I am currently in my 50s and This is no time to taper retirement savings. I want to max out my retirement contributions and I also have another $200k in a savings account that i want to invest in a non-retirement account. Where should I invest it now?
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $1.2m in gains… might not be a lot but i'm financially secure.
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Melissa Terri Swayne turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
I just looked her up on the internet and found her webpage with her credentials. I wrote her an outlining my financial objectives and planned a call with her.
I am now a 62 year old "geezer" who was forced into "retirement" at the end of 2023 due to a large layoff and then blatant ageism that has followed in my job search despite me having a VERY advanced degree and 30+ years of experience. I am however financially ready and for me the biggest saving grace has always been setting (reasonable) milestone goals throughout my life and then religiously sticking to the strategies that both, (experienced & knowledgeable) well wishers and my analytical mindset helped me formulate. Absolutely agree with you Azul that discipline and a well defined strategy throughout the various phases of life are the cornerstone of arriving at reasonably secure golden years of your life.
Many decades ago when I was in my early 20’s just starting out with my wife and daughter. I told my dad I want to invest, but right now I just don’t have the money. He told me this is the season of life, that you invest in paying off your home mortgage, feed and clothe my granddaughter. The season for saving is coming, when it comes, save and invest every penny you can. I’m 63 and I will retire this year. My FA told me I can live off the interest from my investments, without touching my SS till age 70. It wasn’t easy, it took discipline and sacrifice. And know it didn’t make a big salary. We budget and managed our money for our money well. It’s not how much you make, it’s how well you manage it.
Your father shared very wise advice with you. And, you were smart to listen and make it happen. I am glad it all worked out so well for you. Congratulations and enjoy every day of the youth of your senior years. Thanks for watching and for sharing your journey with us. 😎 Azul
For a year I’ve had a plan to retire Jan. 2025. My job has become really stressful and unpleasant. I don’t know if I’ll make it the last four months. Adjusting my asset allocation and saving and investing more of my pay to prepare.
Most people don't realize how affordable and actually safe it is to retire outside the US. There are many countries in SE Asia, Eastern Europe and Latin and South America. Most countries you can live a good life for about $1,500 for a single person and about $2K for a married couple. I have been out almost two years and love it.
@@jamessteele7102 Many of the places I mentioned many people speak English. There are many expats where I live and I rarely have to use Google Translate to speak Spanish.
Investing is the key. So you need to earn enough to save enough to invest enough to stay ahead of inflation and later live on interest, while always keeping the principle growing faster than inflation.
If you've achieved any financial security, savings, owning a house, a pension.... you'll find these are going to be a financial burden around your neck..... they'll tax you to oblivion..
In light of the global crisis, rising inflation, and economic instability caused by inadequate governance, stocks, ETFs, Mutual funds, and REITs, assets can serve as a viable path to achieving financial independence.
I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000
No worries, we all start somewhere! First, grab a comfy chair and some popcorn , and dive into some beginner-friendly finance videos. Start with basics like "investing for dummies" and "how to trade stocks 101." When you're ready for more, think about a financial advisor like Margaret Ellen Whitlock-she's like the Yoda of finance! May the gains be with you!
btc has zero counter party risk. this is the safest investment the world has ever seen. the world is just starting to understand it. once you really understand this, the world changes.
This isn't true. There are many counterparty risks. An exchange can be hacked or have fraudulent executives. Your wallet private keys can be lost, stolen or compromised. Governments could decide to regulate, heavily tax or ban bitcoin within their borders. By the way, bitcoin is an asset, not an investment.
I am currently in my 50s and This is no time to taper retirement savings. I want to max out my retirement contributions and I also have another $200k in a savings account that i want to invest in a non-retirement account. Where should I invest it now?
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $1.2m in gains… might not be a lot but i'm financially secure.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Melissa Terri Swayne turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
I just looked her up on the internet and found her webpage with her credentials. I wrote her an outlining my financial objectives and planned a call with her.
I love the importance of balance presented in your 2nd point. Optimizing on life is and enjoying each phase is great wisdom.
I am now a 62 year old "geezer" who was forced into "retirement" at the end of 2023 due to a large layoff and then blatant ageism that has followed in my job search despite me having a VERY advanced degree and 30+ years of experience. I am however financially ready and for me the biggest saving grace has always been setting (reasonable) milestone goals throughout my life and then religiously sticking to the strategies that both, (experienced & knowledgeable) well wishers and my analytical mindset helped me formulate. Absolutely agree with you Azul that discipline and a well defined strategy throughout the various phases of life are the cornerstone of arriving at reasonably secure golden years of your life.
Many decades ago when I was in my early 20’s just starting out with my wife and daughter. I told my dad I want to invest, but right now I just don’t have the money. He told me this is the season of life, that you invest in paying off your home mortgage, feed and clothe my granddaughter. The season for saving is coming, when it comes, save and invest every penny you can.
I’m 63 and I will retire this year. My FA told me I can live off the interest from my investments, without touching my SS till age 70.
It wasn’t easy, it took discipline and sacrifice. And know it didn’t make a big salary. We budget and managed our money for our money well. It’s not how much you make, it’s how well you manage it.
Your father shared very wise advice with you. And, you were smart to listen and make it happen. I am glad it all worked out so well for you. Congratulations and enjoy every day of the youth of your senior years. Thanks for watching and for sharing your journey with us. 😎 Azul
For a year I’ve had a plan to retire Jan. 2025. My job has become really stressful and unpleasant. I don’t know if I’ll make it the last four months. Adjusting my asset allocation and saving and investing more of my pay to prepare.
That’s a tough situation. Good luck with your decision. Once you start you 99 day countdown (to last day of work), it gets easier. 😎 Azul
@@AzulWells Thanks for this encouragement. I hadn’t even thought of a 99 day countdown. Great idea!!!!
Good information. Your quote is actually from Albert Einstein.
I want to retire at 55 as well.
Most people don't realize how affordable and actually safe it is to retire outside the US. There are many countries in SE Asia, Eastern Europe and Latin and South America. Most countries you can live a good life for about $1,500 for a single person and about $2K for a married couple. I have been out almost two years and love it.
That is very true. I have met many happy ex-pats in the very regions. You list here. Thanks for sharing this with the community. Azul
That’s good for the adventurous types but most people don’t want to have to leave their native country and live amongst foreigners.
@@jamessteele7102 Many of the places I mentioned many people speak English. There are many expats where I live and I rarely have to use Google Translate to speak Spanish.
Can't retire now with all the sad news you put out these days.....
I disagree, index funds and money market funds in this atmosphere
by now it should be over 21 years
Investing is the key. So you need to earn enough to save enough to invest enough to stay ahead of inflation and later live on interest, while always keeping the principle growing faster than inflation.
If you've achieved any financial security, savings, owning a house, a pension.... you'll find these are going to be a financial burden around your neck..... they'll tax you to oblivion..
In light of the global crisis, rising inflation, and economic instability caused by inadequate governance, stocks, ETFs, Mutual funds, and REITs, assets can serve as a viable path to achieving financial independence.
I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000
@@BrentJ.Sanchez I KNOW NOTHING ABOUT TRADING/ INVESTING AND I'M KEEN ON GETTING STARTED . WHAT ARE SOME STRATEGIES TO GET STARTED WITH ?
No worries, we all start somewhere! First, grab a comfy chair and some popcorn , and dive into some beginner-friendly finance videos. Start with basics like "investing for dummies" and "how to trade stocks 101." When you're ready for more, think about a financial advisor like Margaret Ellen Whitlock-she's like the Yoda of finance! May the gains be with you!
Financial advisors are snakes.
Brokers are snakes, fee only financial advisors like Azul are not.
btc has zero counter party risk. this is the safest investment the world has ever seen. the world is just starting to understand it. once you really understand this, the world changes.
This isn't true. There are many counterparty risks. An exchange can be hacked or have fraudulent executives. Your wallet private keys can be lost, stolen or compromised. Governments could decide to regulate, heavily tax or ban bitcoin within their borders. By the way, bitcoin is an asset, not an investment.