Boredom is for people with a lack of imagination. There is so much to learn that I get excited just thinking about it. Thank you for your excellent presentations Azul. Keep up the great work. Dave from Canada
Dude . When I hear people say _ I don't want to just sit around and wait to die - or similar I think - You've lived 50 , 60 , 70 ?? Years and you have NO ideas on what you want to do ????
@@AAWGASHTADS indeed it's surprising. What's even more surprising is how those same people insist that if they have no idea what they will do in retirement, insist that no-one else has legitimate ideas about their own retirement either.. I'm retiring at 56, and I have spent countless conversations with people in the past couple of years where they insist that I will not have enough to do, even though I keep talking for the past few years how excited I am to get back to practicing and playing jazz piano full-time. I pretty much stopped talking about it with most people, because their minds just entirely dismiss it as a legitimate reality.
if you have a plan of what to do. Azul is absolutely correct - the adjustment from 40 hrs to 0 is like slamming on the breaks in your car and can really mess you up if you dont know what's next....
I was working until the age of 64 but had to stop during Covid as I had to shield. I have never returned to work and I'll be 68 next month. I am never bored. I learn languages, read extensively, travel, do lots of walking and listening to music. No tv. Just internet. For a bit of extra cash, I may do some stuff online.
I worked for 40 years, with 30 of those at the vice president level in the IT industry. 💻📈 While it didn’t make me rich, it gave me enough to feel semi-secure. I kept working until the age of 65, when no one would hire me anymore. Was it surprising? Maybe not. I would’ve gladly worked until 70😊 I haven’t worked the past five years, and while some might call it retirement, I wouldn’t. Instead, I’ve been diving into serious hobbies🌍🗣 and flipping properties 🏡🔨. It keeps me busy, challenged, and fulfilled! ✨
@@bpang88 That's kind of where I was at, I retired at 66+, it was just time to call it quits. Although I liked my job my career spanned 40 years in engineering, the commute, the schedule, it was getting tougher to roll out of bed every morning, enough was enough. I've been retired for 6 years now and I look forward to every day.
I understood it was important to have debt paid off entering retirement. I did with all except a small portion of my home, but three months into retirement I decided paying off the house needed to happen. So spouse and I scraped it together and paid it all off. Three years later, very happy I did.
Well made points backed by reliable statistics makes this a sterling video. Retired at 58 (I had planned but this early was a surprise, a wonderful one.) and now 81, I am even more happy. Yes, media stands out as mine is RUclips. From this I learn all kinds of information and then pursue some of it later. Advice: retire as soon as you are able.
I aged out of my career at 60. I wasn’t ready to retire and would never had made that choice. Yet here I am at 64, best thing that ever happened to me. I accepted the situation and decided to roll with it and not seek something else. It’s been great and I’ve never been happier. Sometimes retirement happens.
Same here, 58. Forced or mini retirement. We’ll see what happens in the future. At least I’m financial secure where I don’t have to go back to work unless I want to.
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?
Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
this is huge! mind if I look up the advisor 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
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
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 am doing it at 65 next year. I am debt free with 700,000 in my 401k. $5600 a month in pension without using 401k money. Waiting until 67 to get SS which is approximately $2400 so that would be $8000 without using 401k. Hope it all works out good.
@@martinmccoy2735owning a house can also be a curse. You are now free to move, travel or find a new place. The cost of owning my own home is quite high in terms of opportunity cost. I’m paying close to $1500 a month in taxes, insurance and utilities. My house is paid for, but if I had that much money in the bank, then I can easily invest that and just from the investment money live in many places from just the investment income. On the other hand, I also have a homebase.
It's interesting that you gloss right over how much pre-retirees look forward to travelling, versus how much retirees look forward to or actually engage in travel. I think a lot of retirement advisers push travel as an expensive activity retirees should pursue, in order to get those folks to save more for retirement. In reality, most people travel a bit and realize it's kind of an empty activity, because you aren't really doing anything productive, you're just going to see places where other people live and work. The biggest single challenge in early retirement is the cost of health care, because of how much it has gone up, and continues to go up.
For me real estate taxes , home insurance, vehicle insurance and health insurance have exceeded the rate of inflation 2-3 fold. That’s a real concern. Over 30 years my real estate tax has gone up 7x. I’ll be paying 100000 30 years from now! Yikes
@@petervanheest7748 - That means your property value has increased a lot and/or you live in a place with very high property taxes. Both of those can be addressed by selling and moving to another location?
@ that is true, but the real estate taxes have far exceeded the price appreciation. Town management has been horrendous. We will be moving relatively soon, but other factors are keeping us here for the time being. But real estate taxes will be a burden for seniors who have not saved well enough for retirement.
I'm not waiting any longer than I have to. I will be retiring at 51 or 52. I'm on the home stretch and I'm only in my mid 40's. I'm thankful I have this ability, but I made this happen. I'm not lucky, I made it happen. I wasn't handed a damn thing in my life, I earned every bit of it.
That's right. I'd rather keep working my interesting job with its paid travel, and put my hard working wife into early retirement. Meanwhile, I can dial back my workload and really enjoy my paid vacations until I'm 65.
Yep. Most of the things I outsourced 10, 15 years ago, I outsourced them for convenience or having more productive things to do with my time (ie, writing software as opposed to growing my own food). As I approach a time in my life that health is an issue, I find more and more of my need for outsourcing is less about convenience or not having time but from a viee point of necessity.
I cannot imagine being bored in retirement. There's always something to do or learn. Last night after watching a TV news show, I looked up a turkey meatloaf recipe online and made it for dinner for tonight.
Great charts Azul. Not working and watching TV. Classic. I'm newly retired and working through post op shoulder surgery plus it's winter. Once spring comes I should be raring and ready to go!
As a retiree I totally agree, it's important to work on financial and physical health before you retire. In my early 40s I told myself I would retire in my mid-fifties. I then worked hard, typically waking up early, going for a run, then heading into the office and throwing myself into the job 100%. I spent a lot of time travelling with work all over the world (not always as nice as it sounds!) and kept up the exercise using hotel gyms early am before meetings etc. I did this for 15 years and it was tough. But then I was financially able to retire as I had planned and I'm now able to make the most of retirement having good health (fingers crossed so far!). Still keeping up the exercise, as long as I'm able to.
I plan to retire at the end of 2025 at 62 after 36 years in Telecom as a sales engineer. My wife will retire in May 2026 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 couple with the alarming recession and CPI report
I feel your pain mate, as a fellow retiree, 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 $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
My advice: for newbies to grow financially this year, invest. Saving is good, but investing elevates your finances. Why newbie make huge losses on trade is because investing without proper guidance can lead to mistakes and losses. that will stop you from trading, this has been one of the biggest problem to new traders, I've learned this from my own experience
I wonder how many people substantially improve their health and physical shape after they retire - because they have plenty of time to exercise ? Or people mostly stick to whatever exercise routine they had established previously? I'm 55 and I'm pretty much retired, I've reduced my work schedule to 25% and next year I'm retiring entirely. Looking forward to it! It's remarkable how difficult it is becoming to concentrate on getting the work done - I even counseled with a psychologist about it. She said it's a common scenario, where people begin to detach from identifying with their work in their last years before retirement, and the mind has a difficult time focusing on it.
Working adults on average spiend about 21 hours per week watching TV. At retirement, you lose about 45 hours week scheduled for the job and commute. Trading less than half of those job hours for additional TV time does not sound excessive. Especially since you now might have multiple hours freed up in other areas.
A job is where you're told what to do every day. I can figure out what to do on my own thank you. Retire at or before 50 so you have the mental flexibility to deal with it. I can not imagine waiting until 63. It seems insane. If you hate Saturdays, don't retire because it's six Saturdays and a Sunday every week.
Retiring March 21st. I am looking forward to a lot of what you had listed. I found they did not ask about 'projects' around the house. I know those will take up some time!
Atleast 1 yr before retiring, live on the income you think you will need in retirement and sew how that works for you. Main thing is being debt free and figuring out the difference between a want and a need
I'm 54 and planning to retire at 60. I have a really good work pension. I'm hoping to travel, spending time with my partner,do some courses, coffee afternoons,reading and yes tv.
Your Home mortgage - not All mortgages if you have rental properties . I know a guy who has a couple rental properties and he's going to work until 70 to have them all paid off . He's falling apart physically - operation after operation in the meantime . Sad to watch
AZUL. totally agree with this but am not in the "pay your mortgage off" camp. It is much more important to keep the liquidity invested than locking it in home equity, which is very difficult to extract, particularly when retired with no income. plus you are paying a low rate mortgage with higher return investments. IF clients need the piece of mind, we place the payoff in a seperate investment account so they know its there to take care of the mortgage in something happens. keeping this money invested rather than in equity has saved several families stress and hassle. I have never had any tap the "mortgage fund" once in place BTW.
I think for a lot of older folks, the paid off mortage gives them a sense of accomplishment as well as peace of mind, even if it's not the optimum decision financially. Your point is valid, though. You can't eat your house.
Great discussions. In my Household they say I am too Young to retire. I have been on a soft retirement since 4 years and expect to retire fully in 5 months. I am 51. I found that it is often forgotten, the work load you have had. I worked for 25 Years within hardcore jobs, whereof 15 years as self employed. When I do my hours and sum up, I have worked more than 40 years in total. I just don’t have more energy to put into more work, but I do have energy to put into efforts for family and friends. Time which in the past was difficult to provide. Today retirement planning does not consider over hours and mind fatigue.
Once you get into your 50's there is a ticking time bomb of getting let go because of your age. Sadly, it went off for me but I was financially prepared because I saw it happen to others.
I just turned 49 and looking forward to retiring around 57. From all the comments, it seems like if it wasn’t for medical coverage, we’d all be retiring earlier than 62.:)
The whole point of wealth for me is freedom. My magic number in my mind is 5 million needed at 65 to not worry about anything. Am i better off investing a good portion of my income into stocks or real estate to achieve this goal?
Varied sources of income is wise and especially living within your means. My net worth is $2.6M and I can pay my bills with no stress, but I don't live like I have that. I have no complaints.
Absolutely, having a solid plan is crucial. My portfolio has doubled since early last year. My market analyst and I are working towards a seven-figure goal, though it might take until Q2 2025.
I'm a young dad and I'm really glad to hear your story - it inspires me! I'm still working, but I'm counting down the days until I can enjoy my retirement Years. Can you please share your tips? What's the key to achieving this milestone and making the most of your retirement years? Any tips would be greatly appreciated!
Maureen Finn Austin 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
Still working at 67. Love working. Have enough to retire but still making a lot. Still go on at least 2major trips a year . Still learning. To each his/her own.
I think it depends if your job is physical or not. an accountant could work until they're old vs. someone that has a job that requires a lot of lifting,bending,.
I started saving early on and increased my 401K contribution when I got a raise. It made it easy to walk away at 59. I have no regrets about retiring early.
Azul, you are essentially working by doing these videos, which validates my view that we are happiest when we are engaged in an activity that we enjoy. Of course if one has a job that is a pain, then retirement makes sense.
I just had a check in with a younger supervisor. She asked how long I plan on working. I'm 54. Seriously? She explained that it's about future staffing. I get it, but wow. It makes me paranoid. Maybe I shouldn't have said anything, but I said I would be around 5-6 more years. Hopefully I can be done by 58.
This may be a genuine check and one that is necessary to ensure continuity. I would not read more to it than what you do is important and some people are possibly concerned of losing you.
Everyone has a unique set of circumstances when it comes to retirement. In my case I had been thinking about retiring for a few years but never committed to any specific date. In the middle of 2012 I had a heart attack at age 61. Fortunately I survived without much damage but it really caused me to start seriously thinking about my future. I retired at the end of the year - a month before my 62nd birthday - and never looked back. I could have worked a bit longer but didn't like betting against myself. My wife and I had always lived well but conservatively so money was not an issue. I was also fortunate to be able to retire with a pension. It's easy to quit your job if you hate it but if you can see yourself retiring after the best day you ever had at your job then you know it's time to go.
I was forced to retire earlier than I had planned by a person who got promoted to a supervisory position over me who was just a horrible manager. I was initially angry about this but, when I realized that my financial position allowed me to be comfortable in retirement, I was thankful for the push. The healthy time I gained was and absolute treasure.
Nobody is asking the right questions. I'm worried about retirement and want to maximize my savings. I've tried various investments that didn't work out as I hoped, and now I'm unsure whether to invest in the stock market or index funds. Any recommendations would be appreciated.
The stock market is great. however, investing without proper guidance can lead to mistakes and losses. I've learned this from experience. If you're new or short on time, it's wise to seek expert advice, which helped me navigate the market's ups and downs.
Agreed, people often underestimate the role of financial advisors. Over 30 years of data reveal that those who work with advisors typically earn more than those who do it alone. I've been fortunate to work with one for 5 years now, resulting in a million portfolio.
I just looked up her website on google and I would say she really has an impressive background in investing. I have sent her an email hope she gets back to me soon. Thanks
I think it's a very fortunate few who can consider their options for retirement. I think that most people retire when they *can*--or when they HAVE to. As far as loneliness is concerned, I find that a *little bit* of being around other people goes a LONG way! 😆
I would retire TODAY if Social Security would pay me the $5,000/month my employer is paying me. But SS only wants to give me $2,200/month. I'm 65. So...if I retire now...I'd take a $2,800/month hit on my monthly finances.
I'm also an academic and I plan to retire at 62. I've had enough of the irritating stuff of academia and will find other things stimulating (i.e. hobbies such as guitar playing and genealogy).
I can only speak for myself (obviously) but, the ONLY thing I miss of my high paying (and highly stressful) job, is the income (which I don't need).... I miss NOTHING else....
I’m 63 with a substantial nest egg and two pensions (one is military). But I also have 13 and 15 year old sons from my second marriage. I enjoy my job and my company doesn’t seem to want me to leave, so Im thinking of retiring when the youngest son finishes high school. Then my wife and I should be freer to travel, and we might have grandkids from my oldest son (from first marriage). Im not too concerned about health also. Most people think Im 10 years younger than 63.
You can retire when you've prepared to retire. If you are just going to work in the yard and such low cost endeavors, you can retire much earlier than a person who wants to do expensive stuff. IMO, if you've saved enough to retire and use SS as lunch money, you're ready
In the 50's my late dad worked a modest job, mom was a housewife, and they lived a nice lifestyle including owning a home. Nowadays both I and my partner work and can barely afford to make ends meet. Luckily, I've just received an inheritance of $500,000 and concerned how best to use money. Should I pay mortgage since I’m still working, or do I invest in stocks instead for better return on investment?
Depending on your risk tolerance, you could invest some, maybe try $50k at first in a high yield income ETF. This could give you cash flow for as long as you keep the investment. personally, I like FEPI, SVOL, and NVDY.
You should do a mix of both. Seek the help of a financial advisor and a real estate broker. Use $100k to get yourself a decent rental property, may need a mortgage but keep the cost of the property low, and put the rest into stocks.
Imho, investing with the help of an advisor did the trick for me in barely 5 years. Retired with couple millions at 55. I worked hard everyday as a teacher for 22 years, and my salary was over 100k annually, enough to get me fully invested.
@@andykuzman bravo! retired in my 40s after inheriting money from a childless relative, traveled overseas and found a girl almost my age, happily married but only issue is how to grow and preserve our wealth... think your advisor can be of help?
Can't divulge much, I take guidance from an independent financial advisor 'Karen Lynne Chess' most likely, the internet is where to find her basic info, simply do your research.
Forced retirement is as common as choosing retirement, in my experience. I know a lot of professional people who have been sidelined by not being able to find any work in their profession. Professionals that work on the internet can stay active a lot longer than folks who's work requires their physical presence and output.
At 39, I’m unsure about what’s next for me. I’ve saved $425,000 with the goal of retiring by 50, plus $10,000 in a health savings account and a property that might earn me $200,000. What are some effective ways to create passive income with these assets?
Is it time for a career shift or should I consolidate my investments into a single account? If I go for the latter, how do I do it right, and what could be the drawbacks? Plus, with a $200K property sale on the horizon, should I combine my investments or diversify them across different markets?
These are crucial questions for a financial planner. I met mine at a NYSE summit, and with her help, my wife and I reallocated our $1.7M portfolio between a traditional IRA and a brokerage account. She’s been making investments with our approval and has helped us recover twice our losses. We’re holding steady and carefully navigating more markets
If you think you will be bored in retirement then you basically must have no life outside of work. What a sad state of affairs. You should work to live, not live to work. Work should be a means to an end and not an end in itself.
Investments are the roots of financial security; the deeper they grow, the stronger your future will be. By investing you have plan for a good retirement. With my adviser, I’ve cultivated deep investment roots, strengthening my financial security for the future
Please educate me. I am so much interested in investing but i don't want to make mistakes and loose my money. Can you pls connect me with your Adviser?
Thanks for sharing. I curiously searched the web with his full name and his website popped up immediately. I looked through his credentials very impressive and i will send him an email right now
I'm semi-retired at age 60 earning $600 a month. I'll need to earn $600+ a month forever. Hubby's Social Security is $1550 a mo. 3 hrs round trip to the closest town where I work 4 hrs each week then grocery shop afterwards. Our town is small: 2 churches, 2 seasonal Cafe's, 2 resorts, Air B&B's, rivers/lakes, campgrounds, volunteer fire dept, post office & museum. Medicaid pays our $25 a month Retiree Indemnity premiums which covers 60% of medical, 2k a yr dental, vision, & $500 a mo. drugs. Tiny co-pays. Medicaid covers his $185 Part B too. We grow food, use solar for our cabin & car most of the year. $175 a month Prop tax for our off-grid cabin. A good life
I feel like if i had more money 10 years ago that would have been the perfect time. but then if i had even more money 20 years ago that would have been pretty nice, too.
Well at 67+ I'm still working overseas with a just 1 more year mindset. That needs to stop but I didn't plan for retirement until recently. I'm waiting for a local (to my home) financial advisor to contact me but maybe putting on my intro sheet that I'm just looking for someone to run the numbers to see if I should hold another or retire now. Crickets so far. Kinda like going to visit the finance officer at a car dealership and telling them I'm paying cash. They want to know that they'll be making money off your account and managing my portfolio. Can't go back in time, I hope others are smarter than I've been. I did visit your link for NAPFA and selected on of the 3 in the area. I guess they have many clients but not sure how long I should wait for a reply. Oddly enough my goal in retirement is working in my shop to restore my collection of older cars/trucks, hit the gym and to learn music. Travel comes in there somewhere. Work is way too easy and I just sit at a desk with periodic checks and then a 60 mile commute each way. The job isn't the issue, not being at my house is. But I need more tools to work in my shop...one more year.
I’m 65 and ready to retire my wife has already retired and is drawing her teacher retirement and social security. But she’s working harder now than she’s ever worked in her life she gets up at 5:30 in the morning and drives 45 minutes one way to watch our 1 year old grandson and our 3 year old granddaughter for nine hours a day five days a week for free. She wants me to retire to help her, that’s not my idea of retirement it is MUCH harder and more stressful than going to work. So I’m still working because I don’t have the energy to retire financially we’re great am I wrong for not retiring,It’s really causing a problem between us. I love our grandchildren very much. I’m damed if I do and damed if I don’t. Any advice on how to handle this.
$1.5M total investment wealth (401K, IRA, and brokerage accounts) not counting paid off home. 58 yrs old and I am ready to retire. In tech field with layoffs likley due, I am planning to volunteer to take a layoff this spring.
many early retirees pay off their mortgages before retiring early because pre-Medicare expenses replace the mortgage as their biggest recurring expense, Azul.
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Diversify your holdings across several asset types to reduce risk rather than putting all of your eggs in one basket. If you don't know a lot about finances, speak with a financial expert.
Opting for an investment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2023
My CFA Carol Vivian Constable 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..
If you have interests outside of work 63 is too late. Not saving enough may make working until 63 necessary. Taking care of our health is obviously something we do not do regardless of what age we become financially free from a job
Was there a reason 63 was the magic age, or is it just the average? sorry if I missed the reason. I plan on retiring in four months at 62 because I can and I am burned out after 41 years in medical imaging. The right time, in my opinion, is when you feel ready and are able, not because you reach a certain age.
What we all need to understand is that prior to the second half of the 20th century there was no concept of “retirement” anywhere in human history. Germany tried a government pension for old people for a few years 4:24 but World War One ended that experiment. Prior to the industrial revolution 95% of humans lived an agrarian lifestyle and had life expectancy of about 45-50 years. They didn’t retire and collect pensions and Social Security. They didn’t buy a second home in a warm weather location and take two week long river cruises through Europe. They didn’t play golf and pickle ball four times a week. They didn’t take statins and diabetes drugs to live 20 years longer than Mother Nature intended. This experiment is going to take a hundred years to figure out.
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
Finding financial advisors like Sharon Ann Meny who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Boredom is for people with a lack of imagination. There is so much to learn that I get excited just thinking about it. Thank you for your excellent presentations Azul. Keep up the great work. Dave from Canada
Dude . When I hear people say _ I don't want to just sit around and wait to die - or similar I think - You've lived 50 , 60 , 70 ?? Years and you have NO ideas on what you want to do ????
@@AAWGASHTADS indeed it's surprising. What's even more surprising is how those same people insist that if they have no idea what they will do in retirement, insist that no-one else has legitimate ideas about their own retirement either.. I'm retiring at 56, and I have spent countless conversations with people in the past couple of years where they insist that I will not have enough to do, even though I keep talking for the past few years how excited I am to get back to practicing and playing jazz piano full-time. I pretty much stopped talking about it with most people, because their minds just entirely dismiss it as a legitimate reality.
Best time to retire is yesterday
Yeah bro
if you have a plan of what to do. Azul is absolutely correct - the adjustment from 40 hrs to 0 is like slamming on the breaks in your car and can really mess you up if you dont know what's next....
yesterday I didn't have enough money to retire.
Since that's not possible ASAP is good
@@gottafly30 Not knowing what's next is the joy of a young man being injected into an old one
If you can afford to retire, then age doesn't matter. If you can not afford to retire, then you have keep working. Pretty simple, I think.
It's the question of what really IS " Afford " that keeps the discussion going . Time vs Money
I was working until the age of 64 but had to stop during Covid as I had to shield. I have never returned to work and I'll be 68 next month. I am never bored. I learn languages, read extensively, travel, do lots of walking and listening to music. No tv. Just internet. For a bit of extra cash, I may do some stuff online.
That’s great ❤
I worked for 40 years, with 30 of those at the vice president level in the IT industry. 💻📈 While it didn’t make me rich, it gave me enough to feel semi-secure. I kept working until the age of 65, when no one would hire me anymore. Was it surprising? Maybe not. I would’ve gladly worked until 70😊
I haven’t worked the past five years, and while some might call it retirement, I wouldn’t. Instead, I’ve been diving into serious hobbies🌍🗣 and flipping properties 🏡🔨. It keeps me busy, challenged, and fulfilled! ✨
IMHO the perfect time to retire is when you hate your job enough and can afford to walk away from it.
and there it is.
happier sooner than later.
''we die sooner than we expect.''
Yep - I’ve got the first part down, just working on the second part 😅
what if you don't hate your job and can afford to walk away?
Worked for me.
@@bpang88 That's kind of where I was at, I retired at 66+, it was just time to call it quits. Although I liked my job my career spanned 40 years in engineering, the commute, the schedule, it was getting tougher to roll out of bed every morning, enough was enough. I've been retired for 6 years now and I look forward to every day.
I understood it was important to have debt paid off entering retirement. I did with all except a small portion of my home, but three months into retirement I decided paying off the house needed to happen. So spouse and I scraped it together and paid it all off.
Three years later, very happy I did.
It's nice making one payment a year instead of twelve, isn't it?
@@ghanna7787what’s that for?
Well made points backed by reliable statistics makes this a sterling video. Retired at 58 (I had planned but this early was a surprise, a wonderful one.) and now 81, I am even more happy. Yes, media stands out as mine is RUclips. From this I learn all kinds of information and then pursue some of it later. Advice: retire as soon as you are able.
He says age 63 is the perfect age to retire at 3 minutes in. Hate teasers, but they did pull me in here.
great, I wasn't able to find the actual data point for this video with all the unnecessary rambling... was going to say get to the point man
I retired at 63. Yup, perfect for me
@@sbkpilot1 He's not doing these for Free - we're just getting them for Free
63 worked for me, but because of circumstances, not because of the number.
Thank you
I aged out of my career at 60. I wasn’t ready to retire and would never had made that choice. Yet here I am at 64, best thing that ever happened to me. I accepted the situation and decided to roll with it and not seek something else. It’s been great and I’ve never been happier. Sometimes retirement happens.
Same here, 58. Forced or mini retirement. We’ll see what happens in the future. At least I’m financial secure where I don’t have to go back to work unless I want to.
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
Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
this is huge! mind if I look up the advisor 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
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
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 am doing it at 65 next year. I am debt free with 700,000 in my 401k. $5600 a month in pension without using 401k money. Waiting until 67 to get SS which is approximately $2400 so that would be $8000 without using 401k. Hope it all works out good.
That's solid
I'm 44 and can only hope to have that much by the time I'm 65, putting ~15xx/month in my Roth 401k but I still don't own a house.
Should work out fine..... just don't start a cocaine habit 😂
@@martinmccoy2735owning a house can also be a curse. You are now free to move, travel or find a new place. The cost of owning my own home is quite high in terms of opportunity cost. I’m paying close to $1500 a month in taxes, insurance and utilities. My house is paid for, but if I had that much money in the bank, then I can easily invest that and just from the investment money live in many places from just the investment income. On the other hand, I also have a homebase.
brother, you should retire yesterday. not after breakfast, not tomorrow....yesterday!
Market researcher here. You did a master job presenting those data tables!
It's interesting that you gloss right over how much pre-retirees look forward to travelling, versus how much retirees look forward to or actually engage in travel. I think a lot of retirement advisers push travel as an expensive activity retirees should pursue, in order to get those folks to save more for retirement. In reality, most people travel a bit and realize it's kind of an empty activity, because you aren't really doing anything productive, you're just going to see places where other people live and work. The biggest single challenge in early retirement is the cost of health care, because of how much it has gone up, and continues to go up.
For me real estate taxes , home insurance, vehicle insurance and health insurance have exceeded the rate of inflation 2-3 fold. That’s a real concern. Over 30 years my real estate tax has gone up 7x. I’ll be paying 100000 30 years from now! Yikes
@@petervanheest7748 - That means your property value has increased a lot and/or you live in a place with very high property taxes. Both of those can be addressed by selling and moving to another location?
@ that is true, but the real estate taxes have far exceeded the price appreciation. Town management has been horrendous. We will be moving relatively soon, but other factors are keeping us here for the time being. But real estate taxes will be a burden for seniors who have not saved well enough for retirement.
I'm not waiting any longer than I have to. I will be retiring at 51 or 52. I'm on the home stretch and I'm only in my mid 40's. I'm thankful I have this ability, but I made this happen. I'm not lucky, I made it happen. I wasn't handed a damn thing in my life, I earned every bit of it.
The perfect age is different for everyone
That's right. I'd rather keep working my interesting job with its paid travel, and put my hard working wife into early retirement. Meanwhile, I can dial back my workload and really enjoy my paid vacations until I'm 65.
Yep. Most of the things I outsourced 10, 15 years ago, I outsourced them for convenience or having more productive things to do with my time (ie, writing software as opposed to growing my own food). As I approach a time in my life that health is an issue, I find more and more of my need for outsourcing is less about convenience or not having time but from a viee point of necessity.
I think that proper time to retire is a factor of age and financial position. That definitely requires planning early in working career. 😊
Correct . A Target Age is still good though instead of the old 65 , or when my SS maxes at 70 , etc
I cannot imagine being bored in retirement. There's always something to do or learn. Last night after watching a TV news show, I looked up a turkey meatloaf recipe online and made it for dinner for tonight.
Great charts Azul. Not working and watching TV. Classic. I'm newly retired and working through post op shoulder surgery plus it's winter. Once spring comes I should be raring and ready to go!
As a retiree I totally agree, it's important to work on financial and physical health before you retire. In my early 40s I told myself I would retire in my mid-fifties. I then worked hard, typically waking up early, going for a run, then heading into the office and throwing myself into the job 100%. I spent a lot of time travelling with work all over the world (not always as nice as it sounds!) and kept up the exercise using hotel gyms early am before meetings etc. I did this for 15 years and it was tough. But then I was financially able to retire as I had planned and I'm now able to make the most of retirement having good health (fingers crossed so far!). Still keeping up the exercise, as long as I'm able to.
May I ask what age you retired Steve ?
I plan to retire at the end of 2025 at 62 after 36 years in Telecom as a sales engineer. My wife will retire in May 2026 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 couple with the alarming recession and CPI report
I feel your pain mate, as a fellow retiree, 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 $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
My advice: for newbies to grow financially this year, invest. Saving is good, but investing elevates your finances. Why newbie make huge losses on trade is because investing without proper guidance can lead to mistakes and losses. that will stop you from trading, this has been one of the biggest problem to new traders, I've learned this from my own experience
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
Her name is Annette Christine Conte can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
I wonder how many people substantially improve their health and physical shape after they retire - because they have plenty of time to exercise ? Or people mostly stick to whatever exercise routine they had established previously?
I'm 55 and I'm pretty much retired, I've reduced my work schedule to 25% and next year I'm retiring entirely. Looking forward to it! It's remarkable how difficult it is becoming to concentrate on getting the work done - I even counseled with a psychologist about it. She said it's a common scenario, where people begin to detach from identifying with their work in their last years before retirement, and the mind has a difficult time focusing on it.
The best time to retire is the minute that you are able to, and *want* to. 👍
LOL watching more TV is totally on my retirement TODO list. So many great shows on all these streaming networks never enough time!
Working adults on average spiend about 21 hours per week watching TV. At retirement, you lose about 45 hours week scheduled for the job and commute. Trading less than half of those job hours for additional TV time does not sound excessive. Especially since you now might have multiple hours freed up in other areas.
A job is where you're told what to do every day. I can figure out what to do on my own thank you. Retire at or before 50 so you have the mental flexibility to deal with it. I can not imagine waiting until 63. It seems insane. If you hate Saturdays, don't retire because it's six Saturdays and a Sunday every week.
A perfect age to retire in an imperfect world is a speculation !!
Retiring March 21st. I am looking forward to a lot of what you had listed. I found they did not ask about 'projects' around the house. I know those will take up some time!
Excellent insights Azul. Enjoy your retirement!
Atleast 1 yr before retiring, live on the income you think you will need in retirement and sew how that works for you. Main thing is being debt free and figuring out the difference between a want and a need
I'm 54 and planning to retire at 60. I have a really good work pension. I'm hoping to travel, spending time with my partner,do some courses, coffee afternoons,reading and yes tv.
I think “watch movies/TV” includes spending time watching Azul videos. 😅
Your Home mortgage - not All mortgages if you have rental properties . I know a guy who has a couple rental properties and he's going to work until 70 to have them all paid off . He's falling apart physically - operation after operation in the meantime . Sad to watch
...when kids graduate college and house is paid off.
AZUL. totally agree with this but am not in the "pay your mortgage off" camp. It is much more important to keep the liquidity invested than locking it in home equity, which is very difficult to extract, particularly when retired with no income. plus you are paying a low rate mortgage with higher return investments. IF clients need the piece of mind, we place the payoff in a seperate investment account so they know its there to take care of the mortgage in something happens. keeping this money invested rather than in equity has saved several families stress and hassle. I have never had any tap the "mortgage fund" once in place BTW.
I think for a lot of older folks, the paid off mortage gives them a sense of accomplishment as well as peace of mind, even if it's not the optimum decision financially. Your point is valid, though. You can't eat your house.
Great discussions. In my Household they say I am too Young to retire. I have been on a soft retirement since 4 years and expect to retire fully in 5 months. I am 51. I found that it is often forgotten, the work load you have had. I worked for 25 Years within hardcore jobs, whereof 15 years as self employed. When I do my hours and sum up, I have worked more than 40 years in total. I just don’t have more energy to put into more work, but I do have energy to put into efforts for family and friends. Time which in the past was difficult to provide. Today retirement planning does not consider over hours and mind fatigue.
Once you get into your 50's there is a ticking time bomb of getting let go because of your age. Sadly, it went off for me but I was financially prepared because I saw it happen to others.
I just turned 49 and looking forward to retiring around 57. From all the comments, it seems like if it wasn’t for medical coverage, we’d all be retiring earlier than 62.:)
I'm retired. Everyone that I talk to did not retire early because of health insurance costs. We had to get Medicare coverage before retiring.
ACA insurance can help with insurance until 65. The key is to have enough savings to live off until SS.
👌👌👌I agree, 63 or 65. Even if you need to live in a cardboard box. 🤷🏻♂️🤷🏻♂️🤷🏻♂️
The whole point of wealth for me is freedom. My magic number in my mind is 5 million needed at 65 to not worry about anything. Am i better off investing a good portion of my income into stocks or real estate to achieve this goal?
Varied sources of income is wise and especially living within your means. My net worth is $2.6M and I can pay my bills with no stress, but I don't live like I have that. I have no complaints.
Absolutely, having a solid plan is crucial. My portfolio has doubled since early last year. My market analyst and I are working towards a seven-figure goal, though it might take until Q2 2025.
I'm a young dad and I'm really glad to hear your story - it inspires me! I'm still working, but I'm counting down the days until I can enjoy my retirement Years. Can you please share your tips? What's the key to achieving this milestone and making the most of your retirement years? Any tips would be greatly appreciated!
Maureen Finn Austin 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
Bitcoin
Still working at 67. Love working. Have enough to retire but still making a lot. Still go on at least 2major trips a year . Still learning. To each his/her own.
I think it depends if your job is physical or not. an accountant could work until they're old vs. someone that has a job that requires a lot of lifting,bending,.
I assume watching movies/tv includes RUclips, FB, various apps. Including learning, exploring...nothing wrong with that.
I started saving early on and increased my 401K contribution when I got a raise. It made it easy to walk away at 59. I have no regrets about retiring early.
The data supports that it's important to retire TO something, not FROM something. Purpose in retirement is critical.
Depending on your situation, you will determine your unique retirement age.
You need to visit Animal Aware just outside of Antigua. They rescue dogs from the streets of Guatemala.
Azul, you are essentially working by doing these videos, which validates my view that we are happiest when we are engaged in an activity that we enjoy. Of course if one has a job that is a pain, then retirement makes sense.
I just had a check in with a younger supervisor. She asked how long I plan on working. I'm 54. Seriously? She explained that it's about future staffing. I get it, but wow. It makes me paranoid. Maybe I shouldn't have said anything, but I said I would be around 5-6 more years. Hopefully I can be done by 58.
This may be a genuine check and one that is necessary to ensure continuity. I would not read more to it than what you do is important and some people are possibly concerned of losing you.
Everyone has a unique set of circumstances when it comes to retirement. In my case I had been thinking about retiring for a few years but never committed to any specific date. In the middle of 2012 I had a heart attack at age 61. Fortunately I survived without much damage but it really caused me to start seriously thinking about my future.
I retired at the end of the year - a month before my 62nd birthday - and never looked back. I could have worked a bit longer but didn't like betting against myself. My wife and I had always lived well but conservatively so money was not an issue. I was also fortunate to be able to retire with a pension.
It's easy to quit your job if you hate it but if you can see yourself retiring after the best day you ever had at your job then you know it's time to go.
I was forced to retire earlier than I had planned by a person who got promoted to a supervisory position over me who was just a horrible manager. I was initially angry about this but, when I realized that my financial position allowed me to be comfortable in retirement, I was thankful for the push. The healthy time I gained was and absolute treasure.
I don't believe there is a perfect age to retire. You should retire when you can afford to retire and not before.
Working towards 53, I’m 48 honestly I’m open to anytime between now and then
Nobody is asking the right questions. I'm worried about retirement and want to maximize my savings. I've tried various investments that didn't work out as I hoped, and now I'm unsure whether to invest in the stock market or index funds. Any recommendations would be appreciated.
The stock market is great. however, investing without proper guidance can lead to mistakes and losses. I've learned this from experience. If you're new or short on time, it's wise to seek expert advice, which helped me navigate the market's ups and downs.
Agreed, people often underestimate the role of financial advisors. Over 30 years of data reveal that those who work with advisors typically earn more than those who do it alone. I've been fortunate to work with one for 5 years now, resulting in a million portfolio.
Could you kindly elaborate on the advisor's background and qualifications?
I just looked up her website on google and I would say she really has an impressive background in investing. I have sent her an email hope she gets back to me soon. Thanks
scammer. you cant even be original
I think it's a very fortunate few who can consider their options for retirement. I think that most people retire when they *can*--or when they HAVE to.
As far as loneliness is concerned, I find that a *little bit* of being around other people goes a LONG way! 😆
I would retire TODAY if Social Security would pay me the $5,000/month my employer is paying me. But SS only wants to give me $2,200/month. I'm 65. So...if I retire now...I'd take a $2,800/month hit on my monthly finances.
2:45 63 might be too old to retire
5:00 Loneliness in retirement
7:55 Watching too much TV
The best time to retire is age 25 in mommies basement.
Comon man😂😂
Thanks for indexing your videos
I don't want to retire because I'm an academic and want the stimulation. I'll go part time after age 70.
I'm also an academic and I plan to retire at 62. I've had enough of the irritating stuff of academia and will find other things stimulating (i.e. hobbies such as guitar playing and genealogy).
I planned on retiring at 67, but lately decided to do it right now. I have yet to reach 65.
I can only speak for myself (obviously) but, the ONLY thing I miss of my high paying (and highly stressful) job, is the income (which I don't need).... I miss NOTHING else....
There is no perfect age to retire.
I’m 63 with a substantial nest egg and two pensions (one is military). But I also have 13 and 15 year old sons from my second marriage. I enjoy my job and my company doesn’t seem to want me to leave, so Im thinking of retiring when the youngest son finishes high school. Then my wife and I should be freer to travel, and we might have grandkids from my oldest son (from first marriage). Im not too concerned about health also. Most people think Im 10 years younger than 63.
17 months till I’m 63 and I’m ready to start retirement now 😢
I am 52 and if my employer would offer me a severance package I would retire tomorrow! But I wont retire without it
Great episode!!
Isn't that up to each person and how they feel
You can retire when you've prepared to retire. If you are just going to work in the yard and such low cost endeavors, you can retire much earlier than a person who wants to do expensive stuff. IMO, if you've saved enough to retire and use SS as lunch money, you're ready
This was super helpful - thank you! love your pragmatic approach.
Every case is different.
In the 50's my late dad worked a modest job, mom was a housewife, and they lived a nice lifestyle including owning a home. Nowadays both I and my partner work and can barely afford to make ends meet. Luckily, I've just received an inheritance of $500,000 and concerned how best to use money. Should I pay mortgage since I’m still working, or do I invest in stocks instead for better return on investment?
Depending on your risk tolerance, you could invest some, maybe try $50k at first in a high yield income ETF. This could give you cash flow for as long as you keep the investment. personally, I like FEPI, SVOL, and NVDY.
You should do a mix of both. Seek the help of a financial advisor and a real estate broker. Use $100k to get yourself a decent rental property, may need a mortgage but keep the cost of the property low, and put the rest into stocks.
Imho, investing with the help of an advisor did the trick for me in barely 5 years. Retired with couple millions at 55. I worked hard everyday as a teacher for 22 years, and my salary was over 100k annually, enough to get me fully invested.
@@andykuzman bravo! retired in my 40s after inheriting money from a childless relative, traveled overseas and found a girl almost my age, happily married but only issue is how to grow and preserve our wealth... think your advisor can be of help?
Can't divulge much, I take guidance from an independent financial advisor 'Karen Lynne Chess' most likely, the internet is where to find her basic info, simply do your research.
Forced retirement is as common as choosing retirement, in my experience. I know a lot of professional people who have been sidelined by not being able to find any work in their profession. Professionals that work on the internet can stay active a lot longer than folks who's work requires their physical presence and output.
At 39, I’m unsure about what’s next for me. I’ve saved $425,000 with the goal of retiring by 50, plus $10,000 in a health savings account and a property that might earn me $200,000. What are some effective ways to create passive income with these assets?
It’s reasonable to consider getting a financial advisor now, but delaying retirement might be a wiser choice
Is it time for a career shift or should I consolidate my investments into a single account? If I go for the latter, how do I do it right, and what could be the drawbacks? Plus, with a $200K property sale on the horizon, should I combine my investments or diversify them across different markets?
These are crucial questions for a financial planner. I met mine at a NYSE summit, and with her help, my wife and I reallocated our $1.7M portfolio between a traditional IRA and a brokerage account. She’s been making investments with our approval and has helped us recover twice our losses. We’re holding steady and carefully navigating more markets
That is really great, my portfolio is not doing well. Who is this professional you work with?
June Renae Matthysse. Her performance is consistently impressive, and she’s a real name to know in the industry. Check her out
Best time to retire for someone with decent nest egg but without dependents is ASAP.
Thank you for your ideas! 💡
Greetings from Vienna 🇦🇹 👋🏻😃
3 videos a day is wild.
If you think you will be bored in retirement then you basically must have no life outside of work. What a sad state of affairs. You should work to live, not live to work. Work should be a means to an end and not an end in itself.
What’s the median vs average? You mentioned average is 63.
I'm watching TV and it's pretty nice!
LOL!
Investments are the roots of financial security; the deeper they grow, the stronger your future will be. By investing you have plan for a good retirement. With my adviser, I’ve cultivated deep investment roots, strengthening my financial security for the future
Please educate me. I am so much interested in investing but i don't want to make mistakes and loose my money. Can you pls connect me with your Adviser?
My financial adviser is Gabriel Alberto William , he is not just a broker, he is a financial adviser that gives advice on any financial matters
Thanks for sharing. I curiously searched the web with his full name and his website popped up immediately. I looked through his credentials very impressive and i will send him an email right now
I watch a lot of TV, ie RUclips!! I’m not retired. It’s my way of chilling out after work!
Work keeps you young remember that
I'm semi-retired at age 60 earning $600 a month. I'll need to earn $600+ a month forever. Hubby's Social Security is $1550 a mo. 3 hrs round trip to the closest town where I work 4 hrs each week then grocery shop afterwards. Our town is small: 2 churches, 2 seasonal Cafe's, 2 resorts, Air B&B's, rivers/lakes, campgrounds, volunteer fire dept, post office & museum. Medicaid pays our $25 a month Retiree Indemnity premiums which covers 60% of medical, 2k a yr dental, vision, & $500 a mo. drugs. Tiny co-pays. Medicaid covers his $185 Part B too. We grow food, use solar for our cabin & car most of the year. $175 a month Prop tax for our off-grid cabin. A good life
I feel like if i had more money 10 years ago that would have been the perfect time.
but then if i had even more money 20 years ago that would have been pretty nice, too.
Well at 67+ I'm still working overseas with a just 1 more year mindset. That needs to stop but I didn't plan for retirement until recently. I'm waiting for a local (to my home) financial advisor to contact me but maybe putting on my intro sheet that I'm just looking for someone to run the numbers to see if I should hold another or retire now. Crickets so far. Kinda like going to visit the finance officer at a car dealership and telling them I'm paying cash. They want to know that they'll be making money off your account and managing my portfolio. Can't go back in time, I hope others are smarter than I've been. I did visit your link for NAPFA and selected on of the 3 in the area. I guess they have many clients but not sure how long I should wait for a reply. Oddly enough my goal in retirement is working in my shop to restore my collection of older cars/trucks, hit the gym and to learn music. Travel comes in there somewhere. Work is way too easy and I just sit at a desk with periodic checks and then a 60 mile commute each way. The job isn't the issue, not being at my house is. But I need more tools to work in my shop...one more year.
I’m 65 and ready to retire my wife has already retired and is drawing her teacher retirement and social security. But she’s working harder now than she’s ever worked in her life she gets up at 5:30 in the morning and drives 45 minutes one way to watch our 1 year old grandson and our 3 year old granddaughter for nine hours a day five days a week for free. She wants me to retire to help her, that’s not my idea of retirement it is MUCH harder and more stressful than going to work. So I’m still working because I don’t have the energy to retire financially we’re great am I wrong for not retiring,It’s really causing a problem between us. I love our grandchildren very much. I’m damed if I do and damed if I don’t. Any advice on how to handle this.
I'm 60 now retired from my full tile job at 57. I work about 20 hrs a week now just because I want to.
The day you start work. 😊
$1.5M total investment wealth (401K, IRA, and brokerage accounts) not counting paid off home. 58 yrs old and I am ready to retire. In tech field with layoffs likley due, I am planning to volunteer to take a layoff this spring.
I have to work 19 more months. Can hardly wait. 😊😊😊😊
Ps, I've been travelling, it ain't no picnic.
Traveling is one of my favorite activities. But, it does take a lot of energy, focus and time. As you say ... it ain't no picnic! 🧺 Azul
many early retirees pay off their mortgages before retiring early because pre-Medicare expenses replace the mortgage as their biggest recurring expense, Azul.
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Diversify your holdings across several asset types to reduce risk rather than putting all of your eggs in one basket. If you don't know a lot about finances, speak with a financial expert.
Opting for an investment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2023
Oh I've heard similar things about hiring an advisor. It's hard to choose one that's very good though. Could you make some useful recommendations?
My CFA Carol Vivian Constable 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..
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.
Retiring as soon as possible is the answer. If you’re 40, 50, 60. Doesn’t matter.
If you have interests outside of work 63 is too late. Not saving enough may make working until 63 necessary. Taking care of our health is obviously something we do not do regardless of what age we become financially free from a job
Not having enough money?? What about having too much money and not enough life!!
Was there a reason 63 was the magic age, or is it just the average? sorry if I missed the reason. I plan on retiring in four months at 62 because I can and I am burned out after 41 years in medical imaging. The right time, in my opinion, is when you feel ready and are able, not because you reach a certain age.
What we all need to understand is that prior to the second half of the 20th century there was no concept of “retirement” anywhere in human history. Germany tried a government pension for old people for a few years 4:24 but World War One ended that experiment. Prior to the industrial revolution 95% of humans lived an agrarian lifestyle and had life expectancy of about 45-50 years. They didn’t retire and collect pensions and Social Security. They didn’t buy a second home in a warm weather location and take two week long river cruises through Europe. They didn’t play golf and pickle ball four times a week. They didn’t take statins and diabetes drugs to live 20 years longer than Mother Nature intended. This experiment is going to take a hundred years to figure out.
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
Mind if I ask you to recommend this particular coach you using their service?
Finding financial advisors like Sharon Ann Meny who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
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.
How is no one talking about this book The Censored Guide to Wealth on Bovolorus is something else
Yay, Guatemala! ❤