Medicare and Social Security is literally wealth redistribution from young to the old. Other videos on this channel show people reaching that age wanting MORE medicare/medicaid and social security benefits. They then turn around and blame young people for being lazy and not having children as the reason for the programs failure.
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
The truth is, the role of an investment advisor can often be overlooked but should never be underestimated. After facing a significant portfolio loss in 2020 during the COVID pandemic while trying to manage my investments on my own, I decided to reach out to an investment advisor. At that time, I had about $126K left in my portfolio. Now, without having to lift a finger, I'm semi-retired, working only 7.5 hours a week, and I'm just 15% short of my $1 million retirement goal thanks to my subsequent investments.
Agreed, investing with the help of an advisor set me up for life. Retired with about $1.6m in stock portfolio only. I worked hard everyday as a teacher for 32 years, and my salary was over 100k annually. Supplementing my income with stocks and alternative investments helped me by far beat the retirement age of 65.
Money advice is subjective, what works for you may not work for someone else, but it's always better to plan. I'm quite lucky exposed to personal finance at an early age, started job 19, bought first home 28, got laid-off work 36 amid covid-outbreak, and at once I consulted an advisor to handle growing my finance. As of today, I'm only 25% short of my $1m goal after subsequent investments.
"Whenever the government provides opportunities and privileges for rich people they call it ‘subsidies.’ When they do it for poor people they call it ‘welfare.’ The fact is that everybody in this country lives on welfare. Suburbia was built with federally subsidized credit. And highways that take our white brothers out to the suburbs were built with federally subsidized money to the tune of ninety percent. Everybody is on welfare in this country. The problem is that we all too often have socialism for the rich and rugged free enterprise capitalism for the poor. That’s the problem." -Dr. Martin Luther King Jr.
“America is not a country. It’s a Big Business. Money and profit Trumps integrity, morals, and ethics, along with people’s lives and livelihoods. Your oppression is their profession.”
And the only law in America is money and power. We have a criminal traitor about to take office in violation of the constitution because bribes SCOTUS justices (unelected kings) wanted it that way.
Social security proves it. It’s a giant insurance plan that strips wealth from the lower classes. Let me invest my own money. Let me have access to my own money.
@@dustinDraig and taxes directly strip you of your wealth, yet some want increased taxes because they think the tax dollars will be used altruistically. 😂
The worst part is the people working hardest are getting the least remuneration for their efforts and then shamed in the media for not taking more hours, more work despite the poverty wages. 40% of people in work need state support. That’s a reflection of greed not poor work ethics by working people. This is being done by design, by greed.
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you, prevent inflation from eroding your savings, build generational wealth, and cultivate good habits and financial knowledge, you must be in the market.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate and stocks.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
I've always delegated my investment decisions to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.
I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
G.M. "We can't afford paying pensions to workers to remain competitive" Also G.M. : "Here's a golden parachute for the CEO so he gets paid $30 million after leaving"
In 2010 Ford paid $13.2b for UAW/VEBA to assume health care liabilities. GM agreed to ~$31b of payments to VEBA prior to its bankruptcy and had to be renegotiated. Pension liabilities are titanic, and even states will run into the same problems that these older corporations did.
@@ManforSomeMarkets Every state in America gets 30+% of its budget from Federal dollars (source: ballotpedia). It's trivially simple to balance a state budget, it's just politically near impossible because they're all corrupt. Start enforcing the bribery laws with hard labor and term limit everyone and you'll have the problem solved in 10 years or less.
Also GM - we need a bailout, because we are a fail company that doesn't know how to profit. Clearly they CAN'T afford that pension, if they are begging for taxpayer money. Let this company fail, and someone else in the free market can come in and run the factories right. Why not Toyota ? They seem to have their act together, and make reliable cars, even with US workers !
9 minutes 57 seconds the bias comes out. We need a politician that just comes in and instead of writing a billion dollar check to Ukraine, write a billion dollar check to social security and make it a 401k type system of investment. Make it so 6.2% of my income for my entire life is put into an account for me to use in the future.
@ Rent goes up primarily because the particular property in question has more demand for it, generally speaking. Local governments are not exactly ordering increases in property taxes each month.
The high inflation is a significant reason why most retirees have sleepless nights. The increase in prices of everyday items puts them at risk of running out of money. As prices rise, the amount of money retirees can withdraw from their retirement savings also increases.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in stocks, which is pretty simple. On my portfolio, which has grown over 90% in a little over a year, my advisr chooses entry and exit orders
Don't forget, gig work and 0 hour contracts and part-time work are inreasignly used by businesses to circumvent work benefits and insurance as well as pensions. Another way of keeping the young and the working-classes down.
This 10000% describes my job rn, and I work for the government!! I’m on contract, part-time, not permanent so no job certainty, no benefits, no sick days or paid vacation, you can opt into the pension but few part-timers do because it already takes a huge cut of our small pay cheques. They recently didn’t renew my colleagues contract so she’s jobless at the end of the month. We do the SAME work as the “permanent full-timers” who can do secondments and come back to their positions whenever they want and yet we are treated as disposable and anytime we protest they tell us “that’s what you signed up for”. Soon as my contract expires I’m out. May even quit sooner. Disgusting how they treat people who do an essential service for the citizens of our country…
@@plantmama7442 If it makes it any better, I'm in the same situation but in Sweden. It's not all it's cracked up to be over here either. The worst is when your co-workers can't afford to stay at home when they get sick, so they end up infecting you. I think I've been sick every other week these last few months.
I was in such a situation for a while. I refused to work until I found something better. I worked on my health, my skills in the meantime and lived on almost nothing. I thought it was a horrible time in my life then but it was actually the time I remember most fondly.
I think that's okay. Work benefits were just a way to force employees to stay at the same company for longer. We shouldn't need them. You should just be able to make enough money to survive based on getting paid for the hours that you work. And look at the guy whose pension disappeared because the company went under a year before he retired. We should not be beholden to corporations, they should be beholdened to their employees.
“the vanishing pension that disappears the minute you go to collect it. And, now, they're coming for your Social Security, they want your fucking retirement money, they want it back, so they can give it to their criminal friends on Wall Street” - George Carlin
First they made money out of land. Then they made money out of gold and diamonds. Then they made money out of environment. Finally, they made money out of their children's future. Unless... someone in power read Dr. Seuss's The Lorax, cares about a whole lot, things will never change.
I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.
Things are a bit strange right now. Inflation is making the dollar weaker for buying things like basic needs, but it's getting stronger against other stuff. So, stuff like stocks, houses and precious metals aren't doing so great because folks are putting their money into banks for safety but I'm worried about my retirement savings losing value fast.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $400k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
‘’Aileen Gertrude Tippy” just check her out. It's possible to hire a skilled financial planner especially if you're not one yourself. I hired one after my retirement pension took a hit in April due to the crash.
BS, pension jobs are out there(grocery stores, nurses, teachers, police, firemen, carpenters....) if that is what is important to you just get one, you know what people born in 1960 did not have access to? The stock market, we had to already have money and go hire a stock broker if you wanted to invest. It is so easy to start investing in your future now, a few clicks on a computer and you can start investing with $10.
@@pewpewtactical5288we can make this country much greater than what it currently is. The reason people came here is because it used to be better than every other place in the world.
@@prim.an.propher1505 move to a smaller cheaper place and only buy a cheap cash car and if you can't afford that take a bus. Johnny can't afford a car yet. Still invest 25 a week in SP 500 no matter what. Beans and rice for meals. I've been there. I remember counting quarters for gas but still put 5% in my 401k because you always buy back time first. Or work till 90 years old.
@ I find that those who have been Johnny in the past, often figure out how to avoid becoming Johnny again... or at least the smart ones. Some will be perpetual Johnnies, and nothing can save them from their poor choices.
The only country that has a better system in which there is no cap or at least its a lot higher and the minimum retirement payment is a lot higher as well is Swiss.
There should be zero social security tax. I can do way better with it than the government. As for thinking it’s unfair for the billionaires they pay 10,000x the tax you do. If your a family of four your share of the tax burden is $84k. Good luck paying your fair share.
One of the more insidious aspects of 401Ks is that it makes the interests of the working class more in line with that of the capitalists, even if it’s only for crumbs. This creates a major barrier for building solidarity. For example, I saw quite a few mentions of 401Ks and the stock market come up during the longshoremen strike, with many people rooting for the corporation. Despite being workers, people with 401Ks become materially vested in the defeat of their own class.
THIS. The big lie of the 401K is that it makes the little man vested in the idea that every giant corporation has to keep growing infinitely. If a giant corporation fails, the little man feels it.
@@jimbomac2005index funds are balanced like that. If one company fails, another takes its place and still makes all those who buy in money. Not buying in is financial self destruction. There has yet to be a 20 year period the s&p500 has not made investors money.
@@jimbomac2005 same with the pension, if a company goes down, you might get something from PBGC, but most likely not the full amount, as well as pension funds invested into the same bonds/stocks.
What do you mean it’s a barrier for building solidarity? You just said it aligns workers with corporate interests. If we want everyone’s interests to be fulfilled, then having everyone’s best interest align in unison makes that goal more achievable.
The average social security check is $1827 a month. The worst part is 22% of Americans have less than $5k saved for retirement. Start investing now! Nobody is coming to save you
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
I'm in line with having an advisor oversee my day-to-day investing cos, my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio has just 5X in barely 5 years, summing up nearly $1m after subsequent investments to date.
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
There are a few CFAs in existence. I've tried a few throughout the years, but for a few years now, I've remained with "Lauren Christine Campbell," and her performance has always been outstanding. Look her up; she's well-known in her industry.
There are too many ignorant, working-class dupes who support the corrupt wealthy-class & their corrupt RW-politics. All the major problems in the world, and most of the smaller problems, are caused by [a]the corrupt wealthy-class with their corrupt RW-politics, and by [b]the ignorant, working-class dupes who support the corrupt wealthy-class & their corrupt RW-politics.
All that money is already gone. It all went to current beneficiaries! The “trust fund” is from when social security got more in taxes than it gave out.
@@General8675Right. Gen X here, with population decline fewer people will be putting in, in future, so cost of living will be higher and SS check, lower.
There is not a single penny in Social Security. Everything you pay in has already been spent! The dollar is garbage, and since in 1971, we decided to tie the entire worlds currency to it, the entire world is FUCKED!
I just turned 44 and feel like I’m late to the investing game, with barely any portfolio aside from my 401(k). I’ve managed to save over $220k in cash, but with inflation soaring yet again, I’m growing increasingly worried about retirement. My goal is to retire at 55, so how can I best maximize my savings to achieve this?
Retirement is more challenging now than it used to be. It’s all about finding the right balance between your risk tolerance and long-term goals. You might want to consult an advisor who can help you diversify your portfolio to reduce risk while aiming for growth.
I agree completely. I’ve always leaned on an advisor for guidance, especially after suffering a major portfolio loss in early 2020 during the COVID outbreak. Since then, I’ve made subsequent investments and am now semi-retired, working just 7.5 hours a week. I’m currently about 25% short of my $1 million retirement goal.
My CFA, Joseph Nick Cahill, is highly respected in his field. I recommend looking him up online-you’ll find all his credentials and details about his expertise. With many years of experience, he’s a great resource for navigating the complexities of the financial market.
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
We have been in a depression since 2008, the yield curve has already uninverted, global recession indicators are flashing alarm for well over a year, and absolutely nobody could pull us out of the hell coming regardless of party.
I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!
I love how every time this channel gives solutions, its under the assumption that we have a healthy functioning government that isn't in opposition of implementing such changes. You might as well just flatly say we're fucked.
Hey look - immigration and abortion are the major issues you have to worry about. While you are looking and worrying about it, I can rob you blind with terrible laws that work against your best interest as my profits pile up.
@@lipsum42He's still got an irrefutable point, neither one means much if the powers that be are arrayed against it, as they have proven repeatedly that they are. Unless we get even a plurality, let alone of majority, of lawmakers who are willing to say no to the special interests lining their pockets, even the best solutions are nothing but talk from the people actually experiencing the problems.
@@lipsum42Neither a vision nor a plan means much if those with the power to approve or implement it have no interest in doing so. As much as I love this channel for bringing awareness to these factors that have led us to this point, their proposed solutions of policy-tweaking and supporting bills seems kind of anemic. For every bill that becomes law and actually does something in the interests of the general public (and very few of those do), 10 more get passed quietly that put corporate and special interests miles further ahead of the rest of us. We need to look back at our history as a nation and see what brought effective change to the status quo of the robber barons of the past: the power to unionize, to strike, to vote, and to boycott en masse.
I pledge allegiance to the flag of the Corporate States of America and to the oligarchy for which it stands. One nation, under fraud; divisible, with liberty and justice for some.
America is still great, and it will be greater. I'm upset by how badly politicians have mismanaged....well, everything. But the principles this country was founded on are still great. We just have to get back there. No more lobbying, no more special interest groups. No immunity for congress or law enforcement from the laws they hold the citizenry to. No more alphabet agencies making "rules" that put people in prison for adding a piece of plastic they bought legally to a firearm they bought legally. So many stupid laws and regulations designed to keep poor people poor and rich people richer, and everyone afraid. A government should fear it's people, not the other way around.
Are people incapable of bearing responsibility? So many of the issues can be solved by people just making better choices. Like opting in to a 401k plan should be a no-brainer. If half of the people with that option don’t take it, why should we act as though they are helpless victims?
@@alecfranklin3827 I absolutely agree. I put around 20K in per year. My coworkers are buying boats, side by sides, rv campers, and other nonsense. I only have one close friend that is planning like me.
Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment
Nobody knows anything You need to create your own process, manage risk and stick to the plan, through thick or thin While also continuously learning from mistakes and improving.
Exactly why i enjoy market decisions being guided by a pro , seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience , been using a portfolio-coach for over 2years+ and I've netted over $3million in that time frame.
I always worked 'low paying' jobs and when my (2) children were young, I became Mr Mom for a few years - It was almost as cheap as Daycare costs. Due to circumstances I "had" to retire at 62. I now receive just under $1,200 a month. My rent went up (almost $400) last year to $1,150 a month. Thanks to Food Stamps I can barely survive. I am 72 years old.
this was never a democracy, it was suppose to be a constitutional republic. yet every day politicians on the left and right violate our rights and nothing is being done to punished the officials violating our rights. big corporations rely on big government and they pit us against each other. Politician play on that race hate to hide the fact they are being bribed
I’m retired and have a 401k now turned into an IRA. Worked just fine for me. Social Security was never intended to be your only source of income in retirement.
@@erkinalp90% of open shares are controlled by 10% of the population, your statement is objectively false. The stock market is literally a giant welfare program for the rich.
Yes, and they are the type to say people don't want to work anymore, complain about poor people, etc...while they make money doing nothing, they just gave money to what is most likely a morally bankrupt corporation. And they feel so proud of themselves.
Older numbers from Apollo, but PE/PC/Alts are still relatively small compared to assets in public markets: Global Real Estate - $130t+ Global Fixed Income (Bonds, etc) - $105t+ Global Equities (Stocks) - ~$100t Bank Balance sheets (Loans) - $98t Private Equity, Private Credit, Alts - $13t-$20t
It strikes me as being very similar to someone putting a profile up on Tinder when they are already in a committed relationship. It provides a steady supply of recruits to threaten and replace their current workers/partner with. Both are equally narcissistic, greedy, and unethical actions to take because a good employer or partner will never have to resort to that. When what you have to offer is competitive and speaks for itself, you don't need a steady stream of applicants to fill the role of those you mistreat and burn out.
Ghost postings enable employers to find the lowest compensation package a candidate will take for a particular role. I can't make what I did ten years ago in Cybersecurity even though I am vastly more experienced and educated at this point. Training is yet another cost passed down to the individual.
Under the current system, that would also increase benefits a ton. There isn’t actually a benefit cap, only a tax cap. We could add a fourth “bend” which is what a lot of experts reccomend. Mind you, capital gains is not taxed by social security. So the billionaires would be mostly untouched.
unfortunately the system is working as intended in favor of the top few percentages. Professor Michael Hartmann worked out that in the past 20 years that 99,99% of the rules and regulations worked in favor of the top people, and that only a few benefits the rest. Its quite shocking, but nobody does anything. People do not understand that slavery is still there, its just very well hidden.
Started my 401k - lost to medical cost when we faced a period without insurance, and my child needed surgery. Re-started my 401k - lost to medical cost when my husband, who was on my insurance at $500+ a mo 16 years ago., BUT he had a "pre-existing" ....( pre-Obama Care/ACA btw I lost him to cancer and my son to gun violence by stranger.) So......Re-re-started my 401k/IRA again - still saving....have to work at least until I am 70 (min). Biggest crime? Corporations of America who go bankrupt strategically (and they do.) to avoid pensions, unions, lawsuit outcomes for being horrible....sigh. I want change, but our politics are directly linked to big money. So - not holding breath.
As a 20 something person, I have accepted that I will never receive any social security that I am paying in to and will probably have to sue the government to get any of that money back.
we should at least remove the soc sec cap. I have to pay ss tax on every penny I earn, but high earners only pay on a small fraction of their incomes. How is that fair?
Social Security SHOULD be designed as a direct tax on the rich and guaranteed safety net for the people at the bottom. So that the people responsible for creating rich people in the first place at least have something to look forward too at some point before they die. Otherwise there's really no point to living is there?
Great video, one that folks really need to watch. I' m 50, retired a while at 45. 1 have 35% of my capital invstments in an IRA. 25% in index funds, and the balance spread across other investment accts. in cumulative of over $ 5M. I receive income from my rental properties too. Zero debt and all is going accordingly. My financial consultant has been patient and has done a wonderful job for me throughout the years.
Financial planning and retirement strategies are crucial, especially in today's economic climate. With global economic fluctuations and uncertainties, it's essential to have a solid plan in place to protect your financial future.
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skills and knowledge.
Please could you guide me on how to get in touch with your advisor? My funds are being eroded by inflation and I seek a more lucrative investment strategy to effectively utilize before I consider retirement.
I just turned 44 and awfully late to investing with barely any portfolio except my 400k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I'm getting worried about retirement, my intention is to retire at How best do I maximize my savings of over $220k
Because no one is putting enough in it to start with. Some people don't even get their full match.... You need to be saving 10% minimum in your life 20s if you're 30 or older 15% or even more
@@midwestrustwarrior I've been maxing out my 401k since I started my career by being relatively frugal and not spending too much money on stupid shit (something many Americans seem to struggle with). I've invested my contributions in S&P500 funds and let it ride. As of now my total balance is $682,946,26 at age 34. If I include my brokerage account and a few other accounts, my net worth is just above $1.5M. Self-directed retirement savings vehicles are great for people who understand how money works, and bad for everyone else.
I’ve somehow found myself in a relatively good financial position and yet I still can’t retire until I qualify for Medicare. Healthcare is just too much of a wildcard to risk going without group coverage. Individual plans are just too easily exploited by insurance companies.
As you pointed out, the situation for middle-class Americans is concerning. Even for those who’ve worked hard their entire lives, homeownership and savings are becoming less attainable, which limits options for a secure retirement. It’s a sobering reminder of how crucial it is to think ahead and explore alternatives while we still have the energy and resources to do so. Hopefully, conversations like these can inspire more people to rethink their approach and take action sooner rather than later.
Retiring comfortably in the US these days is almost impossible, the cost of living keeps going up, up and up!! Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
I completely agree; I am 60 years old, recently retired, and have approximately $1,350,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, having a portfolio-advisor for investing is genius! What I figured out years back what that with proper guidance, we can predict some of these situations and take advantage of them. Have you considered seeking the help of a financial advisor, the are vital towards retirement planning.
I'm guided by “Annette Christine Conte ” an experienced coach with extensive financial market knowledge. While you can consider other options, her strategy has yielded positive results for me. She offers valuable insights, including entry and exit points for the securities I concentrate on.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
No Benny boy, we must tax the ultra wealthy and their assets. They are not going to be able to move these assets so no worry there. We must increase the social security tax bracket as well. It's literally the only solution to keep social security healthy. Don't let any weathly person convince you otherwise.
Remove the upper cap on social security contributions. Educate people on the importance of funding their 401ks. Bring back trade schools. Not everyone should go to college.
@@divesaildivesss Not everyone gets 401ks or have the funds to fund one. But 100% increase SS caps, but also tax the wealthy. If you want the govt to stop printing money, the only way to close the wealth inequality gap is to tax it back. There is absolutely no other way to do it.
I hope we all know that it doesn't matter who is in the 'top job' because this is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. My husband and I will be retiring in the next two years n another country. We are absolutely worried that SS! will no longer be funded. we'll have to rely on his pension, a 403 (b) and a very prolific Investment account with Stephanie Janis Stiefel my FA. Our national debt is bloating and expanding every month. Our government needs to get spending under control and cut the federal budget.
I know this lady you just mentioned. Stephanie Janis Stiefel is a portfolio manager and investment advisor. She gained recognition as an employee of neuberger berman; a renowned investor she is. Stephanie Janis Stiefel has demonstrated expertise in investment strategies and has been involved in managing portfolios and providing guidance to clients.
I’m planning on moving to Thailand in the next 5 years if trump’s government doesn’t do anything with the high prices of groceries and taxes What about you??
You dont have to buy ice cream. But you do have to buy nutritious foods which are 50 percent higher than they were 5 years ago along with rent and gas. Its ridiculous
@@bartdoo5757 So Biden is responsible for the steady decline in purchasing power over the past 50 years? I agree. But there are also so many more to blame.
@@bartdoo5757This has been a problem long before Biden. Regardless of who’s at fault, I don’t see how it’s productive to keep blaming presidents when the problem is corporations. Try again.
The problem with pensions (1970s and before) was that the contributed money was in the hands of the company, and if they went broke or mismanaged the funds, there was reduced/no pension. Of course, if they had been required to pay their/your contributions to the government, then it would have been safer. Then came the 401K with employer and employee contributions, which kind of got over the problem with companies messing with retirement funds, BUT it was less money and typical individuals managed their money less optimally. It we circle back to a system where employer/employee retirement was paid into an untouchable government account, then that would be about as good as it gets. You know, kinda like Social Security. And now business wants to end that so they no longer have to pay ANYTHING towards your retirement.
The risk of having a company going bankrupt and not paying out on pensions is theoretically supposed to be addressed by the Pension Benefit Guarantee Corporation which is a government fund meant to backstop these pensions. The problem is that the courts have determined that corporations are people and money is free speech. So our government has effectively been captured by corporations and billionaires. These people pull the strings on our government and prevent them from being a more effective advocate for the average American.
Gig workers are even more screwed because they don't even get social security. They fall under the same category as farmers and agricultural workers. Farmers have never received social security. This is why Republicans are very popular in rural states. The farmers don't care if Republicans cut social security because they never got to collect it anyway. In fact they see getting rid of social security as a good thing because it will lower their taxes and make it easier to save for their own retirements. If Democrats wanted to change to rural state dynamic they would allow farmers to collect social security too. After they start getting social security they won't want to get rid of it and the Republicans will lose power over the rural red states. The fact that they never endorsed such a policy to expand social security to farmers tells us there is something rotten about the party.
The whole employer provided pension is overstated by people that were never covered by a pension. I was born on 1959 and only had two employers in my career that had pensions. The first one, I didn’t stay long enough to vest, which means no pension benefit. The other pension was terminated when the employer went bankrupt. Many people covered by pension had the same outcomes. Vesting periods had 10 year vesting period, at a time that the average stay at an employer was seven years. So later when 401k plans came along, I was able to build a retirement portfolio of $3 million, despite never earning more than $100,000 in a year. I retired at 62yo and still haven’t started collecting social security.
I worked for a union for 29 years, I made good pay, and great benefits, but our company, Sumitomo North American tire closed their doors on us on 11/4/24. No notice, or anything. I’m for unions, but I think those jobs are a dying breed, and these corporations will do anything in their power, not to have their workforce unionize. I now have to go look for another job, and know it won’t be anywhere near what I made before. I fear for my children. God bless everyone, take care
@ thank you, and yes, companies make me sick. As an employee, I would totally be willing to work with companies, that if struggling, wouldn’t mind taking cuts to help. But our company made record profits this year in the tire manufacturing market. And treated us with no dignity. But god bless u, and your family, happy new year
So CEO’s income can be deceiving. They may only make a small yearly salary on purpose and their real money comes form their shares that they get loans from banks and do ‘buy, borrow, die.’
yeah we need to stop depending on income taxes or even capital gains taxes. even if they were insanely high, they would be still be insanely wealthy. nothing will change while we allow individuals to hoard this much wealth, it gives them too much power and it's too easy to use it for evil.
Mid-30s Millenial here as well. My collective 401k balances recently topped $680k and my net worth is in excess of $1.5M. Saving money and investing in S&P500 funds sure works wonders!
Teacher from Germany here: Government tenured professionals such as teachers, police, etc here in Germany get pensions, close to 80 percent of our last paycheck FOR LIFE after 40 years of service plus very cheap health insurance, also for life. Also long term care insurance.... But we are just crazy socialists over here, I am sure the US is as always the best in everything.... /s
Yey! Happy for you. You should be aware however that much of Europe’s socialist success is on the backs of Americans. Better budgeting based off of the capitalist business cycle, to be fair, however you guys do not have to deal with entirely subsidizing and maintaining the entire world order… its like your parents handle all the bills, but can never treat themselves, so that you can can use your earnings on fun stuff. Are you really paying for your new toy when mommy and daddy made sure to handle your rent?
In the US, the govt is constantly feeding us the idea that socialism is super bad. I and a few others know it is not, but they really shove the individualistic mindset down your throat here. If you don't succeed, it is your fault. Not the system or lack of education.
@@helpneeded1097join the military you get a pension. Join federal service you also get a pension. Join national guard. Join a company that has a pension. Save in your own 401k. I can think of a dozen options you have off the top of my head.
The US has the exact same system with fewer years needed to qualify. My mother was a teacher and retired making over 100k annually. She will get 90k per year in retirement for life. If she dies early the benefits will transfer to my father. This is normal for all teachers in NY.
Early in capitalism the workers were at the mercy of capitalists, and they lived short brutal lives. The 1940s brought in social democracy and strong trade unions and so the working class prospered and even called themselves middle class. Then capitalists fought back and in 1980 persuaded the boomers to vote to tear down social democracy and unions and reassert raw capitalism. The consequence was inevitable (as planned by conservatives) and again the 'middle class' have been returned to the short brutal lives of the 19th century working class.
What the US workers got was only in small part due to their strikes and protests, but mostly a concession by the capitalists that thought it was in their best interest, so the workers now have no conscience and no social cohesion, becoming easy prey, sheep to be mulled and milked until they're too old, just good for a.stew. The improvements which were so prominent from the '30s to the '50s were in part due to the idea that reducing inequality (having a richer population) would make the country more stable, now we would say "resilient", and would be a driver for growth, but it was also to make the capitalist system look more desirable for the workers than socialism. In the '80s they thought the dangerous times were over as the CCCP was also a lesser threat, and also that they could make money anyway with globalization by moving production to cheaper places and manipulating the financial market, Now they just think the workers can just go back to the slums they used to belong to. 😢
@@frances4797 actually, no. Trickle down economy works, as usually. Problem is, that with wholesale *wealth destruction* at the top, guess what it is that trickles down? Who said it is mistically ordained that only wealth is created at the top and only this can trickle down?
49% don’t invest money in a 401k? Not even 1%? Insane. I do 28% a check and max out my contributions yearly. Live within your means, stop renting, get a decent job and stick with it instead of jumping between the best entry level pay rate. Oh and social security is absolutely a scam, I will NEVER get the money I put into it back out of it, let alone if I was able to personally invest my own money the way I wanted.
More like the US took advantage of the time when the only other industrialized area in the world exploded itself and was the source of the majority of earth's industry for a few decades. We're on the way down now, it's clear as day. Other rising nations are filling in the gaps we left.
It's not like the democrats aren't bankrolled by the same corporations. Any majority rules voting system will tend towards 2 parties if left for any length of time because with 3 or more parties, the parties closest in outlook will split the vote and give the win to the minority (Usually single issue) party, so the other parties have to merge to survive. By the time they're down to 2 parties neither of them need to represent voters at all to still have enough votes to win elections.
That's because we have the illusion of choice (when voting). Just look at how much money is needed to run for public office. We need to standardize money and spenditures in politics (just like cars are standardized in NASCAR).
He is expert Alvarez Harry Flectcher one of the most trusted worthy and reliable financial advisor ever. He approached trading in a completely unique way. He just seem to have an innante understanding of this trading world
"Labor was the first price, the original purchase-money that was paid for all things. It was not by gold or by silver, but by labor, that all wealth of the world was originally purchased." - Adam Smith
Young people see how hard the elderly got screwed. worked their entire life, still living in poverty. We see the house prices, rent increases, grocery prices. And then everyone wonders why young people have given up. All of this is deliberate. We are the squeezed generation because increased automation and productivity means that human beings are not needed as workers anymore. We are being phased out.
I get what you’re saying but you’re gonna need multiple millions in net worth to retire as an ordinary person, especially if you’re young. My feeling is that there needs to be a cap on wealth relative to the median. There are people who are 100x more valuable to the society than the average person, and that does need to be incentivized. However, the current system rewards people who may not do anything of real value, they just start with a lot of money.
I'm from an immigrant family (legal), I'm curious has anyone in this comments section ever lived in another country under socialism, communism etc? I wish we had programs like schools where we could send people off to live in Venezuela, Korea, Russia, etc, for a few years.
@@MK-ti2oo or simply show the conditions of the modern countries? Sadly that can never happen due to how the world is managed. Can't hurt the feelings of Leaders or else you'll be another Victim of their ego
Enjoy the nice feelings, unions are awesome. There’re our only hope. Retired three years ago from a union at 55 with a pension and annuity. God is great.
The 401K works great for people on a paycheck that is high enough to allow for the purchase of a good standard of living and a large 401K payment. The 401K is ineffective for people whose paycheck is insufficient to allow for a useful 401K payment. For some of these people, this is self-inflicted by the endless purchasing of stuff and the use of consumer loans, which will keep them poor and the corporations rich. However, for most of the working poor, the problem is that they will never make enough money to pay their bills and have enough left to finance a 401K. Other wealth destroyers like long-term illness, divorce, and business failures also make 401Ks ineffective.
It directly takes your money for nothing in return. You may not even see 65, let alone whatever the retirement age is once you get there. Let me invest my own money. Let me use it whenever I need it rather than keeping it locked up with the gov’t for 40+ years.
@@nickthompson1812 What you describe is feeding exactly the same monster that is the cause of the problem in the first place. Gambling your money on the stock market (Where pumping share values, which are imaginary money in the first place, is the reason for the relentless removal of pay and benefits from everyone except the top 0.1%) should not be the best option left to people who want to be able to afford to retire when they get into their 60's.
This is one thing I do agree with Dave Ramsey with, leveraging compounding interest by saving a mere 5% of income for 40 years is enough to retire, everyone should be able to do that if they live responsibly
@@bartdoo5757 Like it or not the stock market is where most money people refer to as 'investments' ends up. The stock market not giving extremely greedy people quite enough return, causing them to buy up property to rent it back to the people who would have been able to afford it if they hadn't interfered with the prices to turn poor people's rent into rich people's profit, is the reason property is also unaffordable for anyone trying to buy now and why rents have skyrocketed too since the remaining options are move somewhere cheaper (Usually not an option without a significant quality of life drop in terms of commute time or a lower paying job). In fact the only large scale investing that's not actively harmful to poor people is investing in startups, despite most of them failing, but that's not something anyone who wants the secure retirement that all the tax they pay for their entire working life can't seem to provide, but it would be an excellent use for all the spare money the extremely rich have. Strange how the US government can afford to spend trillions murdering people in other countries for made up reasons while their own citizens have to choose between accommodation, food and healthcare, because they can't afford all three.
This seemed pretty biased - it completely ignored the negatives of pensions and the positives of 401ks. A pension can be greatly reduced if the company goes out of business - you rely on a single company doing well for your entire life. Money in a 401k is portable - if you start to hate your job a 401k gives you far more freedom to change companies or careers without sacrificing what you've already worked for. Pensions typically have MUCH higher fees because they are paying outside firms to invest and manage the funds, the impact on your share is just hidden from you. Plus far more people have access to a 401k, 403b or 457 than ever had access to a pension. Pensions were rarely available to low income workers and iffy even for the middle class. I could go on. I'm not saying the system can't or shouldn't be improved but this video is far from honest.
While I agree that it's harder for families, I disagree with the whole "You gotta buy stuffies; you gotta buy ice cream." I grew up poor. I didn't get my first (and last) stuffy until I was ten (gifted by a relative), and ice cream was a rare treat. I'm not saying to go as extreme as we did, but don't sell out your golden years to give your kids all their wants. Because then you'll become a burden to them in your old age.
Raising the retirement age is NOT the answer! I remind the powers that be, we are NOT immortal! Many of us will checkout right after 65. In addition, retaining employment after 40 becomes difficult due to layoffs and ageism. 🤓
Neither my father nor either of his parents reached social security age. My mom died within a year of reaching it. Only maternal grandparents got anything near what they paid in. But that's what the government is counting on
I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I has spent same number of years in the civil service, she is investing through a wealth manager and myself through the 401k. We both still earning towards having our retirement.
This is true. I'm in my mid 40'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 her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $800,000 by investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky’’ for about three years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
The New Deal required a massive increase in corporate and high income taxes. Those taxes, that supported the country's social safety nets through the 20th century, have been chipped at since Reagan on. We need a New Tax Deal.
@@maximemeis2867 We need people like you to stop thinking that singular individuals are capable of making millions of dollars without exploiting the labor of others.
401Ks were originally created as a place for rich people to park their money and avoid taxes. It was never meant as a retirement savings vehicle, and it's a lousy one.
Trump is Reagan but way worse and he's listening to a right wing think tank also with horrible ideas for 99% of Americans but only benefit the 1%. Future generations will look back and wonder why we ruined our country and voted for him again when we know he was known for his tax cuts that only helped the rich when we know trickle down economics doesn't work
Because the other two options were a alzheimer's ridden pedophile and a laughing hyena with the intelligence of the hawk tuah girl. It was rigged from the start.
Owning a home is one of the only ways to get ahead, but it's almost impossible to purchase one when your rent goes up every single year. No company should be able to own a single family home.
Home ownership is over-rated now. Things are changing and before you know it, people won't want to buy houses because insurance companies will make home ownership as expensive (or more expensive) than renting. By the time people figure that out it will be too late to sell.
I'm loving my retirement so far! My wife and I worked hard to reach this point - we're both retired, debt-free, and fortunate to have over $3 million in net worth. We achieved this through a saving and investing lifestyle in the stock market, which now generates weekly income for us. And now, we get to enjoy the fruits of our labor! We're traveling, golfing, and spending quality time with the grandkids. We feel grateful to be living smart and frugal, making the most of our golden years.
Absolutely! I'm in the same boat. I just got back from a road trip across the country. It's amazing how much energy and freedom we have now. Make the most of it, because it won't last forever!
I'm a young dad and I'm really glad to hear your story - it inspires me! I'm still working, but I'm counting down the days until I can enjoy my retirement Years. Can you please share your tips? What's the key to achieving this milestone and making the most of your retirement years? Any tips would be greatly appreciated!
Building a successful retirement requires discipline and strategy. Our journey's key takeaways include starting early, living below our means, diversifying investments, creating multiple income streams, planning for taxes, prioritizing relationships, and maintaining an active and healthy lifestyle...
Additionally consult with a fiduciary advisor, who can help grow your funds, Create a personalized plan and better prepare you for a successful retirement. we are with Tracy Britt Cool Consulting a US-based fiduciary. Look her up if she meets your requirements.
< Additionally consult with a fiduciary adv isor, who can help grow your funds, Create a personalized plan and better prepare you for a successful retirement. we are with *Tracy Britt Cool Consulting* a US-based fiduciary.
Retirement? Lmao, we struggle to make it though a month of bills while we work. Survive without working lol nahh not for us slaves. Not to mention employees today are approximately 5x more productive than those older generations with higher pay & pensions.
Graduated college in 1982. Right when the big shift away from pensions was happening. My corporate employers did embrace 401ks, and of course IRAs were emerging. I was a finance guy with conservative parents, so I saved at every opportunity. Many did not have that mindset. I am a successful 401k retiree - so it is possible- but I completely understand how many are now in trouble.
Man, this video hits hard! Retirement did sound easier back then-no insane housing prices, no inflation rollercoaster, just vibes. Anyway, I’ve been hustling to stack $189k in my emergency fund, and I’m finally ready to dive into investments. But real talk, where’s the headstart button? ETFs? Real estate? Crypto? Someone hand me a financial crystal ball, please.
Props on saving $189k-that’s impressive! But don’t go all in without a solid plan. Honestly, I used to feel the same way until I worked with a financial advisor. They helped me map out goals, diversify, and avoid rookie mistakes. Highly recommend finding one; it’s a game-changer.
Okay, I’m in the same boat, but how do you even find a good financial advisor? Google reviews? Random Reddit threads? I need someone legit who won’t just pitch me overpriced mutual funds. Any tips would help-this DIY investing is giving me whiplash
There are a handful of CFAs. I've experimented with a few over the past years, but I've stuck with Linda Aretha Reeves for some years now, and her performance has been consistently impressive. She’s well-known in the field-look her up.
Just looked up Linda Aretha Reeves, and wow, she seems like exactly the kind of guidance I need for my portfolio. Thanks for the rec-feeling optimistic now!
I actually watched Linda Aretha Reeves speak at the Bloomberg Finance Summit four years ago-her presentation was incredible. Her insight into navigating volatile markets really stood out. Great recommendation!
People who say they can't save for retirement are wrong. They don't make saving for retirement a priority. They'll "invest" in an iPhone or the latest gaming system every few years, but won't put a mere $25/week ($100/mo) aside from ages 16-65 to retire as millionaires. This isn't taught in schools from an early age.This isn't a societal norm. It should be.
Oh the Republican one claiming everyone can live within their means even if companies are stifling people. Don’t buy that cell, even though majority of companies now require a cell. Don’t buy that company even through every company requires one. I earn more than enough and I can save but the majority do not get paid what I do and I don’t live in lala land where you do.
It pisses me off seeing how much social security is taken from me when I know there will likely be none left for me when my time comes. It's absolutely infuriating.
My Dad has a pension through Harley Davidson but that was because they have a union! Reagan was the worst thing to ever happen to this country when he busted unions and destroyed so many other things. We've never recovered. 401K matches are ok but many are very low percentages or have a deadline of how long you have to work there BEFORE they match you. Matches also rely on you having extra income to invest in the first place which most don't. There is no future, EAT THE RICH.
I have a pension which was frozen when I had 12 years with my employer. The 401k they offered did a 5% - 100% match and I have contributed 5 to 22% of my pay into it for the last 27 years. I also saved into a Roth IRA. Today at age 55 I have $925k in the 401k, and another $125k in the Roth IRA. The pension will provide me with $1k a month starting at age 67, plus $3250 in SS (or $2600 if they cut it by 20%.)
My 401k balance currently stands at $682,946.26 at age 34. I've achieved this by maxing it out every year and investing in S&P500 index funds. Please explain how I'm being scammed?
@@narbwow8168 You are an outlier. Where does your income fall compared to the average American? Do you have a family? Do you support a spouse? The statistics speak for themselves. 61% of Americans over 50 are concerned that they do not have enough for retirement. When I go to Walmart and other retail stores, I see people well beyond their years working. They are not doing it for the joy of working.
@@narbwow8168 Most Americans don't have a high enough salary to max it out as you suggest. Why should lower income people not be able to retire while you, which probably make well above 60k a year in order to max it out gets to retire? I am 31 and also have a net worth close to yours.
in 1990 average household income was around 64K. Based on inlfation - in 2024 that should be around 164K just to keep up with inflaltion. Current household income right now is around 80-85K. So toxic capitalism made it very hard to save and possibly retire. Person fault - maybe a little - but deck was stacked against people.
A worker with a pension gets to keep more money in their check and also has the company saving for their retirement. A worker with a 401K takes money from their own check to save and the company gets to keep more money. The system in place currently does not help anyone other then the company, like all changes in my lifetime.
But a pension can fail. It happened in the 70's, and you would be stuck at a company until your retire, and you have to make sure that your company doesn't collapse.
I just am so depressed my family is so blind to everything and get angry at me for trying to tell them they're being endlessly abused by every company and rich they support
No one likes to be told that they’ve been duped. If they’re actively supporting, they’re not going to react well because you’re (in their eyes) telling them they’re stupid. Try a different and slower approach. Notice what makes them unhappy or irritated. Then casually bring up your thoughts without being preachy. Talk about the issues that hit close to home without jumping into “don’t trust these people!” Don’t just tell them, think it through with them and let them get there. Treat it like deprogramming from a cult.
Im 55 and have about $100k in my retirement fund... but that's nowhere near enough for me to be able to retire. The rich are strangling the middle class and the poor. Yet we keep voting these clowns into office.
I'm bascially in the same boat and in my 50s as well. Just got to a point where I have money left at the end of the month to put in savings (outside of 6% to 401k) after the bills are paid. Unfortunately I feel like my days are numbered at work, because ya gotta cut costs to help out those poor shareholders and why not get rid of the older folks.
I’m a sole proprietor, so is my wife. We pay more taxes than an employee and more for health insurance too. The system is rigged against us, in the supposed land of “free market” competition and individual enterprise.
The problem is you may become ill (hopefully not but cancer, arthritis, and chronic illness are more common with age) and will lose everything you worked your life for. Then corporate America wants you to not exist
Sorry to say, but it just confirms that politics, corporations and media have sedated the people. People should be angry and furious - hope we see more luigis. Don't feel bad for wanting to have a life. If politicians really think i.e. fast foods is bad for their people, then they would take the money back from the corporations that benefitted over years from it, but actually they don't want to do that.
I just turned 44 and feel like I’m late to the investing game, with barely any portfolio aside from my 401(k). I’ve managed to save over $220k in cash, but with inflation soaring yet again, I’m growing increasingly worried about retirement. My goal is to retire at 55, so how can I best maximize my savings to achieve this?
Retirement is more challenging now than it used to be. It’s all about finding the right balance between your risk tolerance and long-term goals. You might want to consult an advisor who can help you diversify your portfolio to reduce risk while aiming for growth.
I agree completely. I’ve always leaned on an advisor for guidance, especially after suffering a major portfolio loss in early 2020 during the COVID outbreak. Since then, I’ve made subsequent investments and am now semi-retired, working just 7.5 hours a week. I’m currently about 25% short of my $1 million retirement goal.
My CFA, Peter Dewitt Martin, is highly respected in his field. I recommend looking him up online-you’ll find all his credentials and details about his expertise. With many years of experience, he’s a great resource for navigating the complexities of the financial market.
We keep saying that it's a broken system but it's not. The people that made those systems think it works extremely well
👍🏾🎯💯🧠👏🏾
It's made for them not us.
Exactly the system is not broken it is working as intended.
Medicare and Social Security is literally wealth redistribution from young to the old. Other videos on this channel show people reaching that age wanting MORE medicare/medicaid and social security benefits. They then turn around and blame young people for being lazy and not having children as the reason for the programs failure.
"It's a big club, and you ain't in it"
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
The truth is, the role of an investment advisor can often be overlooked but should never be underestimated. After facing a significant portfolio loss in 2020 during the COVID pandemic while trying to manage my investments on my own, I decided to reach out to an investment advisor. At that time, I had about $126K left in my portfolio. Now, without having to lift a finger, I'm semi-retired, working only 7.5 hours a week, and I'm just 15% short of my $1 million retirement goal thanks to my subsequent investments.
Agreed, investing with the help of an advisor set me up for life. Retired with about $1.6m in stock portfolio only. I worked hard everyday as a teacher for 32 years, and my salary was over 100k annually. Supplementing my income with stocks and alternative investments helped me by far beat the retirement age of 65.
Money advice is subjective, what works for you may not work for someone else, but it's always better to plan. I'm quite lucky exposed to personal finance at an early age, started job 19, bought first home 28, got laid-off work 36 amid covid-outbreak, and at once I consulted an advisor to handle growing my finance. As of today, I'm only 25% short of my $1m goal after subsequent investments.
Mind if I ask you to recommend this particular coach you using their service?
"Whenever the government provides opportunities and privileges for rich people they call it ‘subsidies.’ When they do it for poor people they call it ‘welfare.’ The fact is that everybody in this country lives on welfare. Suburbia was built with federally subsidized credit. And highways that take our white brothers out to the suburbs were built with federally subsidized money to the tune of ninety percent. Everybody is on welfare in this country. The problem is that we all too often have socialism for the rich and rugged free enterprise capitalism for the poor. That’s the problem."
-Dr. Martin Luther King Jr.
100%
No the problem is that we let them print money with no restrictions.
@@Highside713 we need restrictions on who buys the politicians, not restrictions on what the politicians can do.
This comment should have the most likes and be in the first position in this video!
It's when he started talking this sht, they sht him.
“America is not a country. It’s a Big Business. Money and profit Trumps integrity, morals, and ethics, along with people’s lives and livelihoods. Your oppression is their profession.”
And the only law in America is money and power. We have a criminal traitor about to take office in violation of the constitution because bribes SCOTUS justices (unelected kings) wanted it that way.
@@slimhead666aw they did not attack our capitol today ?
Capitalism rewards capital. If you have it you're rewarded. If you don't have it, you better find some way to get it
Social security proves it. It’s a giant insurance plan that strips wealth from the lower classes. Let me invest my own money. Let me have access to my own money.
@@dustinDraig and taxes directly strip you of your wealth, yet some want increased taxes because they think the tax dollars will be used altruistically. 😂
The worst part is the people working hardest are getting the least remuneration for their efforts and then shamed in the media for not taking more hours, more work despite the poverty wages. 40% of people in work need state support. That’s a reflection of greed not poor work ethics by working people. This is being done by design, by greed.
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you, prevent inflation from eroding your savings, build generational wealth, and cultivate good habits and financial knowledge, you must be in the market.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate and stocks.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
I've always delegated my investment decisions to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.
I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
G.M. "We can't afford paying pensions to workers to remain competitive"
Also G.M. : "Here's a golden parachute for the CEO so he gets paid $30 million after leaving"
In 2010 Ford paid $13.2b for UAW/VEBA to assume health care liabilities. GM agreed to ~$31b of payments to VEBA prior to its bankruptcy and had to be renegotiated. Pension liabilities are titanic, and even states will run into the same problems that these older corporations did.
@@ManforSomeMarkets Every state in America gets 30+% of its budget from Federal dollars (source: ballotpedia). It's trivially simple to balance a state budget, it's just politically near impossible because they're all corrupt. Start enforcing the bribery laws with hard labor and term limit everyone and you'll have the problem solved in 10 years or less.
Also GM - we need a bailout, because we are a fail company that doesn't know how to profit. Clearly they CAN'T afford that pension, if they are begging for taxpayer money. Let this company fail, and someone else in the free market can come in and run the factories right. Why not Toyota ? They seem to have their act together, and make reliable cars, even with US workers !
Socialism for the rich, late stage capitalism for everyone else.
*gets bailed out by the government*
*Stops making economy cars and only makes big trucks no one can afford*
It's crazy that they can just keep raising rents when wages stay stagnant.
Ask yourself why wages are stagnant.
Except for the fact wages are not stagnant.
Rent goes up because property taxes goes up
9 minutes 57 seconds the bias comes out. We need a politician that just comes in and instead of writing a billion dollar check to Ukraine, write a billion dollar check to social security and make it a 401k type system of investment. Make it so 6.2% of my income for my entire life is put into an account for me to use in the future.
@ Rent goes up primarily because the particular property in question has more demand for it, generally speaking. Local governments are not exactly ordering increases in property taxes each month.
The high inflation is a significant reason why most retirees have sleepless nights. The increase in prices of everyday items puts them at risk of running out of money. As prices rise, the amount of money retirees can withdraw from their retirement savings also increases.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in stocks, which is pretty simple. On my portfolio, which has grown over 90% in a little over a year, my advisr chooses entry and exit orders
@@RobbieNixon-d1w How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
@@RobbieNixon-d1w this is awesome! can you please leave the info of your advsor here? i’m in dire need of financial advisory
Don't forget, gig work and 0 hour contracts and part-time work are inreasignly used by businesses to circumvent work benefits and insurance as well as pensions. Another way of keeping the young and the working-classes down.
This 10000% describes my job rn, and I work for the government!! I’m on contract, part-time, not permanent so no job certainty, no benefits, no sick days or paid vacation, you can opt into the pension but few part-timers do because it already takes a huge cut of our small pay cheques. They recently didn’t renew my colleagues contract so she’s jobless at the end of the month. We do the SAME work as the “permanent full-timers” who can do secondments and come back to their positions whenever they want and yet we are treated as disposable and anytime we protest they tell us “that’s what you signed up for”. Soon as my contract expires I’m out. May even quit sooner. Disgusting how they treat people who do an essential service for the citizens of our country…
@@plantmama7442 If it makes it any better, I'm in the same situation but in Sweden. It's not all it's cracked up to be over here either.
The worst is when your co-workers can't afford to stay at home when they get sick, so they end up infecting you. I think I've been sick every other week these last few months.
I was in such a situation for a while. I refused to work until I found something better. I worked on my health, my skills in the meantime and lived on almost nothing. I thought it was a horrible time in my life then but it was actually the time I remember most fondly.
I think that's okay. Work benefits were just a way to force employees to stay at the same company for longer. We shouldn't need them. You should just be able to make enough money to survive based on getting paid for the hours that you work.
And look at the guy whose pension disappeared because the company went under a year before he retired. We should not be beholden to corporations, they should be beholdened to their employees.
yep, because they get to skirt the FICA contribution.
"Its a big club and you ain't in it."
- George Carlin
“the vanishing pension that disappears the minute you go to collect it. And, now, they're coming for your Social Security, they want your fucking retirement money, they want it back, so they can give it to their criminal friends on Wall Street” - George Carlin
First they made money out of land.
Then they made money out of gold and diamonds.
Then they made money out of environment.
Finally, they made money out of their children's future.
Unless... someone in power read Dr. Seuss's The Lorax, cares about a whole lot, things will never change.
if u ain't part of the tribe. wake up
"The market can remain irrational longer than you can stay solvent"
One of my favorite stand up routines ever!
I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.
Things are a bit strange right now. Inflation is making the dollar weaker for buying things like basic needs, but it's getting stronger against other stuff. So, stuff like stocks, houses and precious metals aren't doing so great because folks are putting their money into banks for safety but I'm worried about my retirement savings losing value fast.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $400k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
Thanks for replying, You seem to know much, How did you go about it and can you recommend an advisor like yours?
‘’Aileen Gertrude Tippy” just check her out. It's possible to hire a skilled financial planner especially if you're not one yourself. I hired one after my retirement pension took a hit in April due to the crash.
I appreciate this tip. It was easy to find your coach's webpage by looking up her name online, She seems proficient considering her resume.
"Pensions are like smoking on an airplane, really only those born before 1960 got to experience them" lmao such a good quote
I guess I got lucky. I was born in 1961 and receive a pension.
I was born in 1980 and I have a pension and annuity that is part of my union negotiated contract. Union Ironworker
I was born in '81 and I remember people smoking on planes when I was a kid😂
BS, pension jobs are out there(grocery stores, nurses, teachers, police, firemen, carpenters....) if that is what is important to you just get one, you know what people born in 1960 did not have access to? The stock market, we had to already have money and go hire a stock broker if you wanted to invest. It is so easy to start investing in your future now, a few clicks on a computer and you can start investing with $10.
I got a pension and started at the company in 2009. I was the last person to get it before they switched to a 401K.
We don't live in a country. We live in an Economic Zone.
I hear the Gaza Strip is nice this time of year… if you think America is such a terrible pace to live in. Congo’s super nice too.
@@pewpewtactical5288No thank you. We plan on making America better. If you like Islam you should go there.
@@pewpewtactical5288we can make this country much greater than what it currently is. The reason people came here is because it used to be better than every other place in the world.
We live in an Oligarchical Cartel
@@pewpewtactical5288oh stop it, pew pew! Nobody needs your tangential, reductionist noise.
If Johnny makes $15 a month working 60 hours a week and his cost of living is $30 a month there is no way Johnny can save for retirement.
Johnny should have picked up some marketable skills. Johnny's poor life choices is nobody's problem, but Johnny.
@ give it some time, we are all Johnny
@@prim.an.propher1505 move to a smaller cheaper place and only buy a cheap cash car and if you can't afford that take a bus. Johnny can't afford a car yet. Still invest 25 a week in SP 500 no matter what. Beans and rice for meals. I've been there. I remember counting quarters for gas but still put 5% in my 401k because you always buy back time first. Or work till 90 years old.
Yeah that scenario isn’t happening
@ I find that those who have been Johnny in the past, often figure out how to avoid becoming Johnny again... or at least the smart ones.
Some will be perpetual Johnnies, and nothing can save them from their poor choices.
I'm for zero cap on Social Security tax. I pay this tax on every dollar I make. I see no reason billionaires should not have to do the same.
The only country that has a better system in which there is no cap or at least its a lot higher and the minimum retirement payment is a lot higher as well is Swiss.
then zero cap on what they get back
There is a cap on SS taxes because there is a cap on benefits. Are you proposing no benefit cap for high earners?
@@jerzsubbie of course, everyone is in favor of a solution that doesn’t impact them directly
There should be zero social security tax. I can do way better with it than the government.
As for thinking it’s unfair for the billionaires they pay 10,000x the tax you do. If your a family of four your share of the tax burden is $84k. Good luck paying your fair share.
One of the more insidious aspects of 401Ks is that it makes the interests of the working class more in line with that of the capitalists, even if it’s only for crumbs. This creates a major barrier for building solidarity. For example, I saw quite a few mentions of 401Ks and the stock market come up during the longshoremen strike, with many people rooting for the corporation. Despite being workers, people with 401Ks become materially vested in the defeat of their own class.
THIS.
The big lie of the 401K is that it makes the little man vested in the idea that every giant corporation has to keep growing infinitely.
If a giant corporation fails, the little man feels it.
It's a Ponzi scheme--everyone is made to invest more and more every month in the market regardless of whether there is a gain in productivity.
@@jimbomac2005index funds are balanced like that. If one company fails, another takes its place and still makes all those who buy in money. Not buying in is financial self destruction. There has yet to be a 20 year period the s&p500 has not made investors money.
@@jimbomac2005 same with the pension, if a company goes down, you might get something from PBGC, but most likely not the full amount, as well as pension funds invested into the same bonds/stocks.
What do you mean it’s a barrier for building solidarity? You just said it aligns workers with corporate interests. If we want everyone’s interests to be fulfilled, then having everyone’s best interest align in unison makes that goal more achievable.
The average social security check is $1827 a month. The worst part is 22% of Americans have less than $5k saved for retirement. Start investing now! Nobody is coming to save you
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
keep contributing! I'd suggest you consider financial advisory at this point in time, remember you are in for the long haul
I'm in line with having an advisor oversee my day-to-day investing cos, my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio has just 5X in barely 5 years, summing up nearly $1m after subsequent investments to date.
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
There are a few CFAs in existence. I've tried a few throughout the years, but for a few years now, I've remained with "Lauren Christine Campbell," and her performance has always been outstanding. Look her up; she's well-known in her industry.
I suggest we steal it back.
I concur!!! 🙋
Good luck lol
A lot of people are going to start thinking this until something happens
There are too many ignorant, working-class dupes who support the corrupt wealthy-class & their corrupt RW-politics.
All the major problems in the world, and most of the smaller problems, are caused by [a]the corrupt wealthy-class with their corrupt RW-politics, and by [b]the ignorant, working-class dupes who support the corrupt wealthy-class & their corrupt RW-politics.
That's antisemetic
If I don't get to collect social security, I want every penny I paid in back.
No. It belongs to Bezos and Musk now. You’ll never see a penny and that’s how they want it.
All that money is already gone. It all went to current beneficiaries! The “trust fund” is from when social security got more in taxes than it gave out.
@@General8675Right. Gen X here, with population decline fewer people will be putting in, in future, so cost of living will be higher and SS check, lower.
@@General8675 yup. The generation that needs it the least are getting full SS benefits.
There is not a single penny in Social Security. Everything you pay in has already been spent! The dollar is garbage, and since in 1971, we decided to tie the entire worlds currency to it, the entire world is FUCKED!
I just turned 44 and feel like I’m late to the investing game, with barely any portfolio aside from my 401(k). I’ve managed to save over $220k in cash, but with inflation soaring yet again, I’m growing increasingly worried about retirement. My goal is to retire at 55, so how can I best maximize my savings to achieve this?
Retirement is more challenging now than it used to be. It’s all about finding the right balance between your risk tolerance and long-term goals. You might want to consult an advisor who can help you diversify your portfolio to reduce risk while aiming for growth.
I agree completely. I’ve always leaned on an advisor for guidance, especially after suffering a major portfolio loss in early 2020 during the COVID outbreak. Since then, I’ve made subsequent investments and am now semi-retired, working just 7.5 hours a week. I’m currently about 25% short of my $1 million retirement goal.
Thanks for sharing your experience! I’ve been managing my portfolio on my own, but it hasn’t been working out well.
Do you have any recommendations for a reliable investment advisor? I could really use some help.
My CFA, Joseph Nick Cahill, is highly respected in his field. I recommend looking him up online-you’ll find all his credentials and details about his expertise. With many years of experience, he’s a great resource for navigating the complexities of the financial market.
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
We have been in a depression since 2008, the yield curve has already uninverted, global recession indicators are flashing alarm for well over a year, and absolutely nobody could pull us out of the hell coming regardless of party.
I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!
@@Michaelsun-z8k dont worry about the current value ever. just put money in, never take it out.
Investing is gambling. Our retirement shouldnt be a Casino. If I wanted to do that id go to Vegas.
I love how every time this channel gives solutions, its under the assumption that we have a healthy functioning government that isn't in opposition of implementing such changes. You might as well just flatly say we're fucked.
The channel is trying to envision what would be better. You're asking for a plan to get there. Both visions and plans are needed.
@@lipsum42 Cash for retirement is what's needed. Investing inside a 401k gets you more CASH because your taxes are lower!
Hey look - immigration and abortion are the major issues you have to worry about. While you are looking and worrying about it, I can rob you blind with terrible laws that work against your best interest as my profits pile up.
@@lipsum42He's still got an irrefutable point, neither one means much if the powers that be are arrayed against it, as they have proven repeatedly that they are. Unless we get even a plurality, let alone of majority, of lawmakers who are willing to say no to the special interests lining their pockets, even the best solutions are nothing but talk from the people actually experiencing the problems.
@@lipsum42Neither a vision nor a plan means much if those with the power to approve or implement it have no interest in doing so. As much as I love this channel for bringing awareness to these factors that have led us to this point, their proposed solutions of policy-tweaking and supporting bills seems kind of anemic. For every bill that becomes law and actually does something in the interests of the general public (and very few of those do), 10 more get passed quietly that put corporate and special interests miles further ahead of the rest of us. We need to look back at our history as a nation and see what brought effective change to the status quo of the robber barons of the past: the power to unionize, to strike, to vote, and to boycott en masse.
I love how videos on topics like this always say something along the lines of, "There's a solution! It's not in your power to enact it, though."
I pledge allegiance to the flag of the Corporate States of America and to the oligarchy for which it stands. One nation, under fraud; divisible, with liberty and justice for some.
Brilliant! 🎉🎉🎉
I’m stealing this
America is still great, and it will be greater. I'm upset by how badly politicians have mismanaged....well, everything. But the principles this country was founded on are still great. We just have to get back there. No more lobbying, no more special interest groups. No immunity for congress or law enforcement from the laws they hold the citizenry to. No more alphabet agencies making "rules" that put people in prison for adding a piece of plastic they bought legally to a firearm they bought legally. So many stupid laws and regulations designed to keep poor people poor and rich people richer, and everyone afraid. A government should fear it's people, not the other way around.
Justice for the rich*
The rich are one percent Of the population So it still stands
Retirement and pension responsibility was dumped onto the worker long ago for the sake of corporate profits
I'm glad I'm responsible for my retirement. Otherwise, I'd be relying on Social Security and maybe a pension.
Are people incapable of bearing responsibility? So many of the issues can be solved by people just making better choices. Like opting in to a 401k plan should be a no-brainer. If half of the people with that option don’t take it, why should we act as though they are helpless victims?
@@alecfranklin3827 I absolutely agree. I put around 20K in per year. My coworkers are buying boats, side by sides, rv campers, and other nonsense. I only have one close friend that is planning like me.
Why shouldn’t you be responsible for your finances?
@@jumpman366 Because a majority of Americans according to the video think the government does a better job with Social Security.
Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment
Nobody knows anything You need to create your own process, manage risk and stick to the plan, through thick or thin While also continuously learning from mistakes and improving.
Exactly why i enjoy market decisions being guided by a pro , seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience , been using a portfolio-coach for over 2years+ and I've netted over $3million in that time frame.
please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
I always worked 'low paying' jobs and when my (2) children were young, I became Mr Mom for a few years - It was almost as cheap as Daycare costs.
Due to circumstances I "had" to retire at 62. I now receive just under $1,200 a month. My rent went up (almost $400) last year to $1,150 a month. Thanks to Food Stamps I can barely survive. I am 72 years old.
Jesus. I'm sorry. Meanwhile and thankfully, Musk and Bezos can fly to space!
Jesus fucking Christ
Sorry to hear today we have IRA’s that helps in a massive way
Ohmygoodness, I hope your kids can help out! 😢❤
@@joshuagharis9017I always love to see how the lazy people hate the hard workers!
We don't live in a democracy, we live in an oligarchy that holds popularity contests for show.
See President of the Universe from Hitchikers Guide to the Galaxy
this was never a democracy, it was suppose to be a constitutional republic. yet every day politicians on the left and right violate our rights and nothing is being done to punished the officials violating our rights. big corporations rely on big government and they pit us against each other. Politician play on that race hate to hide the fact they are being bribed
By every metric we are socialist. Caste socialism, the worst of all worlds.
@@jon9103 Great. But you still need to save for retirement, so why not do it inside the 401k and cut your taxes?
@jon9103 Summed it up perfectly.
I’m retired and have a 401k now turned into an IRA. Worked just fine for me. Social Security was never intended to be your only source of income in retirement.
Shareholders don't see a problem with working until we die, because their job is sitting around, waiting for servants to bring them more money. 🤨
shareholders tend to also work (except for very very few finance company investors), just not in the same business as you
@@erkinalp90% of open shares are controlled by 10% of the population, your statement is objectively false. The stock market is literally a giant welfare program for the rich.
A lot of shareholders are people who have retired you know.
Yes, and they are the type to say people don't want to work anymore, complain about poor people, etc...while they make money doing nothing, they just gave money to what is most likely a morally bankrupt corporation. And they feel so proud of themselves.
stop being entitled. That's your issue. Not theirs
Private equity is twice as big as publicly traded funds now.
Older numbers from Apollo, but PE/PC/Alts are still relatively small compared to assets in public markets:
Global Real Estate - $130t+
Global Fixed Income (Bonds, etc) - $105t+
Global Equities (Stocks) - ~$100t
Bank Balance sheets (Loans) - $98t
Private Equity, Private Credit, Alts - $13t-$20t
And Private.
I have a 401K/IRA and never thought having a retirement account that goes down sometimes wasn't normal...
A possible topic: ghost job ads. How do companies profit from posting fake jobs?
It gives the current employees the notion the company is doing well and expanding and not laying people off.
It strikes me as being very similar to someone putting a profile up on Tinder when they are already in a committed relationship. It provides a steady supply of recruits to threaten and replace their current workers/partner with. Both are equally narcissistic, greedy, and unethical actions to take because a good employer or partner will never have to resort to that. When what you have to offer is competitive and speaks for itself, you don't need a steady stream of applicants to fill the role of those you mistreat and burn out.
Ghost postings enable employers to find the lowest compensation package a candidate will take for a particular role. I can't make what I did ten years ago in Cybersecurity even though I am vastly more experienced and educated at this point. Training is yet another cost passed down to the individual.
@@mw4507Not just employees. Investors. "Look! We're growing at a healthy rate, isn't that great, now buy our stock!"
@@adunski And 10 years ago you were making less than we were 15 years earlier.
How about lifting the Social Security cap? Billionaires need to pay into the system for the workers that made them their profits.
Bingo!
Under the current system, that would also increase benefits a ton. There isn’t actually a benefit cap, only a tax cap. We could add a fourth “bend” which is what a lot of experts reccomend.
Mind you, capital gains is not taxed by social security. So the billionaires would be mostly untouched.
unfortunately the system is working as intended in favor of the top few percentages.
Professor Michael Hartmann worked out that in the past 20 years that 99,99% of the rules and regulations worked in favor of the top people,
and that only a few benefits the rest. Its quite shocking, but nobody does anything. People do not understand that slavery is still there, its just very well hidden.
So you remove the cap from both pay in and pay outs how does that solve the problem?
@@aaronjjacques The pay out is progressive, it pays out at 3 "bends" so that those who are poor get a higher ROI
Started my 401k - lost to medical cost when we faced a period without insurance, and my child needed surgery. Re-started my 401k - lost to medical cost when my husband, who was on my insurance at $500+ a mo 16 years ago., BUT he had a "pre-existing" ....( pre-Obama Care/ACA btw I lost him to cancer and my son to gun violence by stranger.) So......Re-re-started my 401k/IRA again - still saving....have to work at least until I am 70 (min). Biggest crime? Corporations of America who go bankrupt strategically (and they do.) to avoid pensions, unions, lawsuit outcomes for being horrible....sigh. I want change, but our politics are directly linked to big money. So - not holding breath.
As a 20 something person, I have accepted that I will never receive any social security that I am paying in to and will probably have to sue the government to get any of that money back.
By 'sue' do you mean in a government courthouse?? I think what you want is a revolution.
Even when the social security trust fully depletes in 2035, benefits will still get paid out at 75%. You will get social security.
@@designthedayshave you seen Gen Alpha? No way the majority of them are going to be able to support millennials and Gen Z in retirement.
Absolutely not. Do not think that way, you are entitled to it.
@@katieandnick4113 Nor should I expect them to. I was born first so that's MY obligation to THEM.
hey Shapiro we can tax Bezos, Musk, Thiel and YOU. That will pay for Social Security easily.
Nah I don't wanna pay into that garbage.
we should at least remove the soc sec cap. I have to pay ss tax on every penny I earn, but high earners only pay on a small fraction of their incomes. How is that fair?
Shapiro is a tribe
@@brokenrecord3095 Exactly this.
Social Security SHOULD be designed as a direct tax on the rich and guaranteed safety net for the people at the bottom. So that the people responsible for creating rich people in the first place at least have something to look forward too at some point before they die. Otherwise there's really no point to living is there?
Great video, one that folks really need to watch. I' m 50, retired a while at 45. 1 have 35% of my capital invstments in an IRA. 25% in index funds, and the balance spread across other investment accts. in cumulative of over $ 5M. I receive income from my rental properties too. Zero debt and all is going accordingly. My financial consultant has been patient and has done a wonderful job for me throughout the years.
Financial planning and retirement strategies are crucial, especially in today's economic climate. With global economic fluctuations and uncertainties, it's essential to have a solid plan in place to protect your financial future.
Consulting with a financial advisor can provide personalized insights and help align your investment strategy with your retirement goals.
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skills and knowledge.
Please could you guide me on how to get in touch with your advisor? My funds are being eroded by inflation and I seek a more lucrative investment strategy to effectively utilize before I consider retirement.
I just turned 44 and awfully late to investing with barely any portfolio except my 400k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I'm getting worried about retirement, my intention is to retire at How best do I maximize my savings of over $220k
Remember: no generation has retired on the 401k plan. Things are gonna be horrific as the first gen of 401k workers reach retirement age.
Yeah, it was never intended as a retirement plan🤦♀️
This is a solid point! I feel some fuckery going on in this system.
Gen X is about to get a rude awakening
Because no one is putting enough in it to start with. Some people don't even get their full match.... You need to be saving 10% minimum in your life 20s if you're 30 or older 15% or even more
@@midwestrustwarrior I've been maxing out my 401k since I started my career by being relatively frugal and not spending too much money on stupid shit (something many Americans seem to struggle with). I've invested my contributions in S&P500 funds and let it ride. As of now my total balance is $682,946,26 at age 34. If I include my brokerage account and a few other accounts, my net worth is just above $1.5M. Self-directed retirement savings vehicles are great for people who understand how money works, and bad for everyone else.
I’ve somehow found myself in a relatively good financial position and yet I still can’t retire until I qualify for Medicare. Healthcare is just too much of a wildcard to risk going without group coverage. Individual plans are just too easily exploited by insurance companies.
So smart!
As you pointed out, the situation for middle-class Americans is concerning. Even for those who’ve worked hard their entire lives, homeownership and savings are becoming less attainable, which limits options for a secure retirement. It’s a sobering reminder of how crucial it is to think ahead and explore alternatives while we still have the energy and resources to do so. Hopefully, conversations like these can inspire more people to rethink their approach and take action sooner rather than later.
Retiring comfortably in the US these days is almost impossible, the cost of living keeps going up, up and up!! Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
I completely agree; I am 60 years old, recently retired, and have approximately $1,350,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, having a portfolio-advisor for investing is genius! What I figured out years back what that with proper guidance, we can predict some of these situations and take advantage of them. Have you considered seeking the help of a financial advisor, the are vital towards retirement planning.
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
I'm guided by “Annette Christine Conte ” an experienced coach with extensive financial market knowledge. While you can consider other options, her strategy has yielded positive results for me. She offers valuable insights, including entry and exit points for the securities I concentrate on.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
No Benny boy, we must tax the ultra wealthy and their assets. They are not going to be able to move these assets so no worry there. We must increase the social security tax bracket as well. It's literally the only solution to keep social security healthy. Don't let any weathly person convince you otherwise.
move to Cuba
@ what a stupid comment
Remove the upper cap on social security contributions. Educate people on the importance of funding their 401ks. Bring back trade schools. Not everyone should go to college.
@@divesaildivesss Not everyone gets 401ks or have the funds to fund one.
But 100% increase SS caps, but also tax the wealthy. If you want the govt to stop printing money, the only way to close the wealth inequality gap is to tax it back. There is absolutely no other way to do it.
Scrap the cap on SS and that will help, you could also raise the company participation from 3% to 6%, that would pretty much cover it.
I hope we all know that it doesn't matter who is in the 'top job' because this is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. My husband and I will be retiring in the next two years n another country. We are absolutely worried that SS! will no longer be funded. we'll have to rely on his pension, a 403 (b) and a very prolific Investment account with Stephanie Janis Stiefel my FA. Our national debt is bloating and expanding every month. Our government needs to get spending under control and cut the federal budget.
I know this lady you just mentioned. Stephanie Janis Stiefel is a portfolio manager and investment advisor. She gained recognition as an employee of neuberger berman; a renowned investor she is. Stephanie Janis Stiefel has demonstrated expertise in investment strategies and has been involved in managing portfolios and providing guidance to clients.
I’m planning on moving to Thailand in the next 5 years if trump’s government doesn’t do anything with the high prices of groceries and taxes
What about you??
Been debt free for two years thanks to Stephanie Janis Stiefel. So sad to see my friends in their 40s with car loans, mortgages and credit card debt.
My sister lives in Aussie. They have good healthcare better than America. I am also moving there after I retire.
yaxelburone How can i reach Stephanie if you don't mind me asking?
You dont have to buy ice cream. But you do have to buy nutritious foods which are 50 percent higher than they were 5 years ago along with rent and gas. Its ridiculous
Bidenomics.
Its both parties @@bartdoo5757
@@bartdoo5757 So Biden is responsible for the steady decline in purchasing power over the past 50 years? I agree. But there are also so many more to blame.
@@bartdoo5757This has been a problem long before Biden. Regardless of who’s at fault, I don’t see how it’s productive to keep blaming presidents when the problem is corporations. Try again.
@SenkaZver What do both parties want?
The problem with pensions (1970s and before) was that the contributed money was in the hands of the company, and if they went broke or mismanaged the funds, there was reduced/no pension. Of course, if they had been required to pay their/your contributions to the government, then it would have been safer. Then came the 401K with employer and employee contributions, which kind of got over the problem with companies messing with retirement funds, BUT it was less money and typical individuals managed their money less optimally. It we circle back to a system where employer/employee retirement was paid into an untouchable government account, then that would be about as good as it gets. You know, kinda like Social Security. And now business wants to end that so they no longer have to pay ANYTHING towards your retirement.
The risk of having a company going bankrupt and not paying out on pensions is theoretically supposed to be addressed by the Pension Benefit Guarantee Corporation which is a government fund meant to backstop these pensions.
The problem is that the courts have determined that corporations are people and money is free speech. So our government has effectively been captured by corporations and billionaires. These people pull the strings on our government and prevent them from being a more effective advocate for the average American.
Life expectancy in the U.S. continues to decrease. When our future descendants live short miserable lives, the cost of retirement won't be a problem.
Well, then they'll be able to drop the retirement age back down thanks to the vapey obesies.
Safe to say: "we're fucked."
For now. But ONLY for now. We can make and/or force change.
Good question as to what will remove the perverse loyalty to shareholders instead of employees.
You are the majority...
Gig workers are even more screwed because they don't even get social security. They fall under the same category as farmers and agricultural workers. Farmers have never received social security. This is why Republicans are very popular in rural states. The farmers don't care if Republicans cut social security because they never got to collect it anyway. In fact they see getting rid of social security as a good thing because it will lower their taxes and make it easier to save for their own retirements. If Democrats wanted to change to rural state dynamic they would allow farmers to collect social security too. After they start getting social security they won't want to get rid of it and the Republicans will lose power over the rural red states. The fact that they never endorsed such a policy to expand social security to farmers tells us there is something rotten about the party.
So swing for the fences then.
The whole employer provided pension is overstated by people that were never covered by a pension.
I was born on 1959 and only had two employers in my career that had pensions. The first one, I didn’t stay long enough to vest, which means no pension benefit. The other pension was terminated when the employer went bankrupt. Many people covered by pension had the same outcomes. Vesting periods had 10 year vesting period, at a time that the average stay at an employer was seven years.
So later when 401k plans came along, I was able to build a retirement portfolio of $3 million, despite never earning more than $100,000 in a year. I retired at 62yo and still haven’t started collecting social security.
Inflation and fraud is why we can’t afford social security anymore
Should take a page from the Aussies and invest it
I'm with you. Why put your fate into someone else's hands?
I worked for a union for 29 years, I made good pay, and great benefits, but our company, Sumitomo North American tire closed their doors on us on 11/4/24. No notice, or anything. I’m for unions, but I think those jobs are a dying breed, and these corporations will do anything in their power, not to have their workforce unionize. I now have to go look for another job, and know it won’t be anywhere near what I made before. I fear for my children. God bless everyone, take care
Good luck with your future endeavors mate. Agreed. It’s sad and inhumane how workers are treated as disposable pawns.
@ thank you, and yes, companies make me sick. As an employee, I would totally be willing to work with companies, that if struggling, wouldn’t mind taking cuts to help. But our company made record profits this year in the tire manufacturing market. And treated us with no dignity. But god bless u, and your family, happy new year
So CEO’s income can be deceiving. They may only make a small yearly salary on purpose and their real money comes form their shares that they get loans from banks and do ‘buy, borrow, die.’
True.
Thank Clinton.He capped pay at one million.So stock bonuses got bigger
They also get huuuge bonuses.
yeah we need to stop depending on income taxes or even capital gains taxes. even if they were insanely high, they would be still be insanely wealthy. nothing will change while we allow individuals to hoard this much wealth, it gives them too much power and it's too easy to use it for evil.
@@eh3477 a bonus is just a form of performance-based pay, the question is what is the performance indicator behind the bonus
Mid-30s Millennial here. I call it the .38 Special Retirement Plan.
exactly. that's how i feel
Only if it's a Luigi
Mid-30s Millenial here as well. My collective 401k balances recently topped $680k and my net worth is in excess of $1.5M. Saving money and investing in S&P500 funds sure works wonders!
Me too bro.
Godspeed, homie.
🫡🔫
@narbwow8168 me too, 32 years old at 875k. In a few years will cross the technical millionaire status
Teacher from Germany here: Government tenured professionals such as teachers, police, etc here in Germany get pensions, close to 80 percent of our last paycheck FOR LIFE after 40 years of service plus very cheap health insurance, also for life. Also long term care insurance.... But we are just crazy socialists over here, I am sure the US is as always the best in everything.... /s
Yey! Happy for you. You should be aware however that much of Europe’s socialist success is on the backs of Americans. Better budgeting based off of the capitalist business cycle, to be fair, however you guys do not have to deal with entirely subsidizing and maintaining the entire world order… its like your parents handle all the bills, but can never treat themselves, so that you can can use your earnings on fun stuff. Are you really paying for your new toy when mommy and daddy made sure to handle your rent?
In the US, the govt is constantly feeding us the idea that socialism is super bad. I and a few others know it is not, but they really shove the individualistic mindset down your throat here. If you don't succeed, it is your fault. Not the system or lack of education.
TAKE ME PLEASE PLEASE, getting an engineering degree and learning German so I can hopefully one day immigrate to your beautiful country
@@helpneeded1097join the military you get a pension. Join federal service you also get a pension. Join national guard.
Join a company that has a pension. Save in your own 401k.
I can think of a dozen options you have off the top of my head.
The US has the exact same system with fewer years needed to qualify. My mother was a teacher and retired making over 100k annually. She will get 90k per year in retirement for life. If she dies early the benefits will transfer to my father. This is normal for all teachers in NY.
Early in capitalism the workers were at the mercy of capitalists, and they lived short brutal lives. The 1940s brought in social democracy and strong trade unions and so the working class prospered and even called themselves middle class. Then capitalists fought back and in 1980 persuaded the boomers to vote to tear down social democracy and unions and reassert raw capitalism. The consequence was inevitable (as planned by conservatives) and again the 'middle class' have been returned to the short brutal lives of the 19th century working class.
What the US workers got was only in small part due to their strikes and protests, but mostly a concession by the capitalists that thought it was in their best interest, so the workers now have no conscience and no social cohesion, becoming easy prey, sheep to be mulled and milked until they're too old, just good for a.stew.
The improvements which were so prominent from the '30s to the '50s were in part due to the idea that reducing inequality (having a richer population) would make the country more stable, now we would say "resilient", and would be a driver for growth, but it was also to make the capitalist system look more desirable for the workers than socialism.
In the '80s they thought the dangerous times were over as the CCCP was also a lesser threat, and also that they could make money anyway with globalization by moving production to cheaper places and manipulating the financial market,
Now they just think the workers can just go back to the slums they used to belong to. 😢
Oversimplification, inaccuracies.
@@VelvetJazz please expand
@@VelvetJazz Nah, it might be simplified, but it's correct.
Ronnie Reagan uugh. Not the greatest president. The beginning of where we are now.
Right??! "Trickle down" 👇 must've dried up before it reached us down here at the bottom 😒
@@frances4797Oh its trickling. Its kinda warm and yellow dont you feel it?
Trickle down economics is a fraud.
@@frances4797 actually, no. Trickle down economy works, as usually. Problem is, that with wholesale *wealth destruction* at the top, guess what it is that trickles down? Who said it is mistically ordained that only wealth is created at the top and only this can trickle down?
@@frances4797 wealth does trickle down. down the pockets of the rich 🤑💸
49% don’t invest money in a 401k? Not even 1%? Insane. I do 28% a check and max out my contributions yearly. Live within your means, stop renting, get a decent job and stick with it instead of jumping between the best entry level pay rate. Oh and social security is absolutely a scam, I will NEVER get the money I put into it back out of it, let alone if I was able to personally invest my own money the way I wanted.
They didn't steal your retirement, they stole your salary
100% accurate!
More like the US took advantage of the time when the only other industrialized area in the world exploded itself and was the source of the majority of earth's industry for a few decades. We're on the way down now, it's clear as day. Other rising nations are filling in the gaps we left.
Why not both?
Honestly both.
The people keep voting in politicians that prioritize companies over people
Vote left, vote right, politicians will always print money and dilute your savings to fund whatever agenda they want to push.
It's not like the democrats aren't bankrolled by the same corporations. Any majority rules voting system will tend towards 2 parties if left for any length of time because with 3 or more parties, the parties closest in outlook will split the vote and give the win to the minority (Usually single issue) party, so the other parties have to merge to survive. By the time they're down to 2 parties neither of them need to represent voters at all to still have enough votes to win elections.
That's because we have the illusion of choice (when voting).
Just look at how much money is needed to run for public office. We need to standardize money and spenditures in politics (just like cars are standardized in NASCAR).
@@peglorwe need the corporate money out of politics
@@peglorYou're a nitwit. BOTH parties have screwed you over for years!
I RECOMMENDED A PROFESSIONAL BROKER TO YOU GUYS SOME MONTHS AGO, CAN I GET SOME WHO INVESTED HIM HERE, PLEASE COMMENT BELOW
👋Hey thanks for the recommendation I did invested with him and it was amazing
🤦 I saw that recommendations but I didn't bother chatting him up
Same here I did invested with him and the returns are massive his Indeed a professional
Hello Who's the expert you guys are talking about
He is expert Alvarez Harry Flectcher one of the most trusted worthy and reliable financial advisor ever. He approached trading in a completely unique way. He just seem to have an innante understanding of this trading world
I see my future as living in my car for retirement. It’s a shame I have to think that way.
🙋 Right here with ya! You're not alone 😢
Amen i understand. Hell it might come sooner
Me too!
Plan B
im just not gonna live, I have no future
"Labor was the first price, the original purchase-money that was paid for all things. It was not by gold or by silver, but by labor, that all wealth of the world was originally purchased."
- Adam Smith
Young people see how hard the elderly got screwed. worked their entire life, still living in poverty.
We see the house prices, rent increases, grocery prices.
And then everyone wonders why young people have given up.
All of this is deliberate. We are the squeezed generation because increased automation and productivity means that human beings are not needed as workers anymore. We are being phased out.
NO MORE BILLIONAIRES!
No more multi-millionaires.
I get what you’re saying but you’re gonna need multiple millions in net worth to retire as an ordinary person, especially if you’re young. My feeling is that there needs to be a cap on wealth relative to the median. There are people who are 100x more valuable to the society than the average person, and that does need to be incentivized. However, the current system rewards people who may not do anything of real value, they just start with a lot of money.
Is economics a zero-sum game?
I'm from an immigrant family (legal), I'm curious has anyone in this comments section ever lived in another country under socialism, communism etc? I wish we had programs like schools where we could send people off to live in Venezuela, Korea, Russia, etc, for a few years.
@@MK-ti2oo or simply show the conditions of the modern countries? Sadly that can never happen due to how the world is managed. Can't hurt the feelings of Leaders or else you'll be another Victim of their ego
Feels nice to be one of the few who has a job in 2025 that pays alright and will give me a pension in 20 years. Thanks union.
You think you have a pension . Let’s see if the company is solvent by then.
Lol that's what you think..
unless you're like the dude in the video that lost it a year before he retired LOL pension ain't guaranteed
*if the company still exists
*and it hasn't been reduced to nothing via inflation
*and they havent found a legal loophole to get out of it
Enjoy the nice feelings, unions are awesome. There’re our only hope. Retired three years ago from a union at 55 with a pension and annuity. God is great.
The 401K works great for people on a paycheck that is high enough to allow for the purchase of a good standard of living and a large 401K payment.
The 401K is ineffective for people whose paycheck is insufficient to allow for a useful 401K payment. For some of these people, this is self-inflicted by the endless purchasing of stuff and the use of consumer loans, which will keep them poor and the corporations rich. However, for most of the working poor, the problem is that they will never make enough money to pay their bills and have enough left to finance a 401K.
Other wealth destroyers like long-term illness, divorce, and business failures also make 401Ks ineffective.
“The Republican Party has always been against social security.” Bingo!!!
It directly takes your money for nothing in return. You may not even see 65, let alone whatever the retirement age is once you get there. Let me invest my own money. Let me use it whenever I need it rather than keeping it locked up with the gov’t for 40+ years.
@@nickthompson1812 What you describe is feeding exactly the same monster that is the cause of the problem in the first place. Gambling your money on the stock market (Where pumping share values, which are imaginary money in the first place, is the reason for the relentless removal of pay and benefits from everyone except the top 0.1%) should not be the best option left to people who want to be able to afford to retire when they get into their 60's.
This is one thing I do agree with Dave Ramsey with, leveraging compounding interest by saving a mere 5% of income for 40 years is enough to retire, everyone should be able to do that if they live responsibly
@@peglor Nobody said you had to invest in the stock market.
@@bartdoo5757 Like it or not the stock market is where most money people refer to as 'investments' ends up. The stock market not giving extremely greedy people quite enough return, causing them to buy up property to rent it back to the people who would have been able to afford it if they hadn't interfered with the prices to turn poor people's rent into rich people's profit, is the reason property is also unaffordable for anyone trying to buy now and why rents have skyrocketed too since the remaining options are move somewhere cheaper (Usually not an option without a significant quality of life drop in terms of commute time or a lower paying job).
In fact the only large scale investing that's not actively harmful to poor people is investing in startups, despite most of them failing, but that's not something anyone who wants the secure retirement that all the tax they pay for their entire working life can't seem to provide, but it would be an excellent use for all the spare money the extremely rich have.
Strange how the US government can afford to spend trillions murdering people in other countries for made up reasons while their own citizens have to choose between accommodation, food and healthcare, because they can't afford all three.
This seemed pretty biased - it completely ignored the negatives of pensions and the positives of 401ks. A pension can be greatly reduced if the company goes out of business - you rely on a single company doing well for your entire life. Money in a 401k is portable - if you start to hate your job a 401k gives you far more freedom to change companies or careers without sacrificing what you've already worked for. Pensions typically have MUCH higher fees because they are paying outside firms to invest and manage the funds, the impact on your share is just hidden from you. Plus far more people have access to a 401k, 403b or 457 than ever had access to a pension. Pensions were rarely available to low income workers and iffy even for the middle class. I could go on.
I'm not saying the system can't or shouldn't be improved but this video is far from honest.
Glad this comment is here. This channel is full of populist rhetoric and it's contributing to the brainrot of a generation.
While I agree that it's harder for families, I disagree with the whole "You gotta buy stuffies; you gotta buy ice cream." I grew up poor. I didn't get my first (and last) stuffy until I was ten (gifted by a relative), and ice cream was a rare treat. I'm not saying to go as extreme as we did, but don't sell out your golden years to give your kids all their wants. Because then you'll become a burden to them in your old age.
Raising the retirement age is NOT the answer!
I remind the powers that be, we are NOT immortal!
Many of us will checkout right after 65.
In addition, retaining employment after 40 becomes difficult due to layoffs and ageism. 🤓
Neither my father nor either of his parents reached social security age. My mom died within a year of reaching it. Only maternal grandparents got anything near what they paid in. But that's what the government is counting on
"Privatize social security" the moment we do all hope is lost
social security is such a good deal that its supporters don't want to give people a choice to participate in it
I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I has spent same number of years in the civil service, she is investing through a wealth manager and myself through the 401k. We both still earning towards having our retirement.
This is true. I'm in my mid 40'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 her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $800,000 by investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky’’ for about three years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
The New Deal required a massive increase in corporate and high income taxes. Those taxes, that supported the country's social safety nets through the 20th century, have been chipped at since Reagan on.
We need a New Tax Deal.
We need people like you to stop thinking that they are entitled to the wealth produced by others
@@maximemeis2867 We need people like you to stop thinking that singular individuals are capable of making millions of dollars without exploiting the labor of others.
Taxes belong to everyone because we all pay them doofus@@maximemeis2867
george carlin warned us about it, we thought he was joking.
401Ks were originally created as a place for rich people to park their money and avoid taxes. It was never meant as a retirement savings vehicle, and it's a lousy one.
Why did we vote in a Billionaire and his crew, I feel it only get worse...
Trump is Reagan but way worse and he's listening to a right wing think tank also with horrible ideas for 99% of Americans but only benefit the 1%. Future generations will look back and wonder why we ruined our country and voted for him again when we know he was known for his tax cuts that only helped the rich when we know trickle down economics doesn't work
Because Elongated Muskrat bought the election that's why
Because the other two options were a alzheimer's ridden pedophile and a laughing hyena with the intelligence of the hawk tuah girl. It was rigged from the start.
Pick your poison. The government program social security is a far worse investment than a 401k.
Hatred, bigotry, and fear are mostly why people voted for him, again.
Owning a home is one of the only ways to get ahead, but it's almost impossible to purchase one when your rent goes up every single year. No company should be able to own a single family home.
Home ownership is over-rated now. Things are changing and before you know it, people won't want to buy houses because insurance companies will make home ownership as expensive (or more expensive) than renting. By the time people figure that out it will be too late to sell.
@@guestuser6150 you will need to buy renter’s insurance from those same companies, or the landlord will pass these increase costs to you through rent…
I'm loving my retirement so far! My wife and I worked hard to reach this point - we're both retired, debt-free, and fortunate to have over $3 million in net worth. We achieved this through a saving and investing lifestyle in the stock market, which now generates weekly income for us. And now, we get to enjoy the fruits of our labor! We're traveling, golfing, and spending quality time with the grandkids. We feel grateful to be living smart and frugal, making the most of our golden years.
Absolutely! I'm in the same boat. I just got back from a road trip across the country. It's amazing how much energy and freedom we have now. Make the most of it, because it won't last forever!
I'm a young dad and I'm really glad to hear your story - it inspires me! I'm still working, but I'm counting down the days until I can enjoy my retirement Years. Can you please share your tips? What's the key to achieving this milestone and making the most of your retirement years? Any tips would be greatly appreciated!
Building a successful retirement requires discipline and strategy. Our journey's key takeaways include starting early, living below our means, diversifying investments, creating multiple income streams, planning for taxes, prioritizing relationships, and maintaining an active and healthy lifestyle...
Additionally consult with a fiduciary advisor, who can help grow your funds, Create a personalized plan and better prepare you for a successful retirement. we are with Tracy Britt Cool Consulting a US-based fiduciary. Look her up if she meets your requirements.
< Additionally consult with a fiduciary adv isor, who can help grow your funds, Create a personalized plan and better prepare you for a successful retirement. we are with *Tracy Britt Cool Consulting* a US-based fiduciary.
🎵"Land of the greed and the of the depraved." 🎶
🇺🇸
Land of the fee, and the home of the slave
😢
Retirement? Lmao, we struggle to make it though a month of bills while we work. Survive without working lol nahh not for us slaves. Not to mention employees today are approximately 5x more productive than those older generations with higher pay & pensions.
Graduated college in 1982. Right when the big shift away from pensions was happening. My corporate employers did embrace 401ks, and of course IRAs were emerging. I was a finance guy with conservative parents, so I saved at every opportunity. Many did not have that mindset. I am a successful 401k retiree - so it is possible- but I completely understand how many are now in trouble.
Regan ruined everything. He busted up unions and made it hard for people to save a retirement.
Man, this video hits hard! Retirement did sound easier back then-no insane housing prices, no inflation rollercoaster, just vibes. Anyway, I’ve been hustling to stack $189k in my emergency fund, and I’m finally ready to dive into investments. But real talk, where’s the headstart button? ETFs? Real estate? Crypto? Someone hand me a financial crystal ball, please.
Props on saving $189k-that’s impressive! But don’t go all in without a solid plan. Honestly, I used to feel the same way until I worked with a financial advisor. They helped me map out goals, diversify, and avoid rookie mistakes. Highly recommend finding one; it’s a game-changer.
Okay, I’m in the same boat, but how do you even find a good financial advisor? Google reviews? Random Reddit threads? I need someone legit who won’t just pitch me overpriced mutual funds. Any tips would help-this DIY investing is giving me whiplash
There are a handful of CFAs. I've experimented with a few over the past years, but I've stuck with Linda Aretha Reeves for some years now, and her performance has been consistently impressive. She’s well-known in the field-look her up.
Just looked up Linda Aretha Reeves, and wow, she seems like exactly the kind of guidance I need for my portfolio. Thanks for the rec-feeling optimistic now!
I actually watched Linda Aretha Reeves speak at the Bloomberg Finance Summit four years ago-her presentation was incredible. Her insight into navigating volatile markets really stood out. Great recommendation!
People who say they can't save for retirement are wrong. They don't make saving for retirement a priority. They'll "invest" in an iPhone or the latest gaming system every few years, but won't put a mere $25/week ($100/mo) aside from ages 16-65 to retire as millionaires. This isn't taught in schools from an early age.This isn't a societal norm. It should be.
Oh the Republican one claiming everyone can live within their means even if companies are stifling people. Don’t buy that cell, even though majority of companies now require a cell. Don’t buy that company even through every company requires one.
I earn more than enough and I can save but the majority do not get paid what I do and I don’t live in lala land where you do.
Remember:
"It's just business" is the soldier's "I was just following orders."
Wages are all to low, minimum wage is $7.25
It pisses me off seeing how much social security is taken from me when I know there will likely be none left for me when my time comes. It's absolutely infuriating.
My Dad has a pension through Harley Davidson but that was because they have a union! Reagan was the worst thing to ever happen to this country when he busted unions and destroyed so many other things. We've never recovered. 401K matches are ok but many are very low percentages or have a deadline of how long you have to work there BEFORE they match you. Matches also rely on you having extra income to invest in the first place which most don't. There is no future, EAT THE RICH.
every thing your dad said is correct. With out a doubt Regan was author of the downfall of the middle class in America.
Get a husband.
@@Snesboy09 LOL.
@@Snesboy09I have multiple and am still struggling
@@Yessssz Make a spreadsheet.
Eliminate the FED, income and property taxes, excessive government spending, and then you won’t need social security to retire .
The nine most terrifying words in the English language are, “I’m from Wall Street and I’m here to help.”
I have a pension which was frozen when I had 12 years with my employer. The 401k they offered did a 5% - 100% match and I have contributed 5 to 22% of my pay into it for the last 27 years. I also saved into a Roth IRA. Today at age 55 I have $925k in the 401k, and another $125k in the Roth IRA. The pension will provide me with $1k a month starting at age 67, plus $3250 in SS (or $2600 if they cut it by 20%.)
And that 401k another 3,300K a month.
White male?
@@everythingmatters6308 why would that matter?
The 401k is the biggest scam on the middle class.
My 401k balance currently stands at $682,946.26 at age 34. I've achieved this by maxing it out every year and investing in S&P500 index funds. Please explain how I'm being scammed?
@@narbwow8168 That's badass! What field are you in? Good for you 👍
@@narbwow8168 You are an outlier. Where does your income fall compared to the average American? Do you have a family? Do you support a spouse? The statistics speak for themselves. 61% of Americans over 50 are concerned that they do not have enough for retirement. When I go to Walmart and other retail stores, I see people well beyond their years working. They are not doing it for the joy of working.
@@narbwow8168youre the exception, that is impossible for most middle class workers in america
@@narbwow8168 Most Americans don't have a high enough salary to max it out as you suggest. Why should lower income people not be able to retire while you, which probably make well above 60k a year in order to max it out gets to retire? I am 31 and also have a net worth close to yours.
in 1990 average household income was around 64K. Based on inlfation - in 2024 that should be around 164K just to keep up with inflaltion. Current household income right now is around 80-85K. So toxic capitalism made it very hard to save and possibly retire. Person fault - maybe a little - but deck was stacked against people.
A worker with a pension gets to keep more money in their check and also has the company saving for their retirement. A worker with a 401K takes money from their own check to save and the company gets to keep more money.
The system in place currently does not help anyone other then the company, like all changes in my lifetime.
But a pension can fail. It happened in the 70's, and you would be stuck at a company until your retire, and you have to make sure that your company doesn't collapse.
Pensions funds are investing in the stock market, and are also huge stakeholders in the Private Equity firms that are destroying healthcare, etc.
Many pensions are insured by the PBGC nowadays
When one person cant save for retirement, its a personal issue. When half the country cant save for retirement, its a time bomb
I just am so depressed my family is so blind to everything and get angry at me for trying to tell them they're being endlessly abused by every company and rich they support
No one likes to be told that they’ve been duped. If they’re actively supporting, they’re not going to react well because you’re (in their eyes) telling them they’re stupid. Try a different and slower approach. Notice what makes them unhappy or irritated. Then casually bring up your thoughts without being preachy. Talk about the issues that hit close to home without jumping into “don’t trust these people!” Don’t just tell them, think it through with them and let them get there. Treat it like deprogramming from a cult.
Im 55 and have about $100k in my retirement fund... but that's nowhere near enough for me to be able to retire. The rich are strangling the middle class and the poor. Yet we keep voting these clowns into office.
I'm bascially in the same boat and in my 50s as well. Just got to a point where I have money left at the end of the month to put in savings (outside of 6% to 401k) after the bills are paid. Unfortunately I feel like my days are numbered at work, because ya gotta cut costs to help out those poor shareholders and why not get rid of the older folks.
I’m a sole proprietor, so is my wife. We pay more taxes than an employee and more for health insurance too. The system is rigged against us, in the supposed land of “free market” competition and individual enterprise.
I’m in my early 40’s and made peace with the fact that I’ll die working years ago.
Made peace? Fuck that
Same. Going on 44 and I’ve accepted that fate as well.
The problem is you may become ill (hopefully not but cancer, arthritis, and chronic illness are more common with age) and will lose everything you worked your life for. Then corporate America wants you to not exist
Sorry to say, but it just confirms that politics, corporations and media have sedated the people. People should be angry and furious - hope we see more luigis. Don't feel bad for wanting to have a life. If politicians really think i.e. fast foods is bad for their people, then they would take the money back from the corporations that benefitted over years from it, but actually they don't want to do that.
I just turned 44 and feel like I’m late to the investing game, with barely any portfolio aside from my 401(k). I’ve managed to save over $220k in cash, but with inflation soaring yet again, I’m growing increasingly worried about retirement. My goal is to retire at 55, so how can I best maximize my savings to achieve this?
Retirement is more challenging now than it used to be. It’s all about finding the right balance between your risk tolerance and long-term goals. You might want to consult an advisor who can help you diversify your portfolio to reduce risk while aiming for growth.
I agree completely. I’ve always leaned on an advisor for guidance, especially after suffering a major portfolio loss in early 2020 during the COVID outbreak. Since then, I’ve made subsequent investments and am now semi-retired, working just 7.5 hours a week. I’m currently about 25% short of my $1 million retirement goal.
Thanks for sharing your experience! I’ve been managing my portfolio on my own, but it hasn’t been working out well.
Do you have any recommendations for a reliable investment advisor? I could really use some help.
My CFA, Peter Dewitt Martin, is highly respected in his field. I recommend looking him up online-you’ll find all his credentials and details about his expertise. With many years of experience, he’s a great resource for navigating the complexities of the financial market.
This should be relabeled “How Reagan Ruined Everything”
Bigger government ruined home ownership not regan
@coopsnz1 Given you can’t even spell his name I trust your input
Bidenomics