life rather than negative factors. I believe that moderate stress and challenges are beneficial to the mind and body. There is a saying - "The unbearable lightness of being". Perhaps others feel differently, but I find it hard to imagine a life without weight, as light as a feather, without meaning. Can I bear the thought of my existence having no impact, no use, no concern, and no benefit to anyone in the world? Can I enjoy living in such an existence? I may wander alone like a lone ranger, but I still hope to have some connection to this world. I like to have some weight, but not too heavy. To be somewhat wealthy, but not to the point where money loses its value. I enjoy the aspects of my work that I like and manage the aspects that I don't like in moderation. I even try to incorporate more of the things I like into my work. Especially apart from the Lord above, I am my own boss, with a lot of say in the content and quantity of work and the timing of tasks. I enjoy the feeling of making money, even though I haven't really cared about money for about ten years. When I have my own business, I always strive to run it well and gain the approval of customers and partners. The most direct indicator of success is a good business and high income. Enjoying pleasure in work, learning new things, cultivating wisdom, and feeling satisfied - isn't this the purpose of life, whether you retire or not?
I’m 54 and my plan is to go in 60 months, barring a complete financial meltdown. Lucky that I’m a Federal worker, and will have well over 35 years. 🤞🏼 I’ve seen more than enough people wait and wait, then have severe health problems or die right after retiring. I believe in the idiom: “you can’t buy time.”
Yup, worked in workforce development for Thirty Years. Yup, most of them from experience: soon as they retired, they either had a heart attack and died, or stroked out from the stress, of having nothing to do, other than sit on their old arse, and watch television. Yup, contrary to popular belief; *Society is not sending You out to those purported 'Golden Pastures' for Peace and Rest, y'all... Rather; *...They're putting you and others like You, out to slowly Decompensate, ..and Die. Hate to say it, but Life for Most, kinda works out that way from experience. - Peace. \\//
Retirement requires tremendous changes in your identity, lifestyle, and more -- not just your finances. Planning to just play golf and fish? How fast will you be bored with that? Travel? How much travel can you do before you want to relax at home? I enjoy my work and lifestyle. I'll work as long as I can.
It makes sense to me that you would reduce the risk in your retirement fund as you got older. I retired at 55 but I still do some work, I consider me going out and doing some work as one of my assets.
All these people planning for 30 plus years past sixty years old I’ve got one question for you: What are you saving for? Your ventilator? I don’t care if I’m penniless at 90. If I’m lucky or unlucky - depending on my health situation - to be alive at that point I’m certainly not going to care about how much I have in my savings. I’m going to die in the Philippines surrounded by people who will enjoy most of my pension until I’m dead. And when I die my goal is for my bank balance to be zero. No wife no kids, thank God, and no worries.
I’m 54 and my wife 50 we are both newly retired with over $3 million in net worth and no debts. Spending time with our children and grandchildren! Currently living smart and frugal with our money. We also moved out of a high property tax, high crime city into a peaceful small town! No longer putting blames on FED for our misfortunes. Saving and investing lifestyle in the stock market with the assistance of a licensed broker who we met at a financial seminar made it possible for us this early, even till now we earn weekly.
My husband and i just had this conversation this morning. This is exactly how we wish to get our finances coordinated ahead of retirement. Can I get access to your advisor?
@@gatesbev Sure, the advisor that guides us is HEATHER LEE LARIONI, I got to know her through my wife. It's my wife that has her contact, but you could further investigate her credentials and contact her yourself. She's well-grounded and known, shouldn't be a hassle finding her page, just look up her name.
@@aureliobjm Just copied and pasted Heather Lee Larioni on my browser and her page popped up immediately, thank you for saving us hours of researching.
Going out in Sept at 59 years old. I got all the ducks lined up. NOT playing the market, got out over a year ago, 100% of portfolio is in laddered CD's at 4-5% and cash in short term CD's at close to same rate, gonna pull 10% a year plus a small pension to 65 then pull SS a year or so early and drop the pull back to 2.5%. MORE than enough to cover current expenses and insurance until the 65 mark, money should last until 92-95 range with zero worries about what the market is doing.
My biggest question in trying to retire at 62 1/2 is going to be the cost health insurance...I am completely debt free...I guess an option could be part time job with benefits....doing something I want to do...
yes I am taking your suggestions to heart. planning to retire around age 60 which is some 2.5 years. Crossed fingers the market comes back strong. Part time work is certainly in the cards as needed and cash flow from a rental home will keep from pulling too hard on the accounts. Good Advice!
I got out at 46 - best move I ever made, I truly believe the earlier you retire the longer you live. After a couple of years I went back to do some freelance work doing the 2,3,4 strategy - two days a week for three weeks a month and I take four months off - providing an excellent life balance.
I need to wait to get 20 years on my job. This means I need to be there two more years. I can’t wait as my job is super toxic. I wish I could walk away now. 😢
57 years old. Six figure + government pension and large 457b and DROP. I’ve been working and saving since I was 21. 60/40 allocation. I’ll never work again.
13JUL23; just celebrated my 1 year retirement anniversary @44; no savings, no 401K; But, my primary home is paid off; investment property is cash flowing; both properties will cash flow $2.5K, as we're moving to Asia 29AUG23. Lastly, my only saving grace is a government pension of 25 years @ $6.7K/monthly with yearly COLA, plus healthcare coverage. I think it's an okay spot, moving forward. ❤😂🎉
But, the withdrawal rate is not constant for 30 years. It would be higher for the years prior to social security. Then when SS becomes a factor, the withdrawal rate would drop accordingly. Also, probably another drop with Medicare if pre-medicare insurance was higher. Doesn’t that allow for a slightly higher withdrawal rate in the first few years?
Consider the Affordable Care Program. If you’re not a high income earner you can get a Bronze Plan for free. Helps bridge the time period until you’re eligible for Medicare.
Retiring at the end of the year. Age 58. Will be using pensions and social security for guaranteed income that easily cover expenses. Equities will be for discretionary spending. Using Guyton-Klinger withdrawal strategy for that. IMHO, variable withdrawal strategies are superior. I don’t like the 4% rule. It is very vulnerable to sequence of return risk and doesn’t fit how I want my spending to be in retirement. My wife is older and already eligible for SS. We’ve both got pretty high PIAs. Mine is slightly higher; so, she is starting her’s early and I’m delaying until 70. I’ve worked at my company for 36 years and am eligible for retiree medical that is similar to my current employer plan. It is much cheaper than Cobra and better than ACA plans for the same cost. It will get us to Medicare; so, we’ll be good for that. Can’t stress how wonderful my wife and I are feeling being able to retire early. We’ve got so much we want to do and we’ve been fortunate to be able to prepare more than enough funding, and build a great plan with the help of folks like @Azul, academics like Dr Wade Pfau, discussions with groups on forums about retirement, and of course our longtime financial advisor. If you are reading this and think you are close to being ready, talk with an advisor and those you trust and pull the trigger if you can. Don’t wait if you are prepared. Time is definitely more valuable than money at this age and you should definitely use all your time now for what you want, not for what some job dictates just to make some additional cash to add to a number on a balance sheet. 👍
Thanks for putting the warning about checking the impact on Social Security. Having a big old 0 in some of the years has a big effect. Anyone thinking about doing retiring early should go up to the SSA site and look up their account and put some 0 for the years until they get to 62 and their Full Retirement Age and see the impact.
I’m retired at 54 after investing in multi family real estate, Had a plumbing /heating company.. and will never run out of money.. feels great ! Used my VA loan to buy my first duplex..never paid my own mortgage.
just want to say all these 401k and waiting to retire is crazy. Im 49 and found a way to make my own finacial path with returns daily and my assests are not in the market but a very short time. the only reason i watched the video is it says its your time. i say with confidence tjay i average 900 a day 5 days a week om average. its taken me 9 years to figure this out and im l8ving my dream. best of luck to the resy of you.
What about besides having 2 pensions when i retire i will also have a nice amount of precious metals to back up my pension pots which i will have accumulated over the next 15 years the more things i can accumulate now will benefit me when i retire
Withdrawal rate is confusing. I am withdrawing 5% from my traditional IRA to keep taxes down but I'm not spending it. I may need it and don't want to xfer a tax liability to my heirs.
I can retire anytime this year i have a good pension from my company and have enough until i draw my ss pension till 65...but i work from home like a retired person...so i felt no need to retire at this time...do have savings on my investments and building up my prop for rental income....so will wait for few more years to retire...
Thank you. Just what I needed to watch. My hubby and I are directors of our farm business and own property, plus small pensions. I am nearly 52, hubby is 55. We have started to save to retire from the farm, and possibly live on rental income, I'd really appreciate you go LIVE and talk about how to earn passive income online and retire comfortably, let’s say $1M.
consider financial planning.
It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into financial advisors for a strategy that suits your timing.
I totally agree, I'm 60 and newly retired with about 1.2 million outside retirement funds, no debt, and very small dollars in retirement funds compared to my portfolio balance over the past 3 years till date. tbh, the role of the invt-advisor can only be overlooked, not denied. just have to do your research in finding a reputable one.
I personally work with 'Julie Anne Hoover’’ she covers things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk. many things like that. Just take a look at her full name on the internet. She is well known so it shouldn't be hard to find her.
Just turned 60. I retired in February after 40 years at one company. It is AWESOME! No debt, and have saved my entire working career. It’s GO TIME!
yeah but your dic don't work anymore so what's the point?
Congrats!!!
I hope you enjoyed life so far too!
I'm 58. I retired two weeks ago from a 32 year factory job. It just got so toxic at work that I couldn't do it anymore. So far I'm disoriented, but things are great. =)
I can relate.
I second that "I can relate." I retired 3 years ago at 58 after 25 years with one employer. Management toxicity the reason. As long as you thought through it and made sure your ok financially, you should be fine. If you didn't, take the time now to do so. You will be fine as long as you have a plan, even if that plan is to travel the world.
@@dpayneless1962 Yup! Management was an issue at my job too. I was able to travel when I was younger. I don’t really have a plan. Hopefully, God has one for me.😀
Good for you..enjoy the disorientation
Management is the determining factor why people retire or quit their jobs. People dont quite jobs, they quite management. I can relate. Toxicity at work is my reason to retire this year.
I just retired at 53 from my job. If Inhad stayed longer, yes I would make more money but my equation was time equal money.
There is no amount of money that will pay for time.
I will tell you its a weird feeling. Some people told me it will take several months to get use to it.
My opinion, if you can retire early do it.
My health is priceless.
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determines a lot of things, my parents both spent same number of years in the medical profession, my mom was investing through a financial advisor while my dad through the 401k. On retirement, my mom retired with about $5million, while my dad retired with roughly $3.8million.
You are right. I’m in my mid 50’s now, my wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with profits over the years, but at least I’m earning more. I’m making money even before retiring and my retirement funds has grown way more than it would have been with the 401k.
It’s unfortunate most people don’t have such information, I don’t really blame people who panic cos lack of information can be a big hurdle. I’ve been making more than $25k passively by just investing through a financial advisor, and I don’t have to do much work. It doesn’t matter if the economy is crashing, great CFA will always make good returns.
Renowned for his proficiency and expertise in the financial market, 'John Desmond Heppolette' my financial advisor, holds a broad understanding of portfolio diversification and is recognized as an authority in this domain. Just research the name online, you’d find necessary details to with a correspondence to set up an appointment..
@@Alejandro.NThank so much for sharing. Your advisor was simple to discover online. I did my research on him before I scheduled our phone call. He appears knowledgeable and well accredited based on his online resume.
John Desmond Heppolette. Has transformed my life, he is amazing, and ever since I met him, my life has taken a positive turn because of the passive income through his knowledge. He’s ideas is essential for succeeding against all odds in this area of online commerce. I’m free from debts and am able to save up more for retirement.
Sincerely, I'm genuinely moved by what you said about early retirement. And yes i equally agreed with you It's the FREEDOM from being able to make a conscious choice, each and every day, in terms of how you’re going to spend your time… I have about 40k that I am willing to invest if given the appropriate knowledge and I am highly interested in investing. My greatest concern is losing money on a bad investment. I'm open to hearing your advice on how to make sensible investments as a result.
My belief is that making a wise investment is a fantastic way to save money for the future as well as a way to generate passive income. Those who make poor mistakes early in life regret them later in life. But, if done alone, investing may be challenging and risky. For this reason, I suggest consulting experts for advice (FA). The difficulty lies in effectively employing it, not just watching videos and reading investing books.
I try to see a financial coach before making any investment decisions because of this. I've been using one since the pandemic outbreak because their entire business strategy is based on trading long and short at the same time, employing profit-driven strategies and reducing risk as a safeguard against unavoidable downtrends. Furthermore, because they have access to insider information and analysis, it is practically impossible for them to perform poorly.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success.
There are a lot of independent advisors you might look into. But i work with Eleanor Annette Eckhaus, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly..
Retired in April at 59 1/2. Just couldn’t push myself into work anymore. 3 months of freedom on Monday 🎉
I was so sick for almost 20 years. Don’t know how I continue to work but I did and I retired when Covid hit and my health started to improve immediately. It is three years later, and I feel better than I have in 23 years each and every day.
Was it the stress, the hours?
@AzuI-wellsYou are a fake! Stop trying to fool people with your identity. For shame.
@@sct4040 the building made me sick. It had mold in the ventilation system, and I have a hypersensitivity to it, and never realized how much damage it did to my body.
@@brianasamuels so glad to hear your feeling better after getting out of the mold. Enjoy!
@@brianasamuels you are LUCKY that you did not have your mental capacity impacted, a friend of mine has lost mental capacity due to mold... when he called me last week from an assisted living facility, he said, "today is a good day" - meaning he seemed normal. He said some days are worse. Everyday is a gift.
I cant tell you how much blow back I have gotten from friends when I tell them I am retiring at end of the year at 61. They give me all kinds of reasons why I should not retire. I have the money and still healthy. I want to make the most of the time I have. Not wait till I get sick and have to retire. 45 years of skilled trades has been tough. Its brutal work after the age 55. I have always walked my own path, a born contrarian. I'm retiring no matter what these other people say.
More power to you and to what youre about to do. If you do it responsibly, theres no way you can loose since youve been disciplined for more than half your life.
Good plan!
Wish you the very best 🍀
Get it ol son!! Congratulations!
I cut out at 55, no debts and no money. Moved over seas and absolutely enjoyed my life .. 67 started SS. Now at 71 I have about 220K in the market and a paid for house in the US.. Don't regret a thing. Everyone is different. For me being single male and poor the US was not an option. Now at 71 I cannot tell you how thankful I cut out early.
Good for you. Wish I knew how.
I just retired this June at 60 years old! Spending time with my children and grandchildren! These are my go-go years and I decided I would rather enjoy the health I have today instead of spending it (and wasting it) working for my employer. I also moved out of a high property tax, high crime city into a peaceful small town! Love it!
YOU ARE MY HERO
I retired last year at 58. Your story is pretty similar to mine in that I moved out of the high tax high crime big city and am currently looking for a house in a small town or the country. In my case it helps that I am fine with living a simple and affordable lifestyle.
Good for you. I'm almost 56 and am planning to retire at 60.
@@canadianukranian509That's the million dollar question: when to say when.
Congratulations and smart move!
I have two pensions. I would much rather have had a Roth 401k throughout my working lifetime. $500/month invested from 25 - 65 at 9% is $2.3mil. I hate my job but can't leave because of I won't get my state pension. What do you think about doing a 70/30 stocks bond ratio?
I would avoid the index funds, mutual funds, or specific stocks for the time being. 5% fixed incomes are the safest bet for now. Save your cash for when the market actually shows signs of recovery
Accurate asset allocation is crucial right now, and some individuals use hedging strategies or allocate part of their portfolio to defensive assets for market downturns. financial advisory is vital for achieving this. This approach has helped me stay financially secure for over nine years, yielding nearly $1m ROI
I don't comfortably throw recommendations around, but I've been working with “Natalie Carol Nielson”. God, she's brilliant! You should do your due diligence online cos I'm sure there are others who are good, Just that it gets overwhelming finding who's suitable
excellent share. just looked her up on my iPad thankfully her page came up after scrolling a bit, she seems first rate
How long to work before you get your pension?
Planning on retirement at age 55
30 years with my amazing company
Started from zero with a High school education
Commission based job
Will have 3 million in our company profit sharing program
Wife was a teacher have health benefits covered
Just praying every day for good health to enjoy all of our hard work and sacrifices
This is one of your best videos. As for myself, my original goal was to retire from working as an engineer with a degree at age 55, but my employer forced me out at age 43. Got another job at a local city in Southern California with a new goal of retiring at age 57, but the stock market had a major correction (dropping more than 30 percent). Afterward, I adjusted my retirement again to be at age 63. This weekend, I am filling out my retirement paper work (smile...smile).
Almost verbatim my story too...
It seems to me people talk about how much money they should withdraw and part of that calculation is insuring they don't run out of money. I haven't heard people talking about not touching the principle and living off the dividends! This would ensure that you don't run out of money and you can leave it for future generations!! We are so fortunate to have been able to stop trading our time for money when I was 49 and my wife was 46 and we don't worry about running out of money because we don't plan on touching the principle! Thank you so much for everything you do and spreading the word about financial freedom! We try to spread the word too, I hope more people start to get it!! We started on our journey in 1993, and it's refreshing to find people like you who were thinking about this stuff at a young age, doing so has paid off infinitely for us, we are so fortunate and grateful!! Thank you again!
I’m in the esteemed group of “laid off at 53 and can’t find a job”.
At 1.3M saved. I’m starting to think Costco for benefits and pocket money is looking better and better.
Through hard work and frugality I was able to retire at 52 ten years ago after working as a leo 25 yrs. and a vet. I broke traditional rules such as paying off my home with part of 401k, paid taxes on it, aggressively investing in non tratditional assets. Don't regret any of it, I love my life. Thanks Dave Ramsey, Clark Howard, and Robert Kyosaki. In addition to many books, podcasts, etc on financial literacy. I live debt free.
My wife’s mother just passed at age 95. She spent the past 15 years in a memory care/assisted living facility. The monthly cost ranged from $10,000 to $13,000 per MONTH. If she didn’t have a great long term health care policy, she would have gone bankrupt and probably the family as well. So, all these dreamy early retirement scenarios and betting on how much money you need in the future is nothing but wild speculation. Nobody can predict the future. Nobody.
😂😝😆😝😂 poor people live in these places by the thousands. Medicaid, Medicare, welfare and whatever else pays their way. Stop the drama.
My good friend is a disability project manager. She says the stats are that you will need long-term care more than life insurance, but everyone talks only about life insurance. She says statistically, more people will become disabled and need either a higher % in long-term disability in their 50’s/60’s than dying, and she highly recommends you increase your long-term disability % in your company benefits, plus get a solid long-term care policy because this is what makes people go broke.
@@hollywhiteside2582 when you’re in long term care you don’t need nothing but long term care, you don’t need an accumulated wealth, you can’t use it. Smh…
@@_DB.COOPER Medicaid will IF you have spent all the money down to about $2000. And if you can find a Medicaid room...not all facilities have available rooms or even accept Medicaid as payment. Medicare will pay costs right after a hospitalization up to 20 days of skilled nursing home care. Medicare will then pay partially from 21 to 100 days. Nothing after that unless there is a separate hospitalization after a specified period of time. Long term care insurance generally doesn't pay for years and years. A relative had a policy that paid well, but only paid for 18 months.
@@mdoe37 Medicaid will pay decades! PERIOD!
It sure was for me!!!! 6+ years retired and I started at 52. I really don't understand why people don't retire early if they can.
Here is a reason to help you understand: I like my job. Doesn't even feel like work. Plus, I earn $100k or so a year
@@philip7654 I made a lot more than that. I liked my job too. I saw my mom die at 59. Wasn’t going to happen to me. Now I have 6+ years in retirement. I’m good. Tomorrow is NOT guaranteed
@@joethecomputerguy1 Very wise! Enjoy your years.
Most people couldn't. Just simple dollars and cents. It's nice that you made so much money, and I bet that you were able to invest a good chunk of change, too. Most Americans aren't in that situation.
@@edennis8578 I did ok but not big money that’s for sure. Biggest part of that is living beneath my income level all my life. So many people spend everything they make. That is a big no no. Don’t try and keep up with the Jones’.
I’m retired from the Army and will fully retire at age 53. One yr left
We’re retiring (hubby and I), in 377 days. I’ll be 60 he’ll be 62. We’re moving to Scotland, UK, where I’m originally from. We are done working we aren’t rich but debt free and ready to go! Woohoo we’re so excited to be starting this new adventure in life.
Congrats Sharon. The countdown is on! Before you know it, there will be less than 100 days to go. Good job paying down your debts. That helped alot in giving you both the freedom to retire. Thanks for watching and for taking the time to comment ... 😎 Azul
Retiring in 2 months 63. Wish I had done it years ago. My wife retired at 61.
I like the idea of the bucket strategy. Divided by expense needs. Maybe 5 years worth in bucket 1 (safe, interest bearing accts.) The balance in bucket 2 (invested conservatively- you will live off the annual gains from this- in down years, draw from bucket 1, in boom years refill or expand bucket 1)
I’m giving my notice 12/29. Unfortunately, a lot of close friends didn’t prepare much and it’s hard to share my excitement. I understand bc so many are stressed in their jobs but can’t leave. 😢 I tried, for years, to get them to invest.
It's like the little red hen story...saving quietly and taking care by being responsible..great job :) and you may have to find new friends if they're jealous
Canadian here. Now 58 and retired at 56. Best decision ever. But I’ve an indexed DB plan. And the Canadian system is more generous.
After considering it for too long and after listening to your podcasts the last few months I've finally decided it is my go time - 77 days and counting (age 58)
Thank you always for your videos.
They are very interesting.
I am a man in his late 50s living in Tokyo, Japan.
I have worked for a long time at large corporations such as Sony.
I was dispatched to the UK and lived there for 5.5 years when I was early 30s.
I started investing in real estate at the age of 45, and now I have a net cash flow of about 300,000 yen per month.
(U$2,000)
I could retire if I moved to an area with lower living costs in Japan, although it would mean a quite modest lifestyle.
Kindly bear in mind that the average cost of living in Japan is significantly lower compared to that of the United States.
In Japan, the age to start receiving pension is 65 (though you can start receiving it from 60 with a reduced amount).
I plan to semi-retire in about two more years.
In Japan, work is culturally seen as a virtue, and many elderly people work not just for the money, but to stay connected to society and to contribute.
Watching your videos, I am planning to semi-retire around the age of 62, not 65.
I am a real estate specialist and plan to start my own real estate business, working at my own pace.
I think I could live comfortably if I could earn additional 200,000 yen (U$1500) per month
(though I realize it may not go as smoothly as I hope, I don't think it's too difficult to earn this amount per month).
I am divorced but am considering remarrying and am currently engaged in Japanese-style match-making.
The FIRE movement, as it's called, is quite popular in Japan as well, and my younger brother achieved FIRE about 7-8 years ago.
However, the number of people who can actually achieve FIRE is very limited.
In Japan, many elderly people work until around the age of 70.
According to government announcements, the average retirement age for men is 70 (for women it's 66).
According to the same report, the average retirement age in the US is 65.
In other words, the average Japanese man works five years longer than the average American man.
Japan has experienced long-term deflation (30 years),
unlike the US. Economic growth has stagnated, and the average salary has hardly risen in the last 30 years (though of course, talented and capable individuals have been earning higher and higher salaries). Everyone in Japan has a public pension system, but the amount is about 80,000 yen (U$600) per month, which is obviously not enough to live on. The average monthly pension received by salarymen is about 160,000 yen(U$1200), but even this amount makes it difficult to live,
hence many elderly people work for their future.
Japan operates a universal health care system, which mandates all residents to have health insurance. The system is predominantly divided into two types:
Employee Health Insurance, which is for those employed at medium to large companies. The cost of this insurance is generally split evenly between the employer and the employee.
National Health Insurance, aimed at those not covered by Employee Health Insurance, such as self-employed individuals, small company employees, part-time workers, retirees, and the unemployed. The cost is determined based on the individual's income, age, and place of residence.
Regardless of the type of insurance, insured individuals are required to pay only 30% of most medical services costs, with the insurance covering the remaining 70%. The system also places a cap on out-of-pocket payments to avoid severe financial burden due to medical expenses. Once the limit is reached, additional costs are fully covered by the insurance.
However, Japan is facing significant financial pressure due to the healthcare costs for its aging population. With one of the highest life expectancies in the world, the country's elderly population is growing, leading to increased demand for medical services and long-term care. This trend is causing the government's healthcare expenditures to rise significantly.
Solutions to this issue are complex, as they must balance the need to control government spending with the importance of providing care to all citizens, particularly the elderly who are often in greater need of medical services. Despite these challenges, Japan continues to work towards ensuring that its healthcare system remains affordable and accessible for all its residents.
Thank you for reading my long comment.
Thanks for your perspective, hopefully Japanese robots will help shoulder the coming elderly population boom 😊
You have 6 more years of life expectancy in Japan compared to US, you’ll have to plan better than us. 😊
Interesting perspective from another culture. Good luck!
Thank you for your comment and the peek into your culture!
I was 59-1/2 yesterday. Planning to retire in the next 6 months.
I did the same. You will love it.
I put 2 years of our living expenses of my husbands IRAs into treasury bonds government funds (cash). The rest is in s&p500 index fund that Fidelity has. We also have an apartment building that brings in a little income. The rest of our income is from DSTs and SS. SS brings in about half and DSTs from sold real estate brings in about half. My IRA is a self directed IRA which is invested in a syndication. I enjoy your channel immensely and I tend to not spend down our assets but I’m going to take a trip to Europe solo (my husband doesn’t like to travel) this spring because of your influence. I grew up very poor and want to always have enough and I’m in charge of our investments. I’m conservative.
I will be 55 in 2 months and I started working abroad at 23 and until now working like jack of all trades and while I’m capable of moving I have no plan to retire.
We made the decision 23 years ago to live off one salary and invest the other. After having three children, it was difficult, but we worked extremely hard and made significant savings. With our teenagers, we have been touring the US for the past two years. We are currently 47 and 48. FI was significant. Although we're not quite ready to retire early, we do have the choice. We have roughly $1.7M.
To the newbies I would say have a mentor. Not sure where you will get an experience one, but if your knowledge of the market is limited, it seems like a good bet.
@@biankabrodeur01 -I agree. I got into the market early in 2019 and the downtrends discouraged me, so I sold off. I got back in 2020 this time with guidance from an investment adviser who was recommended by a friend of my wife. I have made over $230k in my first year working with her...
@@geraldantonio3160 There are many freelance advisors you could check out. I have been working with “Stacie Kristal Weber’’ for four years now and she's really good. If she meets your discretion, then you could go ahead with her. I endorse her...
Great video. I've been planning most of my work life. 55 now and considering it. Health insurance is holding me back.
I’m 64. I retired May 9 from being a full-time Assistant Professor of 18 years. I’m collecting SS and have a state pension of around $1000/month. We’ll fill in the gap with side hustles. It’s time for a change. There are things to do before time runs out. Isn’t 4 % just touching the interest? My fiduciary says that we should be able to keep the principle safe.
UK here! Retired nearly 4 years ago at 60. Got a small forces pension combined with a company pension, getting just over £15K a year.... Far from rich, but all debts and mortgage paid off, which is a massive plus! I don't need a lot of money, just enjoying my time now, I hated my job!
So many variables for retirement... health, friends, family what a decision to make, im struggling myself to make a decision
I retired at 54 and never regretted it. Going to take SS at age 62. Going to live and thrive in my go-go years and use my money for fun and sun. I am 61 now.
I retired at 52. Going into my 6th year of retirement. I am not like most people. I never wanted to work. So I focused all my energies on getting out of the rat race as soon as I could. I did it in 12 years, but I could have done it in 10 if I wanted to. However the additional 2 years gave me a bit more options, so now I live quite well and am enjoying my days.
Interesting, although I'm in the UK and you can't take pension benefits until 55 at the earliest, this is rising to 57 in 2028 😕
63 and still deciding if its time. I check all the boxes and these videos are helpful.
I have 4.5 yrs left and I will be one of these. Being the market has been down I have been buying more at these low prices which is only a bonus and going to help. It's going to be weird to be retired at 55. If you make a plan and live your plan, retirement can happen.
one thing to keep in mind even a conservative dividend on the s&p is 1.5% if your withdrawing 3 percent that dividend accounts for half your withdrawal so your only taking out 1.5% of your principal assuming it didn't accumulate at all you'd still have 60 years of withdrawls
I looked into Passive Income investing. Basically High Dividend Paying ETF's. I set up a few for fun, about $10000 just to try it out. After about 2 years some of the ETF's dropped their principle 40%. Not for me. Some of them dropped so low in value that they stopped paying out dividends.
Muchappreciated thank you 👍
You need to listen to this guy, He has all the facts and numbers together, he knows what he is talking about, He is the best advice I have heard
Retired at 57. It was the perfect time for me. “Sweet Spot” I am drawing 3.5%. But I am still saving cash off that. I may need to reduce to 3%. I keep my cash reserves in a bank paying 5%. I just don’t want to leave any money when I pass.
Could you do videos on pensions and how they impact how much investments one uses in addition to the pension....thanks, great stuff !!!! Many teachers watching you !!!!
What about putting your million+ (or less, and let it compound) retirement money into Dividend ETFs (such as VOO which is basically the S&P 500) and live off of dividends alone without having to reduce your principle at all, or at least reduce the amount you need to bleed out of your retirement funds?
Im 56 and retiring on August 1st. The work environment has become so toxic that its a no brainer for me even if I have to tone down my lifestyle. Since I made that decision Ive really been watching people and you really begin to see how so many people are pretty much never going to be able to retire while they are still healthy. Im so glad my wife and I never had any expensive habits and paid our house off. Im also ASTONISHED by the response by some people as to why am I retiring "What are you going to do with all of that time.?" I think there is a huge amount of people in the US that simply dont know how to spend their time and choose to be at work because they don't know what else to do. Thanks for this channel..its gives you alot to think about
56. 57 soon. Have saved and saved. Still nervous about pulling trigger. How do you get past fear of running out of money?
@@clydeebanks2866 Go to an advisor an have them run a Monty Carlo statistic analysis. It will help with your discussion. I'm 56 and pulling the trigger in 5 months.
@@clydeebanks2866 I'm an RN so I can always work 1-2 days a week if I need to....there always a way to make a little cash in todays society. Im a little nervous too but my life experience has been that I always wound up on my feet somehow if something went wrong. My wife and I have hobbies and things we like that dont cost a whole lot. Social security will kick in in another 7-8 years too. In the end I gues it just comes down t your comfort level. Good luck to you and I hope you make a decision thats best for you!
@@Rottingboards nice to see you are making your escape!
Congratulations! Retiring early when you’re still healthy means you can develop new hobbies and habits that you enjoy. Working too long means you might not have the energy to do that. I just pulled the trigger in June at age 55, and you’re correct that a lot of people are surprised, and even asked if I was “all right”. My response is “I’m fantastic!”
My wife and I are going to start working M-Wed next year. We are 48 and debt free.
Does the M-W job cover health insurance? If not, mind sharing your plan? I’m 48 and plan to mini-retire at 50…travel a bit for a couple of years, and then do something different. I’ve been in IT for 30 years, which has been a great career, but interested in doing something more fulfilling.
Hi Azul, love your content! I am 59 about to turn 60 in a couple months. My husband is turning 63 next month. I’ve been planning on retiring at 62 but lately am feeling like going sooner. We have $1.4M in 401k and IRAs. I also have a small pension of about 2k/ month and can continue health care with my employer for a reasonable monthly premium. We live in a low cost area and have a paid for home and no debt. I have all the fears/excuses you mention in your videos. I will keep watching until I get up the nerve to just do it. I wish I was not such a pessimist 😂. I keep thinking the economy is going to tank.
Do it! If you have that pension and will be getting social security, then you should have a good amount of consistent income when SS kicks in. The only suggestion is to make sure you have a few years of expenses (beyond what the pension will cover) in cash. That’ll let you sleep much better if the economy does tank for a bit.
@@dforrest4503 thanks for the advice. We have about 18 months of expenses saved. I think I would feel comfortable if we can get to 2-3 years.
I am 45 years old with very little set aside for retirement at this point. I have always been curious about the stock market and have witnessed some people who played the game right and retired early because they used the stock market. When I ask them, most said that they invested very little to start with, but their portfolio grew. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make decent returns
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again
@@carssimplified2195 That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
My Financial adviser is ‘’JULIE ANNE HOOVER’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
@@carssimplified2195 Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Hi Azul, I am a subscriber and just retired at 56. Your excellent channel has helped increase my confidence level to decide it was “go time” to take this leap. Not easy to walk away from my career and it comes with some feeling of loss. But I’m excited about the future. Thanks again and keep the great vids coming. -Mike
Right allocation is up to the person and time frame projected. GL!
Love the idea of "Go Time" for those that have been diligent, and early, in saving $$. My Go Time will be turning my side-hustle into my part-time "stay out of my portfolio" job. I don't want to quit working. I want to quit working for the man and start working directly with customers. Four years into building a family business that I can pass onto my kids.
I’m 58. I ask myself this from time to time and I always get the same answers. Do what, and I will probably live to my 90’s like everyone else in my extended family. I am not retiring for at least another 10 years. There are lots of people at work older than me, so I don’t worry about age discrimination.
Did it nine years ago. so glad I did. I have the fortune of a pension and a 457B,both claimed at 55. Claimed Social Security at 62
Retired last week at 53. We own two high end homes in Tampa and a paid in full townhome in Dubai that will be completed in 3 years. Will travel overseas with my wife , 12 and 23 year old children fro a few years and live off of my two rentals about 5500 per month. Have about 800k in equity in the two US homes.
Have 60k money saved and 120k in a 401k .
We aren’t moving back to USA, I am also an EU citizen!
Any advice is welcome !
Pension Insurance companies use 22-23 to divide the available capital to last for lifetime at 65 years old when retireing.
A good indicator. The asset allocation is usually 60pct bonds 25 stocks and 15 ”other” ( realestate, private equity etc).
Sequence of event risk is difficult to manage and can have catastrophic effect. An optimal asset allocation has been calculated to 37 pct stocks 63 bonds five years after retirement. Five years prior to ret cut down gradually to 20 pct stocks then increase gradually to 37 pct at five years after. Also combine with a flexible withdrawal rate.
I would retire at 62, I am 59, we have the $$$. I am concerned about health insurance donut hole. This needs to be talked about way more and help us all in this hole.
It's The health care issue. Absolutely
As a guy in my late 40's, I like the rule of 4 for planning. It's just an easy calculation. But I plan to use a more dynamic withdrawal when actually retired.
Checking in with my finance guy next week to see when I can realistically retire. 🤞
Most people I know that worked for the San Francisco government all retired in their early 50’s. The pensions are in the six figure range. I should have taken a government job when I was younger. My goal is to retire at 60 with over 36 years at my company. Hopefully, that will be a reality one day.
I'm aiming to retire by 60. My youngest graduates high school that year. It's funny, I don't consider it 'early' but I guess it is.
4% is a mighty broad brush. Allows you to skip past the hard work of planning. retiring at 57 - 1.6mil (60% Safe- bonds, & cds, 40% S&P 500), No Debt including mortgage. Wife (teacher) working a couple more years (she likes her job).
I think the important thing (as everyone would agree) Know your detailed expenses (all the way through end of life) think GO-GO Years, kids out of house, older slow down years etc. Know your Social Security amount! Long term insurance (I'm using my house..i keep my house out of the plan besides for Long term insurance)
Use software: 1.) Excel 2.) New Retirement 3.) Right capital. I use all three.
I found that the when social security kicked in my withdrawal rate went down quite a bit. So I was at 6.5% pre social security then it drops down to 2-3%.
I would hate for someone to not retire because of the 4% rule because of lack of thorough planning (especially if their job is stressing them out).
Fun listening to your stuff Azul.
Let's think again about retirement.
I often wonder whether the purpose of retirement is to seek a happier life or to escape from an unbearable lifestyle or work routine. It seems to me that I have no reason to retire in either case.
In my own life and work, there are certainly moments of stress and headaches that make me want to escape. But somehow, I seem to be able to control these pressures and headaches, turning them into positive influences in my life rather than negative factors.
I believe that moderate stress and challenges are beneficial to the mind and body.
There is a saying - "The unbearable lightness of being". Perhaps others feel differently, but I find it hard to imagine a life without weight, as light as a feather, without meaning. Can I bear the thought of my existence having no impact, no use, no concern, and no benefit to anyone in the world? Can I enjoy living in such an existence? I may wander alone like a lone ranger, but I still hope to have some connection to this world.
I like to have some weight, but not too heavy.
To be somewhat wealthy, but not to the point where money loses its value.
I enjoy the aspects of my work that I like and manage the aspects that I don't like in moderation.
I even try to incorporate more of the things I like into my work. Especially apart from the Lord above, I am my own boss, with a lot of say in the content and quantity of work and the timing of tasks.
I enjoy the feeling of making money, even though I haven't really cared about money for about ten years. When I have my own business, I always strive to run it well and gain the approval of customers and partners. The most direct indicator of success is a good business and high income.
Enjoying pleasure in work, learning new things, cultivating wisdom, and feeling satisfied - isn't this the purpose of life, whether you retire or not?
I retired 7 years ago at 50. We are living life large!
According to the internet, you retired in 1971😎
@@fgilmont I reckon you believe everything on the internet. Smh.
Retiring next year at 57. I have a lot of plans after retirement and am looking forward to it.
I’m 54 and my plan is to go in 60 months, barring a complete financial meltdown. Lucky that I’m a Federal worker, and will have well over 35 years. 🤞🏼 I’ve seen more than enough people wait and wait, then have severe health problems or die right after retiring. I believe in the idiom: “you can’t buy time.”
Yup, worked in workforce development for Thirty Years. Yup, most of them from experience: soon as they retired, they either had a heart attack and died, or stroked out from the stress, of having nothing to do, other than sit on their old arse, and watch television. Yup, contrary to popular belief;
*Society is not sending You out to those purported 'Golden Pastures' for Peace and Rest, y'all...
Rather; *...They're putting you and others like You, out to slowly Decompensate, ..and Die. Hate to say it, but Life for Most, kinda works out that way from experience. - Peace. \\//
60 months or 5 years…whichever comes first. Lol.
Retirement requires tremendous changes in your identity, lifestyle, and more -- not just your finances. Planning to just play golf and fish? How fast will you be bored with that? Travel? How much travel can you do before you want to relax at home? I enjoy my work and lifestyle. I'll work as long as I can.
It makes sense to me that you would reduce the risk in your retirement fund as you got older. I retired at 55 but I still do some work, I consider me going out and doing some work as one of my assets.
Got out at 62. Dont wait
No thanks. Waiting till 70 hopefully. I like my job and make $100k or so a year
All these people planning for 30 plus years past sixty years old I’ve got one question for you: What are you saving for? Your ventilator? I don’t care if I’m penniless at 90. If I’m lucky or unlucky - depending on my health situation - to be alive at that point I’m certainly not going to care about how much I have in my savings.
I’m going to die in the Philippines surrounded by people who will enjoy most of my pension until I’m dead. And when I die my goal is for my bank balance to be zero.
No wife no kids, thank God, and no worries.
I’m 54 and my wife 50 we are both newly retired with over $3 million in net worth and no debts. Spending time with our children and grandchildren! Currently living smart and frugal with our money. We also moved out of a high property tax, high crime city into a peaceful small town! No longer putting blames on FED for our misfortunes. Saving and investing lifestyle in the stock market with the assistance of a licensed broker who we met at a financial seminar made it possible for us this early, even till now we earn weekly.
My husband and i just had this conversation this morning. This is exactly how we wish to get our finances coordinated ahead of retirement. Can I get access to your advisor?
@@gatesbev Sure, the advisor that guides us is HEATHER LEE LARIONI, I got to know her through my wife. It's my wife that has her contact, but you could further investigate her credentials and contact her yourself. She's well-grounded and known, shouldn't be a hassle finding her page, just look up her name.
@@aureliobjm Just copied and pasted Heather Lee Larioni on my browser and her page popped up immediately, thank you for saving us hours of researching.
Going out in Sept at 59 years old. I got all the ducks lined up. NOT playing the market, got out over a year ago, 100% of portfolio is in laddered CD's at 4-5% and cash in short term CD's at close to same rate, gonna pull 10% a year plus a small pension to 65 then pull SS a year or so early and drop the pull back to 2.5%. MORE than enough to cover current expenses and insurance until the 65 mark, money should last until 92-95 range with zero worries about what the market is doing.
How do you pay for health insurance?
4 years - Ill be about 62 . . Thats what Im thinking. Am SO done. Maybe will work part time after that at that point. Want more time to enjoy life.
My biggest question in trying to retire at 62 1/2 is going to be the cost health insurance...I am completely debt free...I guess an option could be part time job with benefits....doing something I want to do...
yes I am taking your suggestions to heart. planning to retire around age 60 which is some 2.5 years. Crossed fingers the market comes back strong. Part time work is certainly in the cards as needed and cash flow from a rental home will keep from pulling too hard on the accounts. Good Advice!
Love reading all the comments. Very inspiring and motivating. Let's go!
I got out at 46 - best move I ever made, I truly believe the earlier you retire the longer you live. After a couple of years I went back to do some freelance work doing the 2,3,4 strategy - two days a week for three weeks a month and I take four months off - providing an excellent life balance.
so you didn't retire..
I need to wait to get 20 years on my job. This means I need to be there two more years. I can’t wait as my job is super toxic. I wish I could walk away now. 😢
57 years old. Six figure + government pension and large 457b and DROP. I’ve been working and saving since I was 21. 60/40 allocation. I’ll never work again.
13JUL23; just celebrated my 1 year retirement anniversary @44; no savings, no 401K; But, my primary home is paid off; investment property is cash flowing; both properties will cash flow $2.5K, as we're moving to Asia 29AUG23. Lastly, my only saving grace is a government pension of 25 years @ $6.7K/monthly with yearly COLA, plus healthcare coverage. I think it's an okay spot, moving forward. ❤😂🎉
Come to Thailand or any number of southeastern Asian countries. You can get by with 20k per year or 30k if you're married.
But, the withdrawal rate is not constant for 30 years. It would be higher for the years prior to social security. Then when SS becomes a factor, the withdrawal rate would drop accordingly. Also, probably another drop with Medicare if pre-medicare insurance was higher. Doesn’t that allow for a slightly higher withdrawal rate in the first few years?
Being forced to retire by an employer could be a better way to retire if there is some kind severance package involved, so do consider that as well.
HEALTH CARE is my biggest issue. It's the only reason I've stayed at my job.
Consider the Affordable Care Program. If you’re not a high income earner you can get a Bronze Plan for free. Helps bridge the time period until you’re eligible for Medicare.
Death Care, really.
When is Azul retiring? That is the magic question :)
Retiring at the end of the year. Age 58. Will be using pensions and social security for guaranteed income that easily cover expenses.
Equities will be for discretionary spending. Using Guyton-Klinger withdrawal strategy for that. IMHO, variable withdrawal strategies are superior. I don’t like the 4% rule. It is very vulnerable to sequence of return risk and doesn’t fit how I want my spending to be in retirement.
My wife is older and already eligible for SS. We’ve both got pretty high PIAs. Mine is slightly higher; so, she is starting her’s early and I’m delaying until 70.
I’ve worked at my company for 36 years and am eligible for retiree medical that is similar to my current employer plan. It is much cheaper than Cobra and better than ACA plans for the same cost. It will get us to Medicare; so, we’ll be good for that.
Can’t stress how wonderful my wife and I are feeling being able to retire early. We’ve got so much we want to do and we’ve been fortunate to be able to prepare more than enough funding, and build a great plan with the help of folks like @Azul, academics like Dr Wade Pfau, discussions with groups on forums about retirement, and of course our longtime financial advisor.
If you are reading this and think you are close to being ready, talk with an advisor and those you trust and pull the trigger if you can. Don’t wait if you are prepared. Time is definitely more valuable than money at this age and you should definitely use all your time now for what you want, not for what some job dictates just to make some additional cash to add to a number on a balance sheet. 👍
Thanks for putting the warning about checking the impact on Social Security. Having a big old 0 in some of the years has a big effect. Anyone thinking about doing retiring early should go up to the SSA site and look up their account and put some 0 for the years until they get to 62 and their Full Retirement Age and see the impact.
Retiring in 8 days, mate 😊😊😊
I’m retired at 54 after investing in multi family real estate, Had a plumbing /heating company.. and will never run out of money.. feels great ! Used my VA loan to buy my first duplex..never paid my own mortgage.
just want to say all these 401k and waiting to retire is crazy. Im 49 and found a way to make my own finacial path with returns daily and my assests are not in the market but a very short time. the only reason i watched the video is it says its your time. i say with confidence tjay i average 900 a day 5 days a week om average. its taken me 9 years to figure this out and im l8ving my dream. best of luck to the resy of you.
What about besides having 2 pensions when i retire i will also have a nice amount of precious metals to back up my pension pots which i will have accumulated over the next 15 years the more things i can accumulate now will benefit me when i retire
Nice feller😊, Thank you.
Contacted a fee only financial advisor, they wanted $15k, no way !
If a person retires in their 50's or low 60's what are people doing for health insurance until they turn 65.
I'm only able to retire overseas but I can do it. Would you stay in US and keep working or retire overseas? No kids, divorced.
Withdrawal rate is confusing. I am withdrawing 5% from my traditional IRA to keep taxes down but I'm not spending it. I may need it and don't want to xfer a tax liability to my heirs.
Your thumbnails are on a whole new level.
I can retire anytime this year i have a good pension from my company and have enough until i draw my ss pension till 65...but i work from home like a retired person...so i felt no need to retire at this time...do have savings on my investments and building up my prop for rental income....so will wait for few more years to retire...