I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Diversify your holdings across several asset types to reduce risk rather than putting all of your eggs in one basket. If you don't know a lot about finances, speak with a financial expert.
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
Annette Marie Holt is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I hadn't planned to retire until 70. I walked away at 64 1/2. I was SO happy to not leave my house for days and delve back into crafts and volunteerism I had abandoned for years. I work seasonal part-time that covers taxes and insurance, and a rental house covers basic monthly needs. This will happen until I begin drawing SS at 70. A frugal lifestyle more than offsets the emotional fatigue of dealing with egotiscal millineials and Gen X employees.
I'm in the UK, my parents hardly spent any money in their retirement- my mum was stubborn and refused to have a cleaner or any help until the last few months of her life. They always used to take the bus instead of a taxi. Now my 94 year old dad is in a care home and all of their money and assets will go on his care. He pays 8K per month, the person in the next room pays nothing as they have no assets. Moral of the story is spend at least some of your money on yourself and loved ones while you're alive, don't count on being able to leave anything to your children.
Thank you Darryl. My Mother is in a memory care place as well. 6 years. It has changed my entire outlook and value of retirement. In addition I have a new boss of 3 years now 25 years younger and he is smart but immature and unprofessional. We're in complete different sides of the fence of life. He has meltdowns and is insecure. This is driving my decision as well. I am 62 in a few months...
Listening to Die With Zero now. The author has a great perspective. I’ve seen videos by younger people who believe this book encourages people to give nothing to their adult children. That is not actually what he says. He encourages people who are retired to enjoy their savings and have some wonderful life experiences. One of these experiences is to give money to your children Before you die when they needed most. If we do this, we will have little to nothing left over to give them an inheritance, but we will have already helped them with something like buying a house or a car or paying for a wedding or giving them money to pay off their student loans.
Make sure your mortgage is paid off. I'm retiring in 2 years at 62 because that will be done and I'm experiencing ageism in my line of work (software engineering). I want out ASAP. Income and savings won't be an issue.
@@TheRetirementGuyYT Also depends on how much money you will have available after retirement. If you will not be able to afford the mortgage, pay it off early, or get a reverse mortgage if it works for you.
Would love to, but can’t retire at 67. Don’t have enough $s yet & combined w/SS, will not be enough. Aging will be a sad, but hopefully, short process.
I work in healthcare crazy hours in a rural area. I am so isolated it’s infancy. There is no support and no time to cultivate it. Hoping houses will come back to reality so I can buy a small comfy house and get a dog again. Sit know what I’ll do as far as when heavy things need lifting . So many times I just have to go without because no choice if there’s no one to help
Maybe volunteer at a library, museum, local animal shelter, or non-profit that supports immigrants or homeless people. That can be a very meaningful way to connect with people as you have more spare time. Also, could join a service organization like the Optimists. If you have business experience, maybe mentor some younger adults who want to start a business. Best thing to do is find meaningful ways to invest your time.
it’s the health insurance that’s why a lot of people are staying. It’s not cause we want to. I’m only 58 soon to be 59 and my boss is not good at all and I’m too good. I will not quit, but I would like a job where I just punch in it eight and leave it 430 so I can exercise more. It’s ruining me.
I retired at 36. I was flat broke and fresh out of prison on a false conviction, of which I won an appeal. One of those in the wrong place at the wrong time kind of bad luck situations. There just were no jobs. And I had no interest in having anything do with humanity ever again. I locked myself in my house and hardly never went out or anywhere again, save for groceries every 2 weeks. Eighteen years later, I'm up 100K in savings. The United States is the worst place in the world to live imho. I play on RUclips where it's safe from humanity.
So sorry to hear that, please move on with your life and enjoy. Don't stay home too often, find something to do. Find a partner, God is on your side and watching you.
@@royharper2003 Well it's not, and I'm not moving because you just can't pick up a 50+ year old family farm and move it. If we could, we would of long ago. A lot better well countries around the world...
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Diversify your holdings across several asset types to reduce risk rather than putting all of your eggs in one basket. If you don't know a lot about finances, speak with a financial expert.
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
Annette Marie Holt is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I hadn't planned to retire until 70. I walked away at 64 1/2. I was SO happy to not leave my house for days and delve back into crafts and volunteerism I had abandoned for years. I work seasonal part-time that covers taxes and insurance, and a rental house covers basic monthly needs. This will happen until I begin drawing SS at 70. A frugal lifestyle more than offsets the emotional fatigue of dealing with egotiscal millineials and Gen X employees.
People often retire before they expect to. Great message. Thanks for sharing and watching!
... and boomer bosses
I'm in the UK, my parents hardly spent any money in their retirement- my mum was stubborn and refused to have a cleaner or any help until the last few months of her life. They always used to take the bus instead of a taxi. Now my 94 year old dad is in a care home and all of their money and assets will go on his care. He pays 8K per month, the person in the next room pays nothing as they have no assets. Moral of the story is spend at least some of your money on yourself and loved ones while you're alive, don't count on being able to leave anything to your children.
Agreed. Thanks for the comment and for watching!
Thank you Darryl. My Mother is in a memory care place as well. 6 years. It has changed my entire outlook and value of retirement. In addition I have a new boss of 3 years now 25 years younger and he is smart but immature and unprofessional. We're in complete different sides of the fence of life. He has meltdowns and is insecure. This is driving my decision as well. I am 62 in a few months...
That's a lot 🥲. I hope you can leave job behind soon and thank you for watching!
Plan ahead to exit DO NOT just leave immediately if you’re unhappy. …. On the other hand if your prepared financially it maybe to exit.
Listening to Die With Zero now. The author has a great perspective. I’ve seen videos by younger people who believe this book encourages people to give nothing to their adult children. That is not actually what he says. He encourages people who are retired to enjoy their savings and have some wonderful life experiences. One of these experiences is to give money to your children Before you die when they needed most. If we do this, we will have little to nothing left over to give them an inheritance, but we will have already helped them with something like buying a house or a car or paying for a wedding or giving them money to pay off their student loans.
FOR SURE! Great comment. I agree. Thanks for watching!
Sounds like working part time is a great way to ease into retirement.
I think it is. Thx for watching.
Subscribing because you respected my time by including chapter marks in the video. Thanks for that.
Thank youb
Make sure your mortgage is paid off. I'm retiring in 2 years at 62 because that will be done and I'm experiencing ageism in my line of work (software engineering). I want out ASAP. Income and savings won't be an issue.
Depends on the interest rate but generally I agree. If people don't want debt so be it. Thanks for watching!
I am doing exactly what you are doing.
@@TheRetirementGuyYT Also depends on how much money you will have available after retirement. If you will not be able to afford the mortgage, pay it off early, or get a reverse mortgage if it works for you.
Would love to, but can’t retire at 67. Don’t have enough $s yet & combined w/SS, will not be enough. Aging will be a sad, but hopefully, short process.
Best of luck and thanks for watching
Great advice, even for those who plan to retire early.
Thanks for watching!
Good tips! I'm about 1 year away from retirement and am thinking a lot about what I'm planning to do with my time outside of travel.
Best of luck and thanks for watching.
I'm entering retirement in the next days! I think I'm very well prepared for it but this video contains a lot of things I didn't think of; thanks :)
Best of luck and thanks for watching!
What a heart-warming personal story about the boys.
It’s the last one they have with her. Thanks for watching.
Sir, retiring single scares me due to the loneliness involved.
Yep. It’s scary. Thanks for watching.
I work in healthcare crazy hours in a rural area. I am so isolated it’s infancy. There is no support and no time to cultivate it. Hoping houses will come back to reality so I can buy a small comfy house and get a dog again. Sit know what I’ll do as far as when heavy things need lifting . So many times I just have to go without because no choice if there’s no one to help
Join a gym and go consistently.
Maybe volunteer at a library, museum, local animal shelter, or non-profit that supports immigrants or homeless people. That can be a very meaningful way to connect with people as you have more spare time. Also, could join a service organization like the Optimists. If you have business experience, maybe mentor some younger adults who want to start a business. Best thing to do is find meaningful ways to invest your time.
Get a hobby, volunteer, find people who are like minded.
Thank for your tip. As a health care provuder, I agree with your occupational health comments.
Thanks for watching!
Great video. Thank you.
Glad you liked it! Thanks for watching!
If all your social connections are job related that's very sad and you'd better get involved in activities where you meet other people.
Very true
if burnout was grounds for retirement the company I work for wouldn’t have any employees left.
Funny comment, thx!
Very true
Thank you
it’s the health insurance that’s why a lot of people are staying. It’s not cause we want to. I’m only 58 soon to be 59 and my boss is not good at all and I’m too good. I will not quit, but I would like a job where I just punch in it eight and leave it 430 so I can exercise more. It’s ruining me.
I hope you find a better situation for you. Thanks for watching.
Anyone that has to look at a Stranger on RUclips to decide whether you retire or not, needs a psychiatrist. USE YOUR OWN BRAIN.
3:15 Does your kids even knows?
Yes they know.
I retired at 36.
I was flat broke and fresh out of prison on a false conviction, of which I won an appeal. One of those in the wrong place at the wrong time kind of bad luck situations. There just were no jobs. And I had no interest in having anything do with humanity ever again. I locked myself in my house and hardly never went out or anywhere again, save for groceries every 2 weeks. Eighteen years later, I'm up 100K in savings. The United States is the worst place in the world to live imho. I play on RUclips where it's safe from humanity.
Thanks for watching.
So sorry to hear that, please move on with your life and enjoy. Don't stay home too often, find something to do. Find a partner, God is on your side and watching you.
your story sounds like absolute BS and if you don't like the US then move.
@@royharper2003 Well it's not, and I'm not moving because you just can't pick up a 50+ year old family farm and move it. If we could, we would of long ago. A lot better well countries around the world...
@@MS-nj9le Ever hear of selling? If the think the US is so bad why don't you move to Cuba where you will be lucky to eat every day
You are funny
If you are being serious. 🧐 thank you.