Aside from my 401(k), I don’t have much of a portfolio. I’ve saved over $220k, but with inflation climbing again, I’m starting to worry. I want to retire by 55, but how do I know if I’m saving enough or doing the right things to get there?
It's all about balancing risk tolerance with long-term goals, but figuring out how much you need to save can feel overwhelming. Maybe it’s time to consult a professional who can help diversify your portfolio and spread out the risk
I completely agree. I’ve relied on an advisor for years after a major portfolio loss in early 2020 during the COVID crash. Now, I’m semi-retired, working part-time, and only 25% short of my $5M retirement target thanks to disciplined saving and investing. Professional guidance made all the difference for me
I’ve been managing my own portfolio, but honestly, it’s not working out. As a self-employed person, it’s tough to figure out if I’m saving enough or investing in the right places. Does anyone know a good financial advisor who can help with retirement planning?
If you’re looking for someone experienced, I’d recommend Joseph Nick Cahill. He’s a CFA with years of expertise helping clients-especially self-employed individuals-build strong portfolios for retirement. He’s known for creating customized plans and offers free consultations to help you figure out your next steps.
Thank you so much for the suggestion! I really needed it. I looked him up on Google and explored his website; he has an impressive background in investments. I've sent him an email, and I hope to hear back from him soon
Can't believe most people don't know how much pension they have. I'm so glad I kept an eye on my pensions while earning and now happily retired on comfortable income.
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Everyone should have BTC in their portfolio
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Brian! Imagine i invested $50,000 and received $190,500 after 14 days
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
Truly shocking and no wonder the UK people are in such a mess with finances. I was told when I was 22 that I needed a pension pot of £700K and checked regularly through my life to make sure I hit the target even if it meant putting more money in to my pension scheme that I'd like to. Basic financial education should be mandatory in schools.
It's quite worrying. Seems like most people are burying their heads in the sand when it comes to pensions and would rather spend their money now. They think either; 1) they'll just keep working (which might be easier if you can work from home, but you can't work indefinitely, you'll get physically or mentally worn out at some point), 2) they'll get an inheritance - but how long will they have to wait, even if that inheritance isn't spent on old age care), 3) the State will help them, but a life on benefits is going to be pretty basic, with luck you will be warm and fed but you probably won't have nice holidays or be able to afford a car, or 4) they will die before they get old!
I think one of the problems is getting information on the older schemes and the lack of transparency from certain providers. The new schemes are mostly online accessible for instant info.
I retired at 52 and wish I’d done it sooner. The 9-to-5 grind steals your freedom for a paycheck.[peanuts] btw my advice is If you’re in your late 30s or early 40s, start saving for retirement now, in your 50s? Invest now and break free from relying on your job. Market trends like the Trump Effect have made millions for many including me. Stay focused and consistent!
Working with Lorrie Greta Hillard , a financial advisor, was a game changer. She helped me refine my savings strategy, including retirement planning, and provided expert guidance on investments and budgeting to maximize my savings.
It’s shocking how little effort people put into their own retirement planning. Too many people are blasé and just think “it’ll be fine” based on absolutely nothing whatsoever… Yes, we had a switch over from DB to DC pensions and no, it isn’t taught in schools (it should be), but bloody hell, have the nous and wherewithal to own your own financial future. There’s loads of education you can easily find on RUclips without too much effort, and yet, they can’t be bothered… it’s 100% their own fault!
Agreed. Yet these people will be in for an almighty shock when they finally retire ( if indeed they can? ). They will then go on to blame the Government as people normally do. Idiots!!
@@Banthah The amount of people I’ve met that say they’ll start their pension when they get to 50! Start at 20 and put in as much as you can afford and it’ll soon start to gain interest.
Too many people expect to be spoonfed by the state. There was an expectation when interest rates started going up and mortgages rose sharply that the government should have stepped in with handouts! People borrow more than they can reasonably afford in order to live a life that impresses their friends and neighbours.
I audit all my savings, investments & cashflow on the same date every month, and I check my apps more often (every few days - and every day for my S&S ISA) so I have a very clear handle on what I have. And right now I definitely feel like there’s not enough in there. I didn’t get my first workplace pension til my early 30s so I have some catching up to do.
As previously mentioned on one of Diane's vids I retired at 59 that was 5 years ago. I noticed my pension pot with a large pension fund company was losing money every month because the market was bad so I decided to change my whole pot to a cash account and have been getting a nice tidy sum each month in interest for a few years so I'm glad I did it and although I lost a few thousand pounds overall because of the slump I'm in a better situation now plus I don't need to pay my financial broker who was in a win win irrespective on how my account was doing. I will have enough money to get to my state pension age in 2 years time. From my experience I wouldn't trust the pensions markets these days as I cant see the markets doing well in the world we now live in.
Wow, your goal of just getting your pot to last to State Pension was misplaced. While interest rates have gone up in recent years, just look at the returns Stocks and Shares ISA (S&P500) have returned since Covid. You missed out
I was for 20 years in a defined contribution pension, I changed jobs and was very lucky to then have a defined benefit pension. I decided to transfer my DC pension into my DB pension. So now I'm ready to retire it's just one pension which is DB. Not sure what relivence my pension pot has, only regarding the lump sum I guess as my pension salary is worked out by a formula. Am I right thinking this?
As Diane says check with your employer. There is no pot with a DB scheme just some options for taking an income and/lump sum at retirement, But you are allowed to build up a separate pot by opening a personal pension that you can operate alongside your own scheme.
Dianne, Last evening I watched one of your excellent videos regarding taxation in Portugal compared with the UK for those considering relocating to Portugal. I can no longer find that one, so has this been removed? Regards
@@peterkelly5672 That's a huge fee. Several SIPP providers cap their charges if you have larger pots. I'd really look at other providers if i was in that position to see if another provider could offer lower costs but still provide a great service with all the facilities you would want.
Even worse, less than 1 in 4 know how much it costs them to live as they do. Everyone now has access to a spreadsheet- why aren't you using one? No point in knowing what you have in your pension pot if you do not know how much you will need. If you do not run a spreadsheet on your finances, start- today. Example of benefits- inflation. Everyone knows that it is important for financial planning, but most think it is the published figure. No. Your inflation figure is unique, and a spreadsheet will give you that number. I was shocked at how much lower mine is- and that allowed me to retire earlier- much earlier. Take control.
Aside from my 401(k), I don’t have much of a portfolio. I’ve saved over $220k, but with inflation climbing again, I’m starting to worry. I want to retire by 55, but how do I know if I’m saving enough or doing the right things to get there?
It's all about balancing risk tolerance with long-term goals, but figuring out how much you need to save can feel overwhelming. Maybe it’s time to consult a professional who can help diversify your portfolio and spread out the risk
I completely agree. I’ve relied on an advisor for years after a major portfolio loss in early 2020 during the COVID crash. Now, I’m semi-retired, working part-time, and only 25% short of my $5M retirement target thanks to disciplined saving and investing. Professional guidance made all the difference for me
I’ve been managing my own portfolio, but honestly, it’s not working out. As a self-employed person, it’s tough to figure out if I’m saving enough or investing in the right places. Does anyone know a good financial advisor who can help with retirement planning?
If you’re looking for someone experienced, I’d recommend Joseph Nick Cahill. He’s a CFA with years of expertise helping clients-especially self-employed individuals-build strong portfolios for retirement. He’s known for creating customized plans and offers free consultations to help you figure out your next steps.
Thank you so much for the suggestion! I really needed it. I looked him up on Google and explored his website; he has an impressive background in investments. I've sent him an email, and I hope to hear back from him soon
Can't believe most people don't know how much pension they have. I'm so glad I kept an eye on my pensions while earning and now happily retired on comfortable income.
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Everyone should have BTC in their portfolio
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Brian! Imagine i invested $50,000 and received $190,500 after 14 days
Absolutely! Profits are possible, especially now, but complex transactions should be handled by experienced market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
Truly shocking and no wonder the UK people are in such a mess with finances.
I was told when I was 22 that I needed a pension pot of £700K and checked regularly through my life to make sure I hit the target even if it meant putting more money in to my pension scheme that I'd like to. Basic financial education should be mandatory in schools.
Congrats on the big pot
It's quite worrying. Seems like most people are burying their heads in the sand when it comes to pensions and would rather spend their money now. They think either; 1) they'll just keep working (which might be easier if you can work from home, but you can't work indefinitely, you'll get physically or mentally worn out at some point), 2) they'll get an inheritance - but how long will they have to wait, even if that inheritance isn't spent on old age care), 3) the State will help them, but a life on benefits is going to be pretty basic, with luck you will be warm and fed but you probably won't have nice holidays or be able to afford a car, or 4) they will die before they get old!
I have a net worth spreadsheet and update it every day (yes I know that's too often). But it does mean I can put a figure on my pension!
But do you have a cost spreadsheet too? No point in knowing what you have, if you do not know what you need.
I think one of the problems is getting information on the older schemes and the lack of transparency from certain providers. The new schemes are mostly online accessible for instant info.
You're right that it can be really difficult getting information from older schemes
I retired at 52 and wish I’d done it sooner. The 9-to-5 grind steals your freedom for a paycheck.[peanuts] btw my advice is If you’re in your late 30s or early 40s, start saving for retirement now, in your 50s? Invest now and break free from relying on your job. Market trends like the Trump Effect have made millions for many including me. Stay focused and consistent!
Exactly My point! The 9to5 grind is just not worth it the stress and low payoff. What specific steps did you take to break free?
Working with Lorrie Greta Hillard , a financial advisor, was a game changer. She helped me refine my savings strategy, including retirement planning, and provided expert guidance on investments and budgeting to maximize my savings.
Got it! Thanks for the tip! I was curious, so I looked up Lorrie
So done with 9-5, its Depressing!
Great video. I was this person 8 yrs ago. I found 50k in a pension I'd forgotten about 😊😊😊😊
I can imagine that finding that £50k made all the difference at the time in terms of your future and still is.
@DianneSullivan yes it was like winning the lottery!!
It’s shocking how little effort people put into their own retirement planning. Too many people are blasé and just think “it’ll be fine” based on absolutely nothing whatsoever…
Yes, we had a switch over from DB to DC pensions and no, it isn’t taught in schools (it should be), but bloody hell, have the nous and wherewithal to own your own financial future.
There’s loads of education you can easily find on RUclips without too much effort, and yet, they can’t be bothered… it’s 100% their own fault!
Agreed. Yet these people will be in for an almighty shock when they finally retire ( if indeed they can? ). They will then go on to blame the Government as people normally do. Idiots!!
@@Banthah The amount of people I’ve met that say they’ll start their pension when they get to 50! Start at 20 and put in as much as you can afford and it’ll soon start to gain interest.
Too many people expect to be spoonfed by the state. There was an expectation when interest rates started going up and mortgages rose sharply that the government should have stepped in with handouts! People borrow more than they can reasonably afford in order to live a life that impresses their friends and neighbours.
I audit all my savings, investments & cashflow on the same date every month, and I check my apps more often (every few days - and every day for my S&S ISA) so I have a very clear handle on what I have.
And right now I definitely feel like there’s not enough in there. I didn’t get my first workplace pension til my early 30s so I have some catching up to do.
As previously mentioned on one of Diane's vids I retired at 59 that was 5 years ago. I noticed my pension pot with a large pension fund company was losing money every month because the market was bad so I decided to change my whole pot to a cash account and have been getting a nice tidy sum each month in interest for a few years so I'm glad I did it and although I lost a few thousand pounds overall because of the slump I'm in a better situation now plus I don't need to pay my financial broker who was in a win win irrespective on how my account was doing. I will have enough money to get to my state pension age in 2 years time. From my experience I wouldn't trust the pensions markets these days as I cant see the markets doing well in the world we now live in.
How foolish. Cash is where your wealth goes to die….
Wow, your goal of just getting your pot to last to State Pension was misplaced. While interest rates have gone up in recent years, just look at the returns Stocks and Shares ISA (S&P500) have returned since Covid. You missed out
Ridiculous
Is it work place pension safe? Is it guaranteed by government if my provider will lose the money?
I was for 20 years in a defined contribution pension, I changed jobs and was very lucky to then have a defined benefit pension. I decided to transfer my DC pension into my DB pension. So now I'm ready to retire it's just one pension which is DB. Not sure what relivence my pension pot has, only regarding the lump sum I guess as my pension salary is worked out by a formula. Am I right thinking this?
Your DB terms will be specific to you so ask your employer/owner of your DB to provide you with the details.
As Diane says check with your employer. There is no pot with a DB scheme just some options for taking an income and/lump sum at retirement, But you are allowed to build up a separate pot by opening a personal pension that you can operate alongside your own scheme.
Dianne, Last evening I watched one of your excellent videos regarding taxation in Portugal compared with the UK for those considering relocating to Portugal. I can no longer find that one, so has this been removed?
Regards
I have a SIPP and the service charge is £2000 per year and pay in £240 a month and the pension has been stagnant for a few years now
£2000 per year is a lot! At 0.1% that would mean you have £2,000,000 in your SIPP.
@ not as much as that but is definitely 2% per year being charged
@@peterkelly5672 That's a huge fee. Several SIPP providers cap their charges if you have larger pots. I'd really look at other providers if i was in that position to see if another provider could offer lower costs but still provide a great service with all the facilities you would want.
@@peterkelly5672You need to change provider. My SIPP is 0.07 to 0.22% depending on funds invested. You are seriously getting ripped off.
比特幣隨時會崩盤！！！
Even worse, less than 1 in 4 know how much it costs them to live as they do. Everyone now has access to a spreadsheet- why aren't you using one? No point in knowing what you have in your pension pot if you do not know how much you will need. If you do not run a spreadsheet on your finances, start- today. Example of benefits- inflation. Everyone knows that it is important for financial planning, but most think it is the published figure. No. Your inflation figure is unique, and a spreadsheet will give you that number. I was shocked at how much lower mine is- and that allowed me to retire earlier- much earlier. Take control.