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.
I liked your talk. First time listener. It was not too technical or complicated and not hard to understand like some listen to. I am 70&1/2 years old. I grew up in a social environment that distrusted Social Security. But at age 60 I had a couple of online advisors who showed me how good it could be. I waited until 70 to draw and lived on my small IRA from age 64&1/2 when I quit working until age 70. My Social Security checked started out at $4,051/month and will gain another $100 soon. With my $700 pension I can live on those two things alone. Both of those have a COALA attached So my annuities and stock market will not have to yield so much. Another nice thing for me was that Social Security is divorce proof. I was faced with a surprise divorce in my late 50s and it left me with half of my resources gone but a large debt to pay off. My house, savings, stocks and annuities were largely wiped out. But my Social Security is intact.
Thanks Dave, One of the benefits of listening to you Dave is you do get to the point right off and don’t drag out the banner header until the end! 👍🏽 We are in a three-bucket investing approach as you have advised. I have taken the past 40 years and average it out. We plan on a 1.6% increase annually in my budgeting along with a 3.2% inflation value. PS: NO annuities.👍🏽 Semper Fi!❤️🇺🇸
Thank you for the important information. Nowadays, no one knows these details... Today's kids don't understand that social security is not enough to live on. Again, thanks .
yes - thanks for quick update on estimated increase. More importantly, I appreciate the content about the 3 risk to retirement info - - very helpful as I plan for my retirement!
I'll believe it when i see it. Just like those stimulus checks that i didn't get. My SS has been the same amount since i started receiving it 5 years ago. Maybe some get it, but i dont. I watch these type of video's whenever i'm board . Like right now. You do make it sound more believable than the other youtubers that i have watched though. Good job.
@Streamline Financial - So what did that woman have in her conservative bucket that returned 3%? A common plan is to put several years of withdrawals in the conservative bucket in case they need to ride out a bad market. The choice is usually bonds. However, in the last several years, bonds performed just as badly as the stock market, making this strategy a failure.
How is the 3 bucket strategy any different than having a variety of mutual funds that spread risk? As long as you have funds that don’t overlap much. You can cash them out whenever you want.
$46 a month will buy you a $1 egg mc muffin per day while they are on promo via the mc donalds app. or a $1 large soft drink , large coffee or large iced coffee depending on the taxes. Or easily cover your $3 whopper on Whopper wednesday. Heck you might even just have enough to get your daily egg mc muffin and 4 $3 whoppers per month.
Your videos were great!! I am one of your viewers and have been watching your videos lately. I would like to invest, but I still can't find the right investment to commit to. I will appreciate any help here.
I'm new to trading, and I've lost a good sum trying out strategies I found in online tutorials. I would sincerely appreciate any recommendations you have.
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Thanks for getting to the answer in the first minute. So many people drag it out for as long as they can.
You’re welcome!
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.
I liked your talk. First time listener. It was not too technical or complicated and not hard to understand like some listen to. I am 70&1/2 years old. I grew up in a social environment that distrusted Social Security. But at age 60 I had a couple of online advisors who showed me how good it could be. I waited until 70 to draw and lived on my small IRA from age 64&1/2 when I quit working until age 70. My Social Security checked started out at $4,051/month and will gain another $100 soon. With my $700 pension I can live on those two things alone. Both of those have a COALA attached So my annuities and stock market will not have to yield so much. Another nice thing for me was that Social Security is divorce proof. I was faced with a surprise divorce in my late 50s and it left me with half of my resources gone but a large debt to pay off. My house, savings, stocks and annuities were largely wiped out. But my Social Security is intact.
I DO appreciate when videos get to the point in the title and am more likely to listen to the whole video that way.
They need to raise the cap.
Thanks Dave,
One of the benefits of listening to you Dave is you do get to the point right off and don’t drag out the banner header until the end! 👍🏽
We are in a three-bucket investing approach as you have advised.
I have taken the past 40 years and average it out. We plan on a 1.6% increase annually in my budgeting along with a 3.2% inflation value.
PS: NO annuities.👍🏽
Semper Fi!❤️🇺🇸
Fantastic, JP!
Let me guess 2% COLA and a 20% inflation rate.........lovely
Also thanks for bringing up the 3 income risks.
You’re welcome!
Thank you for the important information. Nowadays, no one knows these details...
Today's kids don't understand that social security is not enough to live on. Again, thanks .
Thank you Dave , very helpful video .
yes - thanks for quick update on estimated increase. More importantly, I appreciate the content about the 3 risk to retirement info - - very helpful as I plan for my retirement!
Yes… Thank you for getting right to the point of interest!!😊
My pleasure!
Thanks for getting to the subject quickly. Great video.
Glad it was helpful!
Dave, I like all of your videos! Very informative, useful, etc.
Unfortunately, the increase doesn't match the rate of inflation.
It’s about time, given how inflation has been hitting us. Every little bit helps, but I’m not sure it’s enough to cover all the rising costs.
Thanks for giving me hope as I live on Social Security only.
Best of luck!
Thx for getting to the point upfront!
Good video - quick and to the point!
I'll believe it when i see it. Just like those stimulus checks that i didn't get. My SS has been the same amount since i started receiving it 5 years ago. Maybe some get it, but i dont. I watch these type of video's whenever i'm board . Like right now.
You do make it sound more believable than the other youtubers that i have watched though. Good job.
We do appreciate you getting to the meat of the video quickly. TikTok has greatly reduced my attention span these days.
lol. I hear you!
Appreciate that you chose not to bury the lede.
Thank you for the update.
My pleasure.
My bills went up by $50.00 already. Last year they waited at least until November.
Hope the checks will be twice a month ! If once a month , it’s a long wait!
You get the like button for not waiting around :) not that I even needed to know what the SS increase number is :D
Thank you!
Whatever raise we get, Medicare will get, plus some!
@Streamline Financial - So what did that woman have in her conservative bucket that returned 3%? A common plan is to put several years of withdrawals in the conservative bucket in case they need to ride out a bad market. The choice is usually bonds. However, in the last several years, bonds performed just as badly as the stock market, making this strategy a failure.
How is the 3 bucket strategy any different than having a variety of mutual funds that spread risk? As long as you have funds that don’t overlap much. You can cash them out whenever you want.
Thanks for the history.
$46 a month will buy you a $1 egg mc muffin per day while they are on promo via the mc donalds app. or a $1 large soft drink , large coffee or large iced coffee depending on the taxes. Or easily cover your $3 whopper on Whopper wednesday. Heck you might even just have enough to get your daily egg mc muffin and 4 $3 whoppers per month.
Your videos were great!! I am one of your viewers and have been watching your videos lately. I would like to invest, but I still can't find the right investment to commit to. I will appreciate any help here.
Not a fixed annuity. those are only with indexed or variable annuities.
Thank you!
My annuity stops interest if I start taking monthly payments. So don’t do an annuity!
I'm new to trading, and I've lost a good sum trying out strategies I found in online tutorials. I would sincerely appreciate any recommendations you have.
You get .0001 per cent of the true inflation rate anything u buy is not in the calculation
To help the SS solvency, they (congress) need to pay back the money that they stole from the SS fund! 😠
Now they say it's only 2.5% !!!!
End of the year? Um…NO!!! The increase WILL be known by OCTOBER 11th!!!
Annuities pay a whole 2% a year. What a joke. And too many fees ML
Government state of Florida deduction $174 dollar every month from my social security check for medical Insurance😭😭😭😭
The lower, the better. It means that inflation is less.
Great info on all points Dave