I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.
Talking about a financial market specialist, do you consider anyone worthy of recommendations? I have about 100k to test the waters now that large cap stocks are at a discount... Thanks
After a short stint in the military in my 20’s, I decided to return to the reserves after 9/11 at age 41. It was hard, and some people thought I was crazy. Stayed for 19 years and retired at age 60 with a military pension. Best decision I ever made; I will try to delay SS until age 67.
Wish I knew I could got pension from reserves. I did 4 years in AirForce active. Thought had to be active to get pension. When did they start pensions from reserves ?
@@cliffdariff74 If you have 20 years of Reserve service, you qualify for a Reserve pension at age 60. The reserves for all branches uses a points system and the amount of your pension is calculated based on those points. The more days you spend on duty in the reserves, the more points you accumulate. The pension age can be further reduced by any time served in a combat zone, not to go below age 55.
@@cliffdariff74it has been in effect for a long time. The National Guard and Reserves have a retirement. You must complete 20 years in service. It is not as good as the full time retirement at the same pay-grade but it is not bad. You cannot draw it until age 60. You draw your full time pension once you reach 20 years. That is better for sure.
You joined at 41 thats crazy so in the first 3 years did you have your doubts? Did you invest in a index fund for 19 years? How often were you traveling the world and what was your leisure time?
Teresa Ghilarducci is masterful. Love listening to her presentations. And the icing on top is, she actually produces meaningful policy insights/recommendations. She's a great social scientist.
This economist is extremely intelligent in conveying her opinion so that ordinary working Americans can understand the retirement crisis that is happening currently. The cost of living is so high now that many americans are unable to fully retire. Many 65+ americans are still working to make ends meet. Retirement continues to elude working class americans, so much for the so called American dream of full retirement. Retire to a Spartan minimalist lifestlye just to survive. The American Dream is a big Mirage.
We started to use Gen AI at my company. They are encouraging us to use it but I find that doing the work myself is easier. Everyone knows that whatever Gen AI spits out, you have to double check otherwise you are culpable. AI, for now, adds to the workload. On another note, if we had a better healthcare system in America, people can retire earlier. The healthcare issue is why people need to work until Medicare age.
Coming from a Mormon family I will tell you retirement is not a thing. Family members work and contribute as long as they can. The primary thing is everyone has a work ethic.
I believe what this guest lady is saying. Yes, it’s true we are living longer, but not necessarily healthier. Look how quickly the big C killed off so many people & older ppl cannot keep up with all this new technology that is going on & that is required. A lot of young people today has gone pass multi tasking!! Too much on the brain.
Such an informative interview/discussion 👏. Love watching smart, intelligent, articulate and elegant people inform us on such an important topic. Thank you. 🙏
So much for the so called American Dream of full retirement. Retire to a Spartan and minimalistic lifestyle just to make ends meet. Work till you expire is definitely a bleak future in America.
I take exception to the idea (re: Ms. Mack's statements) that "it's not affordable...companies can't afford..."--yes, they can except it doesn't contribute to the controlling stockholder's increasing profits. Not the idea of profit, but rather increasing rates of profit. Let's be honest about this. Very few of the controlling interests of any given company, actually built the company themselves, they're just the most recent greedy ones in control. And yes--it IS greed.
Just wondering if you could put together a goal for most prospective retirees that includes not just target date funds, but pensions, annuities, social security, stock portfolios, real estate/ rental properties, long term care insurance, strategies for holding on to your assets (home) while still utilizing government programs, etc...Also, as mentioned in the video when is the optimal time to draw on SS. Sounds like 70 for the most dollars, but does the sociology support this. 70 the maximum benefit in terms of dollar amount, but it also misses some of the most active years....Maybe just thoughts on a coordinated plan (to supplement/ confirm/ reinforce) what a financial advisor might tell you for a fee. 401K's and IRA's wont be enough, and I see a catastrophe for most people in the distance. Even people with millions may be bleed to death by long term care costs for loved ones. As for annuities, I just don't get it. I can invest funds and get a better return while paying less fees. What are the advantages of annuities? It seems to me that with a $1,000,000 portfolio you can just put the money in a CD, or bond and collect the interest, which can supplement other sources of income.
Agreed and the people either elected or employed to create and or guide policy to counter said crises over the short or long term don't appear to be doing their jobs very well. Sadly, Americans are great at spending and less so when saving.
When I was a kid in the 80s I remember all the mills and manufacturing leaving NY and companies abandoning pensions for this amazing thing the 401k so the private sector could score a huge winfall with assets under management and huge tax breaks for highly compensated individuals all wrapped in the typical guise of "you can do much better managing your own money the returns will be so much higher" WHAT A CROCK of BS. Work longer? If you're lucky enough to be able to afford to quit work at 62 and you have a little discretionary income to pursue your hobbies and or travel you maybe have 18 years before your body makes you a prisoner in your own home.
Good interview!!! Finally thinking about the 90%. Even though I am 10% I often think about the 90% will not keep a stable society if we don't take care of them.
@@jamesmorris913In theory that is correct. In reality it is not. You never know where your charity spent the money. They are not for profit so any excessive they can pay out big to executives salary travel or bonus. Those are 10%
I am a social security participant on the contribution side (self employment payroll taxes). I am NOT a fan of the program. It needs to be trimmed, big time!
So you are proposing privatize social security deposit? And forced 401K (equivalent) savings out of their paycheck? It should have a mandatory base level and optional level on top of it. Government pension uses government funds tax so they don't care running behind. If they can balance there why can't they balance social security?
They don't want to save social security. They want to privatize it and make even more money off your savings. This interview could almost be considered propaganda for and by BlackRock.
SS is given to every tom, dick and harry . In the for of people who worked sporadically, worked in low paying jobs, and people who may have never worked and claim a disability. State job pensions are for only the people who worked for the state or fed . And many state pensions are invested in something hopefully growing . SS is not invested , but it sure gets spent upfront for lots of stuff even outside of its intended use.
I can’t recall the last time I found a wealth track so misleading. Typically I love the show. However, this lady has an agenda, she doesn’t want to even talk about the fact that there are many people who are able to work longer and therefore have a satisfying financial retirement. She doesn’t address the fact that there are people who have saved saved diligently. She’s ignores any positives
By design, inequality is expanding in America. Stock markets are bubbled primarily through ten top stocks and massive buybacks enabled by our legislation. In 1982 stock buybacks were illegal until that was reversed by congress. Passive 401k ETF inflows move into a few concentrated top tech stocks coupled with a $1 Trillion dollars of stock buybacks have pushed indexes up. Stock buybacks need a disincentive or limitation (through legislation). They enable the top corporate executive to extract the cream off the top after the stock buybacks increase stock values.
@john nothing to do with stock market, everything to see with the takers, with the taxers, with pension plan for political, municipal, school teachers, policeman, firefighter, all looters.civil servant looters sink the private system.
Corporate greed, the companies expect to increase their profits year on year, is this really sustainable. Wealthier and the higher payed need to pay some more in taxes to fund public services
she is wrong at the very thesis - life expectancy did not change much over the past 50 years. The fact that to save to retirement - USA was always garbage with Canada, that's why you want to go to Germany and get your guaranteed pension at retirement . My brother's wife gets 2000 euro a month working as ave engineer in Germany, in Canada ave engineer get around 300 cad in usa similar. As a doctor in Germany my brother gets on top of his pay 6000 euro in pension a month. Also, as a major power USA is finished, this year 2024 is a massive recession of global proportions.
If you need healthcare and become very sick or need a major surgery, there is no comparable country you'd rather be in than the U.S. Inflation has started to create the income inequality imo and dietary lifestyle affecting the average American's health. Americans may live just as long, but they are living into older years much more diseased.
@@eliza5960 For one she has written a book with a former Blackrock executive. This firm would benefit from privatizing Social Security by claiming it can't be sustained. How often did you hear both host and guest claim Social Security can't be sustained as though it is a fact? It isn't a fact but will be if Blackrock and firms like it get their wish.
I think she is way off base. I don't want an annuity. Or any other new program to "solve" a retirement " crisis" that doesn't exist. Please go away and quit trying to "help me".
![Avoiding Disastrous Mistakes: The Danger of Portfolio Volatility in Retirement [2019]](http://i.ytimg.com/vi/jbDn3BUYNLE/mqdefault.jpg)
I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.
Talking about a financial market specialist, do you consider anyone worthy of recommendations? I have about 100k to test the waters now that large cap stocks are at a discount... Thanks
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.
After a short stint in the military in my 20’s, I decided to return to the reserves after 9/11 at age 41. It was hard, and some people thought I was crazy. Stayed for 19 years and retired at age 60 with a military pension. Best decision I ever made; I will try to delay SS until age 67.
Wish I knew I could got pension from reserves. I did 4 years in AirForce active. Thought had to be active to get pension. When did they start pensions from reserves ?
@@cliffdariff74 If you have 20 years of Reserve service, you qualify for a Reserve pension at age 60. The reserves for all branches uses a points system and the amount of your pension is calculated based on those points. The more days you spend on duty in the reserves, the more points you accumulate. The pension age can be further reduced by any time served in a combat zone, not to go below age 55.
@@cliffdariff74it has been in effect for a long time. The National Guard and Reserves have a retirement. You must complete 20 years in service. It is not as good as the full time retirement at the same pay-grade but it is not bad. You cannot draw it until age 60. You draw your full time pension once you reach 20 years. That is better for sure.
You joined at 41 thats crazy so in the first 3 years did you have your doubts? Did you invest in a index fund for 19 years? How often were you traveling the world and what was your leisure time?
How often you got a chance to visit home? Why didnt you join the airforce reserves?
Teresa Ghilarducci is masterful. Love listening to her presentations. And the icing on top is, she actually produces meaningful policy insights/recommendations. She's a great social scientist.
This economist is extremely intelligent in conveying her opinion so that ordinary working Americans can understand the retirement crisis that is happening currently. The cost of living is so high now that many americans are unable to fully retire. Many 65+ americans are still working to make ends meet. Retirement continues to elude working class americans, so much for the so called American dream of full retirement. Retire to a Spartan minimalist lifestlye just to survive. The American Dream is a big Mirage.
We started to use Gen AI at my company. They are encouraging us to use it but I find that doing the work myself is easier. Everyone knows that whatever Gen AI spits out, you have to double check otherwise you are culpable. AI, for now, adds to the workload.
On another note, if we had a better healthcare system in America, people can retire earlier. The healthcare issue is why people need to work until Medicare age.
This woman is spot on in her thoughts.
Coming from a Mormon family I will tell you retirement is not a thing. Family members work and contribute as long as they can. The primary thing is everyone has a work ethic.
Elon is Gen x. Not a Boomer.
I believe what this guest lady is saying. Yes, it’s true we are living longer, but not necessarily healthier. Look how quickly the big C killed off so many people & older ppl cannot keep up with all this new technology that is going on & that is required. A lot of young people today has gone pass multi tasking!! Too much on the brain.
Having a TSP available to all worker would be amazing.
After studying Michael Jordan's and Babe Ruth's work history, I decided to retire while on top, not getting booted out the door! LOL.
😊😅
Such an informative interview/discussion 👏. Love watching smart, intelligent, articulate and elegant people inform us on such an important topic. Thank you. 🙏
work till you expire is definitely a solution. not a palatable one; not a smart one. solution nonetheless.
So much for the so called American Dream of full retirement. Retire to a Spartan and minimalistic lifestyle just to make ends meet. Work till you expire is definitely a bleak future in America.
I take exception to the idea (re: Ms. Mack's statements) that "it's not affordable...companies can't afford..."--yes, they can except it doesn't contribute to the controlling stockholder's increasing profits. Not the idea of profit, but rather increasing rates of profit. Let's be honest about this. Very few of the controlling interests of any given company, actually built the company themselves, they're just the most recent greedy ones in control. And yes--it IS greed.
Just wondering if you could put together a goal for most prospective retirees that includes not just target date funds, but pensions, annuities, social security, stock portfolios, real estate/ rental properties, long term care insurance, strategies for holding on to your assets (home) while still utilizing government programs, etc...Also, as mentioned in the video when is the optimal time to draw on SS. Sounds like 70 for the most dollars, but does the sociology support this. 70 the maximum benefit in terms of dollar amount, but it also misses some of the most active years....Maybe just thoughts on a coordinated plan (to supplement/ confirm/ reinforce) what a financial advisor might tell you for a fee. 401K's and IRA's wont be enough, and I see a catastrophe for most people in the distance. Even people with millions may be bleed to death by long term care costs for loved ones. As for annuities, I just don't get it. I can invest funds and get a better return while paying less fees. What are the advantages of annuities? It seems to me that with a $1,000,000 portfolio you can just put the money in a CD, or bond and collect the interest, which can supplement other sources of income.
It's shocking that an African-American owns Tesla, Space X, and X (Twitter). Elon Musk was born in Africa. A true African/American.
good info thank u
Retirement crisis. Housing crisis. Inflation crisis. Is everything in effing crisis now?
Doom and Gloom I hope the world doesn't end tomorrow😂😮😅😊
Yes this world has numerous crisis, however in another 100 years we all will leave this planet, so do the best you can everyday and try to be happy.
Agreed and the people either elected or employed to create and or guide policy to counter said crises over the short or long term don't appear to be doing their jobs very well. Sadly, Americans are great at spending and less so when saving.
Finally, we hear the real facts. Thanks Consuelo for bringing this to the forefront.
Get more help from employers? Good luck on that one
@@smartnfinal Not many Most start figuring out how to get rid of employees once they reach 50
Thanks!
When I was a kid in the 80s I remember all the mills and manufacturing leaving NY and companies abandoning pensions for this amazing thing the 401k so the private sector could score a huge winfall with assets under management and huge tax breaks for highly compensated individuals all wrapped in the typical guise of "you can do much better managing your own money the returns will be so much higher" WHAT A CROCK of BS. Work longer? If you're lucky enough to be able to afford to quit work at 62 and you have a little discretionary income to pursue your hobbies and or travel you maybe have 18 years before your body makes you a prisoner in your own home.
A different types of drums 🥁 🪘
Thank you Jack Bogle for the Index fund I won’t be homeless
They should specify that this is an old broadcast since she talks about legislation that may be long acted on
@1:35 really? compared to what? by how much? (6 months)
and the doubling in productivity over the last 50 years cannot compensate for that? why?
Good interview!!! Finally thinking about the 90%. Even though I am 10% I often think about the 90% will not keep a stable society if we don't take care of them.
You should give more to charities which help the underprivileged.
@@jamesmorris913In theory that is correct. In reality it is not. You never know where your charity spent the money. They are not for profit so any excessive they can pay out big to executives salary travel or bonus. Those are 10%
In Australia its called superannuation.
83M have nothiing. that's enough to block a highway
Stock buybacks went up in lieu of pensions.
Great report interesting insights thanks
Consuelo Mack is rooting for the big guys. Repugnant.
Great. The problem will be solved for the next generation, but not for the current crop.
I am a social security participant on the contribution side (self employment payroll taxes). I am NOT a fan of the program. It needs to be trimmed, big time!
Why is Teresa still working? It’s good for thee, but not for me. Hypocrite? She’s not far from her 70s. She has some nerve! Good grief.
Did you learn that childish comeback at summer camp? Grow up! I asked a fair question. Act like an adult. I will not reply to you again.
There won’t be enough money, when hyperinflation sets in.
So you are proposing privatize social security deposit? And forced 401K (equivalent) savings out of their paycheck? It should have a mandatory base level and optional level on top of it. Government pension uses government funds tax so they don't care running behind. If they can balance there why can't they balance social security?
They don't want to save social security. They want to privatize it and make even more money off your savings. This interview could almost be considered propaganda for and by BlackRock.
SS is given to every tom, dick and harry . In the for of people who worked sporadically, worked in low paying jobs, and people who may have never worked and claim a disability. State job pensions are for only the people who worked for the state or fed . And many state pensions are invested in something hopefully growing . SS is not invested , but it sure gets spent upfront for lots of stuff even outside of its intended use.
I can’t recall the last time I found a wealth track so misleading. Typically I love the show. However, this lady has an agenda, she doesn’t want to even talk about the fact that there are many people who are able to work longer and therefore have a satisfying financial retirement. She doesn’t address the fact that there are people who have saved saved diligently. She’s ignores any positives
By design, inequality is expanding in America. Stock markets are bubbled primarily through ten top stocks and massive buybacks enabled by our legislation. In 1982 stock buybacks were illegal until that was reversed by congress. Passive 401k ETF inflows move into a few concentrated top tech stocks coupled with a $1 Trillion dollars of stock buybacks have pushed indexes up. Stock buybacks need a disincentive or limitation (through legislation). They enable the top corporate executive to extract the cream off the top after the stock buybacks increase stock values.
@john nothing to do with stock market, everything to see with the takers, with the taxers, with pension plan for political, municipal, school teachers, policeman, firefighter, all looters.civil servant looters sink the private system.
Elon Musk is Gen X not a Boomer.
Wow, someone is paying attention to the majority of us baby boomers! Thank you.
Corporate greed, the companies expect to increase their profits year on year, is this really sustainable. Wealthier and the higher payed need to pay some more in taxes to fund public services
Very informative!
she is wrong at the very thesis - life expectancy did not change much over the past 50 years. The fact that to save to retirement - USA was always garbage with Canada, that's why you want to go to Germany and get your guaranteed pension at retirement . My brother's wife gets 2000 euro a month working as ave engineer in Germany, in Canada ave engineer get around 300 cad in usa similar. As a doctor in Germany my brother gets on top of his pay 6000 euro in pension a month. Also, as a major power USA is finished, this year 2024 is a massive recession of global proportions.
If you need healthcare and become very sick or need a major surgery, there is no comparable country you'd rather be in than the U.S. Inflation has started to create the income inequality imo and dietary lifestyle affecting the average American's health. Americans may live just as long, but they are living into older years much more diseased.
This guest is a professor who has an agenda that she is not revealing.
what is that agenda?
@@eliza5960 For one she has written a book with a former Blackrock executive. This firm would benefit from privatizing Social Security by claiming it can't be sustained. How often did you hear both host and guest claim Social Security can't be sustained as though it is a fact? It isn't a fact but will be if Blackrock and firms like it get their wish.
"The Myths of Social Security Crisis: Behind the Privatization Push"
I think she is way off base. I don't want an annuity. Or any other new program to "solve" a retirement " crisis" that doesn't exist. Please go away and quit trying to "help me".
I'm 55 yrs old from the tiny stone y poneys Poor
Go take your annuity nonsense somewhere else. 🤮
I'm favoured financially with Bitcoin ETFs, Thank you buddy $32,000 weekly profit regardless of how bad it gets on the economy.
Lol two old people talking about technology they don’t understand