More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
These days we are detailing each and every aspect including life, so much so that we get anxious and feel it’s better to end it😄, switch off from Social Media , life will be much more peaceful….these are news overloaded.
i would agree our generation is dyeing young one lady i knew below 40 died yesterday suddenly we dont need retirement planning we have less time better to enjoy life
@@indian9632 first we need to simplify we have so many emi and loans better to simplify no costly mobile cars bikes gadgets just only what you need simple not expensive myself using 10k phone working for me and less emi more investing in shares bluechip and in physical gold which has given me return of 50% since past 7 years than I sold some of my gold bought real estate gave it for rental.so investing with logic and simple life will save you.spending will give heartache.
@@yfhello Dude in earlier generations people died in womb ,infancy , childhood,adulthood , middle age due to all sorts of things in much much greater proportion. We are the most well established and surviving generation. And that is why the cost is rising cause there are just too many people and not enough resources. Instead of" living", live a balanced life and stop having kids all together. Within 50-100 years A.I is going to takeover everything. Where will your jobs go than?
Spoken like true boomers who only see the world through their own lens of hypocrisy, delusion and self-entitlement, and blames the same thing on younger generation so they don't see that.
It's all because as the Technology is evolving, so as stress among GenZ. Today Generation don't want to take Unnecessarily stress in their head just previous Generation hence they avoid it.
I once attended a MoneyLife seminar on retirement planning. I was the first person to reach the room and sat in the front row. When the seminar started, I looked back and realized that I was the only person in the room with black hair. There is a time to plant the seeds and a time to harvest the fruits. The white haired ones had missed the planting season altogether
@@deepthinker1710I don t think so when I started working in delhi back in 2008 my salary was 8500/- per month . From my 3rd salary I Started investing. My husband also thinks same way . We are at much better position now . Everything planned
People are being pushed into early retirement. Job opportunities start shrinking after 40 & getting a job after 45 is very difficult. Esp in India. The educated unemployed are increasing in numbers in the age group of above 45
@@Happysoul_3 u will be good ca, lawyers if better manage assets like mom and bargain above market. ca , lawyers they just fooling u in name of finance.. paise feko kaam settlement kro
As a doctor myself, let me assure you that this trend of unemployment would, much sooner than later, be evident in Medicine too. Quacks are literally being fastracked or given an open clean chit. The sheer number of graduates passing out means doing a specialisation/super spec, would be a must. That takes on an average 10-12 years after your junior college. And to earn well either u have to be in the top of your field/ have a setup preplanned for u/ reservation etc. Don’t even get me started on the Depression/Suicide/Burnout rates /working hours:pay of physicians as compared to general population
This is true. I am on late 20s and frustrated with my job. Want to save and come out of the trap, but early retirement planning is also tricky and a type of trap. As a lower middle class member, you may not reach the goal even if you are saving every single penny. At the end, you loose mental & physical health, and stuck in a loop.
I've been reconsidering my retirement strategy, questioning if my 401(k) and IRA are enough for a secure future. I’ve also invested $300K in the stock market, but the returns have been inconsistent and modest. I'm now looking for an investment approach that better aligns with my risk tolerance and financial objectives.
Using a 401(k) or IRA is a valuable strategy for retirement planning, providing potential savings growth and tax advantages. While the stock market is promising, expert guidance is essential for effective portfolio management.
Opting for an inves-tment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a year now. Starting with less than $200k and being just $19,000 away from making half a million in profit.
Graham David Fullerton is among the most accomplished portfolio managers in the industry, widely acknowledged for his outstanding work. I highly recommend taking a closer look at his impressive portfolio.
very good phrase to put on internet. When you have family, every dollar or rupee counts. Human greed/corporate is so expensive that you cannot catch-up with each year passing.
Just go to Village and live carefree, also what will your children be for if you are taking good care of them , they will obviously help you My father does
The best manner to avoid retirement anxiety is to avoid retirement and work till your last day. More than three thousand years ago the Isa Upanishad advised 'One should live for a hundred years doing work (karma).
@@mandarbamane4268 You seem to be under the impression that employment especially in government jobs is the only kind of work. But self-employed persons, professionals, hawkers, businessmen, farmers, daily workers and politicians are among the people who do not have a fixed retirement age and many continue till the last day of their lives. I am talking here only about paid work. As for young people there are many opportunities and open doors but they should avoid the bandwagon and be ready to take offbeat professions.
I suggest you also discuss about Currency Devaluation every 5-10 yrs and Inflation of Essential Goods and Services.. This is double whammy for Savings in Currency.. Indian Rupee has devalued close to 95% since past decade.. USD to INR was 45 in 2010 but is now 83.. Why Rupee didn't grow strong despite great performance and exports in India using power of digital transformation..
Live to the fullest, enjoy every moment of your life, and don't worry because it will bring illness to you. Educate your kids well and teach them how to cope with the changing world.
How can you live to the fullest when you are struggling even for food and clothing ? Let alone other essential commodities . Enjoying and happiness are two different things , you can be happy with nothing but only your family but you need money and time to enjoy .
@@neerajsaxena I think a lot of us will agree that this was viable to have as a perspective last decade or maybe the one before that, but in today's terms only the people born with a silver spoon and up can afford to have a perspective like that. Even monks are struggling these days.
Yep, that is the only possible way to retire in this economy. And also life would have more meaning if we enjoyed it rather than working our ass off for someone else.
This is exactly the sort of bs that is inserted into the minds of a teen....that results in the said teen "trying" to live life king/queen size......all on credit.... ultimately screwing that person's finances and making him a wage slave...and all the stress that brings in. A teen should learn to have low cost hobbies and savings should be high on his list of priorities...along with taking care of his health. Don't fall for the marketing pitch of "the best days are the days of the youth".....this is a pure pitch to make the youth spend. Take care of your finances and health and your life beyond 30 will be WAY better than your youth.
Learn to live a SIMPLE and happy life ....and teach the kids to cope with all the difficult situation that can comeup in life and tell them its normal and that LUCK also plays a very important part in everyones life...and its not all about our capability 🙂
Don't beg for money when you don't have. And live in the streets and tents when my family is living in a house and going in cars. You should have the same confidence when all goes out of control.
@@Family-un3rfInvest in sectors where careless people spend.... Their spending translates to more returns for us.... So let them enjoy life to the max.
@@FactsCountdown Tell that to a person who is now past 60 who can't work like he used to be,who splurged all his money when he was young and is now homeless with no social security. Probability of living more is far greater. Investing doesn't mean one should be a miser.
@@drarunaj life is unpredictable anything can happen, so some people live in the present and don't care about the future while other people sacrifice the present and invest for securing the future. In both cases we need to sacrifice either present or future.
Gen Z is disillusioned with the World ridden with wars, economic Inequality, climate change, polarised society, lack of educational and employment avenues and divisions turbocharged by social media. Societies are becoming divided by the day, the middle ground is shrinking, youngsters are feeling stifled with hyper competitive and materialistic atmosphere built around them right from childhood which is against the very tendency of human nature. Technological disruptions are wreaking havoc on their lives with virtual presence having a free pass to control our lives. Loneliness has tightened its grip with humanity in free fall driven by greed and egos. Families are breaking due to communication and generation gaps. The old elites don't want to hand over power, influence and decision making to the young because of scepticism of what they term as "incompetency and mediocrity". Combine all of them with bullying, harassment, frailing mental health and sexual abuse and it becomes a classic recipe for disaster where majority of the globe is condemned to suffering, helplessness and deprivation.
If people working in private company get decent pension it will help to reduce 80 percent of anxiety in India. Even working after 25/30 years we get only couple of thousands as pension.
Monopolies have caused new busineeses to fail and only job remains the source of income for common people... Govt work for the private companies not the citizens..
People have also become lazy and corrupt instead of coming on to streets against this they've normalized the behavior of big business tycoons by doing nothing.
@@thebrave354 Businesses need risking lot of money in the starting phase... And time To network and create costumers... Most people don't have that much money to risk and do business... laziness would not be the right word but the responsibilities and the situation...
Food, Rent & child education would take up everything of your salary. You just hope the insurance company would take care of your hospital bills & won't betray. In my dads era, these expenses would not takeup even 5% of his salary & he could double the savings in 5yrs. Even when he had so less salary. We never felt the pinch. How i am supposed to save for retirement 😢 ?
I am 100% sure that will have to work till I die, being born in the middle class with no ancestral property in India, what other options do we have ? the only way one can retire nowadays is to save up his entire life earnings without spending it on anything.
In the U.S. only 45% of Americans will live to be 65 years old. That means our government isn't paying out SS to 55% of the people who paid into it. Yet, every time we turn around they tell us that SS is running out of money! How come they never tell us that welfare is running out of money? Social Security was pre-funded by the people who receive it. Welfare was not, yet it always has enough money!
Frugality is the key. A rupee saved is much more than a rupee earned. Plus potential health benefits, leading to further savings in healthcare costs. Simple living and a yearning for meaning (that I will not define) - no substitute for these. I know I am giving my age away by my talk. Thank you Palki ma'am for another nice topic!
Before 2000 when liberalizations fruits started coming it was mainly govt jobs, agriculture and traditional jobs like artisans. Those with govt job got pension and those in agriculture can survive with land available. Now situation is that many many are employed in private sector with no pension and no job guarantee. Those who came in job market after 2000 will actually retire from 2035 onwards and than actual problems will come. Families with pvt job, single income and no legacy money will have to struggle.
Agreed. Just like to add one more point : ppl in Govt jobs also don't have pension these days. Those who got jobs in Govt sector after 2005 are axed out of pension scheme.
Life Expentancy in India according to WHO website is 70years. This is the main reason why NRIs in USA, Canada, Australia, UK etc want to come to retire in India. They like the idea that you have to put down a deposit at the hospital, whatever your condition is, before the doctor can see you.
Keep it simple... Switch off from social media... Live in the present... No need to think about the past or future...🎶 मैं जिंदगी का साथ निभाता चला गया🎶 हर फ़िक्र को धुवें में उडा...🎶 चला गया.. 🎶
I question the data that says people are living longer. The data suggest we are living longer is because infants mortality is reducing, not because adults population is living longer.
I have seen young people who have hardly started earning but buy iPhone on EMI though their existing mobile is in good condition. Hope they improve their approach in future.
It js not all gloom and doom . Both my daughters belong to gen Z ( younger ) and Millennial ( elder ) and are financially independent since age 17 . It is not how much you earn and save but how and where you invest your savings which secures your retirement . Both save a substantial part of their earnings from Salaries in long term retirement growth funds which are locked in for upto age 65 when their superannuation also kicks in . Both have no plans to retire at 65 like their parents who would be working well after 65 to maintain the same high standard of living which we all enjoyed since their birth .
I'd retiring or working less in 8 years, and considering this financial recession, Im deciding to begin taking up skilled trades. I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $120K per year but nothing to show for it yet.
You should contribute to your retirement diligently, or better still look into financial planning don't come to youtube for advise, consult a Local or trusted online broker/ planner
Very true, I find myself lucky enough exposed to money management at an early age. Worked full time when I was 19, purchased first home at 28 fact forward timo I'm 57 now not laid off
This is huge! would love to grow my reserve regardless of the economy situation, my 407k has lost everything accrued since early 2019, at this point, i'm in need of guidance, can you point me?
I am hesitant to make recommendations like this online so I can't share the contact, but you could look them up online and reach out if you wish "Folmar Advisory"
Maam I wish you could talk about the job crisis in india . And how companies have not given joining dates to freshers for more than a yead even after interviews and LOI . They we can not speak cause they may red list us , the numbers are in thousands. Please do look into this
You kids follow a simple plan, save 100 dollars a week, put it in a ROTH IRA or after tax account first up to the max allowable and invest in stocks. Then into a before tax account for the rest of it and do not look at it! What ever your paycheck is at the end of the week that’s what you live on and save to buy a house! Multi families are great way to get started, live in one unit/renovate it and rent out the others. Another unit becomes available move to that one renovate it, wash and repeat til the whole building is fixed up and you’re getting top dollar for each unit. By then you’ll have built up equity to get a second mortgage, rinse and repeat til you’re real estate in MAKING MONEY by then you’ll be married and can buy you first principal house and work your butt off, believe me the years will fly by so at 50’ish you can either retire comfortably or keep working it’s your choice. Always give yourself plenty of options and diversify your investments. I did it working a blue collar job for 30 years 50+ hr work weeks plus my rentals and retired at 53 1/2 years young riding mtn bike and hiking all over the USA…
"One man's food is another man's poison" Some people having luxuries all their life when many hard working people are worried about retirement. Cruel world 😔
I'm not interested in Enslaving for money, jobs suck, i try to be content creator, just need to improve ny looks and I'm good to go, doing what we love is meaning of life for me, when u die I will not regret
1.3 crore rupees for retirement is not at all sufficient. it will give you bare minimum. A middle class retirement needs at least 4 crore in savings with 1cr to mitigate emergency. And expenses are rising .....
@@oneminutemathofficial you don’t dig in your principal. And there is no adequate medical insurance. When there is a medical emergency things get steep towards north. Not everything is insured in medical emergencies.
The government should encourage savings by providing incentives. But the government of the day has almost all incentives for savings. Also they have put a cap on PF contributions.
Control your spending or you are doomed for sure. Saving can only happen when you spend on the things you require rather than you want. Greed is the culprit most of the time, not the time and circumstances.
Why are we not thinking about revolutionary change in the current system... if we create needbase society instead of profit/loss making society, all anxiety will be resolved... it is high time think out of the box instead of rat race...
Step 1. Don’t pay into a pension plan… old folks suck the money and funds take massive fee’s Step 2. Claim no income and go on welfare, pay no taxes and get free money Step 3. Don’t know
Mathematically you need 8 Cr to live comfortably in any Indian city. Assuming average inflation is 6%. Keeping it in mutual fund will give 10% increase. If you take out 4% out every year, your corpus increases 6% , so it keeps up with inflation. 4% of 8Cr is 32 lakhs Taking tax at 30% slab, you get 22.4 lakhs/year.
bhai ...seems you are a biswas...means u a bengali... I reside in Kolkata, which is a big city. and the cost of living here is very very cheap. i believe a corpus of 2 crore is more than enough,( offcourse with a side earning from your passion). with 2 crore, you can have approx 10 lakh a year from interest after paying taxes and other stuff. Considering me, who wants to teach after retirement. i can earn a minimal amount of 3 lakh a year. so 13 lakh a year is more than enough if used well as well as re invested for more corpus... 8 crore is for people in banglore or those who want a city life having disco and drinks all the year round
@@subham.biswas That's the problem with rough math. You calculated your tax at 9.6 L when it would actually be 6.7 L. That's 9% difference on your principal of 32 L. When you earn around that level, you are very mindful of taxes.
If there is a job There will be retirement Where is the job Most guys seems to be getting out of existing job very early or they are being sent home. What next is the question.
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
@@mikegarvey17Mind if I ask you to recommend this particular coach you using their service?
'Gertrude Margaret Quinto' maintains an online presence. Just make a simple search for her name online.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
These days we are detailing each and every aspect including life, so much so that we get anxious and feel it’s better to end it😄, switch off from Social Media , life will be much more peaceful….these are news overloaded.
correct
Dude u r on yt which is a social media platform 😂
@@sunnymeee primarily a search engine, and we cannot follow or chat privately. so its not a social media.
So what you are basically saying is Ignorance is bliss?
Yesh I've deleted my Instagram, and I have so much more time to focus on myself, my environment and my goals
3 people i know had heart attack last week. They still were in their 40s. Stop planning for retirement and start living.
lmao true but I save 2.5 crores in 6 years which is great for me I can stop working any time now after reaching 8 crores corpus
i would agree our generation is dyeing young one lady i knew below 40 died yesterday suddenly we dont need retirement planning we have less time better to enjoy life
Start plan planning without worrying
@@indian9632 first we need to simplify we have so many emi and loans better to simplify no costly mobile cars bikes gadgets just only what you need simple not expensive myself using 10k phone working for me and less emi more investing in shares bluechip and in physical gold which has given me return of 50% since past 7 years than I sold some of my gold bought real estate gave it for rental.so investing with logic and simple life will save you.spending will give heartache.
@@yfhello Dude in earlier generations people died in womb ,infancy , childhood,adulthood , middle age due to all sorts of things in much much greater proportion.
We are the most well established and surviving generation. And that is why the cost is rising cause there are just too many people and not enough resources.
Instead of" living", live a balanced life and stop having kids all together. Within 50-100 years A.I is going to takeover everything.
Where will your jobs go than?
It's not about just retirement... This generation is anxious anyway...
I agree, they are more concerned about getting "likes" on their posts.
Spoken like true boomers who only see the world through their own lens of hypocrisy, delusion and self-entitlement, and blames the same thing on younger generation so they don't see that.
Guys plz do like my above comment. It's very important for ms. I can't imagine my life without those likes 👆😰
It's all because as the Technology is evolving, so as stress among GenZ.
Today Generation don't want to take Unnecessarily stress in their head just previous Generation hence they avoid it.
I once attended a MoneyLife seminar on retirement planning. I was the first person to reach the room and sat in the front row. When the seminar started, I looked back and realized that I was the only person in the room with black hair. There is a time to plant the seeds and a time to harvest the fruits. The white haired ones had missed the planting season altogether
Power of compounding.
Because you only have lots of money 💰
Wise words
@@deepthinker1710I don t think so when I started working in delhi back in 2008 my salary was 8500/- per month . From my 3rd salary I
Started investing. My husband also thinks same way . We are at much better position now . Everything planned
@priyankachoudhary628 investing what? What your salary now?
People are being pushed into early retirement. Job opportunities start shrinking after 40 & getting a job after 45 is very difficult. Esp in India. The educated unemployed are increasing in numbers in the age group of above 45
Ur next
Until you are a doctor
Or a lawyer & a CA.. these professional courses are a saviour
@@Happysoul_3 u will be good ca, lawyers if better manage assets like mom and bargain above market. ca , lawyers they just fooling u in name of finance.. paise feko kaam settlement kro
As a doctor myself, let me assure you that this trend of unemployment would, much sooner than later, be evident in Medicine too. Quacks are literally being fastracked or given an open clean chit. The sheer number of graduates passing out means doing a specialisation/super spec, would be a must.
That takes on an average 10-12 years after your junior college. And to earn well either u have to be in the top of your field/ have a setup preplanned for u/ reservation etc.
Don’t even get me started on the Depression/Suicide/Burnout rates /working hours:pay of physicians as compared to general population
Just buy a small place in remote area where you grow crops and you are all set. More peace, More time!
That sounds like too much physical work for this generation.
This is true. I am on late 20s and frustrated with my job. Want to save and come out of the trap, but early retirement planning is also tricky and a type of trap. As a lower middle class member, you may not reach the goal even if you are saving every single penny. At the end, you loose mental & physical health, and stuck in a loop.
No its not true. The money u save evwn if it is small it gives u returns.
Enjoy capitalism
Try reading "Rich Dad, Poor Dad"
@@yahyatouray6866 doesn't resolve the main issue
@@yahyatouray6866 this is like closing your eyes when you experience real danger
I've been reconsidering my retirement strategy, questioning if my 401(k) and IRA are enough for a secure future. I’ve also invested $300K in the stock market, but the returns have been inconsistent and modest. I'm now looking for an investment approach that better aligns with my risk tolerance and financial objectives.
Using a 401(k) or IRA is a valuable strategy for retirement planning, providing potential savings growth and tax advantages. While the stock market is promising, expert guidance is essential for effective portfolio management.
Opting for an inves-tment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a year now. Starting with less than $200k and being just $19,000 away from making half a million in profit.
Graham David Fullerton is among the most accomplished portfolio managers in the industry, widely acknowledged for his outstanding work. I highly recommend taking a closer look at his impressive portfolio.
Living longer is the biggest problem for seniors now. We live longer but the quality of life is not great in terms of relationships
True
The only problem with getting older is if you do not have options, the more options the more happy you’ll be.
We are prey to insurance companies due to this anxiety...
The past is history, the future is a mystery, and this moment is a gift. That is why this moment is called ‘the present’.
Learn to live with less - you won't need to hoard a lot for your future. Learn the art to enjoy more with less.
very difficult in this world where its becoming increasingly tough to even make enfds meet with high paying jobs 😢
Excellent observation!
very good phrase to put on internet. When you have family, every dollar or rupee counts. Human greed/corporate is so expensive that you cannot catch-up with each year passing.
Just go to Village and live carefree, also what will your children be for if you are taking good care of them , they will obviously help you
My father does
So you mean to say we need to cut down our basic necessities????
The best manner to avoid retirement anxiety is to avoid retirement and work till your last day. More than three thousand years ago the Isa Upanishad advised 'One should live for a hundred years doing work (karma).
Yes, everyone like military, sportsperson, police & literally everyone else & reduce opportunities for youngsters
@@mandarbamane4268 You seem to be under the impression that employment especially in government jobs is the only kind of work. But self-employed persons, professionals, hawkers, businessmen, farmers, daily workers and politicians are among the people who do not have a fixed retirement age and many continue till the last day of their lives. I am talking here only about paid work. As for young people there are many opportunities and open doors but they should avoid the bandwagon and be ready to take offbeat professions.
It's all true but sometimes things don't work out the way we plan just learn to live happily in all situation i feel easier said than done. 😊
I love the way she gave a brief conclusion that's always leave something in my mind to think next right away.
I suggest you also discuss about Currency Devaluation every 5-10 yrs and Inflation of Essential Goods and Services.. This is double whammy for Savings in Currency.. Indian Rupee has devalued close to 95% since past decade.. USD to INR was 45 in 2010 but is now 83.. Why Rupee didn't grow strong despite great performance and exports in India using power of digital transformation..
I think the basic is one health insurance, one term insurance and PF amount which is never touched till Retirement
Probably you never think about a job loss.
Live to the fullest, enjoy every moment of your life, and don't worry because it will bring illness to you. Educate your kids well and teach them how to cope with the changing world.
How can you live to the fullest when you are struggling even for food and clothing ? Let alone other essential commodities .
Enjoying and happiness are two different things , you can be happy with nothing but only your family but you need money and time to enjoy .
@@Notsosarcastic_02 it's all a matter of the perspective, you will only get what you seek for. Strong belief can make the impossible possible.
@@Notsosarcastic_02 Exactly
@@neerajsaxena I think a lot of us will agree that this was viable to have as a perspective last decade or maybe the one before that, but in today's terms only the people born with a silver spoon and up can afford to have a perspective like that. Even monks are struggling these days.
@@ShinichiKudoQatnip Blame the insane taxation and refusal to see the real inflation.
I am happy that you have covered this, being a early Gen Z in late twenties, this is the topic in our minds
Better not have kids. Enjoy life and go. The cost of housing, health care, education is sky rocketing.
Now tell that to our society
Teach this to Muslims as they won't stop.
😂@@githvfyzhub
Yep, that is the only possible way to retire in this economy. And also life would have more meaning if we enjoyed it rather than working our ass off for someone else.
Marriage .. rather divorce is another major reason for men losing a lot of money. Many smart guys are jist having relationships rather than marrying.
Time to ask for a prenup
@@rayyanabdulwajid7681 many times prenups are not honoured by the judge.
@@rayyanabdulwajid7681 prenup are not valid in India
Enjoy life while you're young. Growing old is not worth it.
It depends, growing old is a privilege not many get to have
@@sew_gal7340for sure for Indians... Happiness index is the proof...
This is exactly the sort of bs that is inserted into the minds of a teen....that results in the said teen "trying" to live life king/queen size......all on credit.... ultimately screwing that person's finances and making him a wage slave...and all the stress that brings in.
A teen should learn to have low cost hobbies and savings should be high on his list of priorities...along with taking care of his health.
Don't fall for the marketing pitch of "the best days are the days of the youth".....this is a pure pitch to make the youth spend.
Take care of your finances and health and your life beyond 30 will be WAY better than your youth.
Privilege with demented mind n body aches 😂
@@Meteor-iz5jjnot necessarily
Learn to live a SIMPLE and happy life ....and teach the kids to cope with all the difficult situation that can comeup in life and tell them its normal and that LUCK also plays a very important part in everyones life...and its not all about our capability 🙂
A solution to every problem is the best part of the video... An ensurance and A guidance to us
I love how they select relevant topics and provide solution to them !
Those who need the least remain rich
No, spend like no tomorrow , life is so short
Don't beg for money when you don't have. And live in the streets and tents when my family is living in a house and going in cars. You should have the same confidence when all goes out of control.
@@Family-un3rfInvest in sectors where careless people spend.... Their spending translates to more returns for us.... So let them enjoy life to the max.
@@drarunaj what if you invest money for 15 years then before withdrawing your investment you died without enjoying anything.
@@FactsCountdown
Tell that to a person who is now past 60 who can't work like he used to be,who splurged all his money when he was young and is now homeless with no social security.
Probability of living more is far greater.
Investing doesn't mean one should be a miser.
@@drarunaj life is unpredictable anything can happen, so some people live in the present and don't care about the future while other people sacrifice the present and invest for securing the future. In both cases we need to sacrifice either present or future.
Gen Z is disillusioned with the World ridden with wars, economic Inequality, climate change, polarised society, lack of educational and employment avenues and divisions turbocharged by social media. Societies are becoming divided by the day, the middle ground is shrinking, youngsters are feeling stifled with hyper competitive and materialistic atmosphere built around them right from childhood which is against the very tendency of human nature. Technological disruptions are wreaking havoc on their lives with virtual presence having a free pass to control our lives. Loneliness has tightened its grip with humanity in free fall driven by greed and egos. Families are breaking due to communication and generation gaps. The old elites don't want to hand over power, influence and decision making to the young because of scepticism of what they term as "incompetency and mediocrity". Combine all of them with bullying, harassment, frailing mental health and sexual abuse and it becomes a classic recipe for disaster where majority of the globe is condemned to suffering, helplessness and deprivation.
If people working in private company get decent pension it will help to reduce 80 percent of anxiety in India. Even working after 25/30 years we get only couple of thousands as pension.
Monopolies have caused new busineeses to fail and only job remains the source of income for common people... Govt work for the private companies not the citizens..
People have also become lazy and corrupt instead of coming on to streets against this they've normalized the behavior of big business tycoons by doing nothing.
@@thebrave354 Businesses need risking lot of money in the starting phase... And time To network and create costumers... Most people don't have that much money to risk and do business... laziness would not be the right word but the responsibilities and the situation...
Food, Rent & child education would take up everything of your salary. You just hope the insurance company would take care of your hospital bills & won't betray.
In my dads era, these expenses would not takeup even 5% of his salary & he could double the savings in 5yrs. Even when he had so less salary. We never felt the pinch.
How i am supposed to save for retirement 😢 ?
I am 100% sure that will have to work till I die, being born in the middle class with no ancestral property in India, what other options do we have ? the only way one can retire nowadays is to save up his entire life earnings without spending it on anything.
In the U.S. only 45% of Americans will live to be 65 years old. That means our government isn't paying out SS to 55% of the people who paid into it. Yet, every time we turn around they tell us that SS is running out of money! How come they never tell us that welfare is running out of money? Social Security was pre-funded by the people who receive it. Welfare was not, yet it always has enough money!
Gen-Z should START working in the first place before thinking about RETIREMENT!!
Why worry?? Inheritances are inevitable. Or a Universal Basic Income.
We need plenty of money, but strong relationships are far more important to keep life and the will to stay alive going.
Very True , Your content and Delivery is Amazing !!
Frugality is the key. A rupee saved is much more than a rupee earned. Plus potential health benefits, leading to further savings in healthcare costs. Simple living and a yearning for meaning (that I will not define) - no substitute for these. I know I am giving my age away by my talk. Thank you Palki ma'am for another nice topic!
You said it.
Not a rupee saved but a rupee invested would be more appropriate 😉
The only thing I will do at retirement age is go to some ashram or mountains and meditate there till the end of my life with other sages.
Gen-Z hasn't even worked but still thinking of retirement. 😂
yeah
The fundamentals are fucked up. Savings are not going to take you anywhere, investing is must for a peaceful retirement.
social media has made each one of us think like 'I know everything yet I know nothing'
Before 2000 when liberalizations fruits started coming it was mainly govt jobs, agriculture and traditional jobs like artisans. Those with govt job got pension and those in agriculture can survive with land available. Now situation is that many many are employed in private sector with no pension and no job guarantee. Those who came in job market after 2000 will actually retire from 2035 onwards and than actual problems will come. Families with pvt job, single income and no legacy money will have to struggle.
Agreed. Just like to add one more point : ppl in Govt jobs also don't have pension these days. Those who got jobs in Govt sector after 2005 are axed out of pension scheme.
Life Expentancy in India according to WHO website is 70years. This is the main reason why NRIs in USA, Canada, Australia, UK etc want to come to retire in India.
They like the idea that you have to put down a deposit at the hospital, whatever your condition is, before the doctor can see you.
One Nation, One Price ( Rate of Goods) 🇪🇬
I've been working for just about 3 years. I'm 26 and I'm already worrying about my retirement which I thought would be at 50 years old 😂😂
Yes with the rising of personal finance.. it got us thinking are we investing enough for our retirement or not.
And with rise rise of toxicity at work place. Everyone are bound to think of retirement
Yet financial advisers always says “it’s never too late, you can catch up”…
Keep it simple...
Switch off from social media...
Live in the present...
No need to think about the past or future...🎶
मैं जिंदगी का साथ निभाता चला गया🎶 हर फ़िक्र को धुवें में उडा...🎶 चला गया.. 🎶
I question the data that says people are living longer. The data suggest we are living longer is because infants mortality is reducing, not because adults population is living longer.
That's nothing, 5 cr minimum without home , with home 3 cr
for a couple.
depends who much u spend
For men, they are one hospital or divorce away from loosing their life savings.
3 cr for couple 😂😂😂
Kyo kaju ki roti banate hai kya budhape me log
@@junedshaikh967😂
3 cr is nothing for couple, 1 serious illness and 40 lakh will go in hospital bills.. atleast 6 cr with 1 home
We here in India not getting a job, how would we be able to save anything from Zero Income....😢
Whats you age bro? We can start startup
@@desislowed_songs sure, I'm Btech graduate and you??
@@vishishtsaxena4488 still no job?. I'm metch
@@desislowed_songs I did got, but company revoked job offers of all the candidates. And yours...??
@@vishishtsaxena4488 can I know package ?. I'm in good placement. But planning to business
*Start saving the day you start EARNING*
No start a business
I have seen young people who have hardly started earning but buy iPhone on EMI though their existing mobile is in good condition. Hope they improve their approach in future.
It js not all gloom and doom . Both my daughters belong to gen Z ( younger ) and Millennial ( elder ) and are financially independent since age 17 . It is not how much you earn and save but how and where you invest your savings which secures your retirement . Both save a substantial part of their earnings from Salaries in long term retirement growth funds which are locked in for upto age 65 when their superannuation also kicks in . Both have no plans to retire at 65 like their parents who would be working well after 65 to maintain the same high standard of living which we all enjoyed since their birth .
I'd retiring or working less in 8 years, and considering this financial recession, Im deciding to begin taking up skilled trades. I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $120K per year but nothing to show for it yet.
You should contribute to your retirement diligently, or better still look into financial planning don't come to youtube for advise, consult a Local or trusted online broker/ planner
Very true, I find myself lucky enough exposed to money management at an early age. Worked full time when I was 19, purchased first home at 28 fact forward timo I'm 57 now not laid off
This is huge! would love to grow my reserve regardless of the economy situation, my 407k has lost everything accrued since early 2019, at this point, i'm in need of guidance, can you point me?
I am hesitant to make recommendations like this online so I can't share the contact, but you could look them up online and reach out if you wish
"Folmar Advisory"
The name is FOLMAR ADVISORY
Maam I wish you could talk about the job crisis in india . And how companies have not given joining dates to freshers for more than a yead even after interviews and LOI . They we can not speak cause they may red list us , the numbers are in thousands. Please do look into this
You're asking the wrong person. She has a job guarantee from the Modi govt.
She is BJP person.
@@MrSatadalLol! Madrassacoolies at work!
@@thewhatorwhyAny proof?
Job crisis? Get self employed! Open a fast food cart, make vadapav and sell beside the road!
Tell me if they even hit 50s😢😢 war coming, water shortage, climate rapid change, famines 😢
You kids follow a simple plan, save 100 dollars a week, put it in a ROTH IRA or after tax account first up to the max allowable and invest in stocks. Then into a before tax account for the rest of it and do not look at it! What ever your paycheck is at the end of the week that’s what you live on and save to buy a house! Multi families are great way to get started, live in one unit/renovate it and rent out the others. Another unit becomes available move to that one renovate it, wash and repeat til the whole building is fixed up and you’re getting top dollar for each unit. By then you’ll have built up equity to get a second mortgage, rinse and repeat til you’re real estate in MAKING MONEY by then you’ll be married and can buy you first principal house and work your butt off, believe me the years will fly by so at 50’ish you can either retire comfortably or keep working it’s your choice. Always give yourself plenty of options and diversify your investments.
I did it working a blue collar job for 30 years 50+ hr work weeks plus my rentals and retired at 53 1/2 years young riding mtn bike and hiking all over the USA…
Let's have kids only in rare cases
Only if you have that much corpus to educate them.
No don't create slaves for the government and the rich.
You need to consider why people are living longer. They are well fed. So a lot of these worries should not be there.
"One man's food is another man's poison"
Some people having luxuries all their life when many hard working people are worried about retirement. Cruel world 😔
Madness of economics.
As An American I plan on moving to a cheaper country like Indonesia for retirement.
Don't make housing prices more expensive because dollar please. Here is already expensive for us in 20s
But you won't be able to exercise you 1st and 2nd amendment in some third world like Indonesia.
How much minimum money needed to live , moving towards frugal lifestyle..
Monthly 10 thousand rupees. With kids may be 20 to 30. I was wondering when people say 1lakh per month.
I'm not interested in Enslaving for money, jobs suck, i try to be content creator, just need to improve ny looks and I'm good to go, doing what we love is meaning of life for me, when u die I will not regret
Family, friends, or relatives just do co-housing and that will cut your costs by at least 40%.
Howmuch you earn does not matter,when one hospital bill can make you homeless...
Yeah I guess this has been around for most generations in the past too. Different times call for different challenges.
We will have to go off grid
1.3 crore rupees for retirement is not at all sufficient. it will give you bare minimum. A middle class retirement needs at least 4 crore in savings with 1cr to mitigate emergency. And expenses are rising .....
Really? 75k per month in retirement is not enough along with adequate health insurance, if house and children's education are taken care of??
@@oneminutemathofficial you don’t dig in your principal. And there is no adequate medical insurance. When there is a medical emergency things get steep towards north. Not everything is insured in medical emergencies.
@@oneminutemathofficialnot enough 75k is bare minimum.. might need 3 lacks to have a comfortable retirement life.
Me who just about to give my collage entrace exam tomorrow and this news like seriously 🙁
I'm new to this presenter. She's awesome.
young people dont need retirement planning because in any case we are dying below 40 it has now become very common
The government should encourage savings by providing incentives.
But the government of the day has almost all incentives for savings.
Also they have put a cap on PF contributions.
Well, I don't think Indian 'Old parents relying on their child' is the best plan. Well, nothing can beat inflation like this.
In India duty hours increasing and salary is decreasing
Same scene in Canada UK Australia
@@robbenvanpersie1562 false information
@@robbenvanpersie1562 they have strict regulations for defending the rights of the employees
Start living in the present and don't worry about the future. Everything will be fine.
Control your desire to accumulate more materials...
I am only worried if government shut down the stock market. Forex market gets banned. Or government banned people from entering into stock market.
Control your spending or you are doomed for sure. Saving can only happen when you spend on the things you require rather than you want. Greed is the culprit most of the time, not the time and circumstances.
Is there a retirement anxiety for the labour force / daily wage earners all over the world - india 80 cr on that line.
All of our problems will solve itself if we go back in time 10 years, when the internet was slow and buffering
Living simply would solve major retirement anxiety.
The world is becoming critical. You can't live simple. You can't undermine human aspirations.
Why are we not thinking about revolutionary change in the current system... if we create needbase society instead of profit/loss making society, all anxiety will be resolved... it is high time think out of the box instead of rat race...
Capitalism wants blind consumers based society so it's very difficult to create a need based society under capitalism.
saving is all good but if you can invest in a skill that you can acquire then go for it as it will exponentiate your growth
Glad I’m not alone
They don’t want to have kids who are future generations how much can they save😢
Step 1. Don’t pay into a pension plan… old folks suck the money and funds take massive fee’s
Step 2. Claim no income and go on welfare, pay no taxes and get free money
Step 3. Don’t know
THERE IS NOTHING TO WORRY AT ALL, PROVIDED ONE KNOWS THE SECRET OF LIFE.
anxiety and neverous with their retirement, this generation just start their adulthood to earn a living. retirement for them is many decades away!
Forget retirement, Gen z is in depression
Not all
Focus on health and have a minimalistic lifestyle
Mathematically you need 8 Cr to live comfortably in any Indian city.
Assuming average inflation is 6%. Keeping it in mutual fund will give 10% increase.
If you take out 4% out every year, your corpus increases 6% , so it keeps up with inflation.
4% of 8Cr is 32 lakhs
Taking tax at 30% slab, you get 22.4 lakhs/year.
That's not how tax works, you don't get taxed at 30% on the entire income.
bhai ...seems you are a biswas...means u a bengali... I reside in Kolkata, which is a big city. and the cost of living here is very very cheap. i believe a corpus of 2 crore is more than enough,( offcourse with a side earning from your passion). with 2 crore, you can have approx 10 lakh a year from interest after paying taxes and other stuff. Considering me, who wants to teach after retirement. i can earn a minimal amount of 3 lakh a year. so 13 lakh a year is more than enough if used well as well as re invested for more corpus...
8 crore is for people in banglore or those who want a city life having disco and drinks all the year round
@@dinosaur669 I said any Indian city, not only kolkata.
@@oliversmith2129 yeah I know. just keeping a bit of breathing space.
@@subham.biswas That's the problem with rough math. You calculated your tax at 9.6 L when it would actually be 6.7 L. That's 9% difference on your principal of 32 L.
When you earn around that level, you are very mindful of taxes.
How to uninstall utube can any tell me i am fed up these kind of news , podcast,early retirement,what to eat what not to ,what to buy ,wht not to buy
Instead of a long life I would prefer a short life
They feel born to enjoy, some of their parents did all hard work and some other did corruption to acheive this level.
who is Gen-Z? Can anyone provide the year?
Most Americans will have no government retirement money available.
cut down on ur expections and make smart decisions. wont have retirement worries.
If there is a job
There will be retirement
Where is the job
Most guys seems to be getting out of existing job very early or they are being sent home.
What next is the question.
Many jobs are there for name sake and don't even give life satisfaction.
Lets look at India - is why I watch these videos!