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I think this video will help a lot of Americans, really giving people hope of retirement. Retirement can be hard for lots of people and they need help planning every dollar while they can. Thank you for this video. Liked and subscribed.
Realistic and No BS guy! I have been following you for years now. You never disappoint. I grew up in the Philippines and lived here in Florida for 20 plus years.
My 92 yr old grandma is from the generation before 401k's, and her pension was misappropriated decades ago and went kapoot. She has been living on just SS since 1994 and she does fine. At that age, you don't "run and gun" anymore.
I have long been a proponent of moving overseas. Places like Thailand, Philippines, Cambodia and Vietnam are all cheaper to live in and as a whole your quality of life will be better as long as your in a major city. Any one of the countries I listed will give you a very good lifestyle for around $1500 a month.
Glad you mentioned the overseas option. I am actually wanting to retire at 61 or 62 and live in the Philippines or Thailand until I turn 65 and can get Medicare. Pacific Cross (Blue Cross) insurance plans is about $250 a month or less depending on what options you select. You can easily live in Cebu, Manila, Bangkok, Pattaya for $2,000 a month as a single person living in a nice condo with Swimming Pool, gym, sauna. Now the more you can raise your budget the more things you can do. You can take vacations Philippines to Puket Thailand for 1 week and only cost at a min of $500 -$600 or more based on your room and if you party, but airfare is only going to be about $200 of the cost of the vacation. When I schedule my appointment with you this will be one of the scenarios we will walk thru. The 2nd scenario will be what if I just stay at one of these locations and what does that look like. Again glad you are thinking of these possibilities as some people look at you cross-eyed when I mention these options and I want someone that is on the same page as myself when we build this plan.
Just reached 21.000 after 1 year of savings and now 3 months of steadily investing in ETF. Can't wait to reach 100k. Zero debt , zero credit card ever. Piano teacher Credits to my FA Dianne Sarah Olson.
Awesome, Drew! Im glad that you are covering other options in this video. Moving overseas is definitely a good option, an option that not many advisors cover in their presentations. Thank you!
I'm cheap. I live on less than $3000. I don't drive. I have to pay for grocery delivery. It adds about $15 for every delivery but I don't buy groceries every week. Generally, I buy groceries once a month and have a monthly shipment from Amazon. The delivery costs are lower than auto insurance and car payments and maintenance. I retired at 62. Since I retired young I have a part time job and I don't use my retirement savings. I have moved some of my Traditional IRA to Roth IRA. I am hoping not to live off my retirement savings until I'm 70. I also have some money not in retirement to use for traveling and some fun things. I have more than $100,000 in retirement--so I'm cheating a bit. I'll be spending more than 4% a year. I look at the predicted amount of time I have left and convert it into months. I want $1000 a month. I've got social security, a pension and some interest.
@@kauigirl808 Got you beat... $592.04/mo was my average spend the past 21 months. Is there a prize? My house has appreciated little under $2000/mo the past 15 years. Crazy thing is next here I plan to sell my Phoenix house and move to SE Asia with $6100/mo income and $500k banked for medial events. I actually enjoy living on $600/mo and have for 22 years. No idea how I'll spend 10x that. I will have to be careful though and not go too nuts. Hope to take a cruise from US to SE Asia instead of flying.
I know people around those figures. They have always lived frugal. No debt. They are happy and peaceful and sort of work part time. Lot of people out there with limited resources. They take care of everything themselves
I liked this video as it’s made for us average folks who struggled to save just 100k for retirement. Makes me less anxious. Went late to the 401k game. I am upping my contributions to hit that 100k mark. Living overseas is not an option for me. Still will carry debt into retirement but preparing a game plan to help deal with it.
I really appreciate your videos!! Haven’t found many like yours, with options and suggestions for retiring with less. THANK YOU! :) My partner and I plan to live overseas too
I appreciate your information and the way you deliver it. Very helpful for those of us who are not millionaires! The scenarios/examples are great. Thank you
I'd look at the numbers very closely if your goal is to save money in another country and then return to the US. The budget numbers you hear are always for once established. Airfare, visas, visa runs, are rarely included. The big one is cost to get established. Finding a decent low cost place to rent can take months and require several moves. You have to buy all your dishes, furniture, everything and these things cost about the same as in the US. Labor is what's cheap in these other countries. The $1000-1500/mo number in PH is based on being in a long term relationship with a Filipina. That's why 99% of men retire to PH. They can entertain each other. That saves a guy $500/mo or more in additional entertainment costs. It can take some time to find such a good partner. After 3 years you have to get established again in the US. If you own a house you rent out while out of the country then cool you can move back. But if renting what's rent going to be in 3 years? All your savings may go to higher rent.
Correct. And average isn't most people. My average spend in Phoenix has been $592.04/mo over the past 21 months. Most Americans I assume would consider that impossible and be happy. I could take SS today at $3100/mo but I have no need yet. I am planning to move to SE Asia next year. At that time my income will be $6100/mo with $500k in the bank from the sale of my Phoenix home. So I'm far from average on both ends of the example.
Even worse in the UK. Our equivalent is the state pension. It's £11502 per year at age 66 and soon to be 67. Here, a lot of people will never be able to retire. We still have the National Health Service with provides full medical care for everyone. If you rent a property here at pension age, then you are pretty much stuffed. Good video.
Same everywhere. Live for today and have no savings or save for retirement. Both are reasonable lifestyle choices but yeah stuffed in old age with no savings. There are a huge number of men from UK in PH with less income than £11502. That's actually considered a good income. They live with an attractive much younger fun Filipina so she lowers his entertainment cost. Many guys love the climate more than in UK. They complain about the heat but people love to complain. You lose NHS but these guys don't seem to mind as their "live for today" thinking continues. Medical is cheaper in SE Asia but not free. Insurance is available but costs increases with age so by 80 there's no way on low income. The question is do you remain in UK being stuffed or move to SE Asia and live well for 10, 20 years and then maybe end up stuffed with health issues?
I like the thought that if you're a single person retiring with another elderly person or so to keep you company. As long as you guys are on the same wavelength of respect, I mean he heck, ye
99% of Americans retiring to PH are single men. The reason is because they easily find a great woman to keep them company, marry and is willing to care for him through the rest of his life. These women ask for very little and many guys say their Filipina saves them money. That's kind of true. The $1000-1500 number in the video said to be a good income in PH is what Americans there are reporting. But that low number is made possible by their Filipina partner. Without a Filipina partner a guy would likely be extremely bored and have to spend a lot more on entertainment. There are a few females I've seen move to SE Asia and get a young male partner and they seem very happy. The problem seems to be the long list of requirements American women have for a man. An American woman is 100% the income provider. SE Asian men are generally much shorter with 5'5" in height being "tall" and manhood shorter average too. So the 6/6/6 requirements US women have is 0/5/5 in SE Asia. Not their cup of tea.
I've taken two exploratory trips to the Philippines with the idea of retiring there in a few years at 62. There are lots of pros and cons. For myself, the main pros are the cheaper cost of living, and the young female gold diggers. The main cons for me are the humidity, and the young female gold diggers. 😅
You can definitely survive in The Philippines on $1,000/mo but you may have to sacrifice some comforts like a/c and western food. I think the sweet spot for westerners is around $1,500 to 2,500/mo. There are many expat budget videos on RUclips, so do your homework. And plan on taking a trip out there to check out a few cities before selling everything.
I agree a more realistic budget is $1500+ and some Tubers are starting to say $2000 is the new min. Which brings up an issue no Tubers want to see. These countries are not as stable as the US. A few years ago Ecuador was a hot destination country. With increased violence that's changed. Same with Columbia. A lot of expats brought property and now stuck. Renters have to find a new country and that all costs money. Inflation and currency changes can cause problems. Rent in PH have gone up even more than in the US especially in areas expats want to be. PH has to import rice. If there's any kind of problem in the world causing rice production to drop PH will be in serious trouble and it will not be fun to live there. Got to stay flexible with multiple exit plans imo. I disagree on the standard advice of taking a trip to check out another country. That's called a "vacation". Go to FL, visit Disney World, the beaches, stay in nice hotels and you're going to be loving FL. Moving there is an entirely different experience. If you have the means and desire to slow travel for 3-4 years then you can get an idea. My plan is to go Cortez. No idea where in SE Asia I'll end up, but I'm burning my ship and staying there for the rest of my life. Years of research to make sure the numbers work and I can deal with medical care there. It focuses the mind on how to be happy there rather than comparing it to back home. Back home is comfortable. It takes years to get that comfortable again in a new place. But 100's of millions of people are happy in SE Asia. Why can't I learn to be happy there too?
Sell that house combine it with your 401k and take both and put it into dividend investments. Live off the dividends and social security that you take at 67 move to a low cost country.
That's been my plan minus the 401k. You may be saving too much. Above a $3000/mo income in SE Asia starts to get a little silly. A 4 bedroom penthouse condo doesn't increase happiness that much more than a nice 2 bedroom condo. You can live in BGC with US level spending but BGC gets small fast. Next year I'll sell my Phoenix home and net $500k generating $2000/mo @ 5%. That cash will also be my medical event buffer. With SS my total income will be $6100/mo. It's a nice problem to have, but $6100/mo is not that easy to spend wisely. Easy to waste of course. But I doubt it will 3x my happiness. If I had another $200-600+k in retirement savings how would I spend it? A lot of guys with a lot of money buy land and a huge mansion for their 23 year-old girlfriend lifetime partner. Title has to be in a local's name so girlfriend goes on title. Then she kicks him out of her house. Not a great plan.
Agree! I would prefer south or southeastern Europe, before South America or Caribbean. But, it’s personal preference and personal background. European countries can offer much more for the money than any US state. I have retired family members on the both continents so I can see the difference. Anyway, plan wise! 😁🍷
This seems to be a difference in women and men. Women for some reason overwhelmingly pick countries close to the US or Europe which is very similar to the US. Bali does get a fair number of US women. The safe sounding bets. Couples too as the woman dictates the choice. Single men overwhelmingly pick SE Asia. Many go other places but SE Asia is a magnet. Originally it was mainly ex-military. I assume having lived around the world ex-military have less fear. But in the last 20 years the word has been out and now many single men head to SE Asia. It's mainly the women. Great young attractive intelligent fun women eager or partner up, marry with Americans of any age, height, looks. Yup it's mainly about the money, but these women aren't demanding and can save a man about $500/mo on other costs. We as Americans of either gender are fortunate to have so many choices.
$1000 / month in the Philippines would be tough for the average American. You'd have to live much more like a Filipino than an American. Nothing wrong like that but it may be a culture shock for most Americans. $1500 would be much better but it'd still be tight. Medicare does not work here so you need to save for your medical expenses which you'll most likely pay in cash.
I retired at 59 and am currently living in the Philippines. You can live on $1500 a month in the Philippines. However, I would recommend a $2000 budget to be able to have health insurance and be able to travel some.
Let's talk health insurance. At 59 health insurance may fit a person's budget if healthy. Any existing health issues means higher rate or not being excepted. As you age the insurance cost increases a lot. By 70 and 80 the cost is extremely high. It's not like Medicare at all. IMO $20k in savings just for medical is wise. $100k is smart and $500k no worries for great care not matter what. All expat Tubers I've watch kind of skip over the long term picture for medical. They assume nothing will ever change.
Drew in the single scenario and moving overseas, what happens to the home? If sell, then he has all that extra money to live. If he comes back to the USA, then he has to buy or rent here at a higher cost.
Got to have a plan. I'm planning to sell my Phoenix house and move to SE Asia. My other choice was to sell and move to Cairo IL. I can buy a house there for under $10k and I like the adventure of living in such a place. I can walk to world class catfishing which is safe to eat and I love eating. I'm not planning to return to the US but if I did I could take the Cairo IL path. However that seems unlikely. I'm 68 and healthy but can read a calendar. Someday soon I will want/need help and that will increase with age. This is where SE Asia really shines. A live-in housekeeper is $75-200/mo and she takes care of everything 6 days a week and some elder care. A fully trained live-in caregiver is $500-1000/mo. There are long term retirement resorts that max out at $4000-6000 for everything, private 24/7 nurse, meals, etc... in a 2 bedroom villa. Or most guys just marry a great young woman there who is happy to care for him for the rest of his life. These are the best caregivers in the world at any price.
@waterbug1135 I see a lot of those videos on RUclips about retiring to Southeast Asia also. I don't buy it myself but good luck, maybe it's fun to vacation there sometime.
I'm single in So. Cali, 66yo, still wrking p/t, still have Mortgage 111K, bout 100K in assests. So TOUGH spot but the idea of moving to Mexico or Philippines w HOT temps & HIGH Humidity- FORGET IT!
I live in So Cal and feel the same with weather. I enjoy the outdoors and the weather is decent most of the time. If it’s too hot, like it usually is during the summer, I drive 1 hour to the beach or mountains. On a cold day, I drive 1 hour to the desert and enjoy beautiful weather in the winter. Millions of people figure out how to have high quality of life in CA despite the high cost of living.
Sure if you don't want to do any research then great, S CA is for you. Great climate but there is a cost. Malibu is nicer than the San Fernando valley. Hawaii is nice too for a little more money. How about 75F highs everyday of the year? Is that TOO HOT? These are equatorial cities at 4000+ ft altitude. Baguio PH, Da Lat Vietnam, Medellín, Colombia and others. And wow the produce in these cities is like nothing you've ever seen. Or would you like 80F high everyday? There are cities at 3000' for that. Couple hour drive, short flight to the HOT HUMID beach resorts for vacations if you want. The difference is you can't live on the beach AND have a cool climate. But not many can live on the beach in S CA either.
Well I love looking at these scenarios. I retired from the military after 23.5 years. I currently work for the DoD and working on a 2nd retirement pension which will be small. Also working on building a TSP nest egg. Getting disability and will take S.S. when I think it's best for me and the Mrs. I am grateful that our medical is covered and pray we live to see 100. Sometimes you just need to be thankful for what God gives us. Good luck to everyone else and God bless.
Can, but location isn't the determining factor. I've lived rural and city, many places. Currently in central Phoenix. My spend has averaged $592.04/mo over the past 21 months. My house appreciated almost $2000/mo average the past 15 years. That net would be hard for me to beat living rural. If you rent then rural can be cheaper. I can walk to most everything. I fill my car's 10 gal tank 1 or 2 times a year and my car will outlast me. Great hospitals a 20 minute walk. About 15 large grocery stores in walking distance. Common for me to hit different stores for their best on sale items each week on foot. To drive to each store would cost more than I'd save. Free food is abundant in the city. About 1/2 my food is free. Canal and lake walking distance to catching carp, catfish, bass and stocked trout in winter. Lot's a places giving away food. I walk 2 hours a day and often find food people set out for some reason. The Phoenix climate also reduces cost a lot. It depends on how a person wants to live much more than the location. If you have fun growing food and animals and doing rural fun things then rural can be cheap. But if you're wanting to drive 20-30 miles or more to...everything else, the cost can be more than city.
Hey Drew, At 52, I will be debt free in Oct. No house, as I work seasonal jobs around the country...currently at the Grand Canyon. I currently make around 37,000/ yr after tax and plan on maxing out a Roth IRA, invest 30% into my companys 3% Roth 401k, giving myself 5 years to accumulate and save 100k at 57, then slow down my savings rate. Giving myself 5 to 10 years of growth before taking SS benefits...Staying zero debt, and living frugaly, I am wondering if this is a good plan and enough to mostly retire?
Mark, check out some RUclips videos on Philippines. English is the second language there. Signs are in English, radios and tv also. In fact, Stores and restaurants we have here in the US they also have there, especially in the larger cities. If I am not mistaken, it ranks in the top five English speaking country in the world. Hope this helps!
@ I love your videos! My forever home is being prepared. The New Jerusalem where I have an inheritance that will never end. Blessed be the God and Father of our Lord Jesus Christ, which according to his abundant mercy hath begotten us again unto a lively hope by the resurrection of Jesus Christ from the dead, 1:4 To an inheritance incorruptible, and undefiled, and that fadeth not away, reserved in heaven for you, 1:5 Who are kept by the power of God through faith unto salvation ready to be revealed in the last time.
Yes I can retire with 100k.I have a pension then move to south east asia.SSI should be 2500 at 62.Thats the only way.100k only no not unless you are a super trader.Happy investing/stacking.
they are all screwed sequence of return. haven't replaced their car, furnace, AC, roof,.... BUT people still have to have some kind of idea how bad they have been screwing them selves.
I’d just like to ask a question, you say $1700ish per month for S.S. , but my paper I get in the mail says if I retire even now ( at 64) my figure is $2351./mo. What am I missing ?
I made the mistake of assuming SS will not exist. I'm 68 and my whole life everyone I heard said SS wouldn't be around. I retired at 45 assuming SS wouldn't be around or mine would be almost nothing. If I took it today it'd be $3100/mo. I don't need it, but gee, sure is nice. And the COLA is a great hedge. This current "run out in 2035" is not the first "it'll run out scare. SS was predicted to run out in 1983 too. Congress passed some reforms in Aug 1983 and put SS back on track. After that's SS predictions of running out in 2050 started and then back to 2035. That could be scaled back to 2034, 2030, whatever depending on many factors. At some point Congress will pass a new set of reforms and/or move money into the SS trust fund account. SS is not a standalone business. It's a Federal government program. When people say "SS is running out" they're talking about the SS trust fund account. Like your checking account. If your checking runs low you move money from savings into checking. You don't run out of money just because 1 account runs down. The reason I say this is because it would have been smarter for me to understand how SS works and also not believe morons. If I'd stopped working too early I'd get $0 SS. That would have been good info. I got super lucky because I earned a lot of money early in my career, maxed SS withdrawals. Those contributions got adjusted over the decades to give me the $3100/mo even through I had years of $0 contributions (SS uses highest 35 year earnings). If I'd understood how SS works I may have continued working another 10 years. I loved my career and what have been happy doing that. I could get an extra $1000/mo SS today. Not a huge difference and I don't need it, but still I may have made that choice. SS is imo the best retirement element a person can have in the entire world. Don't believe the morons.
What happens when you retire at 62 continue working when you reach 67 do they pair to 67 years amount?Another question is if you have 401 k when you take 4 % as your example you have to pay taxes so it’s not the same amount calculated right? How the % work in your 401 k . Is there a table for that? Thanks a lot!
And most other countries in SE Asia are cheaper than PH. The 40% or whatever number is based on an arbitrary lifestyle and is not an apples to apples comparison. Rent is cheaper but food is about the same or more. Electric is more, water is less. Visa costs more of course. Medical is cheaper by charged amount but there's no Medicare. So we can say medical is cheaper but costs you a lot more. There is health insurance but only reasonable if healthy and under say 75. My spend the last 21 months in Phoenix has averaged $592.04/mo. There's no way I could enjoy the same lifestyle in PH for that. However if we add a 25 year-old attractive trim intelligent Filipina thrilled to live with me into the equation then PH is not just cheaper, it's only possible in PH.
It's a same how few details are given in where these example numbers are defined. All the financial advisor channels just put up some "average" and don't define the parameters. I assume they're talking to viewers they don't think can understand anything. Makes sense because those viewer would be more likely to pay for a financial advisor. These videos are just commericials. I retired 22 years ago at 45 with about $100k cash. I did have $400k in home equity and Drew never said if home equity was included in his $100k or less number. I assume home equity is included because 65% have under $100k means 35% have more and the number wasn't limited by age. The only way 35% of all Americans have more than $100k is via home equity since 60% of adults own. My total spend has averaged $592.04/mo over the past 21 months. My house has appreciated just under $2000/mo on average over the past 15 years. I am planning a move to SE Asia next year but mainly for adventure. Partly to get set up for extreme old age. Where SE Asia and some other countries really shine is low cost labor. A live-in housekeeper is $75-200/mo USD plus food. And long term retirement resorts max out at $4000-6000/mo for full care, private nurse, meals, private apartment, etc... My budget in SE Asia will be $6100/mo with $500k in the bank. True $1000-1500 is a decent budget in SE Asia but that's basic for an American. $2000/mo is good an $3000/mo great. BUT that's while healthy. It is easy for men to meet a great young woman happy to marry an American and take care of him for the rest of his life. Locals call these women "caregivers". 99% of Americans retiring to PH are men. PH is not the cheapest country in SE Asia. Only Singapore is more expensive. But the difference isn't a lot. Other countries get 10-20x more tourists than PH because of problems in PH. Lot's of trash, many loose dogs, rooster noise, dog noise, karaoke noise, worse food, poor infrastructure and service, on and on. The only reason men move to PH is for meeting and being in a long term relationship with a woman.
Okay, so i'm going to be saving in a tfsa and putting some of that into stocks monthly. Is that an okay way to invest? I have no other savings. I don't want to do r s.V p
@@yourfinancialekg Right but it doesn't answer the question: is this before or AFTER part B is deducted? My guess is that it is BEFORE the dedication. Of course averages are just that - not a true reflection of what most people get as those with maximum SS are being calculated into the final average. What do YOU think most people get after taxes?
@@randall8379$1700 is usually before Part B deduction of $189. You would need a drug plan with it and they’re not that expensive. Talk with a Medicare agent to talk about your insurance needs. Good luck.
And pray to have good health; I know health cost is much cheaper in Southeast Asia, but your money will burn fast if you have a health condition and require constant hospital visits. This is why I think it’d be better to move back to the state around 70. :)
Interesting that when I turn 61 years old SS may get a haircut. I wish the U.S. spending on wars, gender reassignment, and other insane government spending got the haircut first.😮
I’m not a fan of Suzy Orman. She use to sell her financial wares on QVC. I remember watching her show on CNBC, I believe. Her favorite line was, is it a need or a want? I often wondered if what she was selling on QVC was a need or a want. I can get sound financial advice online and it’s free.
If only you and other experts could/would specify 'before' or 'after' taxes' after every statement, it would go a long way to clearing up a lot of ambiguity, confusion, and wrong assumptions and conclusions. - For example, is that average ss payment Before or After Taxes?. etc. etc... and so on and so on.
**Schedule your virtual consultation, click here: pearlwealthgroup.com/contact/ or use our calendar link: calendly.com/pearlwealthgroup/discoverycall **
I think this video will help a lot of Americans, really giving people hope of retirement. Retirement can be hard for lots of people and they need help planning every dollar while they can. Thank you for this video. Liked and subscribed.
Thank you!
Stop the scam!
Realistic and No BS guy! I have been following you for years now. You never disappoint. I grew up in the Philippines and lived here in Florida for 20 plus years.
Thanks for following and watching!!
My 92 yr old grandma is from the generation before 401k's, and her pension was misappropriated decades ago and went kapoot. She has been living on just SS since 1994 and she does fine. At that age, you don't "run and gun" anymore.
Grandma is a tough cookie! That generation is hard wired to survive.
God bless her 🙏❤️
No doubt she gets a lot of financial help from different government programs but there is nothing wrong with that
I have long been a proponent of moving overseas. Places like Thailand, Philippines, Cambodia and Vietnam are all cheaper to live in and as a whole your quality of life will be better as long as your in a major city. Any one of the countries I listed will give you a very good lifestyle for around $1500 a month.
There are a lot of people even living in DR doing the same. It’s definitely an option to be able to retire early abroad.
Thanks for sharing!
No Way Jose WAY TOO HIGH HUMIDITY for me!!
Moving to Portugal in 6 weeks, we can afford to live in retirement 🎉❤
@@gonebananas1076 A lot of people are doing the same thing to be able to retire early.
I love your approach and the fact that you mentioned living outside the US as an option. My husband and I will be booking an appointment soon.
Excited to visit with you!
I really like how you break things down on the white board. It keeps it simple for me to follow along. That's me, simple...
Thanks for watching!
Glad you mentioned the overseas option. I am actually wanting to retire at 61 or 62 and live in the Philippines or Thailand until I turn 65 and can get Medicare. Pacific Cross (Blue Cross) insurance plans is about $250 a month or less depending on what options you select. You can easily live in Cebu, Manila, Bangkok, Pattaya for $2,000 a month as a single person living in a nice condo with Swimming Pool, gym, sauna. Now the more you can raise your budget the more things you can do. You can take vacations Philippines to Puket Thailand for 1 week and only cost at a min of $500 -$600 or more based on your room and if you party, but airfare is only going to be about $200 of the cost of the vacation. When I schedule my appointment with you this will be one of the scenarios we will walk thru. The 2nd scenario will be what if I just stay at one of these locations and what does that look like. Again glad you are thinking of these possibilities as some people look at you cross-eyed when I mention these options and I want someone that is on the same page as myself when we build this plan.
Thanks for sharing!
Congrats on 20,000 subscribers Drew.
Thank you!
Automatically thunbing up before the premiere
Thank you!
Just reached 21.000 after 1 year of savings and now 3 months of steadily investing in ETF.
Can't wait to reach 100k.
Zero debt , zero credit card ever.
Piano teacher Credits to my FA Dianne Sarah Olson.
Congratulations!
SCAMMER ALERT ‼️
Awesome, Drew! Im glad that you are covering other options in this video. Moving overseas is definitely a good option, an option that not many advisors cover in their presentations. Thank you!
I'm cheap. I live on less than $3000. I don't drive. I have to pay for grocery delivery. It adds about $15 for every delivery but I don't buy groceries every week. Generally, I buy groceries once a month and have a monthly shipment from Amazon. The delivery costs are lower than auto insurance and car payments and maintenance. I retired at 62. Since I retired young I have a part time job and I don't use my retirement savings. I have moved some of my Traditional IRA to Roth IRA. I am hoping not to live off my retirement savings until I'm 70. I also have some money not in retirement to use for traveling and some fun things. I have more than $100,000 in retirement--so I'm cheating a bit. I'll be spending more than 4% a year. I look at the predicted amount of time I have left and convert it into months. I want $1000 a month. I've got social security, a pension and some interest.
How is that relevant
Thanks for sharing!
Appreciate your details. I'm in similar circumstances expenseswise.
I live off less then 1k a month. I'm way cheaper 😂😂 I got roommates.
@@kauigirl808 Got you beat... $592.04/mo was my average spend the past 21 months. Is there a prize? My house has appreciated little under $2000/mo the past 15 years.
Crazy thing is next here I plan to sell my Phoenix house and move to SE Asia with $6100/mo income and $500k banked for medial events. I actually enjoy living on $600/mo and have for 22 years. No idea how I'll spend 10x that. I will have to be careful though and not go too nuts. Hope to take a cruise from US to SE Asia instead of flying.
I know people around those figures. They have always lived frugal. No debt. They are happy and peaceful and sort of work part time. Lot of people out there with limited resources. They take care of everything themselves
Agreed
Thumbs up in advance from St.Louis
Awesome!!
I liked this video as it’s made for us average folks who struggled to save just 100k for retirement. Makes me less anxious. Went late to the 401k game. I am upping my contributions to hit that 100k mark. Living overseas is not an option for me. Still will carry debt into retirement but preparing a game plan to help deal with it.
I really appreciate your videos!! Haven’t found many like yours, with options and suggestions for retiring with less. THANK YOU! :)
My partner and I plan to live overseas too
I appreciate your information and the way you deliver it. Very helpful for those of us who are not millionaires! The scenarios/examples are great. Thank you
You're very welcome!
Thanks. My plan live in Belice(english official language) 3 years. Save money and then come back. Thanks for making it simple😊
Glad it was helpful!
I'd look at the numbers very closely if your goal is to save money in another country and then return to the US. The budget numbers you hear are always for once established. Airfare, visas, visa runs, are rarely included. The big one is cost to get established. Finding a decent low cost place to rent can take months and require several moves. You have to buy all your dishes, furniture, everything and these things cost about the same as in the US. Labor is what's cheap in these other countries.
The $1000-1500/mo number in PH is based on being in a long term relationship with a Filipina. That's why 99% of men retire to PH. They can entertain each other. That saves a guy $500/mo or more in additional entertainment costs. It can take some time to find such a good partner.
After 3 years you have to get established again in the US. If you own a house you rent out while out of the country then cool you can move back. But if renting what's rent going to be in 3 years? All your savings may go to higher rent.
People confuse average with needed. Totally different.
Yup
Correct. And average isn't most people.
My average spend in Phoenix has been $592.04/mo over the past 21 months. Most Americans I assume would consider that impossible and be happy. I could take SS today at $3100/mo but I have no need yet.
I am planning to move to SE Asia next year. At that time my income will be $6100/mo with $500k in the bank from the sale of my Phoenix home.
So I'm far from average on both ends of the example.
Even worse in the UK.
Our equivalent is the state pension.
It's £11502 per year at age 66 and soon to be 67.
Here, a lot of people will never be able to retire.
We still have the National Health Service with provides full medical care for everyone.
If you rent a property here at pension age, then you are pretty much stuffed.
Good video.
Thanks for sharing and watching!
Same everywhere. Live for today and have no savings or save for retirement. Both are reasonable lifestyle choices but yeah stuffed in old age with no savings.
There are a huge number of men from UK in PH with less income than £11502. That's actually considered a good income. They live with an attractive much younger fun Filipina so she lowers his entertainment cost. Many guys love the climate more than in UK. They complain about the heat but people love to complain.
You lose NHS but these guys don't seem to mind as their "live for today" thinking continues. Medical is cheaper in SE Asia but not free. Insurance is available but costs increases with age so by 80 there's no way on low income.
The question is do you remain in UK being stuffed or move to SE Asia and live well for 10, 20 years and then maybe end up stuffed with health issues?
@waterbug1135 Great point but I don't think my wife would be so happy as she works full time.
Cheers. 👍
I like the thought that if you're a single person retiring with another elderly person or so to keep you company. As long as you guys are on the same wavelength of respect, I mean he heck, ye
99% of Americans retiring to PH are single men. The reason is because they easily find a great woman to keep them company, marry and is willing to care for him through the rest of his life. These women ask for very little and many guys say their Filipina saves them money. That's kind of true. The $1000-1500 number in the video said to be a good income in PH is what Americans there are reporting. But that low number is made possible by their Filipina partner. Without a Filipina partner a guy would likely be extremely bored and have to spend a lot more on entertainment.
There are a few females I've seen move to SE Asia and get a young male partner and they seem very happy. The problem seems to be the long list of requirements American women have for a man. An American woman is 100% the income provider. SE Asian men are generally much shorter with 5'5" in height being "tall" and manhood shorter average too. So the 6/6/6 requirements US women have is 0/5/5 in SE Asia. Not their cup of tea.
I've taken two exploratory trips to the Philippines with the idea of retiring there in a few years at 62.
There are lots of pros and cons. For myself, the main pros are the cheaper cost of living, and the young female gold diggers.
The main cons for me are the humidity, and the young female gold diggers. 😅
Then, avoid these ladies!😅
You can definitely survive in The Philippines on $1,000/mo but you may have to sacrifice some comforts like a/c and western food.
I think the sweet spot for westerners is around $1,500 to 2,500/mo.
There are many expat budget videos on RUclips, so do your homework. And plan on taking a trip out there to check out a few cities before selling everything.
I agree a more realistic budget is $1500+ and some Tubers are starting to say $2000 is the new min. Which brings up an issue no Tubers want to see. These countries are not as stable as the US. A few years ago Ecuador was a hot destination country. With increased violence that's changed. Same with Columbia. A lot of expats brought property and now stuck. Renters have to find a new country and that all costs money.
Inflation and currency changes can cause problems. Rent in PH have gone up even more than in the US especially in areas expats want to be. PH has to import rice. If there's any kind of problem in the world causing rice production to drop PH will be in serious trouble and it will not be fun to live there.
Got to stay flexible with multiple exit plans imo.
I disagree on the standard advice of taking a trip to check out another country. That's called a "vacation". Go to FL, visit Disney World, the beaches, stay in nice hotels and you're going to be loving FL. Moving there is an entirely different experience.
If you have the means and desire to slow travel for 3-4 years then you can get an idea.
My plan is to go Cortez. No idea where in SE Asia I'll end up, but I'm burning my ship and staying there for the rest of my life. Years of research to make sure the numbers work and I can deal with medical care there. It focuses the mind on how to be happy there rather than comparing it to back home. Back home is comfortable. It takes years to get that comfortable again in a new place. But 100's of millions of people are happy in SE Asia. Why can't I learn to be happy there too?
Sell that house combine it with your 401k and take both and put it into dividend investments. Live off the dividends and social security that you take at 67 move to a low cost country.
Good idea
That's been my plan minus the 401k. You may be saving too much. Above a $3000/mo income in SE Asia starts to get a little silly. A 4 bedroom penthouse condo doesn't increase happiness that much more than a nice 2 bedroom condo. You can live in BGC with US level spending but BGC gets small fast.
Next year I'll sell my Phoenix home and net $500k generating $2000/mo @ 5%. That cash will also be my medical event buffer. With SS my total income will be $6100/mo. It's a nice problem to have, but $6100/mo is not that easy to spend wisely. Easy to waste of course. But I doubt it will 3x my happiness. If I had another $200-600+k in retirement savings how would I spend it? A lot of guys with a lot of money buy land and a huge mansion for their 23 year-old girlfriend lifetime partner. Title has to be in a local's name so girlfriend goes on title. Then she kicks him out of her house. Not a great plan.
At $100k, better plan on living overseas. There's many nice places to live overseas. The Caribbean, Mexico, Costa Rica, Panama. Asia is too far away
Yes!
Agree! I would prefer south or southeastern Europe, before South America or Caribbean. But, it’s personal preference and personal background. European countries can offer much more for the money than any US state. I have retired family members on the both continents so I can see the difference. Anyway, plan wise! 😁🍷
This seems to be a difference in women and men. Women for some reason overwhelmingly pick countries close to the US or Europe which is very similar to the US. Bali does get a fair number of US women. The safe sounding bets. Couples too as the woman dictates the choice.
Single men overwhelmingly pick SE Asia. Many go other places but SE Asia is a magnet. Originally it was mainly ex-military. I assume having lived around the world ex-military have less fear. But in the last 20 years the word has been out and now many single men head to SE Asia. It's mainly the women. Great young attractive intelligent fun women eager or partner up, marry with Americans of any age, height, looks. Yup it's mainly about the money, but these women aren't demanding and can save a man about $500/mo on other costs.
We as Americans of either gender are fortunate to have so many choices.
Thank you for the information
You bet!
$1000 / month in the Philippines would be tough for the average American. You'd have to live much more like a Filipino than an American. Nothing wrong like that but it may be a culture shock for most Americans. $1500 would be much better but it'd still be tight. Medicare does not work here so you need to save for your medical expenses which you'll most likely pay in cash.
Really great point about living abroad and having to live like the locals rather than living like an American.
Thanks for sharing!
Do an annual MD checkup in Guam (US territory and accept Medicare) if you decide to retire in Asia
I retired at 59 and am currently living in the Philippines. You can live on $1500 a month in the Philippines. However, I would recommend a $2000 budget to be able to have health insurance and be able to travel some.
Great advice!
Let's talk health insurance. At 59 health insurance may fit a person's budget if healthy. Any existing health issues means higher rate or not being excepted. As you age the insurance cost increases a lot. By 70 and 80 the cost is extremely high.
It's not like Medicare at all. IMO $20k in savings just for medical is wise. $100k is smart and $500k no worries for great care not matter what.
All expat Tubers I've watch kind of skip over the long term picture for medical. They assume nothing will ever change.
Healthcare is the biggest variable
Thank U ❤
You're welcome 😊
Drew in the single scenario and moving overseas, what happens to the home? If sell, then he has all that extra money to live. If he comes back to the USA, then he has to buy or rent here at a higher cost.
rent lower.
That's true Bucky. Home equity could be an asset to use. The renting part is tricky but just trying to show a way back.
Got to have a plan.
I'm planning to sell my Phoenix house and move to SE Asia.
My other choice was to sell and move to Cairo IL. I can buy a house there for under $10k and I like the adventure of living in such a place. I can walk to world class catfishing which is safe to eat and I love eating.
I'm not planning to return to the US but if I did I could take the Cairo IL path.
However that seems unlikely. I'm 68 and healthy but can read a calendar. Someday soon I will want/need help and that will increase with age. This is where SE Asia really shines. A live-in housekeeper is $75-200/mo and she takes care of everything 6 days a week and some elder care. A fully trained live-in caregiver is $500-1000/mo. There are long term retirement resorts that max out at $4000-6000 for everything, private 24/7 nurse, meals, etc... in a 2 bedroom villa.
Or most guys just marry a great young woman there who is happy to care for him for the rest of his life.
These are the best caregivers in the world at any price.
@waterbug1135 I see a lot of those videos on RUclips about retiring to Southeast Asia also. I don't buy it myself but good luck, maybe it's fun to vacation there sometime.
0: house payment, 0: car payment, 0: debit, 2100 social security at 62 I am out of here. 👋
Do it!
What does 2100 mean? Do you have savings?
@@TanyaDavis954 He wrote "social security".
I'm single in So. Cali, 66yo, still wrking p/t, still have Mortgage 111K, bout 100K in assests. So TOUGH spot but the idea of moving to Mexico or Philippines w HOT temps & HIGH Humidity- FORGET IT!
Cali has the best weather
Northern Portugal is a cool climate and can be very affordable 👌 🎉❤
I live in So Cal and feel the same with weather. I enjoy the outdoors and the weather is decent most of the time. If it’s too hot, like it usually is during the summer, I drive 1 hour to the beach or mountains. On a cold day, I drive 1 hour to the desert and enjoy beautiful weather in the winter. Millions of people figure out how to have high quality of life in CA despite the high cost of living.
Sure if you don't want to do any research then great, S CA is for you. Great climate but there is a cost. Malibu is nicer than the San Fernando valley. Hawaii is nice too for a little more money.
How about 75F highs everyday of the year? Is that TOO HOT? These are equatorial cities at 4000+ ft altitude. Baguio PH, Da Lat Vietnam, Medellín, Colombia and others. And wow the produce in these cities is like nothing you've ever seen.
Or would you like 80F high everyday? There are cities at 3000' for that.
Couple hour drive, short flight to the HOT HUMID beach resorts for vacations if you want.
The difference is you can't live on the beach AND have a cool climate. But not many can live on the beach in S CA either.
The answer to every one of these Can I retire videos is: "No, keep working!"
Because these “experts” don’t want you to start withdrawing money from YOUR accounts.
Well, if a person hasn't saved any money for retirement and is in debt what's your suggestion? How to Rob a Bank video?
Well I love looking at these scenarios. I retired from the military after 23.5 years. I currently work for the DoD and working on a 2nd retirement pension which will be small. Also working on building a TSP nest egg. Getting disability and will take S.S. when I think it's best for me and the Mrs. I am grateful that our medical is covered and pray we live to see 100. Sometimes you just need to be thankful for what God gives us. Good luck to everyone else and God bless.
Thank you for your service 🇺🇸
You don’t get both disability AND social security.
Rural versus city living makes a difference in costs too.
Yes
Can, but location isn't the determining factor. I've lived rural and city, many places. Currently in central Phoenix. My spend has averaged $592.04/mo over the past 21 months. My house appreciated almost $2000/mo average the past 15 years. That net would be hard for me to beat living rural.
If you rent then rural can be cheaper.
I can walk to most everything. I fill my car's 10 gal tank 1 or 2 times a year and my car will outlast me. Great hospitals a 20 minute walk. About 15 large grocery stores in walking distance. Common for me to hit different stores for their best on sale items each week on foot. To drive to each store would cost more than I'd save.
Free food is abundant in the city. About 1/2 my food is free. Canal and lake walking distance to catching carp, catfish, bass and stocked trout in winter. Lot's a places giving away food. I walk 2 hours a day and often find food people set out for some reason.
The Phoenix climate also reduces cost a lot.
It depends on how a person wants to live much more than the location. If you have fun growing food and animals and doing rural fun things then rural can be cheap. But if you're wanting to drive 20-30 miles or more to...everything else, the cost can be more than city.
Well done. Financial education in this country is abysmal.
Thanks for watching!
No one is going back to work at 89.
Hope not!
Seriously!
My thoughts exactly. Most people are dead before that.
Hey Drew,
At 52, I will be debt free in Oct. No house, as I work seasonal jobs around the country...currently at the Grand Canyon. I currently make around 37,000/ yr after tax and plan on maxing out a Roth IRA, invest 30% into my companys 3% Roth 401k, giving myself 5 years to accumulate and save 100k at 57, then slow down my savings rate. Giving myself 5 to 10 years of growth before taking SS benefits...Staying zero debt, and living frugaly, I am wondering if this is a good plan and enough to mostly retire?
Sounds like you are doing excellent. I would want to talk more specifics but you are on the right track!
I plan to move to Philippines, Thailand or Cambodia for retirement because you have to think smart financially if single.
Malaysia is most interesting to me. PH has Filipinas and not much else. 10-20x more tourists go to other countries in SE Asia for a reason.
Are the taxes on RMD included ? If you retire overseas what happened to Medicare? If you come back US after retiring overseas?
You should add in what your cost in fees is costing them.
What if with the married couple only 1 worked and the other never worked? Would that be the same scenario as single?
Could be but you would have spousal benefits in there.
Ha! My social security check is not the average. I don’t know whether to laugh or cry 😂😢
Awesome!
What is that software you're using? I'd like to crunch my own numbers. If its proprietary, can you recommend a free equivalent?
Spreadsheet gives you the max flexibility.
I was wondering Drew , do they speak English in the Philippines ?
🤔
Mark, check out some RUclips videos on Philippines. English is the second language there. Signs are in English, radios and tv also. In fact, Stores and restaurants we have here in the US they also have there, especially in the larger cities. If I am not mistaken, it ranks in the top five English speaking country in the world. Hope this helps!
You can retire with nothing saved if you are willing to sleep on the street, and depend on charity or the government for all of your needs.
Single renters, please! Not all of us own homes (love your channel, by the way).
I can do some renting scenarios!
@@yourfinancialekgYes please! I'm sure you have many single renters watching.
Drew do you have a travel agency too?
😂
@ I love your videos! My forever home is being prepared. The New Jerusalem where I have an inheritance that will never end.
Blessed be the God and Father of our Lord Jesus Christ, which according to his abundant mercy hath begotten us again unto a lively hope by the resurrection of Jesus Christ from the dead,
1:4 To an inheritance incorruptible, and undefiled, and that fadeth not away, reserved in heaven for you,
1:5 Who are kept by the power of God through faith unto salvation ready to be revealed in the last time.
Yes I can retire with 100k.I have a pension then move to south east asia.SSI should be 2500 at 62.Thats the only way.100k only no not unless you are a super trader.Happy investing/stacking.
Thanks for sharing
they are all screwed sequence of return. haven't replaced their car, furnace, AC, roof,....
BUT people still have to have some kind of idea how bad they have been screwing them selves.
I believe you about the percentage of people having
True
Is it okay to invest in a TFSA to get to a hundred thousand?
I’d just like to ask a question, you say $1700ish per month for S.S. , but my paper I get in the mail says if I retire even now ( at 64) my figure is $2351./mo.
What am I missing ?
?
I do not want to be this person or couple. I started late, but I will be investing for the next 25 years, and assuming SS will not exist when I retire
I made the mistake of assuming SS will not exist. I'm 68 and my whole life everyone I heard said SS wouldn't be around. I retired at 45 assuming SS wouldn't be around or mine would be almost nothing. If I took it today it'd be $3100/mo. I don't need it, but gee, sure is nice. And the COLA is a great hedge.
This current "run out in 2035" is not the first "it'll run out scare. SS was predicted to run out in 1983 too. Congress passed some reforms in Aug 1983 and put SS back on track. After that's SS predictions of running out in 2050 started and then back to 2035. That could be scaled back to 2034, 2030, whatever depending on many factors. At some point Congress will pass a new set of reforms and/or move money into the SS trust fund account.
SS is not a standalone business. It's a Federal government program. When people say "SS is running out" they're talking about the SS trust fund account. Like your checking account. If your checking runs low you move money from savings into checking. You don't run out of money just because 1 account runs down.
The reason I say this is because it would have been smarter for me to understand how SS works and also not believe morons. If I'd stopped working too early I'd get $0 SS. That would have been good info. I got super lucky because I earned a lot of money early in my career, maxed SS withdrawals. Those contributions got adjusted over the decades to give me the $3100/mo even through I had years of $0 contributions (SS uses highest 35 year earnings).
If I'd understood how SS works I may have continued working another 10 years. I loved my career and what have been happy doing that. I could get an extra $1000/mo SS today. Not a huge difference and I don't need it, but still I may have made that choice.
SS is imo the best retirement element a person can have in the entire world. Don't believe the morons.
The haves getting richer and the have-nots getting poorer.
Agreed. That is why we do this channel. To bridge the middle.
What happens when you retire at 62 continue working when you reach 67 do they pair to 67 years amount?Another question is if you have 401 k when you take 4 % as your example you have to pay taxes so it’s not the same amount calculated right? How the % work in your 401 k . Is there a table for that? Thanks a lot!
The Philippines is 40% cheaper than the United States.
And most other countries in SE Asia are cheaper than PH. The 40% or whatever number is based on an arbitrary lifestyle and is not an apples to apples comparison. Rent is cheaper but food is about the same or more. Electric is more, water is less. Visa costs more of course. Medical is cheaper by charged amount but there's no Medicare. So we can say medical is cheaper but costs you a lot more. There is health insurance but only reasonable if healthy and under say 75.
My spend the last 21 months in Phoenix has averaged $592.04/mo. There's no way I could enjoy the same lifestyle in PH for that.
However if we add a 25 year-old attractive trim intelligent Filipina thrilled to live with me into the equation then PH is not just cheaper, it's only possible in PH.
I already know it's based on lifestyle and been to Philippines before and have expat friends that live there.
Rent out a room 😁
True
It's a same how few details are given in where these example numbers are defined. All the financial advisor channels just put up some "average" and don't define the parameters. I assume they're talking to viewers they don't think can understand anything. Makes sense because those viewer would be more likely to pay for a financial advisor. These videos are just commericials.
I retired 22 years ago at 45 with about $100k cash. I did have $400k in home equity and Drew never said if home equity was included in his $100k or less number. I assume home equity is included because 65% have under $100k means 35% have more and the number wasn't limited by age. The only way 35% of all Americans have more than $100k is via home equity since 60% of adults own.
My total spend has averaged $592.04/mo over the past 21 months. My house has appreciated just under $2000/mo on average over the past 15 years.
I am planning a move to SE Asia next year but mainly for adventure. Partly to get set up for extreme old age. Where SE Asia and some other countries really shine is low cost labor. A live-in housekeeper is $75-200/mo USD plus food. And long term retirement resorts max out at $4000-6000/mo for full care, private nurse, meals, private apartment, etc...
My budget in SE Asia will be $6100/mo with $500k in the bank. True $1000-1500 is a decent budget in SE Asia but that's basic for an American. $2000/mo is good an $3000/mo great. BUT that's while healthy. It is easy for men to meet a great young woman happy to marry an American and take care of him for the rest of his life. Locals call these women "caregivers". 99% of Americans retiring to PH are men.
PH is not the cheapest country in SE Asia. Only Singapore is more expensive. But the difference isn't a lot. Other countries get 10-20x more tourists than PH because of problems in PH. Lot's of trash, many loose dogs, rooster noise, dog noise, karaoke noise, worse food, poor infrastructure and service, on and on. The only reason men move to PH is for meeting and being in a long term relationship with a woman.
Philippines here i come.
It's an option!
Okay, so i'm going to be saving in a tfsa and putting some of that into stocks monthly. Is that an okay way to invest? I have no other savings. I don't want to do r s.V p
Is the avarage Social Sec payment of $1,700 before or after Part B is deducted?
Here are the updates from SS: faq.ssa.gov/en-us/Topic/article/KA-01903#:~:text=Views:,most%20convenient%20way%20to%20apply.
@@yourfinancialekg Right but it doesn't answer the question: is this before or AFTER part B is deducted? My guess is that it is BEFORE the dedication. Of course averages are just that - not a true reflection of what most people get as those with maximum SS are being calculated into the final average. What do YOU think most people get after taxes?
@@randall8379$1700 is usually before Part B deduction of $189. You would need a drug plan with it and they’re not that expensive. Talk with a Medicare agent to talk about your insurance needs. Good luck.
maybe living in Thailand, $100k is enough.
That was one of the points
And pray to have good health; I know health cost is much cheaper in Southeast Asia, but your money will burn fast if you have a health condition and require constant hospital visits. This is why I think it’d be better to move back to the state around 70. :)
..depends on how much change..it's left with the cashier 💸. Change makes my purse stinky.
Very sad that retirement is easier in a foreign country.
Agree! Need to get cost of living and healthcare down for USA
Broccoli and asparagus are unhealthy
I don't know anybody who has $100k saved....
I'm in the uk and without a mortgage. 100k and my state pension would be more money than I will ever need. Not sure where you live 😂😂😂
🇺🇸
Are you allowed to go overseas and still draw social Social Security? I thought you were not?
I’d rather stay in the USA !
Me too!
👀🤣🤣@ Getting closer to where you need to be.🙄😔😏
What drugs are you on?
My brother is on Roatan Honduras, he is not doing very well
😂
So basically you can't 😂
You must make sacrifices somewhere
Interesting that when I turn 61 years old SS may get a haircut. I wish the U.S. spending on wars, gender reassignment, and other insane government spending got the haircut first.😮
BS
What is?
@@yourfinancialekg homelessness are retired on nothing. Yes, it's possible to retire on 100k
That woman is wacko. lol
Who?
@@yourfinancialekg Suze Orman lol
I’m not a fan of Suzy Orman. She use to sell her financial wares on QVC. I remember watching her show on CNBC, I believe. Her favorite line was, is it a need or a want? I often wondered if what she was selling on QVC was a need or a want. I can get sound financial advice online and it’s free.
If only you and other experts could/would specify 'before' or 'after' taxes' after every statement, it would go a long way to clearing up a lot of ambiguity, confusion, and wrong assumptions and conclusions. - For example, is that average ss payment Before or After Taxes?. etc. etc... and so on and so on.
Great point and noted!