Yes but a side effect of the house prices is that property taxes have gone up significantly In my case they have gone up over 300% where I live in Georgia
And the county where I live and nearby counties have hiked property taxes through both increases and valuations and increases in millage rates. They are obviously on a spending spree.
Was finally offered a 401K after turning 46. Started at the company match and with every years raise increased it to at least 1% more until I was putting away 15% of my pay and would increase it the weeks that I worked overtime. Earned over $3,000 in OT. Hard lesson for most persons PAY YOUR SELF FIRST ! Now 73 and had to start withdrawing minimum required amount from the 401K. Don't retire until you have house, credit cards, cars etc all laid off.
I find it very concerning that credit card balances overall are way up. People get into big trouble that way. It's far wiser to only charge no more than what you can afford to pay off in full on the next bill.
During the boom the “location, location, location” factor was not being applied. A house 1 hour from the city was going for the same price as a premium location. Right now, those rural homes are completely tanking. Houses that were selling for $800k are now struggling to sell for $500k.
As always, I love your videos! I retired in 2012, and my wife retired in 2019. We haven't taken a penny from our traditional IRAs except for me in 2024 (turned 73 years old). I donated my required minimum distribution (RMD) to a qualified charity. I am planning on deducting the RMD from our AGI. Thanks to God! I worked for a financial advisor for about a year in 1977, and we stayed in contact with each other without any fees. I started investing for retirement at 26 years old. You and Christa look great! Happy Holidays to everyone!
Everyone should have a bidet. They are literally life changing. I will never go back and I hate the feeling of using toilet paper in the rare event I need to go #2 outside of my home.
ALWAYS contribute at least to the employer match! To do otherwise is like refusing to take roughly 3/4-1.5 of your paychecks a year, assuming paid biweekly or semi monthly, and 3%-6% match. That match really helps your 401 balance to grow.
It's stupid not to participate in 401K. Your money doubles right away on the company match percentage. When you leave the company, you can transfer it to IRA account with an investment company or leave it with the company if the company allowed it.
Stats from financial service companies about 401k balances are almost useless. These do not take into account the large number of people who leave a small balance at a former employer or who just started with a new employer. In order to draw any kind of conclusions, more wholistic data is required.
Yep, I’ve always said these stats are inaccurate due to multiples accounts with one owner/person. One person might own (3) 401k’s with several hundred thousand in EACH!
I bought Charmin for decades, exclusively, until they suddenly got way more expensive and the quality went down about 20 years ago. It was the perfect product, good quality at the right price. I haven't bought it since and thought it had disappeared. Maybe I'll try it again, but I doubt it will be what it used to be.
The best private label sodas for me have been: Piggly Wiggly's Strawberry flavored soda (many, many years ago) and Whole Food's Gingerale (much better than the 3 leading brands).
Regarding the daughter buying her mom’s car, instead of teaching her the value of being debt free you’re suggesting she be come a slave to the idea of always having a car payment? I don’t think so.
401k Free employer match and a healthy contributions rate is great start…..identifying the low cost index fund offering would be the next big priority. To id which fund is index fund ….simply locate the expense ratio column of all the funds not listed as “bonds”….find the lowest cost fund and you’ve located the best value fund with a high return your companies plan offers. 100% all-in. Next look up the years max allowable contribution limit….and make it your goal to try and save the highest % savings rate you can afford.
On retirement balances. This info coming from the big 3 is always wrong. They do not take into account the additional retirement savings in 401ks and IRAs not with them.
The best TP? Avoid using it altogether by using a Toto Washlet. TP is an inferior technology. The lovely people from Japan have figured this out and I am a happy convert. Costco usually has 1 or 2 Washlets on sale and they take 5 minutes to install.
Except are any states that allow a 16-yo to enter into a contract? Likely not. So, yes, she likely not be able to get a loan without adding some one over 18..surprised Clark missed this
I've compared the MM TP to Charmin, and prefer MM. The roll size sure has declined, however. Back in the late 90s the roll barely fit in the receptacle. Same house today, fits with room to spare.
Corporate landlords are not real home owners. Corporate landlords offset costs with rents, take depreciation, etc. I own my home. My cost of owning a home goes up when property values go up with no additional benefit. If I sell the house, I pay crazy commissions to realtors and I believe I have to pay capital gains on any gain over. $500,000. Then I don't get the benefits of all the proceeds from sale of the original house to purchase a new one.
@@GroovyMisfit Thanks for the clarification; I get your point. If I sold my paid-off house and paid all the associated costs, including moving expenses, what I would have left, invested conservatively, would not generate enough money to pay for renting anything other than a crappy apartment in an undesirable area. So why would I sell my house? If I tried to buy another house, I'd have to step down from what I now have, so why would I sell my house? Last year I replaced HVAC at $10,000; this year I spent over that to deal with a moldy crawlspace. The increase in value does not pay for these things nor for the property taxes so there is no benefit at all ongoing.
Remember that there are three types of lies; lies, damned lies, and statistics. This is why political pols are worthless. This is also why statistical analysis of financial accounts like you are talking about are worthless as well.
![BLACK BAG - Official Trailer [HD] - Only in Theaters March 14](http://i.ytimg.com/vi/Du0Xp8WX_7I/mqdefault.jpg)
Yes but a side effect of the house prices is that property taxes have gone up significantly In my case they have gone up over 300% where I live in Georgia
House Ins & Taxes and supply's for Repairs. Tool's to fix it.
And the county where I live and nearby counties have hiked property taxes through both increases and valuations and increases in millage rates. They are obviously on a spending spree.
Happy Holidays, I love that you’re dressed up, you both look sharp!
Was finally offered a 401K after turning 46. Started at the company match and with every years raise increased it to at least 1% more until I was putting away 15% of my pay and would increase it the weeks that I worked overtime. Earned over $3,000 in OT. Hard lesson for most persons PAY YOUR SELF FIRST ! Now 73 and had to start withdrawing minimum required amount from the 401K. Don't retire until you have house, credit cards, cars etc all laid off.
Smart! Especially the last sentence; get yourself 100% debt free before retirement.
I find it very concerning that credit card balances overall are way up. People get into big trouble that way. It's far wiser to only charge no more than what you can afford to pay off in full on the next bill.
During the boom the “location, location, location” factor was not being applied. A house 1 hour from the city was going for the same price as a premium location. Right now, those rural homes are completely tanking. Houses that were selling for $800k are now struggling to sell for $500k.
As always, I love your videos!
I retired in 2012, and my wife retired in 2019. We haven't taken a penny from our traditional IRAs except for me in 2024 (turned 73 years old). I donated my required minimum distribution (RMD) to a qualified charity. I am planning on deducting the RMD from our AGI.
Thanks to God! I worked for a financial advisor for about a year in 1977, and we stayed in contact with each other without any fees. I started investing for retirement at 26 years old.
You and Christa look great! Happy Holidays to everyone!
Everyone should have a bidet. They are literally life changing. I will never go back and I hate the feeling of using toilet paper in the rare event I need to go #2 outside of my home.
ALWAYS contribute at least to the employer match! To do otherwise is like refusing to take roughly 3/4-1.5 of your paychecks a year, assuming paid biweekly or semi monthly, and 3%-6% match. That match really helps your 401 balance to grow.
And corporations are now trending to stop matching. Put more on the backs of the employees
Thank you Clark for giving the 401k advice. It’s so important. I keep drilling that into my son. I’m so glad I did this now that I’m retired.
Thank you for another year of great advice. Happy holidays! 🎊 🎉
Thanks Clark and team for all you do. Have a wonderful holiday ❤
Merry Christmas , Happy Hanukkah, Happy Kwanzaa and Happy New Year. Enjoy your vacation Clark and Christa.😊😊😊
"As income rises over time" 🥴......... crickets
It's stupid not to participate in 401K. Your money doubles right away on the company match percentage. When you leave the company, you can transfer it to IRA account with an investment company or leave it with the company if the company allowed it.
Hi. I am shocked just to see you guys wearing the blue and red! Ha. Thank you for everything you do for all of us. Merry Christmas! ❤
Stats from financial service companies about 401k balances are almost useless. These do not take into account the large number of people who leave a small balance at a former employer or who just started with a new employer. In order to draw any kind of conclusions, more wholistic data is required.
Yep, I’ve always said these stats are inaccurate due to multiples accounts with one owner/person. One person might own (3) 401k’s with several hundred thousand in EACH!
It never hurts to ask or try.
I bought Charmin for decades, exclusively, until they suddenly got way more expensive and the quality went down about 20 years ago. It was the perfect product, good quality at the right price. I haven't bought it since and thought it had disappeared. Maybe I'll try it again, but I doubt it will be what it used to be.
You guys look great, Clark you clean up well!
#BonusThought - To Team Clark and all the Clarkies out there.... Happy holidays! And as Charles Dickens would say, "God bless us, everyone!"
💚 #bonusthought
Happy Holidays!🎀
The best private label sodas for me have been: Piggly Wiggly's Strawberry flavored soda (many, many years ago) and Whole Food's Gingerale (much better than the 3 leading brands).
Merry Christmas and Happy Hannukah
I detest private label colas, but I think many private label lemon lime and Dr. Pepper style sodas are pretty good.
Regarding the daughter buying her mom’s car, instead of teaching her the value of being debt free you’re suggesting she be come a slave to the idea of always having a car payment? I don’t think so.
OMG😲 You two are wearing different color tops😮
Merry Christmas 🎄 and Happy Hanukkah 🕎!!
We like the Aldi sodas
Umm, well. There's sparkling water is not the best. Haha... Clarkies geekin' out on Aldi. :)
401k Free employer match and a healthy contributions rate is great start…..identifying the low cost index fund offering would be the next big priority. To id which fund is index fund ….simply locate the expense ratio column of all the funds not listed as “bonds”….find the lowest cost fund and you’ve located the best value fund with a high return your companies plan offers. 100% all-in.
Next look up the years max allowable contribution limit….and make it your goal to try and save the highest % savings rate you can afford.
Great show. Merry Christmas and Happy News Year 😊
Interest rates need to drop into the 5s or lower to get the housing market moving.
Home builders and auto manufacturers are dying on the vine
Big fan of the Members Mark TP!
It’s true that most people are far too broke, but looking at 401k balances is not a valid picture of retirement health.
On retirement balances. This info coming from the big 3 is always wrong. They do not take into account the additional retirement savings in 401ks and IRAs not with them.
And one person could have multiples 401’s.
Kirkland used to be good but this past year, they messed with the manufacture of it 😢
Woohoo! Clark is dressed up! Must be a special day! 😉
Happy Hanukkah!🕎 Blessed Messiah Day!
Happy Birthday Brother Gary!
The best TP? Avoid using it altogether by using a Toto Washlet. TP is an inferior technology. The lovely people from Japan have figured this out and I am a happy convert. Costco usually has 1 or 2 Washlets on sale and they take 5 minutes to install.
I’m with Krista on the toilet paper!
Except are any states that allow a 16-yo to enter into a contract? Likely not.
So, yes, she likely not be able to get a loan without adding some one over 18..surprised Clark missed this
Spend that $1 now or get the co match in 401k, to have $3 in retirement. It should be 💯 former but reality too many choose to enjoy now.
Could be a LOT more than $3 depending on RoR and years left to grow.
Good morning Clark and Christa. I use The Members Mark toilet paper and paper towels from Sam's Club. 😊
I've compared the MM TP to Charmin, and prefer MM. The roll size sure has declined, however. Back in the late 90s the roll barely fit in the receptacle. Same house today, fits with room to spare.
A lot of mental gymnastics on the toll pass shenanigans.
Yeah, along with all the rest of the stresses of traveling. I'd rather stay home.
The increase in home prices do not benefit real home owners.
Real homeowners versus fake homeowners? What do you mean?
I think he means the increase that comes with property taxes and ins doesn’t benefit current homeowners? Just my guess? 🤷♂️
Corporate landlords are not real home owners. Corporate landlords offset costs with rents, take depreciation, etc. I own my home. My cost of owning a home goes up when property values go up with no additional benefit. If I sell the house, I pay crazy commissions to realtors and I believe I have to pay capital gains on any gain over. $500,000. Then I don't get the benefits of all the proceeds from sale of the original house to purchase a new one.
@@GroovyMisfit Thanks for the clarification; I get your point. If I sold my paid-off house and paid all the associated costs, including moving expenses, what I would have left, invested conservatively, would not generate enough money to pay for renting anything other than a crappy apartment in an undesirable area. So why would I sell my house? If I tried to buy another house, I'd have to step down from what I now have, so why would I sell my house? Last year I replaced HVAC at $10,000; this year I spent over that to deal with a moldy crawlspace. The increase in value does not pay for these things nor for the property taxes so there is no benefit at all ongoing.
My 401k has just been a dog maybe 2% a year never be a millionaire with it
Too conservative?😂
@@magnoliap5824 not really I mean when the company froze our pension and made funds that was supposed to mimic the market no accountability whatsoever
Too much on toilet paper, please.
Remember that there are three types of lies; lies, damned lies, and statistics. This is why political pols are worthless. This is also why statistical analysis of financial accounts like you are talking about are worthless as well.
Well, he was just using it to get people think about retirement more and to help out with some information. The statistics really didn't matter much.
Wow, I never thought of you as a Jew 🕎 but I guess the Howard name (e.g. Moe & Curley) and you are a great money 💰 guy 🐒
There are many all around us and we don’t know it because they don’t like to tell us.
@@jamessteele7102 And it doesn't matter anyway so we really don't need to know.
What’s your point?