1 thing to factor into future elderly spending that isn't really happening now is technology usage and fluency. The current retirees are not the most fluent in using technology which means that at home purchases are lower than future generations will be when more technology fluent people retire. For instance I am a huge gamer and my spending fluctuates based on games coming out that I want to play and I imagine when I retire I will be super into gaming full time so the amount I spend on games may increase. I also use Amazon almost daily for deliveries. My grandpa never uses Amazon and so spend less money because he is only spending when he leaves home.
I have 2 pensions that inflation adjust each year to cover 2x my living expenses. I do not plan on doing any bonds, is that wis e? By the time the 2nd pension actually starts, ill have a paid off home and no kids at home. Im also tax gain harvesting as i have almost no taxable income every year.
@TheBestInterestPodcast thank you for the feedback! I'd love to help others on their financial journey but most if not all people I talk with don't really take the advice and wonder why nothing changes.
@TheBestInterestPodcast then you talk to them 10-20 years later and boy such a drastic difference. Your living a great life and they are wondering "where the luck came from".
Such a good breakdown of balancing risk in retirement planning! I’ve been trying out different options lately, including moving part of my portfolio into a crypto IRA with My Digital Money. Seems like a good way to diversify without getting too wild. What’s everyone else’s take on crypto for long-term planning?
![KSI - Dirty [Official Visualiser]](http://i.ytimg.com/vi/VoDh1h1dPUE/mqdefault.jpg)
Thank you for having me on Mile High FI, Doug!
You and Carl have built a fantastic community here.
1 thing to factor into future elderly spending that isn't really happening now is technology usage and fluency. The current retirees are not the most fluent in using technology which means that at home purchases are lower than future generations will be when more technology fluent people retire. For instance I am a huge gamer and my spending fluctuates based on games coming out that I want to play and I imagine when I retire I will be super into gaming full time so the amount I spend on games may increase. I also use Amazon almost daily for deliveries. My grandpa never uses Amazon and so spend less money because he is only spending when he leaves home.
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I have 2 pensions that inflation adjust each year to cover 2x my living expenses. I do not plan on doing any bonds, is that wis e? By the time the 2nd pension actually starts, ill have a paid off home and no kids at home. Im also tax gain harvesting as i have almost no taxable income every year.
@TheBestInterestPodcast thank you for the feedback! I'd love to help others on their financial journey but most if not all people I talk with don't really take the advice and wonder why nothing changes.
@TheBestInterestPodcast then you talk to them 10-20 years later and boy such a drastic difference. Your living a great life and they are wondering "where the luck came from".
Do you ever talk to people who live off of options income and never sell shares?
It's just taking more risk to get your withdrawal rate...
trading the last healthy years of your life, and shortening your lifespan, for a simulacrum of financial "safety" in your later years is a bum deal.
Such a good breakdown of balancing risk in retirement planning! I’ve been trying out different options lately, including moving part of my portfolio into a crypto IRA with My Digital Money. Seems like a good way to diversify without getting too wild. What’s everyone else’s take on crypto for long-term planning?
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@@MileHighFIPodcast No, lol