Love your presentation style. I am recommending your channel to my adult children. Thanks for sharing your years of experience and alleviating a bit of anxiety as my wife and I head into retirement in less than 2 years with the help of a financial planner. Keep up the good work!
I quit smoking in 1982 just before I got married. I had been smoking almost a pack a day for ten years. I started as a teen and stopped in my late twenties. I can remember getting cigarettes in the machine for 50 cents and remember them going up to 70 cents a pack. I just can't get over how expensive they are now! So glad I quit so many years ago.
Love this guy!! I dont want to wait too long, Im 61 and am short of my goal but I agree with you that Health and time are limited. Having been to the third world and having a project there with a remote village I have attained a diifferent view of life than the avg middle class American, so Thanks, you Rock!!🎉
Hello Azul. I'm a newer subscriber and really appreciate your content. Lot's of valuable information I will be using as I get ready for full retirement at age 62.
The smoking comment was imho... the most important of all. 4k invested in a total market low cost index fund starting Jan 1993 and doing so every year would have resulted on about $815,461 in an ira. Even more important is that quitting smoking is one of the most effective ways to increase your healthy lifespan.
Great job, Azul. Your relaxed style and the way you makes important concepts sound so simple is very effective. Keep up the awesome posts. You are very good at what you are doing. Thank you Btw, your locations are inspiring. Where are you in this vid? It looks beautiful.
Congrats on 10k subs, Azul! I would be interested in hearing how you would assess a stock. What questions would you ask yourself? Where would you find the information to have confidence that you answered those questions to the best of your ability? Love the content, keep it up!
Please discuss how expensive having children can be, the time off from work that parents (usually females) must sacrifice to raise small children, and how this affects a female’s ability to move up in her career and how badly it can affect her retirement income and social security. (Long term negative consequences for females who have multiple children.)
Agreed! Also the expense of the divorce is huge for females, I am talking about the emotional labor of caring for children, mostly women get custody. So as a woman you are a single mom after divorce, you have to work to stay afloat financialy but also care for kids. Having kids is a really expensive decision for a women to take, basically if you get divorced you are fucked financially. Especially if you have been out of the work force to raise kids!
Sure would love to hear where you broadcast from in your vids. So glad to have found you as I'm about to retire, would love a 1:1 convo. Shared this one with my daughters, thanks!
I think you could also add drinking alcohol along side of smoking cigarettes because i know a lot of people that are alcoholics and blow through money and are dying early of liver disease
The Australian government has been deliberately increasing the taxes on cigarettes every six months for years now, to encourage people to stop. A typical 25 pack now costs around AU$50...or US$35. Encouraged me to quit 7 years ago!!!
You are a breath of fresh air concerning the Anxiety of retirement. What do you think of the Scripture. :The Lord takes care of the birds of the air, and the flowers are clothed in Beauty, will He not take xare if you,??" Just wondered 😊
Hi Azul, I love your videos and it’s really motivating. I live in Southern California and need to move when we retire. Your surroundings are very beautiful. What state do you live in? I’m guessing Washington?
Kudos to you for mentioning smoking right off the bat! Ever notice that poverty perpetuates itself? Smoking is a big reason. It is mostly poor people who smoke and smoking keeps them poor! I've seen a taped segment of a tobacco industry leader talking to the press and he was asked if he used his own product and he answered, "hell no, I save it for the poor, black and stupid!" He really said that!
Always a thumbs up. Enjoy ur vlogs. Great messages...something for everyone. Sadly, i did have to start over, but thankfully had time on my side. Have always worked to save and invest for long term growth.
Hi Azul can you suggest some financial advisor on RUclips that we should watch I like all you videos, I learn lot of things from you and I think you are like a free financial advisor for us 😊
I like some of the old videos of Heritage Wealth Planning, I like Jazz Wealth Managers, and I am very impressed by the in-depth videos from Safeguard Wealth Managment.
Sounds good thanks again. I have something to ask you about. my son in his mid 30's has done well being a saver. but because it's Dad telling him and his views on capitalism and corporate America. He is not interested in investing. He knows he should be. but like many younger people has a problem with it from their view of the world. I understand it as best I can. I am not in his shoes. but thought I would pass this subject on to you to think about and maybe share some of your thoughts on this. It is a problem if we cannot get younger people to join in on investing. And the world today does have so many more challenges today then I had and yes many opportunities too! your thoughts?
Azul, I'm particularly interested in your last point, i.e. keeping your net worth once you have acheived FI. I am 67 yrs old, just retired, and truly have FI to support a lifestyle that is 2x what I actually spend. Currently I am not in the market at all, mostly because I can earn between 4.5-5.0% risk-free in Treasuries and a Schwab money market fund. My financial advisor is skeptical of that approach. When risk-free rates drop, as I know they will, then I would be in favor of getting back into the market, but I just don''t see a strong reason to do that now. Any thoughts? Thanks.
4.5 - 5% is a great return considering that it’s risk free. With an impending recession and down turn in the markets, being in general equities now feels like chasing cents in front of a steam roller. I sense that a trend change is imminent.
The ONLY reason to take risk is to make money. If you have enough money there is no need to take risk, and in fact you would then increase your risk of losing a bunch, even if that risk is small. You do have to be able to deal with inflation if you stay in very low risk investments. We are sort of in the same situation. What we are doing is taking a small part of our portfolio and leaving it in high risk assets of stocks and a little Bitcoin. The rest is in various fixed income assets and ladders, as well as some metals. We are also maxing Social Security
I did the same thing and fired my financial advisor who had let me lose around 70,000 in the market and I'm already retired. It sounds like to me you don't need one either. I also agree with the commentor below who said if you don't need to make money, no reason to be in the market. That is how I feel. I don't need to make money, I just don't want to lose what I have and I think this recession will take years to get out of because of the crazy things our government keeps doing.
When I was 20 yrs old had a union job and was approached by financial adviser for a Tax Shelter. Was still living a home, said whynot? Each yr I raised the amount, after leaving that job I had 25,000 in 1994. That helped us buy our house in 1996. The key is saving money when fairly young, especially while still at home for your future.
You have a nice smile Azul and there's a popular Jewish saying, "Never open a shop unless you are able to smile." Speaking of volatility, my wife and I have 1600 shares of Tesla at $20 which is great. But it's hard to watch the day to day gong show when you know this is the greatest company on Earth. Wish the wife would stop watching it go up and down every hour though.
Azul What kind of camera or phone do you use to record your videos? It’s clear and good audio. also I’m enjoying your videos. I’ve been subscribed for a few weeks and listen every day. Regards, Frank in Philippines/Florida.
Azul, you talked about an emergency fund but discussed it in terms of a working person. I’m retired and think the concept (in addition to life insurance) needs to be re-thought. How should I think about the amount of emergency funds I need when I no longer have a job?
A good question I’ve heard suggestions of several months expenses or access to funds that would cover the same. Not really much different in retirement, as you have monthly income from SS/ portfolio. For many you don’t need a true “fund” you just have to have investments in your portfolio that are liquid. We have that and a line of credit.
@@randolphh8005 Thanks for responding. In my case, I have a much more stable “income” than I did in some 40 years in the military and government. When I was employed and raising a family, I could have lost my job or been injured so I couldn’t work, and then my family would be imperiled. Thus I had a $1M term life insurance policy on me that made sense and terminated at 67. But when I retired at 62, my children were adults out of the house, and my wife and I had “income” from military and FERS retirement that is not going away. SS is more iffy, but we’re not taking it until 71 because we can wait. We augment that income with a non-retirement fund we accumulated over decades that will easily last until we have to start taking RMDs at 72. We have a financial advisor and she just kept telling us we needed that same emergency fund and the term insurance even though we are financially independent, have LTC insurance, and Medicare/Tricare. So my wife and I ditched the term policy and increased the percentage of non-IRA money in “cash” (money market funds) in a couple different places (not retirement accounts) where we could access it. My main “emergency” or contingency concern is a significant, long-term market downturn, not losing my job or health concerns. In other words, the entire concept of an emergency fund changed for my wife and I and it was up to us to figure it out because our advisors, who are fee-only and very competent, simply hadn’t thought it through. I don’t think our case is unique. The emergency fund is money we take OUT of the market, and thus poses a certain risk, so the strategy for how much and how long matters. Just my two cents!
Hi Azul, I'm curious about your thoughts on paying for college. We never had a 529 savings plan. I have an espp that we are going to use to pay college expenses. Is there a "best" way to sell stock from an espp to pay the least in taxes? I realize you can't give advice per se, but I'm mostly looking for a smart strategy to minimize tax implications when selling stock from an espp.
My wife always made as much as me, we are both happily retired and together for over 40 years. Been super for building our wealth. You just have to know how to pick a partner and keep each other happy.
The problem with saying “here in the US you need a credit card” is that most people CANNOT manage it to where they pay it off each month…..they get trapped immediately - so I’d say it’s bad to recommend people use credit cards…..
I genuinely mean it when I express my stress and concern regarding the market crash and high inflation, particularly in relation to my retirement. I have been experiencing losses for quite some time, and while some may argue that crises can present opportunities, I am feeling overwhelmed. However, I understand that investing is a long-term endeavor, and it is crucial to maintain focus on the bigger picture and the long run.
Love your presentation style. I am recommending your channel to my adult children. Thanks for sharing your years of experience and alleviating a bit of anxiety as my wife and I head into retirement in less than 2 years with the help of a financial planner. Keep up the good work!
i've been watching your videos this evening and you have been a breath of fresh air. thank you
Better health is priceless!
I quit smoking in 1982 just before I got married. I had been smoking almost a pack a day for ten years. I started as a teen and stopped in my late twenties. I can remember getting cigarettes in the machine for 50 cents and remember them going up to 70 cents a pack. I just can't get over how expensive they are now! So glad I quit so many years ago.
I appreciate you sharing tough subjects. Sometimes we need to have our bad habits called out so we can realize that we should address them again.
Love this guy!! I dont want to wait too long, Im 61 and am short of my goal but I agree with you that Health and time are limited. Having been to the third world and having a project there with a remote village I have attained a diifferent view of life than the avg middle class American, so Thanks, you Rock!!🎉
Hello Azul. I'm a newer subscriber and really appreciate your content. Lot's of valuable information I will be using as I get ready for full retirement at age 62.
The smoking comment was imho... the most important of all. 4k invested in a total market low cost index fund starting Jan 1993 and doing so every year would have resulted on about $815,461 in an ira. Even more important is that quitting smoking is one of the most effective ways to increase your healthy lifespan.
@ Azul, When would you have enough net worth to justify an umbrella policy? Is it 500K, 1M, 2M, 3M, 5Million?
I love Your advice, glad to have found you on RUclips ! Please keep up Your great work !
Thanks !
Azul I just found your videos... great job and great advice... thank you for your time and work
Great job, Azul. Your relaxed style and the way you makes important concepts sound so simple is very effective. Keep up the awesome posts. You are very good at what you are doing. Thank you
Btw, your locations are inspiring. Where are you in this vid? It looks beautiful.
Good advice for all! Thank you!
Great stuff! Thanks!
Congrats on 10k subs, Azul!
I would be interested in hearing how you would assess a stock. What questions would you ask yourself? Where would you find the information to have confidence that you answered those questions to the best of your ability?
Love the content, keep it up!
Congrats on 10k subs!!!! I love your content, and your channel is growing so quickly! Great job sharing this invaluable wisdom!!
Yes, pls share above valuations
Please discuss how expensive having children can be, the time off from work that parents (usually females) must sacrifice to raise small children, and how this affects a female’s ability to move up in her career and how badly it can affect her retirement income and social security. (Long term negative consequences for females who have multiple children.)
Agreed! Also the expense of the divorce is huge for females, I am talking about the emotional labor of caring for children, mostly women get custody. So as a woman you are a single mom after divorce, you have to work to stay afloat financialy but also care for kids. Having kids is a really expensive decision for a women to take, basically if you get divorced you are fucked financially. Especially if you have been out of the work force to raise kids!
You're the best with this financial advices
I am interested to learn about these P/E ratio or other metrics that give an idea about stocks value. Thanks Azur !
Sure would love to hear where you broadcast from in your vids.
So glad to have found you as I'm about to retire, would love a 1:1 convo.
Shared this one with my daughters, thanks!
Azul, please do a video about stock valuation if you haven’t already. It’s fascinating. Love your videos. Thanks!
I think you could also add drinking alcohol along side of smoking cigarettes because i know a lot of people that are alcoholics and blow through money and are dying early of liver disease
The Australian government has been deliberately increasing the taxes on cigarettes every six months for years now, to encourage people to stop. A typical 25 pack now costs around AU$50...or US$35. Encouraged me to quit 7 years ago!!!
Great infornation! Thank you for sharing your knwledge.
You are a breath of fresh air concerning the Anxiety of retirement. What do you think of the Scripture. :The Lord takes care of the birds of the air, and the flowers are clothed in Beauty, will He not take xare if you,??" Just wondered 😊
Hi Azul, I love your videos and it’s really motivating. I live in Southern California and need to move when we retire. Your surroundings are very beautiful. What state do you live in? I’m guessing Washington?
Kudos to you for mentioning smoking right off the bat! Ever notice that poverty perpetuates itself? Smoking is a big reason. It is mostly poor people who smoke and smoking keeps them poor! I've seen a taped segment of a tobacco industry leader talking to the press and he was asked if he used his own product and he answered, "hell no, I save it for the poor, black and stupid!" He really said that!
Love your channel Azul! I'm getting an education from every video. What state do you live in?
Always a thumbs up. Enjoy ur vlogs. Great messages...something for everyone. Sadly, i did have to start over, but thankfully had time on my side. Have always worked to save and invest for long term growth.
Hi Azul can you suggest some financial advisor on RUclips that we should watch
I like all you videos, I learn lot of things from you and I think you are like a free financial advisor for us 😊
I like some of the old videos of Heritage Wealth Planning, I like Jazz Wealth Managers, and I am very impressed by the in-depth videos from Safeguard Wealth Managment.
Thanks again. Love the content of you vids.
Your veluable lesson realy much more useful...
Thanks
Great video yes talk more about analyzing stocks
Thank you for posting this helpful video
Well depends what you value the most(money or life partner) your choice.
Thanks for sharing the great content!
Hello friend...been really enjoying your videos. Subscribed and liked. Thank you!
I like listening to your videos. Thank you
Sounds good thanks again.
I have something to ask you about.
my son in his mid 30's has done well being a saver. but because it's Dad telling him and his views on capitalism and corporate America. He is not interested in investing. He knows he should be. but like many younger people has a problem with it from their view of the world. I understand it as best I can. I am not in his shoes. but thought I would pass this subject on to you to think about and maybe share some of your thoughts on this. It is a problem if we cannot get younger people to join in on investing. And the world today does have so many more challenges today then I had and yes many opportunities too! your thoughts?
Sound advice. Take it!
Man.. you are so wise. I need to work on smoking!!!! Dude I blow so much money on the smokes!!!
Azul, I'm particularly interested in your last point, i.e. keeping your net worth once you have acheived FI. I am 67 yrs old, just retired, and truly have FI to support a lifestyle that is 2x what I actually spend. Currently I am not in the market at all, mostly because I can earn between 4.5-5.0% risk-free in Treasuries and a Schwab money market fund. My financial advisor is skeptical of that approach. When risk-free rates drop, as I know they will, then I would be in favor of getting back into the market, but I just don''t see a strong reason to do that now. Any thoughts? Thanks.
4.5 - 5% is a great return considering that it’s risk free. With an impending recession and down turn in the markets, being in general equities now feels like chasing cents in front of a steam roller. I sense that a trend change is imminent.
The ONLY reason to take risk is to make money. If you have enough money there is no need to take risk, and in fact you would then increase your risk of losing a bunch, even if that risk is small.
You do have to be able to deal with inflation if you stay in very low risk investments.
We are sort of in the same situation. What we are doing is taking a small part of our portfolio and leaving it in high risk assets of stocks and a little Bitcoin. The rest is in various fixed income assets and ladders, as well as some metals.
We are also maxing Social Security
I did the same thing and fired my financial advisor who had let me lose around 70,000 in the market and I'm already retired. It sounds like to me you don't need one either. I also agree with the commentor below who said if you don't need to make money, no reason to be in the market. That is how I feel. I don't need to make money, I just don't want to lose what I have and I think this recession will take years to get out of because of the crazy things our government keeps doing.
I’m hopefully gone in 9 months and my exposure to the market will be much smaller if at all after I retire…..fuck the advisor. Good luck and be safe.
When I was 20 yrs old had a union job and was approached by financial adviser for a Tax Shelter. Was still living a home, said whynot? Each yr I raised the amount, after leaving that job I had 25,000 in 1994. That helped us buy our house in 1996. The key is saving money when fairly young, especially while still at home for your future.
Great advice 😊
How do you like northern vs southern UT?
Please consider doing something to get rid of the background (wind) noise when recording outside.
You have a nice smile Azul and there's a popular Jewish saying, "Never open a shop unless you are able to smile." Speaking of volatility, my wife and I have 1600 shares of Tesla at $20 which is great. But it's hard to watch the day to day gong show when you know this is the greatest company on Earth. Wish the wife would stop watching it go up and down every hour though.
Azul
What kind of camera or phone do you use to record your videos? It’s clear and good audio. also I’m enjoying your videos. I’ve been subscribed for a few weeks and listen every day. Regards, Frank in Philippines/Florida.
Azul, you talked about an emergency fund but discussed it in terms of a working person. I’m retired and think the concept (in addition to life insurance) needs to be re-thought. How should I think about the amount of emergency funds I need when I no longer have a job?
@@yoshico12345 Duh. So what’s the formula for it?
A good question
I’ve heard suggestions of several months expenses or access to funds that would cover the same. Not really much different in retirement, as you have monthly income from SS/ portfolio. For many you don’t need a true “fund” you just have to have investments in your portfolio that are liquid.
We have that and a line of credit.
@@randolphh8005 Thanks for responding. In my case, I have a much more stable “income” than I did in some 40 years in the military and government. When I was employed and raising a family, I could have lost my job or been injured so I couldn’t work, and then my family would be imperiled. Thus I had a $1M term life insurance policy on me that made sense and terminated at 67. But when I retired at 62, my children were adults out of the house, and my wife and I had “income” from military and FERS retirement that is not going away. SS is more iffy, but we’re not taking it until 71 because we can wait. We augment that income with a non-retirement fund we accumulated over decades that will easily last until we have to start taking RMDs at 72. We have a financial advisor and she just kept telling us we needed that same emergency fund and the term insurance even though we are financially independent, have LTC insurance, and Medicare/Tricare. So my wife and I ditched the term policy and increased the percentage of non-IRA money in “cash” (money market funds) in a couple different places (not retirement accounts) where we could access it. My main “emergency” or contingency concern is a significant, long-term market downturn, not losing my job or health concerns. In other words, the entire concept of an emergency fund changed for my wife and I and it was up to us to figure it out because our advisors, who are fee-only and very competent, simply hadn’t thought it through. I don’t think our case is unique. The emergency fund is money we take OUT of the market, and thus poses a certain risk, so the strategy for how much and how long matters. Just my two cents!
“Everyone has a plan until they get punched in the mouth “. Tyson
Hi Azul, I'm curious about your thoughts on paying for college. We never had a 529 savings plan. I have an espp that we are going to use to pay college expenses. Is there a "best" way to sell stock from an espp to pay the least in taxes? I realize you can't give advice per se, but I'm mostly looking for a smart strategy to minimize tax implications when selling stock from an espp.
Cigarettes are $50 per pack in Australia. That's around $38 USD.
good advices!
Getting married is the biggest risk by far..
For western males; it's suicidal.
yes sir
Divorce is very expensive!
My wife always made as much as me, we are both happily retired and together for over 40 years. Been super for building our wealth. You just have to know how to pick a partner and keep each other happy.
Single here. Marriage always looked mad to me; not exactly good for women either.
ty
I love your content.. new subscriber here.. can you make a video about your investment advice?
Based on your many excellent videos, I thought #10 would be getting divorced!
Wife smokes. Had her watch #1. Thank you!
Good stuff!
All good common sense advice
Stealth wealth poor me! No one needs too know your wealth. Don't worry be happy. Don't carry flash hide your cash.
I did
The FDIC does not have the funds to cover even a fraction of this country's deposits.
The problem with saying “here in the US you need a credit card” is that most people CANNOT manage it to where they pay it off each month…..they get trapped immediately - so I’d say it’s bad to recommend people use credit cards…..
Why do you say that money in a savings account is riskier than having your money in the stock market?
My mother smoked till age 70. She’s still alive but had numerous health issues from smoking. Smoking is a disgusting habit.
Another common finance wrecker to try and avoid - divorce !
We have to use our emergency fund every month.
SMOKING. I see cigarette butts on the ground OUTSIDE THE ONCOLOGY OFFICE and always wonder…………
The last comment rang true. Take chips off the table after you have won the game.
If 2 people have $300,000 in an account isn’t that FDIC insured?
it's per account I believe, not per person
Cigars don’t count 😊
Balls out.
Buying a timeshare.
I quit smoking in 5th grade.
11. Stop going to the Casino....
Tesla is expected to break another quarterly delivery numbers..few days away
When you say stay until the end this degrade your credibility
Don't quit smoking, I have a bunch of tobacco shares ;-)
I genuinely mean it when I express my stress and concern regarding the market crash and high inflation, particularly in relation to my retirement. I have been experiencing losses for quite some time, and while some may argue that crises can present opportunities, I am feeling overwhelmed. However, I understand that investing is a long-term endeavor, and it is crucial to maintain focus on the bigger picture and the long run.
how do I get in touch with this consultant that assist?..
I love a nice fat doobie 👍