2 сағат бұрын
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@dekaywill4572 10 сағат бұрын
Born and raised in Texas 67 years and I have never wanted to live in Dallas. Hell NAH!
@johnspring9088 15 сағат бұрын
Govt wants to know what everyone has invested so they can cut your SS benefits. This is the socialism and the redistribution of wealth. Consider that when you go to the polls in November. Time to wake up Anerica. Read up on the Convention of States and Article 5. DC works for us....not the other way around.
@kylerupp4378 16 сағат бұрын
Adjust your spending to what the goose is crapping out don't shoot the goose
@mrcee5727 17 сағат бұрын
Splendid video, great explanation
@OakHarvestFinancialGroup 17 сағат бұрын
Thank you @mrcee5727!
@BarnabyBarry 17 сағат бұрын
Cool video-so if you need to withdraw 100% from your inherited IRA within 10 years-you have to just monitor the market and maybe take most of it out prior to 10 years just in case there is a bear market and there is a big loss at the end of the 10 years?
@ro6384 17 сағат бұрын
ERROR - some pensions have COLA, so the monthly payment will NOT stay the same. My pension has COLA on about half the payout.
@mikeshaw4610 18 сағат бұрын
In not at 100% but 75-80% invested in aggressive. I do understand it can have down years but overall it should do better.
@OakHarvestFinancialGroup 9 сағат бұрын
Hey Mike, thanks for watching and sharing your strategy with us.
@jdgolf499 19 сағат бұрын
Knowing how much my wife and I spend, I need 7 - 8% for the next 3 1/2 years until I start collecting SS. At that point, I need about 2%. Three years later, when migh wife collects SS, I won't NEED anything. SS and an annuity I have will cover everything! My investments will continue to grow, and be there for extras, like major medical costs, larger purchases like a new car, big vacation, or major home repair / upgrade! So, RMD's will dictate my withdrawl rate, and will be invested into something else. It's more important to know how much you NEED, rather than how much you CAN pull out! Also, I have no problem leaving money to the kids!
@OakHarvestFinancialGroup 9 сағат бұрын
Hey @jdgolf499, thank you for sharing your plan and insights! It sounds like you have a well-thought-out strategy for managing your withdrawals and SS benefits. Your point about knowing how much you need versus how much you can withdraw is crucial and often overlooked. It's great to hear that you have contingencies for major expenses and are planning to reinvest RMDs. We hope you enjoy your retirement!
@Sam9wilson9 Күн бұрын
Nice mention on retirement end of bear vs bull 👍
@OakHarvestFinancialGroup 9 сағат бұрын
Thanks for watching Sam!
@cindymartinez8347 Күн бұрын
Always great advice and not interested in dogging the other GUY like a lot of people these days. Always a class act and I appreciate that. Just trying to provide the best information possible. Great job Troy!
@OakHarvestFinancialGroup 16 сағат бұрын
Thanks so much Cindy! We really appreciate that.
@thepatientguitarist1739 Күн бұрын
@9:52 "The software would only let me bump it up to 11.7% per year"🤭
@OakHarvestFinancialGroup 9 сағат бұрын
Lol, thanks for watching @thepatientguitarist1739!
@StephenWampler Күн бұрын
I think Dave says to take 8% of the portfolio balance each year, not 8% adjusted for inflation each year. So a $1M portfolio that goes down 50% the first year, your initial withdrawal is $80k, but your second is only $40k. The difference would be made up from that emergency fund he preaches. I'd like to see the numbers run this way.
@raiden031 19 сағат бұрын
That's what I think as well, but given that he doesn't clarify this make me think he doesn't actually know that what is typically recommended is to take 4% of the starting balance at retirement and then simply adjust that amount by inflation each year. Either way his lack of knowledge on this topic is scary.
@mikekeenanphd 18 сағат бұрын
I agree with you. But Dave either doesn't take the time to draw out those differences on his show. Or he doesn't understand them. As formulated, the 4% rule is pretty silly. No one is going to keep taking out the 4% if the market drops like a rock. There is a lot of room for criticism.
@stevenwolfgang2744 Күн бұрын
Very informative and professionally presented. Thanks.
@OakHarvestFinancialGroup 16 сағат бұрын
Thanks Steven! We're glad you enjoyed it.
@timeformore Күн бұрын
Another great video explaining things. Thank you!
@OakHarvestFinancialGroup Күн бұрын
Thanks @timeformore! We're glad you enjoyed it!
@ItsEverythingElse Күн бұрын
I like 5%, as a generalization.
@swright5690 Күн бұрын
Me too. I calculate 10% first because that is easy math and then take half of that.
@bluecollarbudgets Күн бұрын
Great video from Oak Harvest as usual!
@OakHarvestFinancialGroup Күн бұрын
Thanks @bluecollarbudgets! We love consistently seeing you around our channel!
@kennethwers Күн бұрын
8% adjusted yearly based on assets?
@larrysmith7118 3 күн бұрын
El Paso oh my that's Mexico, Dont take this advise because its mostly wrong this is a relator talking.
@OakHarvestFinancialGroup 9 сағат бұрын
Hey Larry! Thanks for sharing your take on things. Do you have any places in Texas you would recommend?
@colbyharder4733 3 күн бұрын
Imagine expecting a 10-year average real return of 1-3% in an environment where AI is going to reduce cost and increase net income.
@OakHarvestFinancialGroup 9 сағат бұрын
Hey Colby! Thanks for watching and sharing your perspective!
@56BIGM 3 күн бұрын
she's from philedelphia and she's telling us where to live?
@OakHarvestFinancialGroup 9 сағат бұрын
Hey there John! We're by no means telling anyone where to live, just offering ideas :) If you could retire anywhere in Texas, where would you live?
@marantz747 3 күн бұрын
Nationwide last 3 years JP Morgan Mozaic 2 = ZERO
@OakHarvestFinancialGroup 9 сағат бұрын
Hey @marantz747, thanks for watching!
@georgemarsilio5122 3 күн бұрын
how can I contact you
@OakHarvestFinancialGroup 3 күн бұрын
We would love to help! Please click the link here to request a free consultation with our financial advisors: click2retire.com/schedule
@mathew3267 6 күн бұрын
If you die at 88 your still ok
@OakHarvestFinancialGroup 4 күн бұрын
Thanks for watching, @mathew3267!
@stephenholcomb9278 6 күн бұрын
It would be nice to see a video with these amounts and trying to maximize withdrawal strategy. My wife and I have no children, and while we do have nieces and nephews we prefer to spend all our money as much as we can and then let them have the physical assets (properties and the like) that they can work to sell. I have zero intention of having 18 million and then having all the taxes paid up front for those children :) With 5 million saved you could easily withdraw 200,000 per year using the 4% rule and more than that when SS and pensions kick in. So I'm not understanding why the video has a 120,000 per year with a 50k add on for just 10 years.
@OakHarvestFinancialGroup Күн бұрын
Great comment! We appreciate the feedback and can add your idea to our future topic list. If anything, your comment helps to illustrate that a retirees’ goals often vary widely. Like yourself, some retirees want the ‘last check thy write to bounce’ as they plan to spend everything they have saved. For while others, leaving a legacy is their preference. For the latter, estate and tax concerns can become considerations. Feel free to call our office to see if you may be missing considerations in you and your wife’s retirement plan. Again, thanks for the comment and for watching our channel.
@dartht.3736 6 күн бұрын
Uhhh. Burnet is pronounced like Durn it. If you say it like you did you have to leave Texas for 1 year. 😂❤. Love Texas and that you hit some real winners.
@OakHarvestFinancialGroup 4 күн бұрын
Lol Thanks for watching and catching that for us! Glad you enjoyed the video.
@BuddyDog9267 7 күн бұрын
Annuities????.....SCAMMER😮
@OakHarvestFinancialGroup 4 күн бұрын
Hi @mikeland9267, each person's situation is unique. Annuities are one tool that can be used as part of an overall portfolio strategy and may or may not make sense for you. Please call Oak Harvest if you need help with retirement income and tax planning. You can also refer to our regulatory documents on our website to see the costs of doing business with us. We strive to be transparent with our fees while offering significant value to our clients. You can check that out here: oakharvestfg.com. Thanks for watching and take care!
@ricklafrance2520 7 күн бұрын
Why not sell a put to enter a position and sell calls to sell? I use this and it forces me to sell high and buy low. Covered both ways, limit risk and forces discipline.
@OakHarvestFinancialGroup 3 күн бұрын
Selling a put without owning the underlying stock can be a very dangerous and highly risky investment. Many people, and even big trading firms, utilizing this strategy have incurred steep losses because they believed it “unlikely the company would crash”. When you sell a put, you can be forced to buy equity at a price that is no longer economically attractive, even if it goes to zero as in the case of bankruptcy. This strategy fails to limit downside and introduces very high risk to a portfolio, especially in or near retirement. Thanks for watching!
@johnnyg7899 8 күн бұрын
At the very beginning of this video when he said "and you have $750K saved for retirement" I knew it was another comedy show.
@OakHarvestFinancialGroup 4 күн бұрын
We're sorry you feel that way, @johnnyg7899! We know every situation is unique, and this video is just one tool that can be used as part of an overall portfolio strategy and may or may not make sense for you. Please call Oak Harvest if you need help with retirement income and tax planning. Thanks for watching.
@travgal9903 10 күн бұрын
In 2034 SS will only pay 80% so that needs to be accounted for when you are forecasting the SS of years past 2034. It's not a guess. They are now stating it clearly on the statements.
@OakHarvestFinancialGroup 3 күн бұрын
You are correct. Based on the latest figures provided in the OASDI Trustees Report, retirement benefits will be reduced by ~20% in 2033 if no changes are made. www.ssa.gov/people/materials/pdfs/EN-05-10229.pdf? However, it also states that these figures are “estimates [based on] current law, which Congress has revised before and may revise again to address needed changes”. This is not the first time that the fund has been on the ‘brink of depletion’. Each time (1977 and 1983), “Congress made substantial changes…..”. We recently hosted a webinar that discusses this topic. www.bigmarker.com/oak-harvest-financial-group/Strategies-to-Optimize-Your-Social-Security-Benefits-cfc84601d26b0b2a4b6b988d We believe that substantial changes will be made by Congress. However, there is a high probability they won’t come until closer to 2030 or later. Thanks for your comment!
@missouri6014 10 күн бұрын
All of the things brought up, or a moot point now because of buffered ETFs Especially now that there are buffer ETFs with 100% buffer with an upside around 9% per year, which is a whole heck of a lot more than any fixed index annuity Asked to the income part of the fixed index annuity third be no need to get it fixed index annuity because if you really did one to buy a monthly income annuity, you would just do it with your buffered ETF These are the greatest thing and should replace the fix index annuity from now until in the future
@OakHarvestFinancialGroup 4 күн бұрын
Hi Missouri, thanks for commenting. The point Laurence and Branislav make is that hybrid indices within FIAs can provide a more diversified and consistent approach to earning interest than simply tracking the S&P 500. They point out that hybrid indices can post a positive index credit in environments where the market is flat or negative, hence the ability to hit more “singles and doubles”. If you do want to track the S&P 500 with a growth FIA, annual caps are much higher than 9% today and those gains lock in every 12 months, unlike the typical buffered ETF. The buffered ETF, while appropriate for some situations, isn’t an apples to apples comparison to the FIA. I’ll do a video on these to elaborate further, but they in no way are a threat to the FIA marketplace because they only provide one feature that the FIA provides, growth potential without downside risk for a specified number of years. You are missing liquidity, diversification choices, options for lifetime income, asset protection from creditors, death benefits, potential LTC benefits, and backing of the life insurance company to name a few. While no product or strategy is right for everyone, the buffered ETF is really a knock-off of the FIA without additional features provided by the insurance company.
@user-pl8gl2cb7r 10 күн бұрын
Finally seeing a relatable scenario. Can’t relate to the multi-million examples
@OakHarvestFinancialGroup 3 күн бұрын
Hi Mike, we're glad you found one that fits your situation a little better! We're constantly adding to the list of case studies to try and cover every type of situation as much as we can! Thanks for watching.
@happyappy19931 11 күн бұрын
What I see is that the government is the biggest problem for retirement. Taxes, inflation, spending, SS insolvency. Sigh…
@OakHarvestFinancialGroup 3 күн бұрын
Hi @happyappy19931! These are definitely some of the biggest and hardest things to work around but we make it our business to offer the best solutions for each situation to try and reach your retirement goals.
@af18726 13 күн бұрын
Is the a joke? The Governor, Lt. Governor and Attorney General are all Corrupt!
@OakHarvestFinancialGroup 3 күн бұрын
Hi Elguapo, thanks for watching and sharing your perspective! If you have any suggestions for great places to retire, we'd love to hear them!
@eIonmusk542 13 күн бұрын
Lol if you only have $10 million saved for retirement you aren’t paying any estate taxes. Be for real man
@OakHarvestFinancialGroup 3 күн бұрын
Hi Max! Actually, I'm not sure if you had a chance to watch the video but it mentions quite a bit of things you'll want to think about and plan for at that level, including estate taxes. These are things that we've seen many of our clients have to work through in our 10+ years of being in the business. Let us know if you have any questions about it!
@MitchellCapt.MitchDavis 13 күн бұрын
Think you need to wake up Mr Black
@OakHarvestFinancialGroup 3 күн бұрын
Hi there! We're not really sure what you mean but thanks for watching!
@ninaaldrich7514 13 күн бұрын
The average Joe's tax cuts expire. He gave corporations tax cuts that do not expire. Geez
@OakHarvestFinancialGroup Күн бұрын
Thanks for watching and weighing in with your perspective. 😊
@DaystarHiker 15 күн бұрын
The index performance has no impact on the Lifetime Payment Amount. No?
@OakHarvestFinancialGroup 4 күн бұрын
It depends. If you 'annuitize' your payments (ie. give control of your investment to the insurance company in exchange for guaranteed, lifetime income) index performance can have an effect on lifetime payments. If you begin lifetime income via a 'systematic withdrawal', it is highly unlikely (not impossible) for index performance to outpace the rollup percentages associated with an annuity's income account. These concepts can appear complex without additional context. Please call our office to discuss if an annuity is a suitable income tool to secure your retirement's success. Thanks for watching!
@sungee3333 15 күн бұрын
No panhandle cities?
@OakHarvestFinancialGroup 4 күн бұрын
We're considering making another one of these lists - do you have any suggestions?
@sungee3333 4 күн бұрын
@@OakHarvestFinancialGroup look into amarillo. Lubbock. Midland/ Odessa. And smaller towns in between.
@OakHarvestFinancialGroup 3 күн бұрын
Thanks @sungee3333! We appreciate your insight!
@michaelfigueroa5533 16 күн бұрын
Why do you always have to introduce a spouse into every scenario? There are a lot of single people out there who match the profile you start your conversation about then totally derail it for them. That makes the scenario more complicated and doesn’t end up helping me with my retirement planning as a single adult male in their early 60’s.
@OakHarvestFinancialGroup 3 күн бұрын
Hi Michael, thanks for bringing this up! We use married scenarios a lot because we do run into it more often than not - but we understand that's not the same for everyonem so we have many videos that run scenarios specifically for single people! We appreciate your feedback and will continue to create more content with singles in mind. Thanks for watching and being a part of our community.
@briandumont7272 16 күн бұрын
I retired at 62. Luckily I worked a couple good union jobs, so I have a bit of a pension above SS. I am moving to Thailand in July (retired in March) where my budget for a good life is less than my combined pensions which will allow traveling without touching my savings.
@OakHarvestFinancialGroup 9 сағат бұрын
Congrats on your retirement, Brian!
@jeffgriscoa8131 16 күн бұрын
Oh my goodness I’m a 4th generation Texan and I don’t recognize my state anymore!! I grew up in a small town next to Houston with almost zero crime rate and now it’s insane with crime! Please stop bringing people here because the more isn’t better! 🙏🏼🙏🏼🙏🏼 please go away in Jesus name Amen!
@OakHarvestFinancialGroup 9 сағат бұрын
Hey there @jeffgriscoa8131, thanks for watching and weighing in on the conversation!
@amerlin388 16 күн бұрын
I'd like to offer a tax planning (estate planning) tip I never see anywhere else. My wife and I, both retired, each have significant Traditional IRA balances; we COULD each be comfortable with just our individual retirement savings for the rest of our lives. Our 2 children will inherit a significant amount. Suppose my fate is to die in 2040 and my wife passes in 2051. If we designate each other as sole beneficiary of our estate, our sons would not inherit until 2051 and have 10 years (probably 11 tax years) to distribute funds from the pre-tax retirement accounts, with significant tax consequences. Our IRAs' beneficiary designations splits account roughly 1/3 going to each of our 2 adults sons and the surviving spouse. Our sons would have 20 years to spread out the inherited IRA distributions (and tax consequences) and can start enjoying the inheritance in 2040 while still young enough that the financial help timing is most appreciated. My wife would receive a significant cushion to her assets, and she can spend down her own IRA balance in the subsequent 10 years. Even if our deaths are only 5 years apart, for example, there is still a degree of benefit to designating beneficiaries/inheritance in this way.
@BigRed2 16 күн бұрын
Oak Harvest pushes Annuities which are scam financial products
@davidtong2086 17 күн бұрын
WRONG QUESTION! Not how much I can spend each year; BUT HOW MUCH SHOULD I SAVE EACH YEAR AND NOT SPEND.
@rleewallace 17 күн бұрын
If they get 70,000 a year from social security, they can reach thier spending goal easy through a fixed income CD, right? Why make it so complicated?
@johnlittle8267 17 күн бұрын
Maybe I missed something how can they afford their life without any distributions until 70 - they must have almost a million in after tax money. That is a big missing part of this.
@mogarcia9755 18 күн бұрын
I want to retire where your going to be 😂 but seriously let’s over crowd my country Texas 4th generation
@genglandoh 19 күн бұрын
Thanks for your video I just retired at 67 and will take my SS at 70. My plan is to use 3 buckets Bucket1 - Cash (money market funds) to cover my spending for the 3 years before SS starts. I also have a part time retirement job to reduce the amount I need in bucket1 Bucket2 - Enough divident funds to have a dividend income to supplement my SS to handle my spending. Bucket3 - The remainder in Growth Funds for long term growth. I will adjust my buckets every quarter. Examples Up Market If the growth funds increase more than the dividend funds I may move some money from growth to dividend. Down Market If the dividend funds drop less than the growth funds I many move some money from dividend to growth. But I will keep enough dividend funds so I have enough to supplement my SS to handle my spending. Also remember at some point our SS will drop when one of us dies. So I will need forecast what our spending will be and how much dividend income will be needed.
@racheladams7974 19 күн бұрын
No state tax but they make up for it in property taxes. The property taxes in Texas are astronomical.
@mrbigglesworth375 19 күн бұрын
Great video-- I have been questioning roth conversions for my situation. Then started to think why not just start pulling from my traditional ira first and then let the brokerage taxable account just continue to grow. My Ira and taxable brokerage account are about equal in value. I am lucky enough that I do just fine pulling from either account by themselves. In addition I was thinking about moving my taxable brokerage accounts holding to Berkshire Hatheway class B. As his holding company doesn't issue dividends or distributions which essentially turns the taxable brokerage account into a Roth. Warren Buffett isn't just brilliant but also tax efficient... thoughts???