➡️ROTH IRA vs 401(k) 2021: ruclips.net/video/zNra51EEJ2c/видео.html ➡️ Hey! I'm using SoFi INVEST 📊 to buy and sell stocks (and pieces of stocks) with ZERO fees. Open an Active Investing account with $5,000 or more, and you'll get $50 in stock. Use my link: www.sofi.com/share/invest/1736016
My retirement plan is set up pretty nicely, I follow similar steps in this video! I’ve been noticing you’re producing a lot more content recently I like the hustle !
@Unorthodox Savings - Thanks, Joe! Yeah we’ve done all the traditional stock market stuff for a long time and are just now dipping our toes into real estate...so you’re way ahead of me there man! Appreciate you!
@North Investor - Awesome! Hope you’re able to hit your goal! What happens during your retirement from 30’s+? Appreciate you taking the time to check out the video. Cheers!
@@Financial_Awareness Thank you so much and actually I invest a lot on the stock market and at 22 while being a college student I have surpass the 100k on that point and with some friends we are looking to buy our first rental property and our goal will be to buy 1 new every year so like that we can go live in one and made the others work for us! With hard work I'm sure I'll succeed so after I will have the choice to do what I want!
@North Investor - That’s a great plan! Thrilled to hear that you have an outline to jump into real estate as a means to both keep you busy during your 30’s and beyond while building your wealth. When I read comments like this using the word “retire” I usually ask myself, “...what will they do with their time?” So, based on your last response what I presume you mean is financial independence by 30, BUT that you’ll keep working...by choosing to do what you want - real estate. As an elderly millennial myself who’s had a little financial success and an established family I will share that your life today in your 20’s will look very different in your 30’s (potentially different friends, relationships, possibly kids, possibly a higher/more expensive lifestyle, etc). Your life will evolve and your taste for nicer things may impact your ability to hit your F.I.R.E. goal...so keep an eye on your emotional decisions and make sure that you’re enjoying life while on the ride...we only live once. Enjoy it while you can. Lastly, dude, super proud of you to hit and surpass the $100k mark at such an early age...well done & keep it up boss! Appreciate you and happy to have you around the channel. Cheers!
@Rob Urb - Very grateful and appreciative of your service, Rob...thank you! Yeah, financial plans with multiple income sources (ss, pension, real estate, etc) ANNND stock market portfolio assets are top notch! Thanks for checking out the video, boss! I'll have to learn more about Tricare. Hey, I'm curious, does having those income streams impact your risk tolerance in selecting your stock market funds/tickers?
@@Financial_Awareness , To answer your question - ABSOLUTELY! I'm overly aggressive, to the point my planner tells me I may want to lower the risk a little. 🤣😀. I keep telling him I have a retirement, and my wife is a federal employee and she'll also have a pension at 57, and then we add SS for the two of us. I will.neber be worried "where the next paycheck" is coming from. My wife is in the most secure gig in the world and does well herself. With her income and my retirement, we will never make below $180K in today's dollars. Appreciate the words. I had a blast serving for the 27 years I did!
@@roburb73 - LOVE IT, brother! Get after it! Regarding risk, I tend to lean that same way as well...the larger and more diversified our wealth becomes the more risk I’m willing to take in a few concentrated areas. Good stuff, boss...appreciate you. 👍🏻
Great video. Multiple streams of retirement income is similar to selling multiple product lines. Oftentimes, all sell good. Sometimes one is down and the others keep us afloat. Occasionally, two are down and one is increasing.
In other retirement videos it says expected growth 4% and on this video it says assuming 7% in the future right? How come? Is it possible? Realistically, what do you really believe? It is my understanding that %return isn’t even 1% now in days right? I’m new to all this… sorry!
@Angela P - No worries…great question. The average rate of return over the past 10 years for the Vanguard S&P 500 ETF (VOO) is greater than 10%. There is the actual rate of return over time that we can see in hindsight and then there is rate of return that you have to assume/project over future years…people typically use past performance as a reference/guide for what the hypothetical future performance could be…yes, it is possible to average more than a 7% rate of return…yes it’s possible to get 4%. The answer to how much rate of return you can hope for/expect is based partly on an investor’s risk tolerance and asset allocation. The more risk you take the higher the rate of return you would want. Realistically speaking, what I believe is irrelevant because I am merely a spec of dust in the overall picture of how the market could perform moving forward and I’m not in the business of making predictions. Lol. That said, if you have a long enough time horizon and a high enough risk tolerance then achieving a good rate of return is very possible. Also, and most importantly, your savings rate is a higher indication of your wealth building efforts having success…a 10% rate of return on $1,200 saved per year is only $120 of growth, but a 6% return on $3,600 saved per year is $216….so focus more on HOW MUCH you can save first then focus on how well to invest those funds to achieve the rate of return needed for you to accomplish your financial goal (which for most people is retirement). Hope that helps! Appreciate you checking out the videos! Cheers!
Love your videos. What is the benefit of a traditional IRA over a non IRA brokerage account? You get $6k of tax deduction but after that it seems to not be a benefit but I’m sure I’m missing something.
@Charles Gorney - Hey thanks man! Appreciate you taking the time to check out the vid and channel. Nah, you’re not kissing much…other than the immediate tax deduction the other huge benefit is tax deferred growth…vs a non-qual brokerage account that someone would trade in/out of often where you’d owe short term cap gains…or obviously long term cap gains taxes if you hold positions longer than 12 months. Personally, among other accounts, I own both Trad IRA and two brokerage accounts…each play a certain role within our financial plan. The brokerage accounts are for more short term to medium term goals and IRA is more long term…sometimes the investing within each account reflects those time horizons. Thanks for your question…hit me up if you have any more. Cheers boss!
hello , my husband and I are 56 working self employed making 65000 a year, planing to retire by 65 what do you think best calculation for our Traditonal IRA step 3 was littil confusing
➡️ROTH IRA vs 401(k) 2021: ruclips.net/video/zNra51EEJ2c/видео.html
➡️ Hey! I'm using SoFi INVEST 📊 to buy and sell stocks (and pieces of stocks) with ZERO fees. Open an Active Investing account with $5,000 or more, and you'll get $50 in stock. Use my link: www.sofi.com/share/invest/1736016
Thanks for the info K !! Happy thanksgiving
@Ram Zee - Happy Thanksgiving to you & your family as well!
My retirement plan is set up pretty nicely, I follow similar steps in this video! I’ve been noticing you’re producing a lot more content recently I like the hustle !
@Unorthodox Savings - Thanks, Joe! Yeah we’ve done all the traditional stock market stuff for a long time and are just now dipping our toes into real estate...so you’re way ahead of me there man! Appreciate you!
Great video sir with good advices! My goal is to aim to retire before my 30's!
@North Investor - Awesome! Hope you’re able to hit your goal! What happens during your retirement from 30’s+?
Appreciate you taking the time to check out the video. Cheers!
@@Financial_Awareness Thank you so much and actually I invest a lot on the stock market and at 22 while being a college student I have surpass the 100k on that point and with some friends we are looking to buy our first rental property and our goal will be to buy 1 new every year so like that we can go live in one and made the others work for us! With hard work I'm sure I'll succeed so after I will have the choice to do what I want!
@North Investor - That’s a great plan! Thrilled to hear that you have an outline to jump into real estate as a means to both keep you busy during your 30’s and beyond while building your wealth.
When I read comments like this using the word “retire” I usually ask myself, “...what will they do with their time?” So, based on your last response what I presume you mean is financial independence by 30, BUT that you’ll keep working...by choosing to do what you want - real estate.
As an elderly millennial myself who’s had a little financial success and an established family I will share that your life today in your 20’s will look very different in your 30’s (potentially different friends, relationships, possibly kids, possibly a higher/more expensive lifestyle, etc). Your life will evolve and your taste for nicer things may impact your ability to hit your F.I.R.E. goal...so keep an eye on your emotional decisions and make sure that you’re enjoying life while on the ride...we only live once. Enjoy it while you can.
Lastly, dude, super proud of you to hit and surpass the $100k mark at such an early age...well done & keep it up boss! Appreciate you and happy to have you around the channel. Cheers!
My military retirement is not only a huge financial benefit with the pay, but that Tricare medical benefit is amazing.
@Rob Urb - Very grateful and appreciative of your service, Rob...thank you! Yeah, financial plans with multiple income sources (ss, pension, real estate, etc) ANNND stock market portfolio assets are top notch! Thanks for checking out the video, boss! I'll have to learn more about Tricare.
Hey, I'm curious, does having those income streams impact your risk tolerance in selecting your stock market funds/tickers?
@@Financial_Awareness , To answer your question - ABSOLUTELY! I'm overly aggressive, to the point my planner tells me I may want to lower the risk a little. 🤣😀. I keep telling him I have a retirement, and my wife is a federal employee and she'll also have a pension at 57, and then we add SS for the two of us. I will.neber be worried "where the next paycheck" is coming from. My wife is in the most secure gig in the world and does well herself. With her income and my retirement, we will never make below $180K in today's dollars.
Appreciate the words. I had a blast serving for the 27 years I did!
@@roburb73 - LOVE IT, brother! Get after it! Regarding risk, I tend to lean that same way as well...the larger and more diversified our wealth becomes the more risk I’m willing to take in a few concentrated areas. Good stuff, boss...appreciate you. 👍🏻
Great video. Multiple streams of retirement income is similar to selling multiple product lines. Oftentimes, all sell good. Sometimes one is down and the others keep us afloat. Occasionally, two are down and one is increasing.
@Peter Karantonis - Love that! Nice to have some diversity in product lines and revenue streams. Appreciate you, Peter! 👊🏻👊🏻
In other retirement videos it says expected growth 4% and on this video it says assuming 7% in the future right? How come? Is it possible? Realistically, what do you really believe? It is my understanding that %return isn’t even 1% now in days right? I’m new to all this… sorry!
@Angela P - No worries…great question. The average rate of return over the past 10 years for the Vanguard S&P 500 ETF (VOO) is greater than 10%. There is the actual rate of return over time that we can see in hindsight and then there is rate of return that you have to assume/project over future years…people typically use past performance as a reference/guide for what the hypothetical future performance could be…yes, it is possible to average more than a 7% rate of return…yes it’s possible to get 4%. The answer to how much rate of return you can hope for/expect is based partly on an investor’s risk tolerance and asset allocation. The more risk you take the higher the rate of return you would want.
Realistically speaking, what I believe is irrelevant because I am merely a spec of dust in the overall picture of how the market could perform moving forward and I’m not in the business of making predictions. Lol. That said, if you have a long enough time horizon and a high enough risk tolerance then achieving a good rate of return is very possible. Also, and most importantly, your savings rate is a higher indication of your wealth building efforts having success…a 10% rate of return on $1,200 saved per year is only $120 of growth, but a 6% return on $3,600 saved per year is $216….so focus more on HOW MUCH you can save first then focus on how well to invest those funds to achieve the rate of return needed for you to accomplish your financial goal (which for most people is retirement). Hope that helps! Appreciate you checking out the videos! Cheers!
Love your videos. What is the benefit of a traditional IRA over a non IRA brokerage account? You get $6k of tax deduction but after that it seems to not be a benefit but I’m sure I’m missing something.
@Charles Gorney - Hey thanks man! Appreciate you taking the time to check out the vid and channel. Nah, you’re not kissing much…other than the immediate tax deduction the other huge benefit is tax deferred growth…vs a non-qual brokerage account that someone would trade in/out of often where you’d owe short term cap gains…or obviously long term cap gains taxes if you hold positions longer than 12 months.
Personally, among other accounts, I own both Trad IRA and two brokerage accounts…each play a certain role within our financial plan. The brokerage accounts are for more short term to medium term goals and IRA is more long term…sometimes the investing within each account reflects those time horizons.
Thanks for your question…hit me up if you have any more. Cheers boss!
hello , my husband and I are 56 working self employed making 65000 a year, planing to retire by 65 what do you think best calculation for our Traditonal IRA step 3 was littil confusing
Thank you! Very helpful and clear.
@pedro neto - Thank you! Appreciate you taking the time to check out the video! Hope a few of my other videos are not a waste of your time. Cheers!