Hey all! Thanks for all the love on these videos. I’ll be taking a short break next week to re-assess where we’re at with the channel and come back with some 🔥 content hopefully mid-end of March. Just wanted to give you a heads up! 🙏
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family...
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 daughter. 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.
@@zubairadamu2477 Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY* , a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help....
Another great video with good, non-intrusive information. What's even better is that you never display arrogance or condescension in your delivery. One of the best on RUclips!
Another way, not for everyone, was to join the military. Up until 2018 if you served for 20 years you could retire with 50% of your base pay for the remainder of your life with medical and dental. So for the college grad retiring at 41 with an annual retirement income of about 40K in todays dollars is a possibility. When I'm 48, I'll retire with an annual pension of about 50K without ever contributing a dime to it. Any savings just enhances my retirement. That retirement continues as long as I am breathing.
There was a 0% chance that I expected ERN to be referenced on this video. By far the best website ever written for financial independence, nothing even comes close. Though it can be very dense in numbers sometimes.
I think the more deeper we get towards achieving FI, the more we realized we just want the option to retire but deep down, I think we all want to be productive and contribute to others…. At least my perspective as I’m set to hit FI in a couple years.
Thank you for making this video! I’d made all of my calculations busing the 4% rule and it hasn’t crossed my mind that that wouldn’t quite work for me/my goals. Cheers!
Humphrey can you do a video for how college students should approach paying off their student loans and how that would fit into the bigger picture of investing & retirement
the concept of retirement is not doing some job that you hate doing. For someone who loves working physically or mentally, there is no concept of retirement as long as their work is productive and stimulating. This brings the idea of money, which is a byproduct of success and a byproduct of doing what you like doing.. you are welcome
The problem with your framework is that when you plan your cost of living ~20 years in the future, you have got to account for inflation. That 60k target salary won`t get you nearly as far when you are about to retire as it does today. So you really have to aim quite a bit higher.
Hey Humphrey - For compound interest to work, does it all have to be in the same account? Or could I have some in a 401k and some in a brokerage and get the same returns?
Calling maximizing income as the best way is discouraging when you are on government mandated income limits. So its cutting expenses and savings rate per investing
Great informative video as always! I am 24 just started full time work (just graduated college) and I am contributing a solid amount to my retirement accounts and have predicted my account values over time. I am concerned about inflation down the road ($1,500,000 today will be worth significantly less in 20-30 years). How much do you think this will affect our desired target retirement savings amount? I’m worried that I will have to save significantly more (close to double what was discussed in this video) to comfortably retire as inflation will take over… what are your thoughts on this? Would you consider making a video on inflation and how it will affect our retirement savings? I think that would be really interesting
hi Michael, great point. Ideally all your numbers are being adjusted for inflation as time goes on. Set a long term assumption for the inflation rate (2 - 2.5%) and create a plan that accounts for that. I think EarlyRetirementNow (the website I mentioned in the video) has some great models for these scenarios. Inflation recently has been a huge B**ch, but usually its much lower.
Any ETFs in specific you’d recommend for 2022 given the state we are in currently? Lol I have a 401k from work and maybe 40k in various stocks in stock market and unsure of what to do with it this year have been putting into VOO and nvidia/apple mostly this year after watching yours and others videos.
@@humphrey thanks a lot for the response bro! I have some invested in SPYD but like you I feel VOO is maybe better long term since I’m under 30 years old. Keep the videos coming 👍🙏🏻🙌🏼
Hey Humphrey what if you have that money in a high interest yielding account and maybe some of it in earning interest as crypto in a Celsius or blockfi earning up to 8%. If you only spend 7% you technically will never run out
What’s now might not be forever. That’s the first rule you should have when earning money. I made £50K a month at 23. I’ve gone down to £10K and now I earn £350K a year, so don’t be complacent.
Hey Humphrey, I’m 26 making about 60k a year I have a 401k with a 5% match from my employer and I have a RothIRA that I max out each year. Should I open another investment account for me to dump money?
Shouldn't we take this and double the amount we expect to spend per year? In 30 years it will have half the purchasing power. At current rates this video only works with the total destruction of the entire US Federal government and reserve.
Congrats on the click bait title where you mention that even saving 50% of 90k a year would mean retiring in 17 years. If it’s so easy to do 10 years why are you not retired yet lmfao
Crypto currency and NFTs will outsmart the banking system in the nearest future serving as a global fiat. Already making over 85% profit from my current investment
If you listen to these RUclips guys most aren't professionals and chase big returns by investing in their latest sponsored hot picks, you’re likely to overpay.
@@thehunter9853 After my experience in 2017 of slow emotional torture here is my strategy i don't hold minor companies except i want faster profits at that time or when i get greedy i then opt for them through a Pro only because being very much more profitable it is riskier too and i can't handle Lol.
@@kathleenstoner.n7499 Smart Strategy! Pls where can i check ROIC, Market Cap, e.t.c. And again who is the Pro you work with? Can i hire or work with him?❤️
Don't know if this is wrong. I work with "Sandra Yvonne Webster" She's quite popular and a director with NTS. You can look her up online. in all honesty, she is an Angel.
@@humphrey I was hoping for clarity on how to work out your magic number in detail, because I'm just using my living costs that I use now but I want to know how much inflation to include in that goal, and how to work it out so that I retire in ten years. Its seems the sums you gave calculated how many years, but how can I calculate it backwards knowing how much money I need to start with? Also the how to make extra money was where I lost interest because it seemed subjective. I still love the videos this is just how I felt watching
@@lloydloots90 Thank you for the feedback. A lot of what your magic number is has to do with what your expected lifestlye is. If you know how much you spend right now, it becomes a bit easier. Say you spend $40k a year right now, and you want to retire off of $50k a year ($10k more per year, so about $833 more per month). Take $50k and assume an inflation rate of 2% and use an inflation calculator to determine what that future amount looks like, then work backward from there. I will try to be more thorough next time
This is a great comedy channel. The concept of early retirement even having enough money to own a home is good stuff. However wrote this script should get an award. Retiring early without generational wealth is truly the biggest joke.
Hey all! Thanks for all the love on these videos. I’ll be taking a short break next week to re-assess where we’re at with the channel and come back with some 🔥 content hopefully mid-end of March. Just wanted to give you a heads up! 🙏
Please talk about how to build up yr portfolio in bearish periods. Thank you, Humphrey. Love your videos.
Well deserved! Thanks for the always great and consistent content!
Thanks yang ♥️
Enjoy the rest, Humphrey. We'll be here when you get back.
Great breakdown of the 4% rule. 👍🏼
Thanks Yang for the quality content ✨
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family...
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 daughter. 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.
@@zubairadamu2477 Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY* , a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help....
@@SasaSchueller Oh please I’d love that. Thanks!
@@zubairadamu2477 *MARGARET MOLLI ALVEY*
Lookup with her name on the webpage
Another great video with good, non-intrusive information. What's even better is that you never display arrogance or condescension in your delivery. One of the best on RUclips!
Another way, not for everyone, was to join the military. Up until 2018 if you served for 20 years you could retire with 50% of your base pay for the remainder of your life with medical and dental. So for the college grad retiring at 41 with an annual retirement income of about 40K in todays dollars is a possibility. When I'm 48, I'll retire with an annual pension of about 50K without ever contributing a dime to it. Any savings just enhances my retirement. That retirement continues as long as I am breathing.
Thank you for this. Unplug and enjoy your much deserved break. We will look forward to your new videos.
There was a 0% chance that I expected ERN to be referenced on this video. By far the best website ever written for financial independence, nothing even comes close. Though it can be very dense in numbers sometimes.
I think the more deeper we get towards achieving FI, the more we realized we just want the option to retire but deep down, I think we all want to be productive and contribute to others…. At least my perspective as I’m set to hit FI in a couple years.
Love your videos Humphrey! Thank you for making such high quality content. 👍
Saving a few bucks here and there won't help you retire early but if you spend $5 for a cup of coffee every day, then that adds up.
agreed
When I'm attempting to calculate how much I need in retirement should i assume 3% inflation?
THANKS HUMPHREYY HOPE YOU ENJOY YOUR WELL DESERVED BREAK
best channel for financial advise hands down keep up the videos i don’t trust anyone else
Thanks
You're on the right track let's talk soon 🔜you can now Join our VIP offer WHA/APP group
Your videos are so helpful to the life I want to achieve. Thanks for existing.
Glad you like them!
Thank you very much. I learn a lot. Where can I use that retirement calculator that you used here?
6:05 Contrary to the words of the SNHU commercial, the world does not, in fact, distribute talent equally.
Thank you for making this video! I’d made all of my calculations busing the 4% rule and it hasn’t crossed my mind that that wouldn’t quite work for me/my goals. Cheers!
Glad it was helpful!
Great job. I can’t wait to retire early now!
Hi Humphery, thank you so much for your awesome videos
Humphrey can you do a video for how college students should approach paying off their student loans and how that would fit into the bigger picture of investing & retirement
Loving the videos Humphrey, keep it up my man!!
Appreciate it!
Awesome stuff!
the concept of retirement is not doing some job that you hate doing. For someone who loves working physically or mentally, there is no concept of retirement as long as their work is productive and stimulating. This brings the idea of money, which is a byproduct of success and a byproduct of doing what you like doing.. you are welcome
The problem with your framework is that when you plan your cost of living ~20 years in the future, you have got to account for inflation. That 60k target salary won`t get you nearly as far when you are about to retire as it does today. So you really have to aim quite a bit higher.
I actually like the ETF investing. Just need one or two ETFs and your good to go. I also have one bond ETF too.
You’re videos help me out so much thank you for everything!!
You are so welcome! great to hear it Steve,.
Thanks alot!!! I didn't know that the 4% rule was so easy.
Always dropping heat
thx Jamon :D
Hey Humphrey - For compound interest to work, does it all have to be in the same account? Or could I have some in a 401k and some in a brokerage and get the same returns?
My inheritance is already more than enough to retire on. Should I even bother saving/ investing or splurge my income?
Calling maximizing income as the best way is discouraging when you are on government mandated income limits. So its cutting expenses and savings rate per investing
Awesome contents!
Great video thank you
I like the way you showed Mike Ross from Suits whilst saying how they've put in the work ay law school 😂
When computing my magic retirement number should I also be accounting fkr inflation? Thanks Humphrey, really love your videos!
@joaquin Lacson no 4 percent already account for that at 2 to 3 percent inflation
Anybody know what calculator/site he is using for the projections?
a worth watching video, The more you have income the higher will be the spendings....
Thanks
What about the inflation?
Don't we need to account for inflation for our estimated yearly spending at time of retirement?
Thanks
Its included dont worry
Excellent advice
Thank you
Can do a video explaining Gold IRAs ?
Bitsubishi Public Presale is Live! Details ???
Not sure if I want to retire early but I do wanna have flexibility to do things while working
Thanks
This is an awesome video. We love the way you broke everything down in a simple yet compelling way. Excited for more of your videos to come! :)
@♜þinned ßy Humphrey yang scammer ALERT !!!
Great informative video as always! I am 24 just started full time work (just graduated college) and I am contributing a solid amount to my retirement accounts and have predicted my account values over time. I am concerned about inflation down the road ($1,500,000 today will be worth significantly less in 20-30 years). How much do you think this will affect our desired target retirement savings amount? I’m worried that I will have to save significantly more (close to double what was discussed in this video) to comfortably retire as inflation will take over… what are your thoughts on this? Would you consider making a video on inflation and how it will affect our retirement savings? I think that would be really interesting
hi Michael, great point. Ideally all your numbers are being adjusted for inflation as time goes on. Set a long term assumption for the inflation rate (2 - 2.5%) and create a plan that accounts for that. I think EarlyRetirementNow (the website I mentioned in the video) has some great models for these scenarios. Inflation recently has been a huge B**ch, but usually its much lower.
Any ETFs in specific you’d recommend for 2022 given the state we are in currently? Lol I have a 401k from work and maybe 40k in various stocks in stock market and unsure of what to do with it this year have been putting into VOO and nvidia/apple mostly this year after watching yours and others videos.
Im still in mostly VOO. If you want, you can look at high dividend yield ETFs or mostly value ETFs. SPHD.
@@humphrey thanks a lot for the response bro! I have some invested in SPYD but like you I feel VOO is maybe better long term since I’m under 30 years old. Keep the videos coming 👍🙏🏻🙌🏼
Hey Humphrey what if you have that money in a high interest yielding account and maybe some of it in earning interest as crypto in a Celsius or blockfi earning up to 8%. If you only spend 7% you technically will never run out
Thanks
You didn't give the 10-year example. I saw 17 years and 24 years.
I’m 22 I make about $125,000 I want to work another 43 years then I will have $5.6M
damn where do u wrk i need money like tht lol
What’s now might not be forever. That’s the first rule you should have when earning money. I made £50K a month at 23. I’ve gone down to £10K and now I earn £350K a year, so don’t be complacent.
@@zepho100 yeah that could happen too but I’m just calculating my current situation perspective.
@@elidavid3599 I worked for cybersecurity also at turner construction.
Hey Humphrey, I’m 26 making about 60k a year I have a 401k with a 5% match from my employer and I have a RothIRA that I max out each year. Should I open another investment account for me to dump money?
Buy housing?
I think you are doing OK, if you have excess cash then yes, otherwise just keep doing that and try to increase your income.
You will need a bridge account if you plan to retire early. You can't access the 401k or ROTH IRA until 59.5.
Yep.
Awesome thank you!
Thank you
I’m 19 but will I get social security?
Notification gang!!
Damn SHAWN, thank you.
Nice video
Thanks
More income!
it's less daunting if your goal is having enough to retire on time early
True!
I approve sir 🐐
Whats web site is the calculator you used?
It was a Fidelity Investment Calculator. I looked up Investment growth calculator And it was the first to pop up
What about being 63
You could have actually done the 10 year example since that was your title…
This has been on my mind 🤔
By the fast increasing inflation it's getting harder and harder to retire early.
90 k salary ending up as 6k net pay?!that doesn’t sound right at all
You do your thumbnails on your own?
Thanks
If you want to retire early then don’t create kids. Kids = expenses
And property taxes
Just saying but you're copying the Exact thumbnail and almost title as one other RUclipsr exactly like you but done it before you mark
Mark tilbury btw
why in the world are you not accounting for inflation??? 1.6 million in 30 years will only be worth half of what it's worth today.
When you say retire with 50 to 60k is that money taxed?
Shouldn't we take this and double the amount we expect to spend per year? In 30 years it will have half the purchasing power. At current rates this video only works with the total destruction of the entire US Federal government and reserve.
Nah, I have to work for health insurance.
I normally like your videos but this one was clickbait. So it's NOT how to retire in 10 years then is it?
Making $90,000 a year is a stretch
Yes sir 👍🏿👍🏿
6k take home on a 90k salary is not even close to reality. Try 5
Im planning to retired at the age of 30, i know it sounds crazy but i want a simple live XD
Thanks
You already make 🔥tho
I appreciate you man!
I just want to make them even better, and fun to watch. I sometimes don't love my own content which I think says something about it.
Congrats on the click bait title where you mention that even saving 50% of 90k a year would mean retiring in 17 years. If it’s so easy to do 10 years why are you not retired yet lmfao
🐐🐐
No mortgage but you have to pay property tax bro… lol
retire early
Wish I was making 60k a year
Thanks
Wow, so if you want to improve your financial goals, go out and make more money... my mind is blown 😴
First
Nice.
Second haha!
Crypto currency and NFTs will outsmart the banking system in the nearest future serving as a global fiat. Already making over 85% profit from my current investment
Please how safe is the profit
If you listen to these RUclips guys most aren't professionals and chase big returns by investing in their latest sponsored hot picks, you’re likely to overpay.
@@thehunter9853 After my experience in 2017 of slow emotional torture here is my strategy i don't hold minor companies except i want faster profits at that time or when i get greedy i then opt for them through a Pro only because being very much more profitable it is riskier too and i can't handle Lol.
@@kathleenstoner.n7499 Smart Strategy! Pls where can i check ROIC, Market Cap, e.t.c. And again who is the Pro you work with? Can i hire or work with him?❤️
Don't know if this is wrong. I work with "Sandra Yvonne Webster" She's quite popular and a director with NTS. You can look her up online. in all honesty, she is an Angel.
Sorry boo, too vague
what can I do better!?
@@humphrey I was hoping for clarity on how to work out your magic number in detail, because I'm just using my living costs that I use now but I want to know how much inflation to include in that goal, and how to work it out so that I retire in ten years. Its seems the sums you gave calculated how many years, but how can I calculate it backwards knowing how much money I need to start with? Also the how to make extra money was where I lost interest because it seemed subjective. I still love the videos this is just how I felt watching
@@lloydloots90 Thank you for the feedback. A lot of what your magic number is has to do with what your expected lifestlye is. If you know how much you spend right now, it becomes a bit easier. Say you spend $40k a year right now, and you want to retire off of $50k a year ($10k more per year, so about $833 more per month). Take $50k and assume an inflation rate of 2% and use an inflation calculator to determine what that future amount looks like, then work backward from there. I will try to be more thorough next time
Arent u like broke when you retire if you only get 3-4k a month?
Thanks
I have no marketable skills. Your video is invalid.
Thanks
This is a great comedy channel. The concept of early retirement even having enough money to own a home is good stuff. However wrote this script should get an award. Retiring early without generational wealth is truly the biggest joke.