To achieve a secure retirement, aiming to save at least 15% of your income in a 401(k) is advisable. Online tools can assist in calculating the best savings strategy for you, considering factors like age and income. Consistently saving this percentage can help build your retirement fund effectively, thanks to the benefits of compound interest.
Keep it simple, buy things you understand, take some risk but don't try to shoot the lights out. I currently have 75% SCHD and 25% ROTH IRA. Brokerage account is 40% VOO, 35% SCHD, 25% XLK. Combine balance ~$3.3m Less than 3 years until retirement.... I have about 400k in cash. My portfolio has yielded far more than I expected for my retirement. Kudos to my advisor.
Tell me about it. My 401k? Practically useless right now. I’ve got over $500k in there, but with everything going on, I’m wondering if I should just cash out and figure something else out. I’m getting closer to retirement, and the idea of relying on that fund is stressing me out.
@@LeavensasMoras Well it seems like a lot of your interest is riding on your source, I could really get well accustomed to your viewpoint, get me involved.
That's quite remarkable! I'm genuinely interested in benefiting from the guidance of such experienced advisors, especially considering the current state of my struggling portfolio. May I know the names of the advisors who has been assisting you in navigating these financial challenges?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with *MONICA AYAKO VOS* for about five years now, and her performance has been consistently impressive.
I love the way you explain this! We're in our early 60's, husband just retired, and I'm thinking that instead of Roth conversions, we should just spend more this year! Although I've thought if we convert, at our age, since we've had Roth accounts for decades, we could just pull it out of Roth when we need more for big expenses.
Good video. Your apple stock example is a good one except you never know what a stock will do. If all equities are down that is one thing but If an individual stock goes from 10 to 5 it could go from 5 to zero just as easily as going from 5 to 10. I do get the point being made though.
I am getting ready to retire 2025,I will be 63 and can work longer to put money in saving, my advisor has never explain nothing,I supposed as long they making money they don't care
Does it makes sense to consider military retirement pay and VA disability as “forced income” like an RMD? Military pay is taxable. VA disability is NOT taxable.
Great video Ari! Due to my asset allocation and location, my Trad IRA is all bonds. Since I still want to lower my pre-tax balance by doing Roth conversions, I was wondering what your thoughts are in terms of doing conversions for many years before RMDs (15+ years) which would probably just maintain the current IRA balance by only converting the interest and little growth from the bonds, or if I should switch to equities in the IRA in hopes for a downturn to convert to Roth at that time a much more significant portion (%) of my IRA. I assume that drastically changing my asset allocation temporarily for this purpose may not be a good idea, but I am curious to hear your thoughts. Thanks.
If you aren’t really close to where you would start itemizing deductions, would you wait until 2026 to create a donor advised fund for charity because the standard deduction is also scheduled to go down? (That is what I’m currently planning) Actually Roth conversions in the 24% bracket with IRMA considerations in 2024 and 2025 then combine Roth conversion with donor advised fund donation to keep the 2026 (and beyond) in the 15% brackets.
That's what I was curious about. Was guessing it depends on the election this year. Of course , one side wants to tax a ton more throughout the brackets , not just the ultra wealthy like implied. So it's curious if there's a possibility they won't change.
I wouldn’t be surprised if Congress didn’t raise the tax brackets. That would be giving themselves a pay cut, in essence. Instead, they may propose some spending cuts.
I'm more interested in what I want than what a CFP wants. And why do sales people ALWAYS use their first name when speaking about others addressing them . . . Ari?
And the meanest retirement planner makes us listen to 5 minutes of dribble before he gets to the point. Just in time for me to loose interest in this video.
You mean the same Trump who pushed thru an Individual Tax Cut that would will expire....... but allow Business tax cuts to continue??? God forbid you allow yourself to second guess the decisions of Daddy Trump
Your comments about life, and life strategies, and how that’s the dog that should wag the tax strategy tail, are spot on! Thank you for these videos!
Glad it was helpful!
To achieve a secure retirement, aiming to save at least 15% of your income in a 401(k) is advisable. Online tools can assist in calculating the best savings strategy for you, considering factors like age and income. Consistently saving this percentage can help build your retirement fund effectively, thanks to the benefits of compound interest.
Keep it simple, buy things you understand, take some risk but don't try to shoot the lights out. I currently have 75% SCHD and 25% ROTH IRA. Brokerage account is 40% VOO, 35% SCHD, 25% XLK. Combine balance ~$3.3m Less than 3 years until retirement.... I have about 400k in cash. My portfolio has yielded far more than I expected for my retirement. Kudos to my advisor.
Tell me about it. My 401k? Practically useless right now. I’ve got over $500k in there, but with everything going on, I’m wondering if I should just cash out and figure something else out. I’m getting closer to retirement, and the idea of relying on that fund is stressing me out.
@@LeavensasMoras
Well it seems like a lot of your interest is riding on your source, I could really get well accustomed to your viewpoint, get me involved.
That's quite remarkable! I'm genuinely interested in benefiting from the guidance of such experienced advisors, especially considering the current state of my struggling portfolio. May I know the names of the advisors who has been assisting you in navigating these financial challenges?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with *MONICA AYAKO VOS* for about five years now, and her performance has been consistently impressive.
Excellent advice on tax strategies to open thought processes. I will check out more of your videos and get that knowledge transfer, thanks Ari
Thanks Mike!
I love the way you explain this! We're in our early 60's, husband just retired, and I'm thinking that instead of Roth conversions, we should just spend more this year! Although I've thought if we convert, at our age, since we've had Roth accounts for decades, we could just pull it out of Roth when we need more for big expenses.
Good video. Your apple stock example is a good one except you never know what a stock will do. If all equities are down that is one thing but If an individual stock goes from 10 to 5 it could go from 5 to zero just as easily as going from 5 to 10. I do get the point being made though.
I am getting ready to retire 2025,I will be 63 and can work longer to put money in saving, my advisor has never explain nothing,I supposed as long they making money they don't care
Can you discuss the 5-year rule for Roth conversions?
Have a video coming out on a soon!
Thank you, I look forward to it! I’m enjoying your channel!
@@toddmaniatoddmania9844 I’m so glad!
Does it makes sense to consider military retirement pay and VA disability as “forced income” like an RMD?
Military pay is taxable. VA disability is NOT taxable.
hedge your bets. never keep all your money in one basket. tax laws are so complex that there will always be ways to pivot strategies.
Dynamic approach!
Great video Ari! Due to my asset allocation and location, my Trad IRA is all bonds. Since I still want to lower my pre-tax balance by doing Roth conversions, I was wondering what your thoughts are in terms of doing conversions for many years before RMDs (15+ years) which would probably just maintain the current IRA balance by only converting the interest and little growth from the bonds, or if I should switch to equities in the IRA in hopes for a downturn to convert to Roth at that time a much more significant portion (%) of my IRA. I assume that drastically changing my asset allocation temporarily for this purpose may not be a good idea, but I am curious to hear your thoughts. Thanks.
Thanks Ari, the video was very helpful!
If you aren’t really close to where you would start itemizing deductions, would you wait until 2026 to create a donor advised fund for charity because the standard deduction is also scheduled to go down? (That is what I’m currently planning)
Actually Roth conversions in the 24% bracket with IRMA considerations in 2024 and 2025 then combine Roth conversion with donor advised fund donation to keep the 2026 (and beyond) in the 15% brackets.
Not a bad idea :)
Isn't there a possibility that the brackets won't change if they renew that law or whatever so it doesn't sunset?
Yes! Always a possibility. I like to plan for worst case, and smile if best case :)
Congress always has their own interests in mind. Tax legislation always seems to get expedited, especially tax cuts.
That's what I was curious about. Was guessing it depends on the election this year. Of course , one side wants to tax a ton more throughout the brackets , not just the ultra wealthy like implied. So it's curious if there's a possibility they won't change.
I wouldn’t be surprised if Congress didn’t raise the tax brackets. That would be giving themselves a pay cut, in essence. Instead, they may propose some spending cuts.
But who knows? The trump tax cuts could be extended beyond 2025. We don't know for sure that the brackets are changing
I'm more interested in what I want than what a CFP wants. And why do sales people ALWAYS use their first name when speaking about others addressing them . . . Ari?
I would love to hear this: "benefit me more financially to STOP working"...... that would be the genie in the bottle.
ruclips.net/video/4qcC-rZ3JKo/видео.htmlsi=yUCdYRB9bNOegUum
This dude is gonna feel real silly when Congress extends the cuts and nothing changes.
And the meanest retirement planner makes us listen to 5 minutes of dribble before he gets to the point. Just in time for me to loose interest in this video.
Thank you for the feedback
Hopefully Trump will turn it around
You sound smart.
You mean the same Trump who pushed thru an Individual Tax Cut that would will expire....... but allow Business tax cuts to continue??? God forbid you allow yourself to second guess the decisions of Daddy Trump
Tax rates will have to rise at some point, if not in 2026. Both parties have a deficit spending problem.
“Deficits don’t matter.” - Dick Cheney
@@DJohnson-od6ojexactly this.
People are so easily conned by charismatic narcissists, it's a shame.