It would be great if you can slow down your cadence in your videos. You have two options: 1) Slow down your delivery (you talk too fast): you are overwhelming your audience with information.... Make more videos about the same topic, like part 1 and part 2 and try to slow yourself down, OR 2) Do not do anything about it, and risk losing potential subscribers. Also, remember you surely have an international audience of non-native english speakers... (I am one of them). I do not have time for watching the same content two or more times just because the narrator has a rush to deliver information. Great content by the way, but... just slow it down a little, please.
@@HowMoneyWorks So right now i live in an area and in an apartment i would never ever be able to afford, so 95 was a good year for me to buy a place to live :)
@@mrt6349 Which leads to the problem today where many people are speculating that housing will continue to increase more in value in the future, which further drives up the unaffordability of homes which is a cycle a self fulfilling prophecy.
@@mackeejack6731 every sentient being works to maintiain it’s survival. However, there are a plethora of alternatives to being employed for someone else and throwing all your savings into a retirement fund.
Yea absolutely a waste of life we were not put on earth to work for paper the old generation thought we were put here to do hard work for others and get the scraps
Me too, man. I'm trying my best to get out of this ASAP, just trying to make and leverage money as much as possible until I don't need to work. I really don't care about anything else. And trying to eat healthy so I can hopefully live in good health when I'm middle aged/old. Well fuck, I'm 36. I'm already near middle age. LOL I'm either going to get rich or die trying, I suppose.
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.
I, a millennial, can absolutely guarantee that I won't be working in my 70's. Because I'd be lucky to make it to 60 due to a medical condition. This is the best-case scenario, at this point.
Another words you cut out anything that has a price tag on it. Instead throw all your funds into investments, and savings. While dying in the gutter hopefully you don't collapse from lack of food, water, and other human needs before you accumulate enough. Oh you'll retire alright via this approach, retire into death. You devised the same retirement plan I have imagine that.
@@user-gz4ve8mw9l exactly the way I think like I’m not giving up I’m still trying I just see through it all currently working as a carpenter when I have an associates degree in occupational studies for studying automotive and diésel/hydraulic s I got good grades excellent attendance pretty much everything was set for me to have a job in my field but at the time I was smoking bud but only because that’s the only thing I could do besides some calisthenics in my free time I had to drive an hour and 20 mins everyday to get to school and back home so 3 hours in total but they’ll allow you to get a job if your a alcoholic and nicotine addict but god forbid I get a career in the field I studied for cause I smoke a little lettuce fucking stupid if you ask me they would rather prescribe me some kinda pills and tell me to pick up drinking instead
I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.
Rising prices have disrupted my plans to retire at 62 and work part-time while saving, causing concern about the challenges compared to those who faced the 2008 financial crisis. The stock market's volatility and a reduced income are causing anxiety about having sufficient funds for retirement.
Consider developing a diversification strategy amid the increased complexity of building a financial portfolio post-COVID. Following my colleague's advice to hire an advisor, I've gained over $310K with my coach's guidance during this market downturn, employing defensive strategies to protect and profit from the roller coaster market.
@@ThomasChai05I'm intrigued by the idea of investing with an analyst, it seems like a wise choice in today's market. Could you provide me with some guidance on how to get in touch ?
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I'm 55 and in the IT industry. One of my big fears is losing my job before I have enough to retire. IT employers discriminate against older workers. My biggest fear is for my children though. The future doesn't look good at all.
My dad had a hard time finding work in electronics because of this. He has a masters in engineering and worked on boats as chief engineer on boats for years. He had to retire early due to boat work physically breaking him and while he had money he still wanted to work for extra income just in case. He chose a field in electronics because my dad is the 60-year-old man who can tear apart your iPhone, fix it, then give it back to you as you look up what's wrong with the engine in your vehicle while he turns around and fixes your engine. He's that good. So that's what he was applying for. The younger kids didn't like him being around because of how much he knew and even though he had a degree in his field, it was originally all self taught BEFORE he got the degree. He eventually had to work online fixing phones.
@@Duran762 My Father was a unionized worker. He never missed a day on the job...never. He was able to pay for my advanced education (though I started out in a very rural wooden schoolhouse with very devoted teachers). My parents handed me the possibility of a great future and I seized the opportunity. I'm a big fan of unions.
Big companies employ forced attrition tactics to shed off older employees and once you’re layed off older employees will have a very hard time getting employment; conscious and unconscious bias and discrimination exists.
And this excludes the fact that when we get old, there is more chances of crimes being done against us because we would have either ressources to take or no ressources to fight.
@@Baker.Matthew I can recommend a vegan diet chugging seed oils with sugar, that combination will certainly kill you pretty fast, and the best part is you won't even remember your last years because of the dementia.
@@Gengh13 wait, why are seed oils bad? I know good fats are good and weight gain is all about calories and what time you eat.... but not about the dementia you mentioned
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?
It's true that advisers have a function that cannot be discounted, simply ignored. During the COVID-19 pandemic in early 2020, I saw a minor decline in my portfolio worth around $300,000. This decline was likely caused by the pandemic crash, so I immediately sought advice from an adviser to prevent panic selling. Due to my proper delegation of my excesses, my account has produced large yields and leverages on a 7-figure basis as of right now.
@@PhilipDunk this is huge! mind if I look up the advisr 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
My financial advisor is “Vivian Carol Gioia” I found her on a CNBC interview where she was featured and I reached out to her afterwards via her website
I'm 44. Last year, I saw a retirement advisor. He said I'm on pace to be $2,000 a month short of what I'll need to just barely survive. His advice: Just keep working.
My spirit was already crushed before watching this video. I was born poor, raised poor and I am still poor as a working class man. I will most likely die penniless under a bridge during a harsh winter. Wish me luck.
I don’t agree with the quote, “All the easy innovations that drastically improve productivity have already been made.” That reminds me of the quote from the US Patent Office Commissioner in 1899: “Everything that can be invented has already been invented.” Look how long that lasted.
It is a theory based on the assumptions of: 1)No more major developments, and 2)A fixed and unchanging environment to develop. Both assumptions, as you point out, tend to be VERY wrong.
Yeah but now to improve requires expensive research and development that only those who are already financially secure can afford to do. Joe Sixpack isn't going to improve the way electronics function in his garage.
The way things are going, once i get so old no one will hire me or I can no longer physically or mentally work, my retirement plan is a nice nap on some railroad tracks.
I told my father, who worked as a lumberjack in bumfuck nowhere and wanted me to continue in his footsteps, that while I’d love to have a steady blue collar job, I know I won’t be enjoying a pension in my lifetime. Neither did he, who put in the extra hour and sweat to secure his retirement, only to keel over from a heart attack in his fifties. Now I got a job with a liveable (though not competitive) salary, but every day that I get to clock in is a joy and puts no demands on my health. I can see myself doing this until I’m 80 and feeling great about myself. Sometimes I get fomo from not being on the hustle and grind side of life, but I think life is too precious to intentionally do something that makes you want to die.
I think that’s the key! Expectation management and finding a job you actually enjoy doing. Retirement it great, but most everyone I know who are retired still do some form of work out of pure boredom.
I've been diligently working, saving, and investing towards financial freedom and early retirement. However, the economy's downturn since the pandemic has significantly eroded my portfolio. My question now is: Should I continue contributing to my portfolio in these unstable markets, or should I explore alternative sectors?
I'll tell you that it's practically hard to rebuild your retirement on your own, without a partner's assistance. Not even NewRetirement and associates can match the skills, experience, and broad clientele of a professional financial advisor. Assess and select one, and then use a financial advisor to help you allocate your funds.
As a contractor, my job leaves me little time to thoroughly analyze my investments or evaluate stocks myself. Therefore, for the past seven years, I've entrusted a fiduciary to actively manage and adjust my portfolio to align with current market conditions. This approach has helped me navigate the ups and downs, knowing when to buy and sell. Perhaps you should consider a similar strategy.
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 was (sorta) raised this way by my grandparents on the Chinese side of my family It actually works pretty well and helped me have a great relationship with them when they were still alive. Multi generational households are awesome (when done out of desire and not economic necessity, anyway!)
Usually you have 2 or 3 kids. This way your retirement is not a burden on one family but 3 families. This way it is shared. This is one of the reasons Chinese families will face a lot of issues in the future.
an added benefit of people needing to work into old age is that they take up room on the corporate ladder further holding back younger generations from retirement. ♫♫ IT'S THE CIRCLE OF LLIIIFFEEE♫♫
@young98 Or buying some plot of land and wait for your beans to ripen while reading « _The limits of Growth_ » by Donella Meadows / Randers / Dennis Meadows
Retirees facing difficulty in meeting their basic needs are often those who couldn't amass sufficient funds during their working years. Various factors contribute to the outcomes of retirement decisions. For instance, my wife and I both served the same number of years in government service, yet we took different investment paths-she opted for a wealth manager, while I chose a 401(k). Despite our retirement, both of us continue to engage in work.
Stacey appears to be really knowledgeable. Her resume, educational history, and qualifications were all quite good when I found her internet page. She will act in my best interests because she is a fiduciary. I thus scheduled a session with her.
People forget that retirement used to never be a thing and multi-generational homes were the norm. What actually changed that? 2 world wars in a 20 yr span.
Ah yes... Wealth extraction of foreign lands under 'Dollar Imperialism' of the 20th century giving rise to a cushy 'middle' class sitting on unprecedented piles of wealth. Sponsored by the company that oversees/manages all Western-allied banking systems, The Fed™
The real issue is that so many people are living above their means, or what they can afford. If you don't have good credit, no savings, no investments, and are still paying off college loans, then you should not be paying rent or a mortgage. You can't afford either yet until you improve your personal financial situation. Also, your day job should not be your only source of income. You should consider having/finding/creating multiple streams of income. What skills do you have? What are you naturally good at that can earn you more money? Rent is also a waste of money because you are only paying someone else's mortgage instead. If you lived at home with family for a couple of years, you could use the money you saved to invest in yourself and your future. Ideally, you should live at home until you either reach a certain level in your career or finances, where you can easily afford the lifestyle/future you want, or until you marry; but I don't suggest marrying too early, but later in life so that you will be mature enough to marry well.
@@tdr.220 This reads like one of those get rich quick RUclips ads. "Invest in yourself." "Have multiple streams of income." "Find something that you're good at and inves in that." "Don't ever rent." These are all catchphrases and generally useless advice. Investing in yourself means nothing. The thing that you're good at may not make any money. If having multiple streams of income was easy, everyone would do it. Same for owning a house.
@@LordofTheFallen Maybe thats why he said "What are you naturally good at that can earn you more money?" not "What are you naturally good at? Use that to make you more money". But facts though, just because these advice were given by get rich quick RUclips ads, doesn't mean they aren't true. I've been saving and living WELL under my means, and I now able to own a 900k family home, with savings to spare, while I drive a beater. The home is my first step into property investing as well, I plan to rent it out to generate income because I'm not married yet and have no problems living with my parents. I'm 29.
@@msiankid So you just started getting into real estate, and you already fully own a $900k home, plus savings to spare, and you're sitting on this house without actually having done anything with it? At 29? You'd need to save, not make, *save* over $100k a year to pull this off at your age. Somehow I doubt that your success was due to you driving a beater. If this is even true, you're so far above the average person financially that no one is going to be able to follow in your footsteps. If I was making over $100k a year in my twenties I also wouldn't have any issues with money.
I think the key point or difference is that the true and big innovations are happening at the already big companies and are actually concentrating wealth more and more. Developments that are about to be created like AI have a very high probability of being "winner takes most". Meaning very few people will be on the receiving end of the benefits this new technology will bring.
The point is that exponential growth is now coming up against hard physical limits. For example from walking to the development of modern day jets cargo moves 100x (6mph-600mph) faster which creates jobs as well as furthering the economy. There isn't a another 100x jump because a plane that does 60000mph is uselessly fast. Now while there are developments they are unlikely to create more jobs because similar limits are now reached in human brain capacity, so yeah there will be innovation in ai, robots etc that will be greater than the leap between speech and modern life however I think what hmw is saying is that those innovations don't drive the economy/ quality of life for regular people on the way that the invention of planes did.
@@JimmyA459 You are missing the mark, that is like someone in the 1700's saying the only way possible to reach maximum velocity is to breed a horse to go faster. Nobody knows what the tech of the future will be, there are even realms of physics that scientists don't even understand yet... Technological efficiency/progress continues to speed up as more things become automated and efficient, freeing up more minds to come up with even more solutions to problems. Humans *will* continue to improve efficiency in creative ways that no single person could possibly fathom.
@@snakezula yeah like I said in my comment the advent of agi will be greater than the leap between the first spoken word and modern day technology. Clearly extreme and widespread innovation is inevitable but they key difference is it won't drive the economy in the same way. Invention of the train needs more coal miners, more steel miners, engineers, ticket salesment etc etc Invention of agi needs a select group of programmers and a small number of support staff. Once you have that technology the number of jobs that a human mind can do is massively reduced.
@@snakezula To the part about thinking in velocity etc being wrong, this isn't the realm of inventions/ engineering we are coming up against the hard physical limits of our reality.
There is another scenario in US. You working... You saving money... You doing well...and then you getting sick and loosing everything on medical bills.
Tex-advantaged retirement funds are exempt from personal bankruptcy. The only way you're going to lose them to medical bills is if YOU decide to tap into them for experiment treatment.
Most people saying the insurance isn't enough have no idea how it works. Once you hit your deductible for the year, you no longer are paying out of pocket. If paying the deductible of $8000 is impossible, you need to save more money.
I cringed every time one of those woodworking stock clips came up; every single one had some degree of unsafe behavior. - Blade depth maxed out -- you should only have blade depth set to clear your cut. - Missing guards -- What idiot would run their jointer without the guard, or their tablesaw without at least the riving knife -- maybe that's a zero-clearance insert I see, but why would you be ripping down lumber with a ZC insert? The miter saw literally has the guard disabled... - Total lack of push sticks/blocks -- Again, jointer without push blocks? Tablesaw without a push stick in sight?
These clips are stock footage he gets somewhere. Their purpose is not to represent perfectly what they are showing, but rather convey the idea. Seeing the sawmill spin while cutting the wood conveys the idea better than a perfect length blade that doesn't show on the surface.
@@skyranger1366 Trump wasn't doing much differently despite what his media is going to keep saying. The two party split is a lie, they're all on the same team.
My wife and I did very well in the amount of money that we amassed for retirement. Well over 80% of that money averaging about $2 million was made because of taking advantage of buying high-end stocks at a deep discount during the Great Recession. 2009 I fired the stockbroker got rid of all mutual funds and bought individual dividend stocks. Be patient don't get scared and do your homework and you can make a killing.
Well, the top players and pros have exclusive information and data paths that are not disclosed to the public. Knowing the strategies to use during this time is one thing and having the right information to execute them successfully is another.
@@alexyoung3126 I agree. Based on firsthand encounter with a fiduciary counselor *Ingrid Cecilia Raad* , i have $385k in a well diversified portfolio which has grown by 3x with compounding, venturing doesn’t necessarily boil down to money but you also have to be informed, be patient and back it up with good hands
@@joesphcu8975 Awesome! your potential seems limitless. I'm fascinated with investing, I’m delighted to engage in this opportunity, I just found the professional’s web page and have already written her
The depressing part is by the time you're "retirement" age you really can't enjoy yourself. I don't see many 70 year olds playing hockey, water skiing, etc. That's why I think it's important to rub elbows with people that are financially comfortable & enjoy the luxuries as early as you can.
Umm, No! You build income streams outside of your job so you can have additional income to invest and live on. Too bad no one believes in themselves enough to do this because it works. You can retire early if you have enough cashflow monthly coming in.....work on that vs thinking you have to buy stupid shit early on in life to enjoy it.
It's called being old. You don't have the same desires anymore. My parents are wealthy. Healthy and energetic. Yet they prefer staying home in there routine...
I think one thing not mentioned in this video is that for every year above 60 there is an rapidly increasing chance that you may either not be able to work in a job that pays anything like as much as when they were younger, or you may not be able to work at all. This is compounded by the fact that forms of worker insurance (tpd income protection) get extremely expensive in those years too. Although medical care has improved, it has become expensive and there are no cures for many of the ageing diseases or conditions such as dementia, skeletal damage and cognitive decline.
I liked your comment, but you could clearly stand to learn about nutrition. Dementia/Alzheimers/cognitive decline is being shown rather consistently in current research to be Type III diabetes, and if you ignore the propaganda put out by the pharmaceutical companies and those in bed with them, you’d know that diabetes can, in most people, be completely reversed by cessation of the consumption of carbohydrates and plant oils. You don’t have to believe me, but keep an eye on the people in your life that eat the most plants and plant oils. Rail thin or marshmallow man fat, weak, and cognitively impaired. Maybe look into the concept of “The Randle Cycle” (aka the Glucose-Fatty Acid Cycle). Maybe look into consumption of plants and bone density (more plants, weaker bones). And then there’s the linkage between gluten consumption and mental instability. Pizza party anyone??!!
Fasting is the best thing for dementia and cognitive decline. This will be more widely known in the next 20 years or so as they do more and more studies on fasting.
This is also the same guy who said in the intro something to the effect of “people with diligent savings plans....” And then showed a news article in the next slide that said “I HAVE NO RETIREMENT SAVINGS”. Not sure attention to detail is this guys strong suit. Certainly won’t be entertaining his financial outlook with much more than feigned interest.
The person who is speaking is probably not the same person who is choosing the stock footage. Neither are likely to be the person who is actually writing the script. There are going to be discrepencies.
@@dismayedtrinket2518 yes but, he always dismisses super demanding jobs, like trades --> plumber, electrician, carpenter etc.. those jobs pay way more than any desk job. Because supply and demand.
@@cautarepvp2079 He uses them as a metaphor, not literally. It's quite a bit easier to imagine the work of a plumber as a blue collar worker than to imagine what some sort IT consultant or whatever does.
According to the New York Times, the average savings of a couple reaching retirement is $110k I’m closing in on my retirement and I’m under pressure to grow my reserve of $330k, despite the fact the capital gains you can make on growth stocks far outweigh dividend yields, and even in downtrends folks still pull off 6-7figures gains in months. surely the risk is much greater, but I’d love to know how.
I feel your pain, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $130k in passive diversified safe-haven assets, Up 200k so far and pretty sure I'm ready for whatever comes.
I would not mind looking up the professional That helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Lisa Ann Moberly 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.
There’s always someone claiming innovation is coming to an end, and we always innovate right past them. Living in fear and staying out of the market certainly isn’t going to get you anywhere.
@@aaminsaan4978 that book is like junk food for the mind. I'm not saying first comment isn't true still. But you can find better mentors with more realistic approaches to money and finances
You poor souls. Do you know the single statement that describes reality ? " This to shall pass" Our finite resources are our doom. We should reach for the stars . But we might be to late .
@@remusionutotelita1559 Well, we could make a whole new business out of recycling. How much money would we make of recycling every recource we have on this planet? - A lot.
“All the easy innovations that drastically improve productivity have already been made.” as an engineer I can assure you there is WAY MORE left to be invented than what we already have - especially if you leave out the “easy”
The easy part is key I think. There's a lot more to discover, but it gets harder and harder, building on top of what came before. Which means it's more likely to be created by a large, already well-funded group, which means the benefits disproportionately accrue to those who were already well invested, not people trying to get their foot in the door.
I agree we still have plenty we can create. The issue is that people who can make these things aren't getting the funding that they need and the people who have the funding from their own inventions/creations/investments are so set for life they no longer really try to innovate. The issue is stifled innovation from growing inequality issues.
That's his entire point. Easy innovations are cost-effective innovations. Much of the innovation going forward is REALLY expensive. We've completed the low-hanging fruit, especially when it comes to automation. Those are the innovations that saw 100%-500% increases in productivity for a relatively low cost. Now we have this 10% remaining where you might get a 10% increase in productivity, but it's going to cost you 10x more than the first 100%. It's not an issue of funding, it's an issue of value-proposition. It's only going to get LOWER over time, since automation is the end game.
People do not realize that working past 60 is extremely difficult for any physical type work. Mental work,, not as bad, but still a problem. Another thing people do not consider is that the current births per woman is now at around 1.7 per. Meaning we are now at a negative population growth. All of the so called "economic theories" taught for the last 100 years is quickly out dated.
Global population is still rising, for now. Fertility rate around 2.4. It varies greatly though, and many countries are well in to the negative now and depend largely on immigration to continue the all-important growth. US, for example, 1.6 - but still has an annual 0.5% population growth. Immigration has down sides though. Not least of which is that the existing population is often intensely hostile to the idea, distrustful of outsiders and disliking the cultural changes that come with mass immigration. You can see that in the way many politicians have succeeded by appealing to anti-immigration sentiment.
Population reduction is not a bad thing in some parts of the world, but from what I am seeing the entire western "1st world" is about to hit steep population decline. I won't bother going into why since entire books have been written on the subject and few seem to agree on the main cause. A gradual decline would be manageable but the numbers in some nations are below 1 child per. The disruptions caused by this are difficult to predict, but there certainly won't be enough caretakers for the elderly for one and if automation hasn't caught up enough there won't be enough workers in general to maintain those civilizations. Immigration is not a solution either, since most immigrants lack the wealth, education, skills, or motivation to maintain the civilization. Perhaps immigration is the only stopgap measure before full automation though?
@@Ziegfried82 Immigration is only going to push back the issue in time, as they will import their entire family, which will need even more immigration to take care of when they are old. That is assuming the immigrants actually pull their weight, which in the vast majority of the cases they are not (due to various reasons like not mastering the language, lack of education, etc).
My $2m retirement account has gone up only by 2% in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate peace? I don’t want to fail after 22 years of working hard.
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
*Sharon Lynne Hart* is the licensed advisor I use. Just search the name. You’d find her webpage and necessary details to work with to set up an appointment.
Retirement is a fairly recent phenomenon (within the last hundred years) and is a function of significant wealth and prosperity. Multi-generational households are incredibly common historically. I agree our expectations need to change. Our generation is not our fathers, and our struggles will be new and unique.
You are correct. Our generation have different timeline to deal with. If our generation will have more people reaching 90, then these seniors have a different situation compared to our grandparents. If I will be forced to retire by age of 65 and live until 90, what will I do for the 35 yrs, if I am not allowed to work anymore? Scary thought if you ask me.
Yes, but we are paying abusive taxes for services, retirement of the baby boomers that we are not going to enjoy. That's totally unfair. This is not about rich vs poor, but an abusive older generation vs younger people.
Really enjoyed this video. I'm considering your advice, because thousands of dollars have been disappearing from my 401k due to soaring inflation, and my concern is where to safeguard and grow remaining cash about $500k+ for the next 2-3 years at no risk. I'd love to retire early and afford a life after retirement.
I may be unable to offer personalized investment guidance, but then I suggest consulting with a reliable advisor to ensure appropriate investment planning.
Agreed, I’ve been investing in the stock market for 11 years now, last 5 years with the help of a financial planner apparently due to the covid-19 pandemic crash. Throughout these years of guidance alone, I've been fortunate enough to 10x my return as a DIY investor, summing up nearly $1m roi as of today.
My licensed adviser of choice is Rebecca Nassar Dunne. Just look up the name. In order to schedule an appointment, you would find the required information. She is quite talented.
No what we're saying is you could put 100% of your income aside to save for a home and still never buy one. Enjoy your avocado while you still can, and retire with a 12 gauge.
@young98 Faced with an unattainable goal makes a few hundreds or thousand dollars meaningless, might as well risk it. Not like you'll get a house or land with your current income.
Enjoy your toast, because when your 60 plus, and cannot afford to retire, but your health is crap, and facing eviction and living in the street. The only retirement plan in America will be to rob a bank, go to jail, where you will receive food, healthcare, and shelter. Prison will be the future retirement home of elderly Americans.
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.
45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.
Your adviser must be really good, I hope it's okay to inquire if you're still collaborating with the same adviser and how I can get in touch with them?
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 ‘’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.
“Owning a house means you don’t have rental expenses…” That might have been true for our grandparents, but at $10K/yr for taxes and insurance, you never own your home and those costs will go up every year.
Not everywhere in the US has outrageous house prices, taxes and insurance. Problem is not everybody is willing to move to where it is still affordable.
@@matthew8153 it is more than that if you rent and skip to step 2. Owner has more costs of maintenance than calculators take into account, renters can invest the saved money... ...and the second that a mortgage is paid off, the owner loses the advantages of that debt over the renter that already accumulated capital that is likely set to grow faster than the owner can invest.
@@FFAs You say that but all the people I know renting had their rents go up 30% this year while I refinanced my house and will have the mortgage paid off faster.
As someone who works in the restaurant/hospitality industry in my 30s. I've fully accepted that I will not be retiring at the standard age, I'm probably going to work forever especially if I open my own restaurant and I think that's pretty noble. Mind you as I get older I definitely won't be doing the heavy lifting but I will still be at work and managing the daily grind of the business. This is all assuming I stay in good health for my whole life, wish me luck!
Good luck pal. All I could grasp from this video is that the presenter is so near-sighted that shows they never had real life experience of career pathing and career progression. I hope you can expand and grow your business to the point of you only doing the management and then have the safety to leave to the next generation while you retire from their work based on the foundation you have built. It'll be much harder to retire in the future but don't let these doomsday predictions get to you.
The most physically healthy elderly people are often those who work.. people wither away quite quickly after retirement. Working does wonders for your mental health in comparison to being unemployed or retired, also. Not contributing to society is detrimental to mental health
As a person in my early 20s, the lack of indefinite growth has always worried me. It's not guaranteed that my retirement account will grow steadily at 6-10% over the next few decades. That's why I'm conflicted about putting money in my 401K at all. I'll have to do some calculations, but I think I might be better off investing in real estate in a cheaper country and moving out of the US when I retire.
Diversify. Do 401k, gain equity through real estate with the ultimate goal of being mortgage free and have at least 6 months of expenses in a high yield savings acct. Depending on your income it may take a while but you gotta spread things out. No one knows the future.
Gotta pick the right country AND the right real estate. And just because a property might cost less, you are probably NOT going to get a Picasso doug out of its walls. The same market forces apply. #3 should be #1. GenZ has got to solve the wealth division problem or they're toast.
@@lepetitchat123 it is a very personal decision as to where to buy. Many variables to consider. Many details to think about. You must think about all the things that you think are important. I can only answer for myself. I have lived more than 2 years in each of 9 countries some much longer. One piece of advice that is valid anywhere is ... get a local lawyer to review any transaction BEFORE you sign, or write a cheque.
@@naikjoy if it gets that bad- most of the game will be killed off fast pigeon and squirrels will go first, then the duck ponds will be wiped out streams over fished, ect
There is always the Lottery. That is what keeps the Dream alive! Actually, I think that is why there is a State lottery, to keep the poor masses hoping...
Yeah but there are people that win multiple times in lotteries by buying a ton of tickets. Some have just won repeatedly by coincidence? Either it was rigged or luck? What if I pose a third option, ex government work. Stuff that can't be acknowledged on the books because it's spy craft or special ops. But they obviously need to retire. A bit less hopeful for the poor masses now.
@@orionthehunter217 it doesn't rule out that some winners are ex government, but I'll consider this possibility as a way of having more potential in their reserves. I'm sure they don't all agree, or even get such visits most of the time.
I’d be retiring or working less in 10 years, and considering this financial recession, I’m curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $250K per year but nothing to show for it yet.
Very true, I find myself lucky enough exposed to money management at an early age. Worked full time when I was 19, purchased first home at 28, fast forward time... I'm 50 now, got laid off March 2020 amidst lockdown, a blessing in disguise. At once, I consulted an advisor to stay afloat and with subsequent investments, I'm only 15% short of $1m as of today.
Thanks for the share! copied and pasted full name on my browser, effortlessly found her site, very professional. I got some feedback hope to speak on the phone soon.
Retirement is now more difficult than it was in the past. I've been saving for a long time instead of investing, and right now I only have about $400K. considering all the inflation, i'm thinking of investing in stocks, i dont just have idea on market strategies.
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.
Having an investment advisor is the best way to go about the stock market right now. I was going solo, 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.
Already knew this. If you’re paying attention at all to events, both locally and geopolitically, you know, without understanding all of the elements, that we will retire when we are dead. Good to see someone being honest about it.
There was even an Ad not too long ago for boots that said "You'll never retire, your boots shouldn't either." They treat us like dirt and condescend to us about it in advertising.
@Danny DNA HOW TF am I being prejudiced? I saw that AD YEARS ago, and very briefly as I was walking thru a store. The sentiment of the ad was bad enough it stayed with me forever. Forgive me for not having perfect photographic memory. I will remember to start a filing cabinet for my fight against Tyranny.
That was what I was told by a lot of people in 2007, as I usually put a large portion into FDs/CDs than stocks. Then 2008 happened, and those 'investment gurus' were burned. Income slowed to a trickle/got laid off, credit maxed, and they had to sell off their now-below-purchase-value stocks for liquid cash. Same thing in 2020 for those who bought into investment-property condos in my city. Rents have dropped, vacancies are up, and folks are trying to offload their investment properties because there's no more rental money to repay the mortgages they took up.
Correct Zedarina - you have to be an active participant in your wealth generation. Savings accounts are not the answer, you can either trust a money manager in a medium-risk fund, or be diligent in learning about the stock market and market fluctuations and do the work yourself. Perhaps this is a poor analogy: you wouldn't let your child figure out "growing up" on their own. You would guide them, offer suggestions, tutor, and learn the skills required to get them a good start into adulthood. It's the same with your money.
It use to not be that way. When I was a kid(40 years ago) banks paid 5 to 6 percent on savings accounts. I even say an old photo of a bank advertising 4 percent interest on savings accounts in 1929. Banks borrow money from the FED at 05 percent, loan it to consumers at 3 percent and pay savers o percent.
And yet if one doesn't save to build up an emergency stash of cash , how does one weather a period of no income as a result of job loss or stock/ assets depreciation? The Covid pandemic lays bare the precarity of not having any savings.
Giving up your whole life to focus on retirement is depressing. Society makes it sound like you will be free on fun vacations, but reality is medical community is there like vultures to take everything you earned in life, and then some. Live now, because when you are old, you might be better off dead.
I just got a job in the ironworkers union. I am lucky enough to get a pension when I retire in 30 or so years. I am terrified tho, that the market will crash and burn before that time comes, and I'll lose that pension. Thats what happened to my mothers pension (United flight attendants union) and several other relatives. Its amazing you can be forced to pay into something that is almost definetly not going to be there when YOU actually need it(pension, social security etc). I'm just paying for the boomers to have a cushy life rn, even tho they're the ones who set up that broken system.
I think that's done by power and money. I don't think ordinary Joes and Janes have anything to do with it. If you think they've done it, then you can undo it. Or nah?
The boomers voted people in who took care of what they wanted. Take social security from working people and not care what happens to the payers when they get old
This is so true. I don't think I'll ever have enough to fully retire. My retirement age has been moved to 70, not 65. I strongly doubt social security will be there so I'll need to be saving more and more to simply make ends meet. The future is bleak. For millennials and gen Z things will be even worse.
@@jasongodek9828 By the way, don't feel bad that you bought a new car. If you intend to keep the car till the wheels fall off, it was a good "investment" to buy new. You have total control over maintenance from the beginning. Yes, buying used would have a smaller upfront cost, but it would push forward the timeline for expensive repairs. I got a new car when I got my job after graduating from college, and I'm still driving it. I'm 37 years old by the way, and yes, I still own my first ever car. Over the long term, the cost difference between new and used would have made no difference.
Recently retired and unsure if my 401(k) and IRA will provide a stable future. i need an approach that will align with my risk tolerance and financial goals, i set aside $1m to achieve this. Do you suggest i get into stocks or buy a rental property?
Look up dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, its advisable you work with a financial advisor to help set up a well-structured portfolio.
I agree. Based on personal experience working with a financial advisor, I currently have $2 million in a well-diversified portfolio that has experienced exponential growth from when i started. It's not only about having money to invest, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
I work with Sharon Lee Peoples as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
I prefer cryptocurrency. I have a Charizard card, and some others buried in storage somewhere from the 1990s. The fact people pay anything for these is sheer lunacy.
Not really its like baseball cardsand boomers, moms threw them out so they are now valuable. Its this same principle really history repeating itself with acceptance of nerd culture ala big bang theory
As a soon retiree, keeping my 401k on course after a rocky 2022 is top priority. I have been reading of lnvestors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated.
The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.
Having an lnvestment advser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K so far, that made it clear there's more to the market that we avg joes don't know
I just Googled her name and her website came up right away. It looks interesting so far. I'm going to send a mail to her and let you know how it goes.Thanks for sharing truly!
At my first job there was a guy named greg. One day my commercial manager told me: look at greg. He has everything figured out. No responsibilities. An easy 9 to 5 job. Car, wife house. He has it all figured out. After 10 years in the big city losing sleep over trying hard to figure out how to fight my way upwards to "have a career" i finally decided to become greg. Abandoned management and 60 hours weeks and i sell sofas to grannys 35hrs a week in a small town. One year later i have everything i ever wanted. Car, stability, private school poney lessons for my daughter successful marriage and i' buying a house in september. Do i have enough money for my retirement ? No but i do have ressources...
I mean we gotta ask ourselves... what's the point exactly in spending our whole life trying more than hard to secure a retirement? That literally implies our lives don't begin until we retire... I'd live ok now and if I find myself on the ground at 60, then at least I had a life that wasn't entirely filled with anxiety, depression and living in the future that were even scaring me the whole time on top.
I have been retired for five years now. Although I've been adhering to the 4% rule, things are challenging as I did not anticipate. 30% of the $600K I invested in st0cks is lost to the market. How can I diversify my portfolio for retirement
Having an lnvestment advser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K so far, that made it clear there's more to the market that we avg joes don't know
I just Googled her name and her website came up right away. It looks interesting so far. I'm going to send a mail to her and let you know how it goes.Thanks for sharing truly!
The good(??) news is that if you're under 30 (and maybe a fair bit older) the spiralling welfare of people older than you who are already unable to retire will probably cause enough social unrest that there's some kind of economic realignment - whether that will pan out well overall is another matter, but i'd be seriously surprised if the current trajectory continued and things just got worse and worse for the next 35+ years.
@@chrisprice8112 you have more hope then I do. I’m 27 so I guess I’ve grown up on things just getting worse and worse and all of my faith being crushed constantly. I hope you’re right and I’m wrong. Seriously.
Convoluted and no where close to how saving and investing works. This guy is nuts. Does he think no new businesses or advancement will happen for the next generation to invest in. Read a book on how money works. Whole new tech innovation, food vehicle battery's space company's delivery systems solar, wind etc. All new and full of potential investments
@@jasonwilson4262 I agree that he's wrong but his point was that all the wealth generation over the last 200 years were dividends from the industrial revolution and that we've now squeezed all lemon out of the low hanging fruit and technological productive progress is stagnating. Most innovation now isn't about increasing productivity but about shuffling existing productivity around. Uber doesn't generate wealth it's just stealing marketshare from cabs. Self-checkout cash registers isn't automation, it's just shifting the labor from the cashier to the customer. The problem is that this is merely an (unproven) hypothesis while this video essay pretends like it's set in stone as fact. In reality there are still leaps and bounds of innovation that will actually generate wealth and productivity for society (Astroid mining, Fusion power, Superconductors, GMO agriculture, CRISPR gene editing, Personalized medicine, self-driving cars) just to name a few areas that are still promising massive increase in generating wealth for society in the future.
My retirement plan is literally just to hop from cruise ship to cruise ship. Relatively cheap, good food, better company, plenty of activities, and a decent chance of catching the next super-plague. Sounds perfect.
@@E4439Qv5 You're not "built different." You're actually pretty average in that regard. We as humans wouldn't have lasted this long if food allergies and sea sickness were prevalent.
If lacking any reason to stay landside then at least with the way things are now that's a solid option. Unless you end up needing assistance with ambulation etc. before reaching your final days
I plan to retire at the end of 2022 at 57 after 36 years in Telecom as a sales engineer. My wife will retire in October 2022 and she' s loving life! But walking away from a good income stream and building the nest egg to living from the nest egg is a scary proposition, scary to stop saving and start spending.
God places great things on the other side of fear. My advice, don't wait till the end the year. I just attended a funeral of a guy that retired in December 2020 at the age of 62 -- Life is short. Live it on your terms. Take the time to learn about passive income via dividends & real estate, index funds, automating investments, budgeting, etc. you'll be very happy you did
@@taylorcoggan2054 I’m thinking of investing into stocks esp index funds .When you invest into index funds you're essentially investing into the economy as a whole. Because you're choosing to own a little piece of all the most successful companies in the country/world but how are we going to achieve all that given that the market has being a mess most of the year?
@@richardsoncuthel810 There are lot of ways to make a killing right now, but such high-volume near impeccable trådes can only be carried out by real-time experts with ISDA Agreement . I began with " Katherine Duffy Burke ," and my gains were guaranteed. In such instances, I would always advice you get an expert to guide you through unpredictable markets and simply provide you with indicators and tactics for determining when to join and exit the market
@@willlategan7558 sure fnancial-advisors are outperforming the market and raising good returns but some are charging much, seeing that their services are currently in high demand more than ever....seems more like taxing to me
@@colbyryann2665 Yes they can be positively impactful to an individual's portfolio. Katherine strategy is transparent allowing total ownership of my tråding account and fees are very reasonable in comparison with my ROI
You know, suddenly I feel much less enthusiastic about going to work today. Edit: Shout out to all the boomers in these replies. Enjoy the fruits of my social security payments, because I sure won't be able to 🙃
@@cosmicllama6910 nothing will change, we are stuck here till the end of our live, i suspect even after death we will somehow get used by the elites either by being an organ transplant or something
I expect to work until the day I die from health problems I can't get treated because I don't qualify for any jobs that would provide health insurance. Some people might find this video depressing, but I already basically knew everything you were saying, and hearing someone say it out loud on a public platform actually gives me hope. The first step to solving a problem is recognizing it. The more people talk about stuff like this, the sooner our society will collectively think of some solutions.
Watching how the real estate market is being manipulated in favor of some persons, I’ll advise we venture into other marketing options and look for other ways to invest that will be favorable to us.
I'm glad I was introduced to forex trading and got the best teacher and mentor who helped me understand the financial market l'm grateful to Mrs Shanita 🙏🏻
Trying to crush my spirit? Jokes on you, I already expected to work until I die. Fortunately, work has been stressful enough its accelerating the process
@Nekolover It is going to be okay.Try to find a way to be happy. Try to work in a field that excites you. Upskill yourself, focus on hobbies. Your life may not matter to you but it matters to someone else in your life. Hang in there buddy
It's easy, set fire to the neighborhood you want to buy a house on, this will make the value of the houses decrease so then you can buy the house, yeah it's gonna be a little burned, but it's a small price to pay
@@uncrunch398 I mean, fair. Whether or not Nero *actually* did that stuff is anybody's guess, but his name's on the side of the chariot we associate with such behavior thousands of years later, so... History has painted him the pyromaniacal villain one way or the other.
Investing in stocks could seem easy, but choosing the right stock without a tested plan might be difficult. For the longest time, I've been attempting to grow my $210,000 portfolio, but the largest obstacle is the absence of a well-defined entrance and exit strategy. On this subject, any input would be really appreciated.
Dealing across multiple asset classes can reduce risk more effectively than putting all of your money into one. If you don't understand finances properly, see a financial consultant.
A multitude of individuals downplay the significance of advice until their own emotions become unbearable. A few summers ago, after a drawn-out divorce, I needed a big shove to stay afloat with my firm. I located the most qualified advisor after searching for licensed advisors. Despite inflation, she has helped me grow my reserve from $275k to $850k.
'Laurelyn Gross Pohlmeier' 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 quickly found her webpage by searching for her name on Google. It appears interesting thus far. I've emailed her; perhaps, she will get back to me shortly. Regards
60% of what you are saying is absolutely Brilliant 10% is neither here nor there and 30% is absolutely wrong. Overall you are getting more right than most. And I trust your take more than 'the experts'.
@@HowMoneyWorks Hey, it wasn't a party pooper; it is Reality. All we need to do is remember to downsize our expectations. Million-dollar house? I fit quite well in a small room with a few amenities. Giant refrigerator? One regular fridge for the food, a small one for the root beer (can't drink anymore). A hot blonde? Come on, guys; better to bet it on the ponies at the racetrack. A Tesla Super Muscle Machine? I'll steal my kid's bike and go downhill at 65. And IF I get to 65 myself, I'll steal my grandkid's bike and do it again! Humor is all we can take with us, friends. Better cultivate it before we're mulched.
Get a half decent job. Live like a poor student. Stay away from spending money on entertainment, toys, clothes and women. Live with multiple roommates to cut costs. Grind and push as much money as you can into Euthereum and Bitcoin. 70% Eth and 30% Bitcoin. Do this for at LEAST 5 years and you'll be set for retirement at the minimum if you don't touch your investment for at least 10 years.
I am retiring next yr at 55 with 3 houses paid off worth 4.5 million. One is my place of residence the other 2 properties will give me $80,000per/yr rent . I will have an income stream of $20,000 per yr through my super which gives me total $100,000 a yr to live comfortably . I have no debts Stay Motivated!!
That's true, Its really needful for beginners not to settle for videos alone or they will see themselves losing all their money just like me when I newly started trading with this videos here on RUclips
Most coins are going to10x this Year. The recent bitcoin correction down from its all time high has had the market and everyone is panicked in the past week , how ever not everyone has seen it as a bad Omen, the digital assets price has gone down below $25,000 causing investors to believe the bear market
My first investment with Mrs Ava Kimberly gave me a return of $20,000 after 15 days and am very happy. I feel like am the only one enjoying this profit from her lucrative trading strategies
Here's an interesting topic: I live in Ecuador, and I've met several elderly (at least 60 yrs old)people who have told me that they don't have the money to retire, but they can't find a job because no one will hire someone of their age. My theory is that with declining birth rates, there will be a labor shortage and employers won't have the choice to avoid hiring older workers, but that so far hasn't seemed to be the case.
Because a lot of jobs are bullshit jobs, like the video outlines a lot of the work to innovate and automate has already been done and it gets harder and harder to efficientize from here. To me true retirement means not depending on gov't and having the means (land, seeds and animals, tools, knowledge) or the community to sustain yourself for many years.
Elderly people tend to demand hire wages from being more skilled or experienced at their craft. Also a labor shortage is very very unlikely. Population is continuing to sky rocket in under developed countries. In developed countries millions of manual labor jobs are being completely automated at a rate much higher than the declining birth rate
From what I learned in my economics class, the working class will be unable to support the retirement of the boomers who will be retiring due to the sheer number of those who are retiring at that time, so they will have to continue to work.
@@Matt-lp2bs my Ecuadorian husband says that people don't want to hire elderly people because they're in the hospital or at doctor's appointment so often, so maybe that's a factor too.
@@lolsflint7598 they would be able to keep working if they still have a job, but if you get fired or downsized then it's nearly impossible to get a new job. Maybe it won't affect the economy as a whole as much as I thought, but if you are one of these elderly people with no savings and no job, what do you do? It's a hole that's impossible to climb out of.
What's sad is the people with abusive parents that kicked them out of the house, or were forced to leave due to the terrible environment at home. They have no chance to own a home, ever.
I have been self managing my portfolio for the past 5 years and currently with $150k asset under management I have underperformed for the past 2 years and this has got me worried. Are there anyways to turn this around as I am closing in on retirement.
Apt!! I was self managing but suffered heavy losses in 2022 and i knew i couldn't continue like that, so i consulted a fiduciary advisor. By restructuring and diversifying my $250k portfolio with dividend-paying stocks, ETFs, Mutual funds and REITs, I significantly boosted my portfolio, achieving an annualized gain of 25%.
I don't comfortably throw recommendations around on the internet, but I've been working with 'Melissa Elise Robinson'. God, she's brilliant! I'm sure there are others who are good.
That would be Melissa Elise Robinson You should look her up. I say, to be honest I almost didn't think I should have, but I'm glad I decided to let someone handle growing my finances.
About your opening statement regarding the purpose of retirement, this assumes of course that the whole point of life is to endure drudgery until we turned 60 and only then can we enjoy it. The whole point of being alive is to enjoy it and we should be living every moment like it’s our last right here and now. The more we focus on retirement as the panacea to life’s problems, we will remain trapped in a shitty appreciation of the beauty of life that’s all around us NOW.
@@lisabrightly We're dying from the moment we're born and the duration of our lifespans is uncertain. The young can die before the old and the healthy can die before the sick. All that separates us from death is one breath.
I respect your enthusiasm, but there is nothing good retiring with nothing and praying for charity. Most people will likely work till they die at the current rate we are going as a society. This is without getting into hostile governments, seizures, and censorship.
I'm 38 and tell people I'm retiring my management spot of 20 years in 5 years. I'm only 38. Had so many people tell me I'm too young to retire. I'm gonna be working at a cushion job working 4 days on and 3 days off where I can make my own schedule and still have sick pay, paid vacation and health benefits. Basically where I work is a spot for retired managers who work a couple days out of the week during the weekends and holidays and get paid more because the company wants to keep us. We volunteer to work the weekends and holidays, and because of this, our job place caters to our schedule and wants. I've gotten three raises in one year. Had my hours cut and compensated for the cut in hours with the third raise. I've been given gift cards by home office just because. Why am I retiring? Because I want my life back. Originally I didn't choose the extra hours. I was originally 40 hours but my company sold out to another that had their managers working 48+ hours weekly. Hated it, but toughed it out to pay off the house. Paid off the house in 13 years. Now there's new management in corporate that bumped us all down to 45 hours with compensation, but I still want my 40 hours back. I want my life back. House is paid off and gave my husband 5 years to milk the money cow to get other finances straightened. Replacing the 20-year-old mattresses. Replacing the 15-year-old washer/dryer set that are off balance and stopping and starting on their own, tearing out the old carpet and putting down the cheap, fake, snap-on wood. In 5 years I'll only be working for health insurance, vehicle maintenance and the rainy day fund.
Italian here. I have an house. I'll retire after around 40 years of work, or at a fixed age (don't remember which one). I have all health expenses covered by the state, and will receive a pension as well. On the other hand, I give around 1/3 of my salary to the state each month (if you factor in also indirect taxes, it's closer to 50%). I belive this is truly advantageous for me: I have no fear for my economic future
It works, for now. It has worked for at least 4 generations, we will find a way to make it work also in the future. It is a fundamental necessity for state to persist, as the job of a state is to better the lives of its citizens (I know this is different from the concept of "hands off" state of the US).
@@robertotomasini2072 I get what you mean but the questions is how are fewer people gonna support a growing retiree generation when the young people today have harder time to find work and are much fewer in numbers? Math doesnt add up and we can see it everywhere in Europe. Just look at the situation in France, Spain or even here in Sweden. Sweden has today a higher number of retiered people below poverty than in 50-60 years
@@drdavinsky So? This video is talking about averages. I have a sibling who is doing very well for himself in the tech sector. But he doesn't represent the average bear. People in non-specialized jobs are still fucked.
Last time, my father and uncle gets a simple job that can raise the entire family and most if families lived around us had at least 2 children and fully paid off our home. Now even both me and my partner worked very hard almost half of our life with now with 1 child. We still worry about our financial status such as health insurance, child’s post-secondary education and our housing loan.
Demand is greater than supply, OSB costs 3-4x more than it did a year ago. You can thank all the craziness for that, but eventually we will be producing houses like we used to... if you believe you can't, you wont. If you believe you can, you probably will.
@@user-gz4ve8mw9l I guess you don't like construction works having good pay or the factory workers that produce the nails, lumber, OSB, gusset plates, trim, carpet...
@@shantilus On the contrary I'm going into a trade skill apprenticeship this winter in just a matter of months. Yet I don't know what I'll be paid after I complete my apprenticeship. It's only $15/hr during the start of the apprenticeship. Just that $23-26/hr isn't a living wage either. I've heard people claim that the trade I'm going to be learning they make 80k/year. Yet I remain highly skeptical. I prefer hard work, so long as its hard work learning an actual skill. One that pays a living wage or higher upon successful completion of the learning process. I have a college degree, which has done nothing for me. Aside of costing me an absurd amount. I suspect I'll be ridiculed for being clueless in my early 30s as an apprentice. Yet that doesn't bother me so long as I learn after all. 28-32/hr should be minimum wage in the bulk of the USA. As that is barely on the cusp of a living wage realistically speaking. Anything above 32/hr should be considered higher than the standard basic living wage required. I've worked in logistics in lower management, worked on government projects on military installations as a subcontractor, run an entire retail stores logistics back-end, worked as an administrative exec for small businesses, worked as a pizza maker, at a pet store cleaning up after animals and insects, worked as a restock clerk, jumped out of cranes on a worksite nearly 3 stories up to meet emergency safety criteria, etc... Not once have I been paid a living wage, the closet I came to it was via government contract work. Which only lasted a mere few months per terms of the contract. Where I was paid $24.93 an hour 40/hrs a week. Which was poorly managed, and they cancelled the job 1 month early for all but management. I have NOTHING to show for all my hard work to date. Most of what I had I lost at the onset of the covid 19 pandemic. I couldn't afford basic costs of living while working any of these. Except the months as a contractor for the government as brief as they were. Even then I couldn't afford rent and everything else combined on that.
@@user-gz4ve8mw9l I don't dislike you, but that might be the dumbest cost for a house I've ever heard.... sure if we lived in 1960 that sounds reasonable for a 1400 sq ft house outside the city... a $60k house would be the equivalent of paying 5-7 guys between $125 - $200 a day to build you house... only give them 60 days to do it... oh... and that doesn't even cover any materials... my guy... use that brain and do a little math. Unless you were talking about a 300 sq ft tiny home... then we are on the same page.
Working hard and saving up for a good retirement experience when we don't even know if we'll still be here tomorrow to reap what we sow today. 🤷♂️🤦🏻♂️
Yeah. And also, even if we were to be present in the future, we aren't guaranteed to be physically fit to enjoy our retirement. This is just my opinion, but working during the best time of your life to save for the last days of it when you can't run or do so many other activities you would like to do now, and having to go to the hospital to get regular check-ups, it's pretty depressing. The sad thing is that I don't know of any other alternatives. (I know there are alternatives, just don't know how to apply them to my life).
what can I do? I have been disabled since 2009 and I am 58 years old at the verge of retirement. My portfoliio of $750k is down to $492k, How can I profit from the present market" , I mean I've heard of people making upto $250k in couple weeks during this crash and I'd like to know how.
@@geraldantonio3160 Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
@patriciamartin10 My advisor is STACIE KRISTALWEBER , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
The most important quality for an investor is temperament, not intellect… You need a temperament that neither derives great pleasure from being with the crowd or against
@@adrianamartim9978 Investing in crypto market isn't a bad idea. A few years back I felt it was impossible but here I am today all I had was God and a dedicated broker.
Actually, we are supposed to be watching more and more RUclips videos so that the content creators can keep increasing views and retire while telling us we cannot.
And useless videos like this aren't helping. It's like telling an obese person there's no point in losing weight because diets are just short term fads, many people had issues with surgeries, going to the gym costs too much money, blah blah blah. What's so helpful about a video filled with criticism instead of any solutions?
While working into old age has been discussed a lot to get the next big demographic dividend, I am noticing more and more an even more disturbing proposal: start working earlier at little or no pay. Unpaid internships was a starting point. Then, I saw a HBS professor give a lecture at Google about employing troubled high school students at a factory (and,apparently it increased graduation rates too). One more step in the same direction and we are fully talking child labor and everything it entails
Some of you really have no historical perspective, eh? This is like listening to people say "Surely, there will never be another large scale war on earth after the last one!" ...Which they've said after every major war since Napoleon attempted to conquer Europe. Children working has been the natural state of humanity for nearly it's entire existence. You've got around a century recently where children working wasn't the normal state of things, primarily in First World Countries. That's it. I agree with you that children should not HAVE to work, especially at the expense of an education or if they are subjected to hazardous conditions. But the idea that 'child labor' can be talked about as a blanket term where it's all bad is a uniquely first world 20th century viewpoint. It's wrong not only across most of history, but across most of the world today. Frankly, it's just a wrong perspective on the issue. The refusal to let kids work in the first world is not inherently more moral than the rest of the world where kids often help their parents at work after school, especially if those parents own a small business. The way you phrase things makes all child labor sound as bad as african kids mining lithium in toxic conditions. It simply isn't.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.
I don't have a full-time job; instead, I'm self-employed with a variety of sources of income. Regardless of how much money I generate each month, I maintain the same budget and adhere to my means-tested lifestyle.
Having an investment advisor is the best way to go. Based on a direct encounter with a CFP named Kate Elizabeth Amdall, I can say with certainty that their skills are excellent. She helped raise over $580,000 in 18 months from an initially stagnant portfolio of $150,000
Imagine in 2021 thinking that "You Will Never Retire" is controversial. I knew this when I was an undergrad 10 yrs ago. "You Will Retire" is the actual controversial statement.
I started saving for retirement in 2019 to retire in 2030. I already have been able to trim a year off of that. Save more, stop leasing, learn to cook.
@@lazstan As workers our biggest expenses are housing and transportation. People buy houses that are too large(or pay rent and get no equity), buy new cars, waste money on pointless degrees, and fail to invest in low cost index funds. This drives the debt, and makes retirement even harder to reach. Buy an affordable house(if you buy a large home plan for it to be a multi-generational home), get a used car, consider a skilled trade rather than a degree in BS, and buy and hold low cost index funds. Being able to retire has gotten harder, but it is still possible.
I could retire now at 48 years old if I wanted. I just wanted to see his argument. Though I admit if I retired now, I would never be able to purchase another home or buy a fancy car, and I'd have to live really frugally. But ideally I'd like to keep working so I have a higher SS check at 67 since I make much more now than I did in my 20's (I was in the military which had very low pay).
Haven't seen any hope for my future since leaving high school, now i am 26, closing in on thirty quickly and the only thing i imagine that can pull me out of my dire straits is my parents dying which is not how i want to financially recover tbh
It’s better their money goes to you vs back to the government. Best thing you can do for the next generation is pass on any wealth you’ve accumulated before dying. Yea you’re still young but I’m already 33 and it still feels like I just turned 30 last month…. Time really does speed up as you age so don’t wait around too much either.
The pandemic has shown us just how quickly decades of planning, investing and saving can be completely upended. This could mean your current financial plan might leave you without enough money to last your retirement. A recent Vanguard study found that, on average, a hypothetical $500K investment would grow to over $3.4 million under the care of an advisor over 25 years, whereas the expected value from self-management would be $1.69 million, or 50% less.
@@Tsunaniis-j5l I'm happy to have stumbled upon this discussion. If you don't mind, could you tell me the name of the financial adviser who helps you with your investments and how I might contact them? It Intrigues me to keep learning.
@@Tsunaniis-j5l Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
@@mainframe2742 that's the dirty little secret finance types don't tell you. Cost of living (roughly) doubles evey 18 years. There should never be a purely withdrawal phase in retirement. If your principal is keeping up with inflation, then your reserves are actually decreasing with time. $50k today spends like $25k in 2039.
Agree. I’m saving for my kids so that they can take that next step. I’m doing alright for myself. Parents took the first step by legally coming to the US. I’m taking the next step. Kids should be set up as the third step.
"If you still think that you're going to make millions overnight, I will have to work harder at crushing your spirit". Please, keep working at it. Bad things come from living in fantasies, and that's a fantasy that plenty people have and must be ended if we want the world to be better.
The "temporarily embarassed millionaires" (i.e. people who think they'll be rich some day, but never will) are the biggest detriment to us being able to make things better
@@rxz1 If you don't own a business or are not a professional class worker (i.e. doctor, lawyer etc) by the age of 30, you will never be wealthy 99.9% of the time. So no, it's NOT a stupid comment, actuary tables back it up
The real issue is that so many people are living above their means, or what they can afford. If you don't have good credit, no savings, no investments, and are still paying off college loans, then you should not be paying rent or a mortgage. You can't afford either yet until you improve your personal financial situation. Also, your day job should not be your only source of income. You should consider having/finding/creating multiple streams of income. What skills do you have? What are you naturally good at that can earn you more money? Rent is also a waste of money because you are only paying someone else's mortgage instead. If you lived at home with family for a couple of years, you could use the money you saved to invest in yourself and your future. Ideally, you should live at home until you either reach a certain level in your career or finances, where you can easily afford the lifestyle/future you want, or until you marry; but I don't suggest marrying too early, but later in life so that you will be mature enough to marry well.
@@tdr.220 while I don't disagree with you I will add that a vast majority of people (at least those in the country I'm from) don't have the privileges to carry out your prescription. For many people basic survival is above their means. Rent, skills, opportunities and a career are not as common place as you might think in South Africa and many other poorer countries. But that said, if you do have those privileges then I do agree with you.
I keep wondering what will happen when retirement is no longer possible for most people. How will our lives and attitudes change? Working until you’re too weak to carry on is how it’s typically imagined but what kind of jobs will be available for seniors that pay enough to afford the cost of living? Think of the compounding crises we face in environment, energy, production and pollution. With all that I can’t see there being readily available work that pays for elderly people.
Look at the "lying flat" movement in china. While it's not really a new thing but it has been coined that term recently. The idea is that you don't work hard(which only make your boss richer) in belief of a better life but rather give up on the idea and work bare minimum, prioritize self over work
There is plenty small work needed in horticulture, for example. Maybe urban farms are the answer for work for old people and making our agriculture more sustainable.
In ancient time, when you were too old to work, you were taking care of by your children. In exchange of looking at the grand-child, you were given housing and food by your children. Those who were without children ? Well...
![How We Became the Loneliest Generation [Documentary]](http://i.ytimg.com/vi/I19btmIBhx0/mqdefault.jpg)
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You didn’t talk about globalization. It was mentioned as a problem.
It would be great if you can slow down your cadence in your videos.
You have two options:
1) Slow down your delivery (you talk too fast): you are overwhelming your audience with information....
Make more videos about the same topic, like part 1 and part 2 and try to slow yourself down, OR
2) Do not do anything about it, and risk losing potential subscribers.
Also, remember you surely have an international audience of non-native english speakers... (I am one of them). I do not have time for watching the same content two or more times just because the narrator has a rush to deliver information.
Great content by the way, but... just slow it down a little, please.
Bought a flat in 95 for 20k$ its worth 560k$ now. These types of apartments were meant for people with a low income.
My goodness. Love it when affordable housing isn't affordable /s
@@HowMoneyWorks So right now i live in an area and in an apartment i would never ever be able to afford, so 95 was a good year for me to buy a place to live :)
@@mrt6349
Which leads to the problem today where many people are speculating that housing will continue to increase more in value in the future, which further drives up the unaffordability of homes which is a cycle a self fulfilling prophecy.
@@mng8680 Well it might be time we stopped living in houses/appartements for a while, at least where climate allows it.
Don't worry, when inflation hits hard that 560k will be worth nothing, and it will be affordable again.
The prospect of working 40-50 years of my life just to “retire” when I’m old has always been very depressing to me.
What’s the alternative? You’re expensive to keep alive at any age. We all are
@@mackeejack6731 every sentient being works to maintiain it’s survival. However, there are a plethora of alternatives to being employed for someone else and throwing all your savings into a retirement fund.
Yea absolutely a waste of life we were not put on earth to work for paper the old generation thought we were put here to do hard work for others and get the scraps
Me too, man. I'm trying my best to get out of this ASAP, just trying to make and leverage money as much as possible until I don't need to work. I really don't care about anything else. And trying to eat healthy so I can hopefully live in good health when I'm middle aged/old. Well fuck, I'm 36. I'm already near middle age. LOL
I'm either going to get rich or die trying, I suppose.
@@dh8148 I’m with you on that one get or die trying 💯
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.
You won't have to worry about retirement, if you don't live until the retirement age - Gen Z probably
I, a millennial, can absolutely guarantee that I won't be working in my 70's. Because I'd be lucky to make it to 60 due to a medical condition. This is the best-case scenario, at this point.
I hope I will be able to work into my 80s or 90s. I want to strengthen my Dynasty by pouring money into it.
I'm early Gen Z and my retirement plan is dying in the Climate Wars
And millenials
This only is a problem for Americans
retirement is easy is you just cut out unnecessary expenditures like food, clothing, rent, vacation, and sleep!
Yeah, I don't understand why some people waste their money on health care, raising children, and education.
Another words you cut out anything that has a price tag on it. Instead throw all your funds into investments, and savings. While dying in the gutter hopefully you don't collapse from lack of food, water, and other human needs before you accumulate enough. Oh you'll retire alright via this approach, retire into death.
You devised the same retirement plan I have imagine that.
Don't forget about the unnecessary spending on avocado toast
@@user-gz4ve8mw9l your a doomer
@@user-gz4ve8mw9l exactly the way I think like I’m not giving up I’m still trying I just see through it all currently working as a carpenter when I have an associates degree in occupational studies for studying automotive and diésel/hydraulic s I got good grades excellent attendance pretty much everything was set for me to have a job in my field but at the time I was smoking bud but only because that’s the only thing I could do besides some calisthenics in my free time I had to drive an hour and 20 mins everyday to get to school and back home so 3 hours in total but they’ll allow you to get a job if your a alcoholic and nicotine addict but god forbid I get a career in the field I studied for cause I smoke a little lettuce fucking stupid if you ask me they would rather prescribe me some kinda pills and tell me to pick up drinking instead
I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.
Rising prices have disrupted my plans to retire at 62 and work part-time while saving, causing concern about the challenges compared to those who faced the 2008 financial crisis. The stock market's volatility and a reduced income are causing anxiety about having sufficient funds for retirement.
Consider developing a diversification strategy amid the increased complexity of building a financial portfolio post-COVID. Following my colleague's advice to hire an advisor, I've gained over $310K with my coach's guidance during this market downturn, employing defensive strategies to protect and profit from the roller coaster market.
@@ThomasChai05I'm intrigued by the idea of investing with an analyst, it seems like a wise choice in today's market. Could you provide me with some guidance on how to get in touch ?
"Camille Alicia Garcia" maintains an online presence. Just make a simple search for her name online.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I'm 55 and in the IT industry. One of my big fears is losing my job before I have enough to retire. IT employers discriminate against older workers. My biggest fear is for my children though. The future doesn't look good at all.
You just got the job?
Thats why it’s important to make sure your job has union. Pretty much impossible to fire you for no good reason unless you really mess up.
My dad had a hard time finding work in electronics because of this.
He has a masters in engineering and worked on boats as chief engineer on boats for years. He had to retire early due to boat work physically breaking him and while he had money he still wanted to work for extra income just in case.
He chose a field in electronics because my dad is the 60-year-old man who can tear apart your iPhone, fix it, then give it back to you as you look up what's wrong with the engine in your vehicle while he turns around and fixes your engine.
He's that good. So that's what he was applying for.
The younger kids didn't like him being around because of how much he knew and even though he had a degree in his field, it was originally all self taught BEFORE he got the degree.
He eventually had to work online fixing phones.
@@Duran762 My Father was a unionized worker. He never missed a day on the job...never. He was able to pay for my advanced education (though I started out in a very rural wooden schoolhouse with very devoted teachers). My parents handed me the possibility of a great future and I seized the opportunity. I'm a big fan of unions.
Big companies employ forced attrition tactics to shed off older employees and once you’re layed off older employees will have a very hard time getting employment; conscious and unconscious bias and discrimination exists.
Of course you can retire. Your retirement plan just need to have enough bacon to reduce your life expectancy to under 55
Lmfao this is it
And this excludes the fact that when we get old, there is more chances of crimes being done against us because we would have either ressources to take or no ressources to fight.
I know it's a joke, but the sad thing is that people still believe that eating healthy fats clog your arteries.
@@Baker.Matthew I can recommend a vegan diet chugging seed oils with sugar, that combination will certainly kill you pretty fast, and the best part is you won't even remember your last years because of the dementia.
@@Gengh13 wait, why are seed oils bad? I know good fats are good and weight gain is all about calories and what time you eat.... but not about the dementia you mentioned
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
It's true that advisers have a function that cannot be discounted, simply ignored. During the COVID-19 pandemic in early 2020, I saw a minor decline in my portfolio worth around $300,000. This decline was likely caused by the pandemic crash, so I immediately sought advice from an adviser to prevent panic selling. Due to my proper delegation of my excesses, my account has produced large yields and leverages on a 7-figure basis as of right now.
@@PhilipDunk this is huge! mind if I look up the advisr 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
My financial advisor is “Vivian Carol Gioia” I found her on a CNBC interview where she was featured and I reached out to her afterwards via her website
Thanks a lot for this recommendation. I just looked her up, and I have sent her an email. I hope she gets back to me soon.
I'm 44. Last year, I saw a retirement advisor. He said I'm on pace to be $2,000 a month short of what I'll need to just barely survive. His advice: Just keep working.
Fuck keep on working workers need a living wage
Lol sound advice
Seems a lot. Are you in the US? ....if so...how much did your last social security statement say you'll get?
This is why I don't bother thinking about investing or pensions. The pensions I do have are losing money :-(
Fire him. 😂😂😂
My spirit was already crushed before watching this video. I was born poor, raised poor and I am still poor as a working class man. I will most likely die penniless under a bridge during a harsh winter. Wish me luck.
Good luck !
You might not get rich. But it doenst have to be that bad either.
U don't know what's in-store for u, work hard, spend less, pray and who knows,u will be lifted up from poor. Nobody's status remains the same.
😎👍
Go full on Diogenes.
I don’t agree with the quote, “All the easy innovations that drastically improve productivity have already been made.”
That reminds me of the quote from the US Patent Office Commissioner in 1899: “Everything that can be invented has already been invented.”
Look how long that lasted.
It is a theory based on the assumptions of: 1)No more major developments, and 2)A fixed and unchanging environment to develop. Both assumptions, as you point out, tend to be VERY wrong.
Yeah but now to improve requires expensive research and development that only those who are already financially secure can afford to do. Joe Sixpack isn't going to improve the way electronics function in his garage.
Yeah, this video is like saying "We've already grown all of the tomatoes. There won't be any more." Small thinking.
AI is going to stupidly increase productivity. Whole industries are going to be wiped out.
AI and blockchain will keep the pace going. Thing is they're gonna make job hunting way more difficult.
The way things are going, once i get so old no one will hire me or I can no longer physically or mentally work, my retirement plan is a nice nap on some railroad tracks.
Pay mortgage 30 years,then when you old sell the house,move to cheap country and live like a king for the rest of your life
Yeah, give some poor train conductor life long trauma. Makes sense.
@@khaliquefields4861 I don't think a dead man would care much about the world that just shafted him lol
Take yourself out in the woods
Don't harm others when that day comes, its a dick move. OR be a chad and take out some glowies with you.
Wrap the room in plastic, notify the authorities of what to expect, ID easy to find. Simple note, finally make sure you don't screw it up.
Millennials: working till they drop dead
GenZ: working even after death
EVEN IN DEATH I STILL SERVE !!!
Used to be rent till you can buy. Now it's rent till you die. Next it'll be rent your graves.
LMAO
Thanks for the business suggestion.
@@AuxenceF damn you were faster..^^ all hail the emperor!
I told my father, who worked as a lumberjack in bumfuck nowhere and wanted me to continue in his footsteps, that while I’d love to have a steady blue collar job, I know I won’t be enjoying a pension in my lifetime. Neither did he, who put in the extra hour and sweat to secure his retirement, only to keel over from a heart attack in his fifties.
Now I got a job with a liveable (though not competitive) salary, but every day that I get to clock in is a joy and puts no demands on my health. I can see myself doing this until I’m 80 and feeling great about myself. Sometimes I get fomo from not being on the hustle and grind side of life, but I think life is too precious to intentionally do something that makes you want to die.
I think that’s the key! Expectation management and finding a job you actually enjoy doing. Retirement it great, but most everyone I know who are retired still do some form of work out of pure boredom.
Same, that is why i became a hooker
What kind of job do you do? It honestly sounds nice
@@Hubcool367 I teach (humanities, mostly). I can spend all day doing it and I feel lucky that I get paid for it, too.
@@olindblo thanks, that sounds nice !
I've been diligently working, saving, and investing towards financial freedom and early retirement. However, the economy's downturn since the pandemic has significantly eroded my portfolio. My question now is: Should I continue contributing to my portfolio in these unstable markets, or should I explore alternative sectors?
I'll tell you that it's practically hard to rebuild your retirement on your own, without a partner's assistance. Not even NewRetirement and associates can match the skills, experience, and broad clientele of a professional financial advisor. Assess and select one, and then use a financial advisor to help you allocate your funds.
As a contractor, my job leaves me little time to thoroughly analyze my investments or evaluate stocks myself. Therefore, for the past seven years, I've entrusted a fiduciary to actively manage and adjust my portfolio to align with current market conditions. This approach has helped me navigate the ups and downs, knowing when to buy and sell. Perhaps you should consider a similar strategy.
Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch if you don't mind
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
Invest in solid gold and Indian equity
The Asian retirement plan is to 1: have a kid, 2: quit job to watch your grandchildren.
I was (sorta) raised this way by my grandparents on the Chinese side of my family
It actually works pretty well and helped me have a great relationship with them when they were still alive. Multi generational households are awesome (when done out of desire and not economic necessity, anyway!)
Yeah, but it breeds resentment toward our parents...
And how's that working out for them?
I guess in the end we learn that Usury is in fact bad and no way to run a society
Usually you have 2 or 3 kids. This way your retirement is not a burden on one family but 3 families. This way it is shared. This is one of the reasons Chinese families will face a lot of issues in the future.
an added benefit of people needing to work into old age is that they take up room on the corporate ladder further holding back younger generations from retirement.
♫♫ IT'S THE CIRCLE OF LLIIIFFEEE♫♫
This is why agism is based
so what you're saying is we're screwed? and will be forced to live in a dystopia just like the book Orwell made?
Thanks, I hate it
@young98 Or buying some plot of land and wait for your beans to ripen while reading « _The limits of Growth_ » by Donella Meadows / Randers / Dennis Meadows
@@vankram1552 No.
Retirees facing difficulty in meeting their basic needs are often those who couldn't amass sufficient funds during their working years. Various factors contribute to the outcomes of retirement decisions. For instance, my wife and I both served the same number of years in government service, yet we took different investment paths-she opted for a wealth manager, while I chose a 401(k). Despite our retirement, both of us continue to engage in work.
Stacey appears to be really knowledgeable. Her resume, educational history, and qualifications were all quite good when I found her internet page. She will act in my best interests because she is a fiduciary. I thus scheduled a session with her.
Again one more paid promotion
You type like ChatGPT
People forget that retirement used to never be a thing and multi-generational homes were the norm. What actually changed that? 2 world wars in a 20 yr span.
Ah yes... Wealth extraction of foreign lands under 'Dollar Imperialism' of the 20th century giving rise to a cushy 'middle' class sitting on unprecedented piles of wealth. Sponsored by the company that oversees/manages all Western-allied banking systems, The Fed™
The real issue is that so many people are living above their means, or what they can afford. If you don't have good credit, no savings, no investments, and are still paying off college loans, then you should not be paying rent or a mortgage. You can't afford either yet until you improve your personal financial situation. Also, your day job should not be your only source of income. You should consider having/finding/creating multiple streams of income. What skills do you have? What are you naturally good at that can earn you more money? Rent is also a waste of money because you are only paying someone else's mortgage instead. If you lived at home with family for a couple of years, you could use the money you saved to invest in yourself and your future. Ideally, you should live at home until you either reach a certain level in your career or finances, where you can easily afford the lifestyle/future you want, or until you marry; but I don't suggest marrying too early, but later in life so that you will be mature enough to marry well.
@@tdr.220 This reads like one of those get rich quick RUclips ads. "Invest in yourself." "Have multiple streams of income." "Find something that you're good at and inves in that." "Don't ever rent." These are all catchphrases and generally useless advice. Investing in yourself means nothing. The thing that you're good at may not make any money. If having multiple streams of income was easy, everyone would do it. Same for owning a house.
@@LordofTheFallen Maybe thats why he said "What are you naturally good at that can earn you more money?" not "What are you naturally good at? Use that to make you more money". But facts though, just because these advice were given by get rich quick RUclips ads, doesn't mean they aren't true. I've been saving and living WELL under my means, and I now able to own a 900k family home, with savings to spare, while I drive a beater. The home is my first step into property investing as well, I plan to rent it out to generate income because I'm not married yet and have no problems living with my parents. I'm 29.
@@msiankid So you just started getting into real estate, and you already fully own a $900k home, plus savings to spare, and you're sitting on this house without actually having done anything with it? At 29?
You'd need to save, not make, *save* over $100k a year to pull this off at your age. Somehow I doubt that your success was due to you driving a beater. If this is even true, you're so far above the average person financially that no one is going to be able to follow in your footsteps. If I was making over $100k a year in my twenties I also wouldn't have any issues with money.
Ah, another episode of “your life is fucked so don’t even bother”
He kind of just sounds like a pessimistic nay sayer. Probably best not to listen to every single thing he says.
@@Ota_ku69 Better to be a pessimist than an optimist. Atleast the former prepares for the worst.
@@deussivenatura5805 preparing for the worst is often a self fulfilling prophecy
Pessimists believe in a better world, optimists think it’s already here.
@@LenaLangton that makes no sense.
Pretty bold statement to say that we're running out of possible technological advancements - there's a bet that has never paid off
I think the key point or difference is that the true and big innovations are happening at the already big companies and are actually concentrating wealth more and more.
Developments that are about to be created like AI have a very high probability of being "winner takes most". Meaning very few people will be on the receiving end of the benefits this new technology will bring.
The point is that exponential growth is now coming up against hard physical limits. For example from walking to the development of modern day jets cargo moves 100x (6mph-600mph) faster which creates jobs as well as furthering the economy. There isn't a another 100x jump because a plane that does 60000mph is uselessly fast.
Now while there are developments they are unlikely to create more jobs because similar limits are now reached in human brain capacity, so yeah there will be innovation in ai, robots etc that will be greater than the leap between speech and modern life however I think what hmw is saying is that those innovations don't drive the economy/ quality of life for regular people on the way that the invention of planes did.
@@JimmyA459 You are missing the mark, that is like someone in the 1700's saying the only way possible to reach maximum velocity is to breed a horse to go faster. Nobody knows what the tech of the future will be, there are even realms of physics that scientists don't even understand yet... Technological efficiency/progress continues to speed up as more things become automated and efficient, freeing up more minds to come up with even more solutions to problems. Humans *will* continue to improve efficiency in creative ways that no single person could possibly fathom.
@@snakezula yeah like I said in my comment the advent of agi will be greater than the leap between the first spoken word and modern day technology. Clearly extreme and widespread innovation is inevitable but they key difference is it won't drive the economy in the same way.
Invention of the train needs more coal miners, more steel miners, engineers, ticket salesment etc etc
Invention of agi needs a select group of programmers and a small number of support staff. Once you have that technology the number of jobs that a human mind can do is massively reduced.
@@snakezula To the part about thinking in velocity etc being wrong, this isn't the realm of inventions/ engineering we are coming up against the hard physical limits of our reality.
There is another scenario in US. You working... You saving money... You doing well...and then you getting sick and loosing everything on medical bills.
*losing
Nah most people have good enough insurance. Obama care is actually pretty good.
Tex-advantaged retirement funds are exempt from personal bankruptcy. The only way you're going to lose them to medical bills is if YOU decide to tap into them for experiment treatment.
@@zzzyyyxxxNo it’s not. I’m a contract engineer, but their insurance sucks. I’m at $104k and a single surgery could take everything
Most people saying the insurance isn't enough have no idea how it works. Once you hit your deductible for the year, you no longer are paying out of pocket.
If paying the deductible of $8000 is impossible, you need to save more money.
Grandparent: when I was your age, I was working.
Grandkids: when I am going to be your age, I will still be working.
Oh my god. Oh my fucking god. This hit me so hard. Haha , thank you.
😂👌👌👌
the bitter truth is, we still be working to pay our debts... 😵💫
Fact
OOF That hurt
Because it's so true.
I cringed every time one of those woodworking stock clips came up; every single one had some degree of unsafe behavior.
- Blade depth maxed out -- you should only have blade depth set to clear your cut.
- Missing guards -- What idiot would run their jointer without the guard, or their tablesaw without at least the riving knife -- maybe that's a zero-clearance insert I see, but why would you be ripping down lumber with a ZC insert? The miter saw literally has the guard disabled...
- Total lack of push sticks/blocks -- Again, jointer without push blocks? Tablesaw without a push stick in sight?
Perhaps they are novices learning without assistance...
This is like those stock photos of people holding the soldering iron on the hot part.
These clips are stock footage he gets somewhere. Their purpose is not to represent perfectly what they are showing, but rather convey the idea. Seeing the sawmill spin while cutting the wood conveys the idea better than a perfect length blade that doesn't show on the surface.
Stock footage of what NOT to do
Damn, this guy knows what he is talking about.
I am 100% sure I will become a milionaire...I just need to wait a few years till inflation hits big time and bread costs a million dollars :P
Aw you speak of the Zimbabwe way.
@@skyranger1366
And the American way if we let Biden stay in office.
@@matthew8153 Well considering the guy is willing to rig elections it would be impossible to remove him short of a coup
@@skyranger1366 Trump wasn't doing much differently despite what his media is going to keep saying. The two party split is a lie, they're all on the same team.
@@dadbodenvy4247 Unfortunately you are mostly correct. Trump slowed down the corruption but slowing down isn't the same as stopping.
My wife and I did very well in the amount of money that we amassed for retirement. Well over 80% of that money averaging about $2 million was made because of taking advantage of buying high-end stocks at a deep discount during the Great Recession. 2009 I fired the stockbroker got rid of all mutual funds and bought individual dividend stocks. Be patient don't get scared and do your homework and you can make a killing.
Well, the top players and pros have exclusive information and data paths that are not disclosed to the public. Knowing the strategies to use during this time is one thing and having the right information to execute them successfully is another.
@@alexyoung3126 I agree. Based on firsthand encounter with a fiduciary counselor *Ingrid Cecilia Raad* , i have $385k in a well diversified portfolio which has grown by 3x with compounding, venturing doesn’t necessarily boil down to money but you also have to be informed, be patient and back it up with good hands
@@joesphcu8975 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.
@@lawerencemiller9720 You can easily look her up not he web, she has years of financial market experience.
@@joesphcu8975 Awesome! your potential seems limitless. I'm fascinated with investing, I’m delighted to engage in this opportunity, I just found the professional’s web page and have already written her
The depressing part is by the time you're "retirement" age you really can't enjoy yourself. I don't see many 70 year olds playing hockey, water skiing, etc. That's why I think it's important to rub elbows with people that are financially comfortable & enjoy the luxuries as early as you can.
Umm, No! You build income streams outside of your job so you can have additional income to invest and live on. Too bad no one believes in themselves enough to do this because it works. You can retire early if you have enough cashflow monthly coming in.....work on that vs thinking you have to buy stupid shit early on in life to enjoy it.
Then if you don't have kids for them to inherit the money, then most of it goes to your grave or back to the government.
If you have to wait till your 70 to retire that’s your call ,the decisions you make will determine what day it is .
Best to retire at fifty.
It's called being old. You don't have the same desires anymore. My parents are wealthy. Healthy and energetic. Yet they prefer staying home in there routine...
I think one thing not mentioned in this video is that for every year above 60 there is an rapidly increasing chance that you may either not be able to work in a job that pays anything like as much as when they were younger, or you may not be able to work at all. This is compounded by the fact that forms of worker insurance (tpd income protection) get extremely expensive in those years too. Although medical care has improved, it has become expensive and there are no cures for many of the ageing diseases or conditions such as dementia, skeletal damage and cognitive decline.
Yup.
I liked your comment, but you could clearly stand to learn about nutrition. Dementia/Alzheimers/cognitive decline is being shown rather consistently in current research to be Type III diabetes, and if you ignore the propaganda put out by the pharmaceutical companies and those in bed with them, you’d know that diabetes can, in most people, be completely reversed by cessation of the consumption of carbohydrates and plant oils.
You don’t have to believe me, but keep an eye on the people in your life that eat the most plants and plant oils. Rail thin or marshmallow man fat, weak, and cognitively impaired. Maybe look into the concept of “The Randle Cycle” (aka the Glucose-Fatty Acid Cycle). Maybe look into consumption of plants and bone density (more plants, weaker bones).
And then there’s the linkage between gluten consumption and mental instability.
Pizza party anyone??!!
Fasting is the best thing for dementia and cognitive decline. This will be more widely known in the next 20 years or so as they do more and more studies on fasting.
What I've learned is this guy doesn't know the difference between a lumberjack and a carpenter.
This is also the same guy who said in the intro something to the effect of “people with diligent savings plans....”
And then showed a news article in the next slide that said “I HAVE NO RETIREMENT SAVINGS”. Not sure attention to detail is this guys strong suit. Certainly won’t be entertaining his financial outlook with much more than feigned interest.
The person who is speaking is probably not the same person who is choosing the stock footage. Neither are likely to be the person who is actually writing the script.
There are going to be discrepencies.
@@dismayedtrinket2518 yes but, he always dismisses super demanding jobs, like trades --> plumber, electrician, carpenter etc.. those jobs pay way more than any desk job.
Because supply and demand.
@@cautarepvp2079 He uses them as a metaphor, not literally. It's quite a bit easier to imagine the work of a plumber as a blue collar worker than to imagine what some sort IT consultant or whatever does.
ruclips.net/video/FshU58nI0Ts/видео.html
According to the New York Times, the average savings of a couple reaching retirement is $110k I’m closing in on my retirement and I’m under pressure to grow my reserve of $330k, despite the fact the capital gains you can make on growth stocks far outweigh dividend yields, and even in downtrends folks still pull off 6-7figures gains in months. surely the risk is much greater, but I’d love to know how.
I feel your pain, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $130k in passive diversified safe-haven assets, Up 200k so far and pretty sure I'm ready for whatever comes.
I would not mind looking up the professional That helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Lisa Ann Moberly 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.
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.
Scam
There’s always someone claiming innovation is coming to an end, and we always innovate right past them. Living in fear and staying out of the market certainly isn’t going to get you anywhere.
If you have read the book rich dad poor dad...the person who made this video is a fucking chicken 😂
@@aaminsaan4978 that book is like junk food for the mind. I'm not saying first comment isn't true still. But you can find better mentors with more realistic approaches to money and finances
You poor souls. Do you know the single statement that describes reality ? " This to shall pass" Our finite resources are our doom. We should reach for the stars . But we might be to late .
@@alecoloxa like who?
@@remusionutotelita1559 Well, we could make a whole new business out of recycling. How much money would we make of recycling every recource we have on this planet? - A lot.
“All the easy innovations that drastically improve productivity have already been made.”
as an engineer I can assure you there is WAY MORE left to be invented than what we already have - especially if you leave out the “easy”
What are those?
The easy part is key I think. There's a lot more to discover, but it gets harder and harder, building on top of what came before. Which means it's more likely to be created by a large, already well-funded group, which means the benefits disproportionately accrue to those who were already well invested, not people trying to get their foot in the door.
I agree we still have plenty we can create. The issue is that people who can make these things aren't getting the funding that they need and the people who have the funding from their own inventions/creations/investments are so set for life they no longer really try to innovate. The issue is stifled innovation from growing inequality issues.
That's his entire point. Easy innovations are cost-effective innovations. Much of the innovation going forward is REALLY expensive. We've completed the low-hanging fruit, especially when it comes to automation. Those are the innovations that saw 100%-500% increases in productivity for a relatively low cost. Now we have this 10% remaining where you might get a 10% increase in productivity, but it's going to cost you 10x more than the first 100%.
It's not an issue of funding, it's an issue of value-proposition. It's only going to get LOWER over time, since automation is the end game.
Hello Anna, how are you doing?
People do not realize that working past 60 is extremely difficult for any physical type work. Mental work,, not as bad, but still a problem. Another thing people do not consider is that the current births per woman is now at around 1.7 per. Meaning we are now at a negative population growth.
All of the so called "economic theories" taught for the last 100 years is quickly out dated.
Global population is still rising, for now. Fertility rate around 2.4. It varies greatly though, and many countries are well in to the negative now and depend largely on immigration to continue the all-important growth. US, for example, 1.6 - but still has an annual 0.5% population growth.
Immigration has down sides though. Not least of which is that the existing population is often intensely hostile to the idea, distrustful of outsiders and disliking the cultural changes that come with mass immigration. You can see that in the way many politicians have succeeded by appealing to anti-immigration sentiment.
Very true!
Population reduction is not a bad thing in some parts of the world, but from what I am seeing the entire western "1st world" is about to hit steep population decline. I won't bother going into why since entire books have been written on the subject and few seem to agree on the main cause. A gradual decline would be manageable but the numbers in some nations are below 1 child per. The disruptions caused by this are difficult to predict, but there certainly won't be enough caretakers for the elderly for one and if automation hasn't caught up enough there won't be enough workers in general to maintain those civilizations. Immigration is not a solution either, since most immigrants lack the wealth, education, skills, or motivation to maintain the civilization. Perhaps immigration is the only stopgap measure before full automation though?
@@Ziegfried82 Immigration is only going to push back the issue in time, as they will import their entire family, which will need even more immigration to take care of when they are old. That is assuming the immigrants actually pull their weight, which in the vast majority of the cases they are not (due to various reasons like not mastering the language, lack of education, etc).
@Danny DNA poor farmers that grow your food are slow?
My $2m retirement account has gone up only by 2% in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate peace? I don’t want to fail after 22 years of working hard.
Do you plan on retiring before 59?
That is what determines it for me. I switched to cash flowing assets because I wanted to retire early
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
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.
*Sharon Lynne Hart* is the licensed advisor I use. Just search the name. You’d find her webpage and necessary details to work with to set up an appointment.
Retirement is a fairly recent phenomenon (within the last hundred years) and is a function of significant wealth and prosperity. Multi-generational households are incredibly common historically. I agree our expectations need to change. Our generation is not our fathers, and our struggles will be new and unique.
That's a very good point
You are correct.
Our generation have different timeline to deal with.
If our generation will have more people reaching 90, then these seniors have a different situation compared to our grandparents.
If I will be forced to retire by age of 65 and live until 90, what will I do for the 35 yrs, if I am not allowed to work anymore?
Scary thought if you ask me.
@@dianaverano7878 You could for example learn basic arithmetic (sorry, I couldn't resist).
@@lukasprazak7362 whatever
Yes, but we are paying abusive taxes for services, retirement of the baby boomers that we are not going to enjoy. That's totally unfair. This is not about rich vs poor, but an abusive older generation vs younger people.
Really enjoyed this video. I'm considering your advice, because thousands of dollars have been disappearing from my 401k due to soaring inflation, and my concern is where to safeguard and grow remaining cash about $500k+ for the next 2-3 years at no risk. I'd love to retire early and afford a life after retirement.
I may be unable to offer personalized investment guidance, but then I suggest consulting with a reliable advisor to ensure appropriate investment planning.
Agreed, I’ve been investing in the stock market for 11 years now, last 5 years with the help of a financial planner apparently due to the covid-19 pandemic crash. Throughout these years of guidance alone, I've been fortunate enough to 10x my return as a DIY investor, summing up nearly $1m roi as of today.
Could you be kind enough with details of your advsor please?
My licensed adviser of choice is Rebecca Nassar Dunne. Just look up the name. In order to schedule an appointment, you would find the required information. She is quite talented.
Thanks for sharing, i did a quick search and found her web page, i hope she responds to my mail soon
So what you're telling me is I need to stop eating avocados on toast and buy a house instead?
No what we're saying is you could put 100% of your income aside to save for a home and still never buy one.
Enjoy your avocado while you still can, and retire with a 12 gauge.
yes after 2-5 years of no avocado you can get house and reproduce more humans with the saved up money
@young98
Faced with an unattainable goal makes a few hundreds or thousand dollars meaningless, might as well risk it. Not like you'll get a house or land with your current income.
Enjoy your toast, because when your 60 plus, and cannot afford to retire, but your health is crap, and facing eviction and living in the street. The only retirement plan in America will be to rob a bank, go to jail, where you will receive food, healthcare, and shelter.
Prison will be the future retirement home of elderly Americans.
@@erich6860 You have a wild imagination, friend.
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.
45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.
Your adviser must be really good, I hope it's okay to inquire if you're still collaborating with the same adviser and how I can get in touch with them?
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 ‘’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.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
“Owning a house means you don’t have rental expenses…” That might have been true for our grandparents, but at $10K/yr for taxes and insurance, you never own your home and those costs will go up every year.
Not everywhere in the US has outrageous house prices, taxes and insurance. Problem is not everybody is willing to move to where it is still affordable.
See the rental costs in comparison, then rethink your statement
10k a year is a godsend my man. Thats less then 1k a month. Easily affordable.
Yep. And don't forget taxes
Redistribute wealth!
Step 1: Buy a piece of land, build a tiny house.
Step 2: Stonks.
In several cases it may be better to rent actually
@@FFAs
Depends on how long you want to stay in the place.
@@matthew8153 it is more than that if you rent and skip to step 2. Owner has more costs of maintenance than calculators take into account, renters can invest the saved money...
...and the second that a mortgage is paid off, the owner loses the advantages of that debt over the renter that already accumulated capital that is likely set to grow faster than the owner can invest.
@@FFAs
You say that but all the people I know renting had their rents go up 30% this year while I refinanced my house and will have the mortgage paid off faster.
For me it's
Step 1: Crypto.
Step 2: More crypto.
Step 3: Tiny house.
Step 4: Yet more crypto.
Step 5: Crypto still.
Step 6: Mega compound with underground bunkers, greenhouses, and workshops.
Step 7: Retire.
As someone who works in the restaurant/hospitality industry in my 30s. I've fully accepted that I will not be retiring at the standard age, I'm probably going to work forever especially if I open my own restaurant and I think that's pretty noble. Mind you as I get older I definitely won't be doing the heavy lifting but I will still be at work and managing the daily grind of the business. This is all assuming I stay in good health for my whole life, wish me luck!
Make that money bro!
For your trade, owning that restaurant is your retirement plan. All multi billion food chains started from a single restaurant too...
If you get lucky enough, you may become profitable enough to sell your business.
Good luck pal. All I could grasp from this video is that the presenter is so near-sighted that shows they never had real life experience of career pathing and career progression. I hope you can expand and grow your business to the point of you only doing the management and then have the safety to leave to the next generation while you retire from their work based on the foundation you have built. It'll be much harder to retire in the future but don't let these doomsday predictions get to you.
The most physically healthy elderly people are often those who work.. people wither away quite quickly after retirement.
Working does wonders for your mental health in comparison to being unemployed or retired, also. Not contributing to society is detrimental to mental health
As a person in my early 20s, the lack of indefinite growth has always worried me. It's not guaranteed that my retirement account will grow steadily at 6-10% over the next few decades. That's why I'm conflicted about putting money in my 401K at all. I'll have to do some calculations, but I think I might be better off investing in real estate in a cheaper country and moving out of the US when I retire.
Diversify. Do 401k, gain equity through real estate with the ultimate goal of being mortgage free and have at least 6 months of expenses in a high yield savings acct. Depending on your income it may take a while but you gotta spread things out. No one knows the future.
" real estate in a cheaper country "
sounds like a minefield
Gotta pick the right country AND the right real estate. And just because a property might cost less, you are probably NOT going to get a Picasso doug out of its walls. The same market forces apply. #3 should be #1. GenZ has got to solve the wealth division problem or they're toast.
@@bipl8989 "Gotta pick the right country AND the right real estate."
Any examples? I know I'd be toasted if I buy a property in places in Bangkok
@@lepetitchat123 it is a very personal decision as to where to buy. Many variables to consider. Many details to think about. You must think about all the things that you think are important. I can only answer for myself. I have lived more than 2 years in each of 9 countries some much longer. One piece of advice that is valid anywhere is ... get a local lawyer to review any transaction BEFORE you sign, or write a cheque.
I think my only option is to move to Portland and live in a tent. Freedom's just another word for nothing left to lose.
Get an RV.
@@adamtedder1012 Good choice. Mobile hub center, potential wifi zone, cooking and proper toiletries, modifiable overall.
@@adamtedder1012 With what money? If he had money he wouldn't be thinking about living in a tent.
bicycle camper rv with solar panel and wood stove cooker... lots of hunter gathering knowledge.. or knowledge in general. That's how we will live.
@@naikjoy if it gets that bad- most of the game will be killed off fast pigeon and squirrels will go first, then the duck ponds will be wiped out streams over fished, ect
There is always the Lottery. That is what keeps the Dream alive!
Actually, I think that is why there is a State lottery, to keep the poor masses hoping...
My plan is to find a suitcase of cash under a bench...
Yeah but there are people that win multiple times in lotteries by buying a ton of tickets. Some have just won repeatedly by coincidence? Either it was rigged or luck? What if I pose a third option, ex government work. Stuff that can't be acknowledged on the books because it's spy craft or special ops. But they obviously need to retire. A bit less hopeful for the poor masses now.
The lottery is a tax on those people bad at math.
@@orionthehunter217 it doesn't rule out that some winners are ex government, but I'll consider this possibility as a way of having more potential in their reserves. I'm sure they don't all agree, or even get such visits most of the time.
COPEEING
I’d be retiring or working less in 10 years, and considering this financial recession, I’m curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $250K per year but nothing to show for it yet.
Do you have a 401k? you should contribute to your retirement diligently, or better still look into financial planning
Very true, I find myself lucky enough exposed to money management at an early age. Worked full time when I was 19, purchased first home at 28, fast forward time... I'm 50 now, got laid off March 2020 amidst lockdown, a blessing in disguise. At once, I consulted an advisor to stay afloat and with subsequent investments, I'm only 15% short of $1m as of today.
This is insightful, I have seen a lot about FAs and actually want to consult some pro.
Her name is “Sharon Lee Peoples” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thanks for the share! copied and pasted full name on my browser, effortlessly found her site, very professional. I got some feedback hope to speak on the phone soon.
Retirement is now more difficult than it was in the past. I've been saving for a long time instead of investing, and right now I only have about $400K. considering all the inflation, i'm thinking of investing in stocks, i dont just have idea on market strategies.
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.
Having an investment advisor is the best way to go about the stock market right now. I was going solo, 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.
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.
I looked up her full name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip.
27 years old and struggling to pay rent on $28k a year. Cost of living is getting crazy.
I bought a house with that income. You’re living in the wrong place.
@@matthew8153 agreed
@@matthew8153 More like the wrong time.
Your are 27 years old only making 28k a year, you are clearly doing something wrong. I'm 21 making way more than that
So crazy. If it wasn't for the Lord, I would be homeless.
Already knew this. If you’re paying attention at all to events, both locally and geopolitically, you know, without understanding all of the elements, that we will retire when we are dead. Good to see someone being honest about it.
There was even an Ad not too long ago for boots that said "You'll never retire, your boots shouldn't either." They treat us like dirt and condescend to us about it in advertising.
Already knew it before while I was in HIGH SCHOOL and that was in the late 90s/early 2000s...
Unless you buy assets.
yeah well said. these facts are pounded into my subconscious already, but its good to understand them consciously and try to find an in i suppose
@Danny DNA HOW TF am I being prejudiced?
I saw that AD YEARS ago, and very briefly as I was walking thru a store. The sentiment of the ad was bad enough it stayed with me forever.
Forgive me for not having perfect photographic memory.
I will remember to start a filing cabinet for my fight against Tyranny.
Inflation is higher than any saving account will gain. You are essentially losing money by saving. It’s insane.
@whiteboardfinance always says “savers are losers”
That was what I was told by a lot of people in 2007, as I usually put a large portion into FDs/CDs than stocks. Then 2008 happened, and those 'investment gurus' were burned. Income slowed to a trickle/got laid off, credit maxed, and they had to sell off their now-below-purchase-value stocks for liquid cash.
Same thing in 2020 for those who bought into investment-property condos in my city. Rents have dropped, vacancies are up, and folks are trying to offload their investment properties because there's no more rental money to repay the mortgages they took up.
Correct Zedarina - you have to be an active participant in your wealth generation. Savings accounts are not the answer, you can either trust a money manager in a medium-risk fund, or be diligent in learning about the stock market and market fluctuations and do the work yourself. Perhaps this is a poor analogy: you wouldn't let your child figure out "growing up" on their own. You would guide them, offer suggestions, tutor, and learn the skills required to get them a good start into adulthood. It's the same with your money.
It use to not be that way. When I was a kid(40 years ago) banks paid 5 to 6 percent on savings accounts. I even say an old photo of a bank advertising 4 percent interest on savings accounts in 1929. Banks borrow money from the FED at 05 percent, loan it to consumers at 3 percent and pay savers o percent.
And yet if one doesn't save to build up an emergency stash of cash , how does one weather a period of no income as a result of job loss or stock/ assets depreciation? The Covid pandemic lays bare the precarity of not having any savings.
Giving up your whole life to focus on retirement is depressing. Society makes it sound like you will be free on fun vacations, but reality is medical community is there like vultures to take everything you earned in life, and then some. Live now, because when you are old, you might be better off dead.
If you even make it to retire. Lots of people die before that.
Yeah. Nobody I know who is 70 is living it up. I'd rather be dead, than most of them.
I just got a job in the ironworkers union. I am lucky enough to get a pension when I retire in 30 or so years. I am terrified tho, that the market will crash and burn before that time comes, and I'll lose that pension. Thats what happened to my mothers pension (United flight attendants union) and several other relatives. Its amazing you can be forced to pay into something that is almost definetly not going to be there when YOU actually need it(pension, social security etc).
I'm just paying for the boomers to have a cushy life rn, even tho they're the ones who set up that broken system.
Exactly but when you say something remotely like this to a boomer they say they did this for us 😒
The market will crash long before that. Don’t worry.
I think that's done by power and money. I don't think ordinary Joes and Janes have anything to do with it. If you think they've done it, then you can undo it. Or nah?
I told my parents that a pension doesn't motivate me to work somewhere. I've honestly never even stayed at a company for 5 years.
The boomers voted people in who took care of what they wanted. Take social security from working people and not care what happens to the payers when they get old
just like he said.. there are forces trying to keep you working forever and he is right
This is so true. I don't think I'll ever have enough to fully retire. My retirement age has been moved to 70, not 65. I strongly doubt social security will be there so I'll need to be saving more and more to simply make ends meet. The future is bleak. For millennials and gen Z things will be even worse.
@Anthony Mercado I got 2k in my bank and 3k in 401k and im 30 lol
@@jasongodek9828 You sound like a younger version of me. Keep it up. You've got the right mindset.
@@jasongodek9828 By the way, don't feel bad that you bought a new car. If you intend to keep the car till the wheels fall off, it was a good "investment" to buy new. You have total control over maintenance from the beginning. Yes, buying used would have a smaller upfront cost, but it would push forward the timeline for expensive repairs. I got a new car when I got my job after graduating from college, and I'm still driving it. I'm 37 years old by the way, and yes, I still own my first ever car. Over the long term, the cost difference between new and used would have made no difference.
Retire in a country with a low standard of living 👍
@Anthony Mercado buy real estate
Recently retired and unsure if my 401(k) and IRA will provide a stable future. i need an approach that will align with my risk tolerance and financial goals, i set aside $1m to achieve this. Do you suggest i get into stocks or buy a rental property?
Look up dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, its advisable you work with a financial advisor to help set up a well-structured portfolio.
I agree. Based on personal experience working with a financial advisor, I currently have $2 million in a well-diversified portfolio that has experienced exponential growth from when i started. It's not only about having money to invest, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
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.
I work with Sharon Lee Peoples as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
everyone else: 401 ks
Me and other millenials: Charizards
I prefer cryptocurrency. I have a Charizard card, and some others buried in storage somewhere from the 1990s. The fact people pay anything for these is sheer lunacy.
Not really its like baseball cardsand boomers, moms threw them out so they are now valuable. Its this same principle really history repeating itself with acceptance of nerd culture ala big bang theory
As a soon retiree, keeping my 401k on course after a rocky 2022 is top priority. I have been reading of lnvestors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated.
The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.
Having an lnvestment advser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K so far, that made it clear there's more to the market that we avg joes don't know
I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
Her name is “Vivian Carol Gioia” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
I just Googled her name and her website came up right away. It looks interesting so far. I'm going to send a mail to her and let you know how it goes.Thanks for sharing truly!
At my first job there was a guy named greg. One day my commercial manager told me: look at greg. He has everything figured out. No responsibilities. An easy 9 to 5 job. Car, wife house. He has it all figured out.
After 10 years in the big city losing sleep over trying hard to figure out how to fight my way upwards to "have a career" i finally decided to become greg.
Abandoned management and 60 hours weeks and i sell sofas to grannys 35hrs a week in a small town.
One year later i have everything i ever wanted.
Car, stability, private school poney lessons for my daughter successful marriage and i' buying a house in september.
Do i have enough money for my retirement ? No but i do have ressources...
Greg sounds like a threat.... we must plot against him before he becomes too powerful
It's a nice start at least, that's what's important
I mean we gotta ask ourselves... what's the point exactly in spending our whole life trying more than hard to secure a retirement? That literally implies our lives don't begin until we retire... I'd live ok now and if I find myself on the ground at 60, then at least I had a life that wasn't entirely filled with anxiety, depression and living in the future that were even scaring me the whole time on top.
I'm 40, and definitely learning this.... thanks for your comment. To learn how to be content with not being mr upwardly mobile all the time.
Selling sofas to grannies is my goal 🥸
I have been retired for five years now. Although I've been adhering to the 4% rule, things are challenging as I did not anticipate. 30% of the $600K I invested in st0cks is lost to the market. How can I diversify my portfolio for retirement
it's wise to redistribute your capital to mitigate risks during market fluctuations. Consulting a financial advisor can help simplify this process.
Having an lnvestment advser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K so far, that made it clear there's more to the market that we avg joes don't know
I appreciate your nice words and would like to get in touch with your account management consultant.
Her name is “VIVIAN CAROL GIOIA” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
I just Googled her name and her website came up right away. It looks interesting so far. I'm going to send a mail to her and let you know how it goes.Thanks for sharing truly!
It's unsettling how often I think about my retirement options and it's suicide.
The good(??) news is that if you're under 30 (and maybe a fair bit older) the spiralling welfare of people older than you who are already unable to retire will probably cause enough social unrest that there's some kind of economic realignment - whether that will pan out well overall is another matter, but i'd be seriously surprised if the current trajectory continued and things just got worse and worse for the next 35+ years.
@@chrisprice8112 you have an awe inspiring amount of hope, I wish I was this optimistic, but I hope you are right!
No kidding. I'm not planning on living past 60. That way when I kill myself, I'll at least die on a mattress.
@@chrisprice8112 you have more hope then I do. I’m 27 so I guess I’ve grown up on things just getting worse and worse and all of my faith being crushed constantly. I hope you’re right and I’m wrong. Seriously.
Don't kill yourself dude it's not worth it
Your lumberjack analogy was horribly convoluted
seconded
Convoluted and no where close to how saving and investing works. This guy is nuts. Does he think no new businesses or advancement will happen for the next generation to invest in. Read a book on how money works. Whole new tech innovation, food vehicle battery's space company's delivery systems solar, wind etc. All new and full of potential investments
@@jasonwilson4262 I agree that he's wrong but his point was that all the wealth generation over the last 200 years were dividends from the industrial revolution and that we've now squeezed all lemon out of the low hanging fruit and technological productive progress is stagnating. Most innovation now isn't about increasing productivity but about shuffling existing productivity around. Uber doesn't generate wealth it's just stealing marketshare from cabs. Self-checkout cash registers isn't automation, it's just shifting the labor from the cashier to the customer.
The problem is that this is merely an (unproven) hypothesis while this video essay pretends like it's set in stone as fact. In reality there are still leaps and bounds of innovation that will actually generate wealth and productivity for society (Astroid mining, Fusion power, Superconductors, GMO agriculture, CRISPR gene editing, Personalized medicine, self-driving cars) just to name a few areas that are still promising massive increase in generating wealth for society in the future.
My retirement plan is literally just to hop from cruise ship to cruise ship. Relatively cheap, good food, better company, plenty of activities, and a decent chance of catching the next super-plague. Sounds perfect.
Seasickness will kill before the super plague
@@baxakk7374 I actually don't get motion-sick.
No real food allergies to speak of either.
Guess I'm just built different. 😗
@@E4439Qv5 I think you need to shut up & stop lying about your so-called “plan”
@@E4439Qv5 You're not "built different." You're actually pretty average in that regard. We as humans wouldn't have lasted this long if food allergies and sea sickness were prevalent.
If lacking any reason to stay landside then at least with the way things are now that's a solid option. Unless you end up needing assistance with ambulation etc. before reaching your final days
I plan to retire at the end of 2022 at 57 after 36 years in Telecom as a sales engineer. My wife will retire in October 2022 and she' s loving life! But walking away from a good income stream and building the nest egg to living from the nest egg is a scary proposition, scary to stop saving and start spending.
God places great things on the other side of fear. My advice, don't wait till the end the year. I just attended a funeral of a guy that retired in December 2020 at the age of 62 -- Life is short. Live it on your terms. Take the time to learn about passive income via dividends & real estate, index funds, automating investments, budgeting, etc. you'll be very happy you did
@@taylorcoggan2054 I’m thinking of investing into stocks esp index funds .When you invest into index funds you're essentially investing into the economy as a whole. Because you're choosing to own a little piece of all the most successful companies in the country/world but how are we going to achieve all that given that the market has being a mess most of the year?
@@richardsoncuthel810 There are lot of ways to make a killing right now, but such high-volume near impeccable trådes can only be carried out by real-time experts with ISDA Agreement . I began with " Katherine Duffy Burke ," and my gains were guaranteed. In such instances, I would always advice you get an expert to guide you through unpredictable markets and simply provide you with indicators and tactics for determining when to join and exit the market
@@willlategan7558 sure fnancial-advisors are outperforming the market and raising good returns but some are charging much, seeing that their services are currently in high demand more than ever....seems more like taxing to me
@@colbyryann2665 Yes they can be positively impactful to an individual's portfolio. Katherine strategy is transparent allowing total ownership of my tråding account and fees are very reasonable in comparison with my ROI
You know, suddenly I feel much less enthusiastic about going to work today.
Edit: Shout out to all the boomers in these replies. Enjoy the fruits of my social security payments, because I sure won't be able to 🙃
Sorry about that :(
Workers Strike October 15th. Spread the word. The only way things will change is if we all stand together and fight for it.
@@cosmicllama6910 nothing will change, we are stuck here till the end of our live, i suspect even after death we will somehow get used by the elites either by being an organ transplant or something
@@valyrianeagle7001 They'll play victim and the media will paint you as a terrorist.
@@MrYFM2 write a manifesto and kidnap a government official, only releasing him if your manifesto is published and circulated among mainstream media.
Whelp, guess it's time to return to monke.
Time for isekai ;)
Anprim ogaaa bogaa
Nah, it's grind time and I'm not stopping until I have a fat bank.
Time to get exposed to 130° F.
I expect to work until the day I die from health problems I can't get treated because I don't qualify for any jobs that would provide health insurance.
Some people might find this video depressing, but I already basically knew everything you were saying, and hearing someone say it out loud on a public platform actually gives me hope. The first step to solving a problem is recognizing it. The more people talk about stuff like this, the sooner our society will collectively think of some solutions.
Hello Amy, how are you doing?
Or move to Europe.
@@Pants69 highly doubt she can afford the moving expenses, especially if you're talking about moving overseas 🙄
Watching how the real estate market is being manipulated in favor of some persons, I’ll advise we venture into other marketing options and look for other ways to invest that will be favorable to us.
You are right.!
That is why I had to start forex trading 2months ago and I now am making benefits from it..
I'm glad I was introduced to forex trading and got the best teacher and mentor who helped me understand the financial market l'm grateful to Mrs Shanita 🙏🏻
Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade
I'm New to Bitcoin and forex trading. Can someone guide me on a good way of trading
My retirement plan is either living in the woods or offing myself with a cocktail in a Bahamas' beach.
@Sonic Hedgehog LMFAO 🤣
Trying to crush my spirit? Jokes on you, I already expected to work until I die. Fortunately, work has been stressful enough its accelerating the process
Work from homes gonna becomes work from coffin next.
If they make AI by scanning your brain to mimic the human behavior, technically the ai is part of you working after biological you are dead
@Nekolover It is going to be okay.Try to find a way to be happy. Try to work in a field that excites you. Upskill yourself, focus on hobbies. Your life may not matter to you but it matters to someone else in your life. Hang in there buddy
Yes, let the cortisol flow through you
@@Pancakegr8 😆
It's easy, set fire to the neighborhood you want to buy a house on, this will make the value of the houses decrease so then you can buy the house, yeah it's gonna be a little burned, but it's a small price to pay
Ah yes, what is classically called "The Nero". Excellent choice.
So THAT'S what's happening in California right now!
@@CygnusRising Some historians seem split on or unsure of whether Nero was responsible. But a lot of branding comes from the assumption.
@@uncrunch398 I mean, fair. Whether or not Nero *actually* did that stuff is anybody's guess, but his name's on the side of the chariot we associate with such behavior thousands of years later, so... History has painted him the pyromaniacal villain one way or the other.
A financial company would just buy it all, get insurance and then rent it for 120% of your salary
Investing in stocks could seem easy, but choosing the right stock without a tested plan might be difficult. For the longest time, I've been attempting to grow my $210,000 portfolio, but the largest obstacle is the absence of a well-defined entrance and exit strategy. On this subject, any input would be really appreciated.
Dealing across multiple asset classes can reduce risk more effectively than putting all of your money into one. If you don't understand finances properly, see a financial consultant.
A multitude of individuals downplay the significance of advice until their own emotions become unbearable. A few summers ago, after a drawn-out divorce, I needed a big shove to stay afloat with my firm. I located the most qualified advisor after searching for licensed advisors. Despite inflation, she has helped me grow my reserve from $275k to $850k.
You seem to know the market better than we do, so that makes great sense. Who is the guide?
'Laurelyn Gross Pohlmeier' 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 quickly found her webpage by searching for her name on Google. It appears interesting thus far. I've emailed her; perhaps, she will get back to me shortly. Regards
Even if you have enough to retire it will all go to medical bills.
Bills for treatments of problems caused mainly by the work that you do in order to retire...
@@MrDementao So all that money that you earn until retirement you give back for health care :D Amazing system they made hmm
Damnnnnn
You have a point which is sad
fuck that shit. at this point dying before reaching its 60s is preferable
60% of what you are saying is absolutely Brilliant 10% is neither here nor there and 30% is absolutely wrong.
Overall you are getting more right than most. And I trust your take more than 'the experts'.
Well, there go my dreams.
sorry my man, bit of a party pooper video.
Well. What was your dream then?.
Mine is gathering up enough capital to contiunally generate money for me to live the rest of my life as a NEET
@@HowMoneyWorks Hey, it wasn't a party pooper; it is Reality. All we need to do is remember to downsize our expectations. Million-dollar house? I fit quite well in a small room with a few amenities. Giant refrigerator? One regular fridge for the food, a small one for the root beer (can't drink anymore). A hot blonde? Come on, guys; better to bet it on the ponies at the racetrack. A Tesla Super Muscle Machine? I'll steal my kid's bike and go downhill at 65. And IF I get to 65 myself, I'll steal my grandkid's bike and do it again!
Humor is all we can take with us, friends. Better cultivate it before we're mulched.
Finally an economics nerd who doesn't just subscribe to the "muh just work hard and you'll be fine"
Get a half decent job. Live like a poor student. Stay away from spending money on entertainment, toys, clothes and women. Live with multiple roommates to cut costs. Grind and push as much money as you can into Euthereum and Bitcoin. 70% Eth and 30% Bitcoin. Do this for at LEAST 5 years and you'll be set for retirement at the minimum if you don't touch your investment for at least 10 years.
I am retiring next yr at 55 with 3 houses paid off worth 4.5 million. One is my place of residence the other 2 properties will give me $80,000per/yr rent . I will have an income stream of $20,000 per yr through my super which gives me total $100,000 a yr to live comfortably . I have no debts
Stay Motivated!!
I do see it that forex and crypto trading is one of the profitable money exchange services that elevates investors and their financial status.
That's true, Its really needful for beginners not to settle for videos alone or they will see themselves losing all their money just like me when I newly started trading with this videos here on RUclips
Most coins are going to10x this
Year. The recent bitcoin correction
down from its all time high has had the market and everyone is panicked in the past week , how ever not everyone has seen it as a bad Omen, the digital assets price has gone down below $25,000 causing investors to believe the bear market
@Betty T. Gonzales
Of course. I was recommended to her by people's testimonies. Writing her has been the best decision I have made
My first investment with Mrs Ava Kimberly gave me a return of $20,000 after 15 days and am very happy. I feel like am the only one enjoying this profit from her lucrative trading strategies
Here's an interesting topic: I live in Ecuador, and I've met several elderly (at least 60 yrs old)people who have told me that they don't have the money to retire, but they can't find a job because no one will hire someone of their age. My theory is that with declining birth rates, there will be a labor shortage and employers won't have the choice to avoid hiring older workers, but that so far hasn't seemed to be the case.
Because a lot of jobs are bullshit jobs, like the video outlines a lot of the work to innovate and automate has already been done and it gets harder and harder to efficientize from here.
To me true retirement means not depending on gov't and having the means (land, seeds and animals, tools, knowledge) or the community to sustain yourself for many years.
Elderly people tend to demand hire wages from being more skilled or experienced at their craft. Also a labor shortage is very very unlikely. Population is continuing to sky rocket in under developed countries. In developed countries millions of manual labor jobs are being completely automated at a rate much higher than the declining birth rate
From what I learned in my economics class, the working class will be unable to support the retirement of the boomers who will be retiring due to the sheer number of those who are retiring at that time, so they will have to continue to work.
@@Matt-lp2bs my Ecuadorian husband says that people don't want to hire elderly people because they're in the hospital or at doctor's appointment so often, so maybe that's a factor too.
@@lolsflint7598 they would be able to keep working if they still have a job, but if you get fired or downsized then it's nearly impossible to get a new job. Maybe it won't affect the economy as a whole as much as I thought, but if you are one of these elderly people with no savings and no job, what do you do? It's a hole that's impossible to climb out of.
What's sad is the people with abusive parents that kicked them out of the house, or were forced to leave due to the terrible environment at home. They have no chance to own a home, ever.
it's such ashame that nobody has invented futurama's stop and drop booth yet... it would be really useful when I hit 60...
Do It Yourself, It's a market that hasn't been exploited. you could potentially make enough profit that you could retire
Good luck trying to lobby that to congress. Unless it taxes the user to high hell, you’ll be pressed trying to legally get them on corners
I have been self managing my portfolio for the past 5 years and currently with $150k asset under management I have underperformed for the past 2 years and this has got me worried. Are there anyways to turn this around as I am closing in on retirement.
Avoid tax complications; consult a financial advisor to restructure your portfolio instead of selling off assets.
Apt!! I was self managing but suffered heavy losses in 2022 and i knew i couldn't continue like that, so i consulted a fiduciary advisor. By restructuring and diversifying my $250k portfolio with dividend-paying stocks, ETFs, Mutual funds and REITs, I significantly boosted my portfolio, achieving an annualized gain of 25%.
Impressive! How can I contact this advisor? My portfolio has underperformed, and I need guidance.
I don't comfortably throw recommendations around on the internet, but I've been working with 'Melissa Elise Robinson'. God, she's brilliant! I'm sure there are others who are good.
That would be Melissa Elise Robinson You should look her up. I say, to be honest I almost didn't think I should have, but I'm glad I decided to let someone handle growing my finances.
About your opening statement regarding the purpose of retirement, this assumes of course that the whole point of life is to endure drudgery until we turned 60 and only then can we enjoy it. The whole point of being alive is to enjoy it and we should be living every moment like it’s our last right here and now.
The more we focus on retirement as the panacea to life’s problems, we will remain trapped in a shitty appreciation of the beauty of life that’s all around us NOW.
Yes! Especially since many people happen to drop dead before 60!
@@lisabrightly We're dying from the moment we're born and the duration of our lifespans is uncertain. The young can die before the old and the healthy can die before the sick. All that separates us from death is one breath.
I respect your enthusiasm, but there is nothing good retiring with nothing and praying for charity. Most people will likely work till they die at the current rate we are going as a society. This is without getting into hostile governments, seizures, and censorship.
I'm 38 and tell people I'm retiring my management spot of 20 years in 5 years. I'm only 38.
Had so many people tell me I'm too young to retire.
I'm gonna be working at a cushion job working 4 days on and 3 days off where I can make my own schedule and still have sick pay, paid vacation and health benefits.
Basically where I work is a spot for retired managers who work a couple days out of the week during the weekends and holidays and get paid more because the company wants to keep us. We volunteer to work the weekends and holidays, and because of this, our job place caters to our schedule and wants.
I've gotten three raises in one year. Had my hours cut and compensated for the cut in hours with the third raise. I've been given gift cards by home office just because.
Why am I retiring? Because I want my life back.
Originally I didn't choose the extra hours. I was originally 40 hours but my company sold out to another that had their managers working 48+ hours weekly. Hated it, but toughed it out to pay off the house.
Paid off the house in 13 years. Now there's new management in corporate that bumped us all down to 45 hours with compensation, but I still want my 40 hours back. I want my life back.
House is paid off and gave my husband 5 years to milk the money cow to get other finances straightened. Replacing the 20-year-old mattresses. Replacing the 15-year-old washer/dryer set that are off balance and stopping and starting on their own, tearing out the old carpet and putting down the cheap, fake, snap-on wood.
In 5 years I'll only be working for health insurance, vehicle maintenance and the rainy day fund.
@@christins.1481 "Why am I retiring? Because I want my life back"
^MY POINT EXACTLY
Italian here.
I have an house.
I'll retire after around 40 years of work, or at a fixed age (don't remember which one). I have all health expenses covered by the state, and will receive a pension as well.
On the other hand, I give around 1/3 of my salary to the state each month (if you factor in also indirect taxes, it's closer to 50%).
I belive this is truly advantageous for me: I have no fear for my economic future
Sounds a bit naive to me if you are not even the slightest worried since the pension system in alla european system is severly underfunded
@@viktorandersson5067 not underfunded but overburdened
It works, for now.
It has worked for at least 4 generations, we will find a way to make it work also in the future. It is a fundamental necessity for state to persist, as the job of a state is to better the lives of its citizens (I know this is different from the concept of "hands off" state of the US).
@@Holuunderbeereyou're right 👍
@@robertotomasini2072 I get what you mean but the questions is how are fewer people gonna support a growing retiree generation when the young people today have harder time to find work and are much fewer in numbers?
Math doesnt add up and we can see it everywhere in Europe. Just look at the situation in France, Spain or even here in Sweden. Sweden has today a higher number of retiered people below poverty than in 50-60 years
There are more holes in this than the tools that lumberjack is making
I retired last year at 29 lmao. This video is a cope
I would like to know what holes.
@@drdavinsky So? This video is talking about averages. I have a sibling who is doing very well for himself in the tech sector. But he doesn't represent the average bear. People in non-specialized jobs are still fucked.
What are the holes please? I'm new to learning about all of this I'd love to know more if you could elaborate. Thank you 🙏🏻
@@genericwoman3713 There's never going to be an elaboration, cuz it's a paid troll making the pro-capitalist comments, paid by capitalist agenda.
Last time, my father and uncle gets a simple job that can raise the entire family and most if families lived around us had at least 2 children and fully paid off our home. Now even both me and my partner worked very hard almost half of our life with now with 1 child. We still worry about our financial status such as health insurance, child’s post-secondary education and our housing loan.
The housing market is probably the most overinflated of the ones you have been talking about
Demand is greater than supply, OSB costs 3-4x more than it did a year ago. You can thank all the craziness for that, but eventually we will be producing houses like we used to... if you believe you can't, you wont. If you believe you can, you probably will.
No standard house should cost more than $20-60k maximum. That is a reasonable price range, so yeah that it is.
@@user-gz4ve8mw9l I guess you don't like construction works having good pay or the factory workers that produce the nails, lumber, OSB, gusset plates, trim, carpet...
@@shantilus On the contrary I'm going into a trade skill apprenticeship this winter in just a matter of months. Yet I don't know what I'll be paid after I complete my apprenticeship. It's only $15/hr during the start of the apprenticeship. Just that $23-26/hr isn't a living wage either. I've heard people claim that the trade I'm going to be learning they make 80k/year. Yet I remain highly skeptical. I prefer hard work, so long as its hard work learning an actual skill. One that pays a living wage or higher upon successful completion of the learning process.
I have a college degree, which has done nothing for me. Aside of costing me an absurd amount. I suspect I'll be ridiculed for being clueless in my early 30s as an apprentice. Yet that doesn't bother me so long as I learn after all.
28-32/hr should be minimum wage in the bulk of the USA. As that is barely on the cusp of a living wage realistically speaking. Anything above 32/hr should be considered higher than the standard basic living wage required.
I've worked in logistics in lower management, worked on government projects on military installations as a subcontractor, run an entire retail stores logistics back-end, worked as an administrative exec for small businesses, worked as a pizza maker, at a pet store cleaning up after animals and insects, worked as a restock clerk, jumped out of cranes on a worksite nearly 3 stories up to meet emergency safety criteria, etc...
Not once have I been paid a living wage, the closet I came to it was via government contract work. Which only lasted a mere few months per terms of the contract. Where I was paid $24.93 an hour 40/hrs a week. Which was poorly managed, and they cancelled the job 1 month early for all but management.
I have NOTHING to show for all my hard work to date. Most of what I had I lost at the onset of the covid 19 pandemic. I couldn't afford basic costs of living while working any of these. Except the months as a contractor for the government as brief as they were. Even then I couldn't afford rent and everything else combined on that.
@@user-gz4ve8mw9l I don't dislike you, but that might be the dumbest cost for a house I've ever heard.... sure if we lived in 1960 that sounds reasonable for a 1400 sq ft house outside the city... a $60k house would be the equivalent of paying 5-7 guys between $125 - $200 a day to build you house... only give them 60 days to do it... oh... and that doesn't even cover any materials... my guy... use that brain and do a little math.
Unless you were talking about a 300 sq ft tiny home... then we are on the same page.
You can’t cut down a tree with a “table saw”. Chain saw is the tool you were looking for.
It would take all 10 workers to walk around the forest with a table saw cutting trees 😁😁😁
Of course you can. You just need a really long extension cable
Listen I don't think he generally understands what lumberjacks do lol, he was talking about nail guns at one point
@@roymarshall_ yeah, for nailing back trees they werent supposed to cut
Right. How can you take anything he said seriously after a mistake like that.
Working hard and saving up for a good retirement experience when we don't even know if we'll still be here tomorrow to reap what we sow today. 🤷♂️🤦🏻♂️
Yeah. And also, even if we were to be present in the future, we aren't guaranteed to be physically fit to enjoy our retirement. This is just my opinion, but working during the best time of your life to save for the last days of it when you can't run or do so many other activities you would like to do now, and having to go to the hospital to get regular check-ups, it's pretty depressing. The sad thing is that I don't know of any other alternatives. (I know there are alternatives, just don't know how to apply them to my life).
what can I do? I have been disabled since 2009 and I am 58 years old at the verge of retirement. My portfoliio of $750k is down to $492k, How can I profit from the present market" , I mean I've heard of people making upto $250k in couple weeks during this crash and I'd like to know how.
@@geraldantonio3160 Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
@patriciamartin10 My advisor is STACIE KRISTALWEBER , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
Be gone bot
Scam people out of their lives, that's how
The major fortunes in World have been made in Real estate, crypto, NFTs and stock.
The most important quality for an investor is temperament, not intellect… You need a temperament that neither derives great pleasure from being with the crowd or against
You are right! Investing in this assets can make you rich
Bitcoin
Stocks
Real estate
NFTs.
I have investment in crypto and NFTs, I have already worked on my early retirement.
@@adrianamartim9978 I do think Bitcoin is the first [encrypted money] that has the potential to do something like change the world.”
@@adrianamartim9978 Investing in crypto market isn't a bad idea. A few years back I felt it was impossible but here I am today all I had was God and a dedicated broker.
The saddest part about this mess is we're not accomplishing anything and dumbing people down in the process.
Actually, we are supposed to be watching more and more RUclips videos so that the content creators can keep increasing views and retire while telling us we cannot.
And useless videos like this aren't helping. It's like telling an obese person there's no point in losing weight because diets are just short term fads, many people had issues with surgeries, going to the gym costs too much money, blah blah blah. What's so helpful about a video filled with criticism instead of any solutions?
@@np5246The guy at "HowMoneyWorks" is a real "chocolate stuffer"...
While working into old age has been discussed a lot to get the next big demographic dividend, I am noticing more and more an even more disturbing proposal: start working earlier at little or no pay. Unpaid internships was a starting point. Then, I saw a HBS professor give a lecture at Google about employing troubled high school students at a factory (and,apparently it increased graduation rates too). One more step in the same direction and we are fully talking child labor and everything it entails
Unregulated labor markets always return to slavery systems. There's simply no easier way to boost ROI on labor costs than to eliminate them entirely.
The problem is our fiat currency system.
I would have done much better had I worked from age 15-16 tbh, even age 14.
If our grandparents did it, why can’t we?
Check out that bill in Iowa giving companies permission to use child laborers in mines and other dangerous jobs.
Some of you really have no historical perspective, eh? This is like listening to people say "Surely, there will never be another large scale war on earth after the last one!" ...Which they've said after every major war since Napoleon attempted to conquer Europe.
Children working has been the natural state of humanity for nearly it's entire existence. You've got around a century recently where children working wasn't the normal state of things, primarily in First World Countries. That's it. I agree with you that children should not HAVE to work, especially at the expense of an education or if they are subjected to hazardous conditions. But the idea that 'child labor' can be talked about as a blanket term where it's all bad is a uniquely first world 20th century viewpoint. It's wrong not only across most of history, but across most of the world today. Frankly, it's just a wrong perspective on the issue. The refusal to let kids work in the first world is not inherently more moral than the rest of the world where kids often help their parents at work after school, especially if those parents own a small business.
The way you phrase things makes all child labor sound as bad as african kids mining lithium in toxic conditions. It simply isn't.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.
I don't have a full-time job; instead, I'm self-employed with a variety of sources of income. Regardless of how much money I generate each month, I maintain the same budget and adhere to my means-tested lifestyle.
For a successful long-term strategy you have to seek guidance from a broker or financial advisor.
Having an investment advisor is the best way to go. Based on a direct encounter with a CFP named Kate Elizabeth Amdall, I can say with certainty that their skills are excellent. She helped raise over $580,000 in 18 months from an initially stagnant portfolio of $150,000
Fantastic! can u share more details?
Cant reveal much info, She is the shrewd advisor responsible for my portfolio success, it's only right you look her up and confirm yourself.
“I’ll have to work harder on crushing your spirit the next time”
Instant subscription 😭
such a downer view.
Imagine in 2021 thinking that "You Will Never Retire" is controversial. I knew this when I was an undergrad 10 yrs ago. "You Will Retire" is the actual controversial statement.
@Dan Nguyen Wasn't true then, either
I started saving for retirement in 2019 to retire in 2030. I already have been able to trim a year off of that. Save more, stop leasing, learn to cook.
@@lazstan As workers our biggest expenses are housing and transportation. People buy houses that are too large(or pay rent and get no equity), buy new cars, waste money on pointless degrees, and fail to invest in low cost index funds. This drives the debt, and makes retirement even harder to reach.
Buy an affordable house(if you buy a large home plan for it to be a multi-generational home), get a used car, consider a skilled trade rather than a degree in BS, and buy and hold low cost index funds. Being able to retire has gotten harder, but it is still possible.
I could retire now at 48 years old if I wanted. I just wanted to see his argument. Though I admit if I retired now, I would never be able to purchase another home or buy a fancy car, and I'd have to live really frugally. But ideally I'd like to keep working so I have a higher SS check at 67 since I make much more now than I did in my 20's (I was in the military which had very low pay).
You don't seem to know what controversial means. It has nothing to do with being true or not
Haven't seen any hope for my future since leaving high school, now i am 26, closing in on thirty quickly and the only thing i imagine that can pull me out of my dire straits is my parents dying which is not how i want to financially recover tbh
Just hope their end of life medical care,funeral,casket,and burial doesn’t bankrupt them.
Holy fuck that is bleak
Take a risk in crypto currency. You’ll be rewarded 100 fold years down the line
It’s better their money goes to you vs back to the government. Best thing you can do for the next generation is pass on any wealth you’ve accumulated before dying. Yea you’re still young but I’m already 33 and it still feels like I just turned 30 last month…. Time really does speed up as you age so don’t wait around too much either.
The government wants that wealth.
The pandemic has shown us just how quickly decades of planning, investing and saving can be completely upended. This could mean your current financial plan might leave you without enough money to last your retirement. A recent Vanguard study found that, on average, a hypothetical $500K investment would grow to over $3.4 million under the care of an advisor over 25 years, whereas the expected value from self-management would be $1.69 million, or 50% less.
In other words, an advisor-managed portfolio would average 8% annualised growth over a 25-year period, compared to 5% from a self-managed portfolio
@@Tsunaniis-j5l I'm happy to have stumbled upon this discussion. If you don't mind, could you tell me the name of the financial adviser who helps you with your investments and how I might contact them? It Intrigues me to keep learning.
@@Tsunaniis-j5l Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
@@DreamweaverShade-h9pmy friend it worry me that Orion has deleted their messages... Be weary of scams brother.
@@AbiyyuAH This is a bot conversation
Still going to contribute to my 401k and Roth accounts. Even if I can't retire, I can set the stage for my family.
The Only Stage you’ll set is being Broke.
@@macclark4112 a pointless and rude comment.
inflation will make you save up forever.
@@mainframe2742 that's the dirty little secret finance types don't tell you. Cost of living (roughly) doubles evey 18 years. There should never be a purely withdrawal phase in retirement. If your principal is keeping up with inflation, then your reserves are actually decreasing with time.
$50k today spends like $25k in 2039.
Agree. I’m saving for my kids so that they can take that next step. I’m doing alright for myself.
Parents took the first step by legally coming to the US. I’m taking the next step. Kids should be set up as the third step.
"If you still think that you're going to make millions overnight, I will have to work harder at crushing your spirit".
Please, keep working at it.
Bad things come from living in fantasies, and that's a fantasy that plenty people have and must be ended if we want the world to be better.
The "temporarily embarassed millionaires" (i.e. people who think they'll be rich some day, but never will) are the biggest detriment to us being able to make things better
@@KrisVic91 because they will then vote against their own best interests, it should have been obvious to you
@@KrisVic91 I'm guessing you're a right winger/neoliberal if you really have no idea what I'm talking about...
@@FirebirdCamaro1220 What a stupid comment. So it's better to think ''i will forever be poor''? Goddamn leftist.
@@rxz1 If you don't own a business or are not a professional class worker (i.e. doctor, lawyer etc) by the age of 30, you will never be wealthy 99.9% of the time. So no, it's NOT a stupid comment, actuary tables back it up
That guys golf swing has about as much hope as my retirement.
lmao same
The real issue is that so many people are living above their means, or what they can afford. If you don't have good credit, no savings, no investments, and are still paying off college loans, then you should not be paying rent or a mortgage. You can't afford either yet until you improve your personal financial situation. Also, your day job should not be your only source of income. You should consider having/finding/creating multiple streams of income. What skills do you have? What are you naturally good at that can earn you more money? Rent is also a waste of money because you are only paying someone else's mortgage instead. If you lived at home with family for a couple of years, you could use the money you saved to invest in yourself and your future. Ideally, you should live at home until you either reach a certain level in your career or finances, where you can easily afford the lifestyle/future you want, or until you marry; but I don't suggest marrying too early, but later in life so that you will be mature enough to marry well.
@@tdr.220 while I don't disagree with you I will add that a vast majority of people (at least those in the country I'm from) don't have the privileges to carry out your prescription. For many people basic survival is above their means. Rent, skills, opportunities and a career are not as common place as you might think in South Africa and many other poorer countries. But that said, if you do have those privileges then I do agree with you.
I keep wondering what will happen when retirement is no longer possible for most people. How will our lives and attitudes change? Working until you’re too weak to carry on is how it’s typically imagined but what kind of jobs will be available for seniors that pay enough to afford the cost of living? Think of the compounding crises we face in environment, energy, production and pollution. With all that I can’t see there being readily available work that pays for elderly people.
Look at the "lying flat" movement in china. While it's not really a new thing but it has been coined that term recently.
The idea is that you don't work hard(which only make your boss richer) in belief of a better life but rather give up on the idea and work bare minimum, prioritize self over work
Soylent Green effect
@Cold Heaven LOL look at firearms ownership in China vs America. Draw your conclusions
There is plenty small work needed in horticulture, for example. Maybe urban farms are the answer for work for old people and making our agriculture more sustainable.
In ancient time, when you were too old to work, you were taking care of by your children. In exchange of looking at the grand-child, you were given housing and food by your children.
Those who were without children ? Well...