If this helped you, or you found it easy to follow along, please do me a favor and let me know here in the comments. Your feedback is important to me and helps me understand if I'm representing this info in a way that makes it easier to understand... or not.
Love your videos and that you are both involved so much in the videos and care about your audience!! The pen and the technology is very helpful to get your points across. Please keep it coming! I do have to comment that I have seen a lot of your videos that you tend to show your back to the camera for a while on end, or the side of your face for a long while and can’t see your mouth as you speak. Is there a way you could rearrange your setup where we get to see more of your face, not seeing your mouth move could be distracting and difficult to follow when you teach these complicated financial maneuvers.
That’s great feedback. Thank you! We are working on a setup that will eliminate that problem. Really appreciate you taking the time to leave us this feedback. 👏🏽
The benefits of paying off a home early is it takes risk out of the equation. If a home is paid off at retirement, that is also less of a liability that a retiree needs to worry about. $55+1000 month at 28 years with a 7% average return (conservatve put him over $1,300,000. Split up between a Roth and a taxable brokerage, plus his pretax IRA would actually look good in retirement. Instead of drawing off principal during retirement he could get a SBLOC or convert to more dividend paying etfs and bonds.
39:17 communal living. To tell you the truth, I think communal living as an elderly female and your husband passed is a great way to live. I am ok just having a room and a kitchenette. Really this is ideal and you can split the costs with others in the house for a housekeeper, a errand runner, an in house taxi if you don't want to maintain a car. I know a few people that live this way in Scottsdale. It is a formed Coop. and there are fees to keep it going to be a part of it. It isn't for everyone, but there are lots of big mansion type houses there and if you got into one with like 6 people you could make it work and have some interaction as an older person. My husband if he outlives me would never go for that. He is the master of his own house! But if I outlive him for sure I would do this type of living style. I probably would want my car for as long as I could and be that in house taxi service and uber driver forever...but I do love to drive as it is a meditation for me.
That eutopia you get from cleaning out savings and paying off debt last for a couple of days. Then stress sets in when you realize you have no savings. Unless you listen to Dave you’ll have 1k. Lol
Inflation makes it to where you cannot save for retirement unless you are investing even into your 80s. I don't want to live until I can no longer function on my own....but if I do I plan on getting some special pudding on my 95th birthday. All joking aside, everything is going up and a million dollars just isn't what it was. The 20.00 bill is now 100.00 bill. Plus I want some really good wine when I am closer to the end and I don't want to eat cat food from aldi to survive. I would like to go out with some style.
That’s where having a machine in place that can supplement if not fully sustain your lifestyle is key. And we have to start sooner versus later as we are running out of compound cycles.
If this helped you, or you found it easy to follow along, please do me a favor and let me know here in the comments. Your feedback is important to me and helps me understand if I'm representing this info in a way that makes it easier to understand... or not.
Awesome information
Glad it was helpful! Thanks for taking the time to leave us some feedback
Love your videos and that you are both involved so much in the videos and care about your audience!! The pen and the technology is very helpful to get your points across. Please keep it coming! I do have to comment that I have seen a lot of your videos that you tend to show your back to the camera for a while on end, or the side of your face for a long while and can’t see your mouth as you speak. Is there a way you could rearrange your setup where we get to see more of your face, not seeing your mouth move could be distracting and difficult to follow when you teach these complicated financial maneuvers.
That’s great feedback. Thank you!
We are working on a setup that will eliminate that problem. Really appreciate you taking the time to leave us this feedback. 👏🏽
The benefits of paying off a home early is it takes risk out of the equation. If a home is paid off at retirement, that is also less of a liability that a retiree needs to worry about. $55+1000 month at 28 years with a 7% average return (conservatve put him over $1,300,000. Split up between a Roth and a taxable brokerage, plus his pretax IRA would actually look good in retirement. Instead of drawing off principal during retirement he could get a SBLOC or convert to more dividend paying etfs and bonds.
Great material
Thank so much! Is there anything you'd like to see more of (or less of)? We are always trying to improve
39:17 communal living. To tell you the truth, I think communal living as an elderly female and your husband passed is a great way to live. I am ok just having a room and a kitchenette. Really this is ideal and you can split the costs with others in the house for a housekeeper, a errand runner, an in house taxi if you don't want to maintain a car. I know a few people that live this way in Scottsdale. It is a formed Coop. and there are fees to keep it going to be a part of it. It isn't for everyone, but there are lots of big mansion type houses there and if you got into one with like 6 people you could make it work and have some interaction as an older person. My husband if he outlives me would never go for that. He is the master of his own house! But if I outlive him for sure I would do this type of living style. I probably would want my car for as long as I could and be that in house taxi service and uber driver forever...but I do love to drive as it is a meditation for me.
It’s the concept of your household becoming a thriving business. Couple that with the strategy of becoming your own bank and it’s a game changer.
That eutopia you get from cleaning out savings and paying off debt last for a couple of days. Then stress sets in when you realize you have no savings. Unless you listen to Dave you’ll have 1k. Lol
Or maybe your savings moved to a new location like that room you freed up on the credit card you paid off. But I do follow what you mean.
Gems!
really appreciate that feedback!
should I, then take my money out of a IRA and put it somewhere else?
Depends on your goal.
"Navigating the DEBT FREE journey? Beware these hidden pitfalls! 💸 #FinancialWellness #DebtFreeJourney"
Inflation makes it to where you cannot save for retirement unless you are investing even into your 80s. I don't want to live until I can no longer function on my own....but if I do I plan on getting some special pudding on my 95th birthday. All joking aside, everything is going up and a million dollars just isn't what it was. The 20.00 bill is now 100.00 bill. Plus I want some really good wine when I am closer to the end and I don't want to eat cat food from aldi to survive. I would like to go out with some style.
That’s where having a machine in place that can supplement if not fully sustain your lifestyle is key. And we have to start sooner versus later as we are running out of compound cycles.