Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
I have worked with a few financial advisors before now but i ultimately settled for 'Annette Marie Holt'. She is SEC regulated and licensed in US. You can easily look her up
I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
I’m worried about retirement planning and I want to ensure a comfortable future. I’ve worked hard my entire life and I want to enjoy the fruits of my labor without financial stress. I’m really concerned about whether I’ve saved enough and invested wisely.
Ari, this podcast is much more relatable, thanks. Could do a follow up on this case and flesh out in more detail what their expenses are? Property taxes, utilities, health insurance. Also add some insights or advice you and the couple discovered in your journey together that might be worth sharing. Thanks Rich
People who are able to retire early are lucky . I have 15 months till 65 and need to look at calling it quits, my only fear is running out of funds much later, thus keen on investing. What could be the safest possible ways to invest for cashflow, in order to afford lifestyle after retirement?
That's right. I am a wife, mother of four and new grandmother, 28 years in Corporate America, retired recently at 57 after discovering the freedom investing could provide, been contributing to my portfolio since the pandemic in early 2020, and have grown a $250,000 savings account to almost 1 million, credits to my investment advisor.
$10,000 a month pulse an extra $30,000 is wild. That’s spending in retirement with no mortgage or debt. My wife and I are in the 97 percentile in terms of income and still don’t plan to spend that much let alone when I’m on my 50,60’s+
Hi Ari. I've been a subscriber for quite a while and never miss one of your videos and discussions. There is always something to learn and I just wish I had access to all this many years ago. This one was good as it was a closer to what I could relate to. I am 75 and retired for 13.5 years. My focus now is on our legacy planning for our two kids and our grandkids. I would love to enroll in the academy and get access to your software but at this point, with so much water under the bridge for me, I struggle justifying the expense for the limited use I would need to give it. I wish there was a less costly way to access on our limited budget. Thank you for all you do and the effort you put into your channel. I find it very enjoyable. Larry, Central Valley, Ca.
$3500 is pretty low, but with no mortgage, is doable if you're not a big spender. $4500-$5000 per month is what I'm shooting for and that's with a mortgage in SoCal. Did a breakdown of all expenses last month and only spent $4100. So retiring with $4500-$5000 per month won't really affect my living style. Not a traveler and my hobbies don't require a lot of money.
Please only 3%-6% of American retire with a Million or more. Also let's not mention the people that retire on social security only. It's time for more realistic plans instead of telling everyone needs million to retire. We are going to retire probably with around 700.00. Almost all of it in Roth. Passive income with rental properties. We are debt free. There is no way we are going to spend 10,000 a month. That with filling world travel goals not on the cheap. Golf membership, 4 fishing boats, cars and trucks. Auto garage for fun projects and wood working shop. Mrs. SueLee's garden and box gardens and fruit trees. Really? Life is worth living. 😎
Where did you get the 3-6%? I thought it was 16%. In any case it’s not that hard to be in that camp. You are already in the 7.1% of the US tax payers who are a landlord. It’s decisions like these that separate you from the average person. Say no to cauliflowers!
Three huge considerations for retirement budget: (a) do you want to travel regularly, (b) how often do you want to eat out, and (c) would you be okay working part-time 15-20 hours per week doing something you enjoy? For a lot of people, going from 40+ hours per week to zero is too abrupt all at once. Personally I'd rather work 20 hours per week through my 50s and 10 or 12 hours in my 60s than retire all-at-once age 57, for instance.... Of course a decline in health could throw a wrench in the plan, but having 4-day weekends most weeks sounds like a blast, for someone who has had 1.5 or 2-day weekends the majority of my life. Have to make it work for you, and your significant other, if you have one. Spending $12k per month doesn't typically make someone 4x happier than spending $3k per month.
Yeah, I was thinking the same thing! They just sound like people who were undisciplined and got lucky with a little inheritance and bam time to retire.
Undisciplined or just didn't know any better.... Investing, and even saving, rarely taught in schools and often not by parents either, especially 30-40 years ago.
I’m guessing since they have to liquidate the IRA within 10 years that accelerated their retirement. Sad they don’t want to give that same opportunity to their kids.
Always like to hear different scenarios. The people in this scenario are the people I have experience with. This is like my parents, and my siblings and many of my friends. I will be in a different position, so I have appreciated your comments on "dreaming big". The whole "what would you do if money were no issue?" is a really good question for people who project out to have millions of $$ at 90. Still, I understand your case study here, because a LOT of people are retiring on $3500 a month or less, and a lot of people are comfortable with that. It's even something I think I could do myself if I had to, but I don't want to have to. I'd rather dream big, and spend what my portfolio will allow.
a couple with no kids and no mortgage? $3500 is extremely comfortable. No trips overseas but you can eat good and do a couple domestic trips each year.
I just did a first pass of a ‘retirement’ budget and once you kick the mortgage and savings and financing kids through college (or just helping out) you’re income needs drastically drop. I think we would be fine with 40% of our current income, possibly less if we cut some discretionary
@@MrKlawUK yeah, most retirement budgets say 70% of pre-retirement income is advised, but then I’m thinking I won’t have kids to pay for and mortgage and car will be paid off. Which should knock out about 60% off my budget, but I’d still be looking at $5,000. If I can get it down to $4,000 I’ll be able to retire much earlier. To me budgeting is the biggest factor of early retirement yet it’s seldom talked about in specifics.
Unless they live in a state with outrageous property taxes or home insurance, it can be done quite easily. I just finished the year on only $9,600. Retired this last July. Been tracking my expenses the last 4 years and have averaged about $14,000. I do lots of outdoor activities, hiking, biking, running. Walk much more than drive nowadays to save money, wear and tear on the car and to keep myself fit. Did most big-ticket expenses in 2020. I planned for $5,000 a month to spend, but I don't think I ever spent that much even when I was still working. Looks like Ari found a way draw us low expense retirees out of the woodwork in the comment section. 😉
@@ChristopherEvans-650 that’s awesome. I think after I get a few big trips out of the way in early retirement, hopefully I can get my expenses down too. I love camping and mountain biking as well, but also love eating out at nice restaurants and traveling.
Great thoughts! I started investing earlier this year. with a start of 75k. I made my first 500k USD last month. Today, I have a decent $950K portfolio. My only regret is not starting earlier. This comment serves as motivation for all those who haven't made returns from investments, do not give up, the right investments will change your life. I should retire soon as long as things remain this good
How did you manage to achieve that level of growth? I'm 55 years old with not enough set aside for retirement at this point. I have always been curious about the market and have witnessed people who played the game right and retired early. Some claimed they started very small, but their portfolio grew over time. I do have a significant amount but I’m unsure about which strategies or approach to take in order to achieve good returns. I'm open-minded and would appreciate any help or guidance
Diversification did it for me. I ventured into real estate crowdfunding, stocks, and the digital market. It took around 6months. I needed to approach it from a different angle. I got my answers, and its been smooth since then. My CFA has been great, clearly my best one yet. I achieved this much with His management. What you need is a CFA who can assist you in managing your portfolio while diversifying your investments
Robert Carlos Wright is my CFA. Someone I can recommend.. His expertise in market knowledge and asset management is truly top-notch. Do your research, google his full name you'll find his details on IAPD or SEC
Hey Ari. I'm a bit of a goldfish, financially. my living expenses are very low and i expect they will be even lower in retirement once i have my property paid off. but if i have a ton of money, i will just build weird things with it (which is fun). My aim is to have two properties paid off within the next 5-10 years plus a major renovation. once that's done, i'll be scooting my rear end off to the mountains and living my best life. I estimate my actual living expenses will only be about 2k per month without a mortgage (covering health insurance, electricity, internet, food and gas). I should be able to make that in rental income from the second property and not even touch my 401K. I'm trying to find a way to get things paid off even quicker because the one thing i really want to buy myself is time.
@@Steve-gx9ot i'm buying free time where i don't have to worry about keeping a roof over my head working a 9-5. I don't want to work till 67. half the women in my family don't make it out of their 70s.
The primary residence is a liability not an investment unless you sell it. A paid off house is going to make the retirement more predictable vs renting but it is still something that costs money. An emergency fund, which is typically in cash or treasury bills, is typically not considered an investment either as it should not be a part of the usual 4% to spend.
At the beginning he said "liquid assets" which is about right for their situation. A house is not liquid and you still need a place to live if you sell it.
In the Midwest we can live on $3500 if the mortgage is paid and a viable source of healthcare is obtained. However, looking at the graph this couple from 65yrs with 500k went to 2.2mil and if so from what percentage growth rate assuming using non risk investment strategies?
Sounds like my wife and I she has a pension and early social security. between us we spend around $4000 per month including a mortgage which we could honestly pay at any time. Our mortgage interest is only %2.375 with $77K left on it. my portfolio is generating way more dividends than I spend and its not a huge multi-million dollar thing.I get tickeled when I see redditors come on and say "I have 2.5 million can I retire?"
I’m looking at the potential of retiring to southern Italy. A retiree can buy a decent house there for not a lot of money. $3500 a month (with no mortgage) is plenty for that economy. More than many people earn there. I expect to have dual citizenship, which comes with healthcare and tax advantages. However, absent dual-citizenship you can still get very affordable healthcare and some tax advantages for buying / residing in certain areas. (7% flat tax up to 10-years)
Retirement planning starts & ends with, "What do you want to spend in retirement?" Plan accordingly! You can get by with surprisingly little if you have no debt and minimize unnecessary expenditures.
They seemed to have had very little most of their lives and have learned to live on it. Almost all of their money is inherited and they may just have gotten that so they’re used to not spending. They’ll be fine.
Ari, thank you so much for this video. My husband and I are 61 and 59 respectively and are trying to get our ducks in a row to know when we can retire. We both will have pensions and social security. My husband is not interested in our finances so it's hard for me to work through all this on my own. I'm trying to figure out when we should start taking SS and if i should take the payout option for my pension. Anything i should be aware of when considering these options?
@@jeanetteelledge6942 thanks for the feedback. My goal was for you to determine your expenses and not compare yourself to others. Sorry that didn’t come across for you!
it looks like you are going from age 55 to 91 in projecting a possible $2.4 million left at the end ... but they did inherit 413K (80% of their portfolio) , and if you go back 36 years on the inflation calculator to 1988 and put in 413K you will see it grows to $1.1 million today in 2024 ... so $1.1 million of that $2.4 million at age 91 (projected , not guaranteed) should at least be there for the kid , in my opinion , because it was given to them by parents or whoever ... but of course they have a 340K paid for house which probably wasnt given to them and that will be worth 900K at age 91 with inflation , so that would leave the kid most of the $1.1 million with inflation that the parents inherited and have today at 413K ... i suspect these folks have already thought about that and will leave the kid more than $1.1 million , but inflation has to be figured into the scenario for the future as well ... $2.4 million today sounds like a huge number , but when theyre age 91 (36 years from now) , it will likely only be worth 900K ... because on the historical inflation calculator if you go back 36 years to 1988 , and you put in 900K , today its worth 2.4 million ... this is of course all just based on my opinion that we should leave our kids as good or better than our parents/family left us ... to each his/her own
@@MrGoodaches thanks for the feedback. My goal was for you to determine your expenses and not compare yourself to others. Sorry that didn’t come across for you!
I have been retired for five years now. Although I've been adhering to the 4% rule, things are more challenging than I did not anticipate. 30% of the $600K I invested in stocks is lost to the market. How can I diversify my portfolio for retirement?
Now you are retired and depend on your investment; it's best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember a couple of summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat; hence, I researched licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k...
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation.
I like your videos but I almost lost my patience on how much repetitive you got on this one. It took a long time for you to get to your point, and I still am not sure what the point was.
@@josesaraivax thanks for the feedback. My goal was for you to determine your expenses and not compare yourself to others. Sorry that didn’t come across for you!
On the flip side my parents retired 20 years ago with a net worth of probably 200k with most of that in their townhome. They lived on their social security. They weren't travelers and just lived a simple life with no issues.
Great talk. Thank you. I like the 1mil and below. If we were to keep working until 60 we would be at the 2mil mark. Instead we are choosing to make an exit at 1mil and have a great life ASAP. I wish everyone success in their future endeavors and HNY2025!
![Noob To Max With DRAGON REWORK In Blox Fruits [FULL MOVIE]](http://i.ytimg.com/vi/LnBMOinoOvA/mqdefault.jpg)
Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
Could you kindly elaborate on the advisor's background and qualifications?
I have worked with a few financial advisors before now but i ultimately settled for 'Annette Marie Holt'. She is SEC regulated and licensed in US. You can easily look her up
I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
I’m worried about retirement planning and I want to ensure a comfortable future. I’ve worked hard my entire life and I want to enjoy the fruits of my labor without financial stress. I’m really concerned about whether I’ve saved enough and invested wisely.
I completely understand. Ensuring financial security in retirement is crucial. Have you considered consulting a financial advisor?
Yes I have. But I don’t know who exactly to trust to provide the right advices and guidance for me.
True. I have been in contact with a CFA that specializes in retirement planning. His expertise can help optimize your savings and investments.
Who’s this CFA? And how can I reach out to him?
JOSEPH NICK CAHILL
Ari, this podcast is much more relatable, thanks. Could do a follow up on this case and flesh out in more detail what their expenses are? Property taxes, utilities, health insurance. Also add some insights or advice you and the couple discovered in your journey together that might be worth sharing. Thanks Rich
People who are able to retire early are lucky . I have 15 months till 65 and need to look at calling it quits, my only fear is running out of funds much later, thus keen on investing. What could be the safest possible ways to invest for cashflow, in order to afford lifestyle after retirement?
consider investment planning, learning from a well experienced advisor is invaluable and a great thing to do now
That's right. I am a wife, mother of four and new grandmother, 28 years in Corporate America, retired recently at 57 after discovering the freedom investing could provide, been contributing to my portfolio since the pandemic in early 2020, and have grown a $250,000 savings account to almost 1 million, credits to my investment advisor.
please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with 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.
$10,000 a month pulse an extra $30,000 is wild. That’s spending in retirement with no mortgage or debt. My wife and I are in the 97 percentile in terms of income and still don’t plan to spend that much let alone when I’m on my 50,60’s+
I understand people have different goals and spending habits, but “dreaming big” doesn’t have to equal “spending more.”
Hi Ari. I've been a subscriber for quite a while and never miss one of your videos and discussions. There is always something to learn and I just wish I had access to all this many years ago. This one was good as it was a closer to what I could relate to. I am 75 and retired for 13.5 years. My focus now is on our legacy planning for our two kids and our grandkids. I would love to enroll in the academy and get access to your software but at this point, with so much water under the bridge for me, I struggle justifying the expense for the limited use I would need to give it. I wish there was a less costly way to access on our limited budget. Thank you for all you do and the effort you put into your channel. I find it very enjoyable. Larry, Central Valley, Ca.
Email me ari@rootfinancialpartners.com
Thanks for a more realistic view of how the majority of us can retrieve on closer to median retirement savings.
$3500 is pretty low, but with no mortgage, is doable if you're not a big spender. $4500-$5000 per month is what I'm shooting for and that's with a mortgage in SoCal.
Did a breakdown of all expenses last month and only spent $4100. So retiring with $4500-$5000 per month won't really affect my living style. Not a traveler and my hobbies don't require a lot of money.
Have you accounted your monthly spending for inflation for the upcoming 20/30 years?
Thank you for sharing this one! More relatable to me.
Glad you enjoyed it!
Some of us can spend $2K/mo and never be without..
Please only 3%-6% of American retire with a Million or more. Also let's not mention the people that retire on social security only. It's time for more realistic plans instead of telling everyone needs million to retire. We are going to retire probably with around 700.00. Almost all of it in Roth. Passive income with rental properties. We are debt free. There is no way we are going to spend 10,000 a month. That with filling world travel goals not on the cheap. Golf membership, 4 fishing boats, cars and trucks. Auto garage for fun projects and wood working shop. Mrs. SueLee's garden and box gardens and fruit trees. Really? Life is worth living. 😎
Where did you get the 3-6%? I thought it was 16%. In any case it’s not that hard to be in that camp. You are already in the 7.1% of the US tax payers who are a landlord. It’s decisions like these that separate you from the average person.
Say no to cauliflowers!
This is the early retirement channel for Root Financial, people horde and retire early.
Three huge considerations for retirement budget: (a) do you want to travel regularly, (b) how often do you want to eat out, and (c) would you be okay working part-time 15-20 hours per week doing something you enjoy?
For a lot of people, going from 40+ hours per week to zero is too abrupt all at once.
Personally I'd rather work 20 hours per week through my 50s and 10 or 12 hours in my 60s than retire all-at-once age 57, for instance.... Of course a decline in health could throw a wrench in the plan, but having 4-day weekends most weeks sounds like a blast, for someone who has had 1.5 or 2-day weekends the majority of my life.
Have to make it work for you, and your significant other, if you have one. Spending $12k per month doesn't typically make someone 4x happier than spending $3k per month.
So they want their kids to make their own way but most of their liquid assets are inherited?!?
Yeah, I was thinking the same thing! They just sound like people who were undisciplined and got lucky with a little inheritance and bam time to retire.
Undisciplined or just didn't know any better.... Investing, and even saving, rarely taught in schools and often not by parents either, especially 30-40 years ago.
I’m guessing since they have to liquidate the IRA within 10 years that accelerated their retirement. Sad they don’t want to give that same opportunity to their kids.
Always like to hear different scenarios. The people in this scenario are the people I have experience with. This is like my parents, and my siblings and many of my friends. I will be in a different position, so I have appreciated your comments on "dreaming big". The whole "what would you do if money were no issue?" is a really good question for people who project out to have millions of $$ at 90. Still, I understand your case study here, because a LOT of people are retiring on $3500 a month or less, and a lot of people are comfortable with that. It's even something I think I could do myself if I had to, but I don't want to have to. I'd rather dream big, and spend what my portfolio will allow.
Ari, regarding the academy software. Are there annual updates that are needed, or is it one and done? Happy New Year!
Updates happen automatically.
I wish you got more into how they got their expenses down to only $3,500.
a couple with no kids and no mortgage? $3500 is extremely comfortable. No trips overseas but you can eat good and do a couple domestic trips each year.
I just did a first pass of a ‘retirement’ budget and once you kick the mortgage and savings and financing kids through college (or just helping out) you’re income needs drastically drop. I think we would be fine with 40% of our current income, possibly less if we cut some discretionary
@@MrKlawUK yeah, most retirement budgets say 70% of pre-retirement income is advised, but then I’m thinking I won’t have kids to pay for and mortgage and car will be paid off. Which should knock out about 60% off my budget, but I’d still be looking at $5,000. If I can get it down to $4,000 I’ll be able to retire much earlier.
To me budgeting is the biggest factor of early retirement yet it’s seldom talked about in specifics.
Unless they live in a state with outrageous property taxes or home insurance, it can be done quite easily. I just finished the year on only $9,600. Retired this last July. Been tracking my expenses the last 4 years and have averaged about $14,000. I do lots of outdoor activities, hiking, biking, running. Walk much more than drive nowadays to save money, wear and tear on the car and to keep myself fit. Did most big-ticket expenses in 2020.
I planned for $5,000 a month to spend, but I don't think I ever spent that much even when I was still working. Looks like Ari found a way draw us low expense retirees out of the woodwork in the comment section. 😉
@@ChristopherEvans-650 that’s awesome. I think after I get a few big trips out of the way in early retirement, hopefully I can get my expenses down too. I love camping and mountain biking as well, but also love eating out at nice restaurants and traveling.
Great thoughts! I started investing earlier this year. with a start of 75k. I made my first 500k USD last month. Today, I have a decent $950K portfolio. My only regret is not starting earlier. This comment serves as motivation for all those who haven't made returns from investments, do not give up, the right investments will change your life. I should retire soon as long as things remain this good
How did you manage to achieve that level of growth? I'm 55 years old with not enough set aside for retirement at this point. I have always been curious about the market and have witnessed people who played the game right and retired early. Some claimed they started very small, but their portfolio grew over time. I do have a significant amount but I’m unsure about which strategies or approach to take in order to achieve good returns. I'm open-minded and would appreciate any help or guidance
Diversification did it for me. I ventured into real estate crowdfunding, stocks, and the digital market. It took around 6months. I needed to approach it from a different angle. I got my answers, and its been smooth since then. My CFA has been great, clearly my best one yet. I achieved this much with His management.
What you need is a CFA who can assist you in managing your portfolio while diversifying your investments
Can you recommend? It's not very common to find a good one
Robert Carlos Wright is my CFA. Someone I can recommend.. His expertise in market knowledge and asset management is truly top-notch. Do your research, google his full name you'll find his details on IAPD or SEC
Just did. I found his qualifications, also saw him on the CBC market interview. How can I reach him?
Hey Ari. I'm a bit of a goldfish, financially. my living expenses are very low and i expect they will be even lower in retirement once i have my property paid off. but if i have a ton of money, i will just build weird things with it (which is fun). My aim is to have two properties paid off within the next 5-10 years plus a major renovation. once that's done, i'll be scooting my rear end off to the mountains and living my best life. I estimate my actual living expenses will only be about 2k per month without a mortgage (covering health insurance, electricity, internet, food and gas). I should be able to make that in rental income from the second property and not even touch my 401K. I'm trying to find a way to get things paid off even quicker because the one thing i really want to buy myself is time.
You are not " buying time" lmao
@@Steve-gx9ot i'm buying free time where i don't have to worry about keeping a roof over my head working a 9-5. I don't want to work till 67. half the women in my family don't make it out of their 70s.
Why say 500k when they have nearly 1m net worth. Even without house they have over 600k.. other wise, love the content...
The primary residence is a liability not an investment unless you sell it. A paid off house is going to make the retirement more predictable vs renting but it is still something that costs money. An emergency fund, which is typically in cash or treasury bills, is typically not considered an investment either as it should not be a part of the usual 4% to spend.
If that is what you took from the video then you missed the point.
At the beginning he said "liquid assets" which is about right for their situation. A house is not liquid and you still need a place to live if you sell it.
655k pre tax ~ 500k after tax disposable income assuming the Ira are withdrawn over a period of time.
@@leftysidewinder They could pay little or no tax if they took it out slow enough.
In the Midwest we can live on $3500 if the mortgage is paid and a viable source of healthcare is obtained. However, looking at the graph this couple from 65yrs with 500k went to 2.2mil and if so from what percentage growth rate assuming using non risk investment strategies?
I was hoping to see their financial plan with your software.
It’s there!
Sounds like my wife and I she has a pension and early social security. between us we spend around $4000 per month including a mortgage which we could honestly pay at any time. Our mortgage interest is only %2.375 with $77K left on it. my portfolio is generating way more dividends than I spend and its not a huge multi-million dollar thing.I get tickeled when I see redditors come on and say "I have 2.5 million can I retire?"
I’m looking at the potential of retiring to southern Italy. A retiree can buy a decent house there for not a lot of money. $3500 a month (with no mortgage) is plenty for that economy. More than many people earn there.
I expect to have dual citizenship, which comes with healthcare and tax advantages. However, absent dual-citizenship you can still get very affordable healthcare and some tax advantages for buying / residing in certain areas. (7% flat tax up to 10-years)
I would have liked to see you do a 'what if you spend $5,000 a month' and how that changed the projection. I am enjoying your channel, Ari.
Retirement planning starts & ends with, "What do you want to spend in retirement?" Plan accordingly!
You can get by with surprisingly little if you have no debt and minimize unnecessary expenditures.
They seemed to have had very little most of their lives and have learned to live on it. Almost all of their money is inherited and they may just have gotten that so they’re used to not spending. They’ll be fine.
Does long term capital gains taxed at 0% get added to your MAGI when determining premium tax credits for health insurance?
Ari, thank you so much for this video. My husband and I are 61 and 59 respectively and are trying to get our ducks in a row to know when we can retire. We both will have pensions and social security. My husband is not interested in our finances so it's hard for me to work through all this on my own. I'm trying to figure out when we should start taking SS and if i should take the payout option for my pension. Anything i should be aware of when considering these options?
Where is the LTC at end of life? Once you put that in that curve turns into a frown.
expenses, meet cash flow.
This video wasn't that helpful. I kept waiting for you to get to the point, but then it ended.
@@jeanetteelledge6942 thanks for the feedback. My goal was for you to determine your expenses and not compare yourself to others. Sorry that didn’t come across for you!
it looks like you are going from age 55 to 91 in projecting a possible $2.4 million left at the end ... but they did inherit 413K (80% of their portfolio) , and if you go back 36 years on the inflation calculator to 1988 and put in 413K you will see it grows to $1.1 million today in 2024 ... so $1.1 million of that $2.4 million at age 91 (projected , not guaranteed) should at least be there for the kid , in my opinion , because it was given to them by parents or whoever ... but of course they have a 340K paid for house which probably wasnt given to them and that will be worth 900K at age 91 with inflation , so that would leave the kid most of the $1.1 million with inflation that the parents inherited and have today at 413K ... i suspect these folks have already thought about that and will leave the kid more than $1.1 million , but inflation has to be figured into the scenario for the future as well ... $2.4 million today sounds like a huge number , but when theyre age 91 (36 years from now) , it will likely only be worth 900K ... because on the historical inflation calculator if you go back 36 years to 1988 , and you put in 900K , today its worth 2.4 million ... this is of course all just based on my opinion that we should leave our kids as good or better than our parents/family left us ... to each his/her own
Title included “how”, content did not.
@@MrGoodaches thanks for the feedback. My goal was for you to determine your expenses and not compare yourself to others. Sorry that didn’t come across for you!
The answer is spend $3500/mo with no mortgage/rent
I have been retired for five years now. Although I've been adhering to the 4% rule, things are more challenging than I did not anticipate. 30% of the $600K I invested in stocks is lost to the market. How can I diversify my portfolio for retirement?
Now you are retired and depend on your investment; it's best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember a couple of summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat; hence, I researched licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k...
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation.
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.
Hey, scammers! Is anyone falling for this fake “conversation”? (And you lost 30% when the market was up over 20% this year? Brilliant!)
I like your videos but I almost lost my patience on how much repetitive you got on this one. It took a long time for you to get to your point, and I still am not sure what the point was.
@@josesaraivax thanks for the feedback. My goal was for you to determine your expenses and not compare yourself to others. Sorry that didn’t come across for you!
I need 3500 a month just for my country club membership. LOL.
On the flip side my parents retired 20 years ago with a net worth of probably 200k with most of that in their townhome. They lived on their social security. They weren't travelers and just lived a simple life with no issues.
Great talk. Thank you. I like the 1mil and below. If we were to keep working until 60 we would be at the 2mil mark. Instead we are choosing to make an exit at 1mil and have a great life ASAP.
I wish everyone success in their future endeavors and HNY2025!
Love how you plug yourself saying anyone who has less than 2 million won’t make the cut. .. way to drive away potential clients.
Ari mostly advises high net worth clients of $2M or more. It’s on his website or page.
You know as long as you don't live in goofy uber lib California... you can retire with $500K in many places in this country...