Boomer here, still working and want to / hope to / have to keep up the income and 'nut' collecting for my retirement winter until 70. Great to meet you Lane and your team for not only a financially but mentally and physiologically rewarding discussion/analysis/plan for me and my wife & family. Nice video here and others and your reference book is hitting the front door this weekend via Amazon. Onward and Upward To the Future!!
A perfect storm is brewing in the United States. Inflation, bank collapse, severe drought in the agricultural belt, recession, food shortages, diesel fuel and heating oil shortages, baby formula shortages, available automobile shortages and prices, the price of living place. It's all coming together and it could lead to a real disaster towards the end of this year (or sooner). With inflation currently at about 6%, my primary concern is how to maximize my savings/retirement fund of about $300k which has been sitting duck since forever with zero to no gains.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
These are the conditions in which life-changing money is made by those who remain calm, patient, and take controlled risks. Volatility goes both ways. The bigger the red candles, the bigger the green ones.
I don't know much about the market, but based on what little knowledge I have of economic supply and demand, this is the best time to venture into the market, but the only thing holding me back is the constant fluctuations in prices, which it's not supposed to be a problem, but i really need guidance because i want to use this avenue of everything being on discount to build a portfolio that pays dividends and takes care of me in retirement.
I started investing in a custodial Roth IRA for my son when he was 16 years old. He's now 19 and has added a 401(k) to his portfolio. I told him then and I'll contiue to tell him not to depend on the government or an employer for financial security.
Great video, still many years away from retirement but I am enjoying watching your video and getting a better idea on what to plan for. I did want to ask you a question about with HSA funds. Can they be use to pay for Medicare premiums and deductibles when the time comes?
“You can even use your HSA to pay for some Medicare expenses including your Medicare Part B, Part D and Medicare Advantage plan premiums, deductibles, copays and coinsurance. Note: HSA funds cannot be used to pay for Medigap premiums.”
I moved back into my rental property for 2 years remodeled it and sold it last year. I’ve was told if I moved into it and then sold it I would not get hit with appreciation taxes. Is this correct? PS. Sold it to relocate
Lane, thanks for this video - as someone who has been around for a while but not yet in retirement I can say that the retirement of the Baby Boomer population and the resulting depletion of the Social Security trust fund is something that was projected back in the 1970s. For a person like myself who is at the tail end of the Boomer retirement wave I have been aware for decades that my social security benefits were at risk, all the while stuck paying into a system which, in the end, might not provide me much at all. Both Republican and Democratic congresses and administrations just ignored the problem and kept kicking the can down the road - they both did absolutely nothing about this. So, when someone asks you how we got into this mess, the answer is simple - no one wanted to do the hard work of shoring up this system to ensure that benefits could be paid. In fact, our national debt is a testament to how fiscally irresponsible our leaders in Washington have been, regardless of party, so its no surprise that Social Security was not handled responsibly either. You mentioned how life expectancy has increased dramatically over the last 120 years - this is due to breakthroughs in science and great advances in medical knowledge. Unfortunately, our social and moral growth has not kept pace, which might result (and, in many cases, has already resulted in) older folks having to live in poverty, without any dignity, even when working and contributing to the Social Security system their whole lives.
This gentleman is one of the sharpest thinkers in the RUclips financial sphere!
I agree!!
Boomer here, still working and want to / hope to / have to keep up the income and 'nut' collecting for my retirement winter until 70.
Great to meet you Lane and your team for not only a financially but mentally and physiologically rewarding discussion/analysis/plan for me and my wife & family.
Nice video here and others and your reference book is hitting the front door this weekend via Amazon.
Onward and Upward To the Future!!
A perfect storm is brewing in the United States. Inflation, bank collapse, severe drought in the agricultural belt, recession, food shortages, diesel fuel and heating oil shortages, baby formula shortages, available automobile shortages and prices, the price of living place. It's all coming together and it could lead to a real disaster towards the end of this year (or sooner). With inflation currently at about 6%, my primary concern is how to maximize my savings/retirement fund of about $300k which has been sitting duck since forever with zero to no gains.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
These are the conditions in which life-changing money is made by those who remain calm, patient, and take controlled risks. Volatility goes both ways. The bigger the red candles, the bigger the green ones.
I don't know much about the market, but based on what little knowledge I have of economic supply and demand, this is the best time to venture into the market, but the only thing holding me back is the constant fluctuations in prices, which it's not supposed to be a problem, but i really need guidance because i want to use this avenue of everything being on discount to build a portfolio that pays dividends and takes care of me in retirement.
"DEBORAH DIVITO WELCH" does a good job. She is quite the genius in portfolio diversification. You can look her up on the web as she is SEC regulated.
credits to DEBORAH DIVITO WELCH, one of the best portfolio manager;s out there. she;s well known, you should look her up
Thanks for the time line of events
I started investing in a custodial Roth IRA for my son when he was 16 years old. He's now 19 and has added a 401(k) to his portfolio. I told him then and I'll contiue to tell him not to depend on the government or an employer for financial security.
Great video, still many years away from retirement but I am enjoying watching your video and getting a better idea on what to plan for. I did want to ask you a question about with HSA funds. Can they be use to pay for Medicare premiums and deductibles when the time comes?
“You can even use your HSA to pay for some Medicare expenses including your Medicare Part B, Part D and Medicare Advantage plan premiums, deductibles, copays and coinsurance. Note: HSA funds cannot be used to pay for Medigap premiums.”
Do you recommend any online (do it yourself) will/living trusts companies???
Thx
I moved back into my rental property for 2 years remodeled it and sold it last year. I’ve was told if I moved into it and then sold it I would not get hit with appreciation taxes. Is this correct? PS. Sold it to relocate
10,000 people retire every day. but remember 7,000 people over 65 die each day.
Great video
I got more out of this than I asked for. I just wanted to know how long retirement had been in existence.
Cool
Lane, thanks for this video - as someone who has been around for a while but not yet in retirement I can say that the retirement of the Baby Boomer population and the resulting depletion of the Social Security trust fund is something that was projected back in the 1970s. For a person like myself who is at the tail end of the Boomer retirement wave I have been aware for decades that my social security benefits were at risk, all the while stuck paying into a system which, in the end, might not provide me much at all. Both Republican and Democratic congresses and administrations just ignored the problem and kept kicking the can down the road - they both did absolutely nothing about this. So, when someone asks you how we got into this mess, the answer is simple - no one wanted to do the hard work of shoring up this system to ensure that benefits could be paid. In fact, our national debt is a testament to how fiscally irresponsible our leaders in Washington have been, regardless of party, so its no surprise that Social Security was not handled responsibly either. You mentioned how life expectancy has increased dramatically over the last 120 years - this is due to breakthroughs in science and great advances in medical knowledge. Unfortunately, our social and moral growth has not kept pace, which might result (and, in many cases, has already resulted in) older folks having to live in poverty, without any dignity, even when working and contributing to the Social Security system their whole lives.
Thank you for your comment. Well said!
Absolutely correct and well said, being a fellow baby boomer “tail ender”