Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
You are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Sophia Maurine Lanting turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
I just turned 44 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I'm getting worried about retirement, my intention is to retire at 55. How best do I maximize my savings of over $220k
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk
I converted my 401k to a Roth IRA to avoid higher taxes in the future. I'd rather pay taxes now than be stuck paying taxes on my retirement income when I'm 59 and living off my savings
Pre-tax contributions may help reduce income taxes in your pre-retirement years while after-tax contributions may help reduce your income tax burden during retirement
Both have their perks but you can also save for retirement outside of a retirement plan, such as in an individual invstment account or employing the services of a retirement planner/investment advsr
Agreed, I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My Husband and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.
This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha...
Interesting. I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation..
I definitely share your sentiment about these firms. When I was starting out, I checked out a couple of freelance investors online, so you could do the same. I personally work with "Teresa L Athas”, and she's is widely recognized for her proficiency and expertise in the financial market. With a comprehensive knowledge of portfolio diversification, she is acknowledged as an authority in this field..
Thanks for sharing. i searched her full name and found her web instantly. After reviewing her credentials and conducting due diligence, i reached out to her.
The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.
Yeah, people miss that part. You don't jet out to Puerto Rico with your life savings. Proper investing and a good business acumen are big pluses. Invest in the stock market, real estate, build businesses. That's just it.
Safe to say not everybody has the skill to pursue investing. But it's always easy to follow the advice of someone who knows how to i.e a financial advisor. You could anywhere between 10--40k with the right ones. Online businesses are a good bet too if you are savvy.
Vivian Jean Wilhelm is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
I retired at 55 with $1.4 million in liquid assets and a paid-off property in Hawaii. Now at 57, I have $1.5 million and plan to sell the lot for $400,000. My budget has been $9,200 a month, but we’ve averaged $8,000 even with extensive travel and hobbies. I found similar results with my retirement planner, but I chose to leave a high-stress job. Historically, markets recover within six months to a year, so having one to two years’ worth of cash is wise. I’m considering travel health insurance to save on costs while living abroad part of the year. My main advice is to retire early and remain flexible, focusing on financial literacy and good financial advice.
Congratulations! You’re absolutely right! I’m also aiming to retire around 55 or 56. The importance of enjoying those early retirement years when you're most energetic can't be emphasized enough. It's crucial to enter retirement with a solid financial planner, a clear understanding of your actual expenses, and ideally, no debt. Being flexible with spending during market downturns is also key. I'm happy to hear you're enjoying your retirement, and I look forward to joining you soon!
We retired at 56 with $1.7M. All thanks to our CFA. We just reduced our spending habits a little and enjoy life!! WOW! What a difference. I didn't realize how long flowers bloom
@@HeydenWright Ximena Lorena Vaca has always been at the top of my list. She is considered very knowledgeable in her field and has a deep understanding of financial markets. I highly recommend her for a great partnership.
@@JadwigaMusch Thank you! I just looked up her name, and her website appeared. I checked her credentials and did some research before reaching out. Thanks once more!
From $7k to $45k that's the minimum range of profit return every week I think it's not a bad one for me , now i have enough to pay bills and take care of my family.
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Don't put all your eggs in one basket; instead, diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
Absolutely! A skilled coach helped grow my investments from $321k to over $750k, primarily through stocks, ETFs, and bonds. I anticipate housing prices will stay stable until more homes become available.
Julianne Iwersen Niemann is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
I retired at 53 now, 55. I have close to a six-figure portfolio, 70% income uk 🇬🇧 stocks, blue-chip companies, the rest in growth etfs sp500 nasdaq global technology, etc. I still like the growth aspect of investing but as my grandkids would inherit all this how best does all this get best managed for better returns?
My 401k went 100% in the S&P 500 when I started working in 1989. Left 100% alone till 2007 before it went to 666. Because of my 17 years in the 500, I was able to retire this year with $683k in the 401k (and a pension and rental income). There is no other way to retire before you are 70.
Absolutely! Wealth is made in growth investing . We aren’t in a bear market, but nibbling heavy red days has proven to be fruitful for me over 9 years of investing. I am at 2.25 mil. Biggest positions PLTR, TSLA, SCHD, NVDA, and now looking to build up DRGO alongside finding quality value/growth stocks to buy. I got $48k divs last year in taxable divs. Q3 taxable divs this year was $18,388 this year. Don't sell when the market is down. Having a skilled CFA that puts the time in to do in-depth research can be invaluable in strategizing your portfolio.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Amy Desiree Irish ” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my portfolio this red season. I’ve made over $250k since then.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
I’m 77 and still working full time. I do enjoy my work, it provides me with purpose and has secured my financial future. Most people are too eager to retire as early as possible. Even if you do retire early, best to get a part time job for the reasons cited above, as well as following many if not all of the suggestions in this video.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Thank you so much! This is exactly what I needed right now. I wrote her an email and am waiting for her reply. Hopefully, she responds soon. I plan to start the year on a strong financial note.
I think the people that should be worried are those of us who are retiring with less than a million. I have only 650k in my Roth and I don't know how to grow it.
I was in this same position a couple years ago. I was always anxious. I decided to start working with a financial advisor, and I started making a lot of monthly dividends that my anxiety disappeared.
Exactly my solution too, even though I'm not retired. As a contractor with limited time to analyze investments, I've relied on a fiduciary for the past seven years to manage my portfolio. This strategy has helped me navigate market fluctuations effectively and also increased my porfolio by up to 300%. You might consider a similar approach.
Yes indeed.... *Izella Annette Anderson* has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.
Those sound like great picks! consider financial advisory so you don’t keep switching it up, top 3 payers for the month were $OHI, $KMI, and $EDP... not bad for 350k
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 14.3%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an advisor.
I'm intrigued by this. I've searched for financial advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Retirement is no longer simply a time to enjoy life. For the middle class, it often means finding ways to make ends meet, possibly through investing in stocks. But when is the right time to invest? Some argue it can be highly profitable, while others caution against the risks. What do you recommend?
It appears there could be potential, but it's important to proceed with caution. I recommend consulting a financial advisor who can guide you on the best entry and exit strategies.
Having an investment advisor is the best way to go about the stock market right now. I used to depend on RUclips videos but it wasn't working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
You are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
Rebecca Lynne buie is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Most people don’t realise it, but the secret to retiring comfortably is finding a way to make returns while your money works for you. My dad, as I remember, started saving for retirement quite late, but I knew he was making more than 10k returns from his investment monthly and it was completely passive.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or bitcoin and stocks.
I invested 10k in Robin hood and 401k about a year ago and it steadily went down, now my portfolio is down to $800. I don't know what to do and i am in between jobs
@@Aimee966 Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances.
I’m Glad i stumbled on this. Please, if its not too much of a hassle for you, can you drop the details of the expertise that assisted you and how to get in touch….
@@rougeur This is the Fourth time I'm seeing someone talking about Susan as there are lot of testimonies about her on Facebook. Do you know her ? if yes , did you work with her?
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
Agreed, having a good financial advisor is invaluable, my portfolio is well-matched for every season of the market and has just yielded 120% from early last year. I and my advisor are working on a 7 figure ballpark goal, tho this could take another year.
mind sharing info of this person guiding you please? truly appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor
Can't divulge much, I delegate my excesses to someone of great expertise ''Nicole Ananstasia Plumlee"'preferably you can look her up on the web, her qualifications speak for itself.
excellent share, just copied and pasted Nicole Ananstasia Plumlee on the internet, spotted her consulting page ranked top and was able to schedule a call session. Ive seen commentaries about advisors but not one looks this phenomenal
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
The new American Dream = Work 2 Jobs and live in a Van/Car! Electricity bills doubled , food prices doubled , prices of homes tripled, with wages stagnant. I fear that I might never be able to have a home or even savings for retirement with the look of things.
Well said Thomas, People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks..
Thank you for sharing, I must say, Amber appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled
Accumulating money when in service could seem challenging, but surviving after active service without accumulating enough money is definitely more challenging. You will struggle to meet basic needs. Retirement choices determines a lot of things. My uncle and his wife spent over 20 in the civil service, his wife was investing through a wealth manager while my uncle through a 401(k). I think his wife is standing at the fruitful end of ritirement..
You're correct..!! Some fews years ago I pulled out my money and invested with my wife's private wealth manager. Though there is still a huge gap between my profit and hers because she started investing long before I joined , but at least I am earning more, my money has grown even more than it would with 401k. I am even making money before retirement.
Information is liberating, the absence of adequate information can be such a hurdle. I have been making $273k passively through a wealth advisor. No matter the state of the economy he always makes returns. And I am not even doing much.
Most firms prioritize their commission over clients profitability. So I prefer to work with private wealth manager like Jason Herman Pierce. He is a finance professinal, he develops personalized financial plans, manage investment portfolios and provide guidance on tax strategy, risk managment and real estate. My experience with him have been exceptional I must confess.
It's empowering to know that planning isn't just about numbers but also about envisioning the kind of life I want to lead. Thank you for demystifying financial planning and making it feel accessible. This talk is a nudge for me to start taking active steps towards my future financial wellbeing. ❤
Amazing content! I have been following your videos for sometime now, consistently kicking down Wall Street doors for two years now, I have over $320k in stocks. Currently, my portfolio is down by 15%. Wondering if they're any short term opportunities I can invest in.
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience.
Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I've been circling around the idea of retirement planning without really knowing how to approach it or how much I actually need to save for a comfortable life later on. Your discussion on balancing sufficiency with excess has given me a clearer vision on what 'enough' might look like for me. Thank you!
Yes you might say that but More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire without any investment. Retirement becomes truly fulfilling when you possess two essential elements: financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement. .
Only if a good amount of folks do what you teach, just imagine how many millionaires we already have or will have in the future. I have been looking at similar opportunities. As Warren Buffet noted, he has witnessed this occur frequently. Never did my husband and I make more money than others in the middle class. With a $250k stock portfolio, we intend to retire at age 58. Never have we ever sold even one share of stock...
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@DE-Burrows Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Munger and Buffett have both achieved an incredible feat with Berkshire. They've turned thousands to billions, and have made a lot of people wealthy in the process. I really saw the potential of the stock market by reading Berkshire's annual letters. I recently sold my $674k apartment in the Bel Air area and I'm hoping to throw it into the stock market. I just don't want to lose everything.
Who is the professional who is advising you, if you could perhaps tell us? As a novice investing in stocks without the correct direction of a professional, I have lost a lot of money.
In my early years I always rented homes/apartments with people to share costs. And when I saved enough to buy a home I rented out my spare room. Then I married someone who already owned a home and sold my place. The point is you can save a lot of money by sharing resources like transport and housing in your working years. I saved a load by not driving alone to work. These days probably draw up a roommate contract in case of deadbeats.
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
The general message is good. However the one piece I would add is educate yourself and manage your investment strategy, tax efficiency etc. you will save a lot in fees and feel much more in control of your own destiny.
Thank you for mentioning TAXES. He does not mention how to KEEP what you work and save for retirement. The government is going to get a cut. He does not mention forced distributions either. The real secret is keeping what you earn not what you save.
People who are able to retire early are lucky . I have 15 months till 65 and need to look at calling it quits, my only fear is running out of funds much later, thus keen on investing. What could be the safest possible ways to invest for cashflow, in order to afford lifestyle after retirement?
That's right. I am a wife, mother of four and new grandmother, 28 years in Corporate America, retired recently at 57 after discovering the freedom investing could provide, been contributing to my portfolio since the pandemic in early 2020, and have grown a $250,000 savings account to almost 1 million, credits to my investment advisor.
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 ‘’Melissa Terri Swayne” for about 4 years now, and her performance has been consistently impressive.
Thank you for this tip. It was easy to find your coach on web. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
The first real step is reach FI. Not necessarily retire, but knowing that at any given time you can. Every penny saved then can buy the extras, or you can trade these extra for extra time. More importantly your working attitude will change drastically. If you work because you choose to, you will likely live a much better life
From experience, the hardest part of building up the million is the first 100k. Once you get to the first 100k, each subsequent 100k is much easier and faster because of the compounding effect. The way I got to the 100k was to break it up into 5 years and set myself a goal to save 20k each year. To many even that may be difficult, but it is doable if you are on a reasonable income and are willing to cut back on luxuries for five years.
I completely agree! Breaking big goals into smaller, manageable steps is a smart strategy. It’s all about staying disciplined and making consistent efforts.
The 375 ignores the state pension, so you need less. Also factor for a 25% drop in expenses after 75. So this reduces what you need to save. How much do you need to pass on to children, if not much then you can eat into the capital and so reducing the amount needed to save. A good message that you need to save and in the most tax efficient way. But the figures quoted are excessive in my opinion. He is a finance person who will make a percentage on what you save so it's in his interest to get you to save more. I'm not saying don't save well into a pension but look deeper into this field to get a more realistic figure
In your first year of retirement you can spend 4% of your retirement savings. Thereafter you can raise that by inflation. So $1M produces $40k the first year.
@@StayPositive050like this and is the basis of my own retirement. Like the 375 rule also as this includes an assumed tax rate 👍🏻 Just need to ensure I die before 85! 😂
Australian superannuation funds have a minimum withdrawal rate of 4% of the annual balance up to age 65 increasing by 1% a year every additional ten years of age. For example a 76 year old has to take at least 6% of the EOY balance.
I'm curious, for someone with around $50,000 to invest, how would you recommend we enter the market? I am looking study some traders and copy their strategy rather than investing myself and losing money emotionally. What's your take on this approach?
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and {now I’m buying again.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Most people don’t realise it, but the secret to retiring comfortably is finding a way to make returns while your money works for you. My dad, as I remember, started saving for retirement quite late, but I know he was making more than $10k returns from his investment monthly and it was completely passive.
Not really. Approximately four years before to my dad's retirement, our family was introduced to a financial advisor. That was the catalyst for the transformation. I believe my retirement income would be on the right track because I've been using the same advisor.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
Hi Dennis, good morning! 🥰 I hope my comment didn’t come across as intrusive. Your words reflect the kindness and beauty of your heart, which moved me to respond. I don’t usually comment, but I believe you truly deserve this compliment. If you’re open to it, I’d love to be friends. Thanks, and God bless you! 🌺🌺🌺
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
I want my money to grow faster than inflation, which is why I’m exploring investment opportunities for my $333k retirement savings currently in the bank. However, I’m unsure about the best strategies to achieve solid gains and consistent cash flow.
Agreed, the role of advisors an only be overlooked but not denied. I was shocked that I made more money with investing than hard work, not even my CEO income. Earning ''return on investment'' fetched me millions within a space of 5 yrs.(But I still enjoy working)
Thanks for sharing. I searched for her full name, found her website immediately, reviewed her credentials, and did my due diligence before reaching out to her.
I'm a 52yrs Director in a Tech company and I consider myself a high income earner at $350,000 per annum, I have a retirement account account but i still want to explore opportunities for short term gains before i start working less in few years.
In my opinion, IRA is a valuable strategy for retirement planning, providing growth and tax advantages. While the market is promising, expert guidance is essential for portfolio management.
I learnt this when I got disabled from an accident, I had to reach out to a financial planner who devised a plan for me to live off dividends from my investments. Other than Disability Cheque, I earn enough from home and live comfortably with her help.
Finding financial advisors like vivian jean wilhelm who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thanks for this tip. Her website popped up on the first page immediately I searched her, I read through her resume and it seems pretty tight. So, I dropped a message & hopefully she replies soon.
For anyone contemplating their future retirement, my advise from someone that has just reached their retirement goal and retired. Automate your retirement savings. Every time you get a payrise put a percentage of the raise into your retirement account. It is money you never had, you have been living on the lower amount so keep living on it. You will be grateful for the small sacrifice at the end of your working life.
The very first step in personal finance is knowing your net worth. There are free apps for determining this. You should know your own personal balance sheet (point-in-time net worth) and your personal income statement (what you keep monthly after expenses). If both of these are 1) positive and 2) increasingly positive over time you're heading in the right direction.
Agreed. Knowing your net worth is a great start. Being clear on your financial reality-your income versus expenses each month-empowers you to then put a solid plan in place for the future.
Recently, I've been pondering retirement. I've also want to put $300K into the stock market but i need an approach that will align with my risk tolerance and financial goals to secure our future
Opting for an inves-tment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2022
NYCOLE CHRISTINA VANNATA a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
@imohimoh3441 The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
Quite true! You don't necessarily need to be a flawless investor; all you need to do is seek advice from an expert. I began investing in 2020 and pulled a profit of roughly $900k that same year despite having no prior investment knowledge.
this is huge! mind if I look up the consultant that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
Impressive, i’ll most definitely check her out. I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.
I got the goldon ticket (the state pension) 12 years ago. It is not much around $900 a month but it is all I and my family need. I also have a cash cusion of $60 K, some land , no debt and a cheap home. I have a simple life with no wories. How is that possible I hear you ask. Easy I live in a third world country.
@@StayPositive050 I'm not so sure. In 2004 - 20 years ago - I earnt just above 3500 per month. At the time it was a great wage. It still is today 20 years on. Maybe not *as* great, but still great!
@@StayPositive050 The 4% rule, which this 375 rule is based on, adjusts for inflation. The ideal is you can take 4% out in your first year, and in the 2nd year you take 4% x inflation out the next year, and so on
Outside of expensive metro areas, like London, you can have a comfortable life on just £2,000 a month (if you outright own your home).Some people may not even need that much if their homes are small and use less energy, and if they don't own a car, etc.
Amyr, sua apresentação é algo que vem para chacoalhar nossa situação enquanto residentes no UK. Algo para ajudarmos criando um alicerce para atingirmos o objetivo de £1.3 M. Fácil? Jamais. Porém possível, se começar no momento certo. Muito obrigado e parabéns.
Agreed - over the last few years I’ve really started paying attention to my financial life and presentations like this are a great reminder of being proactive about building my financial future. 👍
The world in which the 4% rule was working, does not exist anymore. Central banks money creation and Gov spending have led to an unstable financial system. Money creation (debt) is going exponentially, impossible to sustain. Gaining scarce assets is the only way to secure some sort of retirement income, but even that is no certainty. Better is to prepare to live on less, minimize your lifestyle needs. Happiness does not need to cost a lot.
@@barryyoung Don’t feel sorry for me, I was raised on a council estate, also have dyslexia, ADHD, plus I’m on the autistic spectrum (Asperger’s). Fortunately my son does not suffer with any of these conditions.
He touched slightly on it (and I mean by only mentioning it by saying go talk to someone else...) but $3500 a month will get you just about nowhere in 30 years. I've talked to multiple bankers and financial people and they've all said right now if you want to retire 'comfortably' you should expect to need 5 million in the bank if you want to retire in 30 years.
Recently, I've been pondering retirement. I've also invested $800K on S&P 500 so i could secure my financial future. i need an approach to invest in Stocks like Nvidia stocks and of course AI stocks that will align with my risk tolerance and financial goals but it seem to be bearish right now.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
£3.500 excl housing? You don’t need that much. Far from it. When substracting our mortgage and costs related to the kids we have far less. When you’re house is paid in full, about €2.500 is enough for a couple to retire comfortably.
It’s great to hear different viewpoints and experiences. To be fair, the figures mentioned in the talk were based on the cost of living in London, where expenses can be considerably higher compared to other places in Europe. It’s important to consider regional differences when planning for retirement. Moreover, a key theme of the talk was the importance of being conscious of your own financial journey. The figure of £3,500 isn’t a one-size-fits-all number but rather an example to encourage individuals to invest time in understanding what their own ‘number’ might be-what they personally will need to retire comfortably.
True. Though I do often get the idea that it really helps to learn how to do more with less. Being rich is less about what you have, and more about what you need.
One just needs to learn simple ways to make money from their money.. in retirement you can make money via options on stocks, dividends. It just takes a little simple knowledge. Just sp3nd some time 30 minutes a day and you can see how to make money. It is not rocket science.
Don't forget to BACK OUT pension/annuity income (and for US citizens/expats, Social Security) from your monthly income needs. Otherwise, for example, a couple who now spend $10K /month would need a whopping $3.75 Million according to the formula of 375. But, if you include pensions and social security, that amount is much less
If I want to withdraw £50,000 a year from my retirement savings, and that's 4% of my total savings, I can use a multiplier instead of dividing. The reciprocal of 4% is 25 (1 / 0.04 = 25). So, £50,000 times 25 equals £1,250,000. I think he calls it a rule of thumb, the 'Rule of 375', for monthly withdrawals. It's simple and considers a rough 20% tax, which is practical since I think about spending after taxes.
375 is a 3.2% withdrawal rate designed to terrify you into giving financial planners more of your money and guarantee your kids inherit well. 250 is fine, and most people would be ok with 200 as retirement spending, especially in the UK with “free” healthcare is a parabola that starts winding down as you age.
Haha retirement. I'll be lucky to live to see retirement at the rate they are pushing it back. And savings? My government is trying it's best to make sure i don't have any.
I hear this all the time. State pension is only a portion of the income for most people, it's not a mandated retirement age - private pensions are accessible from quite a bit earlier!
Sorry to hear that. It’s sad to see just how many people are in a similar position to this. How much assistance does your mum get from social services - home help, carer, etc. Has she ever been assessed for her needs? Or is it down to you?
The caveat was that you own your home with no mortgage. The UK doesn’t have crippling property taxes like many parts of the USA, and of course, there’s that “free” healthcare.
If you think that a home is worth 5 million... A truck is worth 80,000... and a phone is worth 1,000... Then you better get your wheel barrow to carry all your cash ... oops,I forgot about CBDC's and you can't afford the wheel barrow anyhow
The Rule of 375 is incredibly useful for retirement planning. It offers a simple, quick way to estimate how much you'll need, helping you set clear financial goals. It's a practical tool that makes planning for the future less daunting and more achievable.
I'm pretty sure just about nobody in the UK below the age of 40 has enough money for their retirement and more importantly I'm pretty sure they never will 😬 I can tell you how many people I know that will ever have 3k a month to spend NOT including their home. Absolutely nobody!
Might be worth checking out the Retirement Living Standards study, which is based on independent research by Loughborough University, and has been developed to help people to picture what kind of lifestyle we could have in retirement. Read it with an open mind. You might just learn a few things...
Imagine you want to withdraw £50,000 each year from your retirement savings, and this amount represents 4% of your total savings. Instead of dividing, you can use a multiplier. The reciprocal of 4% (which is 0.04) is 25 (1 / 0.04 = 25). So, when you multiply £50,000 by 25, you get £1,250,000. The 'Rule of 375' seems to use the same idea but for monthly withdrawals and it also roughly considers a 20% tax.
Another formula, another same lecturers on saving, planning, thinking. Yet no one has done a talk on retirement planning for those who wish not to leave much (or to try to spend it all - as much as possible (or with as little savings left as possible). 1,312,500 will leave you with a lot of money left for others or those you leave behind ... :) Who has the formula where we can aim to spend it all (of course hard to predict how long one lives).
@@onlyanaconda1947 I think it’s tough to predict the exact amount you'll need because of all the moving parts in a financial plan, like investment returns, longevity, and inflation. What I took from this is that's why ongoing planning is crucial, just as the speaker suggests. Rather than a fixed formula, regular adjustments and planning help ensure you can enjoy your retirement without leaving too much behind if that's your ultimate goal.
Does anyone else not really wanna know the answer to the question in the videos title? I'm guessing it's really subjective and almost none of us will ever have enough to retire with confidence
A simple way to figure out how much you need is to use the 4% Rule where you figure out your annual expenses and multiply that by 25. So if your annual expenses are $30k and you multiply that by 25, you get $750k where you can withdraw 4% of that each and every year pretty much to eternity (though it was originally made for a 30 year retirement). Just lower your annual expenses and be flexible, then you can retire much earlier and truly design your life.
The key to his planning that few even understand or plan for is Taxes! Taxes will eat your 401k and yes your SS will and can get taxed up to 85%. Taxes are the issue most everyone that not 70 now will have to face as a real issue beyond anything they have ever had to pay or deal with in this lifetime.
Just to be clear...Social Security isn't taxed at an 85% tax rate. Depending on the income calculation up to 85% of your Social Security benefit may be taxable. The tax rate you actually pay would be based on wherever you fall on the current progressive tax scheme. Nobody pays an 85% tax rate in the current scheme.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through a job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
@@MarcoWanner-h8j I agree with you. As an early investor in NVDA, AVGO, ANSS, and LRCX, my financial advisor's advice was incredibly helpful. Over the past seven years, she has helped me find stocks that have performed 10x multiple times. With her help, I've grown my portfolio to over a million dollars.
@@TerrencesSheldons I appreciate the implementation of ideas and strategies that result in unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, Do you mind sharing info about this person guiding you, please?
@@JoeWilmoth-k2w Finding financial advisors like MARGARET MOLLI ALVEY who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
@@TerrencesSheldons I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look MARGARET MOLLI ALVEY up and send her a message. You've truly motivated me. God's blessings on you.
Property taxes utilities groceries and an unlimited bus pass yearly per person is only 8k yearly per person typically Under 15k in NYC and LA. Key is to payoff your portion of housing ASAP. Everything else works out.❤
I’m only 51 and I don’t spend that. I’m completely debt free ( mortgage free too). We have 3 kids ( 2 have graduated from college (debt free) and the last one is in the 10th grade ( her college is fully funded already). Our expenses are low so. Now we are just investing and stacking our money for retirement. We also prep ( garden, can foods and have a 2 year food supply in our pantry room). The key is being debt free and being wise with how you spend your money
@@Nisa-gm5wg nice 💯🙂💯🙂💯. Get income (Double up on jobs) and gifts, at earliest ages and only buy assets. Never use debt. Marriage and babies with someone similar. Everything else works out.
I have to wonder if "Sarah"'s parents voted Labour? Did they just assume that the state would take of them and they need not plan for their own future?
While its true that retirement planning doesn't need to be complicated, it's also true that many people struggle to stay calm during market downturns or when tax laws change. This is where a financial planner becomes invaluable. They can provide steady guidance, helping you stay on track and achieve the simplicity and security you're aiming for.
Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
You are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
Would you mind telling me how to contact this specific coach using their service? You seem to have the solution, as opposed to the rest of us.
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Sophia Maurine Lanting turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
Thanks, I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get.
I just turned 44 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I'm getting worried about retirement, my intention is to retire at
55. How best do I maximize my savings of over $220k
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk
I converted my 401k to a Roth IRA to avoid higher taxes in the future. I'd rather pay taxes now than be stuck paying taxes on my retirement income when I'm 59 and living off my savings
Pre-tax contributions may help reduce income taxes in your pre-retirement years while after-tax contributions may help reduce your income tax burden during retirement
Both have their perks but you can also save for retirement outside of a retirement plan, such as in an individual invstment account or employing the services of a retirement planner/investment advsr
Agreed, I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My Husband and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.
This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha...
Interesting. I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation..
I definitely share your sentiment about these firms. When I was starting out, I checked out a couple of freelance investors online, so you could do the same. I personally work with "Teresa L Athas”, and she's is widely recognized for her proficiency and expertise in the financial market. With a comprehensive knowledge of portfolio diversification, she is acknowledged as an authority in this field..
Thanks for sharing. i searched her full name and found her web instantly. After reviewing her credentials and conducting due diligence, i reached out to her.
The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.
Yeah, people miss that part. You don't jet out to Puerto Rico with your life savings. Proper investing and a good business acumen are big pluses. Invest in the stock market, real estate, build businesses. That's just it.
Safe to say not everybody has the skill to pursue investing. But it's always easy to follow the advice of someone who knows how to i.e a financial advisor. You could anywhere between 10--40k with the right ones. Online businesses are a good bet too if you are savvy.
Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
Vivian Jean Wilhelm is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
I retired at 55 with $1.4 million in liquid assets and a paid-off property in Hawaii. Now at 57, I have $1.5 million and plan to sell the lot for $400,000. My budget has been $9,200 a month, but we’ve averaged $8,000 even with extensive travel and hobbies. I found similar results with my retirement planner, but I chose to leave a high-stress job. Historically, markets recover within six months to a year, so having one to two years’ worth of cash is wise. I’m considering travel health insurance to save on costs while living abroad part of the year. My main advice is to retire early and remain flexible, focusing on financial literacy and good financial advice.
Congratulations! You’re absolutely right! I’m also aiming to retire around 55 or 56. The importance of enjoying those early retirement years when you're most energetic can't be emphasized enough. It's crucial to enter retirement with a solid financial planner, a clear understanding of your actual expenses, and ideally, no debt. Being flexible with spending during market downturns is also key. I'm happy to hear you're enjoying your retirement, and I look forward to joining you soon!
We retired at 56 with $1.7M. All thanks to our CFA. We just reduced our spending habits a little and enjoy life!! WOW! What a difference. I didn't realize how long flowers bloom
@@JadwigaMusch Which financial advisor would you recommend, and what’s the best way to reach out to her?
@@HeydenWright Ximena Lorena Vaca has always been at the top of my list. She is considered very knowledgeable in her field and has a deep understanding of financial markets. I highly recommend her for a great partnership.
@@JadwigaMusch Thank you! I just looked up her name, and her website appeared. I checked her credentials and did some research before reaching out. Thanks once more!
From $7k to $45k that's the minimum range of profit return every week I think it's not a bad one for me , now i have enough to pay bills and take care of my family.
Could you please explain how beginners like me can start making this much.
Last week I tried trading on my own and ended up losing $4k
I have Evelyn Infurna to Thank
she is a licensed broker here in the state.
YES, That is exactly her name and also many people speaks highly about her . she is an expert and am just starting with her.
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
I'm interested in investing, but I'm not sure where to start. Do you have any advice or contacts who can help me out?
Investing can be complex, so it's smart to get professional guidance when building your financial portfolio.
It's a great idea to have a conversation with financial advisors like Amanda Martin to reshape your portfolio.
I spread out my $25k portfolio across various markets to diversify my investments.
That's awesome! I ended up making a net profit of about $115k by investing in high dividend yield stocks, ETFs, and equity.
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Don't put all your eggs in one basket; instead, diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
pls how can I reach this expert, I need someone to help me manage my portfolio
Melissa Terri Swayne is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for the lead. I searched her up on google, and I have sent her an email. I hope she gets back to me soon.
Building a retirement fund is like planting a garden-diversify your seeds for a healthy harvest.
Diversification spreads the risk, just like planting different seeds ensures a fruitful harvest.
Diversifying my portfolio with my adviser’s help has reduced risks while maximizing potential returns.
Absolutely! A skilled coach helped grow my investments from $321k to over $750k, primarily through stocks, ETFs, and bonds. I anticipate housing prices will stay stable until more homes become available.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
Julianne Iwersen Niemann is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
I retired at 53 now, 55. I have close to a six-figure portfolio, 70% income uk 🇬🇧 stocks, blue-chip companies, the rest in growth etfs sp500 nasdaq global technology, etc. I still like the growth aspect of investing but as my grandkids would inherit all this how best does all this get best managed for better returns?
My 401k went 100% in the S&P 500 when I started working in 1989. Left 100% alone till 2007 before it went to 666. Because of my 17 years in the 500, I was able to retire this year with $683k in the 401k (and a pension and rental income). There is no other way to retire before you are 70.
Absolutely! Wealth is made in growth investing . We aren’t in a bear market, but nibbling heavy red days has proven to be fruitful for me over 9 years of investing. I am at 2.25 mil. Biggest positions PLTR, TSLA, SCHD, NVDA, and now looking to build up DRGO alongside finding quality value/growth stocks to buy. I got $48k divs last year in taxable divs. Q3 taxable divs this year was $18,388 this year. Don't sell when the market is down. Having a skilled CFA that puts the time in to do in-depth research can be invaluable in strategizing your portfolio.
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.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Amy Desiree Irish ” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my portfolio this red season. I’ve made over $250k since then.
this is great! think your advisor would get on the phone with an unknown? i'm in dire need of proper portfolio allocation
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Found her, I wrote her an email and scheduled a call, hopefully she responds, I plan to start the year on a woodnote financially..
My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
I’m 77 and still working full time. I do enjoy my work, it provides me with purpose and has secured my financial future. Most people are too eager to retire as early as possible. Even if you do retire early, best to get a part time job for the reasons cited above, as well as following many if not all of the suggestions in this video.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Mind if I ask you to recommend this particular coach you using their service?
The advisor that guides me is Sonya lee Mitchell, most likely the internet is where to find her basic info, just search her name. She's established.
Thank you so much! This is exactly what I needed right now. I wrote her an email and am waiting for her reply. Hopefully, she responds soon. I plan to start the year on a strong financial note.
I think the people that should be worried are those of us who are retiring with less than a million. I have only 650k in my Roth and I don't know how to grow it.
I was in this same position a couple years ago. I was always anxious. I decided to start working with a financial advisor, and I started making a lot of monthly dividends that my anxiety disappeared.
Exactly my solution too, even though I'm not retired. As a contractor with limited time to analyze investments, I've relied on a fiduciary for the past seven years to manage my portfolio. This strategy has helped me navigate market fluctuations effectively and also increased my porfolio by up to 300%. You might consider a similar approach.
@@mikegarvey17Impressive can you share more info?
Yes indeed.... *Izella Annette Anderson* has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Thank you for this. I'll send her an email to reach her, and I hope I'm able to reach her.
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.
Those sound like great picks! consider financial advisory so you don’t keep switching it up, top 3 payers for the month were $OHI, $KMI, and $EDP... not bad for 350k
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 14.3%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an advisor.
I'm intrigued by this. I've searched for financial advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info
Retirement isn’t an end goal, but a journey best secured by careful and consistent investments.,.
Retirement is the reward of disciplined investing over the long term, not just a destination.
My adviser guided me through retirement planning, ensuring my investments were strategically positioned for long-term rewards.
Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.
Nicole Anastasia Plumlee can't divulge much.. Most likely, the internet should have her basic info, you can research if you like.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Retirement is no longer simply a time to enjoy life. For the middle class, it often means finding ways to make ends meet, possibly through investing in stocks. But when is the right time to invest? Some argue it can be highly profitable, while others caution against the risks. What do you recommend?
It appears there could be potential, but it's important to proceed with caution. I recommend consulting a financial advisor who can guide you on the best entry and exit strategies.
Having an investment advisor is the best way to go about the stock market right now. I used to depend on RUclips videos but it wasn't working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
Could you recommend your advisor? I'll be happy to use some help.
Her name is 'Rebecca Noblett Roberts” Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
You are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?
Rebecca Lynne buie is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Hello, I want to start investing, but I'm unsure where to start. Do you have any advice or contacts for assistance?
It's prudent to seek expert advice when creating a solid financial portfolio due to its complexities.
The truth is, you can't succeed without a reliable person like Naomi
Naomi's distinctive strength is her pragmatic approach, setting her apart from other brokers who often set unrealistic goals and fail to deliver
So, you all know her too? Her success story is everywhere!
If someone is straightforward and skilled in their work, people will always recommend them. I appreciate her honesty.
Most people don’t realise it, but the secret to retiring comfortably is finding a way to make returns while your money works for you. My dad, as I remember, started saving for retirement quite late, but I knew he was making more than 10k returns from his investment monthly and it was completely passive.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or bitcoin and stocks.
I invested 10k in Robin hood and 401k about a year ago and it steadily went down, now my portfolio is down to $800. I don't know what to do and i am in between jobs
@@Aimee966 Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances.
I’m Glad i stumbled on this. Please, if its not too much of a hassle for you, can you drop the details of the expertise that assisted you and how to get in touch….
@@rougeur This is the Fourth time I'm seeing someone talking about Susan as there are lot of testimonies about her on Facebook. Do you know her ? if yes , did you work with her?
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
Agreed, having a good financial advisor is invaluable, my portfolio is well-matched
for every season of the market and has just yielded 120% from early last year. I and my
advisor are working on a 7 figure ballpark goal, tho this could take another year.
mind sharing info of this person guiding you please? truly appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor
Can't divulge much, I delegate my excesses to someone of great expertise ''Nicole Ananstasia Plumlee"'preferably you can look her up on the web, her qualifications speak for itself.
Her name is. 'NICOLE ANASTASIA PLUMLEE’. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
excellent share, just copied and pasted Nicole Ananstasia Plumlee on the internet, spotted her consulting page ranked top and was able to schedule a call session. Ive seen commentaries about advisors but not one looks this phenomenal
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
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To have a comfortable, secure and fun retirement, you need to build the financial cushion that will fund it all.
The fun part is why it makes sense to pay attention to the serious and perhaps boring part while planning how you’ll get there.
Retirement planning is a multistep process that evolves over time.
According to Timothy Eric Meek, As you save that money, you have to invest it to enable it to grow.
Then you need to look at the types of retirement accounts that can help you raise the money to fund your future.
A normal online browsing name search will help you.
The new American Dream = Work 2 Jobs and live in a Van/Car! Electricity bills doubled , food prices doubled , prices of homes tripled, with wages stagnant. I fear that I might never be able to have a home or even savings for retirement with the look of things.
Well said Thomas, People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks..
I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.
Make sure they are certified eg in UK a program recognised by FCA or in the US they should have a qualification such as CFP.
@@LemonTwistSmiles How? What does one do if they have a 100k$?
Thank you for sharing, I must say, Amber appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled
Accumulating money when in service could seem challenging, but surviving after active service without accumulating enough money is definitely more challenging. You will struggle to meet basic needs. Retirement choices determines a lot of things. My uncle and his wife spent over 20 in the civil service, his wife was investing through a wealth manager while my uncle through a 401(k). I think his wife is standing at the fruitful end of ritirement..
You're correct..!! Some fews years ago I pulled out my money and invested with my wife's private wealth manager. Though there is still a huge gap between my profit and hers because she started investing long before I joined , but at least I am earning more, my money has grown even more than it would with 401k. I am even making money before retirement.
Information is liberating, the absence of adequate information can be such a hurdle. I have been making $273k passively through a wealth advisor. No matter the state of the economy he always makes returns. And I am not even doing much.
Wow..!! I would really like to try something like this. But finding the right firm to work with is challenging, they all feel the same to me.
Most firms prioritize their commission over clients profitability. So I prefer to work with private wealth manager like Jason Herman Pierce. He is a finance professinal, he develops personalized financial plans, manage investment portfolios and provide guidance on tax strategy, risk managment and real estate. My experience with him have been exceptional I must confess.
You can research on him via the internet, just Google his name correctly @ Jason Herman Pierce, and you will get all the information you need.
It's empowering to know that planning isn't just about numbers but also about envisioning the kind of life I want to lead.
Thank you for demystifying financial planning and making it feel accessible. This talk is a nudge for me to start taking active steps towards my future financial wellbeing. ❤
Very much how my spouse and I felt after watching this. It’s the nudge we needed to start really thinking about our financial future.
Amazing content! I have been following your videos for sometime now, consistently kicking down Wall Street doors for two years now, I have over $320k in stocks. Currently, my portfolio is down by 15%. Wondering if they're any short term opportunities I can invest in.
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience.
Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I've been circling around the idea of retirement planning without really knowing how to approach it or how much I actually need to save for a comfortable life later on. Your discussion on balancing sufficiency with excess has given me a clearer vision on what 'enough' might look like for me. Thank you!
Talk to a financial planner or coach? A second pair of eyes and accountability is worth a huge amount if it helps you to get everything in place!
Great point @@sarahjohnstone9041 and certainly something that my spouse and I are now looking into!
Retirement isn’t an end goal, but a journey best secured by careful and consistent investments.
Yes you might say that but More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire without any investment. Retirement becomes truly fulfilling when you possess two essential elements: financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement. .
Only if a good amount of folks do what you teach, just imagine how many millionaires we already have or will have in the future. I have been looking at similar opportunities. As Warren Buffet noted, he has witnessed this occur frequently. Never did my husband and I make more money than others in the middle class. With a $250k stock portfolio, we intend to retire at age 58. Never have we ever sold even one share of stock...
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@DE-Burrows Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Munger and Buffett have both achieved an incredible feat with Berkshire. They've turned thousands to billions, and have made a lot of people wealthy in the process. I really saw the potential of the stock market by reading Berkshire's annual letters. I recently sold my $674k apartment in the Bel Air area and I'm hoping to throw it into the stock market. I just don't want to lose everything.
Who is the professional who is advising you, if you could perhaps tell us? As a novice investing in stocks without the correct direction of a professional, I have lost a lot of money.
In my early years I always rented homes/apartments with people to share costs. And when I saved enough to buy a home I rented out my spare room. Then I married someone who already owned a home and sold my place. The point is you can save a lot of money by sharing resources like transport and housing in your working years. I saved a load by not driving alone to work. These days probably draw up a roommate contract in case of deadbeats.
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
Mind if I ask you to recommend this particular coach you using their service?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
The general message is good. However the one piece I would add is educate yourself and manage your investment strategy, tax efficiency etc. you will save a lot in fees and feel much more in control of your own destiny.
Thank you for mentioning TAXES. He does not mention how to KEEP what you work and save for retirement. The government is going to get a cut. He does not mention forced distributions either. The real secret is keeping what you earn not what you save.
People who are able to retire early are lucky . I have 15 months till 65 and need to look at calling it quits, my only fear is running out of funds much later, thus keen on investing. What could be the safest possible ways to invest for cashflow, in order to afford lifestyle after retirement?
consider investment planning, learning from a well experienced advisor is invaluable and a great thing to do now
That's right. I am a wife, mother of four and new grandmother, 28 years in Corporate America, retired recently at 57 after discovering the freedom investing could provide, been contributing to my portfolio since the pandemic in early 2020, and have grown a $250,000 savings account to almost 1 million, credits to my investment advisor.
Impressive can you share more info?
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 ‘’Melissa Terri Swayne” for about 4 years now, and her performance has been consistently impressive.
Thank you for this tip. It was easy to find your coach on web. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
The first real step is reach FI. Not necessarily retire, but knowing that at any given time you can. Every penny saved then can buy the extras, or you can trade these extra for extra time. More importantly your working attitude will change drastically.
If you work because you choose to, you will likely live a much better life
You've captured a crucial aspect of financial independence (FI) brilliantly.
From experience, the hardest part of building up the million is the first 100k. Once you get to the first 100k, each subsequent 100k is much easier and faster because of the compounding effect. The way I got to the 100k was to break it up into 5 years and set myself a goal to save 20k each year. To many even that may be difficult, but it is doable if you are on a reasonable income and are willing to cut back on luxuries for five years.
I completely agree! Breaking big goals into smaller, manageable steps is a smart strategy. It’s all about staying disciplined and making consistent efforts.
The 375 ignores the state pension, so you need less. Also factor for a 25% drop in expenses after 75. So this reduces what you need to save. How much do you need to pass on to children, if not much then you can eat into the capital and so reducing the amount needed to save. A good message that you need to save and in the most tax efficient way. But the figures quoted are excessive in my opinion. He is a finance person who will make a percentage on what you save so it's in his interest to get you to save more. I'm not saying don't save well into a pension but look deeper into this field to get a more realistic figure
he is promoting his planning firm using TED. smart.
Agreed. He is a salesman 🤣.
It's in the interest of such "Advisors" to cry doom n gloom
375 seems wildly pessimistic. It's assuming 4% earning rate on average over 30 years and zero draw on principal.
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Extremely well delivered! Insightful, practical, and to the point! 💡👏
I love using the 4% Rule to calculate how much you need in retirement. It's simple, easy to understand, and quite the game changer for retirement.
Please share ? I like to know
In your first year of retirement you can spend 4% of your retirement savings. Thereafter you can raise that by inflation. So $1M produces $40k the first year.
@@StayPositive050like this and is the basis of my own retirement. Like the 375 rule also as this includes an assumed tax rate 👍🏻 Just need to ensure I die before 85! 😂
Australian superannuation funds have a minimum withdrawal rate of 4% of the annual balance up to age 65 increasing by 1% a year every additional ten years of age. For example a 76 year old has to take at least 6% of the EOY balance.
@@glennet9613 in the UK, so didn’t realise the rules there. Appreciate your guidance and wish you well in your own journey 👍🏻
Good discussion. I became financially retired at 54 with no debt period. Typing this while I sit by my pool at my home in Florida.
Huge achievement! And hopefully talks like this one will inspire more people to TAKE ACTION to achieve a retirement outcome like yours. 👍
I'm curious, for someone with around $50,000 to invest, how would you recommend we enter the market? I am looking study some traders and copy their strategy rather than investing myself and losing money emotionally. What's your take on this approach?
It's all about finding the right moment to take advantage of and generate colossal profit, which is why you need to do your research.
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and {now I’m buying again.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.
“Monica Shawn Marti’’ You can easily look her up, she has years of financiaI market experience.
"Retirement isn’t an end goal, but a journey best secured by careful and consistent investments."
Well said! Retirement is the reward of disciplined investing over the long term, not just a destination.
Well said! My adviser guided me through retirement planning, ensuring my investments were strategically positioned for long-term rewards.
That's a great point! Finding a reliable financial adviser would be essential for me to ensure my retirement plans are well-structured.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further.
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you
Most people don’t realise it, but the secret to retiring comfortably is finding a way to make returns while your money works for you. My dad, as I remember, started saving for retirement quite late, but I know he was making more than $10k returns from his investment monthly and it was completely passive.
This is really amazing though. I'm curious as to how he did it. Was it real estate? Or he was a market enthusiast?
Not really. Approximately four years before to my dad's retirement, our family was introduced to a financial advisor. That was the catalyst for the transformation. I believe my retirement income would be on the right track because I've been using the same advisor.
Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
Hi Dennis, good morning! 🥰 I hope my comment didn’t come across as intrusive. Your words reflect the kindness and beauty of your heart, which moved me to respond. I don’t usually comment, but I believe you truly deserve this compliment. If you’re open to it, I’d love to be friends. Thanks, and God bless you! 🌺🌺🌺
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
How can I reach this person?
'Carol Vivian Constable’ maintains an online presence. Just make a simple search for her name online.
I checked Carol up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.
I want my money to grow faster than inflation, which is why I’m exploring investment opportunities for my $333k retirement savings currently in the bank. However, I’m unsure about the best strategies to achieve solid gains and consistent cash flow.
If you lack knowledge about market investing tactics, get advice from a financial counselor.
Agreed, the role of advisors an only be overlooked but not denied. I was shocked that I made more money with investing than hard work, not even my CEO income. Earning ''return on investment'' fetched me millions within a space of 5 yrs.(But I still enjoy working)
I've been looking to switch, but have been kind of relaxed about it. Could you recommend your wealth manager? I'll be happy to use some help.
She's known as Annette Marie Holt. One of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
Thanks for sharing. I searched for her full name, found her website immediately, reviewed her credentials, and did my due diligence before reaching out to her.
I'm a 52yrs Director in a Tech company and I consider myself a high income earner at $350,000 per annum, I have a retirement account account but i still want to explore opportunities for short term gains before i start working less in few years.
In my opinion, IRA is a valuable strategy for retirement planning, providing growth and tax advantages. While the market is promising, expert guidance is essential for portfolio management.
I learnt this when I got disabled from an accident, I had to reach out to a financial planner who devised a plan for me to live off dividends from my investments. Other than Disability Cheque, I earn enough from home and live comfortably with her help.
that’s some interesting numbers, mind revealing this person guding you ? he/she must be a seasoned advisor
Finding financial advisors like vivian jean wilhelm who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thanks for this tip. Her website popped up on the first page immediately I searched her, I read through her resume and it seems pretty tight. So, I dropped a message & hopefully she replies soon.
For anyone contemplating their future retirement, my advise from someone that has just reached their retirement goal and retired. Automate your retirement savings. Every time you get a payrise put a percentage of the raise into your retirement account. It is money you never had, you have been living on the lower amount so keep living on it. You will be grateful for the small sacrifice at the end of your working life.
The very first step in personal finance is knowing your net worth. There are free apps for determining this. You should know your own personal balance sheet (point-in-time net worth) and your personal income statement (what you keep monthly after expenses). If both of these are 1) positive and 2) increasingly positive over time you're heading in the right direction.
Agreed. Knowing your net worth is a great start. Being clear on your financial reality-your income versus expenses each month-empowers you to then put a solid plan in place for the future.
The only retirement I'm going to get is retiring to my room for the night so I can get up early for work the next day
No creo
@@dlp-r2r gracias por tu confianza
😂😂😂😂
Living the dream!
Recently, I've been pondering retirement. I've also want to put $300K into the stock market but i need an approach that will align with my risk tolerance and financial goals to secure our future
While the stock market is promising, expert guidance is essential for effective portfolio management
Opting for an inves-tment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2022
Mind if I ask you to recommend this particular advisor you using their service?
NYCOLE CHRISTINA VANNATA a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
@imohimoh3441 That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@imohimoh3441 The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
@imohimoh3441 I will give this a look, thanks a bunch for sharing.
Excellent speaker and advice - thank you
Also learnt a lot!
Retirement is fast becoming as unrealistic as home ownership.
Scary. In this Talk, this is materialized when he mentions that the 3.5k/month considers no significant housing expenses...
Just look at how many new trucks are sold a year. Those people are literally trading their retirement for a vehicle. That’s the truth.
Agreed. It's a horrible thing to admit but if you're in the UK and under 40 I think retirement is getting close to impossible 😬
@@andrewpepper3145 well I’m in Australia and I remember my dad retiring at 52. I’m 50 now and I can’t see myself retiring before 65.
I wanted to have one!!! A Very hard goal to accomplish 🙏🙏🙏
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management
Quite true! You don't necessarily need to be a flawless investor; all you need to do is seek advice from an expert. I began investing in 2020 and pulled a profit of roughly $900k that same year despite having no prior investment knowledge.
this is huge! mind if I look up the consultant that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
Google Sonya Lee Mitchell and do your own research. She has portfolio management down to a science
Impressive, i’ll most definitely check her out. I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.
Learn a lot, Thank you prof
I got the goldon ticket (the state pension) 12 years ago. It is not much around $900 a month but it is all I and my family need. I also have a cash cusion of $60 K, some land , no debt and a cheap home. I have a simple life with no wories. How is that possible I hear you ask. Easy I live in a third world country.
$3,500 (minus your government pension / social security income) = $x,xxx * 375 = $xxx,xxx
You can breath again and you are welcome.
Simples. 🙌
£3500 with no rent or mortgage to pay? That's pretty darned comfortable!
Make sure you’re including inflation. $3500 today will not be enough 20 years hence.
@@StayPositive050 I'm not so sure. In 2004 - 20 years ago - I earnt just above 3500 per month. At the time it was a great wage. It still is today 20 years on. Maybe not *as* great, but still great!
@@StayPositive050 The 4% rule, which this 375 rule is based on, adjusts for inflation. The ideal is you can take 4% out in your first year, and in the 2nd year you take 4% x inflation out the next year, and so on
This talk was in London, so for a comfortable life for a couple, it doesn't sound ridiculous..
Outside of expensive metro areas, like London, you can have a comfortable life on just £2,000 a month (if you outright own your home).Some people may not even need that much if their homes are small and use less energy, and if they don't own a car, etc.
Amyr, sua apresentação é algo que vem para chacoalhar nossa situação enquanto residentes no UK.
Algo para ajudarmos criando um alicerce para atingirmos o objetivo de £1.3 M.
Fácil? Jamais.
Porém possível, se começar no momento certo.
Muito obrigado e parabéns.
Read... Engineer your retirement. It's the book you need.
He's right 👌🏾✅️
Agreed - over the last few years I’ve really started paying attention to my financial life and presentations like this are a great reminder of being proactive about building my financial future. 👍
The more dough the better. Use some to help the needy also
The world in which the 4% rule was working, does not exist anymore. Central banks money creation and Gov spending have led to an unstable financial system. Money creation (debt) is going exponentially, impossible to sustain. Gaining scarce assets is the only way to secure some sort of retirement income, but even that is no certainty. Better is to prepare to live on less, minimize your lifestyle needs. Happiness does not need to cost a lot.
Es mejor prevenir
I’m 44, net worth £5 million and still want more. I’m always chasing more
Why?
@@DudMan2111 I think it’s hardwired into our brains to want more.
I always feel sorry for people that have to state their wealth…they are generally very insecure. I know I used to be like that.
@@barryyoung Don’t feel sorry for me, I was raised on a council estate, also have dyslexia, ADHD, plus I’m on the autistic spectrum (Asperger’s). Fortunately my son does not suffer with any of these conditions.
Hm. How come you prioritize making money over taking care of your health? It sounds illogical. Thus, I must be missing something ?!
He touched slightly on it (and I mean by only mentioning it by saying go talk to someone else...) but $3500 a month will get you just about nowhere in 30 years. I've talked to multiple bankers and financial people and they've all said right now if you want to retire 'comfortably' you should expect to need 5 million in the bank if you want to retire in 30 years.
Do it the other way. Divide your 401k by 375 and add to it your expected SS benefits. Then subtract say 1000 per person a month for medical expenses.
That's an interesting thought process, and it's easy to discuss with friends over a beer and get people motivated to think about this stuff. 👍
Wow, 1000/m, really?? That's crazy money. Makes me glad we have NHS in UK, for all its faults..
@@sarahjohnstone9041 I wasn’t trying to be accurate, but Fidelity estimated we would need 300K saved before tax by age 65. I hope they are wrong.
Recently, I've been pondering retirement. I've also invested $800K on S&P 500 so i could secure my financial future. i need an approach to invest in Stocks like Nvidia stocks and of course AI stocks that will align with my risk tolerance and financial goals but it seem to be bearish right now.
While the market is promising, expert guidance is essential for effective portfolio management.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Very insightful 👍👍👍
£3.500 excl housing? You don’t need that much. Far from it. When substracting our mortgage and costs related to the kids we have far less. When you’re house is paid in full, about €2.500 is enough for a couple to retire comfortably.
It’s great to hear different viewpoints and experiences.
To be fair, the figures mentioned in the talk were based on the cost of living in London, where expenses can be considerably higher compared to other places in Europe. It’s important to consider regional differences when planning for retirement.
Moreover, a key theme of the talk was the importance of being conscious of your own financial journey. The figure of £3,500 isn’t a one-size-fits-all number but rather an example to encourage individuals to invest time in understanding what their own ‘number’ might be-what they personally will need to retire comfortably.
True. Though I do often get the idea that it really helps to learn how to do more with less. Being rich is less about what you have, and more about what you need.
One just needs to learn simple ways to make money from their money.. in retirement you can make money via options on stocks, dividends. It just takes a little simple knowledge. Just sp3nd some time 30 minutes a day and you can see how to make money. It is not rocket science.
but...the reality is few will have the mental and emotional "stamina" to keep it up. Jus' sayin'....
Don't forget to BACK OUT pension/annuity income (and for US citizens/expats, Social Security) from your monthly income needs. Otherwise, for example, a couple who now spend $10K /month would need a whopping $3.75 Million according to the formula of 375. But, if you include pensions and social security, that amount is much less
Learn something from this lecture
Same here!
Why 375? Sounds quite high - other financial advisers recommend 250-even while preserving the original sum in the portfolio … thx
If I want to withdraw £50,000 a year from my retirement savings, and that's 4% of my total savings, I can use a multiplier instead of dividing. The reciprocal of 4% is 25 (1 / 0.04 = 25). So, £50,000 times 25 equals £1,250,000.
I think he calls it a rule of thumb, the 'Rule of 375', for monthly withdrawals. It's simple and considers a rough 20% tax, which is practical since I think about spending after taxes.
375 is a 3.2% withdrawal rate designed to terrify you into giving financial planners more of your money and guarantee your kids inherit well.
250 is fine, and most people would be ok with 200 as retirement spending, especially in the UK with “free” healthcare is a parabola that starts winding down as you age.
I'm not sure but I just made a big batch of Chocolate Brownies.
Haha retirement. I'll be lucky to live to see retirement at the rate they are pushing it back.
And savings? My government is trying it's best to make sure i don't have any.
I hear this all the time. State pension is only a portion of the income for most people, it's not a mandated retirement age - private pensions are accessible from quite a bit earlier!
Ugh Sarah, I feel for you. In the same position 😔
Sorry to hear that. It’s sad to see just how many people are in a similar position to this.
How much assistance does your mum get from social services - home help, carer, etc. Has she ever been assessed for her needs? Or is it down to you?
Good for improving english listening
What retirement?
$3500/month is definitely not enough to live on if you're anywhere near a big city.
The caveat was that you own your home with no mortgage. The UK doesn’t have crippling property taxes like many parts of the USA, and of course, there’s that “free” healthcare.
If you think that a home is worth 5 million... A truck is worth 80,000... and a phone is worth 1,000... Then you better get your wheel barrow to carry all your cash ... oops,I forgot about CBDC's and you can't afford the wheel barrow anyhow
Where does the 375 come from?
30 years = 360 months + 4% margin on top
I am so glad I have seen this, = 375
The Rule of 375 is incredibly useful for retirement planning. It offers a simple, quick way to estimate how much you'll need, helping you set clear financial goals. It's a practical tool that makes planning for the future less daunting and more achievable.
@@financialrevolution1056 Thank you so much.
@@financialrevolution1056 Was the figure of 375 x £3500 not including owning a home?
I'm pretty sure just about nobody in the UK below the age of 40 has enough money for their retirement and more importantly I'm pretty sure they never will 😬
I can tell you how many people I know that will ever have 3k a month to spend NOT including their home. Absolutely nobody!
Might be worth checking out the Retirement Living Standards study, which is based on independent research by Loughborough University, and has been developed to help people to picture what kind of lifestyle we could have in retirement. Read it with an open mind. You might just learn a few things...
@@Gus-jm7de I'm now absolutely convinced I'm not getting a retirement 😂
I just realized that i will have to live on 567 usd a month😂😂😂😂
375 is including tax?
Yep. The Rule of 375 makes a rough allowance for 20% tax, as most people think of their expenditure net of taxes.
@@financialrevolution1056 thanks:)
375 is 3.2% WR not 4%
Imagine you want to withdraw £50,000 each year from your retirement savings, and this amount represents 4% of your total savings. Instead of dividing, you can use a multiplier. The reciprocal of 4% (which is 0.04) is 25 (1 / 0.04 = 25).
So, when you multiply £50,000 by 25, you get £1,250,000.
The 'Rule of 375' seems to use the same idea but for monthly withdrawals and it also roughly considers a 20% tax.
does this apply to UK residents only?
I earn very little. This sounds like a fairy tale.
Another formula, another same lecturers on saving, planning, thinking. Yet no one has done a talk on retirement planning for those who wish not to leave much (or to try to spend it all - as much as possible (or with as little savings left as possible). 1,312,500 will leave you with a lot of money left for others or those you leave behind ... :) Who has the formula where we can aim to spend it all (of course hard to predict how long one lives).
It's quite a challenge because so much depends on how your investments perform and how long you live.
The book, Die With Zero is an excellent read on this topic
@@williamshelley3323 Oh wow. Thanks for sharing!
@@williamshelley3323 such a good resource, thank you!
@@onlyanaconda1947 I think it’s tough to predict the exact amount you'll need because of all the moving parts in a financial plan, like investment returns, longevity, and inflation. What I took from this is that's why ongoing planning is crucial, just as the speaker suggests. Rather than a fixed formula, regular adjustments and planning help ensure you can enjoy your retirement without leaving too much behind if that's your ultimate goal.
what a fact
Just adding a REAL comment since all the other comments are BOTS and SCAMS.....LOL!
Yes.
Does anyone else not really wanna know the answer to the question in the videos title?
I'm guessing it's really subjective and almost none of us will ever have enough to retire with confidence
A simple way to figure out how much you need is to use the 4% Rule where you figure out your annual expenses and multiply that by 25. So if your annual expenses are $30k and you multiply that by 25, you get $750k where you can withdraw 4% of that each and every year pretty much to eternity (though it was originally made for a 30 year retirement). Just lower your annual expenses and be flexible, then you can retire much earlier and truly design your life.
The key to his planning that few even understand or plan for is Taxes! Taxes will eat your 401k and yes your SS will and can get taxed up to 85%. Taxes are the issue most everyone that not 70 now will have to face as a real issue beyond anything they have ever had to pay or deal with in this lifetime.
Just to be clear...Social Security isn't taxed at an 85% tax rate. Depending on the income calculation up to 85% of your Social Security benefit may be taxable. The tax rate you actually pay would be based on wherever you fall on the current progressive tax scheme. Nobody pays an 85% tax rate in the current scheme.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through a job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
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@@TerrencesSheldons I appreciate the implementation of ideas and strategies that result in unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, Do you mind sharing info about this person guiding you, please?
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3500 a month?.. hahahahha.. what are you spending 3500 in a month?. When you are old you only need a house and some books..
All the cruises! And the cost of living, this talk was held in London remember..
Property taxes utilities groceries and an unlimited bus pass yearly per person is only 8k yearly per person typically
Under 15k in NYC and LA.
Key is to payoff your portion of housing ASAP. Everything else works out.❤
Good luck
I’m only 51 and I don’t spend that. I’m completely debt free ( mortgage free too). We have 3 kids ( 2 have graduated from college (debt free) and the last one is in the 10th grade ( her college is fully funded already). Our expenses are low so. Now we are just investing and stacking our money for retirement. We also prep ( garden, can foods and have a 2 year food supply in our pantry room). The key is being debt free and being wise with how you spend your money
@@Nisa-gm5wg nice 💯🙂💯🙂💯. Get income (Double up on jobs) and gifts, at earliest ages and only buy assets. Never use debt. Marriage and babies with someone similar. Everything else works out.
👏🏻
We won't be able to retire lol
I have to wonder if "Sarah"'s parents voted Labour? Did they just assume that the state would take of them and they need not plan for their own future?
skip to 9:30
Do you own research and planning. You don't need a financial planner, it's not rocket science.
While its true that retirement planning doesn't need to be complicated, it's also true that many people struggle to stay calm during market downturns or when tax laws change. This is where a financial planner becomes invaluable. They can provide steady guidance, helping you stay on track and achieve the simplicity and security you're aiming for.
He speak and gestures like Obama
😂
Good catch