Yes. Thar's why I'm so glad I lived frugally all my life. Rarely took vacations. I lived in and fixed up old homes to minimize my mortgage expenses. I worked in a job I hated until age 65. Then, I waited until 68.5 to claim social security. Now, luckily, the monthly social security pays for all my fixed living expenses. Unfortunately, most people don't learn how to manage money when they're young. Most don't believe in living frugally. And many then retire too early, before they're financially ready to do so. Very sad.
Thank you for the comment. Very possibly. Data is difficult to obtain. I have been following the issue for a while and the estimates were 6.6 just a couple of years ago. 8.8 million of 55 million is 16%...pretty substantial. It is also getting worse for the very reasons I have outlined. Just terrible! The Recession will take a terrible toll. Michael Douville
The collectivists retired me in my 40s. I guess they thought I was too threatening to their slave tactics, and that I needed to have my nose rubbed in the dirt for the rest of my life.
Very nice job covering the basics. I am sharing this not to brag but to show what’s possible. I’m retired and I have 2 separate portfolios. One is a long term growth dividend portfolio of stocks where i sell covered calls strategically and my 2nd portfolio is the Crypto trading strategy where its all about income. This year I am on pace to make $120K in realized options profits and around $869K in crypto profit... What is great is that my long-term portfolio is still up significantly as well. As such, it’s possible to generate excellent income but still have a total return perspective. ...Amidst this, the insights of a knowledgeable guide like that of Expert Evelyn Infurna can be crucial. Her expertise in navigating the nuances of trading has been the key for Me understanding and making the most of these emerging financial trends.
New survey has revealed rising adoption of cryptocurrency among the world billionaires, as they start experimenting in the digital currency, expanding their investments portfolio beyond traditional profitable assets.
Evelyn Infurna is the CFA I use and im just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
I've heard nightmare stories of people leaving their property's to be managed. You have to find the right management company's to do this. It takes time to find those people.
Thank you for the comments. Amen to that! I use several property management companies that are excellent. They are Property Mangement Companies whose focus is Property Management not Real Estate agents that handle a few rentals. I have one excellent company that has handled properties for me for over 30 years..... Michael Douville
Did not save.. did not invest… spent money on vacations and alcohol, cigarettes, tattoos and new cars every few years and now it’s someone’s fault and they want a free handout… so sick and tired of “ It’s a problem”!
We must focus on Personal and Financial responsibility, some assistance maybe given But ultimately adults must assume most of the responsibility for their circumstances.
I'd be in poverty myself except for my boomer mother dying, between liquidating her overvalued house and her hoard, we came out with $100k buffer each; it sure doesn't last long.😢 another two years I'm flat. 😢
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.... I believe that banking institutions are more dangerous to our liberties than standing armies.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." - Thomas Jefferson
This is why I don’t listen to those RUclipsrs who retire at 50 and say everything is great. Yes everything is great in the first 7-8 years but decades follow. Prices increase. My general rule is men should start retiring at 55 (if they have a physical job) because lifespan is shorter. Women should not retire before 63-64. They also live longer.
Great thoughtful comments. Yes, I too believe we as a Society are retiring too early. So many get bored and so many spend their Nest Egg. 60-70 is still the highest earning years. I agree, slow down, but do not stop. Michael Douville
At 75 I live only on Social Security and different gigs. Recently published a book and marketing it is something I am learning. I don't need a lot of money to eat healthy, drive a used car, don't take luxury vacations. If I had a lot of money to manage or worry about it would make my life F***ing miserable - know what I mean. So honestly, don't worry your pretty little head about us po folks. We see you and we are not impressed. We know better.
Thank you for the comments. Social Security was never meant to be cover all of ones living expenses, rather a supplement. Originally, families and couples were more self-sufficient. Today, I consult with those looking to build a retirement and the successful retirees have something in common........very little if any DEBT! Living FREE and CLEAR takes away a lot of stress and it requires way less Income to live very well. That is why, the strategy of just 2 works so well, Debt reduction is the other half!!!!! Michael Douville
Dollar loses half its value every 12 years, think your house rose in value, wrong, house appears to be worth more because dollar lost value. Let this be a lesson for young peoplanning on their future, if they live on $50k now they will need $100k 12 years from now to maintain same lifestyle. $200k in 24 years, $400k in 36 years. S person living on $50k now will need $10 million 40 years from earning 4% producing $400k a year to maintain current lifestyle. Cant fight math.
You younger folks, make your 401k a priority. No excuses. Intersting fact: according to my social security account, since 1974, just under $.5m has been paid in SS taxes by me and my employers. Imagine if all that could have gone into the S&P 500. At least $5M now. Basically just thrown away.
It's not for most folks but you can retire to a country in South East Asia and live well on social security or a small pension. Yes, you will leave family, friends and the life you have known and embark on a new journey in your last season of life, but for me it was more than worth it. It's about finding value and being a good steward of my retirement assets. The home I sold before I moved the annual property tax now is in excess of $6000. Five hundred monthly tax on a home that was paid for with taxed money.
While I’m sympathetic to some of these folks it’s hard to feel sorry for folks who made poor financial decisions starting early in life with failing grades in school ; bad marriages; lousy choices in career paths and the list goes on and on. I didn’t have much to start with; made some bad decisions early in life; but learned fast. That’s the country we leave in. You’re responsible for your own situation. It’s called “Freedom”.
Even when you planned remember how many stock crashes there were? Remember the 2008 great steal of peoples home equity and pensions and 401 Ks? We are all expected to work till we die.
@ a lot of boomers say otherwise and a lot of boomers aren’t that spiteful. Just tired of people saying millennials are lazy and that’s why they can’t buy homes or etc.
Yes. Thar's why I'm so glad I lived frugally all my life. Rarely took vacations. I lived in and fixed up old homes to minimize my mortgage expenses. I worked in a job I hated until age 65. Then, I waited until 68.5 to claim social security. Now, luckily, the monthly social security pays for all my fixed living expenses.
Unfortunately, most people don't learn how to manage money when they're young. Most don't believe in living frugally. And many then retire too early, before they're financially ready to do so.
Very sad.
Only 8.8 million? I'm sure the real number is substantially higher.
Thank you for the comment. Very possibly. Data is difficult to obtain. I have been following the issue for a while and the estimates were 6.6 just a couple of years ago. 8.8 million of 55 million is 16%...pretty substantial. It is also getting worse for the very reasons I have outlined. Just terrible!
The Recession will take a terrible toll.
Michael Douville
@michaeldouville690 What's worse is the fact that the people younger than this retiring generation will never be able to afford retirement either.
The collectivists retired me in my 40s.
I guess they thought I was too threatening to their slave tactics, and that I needed to have my nose rubbed in the dirt for the rest of my life.
Double or triple at least,
@AmericanFarmerHVAC2024 In another two or three years, I'll be making my appointment at Soylent 💀
Very nice job covering the basics. I am sharing this not to brag but to show what’s possible. I’m retired and I have 2 separate portfolios. One is a long term growth dividend portfolio of stocks where i sell covered calls strategically and my 2nd portfolio is the Crypto trading strategy where its all about income. This year I am on pace to make $120K in realized options profits and around $869K in crypto profit... What is great is that my long-term portfolio is still up significantly as well. As such, it’s possible to generate excellent income but still have a total return perspective. ...Amidst this, the insights of a knowledgeable guide like that of Expert Evelyn Infurna can be crucial. Her expertise in navigating the nuances of trading has been the key for Me understanding and making the most of these emerging financial trends.
New survey has revealed rising adoption of cryptocurrency among the world billionaires, as they start experimenting in the digital currency, expanding their investments portfolio beyond traditional profitable assets.
I heard her strategies are really good, How do I reach your Coach/mentor.
Evelyn Infurna is the CFA I use and im just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
Infurnaevely1 she’s verified
This is helpful, thanks ....gotta message her right away.
I've heard nightmare stories of people leaving their property's to be managed. You have to find the right management company's to do this. It takes time to find those people.
Thank you for the comments. Amen to that! I use several property management companies that are excellent. They are Property Mangement Companies whose focus is Property Management not Real Estate agents that handle a few rentals.
I have one excellent company that has handled properties for me for over 30 years.....
Michael Douville
Did not save.. did not invest… spent money on vacations and alcohol, cigarettes, tattoos and new cars every few years and now it’s someone’s fault and they want a free handout… so sick and tired of “ It’s a problem”!
We must focus on Personal and Financial responsibility, some assistance maybe given But ultimately adults must assume most of the responsibility for their circumstances.
I'd be in poverty myself except for my boomer mother dying, between liquidating her overvalued house and her hoard, we came out with $100k buffer each; it sure doesn't last long.😢 another two years I'm flat. 😢
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.... I believe that banking institutions are more dangerous to our liberties than standing armies.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." - Thomas Jefferson
With this space, Trump has already announced plans for bank deregulation 😢
The Fed and fiat money are the problem. We need a stable currency.
This is why I don’t listen to those RUclipsrs who retire at 50 and say everything is great. Yes everything is great in the first 7-8 years but decades follow. Prices increase.
My general rule is men should start retiring at 55 (if they have a physical job) because lifespan is shorter.
Women should not retire before 63-64. They also live longer.
Great thoughtful comments. Yes, I too believe we as a Society are retiring too early. So many get bored and so many spend their Nest Egg. 60-70 is still the highest earning years. I agree, slow down, but do not stop.
Michael Douville
At 75 I live only on Social Security and different gigs. Recently published a book and marketing it is something I am learning. I don't need a lot of money to eat healthy, drive a used car, don't take luxury vacations. If I had a lot of money to manage or worry about it would make my life F***ing miserable - know what I mean. So honestly, don't worry your pretty little head about us po folks. We see you and we are not impressed. We know better.
It’s going to be this way and worse for the younger generations.
not really as we are not daft enough to work full time and pay into the system. ive been part time since 2014.
-wow. ive been part time for 10 years. i only just realised when i typed it !!
Thank you for the comments. Social Security was never meant to be cover all of ones living expenses, rather a supplement. Originally, families and couples were more self-sufficient. Today, I consult with those looking to build a retirement and the successful retirees have something in common........very little if any DEBT!
Living FREE and CLEAR takes away a lot of stress and it requires way less Income to live very well. That is why, the strategy of just 2 works so well, Debt reduction is the other half!!!!!
Michael Douville
The wheel is always turning 😂
@puppets.and.muppets mommy tired of you living in her house yet?😂😂😂
I wish to go out at 65! When i am still moving
Dollar loses half its value every 12 years, think your house rose in value, wrong, house appears to be worth more because dollar lost value. Let this be a lesson for young peoplanning on their future, if they live on $50k now they will need $100k 12 years from now to maintain same lifestyle. $200k in 24 years, $400k in 36 years. S person living on $50k now will need $10 million 40 years from earning 4% producing $400k a year to maintain current lifestyle. Cant fight math.
You younger folks, make your 401k a priority. No excuses.
Intersting fact: according to my social security account, since 1974, just under $.5m has been paid in SS taxes by me and my employers. Imagine if all that could have gone into the S&P 500. At least $5M now. Basically just thrown away.
It would have been thrown away half a dozen times already 😢
Good job
Thank you. When the Economy turns down, many American Elders will be in serious trouble.
Michael Douville
It's not for most folks but you can retire to a country in South East Asia and live well on social security or a small pension. Yes, you will leave family, friends and the life you have known and embark on a new journey in your last season of life, but for me it was more than worth it. It's about finding value and being a good steward of my retirement assets. The home I sold before I moved the annual property tax now is in excess of $6000. Five hundred monthly tax on a home that was paid for with taxed money.
I agree and I just bought a ticket
@@DrLusEnglish Good luck and enjoy the journey.
That's changing fast,
My new guy
the boomers golden run is crumbling.....
So is everyone else's 😢
@@richardscathouse no because a dollar cant be lost. it can only change hands.
Fake news
Advertising, actually 😢
While I’m sympathetic to some of these folks it’s hard to feel sorry for folks who made poor financial decisions starting early in life with failing grades in school ; bad marriages; lousy choices in career paths and the list goes on and on. I didn’t have much to start with; made some bad decisions early in life; but learned fast. That’s the country we leave in. You’re responsible for your own situation. It’s called “Freedom”.
Thanks, holy father, 🙏
Pay me or be poor?
Typical con-artist 😂
Half American will retire poorly.
1% of Americans will retire at all. SSI is instant poverty for 90% of Americans. 😢
@ wow! Really that bad?
Gold, silver, crypto!
Leave out the crypto scam for oldies. Even though i have done very well, i'm out now.
@craighaydcore btw I'm 72
why crypto. its just a shared bank account ?
Are there any other fairy tales you want to vent about? 😢
@puppets.and.muppets It's not even that,
👀
Even when you planned remember how many stock crashes there were? Remember the 2008 great steal of peoples home equity and pensions and 401 Ks? We are all expected to work till we die.
You literally did it to yourselves. I got out of the market in 87 after the S & L disaster. And never looked back. 😢
But I keep hearing the USA is the greatest country in the world🌎 😮😮😮???
Disney and the US government propaganda has been ceaseless 😢
IM GOING TO FIND A NICE LADY TO HELP...
You will be sorry.
make sure she's naive as can be and has no interest in politics or law, and can't stand lawyers
Don't hold your breath, they're all poison 😢
Just blame it on the millennials
Thank you for the comments. I like Millennials; they are awesome!
Michael Douville
@ a lot of boomers say otherwise and a lot of boomers aren’t that spiteful. Just tired of people saying millennials are lazy and that’s why they can’t buy homes or etc.