I can't believe I'm turning 60 next month! It feels like just yesterday I was fresh out of college, full of dreams and ready to conquer the world. Now, here I am, staring down retirement
The points you're making in your video are good ones. I think it likely that you mean 'multiverse' rather than 'metaverse' to refer to alternate scenarios playing out.
Great video as always from Oak Harvest! I would assume a discussion point with the client is how did they arrive at the $80k spending?! To have that level of spending during their working years, they would need to gross, what, ~$130K per year (state and tax situation dependent). Just difficult to see how earning $130K, you only manage to have $500K in investments. But with a $600K house, they are technically a millionaire and might feel as those they 'deserve' to spend $80K a year. I completely realize this isn't a complete retirement planning process, it's an example to highlight a topic, but do you all have conversations with clients that are basically: "you don't have enough money to have that level of spending"? It's a hard conversation that I have with clients regarding their daily/weekly/monthly budgets. I am certain financial planners at Oak Harvest have those difficult conversations with clients because you care about their long-term financial well-being. Thanks again for all your great videos!
Retirement planning is complex. Flexibility is key. Unexpected expenses happen. Having a plan B is crucial. Consider consulting a financial advisor to create a personalized strategy. Remember, retirement is a new chapter, not the end of the road. Enjoy it.
@@OakHarvestFinancialGroup You're welcome. Retirement is definitely a journey, and having a flexible plan can make all the difference. Thanks for the insightful video.
Hey @FroggyTWrite! With annuities, you can lock-in today’s high interest rate environment for the rest of retirement and generate significant amounts of income while allocating less capital with no market risk or uncertainty. Taking a portion of your retirement assets to do so can alleviate the need to withdrawal from your stocks, leaving it to potentially grow longer untouched. In addition, this strategy helps to insure against markets not cooperating by providing a baseline of income to couple with Social Security. That’s a very attractive proposition to millions of people that don’t receive paychecks anymore and just want to enjoy retirement without the volatility of the stock market dictating their income payments. Just like you don’t use a fork to eat soup, you don’t use a fixed indexed annuity to combat inflation. Luckily, you get a fork, spoon and knife normally when sitting down for dinner. It’s kind of the same when you allocate retirement capital.
It seems as though the approach of beginning the lower SS account immediately and holding off on the larger till age 70 should be investigated ... seems unlikely that both would make it 30 years ...
We cannot provide opinions on specific investments via this platform. Generally speaking, utilizing this strategy with a portion of your retirement assets may be suitable. The main consideration: although this is considered a conservative strategy, there remains no guarantees that you will not have to tap principal. This is why your investment allocation should be closely tied to your overall, retirement income plan. You can visit our investment teams RUclips channel: www.youtube.com/@OakHarvestStockTalk Thanks for watching (and your question).
just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
Very true. Despite having no prior investing knowledge, I started investing before the pandemic and pulled in a approximately $950k that same year. In reality, all I was doing was getting professional advice.
How can I participate in this? I sincerely aspire to establish a establish a secure financial future and I am eager to participate. who is the driving force behind your success?
Thank you for your question. Yes! We are big proponents of always maintaining a ‘cash reserve’ fund. This is particularly true when in retirement. This is not only in case of economic downturns, but for any other ‘unplanned expenses’. This way you not only have funds you can easily access, but you also possibly eliminate the risk of selling your investments at an inopportune time.
Let’s see. Less than 9% of American households have a net worth of a million and only 3.2% of retirees have a million or more so the overwhelming majority of Americans retire with under a million. I believe the average and median savings for retirees is well under 300k so this video is fairly realistic.
I can't believe I'm turning 60 next month! It feels like just yesterday I was fresh out of college, full of dreams and ready to conquer the world. Now, here I am, staring down retirement
Happy early birthday, Muriel! We're excited for you to begin your retirement journey soon!
The points you're making in your video are good ones. I think it likely that you mean 'multiverse' rather than 'metaverse' to refer to alternate scenarios playing out.
Thanks for watching, Samuel! Yeah, that's what I meant. :)
Great video as always from Oak Harvest!
I would assume a discussion point with the client is how did they arrive at the $80k spending?! To have that level of spending during their working years, they would need to gross, what, ~$130K per year (state and tax situation dependent). Just difficult to see how earning $130K, you only manage to have $500K in investments. But with a $600K house, they are technically a millionaire and might feel as those they 'deserve' to spend $80K a year.
I completely realize this isn't a complete retirement planning process, it's an example to highlight a topic, but do you all have conversations with clients that are basically: "you don't have enough money to have that level of spending"?
It's a hard conversation that I have with clients regarding their daily/weekly/monthly budgets. I am certain financial planners at Oak Harvest have those difficult conversations with clients because you care about their long-term financial well-being.
Thanks again for all your great videos!
Retirement planning is complex. Flexibility is key. Unexpected expenses happen. Having a plan B is crucial. Consider consulting a financial advisor to create a personalized strategy. Remember, retirement is a new chapter, not the end of the road. Enjoy it.
Thanks for commenting, Damon! You bring up some important points!
@@OakHarvestFinancialGroup You're welcome. Retirement is definitely a journey, and having a flexible plan can make all the difference. Thanks for the insightful video.
this is more realistic
Thanks! :)
thought annuities were mostly a bad idea? they don't have any cost of living increase and you basically always lose buying power and get no growth
Hey @FroggyTWrite! With annuities, you can lock-in today’s high interest rate environment for the rest of retirement and generate significant amounts of income while allocating less capital with no market risk or uncertainty. Taking a portion of your retirement assets to do so can alleviate the need to withdrawal from your stocks, leaving it to potentially grow longer untouched. In addition, this strategy helps to insure against markets not cooperating by providing a baseline of income to couple with Social Security. That’s a very attractive proposition to millions of people that don’t receive paychecks anymore and just want to enjoy retirement without the volatility of the stock market dictating their income payments. Just like you don’t use a fork to eat soup, you don’t use a fixed indexed annuity to combat inflation. Luckily, you get a fork, spoon and knife normally when sitting down for dinner. It’s kind of the same when you allocate retirement capital.
It seems as though the approach of beginning the lower SS account immediately and holding off on the larger till age 70 should be investigated ... seems unlikely that both would make it 30 years ...
What are your thoughts about using covered call etfs like JEPI and JEPQ to create a monthly income stream and not have to tap your principal.
We cannot provide opinions on specific investments via this platform. Generally speaking, utilizing this strategy with a portion of your retirement assets may be suitable.
The main consideration: although this is considered a conservative strategy, there remains no guarantees that you will not have to tap principal. This is why your investment allocation should be closely tied to your overall, retirement income plan.
You can visit our investment teams RUclips channel: www.youtube.com/@OakHarvestStockTalk
Thanks for watching (and your question).
just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
Very true. Despite having no prior investing knowledge, I started investing before the pandemic and pulled in a approximately $950k that same year. In reality, all I was doing was getting professional advice.
How can I participate in this? I sincerely aspire to establish a establish a secure financial future and I am eager to participate. who is the driving force behind your success?
Do you agree that we will need a healthy savings account to supplement our income in economic downturns?
Thank you for your question. Yes! We are big proponents of always maintaining a ‘cash reserve’ fund. This is particularly true when in retirement. This is not only in case of economic downturns, but for any other ‘unplanned expenses’. This way you not only have funds you can easily access, but you also possibly eliminate the risk of selling your investments at an inopportune time.
Yes with a lot of cat food
Hmmmmmm.. not sure about that! Thanks for watching.
He would have to spend 19,230 a year yea good luck with that
Idk why people think they can retire under a million
Let’s see. Less than 9% of American households have a net worth of a million and only 3.2% of retirees have a million or more so the overwhelming majority of Americans retire with under a million. I believe the average and median savings for retirees is well under 300k so this video is fairly realistic.
No sir you can’t retire