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.
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.
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.
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.
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.
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.
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!
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.
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.
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'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.
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.
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
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.
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.
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.
Thanks Clark and team for all you do. Have a wonderful holiday ❤
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.
Happy Holidays, I love that you’re dressed up, you both look sharp!
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.
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.
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.
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
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!
It never hurts to ask or try.
Merry Christmas and Happy Hannukah
Merry Christmas , Happy Hanukkah, Happy Kwanzaa and Happy New Year. Enjoy your vacation Clark and Christa.😊😊😊
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.
#BonusThought - To Team Clark and all the Clarkies out there.... Happy holidays! And as Charles Dickens would say, "God bless us, everyone!"
Happy Holidays!🎀
Merry Christmas 🎄 and Happy Hanukkah 🕎!!
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.
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.
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.
Great show. Merry Christmas and Happy News Year 😊
Big fan of the Members Mark TP!
Kirkland used to be good but this past year, they messed with the manufacture of it 😢
A lot of mental gymnastics on the toll pass shenanigans.
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.
Woohoo! Clark is dressed up! Must be a special day! 😉
Happy Hanukkah!🕎 Blessed Messiah Day!
Happy Birthday Brother Gary!
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
Too much on toilet paper, please.
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.
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.