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!..
Good retirement montage video. 25x expenses is a good rule of thumb when using the 4% rule. Seems the 4% rule is a little too conservative as people are more likely to have a lot left over later in life. 20x expenses lowers it to a 5% rule which many planners say is still a safe withdrawl rate in a normal market.
Wait ✋️ At 3:44 you said that we are starting off with $50,000. I thought the $50k was just the salary that the person is making. I was assuming they were starting off with 0 and contributing the 7.5k, 5k, and 2.5k respectively. This is confusing 😕
I am 62 and single with 1.1 million in retrement saving and intend on retiring at 63. I have ZERO debt and project my monthly expenses in retirement to be around $4250.00. I am wondering if I should delay taking social security though to 65 or 66?
If you want your money to last you might need to tap SS. You need $51,000 for expenses. Your $1.1 million will conservatively give you $44,000 per year.
@@johnspelman8976 It’s not wrong. It is just a conservative guardrail. You can take above or below this amount but we need to be conservative in retirement.
If my mom saved nothing she would have kept my dads military retirement when he passed away. If my mom saved nothing her long term care would be paid for by taxpayers. Seems like saving money means you did without and sacrificed while you were young and could be active but instead you did without and when you lose your health you will lose your savings...
Enjoyed the percent differences n the end results😊🙏🏿
Awesome! Thank you!
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!..
Good retirement montage video. 25x expenses is a good rule of thumb when using the 4% rule. Seems the 4% rule is a little too conservative as people are more likely to have a lot left over later in life. 20x expenses lowers it to a 5% rule which many planners say is still a safe withdrawl rate in a normal market.
Wait ✋️ At 3:44 you said that we are starting off with $50,000. I thought the $50k was just the salary that the person is making.
I was assuming they were starting off with 0 and contributing the 7.5k, 5k, and 2.5k respectively.
This is confusing 😕
I’m ready to save $1,234,567
Doublecheck your math! If you double your contributions, you should double the end result….right?..
You're forgetting about the $50k initial amount.
Ya it had me scratching my head too
If you start from scratch with 0 then it's pretty much double
I am 62 and single with 1.1 million in retrement saving and intend on retiring at 63. I have ZERO debt and project my monthly expenses in retirement to be around $4250.00. I am wondering if I should delay taking social security though to 65 or 66?
Why not.
Why delay? Take it now
If you want your money to last you might need to tap SS. You need $51,000 for expenses. Your $1.1 million will conservatively give you $44,000 per year.
@@Mitzi73 the 4 percent rule is wrong
@@johnspelman8976 It’s not wrong. It is just a conservative guardrail. You can take above or below this amount but we need to be conservative in retirement.
On your estimated return on investments of 6%, is that before taxes? or after taxes? Thanks
Depends. IRA/401k/Roth IRA it doesn't matter in accumulation stage. Brokerage account before taxes on dividends/interest/cap gains.
your thumbnail looks like your surprised of the dump you just made.
If my mom saved nothing she would have kept my dads military retirement when he passed away. If my mom saved nothing her long term care would be paid for by taxpayers. Seems like saving money means you did without and sacrificed while you were young and could be active but instead you did without and when you lose your health you will lose your savings...