10 Alarming Retirement Stats… Are You Ready?

[@Benjaminarmstrong684]

If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.

[@PaulKatrina.]

Most people don’t realise it, but the secret to retiring comfortably is finding a way to make returns while your money works for you. My dad, as I remember, started saving for retirement quite late, but I know he was making more than 10k returns from his investment monthly and it was completely passive.

[@CraigLloyd-fz6ns]

This is really amazing though. I'm curious as to how he did it. Was it real estate? Or he was a market enthusiast?

[@PaulKatrina.]

Haha. Investing enthusiast? Not really. Our family got introduced to a financial advisor about four years before my dad retired. That was what changed things. I've been using the same now and I think my retirement income would be on the right track.

[@tatianastarcic]

this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

[@PaulKatrina.]

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@SandraDave.]

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.

[@Armstrong741]

My $2m retirement account has gone up only by 2% in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate peace? I don’t want to fail after 22 years of working hard.

[@Theresaa12]

Do you plan on retiring before 59? That is what determines it for me. I switched to cash flowing assets because I wanted to retire early

[@judynewsom1902]

At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.

[@HarrisRyan-oy8eo]

It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

[@EverlyndPerez]

I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.

[@HarrisRyan-oy8eo]

*Sharon Lynne Hart* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@TylerofSc004]

The monthly average for a social security check is $1827. The alarming statistic is that 22% of Americans have only $5,000 saved for retirement. Invest right now! No one is going to come to your rescue.

[@greekmom]

I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?

[@greekmom]

Thank you for sharing, I must say, Kristin appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled

[@pitita585]

Millennials will have significantly less than this average social security payment when it’s time for them to retire. Sadly no amount of telling people to prepare for the life they’ll have decades from now will do much to sway them. Only hindsight has perfect vision for those consequences.

[@RS-xq4hf]

I’m in baby step 2 and only contributing my match (I know that’s a no no) and I have $60k so idk what these people are doing.

[@jonkrispeterson6678]

@AntagonisticAsianI think you should have someone help you. I just checked my 401k. Since Oct 1, 23, up 19.55%. Last 3 years, from 6/1/21, up 6.53%, and 5 years, from 6/1/2019, up 12.38% annually.

[@benjaminsmith3469]

As a soon retiree, keeping my 401k on course after a rocky 2022 is top priority. I have been reading of lnvestors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated.

[@alicegomez7232]

The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.

[@billybrannon6394]

Having an lnvestment advser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K so far, that made it clear there's more to the market that we avg joes don't know.

[@Emily-le2op]

I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?

[@billybrannon6394]

Her name is “Monica Shawn Marti” can't divulge much. Most likely, the internet should have her basic info, you can research if you like.

[@carter3294]

Thank you for sharing, I must say, Monica appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call.

[@austinbar]

I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.

[@jcurdrayeric243]

Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.

[@joshbarney114]

This is true. I'm in my mid 40's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.

[@rogerwheelers4322]

It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than half a million dollars by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

[@FabioOdelega876]

@@rogerwheelers4322 I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?

[@FabioOdelega876]

I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?

[@scrappyny7432]

I like the saying "if you aim at nothing you will hit nothing 100 percent of the time"

[@funtechu]

Ten percent retirement withdrawal rate?! TEN PERCENT?!! You know enough by this point that you should know better. If Ramsey Solutions thinks that a 10% withdrawal rate is safe, then their retirement advice is less than worthless - it's actively HARMING the people you are trying to help.

[@TheBobbyBrown22]

The math has been done that in no point in history would a 10% withdrawal rate sustain a full retirement. The Ramsey team needs to swallow their pride and be willing to admit when they’re wrong.

[@elvis1273]

I hope that people check several places an get good advice... Because a 10%... 😅 I'm planning on have a long long live once I'm retired

[@funtechu]

To put this in terms you can understand, a 10% withdrawal strategy on a 100% stock portfolio (recommended by Dave) has an 11.48% success rate. You know how Dave says you shouldn't do something that requires you to be in the 10% to succeed? Well, this is exactly that, but even worse because it's truly outside of your control.

[@funtechu]

​@@TheBobbyBrown22It's not at no point in history, but it is 11% of historical which is certainly not the kind of odds I'd plan *my* retirement on.

[@MrBrewman95]

Unless you have 5 million or more, yeah 10% is crazy high. Should be 3-4%.

[@Takar100]

0:31 "Hate to break it to you, but 0 bucks not going to get you far in retirement." Most of Americans - ::surprised pikachu face::

[@rayzerot]

It's not a surprise to them. They know. They just feel more comfortable sticking their head in the sand and ignoring the problem than making sacrifices to solve the problem

[@mathematician1234]

Stock ownership stats: Only 3-5% of the U.S. population held stocks in the late-1920s. It was 4-5% in the mid-1950s. This rose to 18% of U.S. households holding stock in 1962, 31.8%, in 1989, and 51.9% in 2001. Just before the GFC it hit highs of about 62-63%, and then dropped to 56% of adults during 2021. Ownership numbers vary predictably with education, ethnicity, and income.

[@FrankPatrick-no8zo]

I rebalanced my $800k retirement account last year out of fear, uncertainty, and doubt, and as a result, it has only increased by 2%. What are the greatest options to consider in order to guarantee a retirement that is free of debt and to experience complete peace? After working so hard for 22 years, I don't want to fail.

[@CrystalJoy-32]

At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.

[@LuvmeRos]

It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

[@albacus2400BC]

That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with please?

[@LuvmeRos]

Amber Michelle Smith has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.

[@alicegomez7232]

Thank you for sharing, I must say she appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled

[@Thehappybirder]

You don’t have to wait until you retired to start Birdwatching. I got quite a few years left until retirement and I’ve already been Birdwatching for 10 years. What a great way to relax.

[@jacobawojtowicz]

Username checks out

[@Rachel-ul8et]

@@jacobawojtowicz😂

[@marcielston3019]

We still have many years until retirement, but live in the woods. Lots of birds!

[@eastsideozzy]

you have a cool personality; the algorithm suggested your channel, and it did not disappoint.

[@davidloy4794]

Come on George you know you can't spend "around" 200k a year with a 2 million portfolio. Papa Dave has got that leash too tight after the 4% incident.

[@AP-zr3bz]

Poor guy probably just doesn't want Dave to tell him to fetch a switch again. Cry for help really.

[@TheyRiseBand]

Remember, in RamseyLand, the stock market returns 12% a year. LOL

[@JeanValjean875]

​@@TheyRiseBandYou do realize the market was up *over 20%* last year?

[@TheNotimprezed]

Who is better off, the person taking a 4% distribution during a correction or the person taking 8% with enough cash on hand to not take a distribution at that time. Who is better off, the person taking 4% every year no matter what or the person that varies the % based on market conditions and expenses for the year? The fact of the matter is you are gonna want to spend more when you first retire than when you are a bed ridden 100 year old. Who cares if you die and never touched the principal? Unless your goal is to leave a large inheritance (and your kids will have 0 issue spending your nest egg in a day), spend it on yourself, living and enjoying your hard earned retirement - especially if you retire with several million $.

[@TheyRiseBand]

@@JeanValjean875 The market averages 5-6% a year. That's why the 4% rule exists.

[@adeckerbuck]

“One rib” was a missed opportunity for the Chris Rock “I sure am hungry” clip.

[@SoUnDMaN831]

I know! I had the scene from “I’m gonna get you sucka” playing in my head.

[@conniecash798]

I was thinking the same thing 😂

[@pnwflipper2089]

😬 Or something from Armie Hammer 😬

[@mattschmitt9924]

I was waiting for the clip.

[@gunsandbrews]

George it wasnt that long ago when you were accurately suggesting 4% withdrawal, and we all saw Dave's response, and even though Dave is wrong, you are now carrying his message of 10%. I know you have a pretty sweet gig working for Ramsey, but say things you dont believe.

[@pdxshredder6883]

He probably doesn’t get to write the scripts for the videos anymore anymore after that incident

[@jimerin3533]

Social security was supposed to be a supplement not a full retirement. Its annoying that people think its their retirement and anyone suggesting it should be.

[@emoney1231]

My favorite statistic is the average person has one ovary and one testicle. Average doesn't always paint the whole picture.

[@thewaffleironn]

Average person has -slightly less- than one ovary and one testicle 😂

[@firefalcoln]

The average person has slightly more than 1 ovary and slightly less than one testicle because there are more females than males. 😆

[@rayzerot]

Yup. The average person has less than 2 arms, less than 2 legs, and less than 2 eyes. Probably less than 1 average anus too

[@danieljohnson4418]

I can't wait for your next retirement video where you present the same statistics in a different light.

[@kyungshim6483]

I know people who have zero savings. I worry for them.

[@ti89titanium]

I guess when the return during retirement is negative in one year, you have to put the money back into your portfolio? Did I understand the 10% withdrawal rate right?

[@JoshuaMccaffrey-q4]

Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?

[@Peterl4290]

as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management

[@larrypaul-cw9nk]

Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.

[@sabastinenoah]

this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future

[@sabastinenoah]

I just Googled her name and her website came up right away. It looks interesting so far. I'm going to send a mail to her and let you know how it goes.Thanks for sharing truly!

[@smithraymond09029]

The stat about 33% of Americans not having any savings is the most shocking to me. That's just ridiculous.

[@nate4fish]

Half of Americans don’t earn enough to pay federal income tax. It’s not surprising

[@mominthe209]

A lot of jobs in America are low paying and don’t come with stock options. That’s what living paycheck to paycheck means. There is just not enough left to save. I’m not talking about extravagant spending. Some people will just never have high paying jobs.

[@scoutandscooter]

I guess it was a bad idea to finance my Ford Raptor, the lift kit, the Harley and the RV? But I'm so proud to have them in my driveway. My neighbors are always "commenting" about them.

[@saeedhossain6099]

hehe🤣

[@emoney1231]

Dislike. Shilling Dave's 10% "average" withdrawal rate, rather than a realistic safe withdrawal rate is intentionally misleading. USE THE 4% RULE!

[@KennedyIvy]

I'm pretty sure he has to shill. Dave pays him

[@hardchooligan]

If you don't like daves stuff, don't follow his channels. Also there is an actual dislike button you could push, but im sure doing that and moving on won't get you the same attention as screaming DISLIKE, like a child

[@zedalvea841]

He got into trouble when he said 4% before. The same goes for index funds vs mutual funds I think he is forced to promote mutual funds over index funds.

[@AnimatedIdiotGuide]

@@zedalvea841because expense fees for mutual funds are way higher than index funds. And Dave & Co know this

[@yhckelly]

I like this channel, I like Dave's stuff. The Ramsey system can be too elementary. Yes, the withdrawal rate is insane, and the insistence that it isn't makes Dave look ridiculous.

[@svanhoosen]

In your 10% average return scenario, living on $200k/year on a $2 million nest egg isn't accounting for inflation. Big mistake there.

[@PokeWiz1583]

You're actually supposed to rely on the 4% methodology. Where you withdraw 4% of your retirement each year, so that the rest can stay in the market and continue to grow. So, 4% would technically be 80k and even with inflation, living off only 4% a year, should keep you safe for years!

[@rayzerot]

​@@PokeWiz1583I'm not sure if you misunderstand the 4% rule or if I'm the one not understanding your post. The 4% is calculate in your first year of retirement and then adjusted for inflation every year after that. So if the market dips 30%, your withdrawal doesn't change and if the market climbs 30%, your withdrawal doesn't change other than your inflation adjustment There are more optimal ways to do it but it's a great back of the napkin calculation

[@JosiahK555]

I think he knows that, but Dave reemed him for talking about the 4% rule a while ago so he has to stay on the Ramsey script. I think what he should do is save up enough of his own money, get to that 10 million mark, break free from Ramsey, and start telling the truth about retirement and withdrawals. he also needs more education on it himself though in general. there are other better sources out there for investing.. the Ramsey company is really just about helping people who know Nothing about money get out of debt so they are at least not drowning.

[@pjabrony8280]

I don't want to have the same amount of principal in the account when I retire as when I die. I worked hard for that principal and I'll be damned if I don't spend it.

[@spazzman90]

Damn straight!

[@bacon-n-eggs-e3u]

What if you spend it all & now you're 90 years old & still living ?

[@spazzman90]

@@bacon-n-eggs-e3u If you have the ability to gather a $2M nest egg by 65, you can figure out how to spend some of it without spending all of it before you die.

[@bythebook1548]

Back in the day I was all excited to get my government pension. Then I found out out dies with me, so no legacy in itself.

[@maryannl5846]

As a kid I thought retirement would be 1 long vacation. As an adult 1/2 way there it sometimes seems like a confusing juggling act. Much appreciation to George & the crew for laying out some guidelines while keeping it fun. Creepy music & Star Trek Disco clip made it even better 😊

[@Incorriglbepanda]

For the love of god, do not withdraw 10% yearly from your retirement. I’m actively working with my parents to unravel the mess caused by this advice and the smartvestor that said it would be a good idea.

[@kidneycarecoaching3766]

10% is way too much…

[@mistiwjordan3268]

To start, I would say that Chilis chain restaurant in South Carolina in the Myrtle Beach area. I don't know what other locations are the same. However, let me just say in the past 6 months. This place has revenge there. Entire place right down to the very tiniest of ingredients in their food. It now costs exactly the same. For an amazing wonderful. Outstanding burger fries drink same price as McDonald's. I would always order the Southwestern egg rolls. As an appetizer, have it for my meal. Call it a day. 2 months ago, we went there. Inexperienced, the new chilies and let me say the rewards program amazing service amazing. The burger that we got was outstanding. I don't know what happened, but they took the best of moves for 2024 amazing place. Just thought I would share since you know, it's the opening to this amazing video. Thank you for all you do all you share today's economy. Any tips any bit of help is a blessing. God bless you and keep going

[@bigcahuna42366]

My retirement savings are higher than the average for my age group. Might sound like I'm on track, but average doesn't always mean good.

[@ceapy]

Well good thing yours is higher than the average.

[@MrPabloolvera]

So Tello, does it work in the island of Guam? T-Mobile works out here and Japan. I’m stationed and will switch if it works.

[@rodrickgriffin7599]

People it's called a FIDUCIARY!

The person responsible for your retirement is YOU-not the government, not your employer, not a union. The people that whine about money in retirement are often the same people that squandered money in their youth.. The pricy car, boat, motorcycle, or costly vacation may eat away at your future.

[@k.g.saturn]

Before he was country... Conway Twitty recorded hundreds of Rockabilly and Rock and Roll songs. (And his real name was Harold Jenkins.)

[@rachelharrison7961]

Only 60% of workers in the U.S. even have access to a 401k, so if 60% are investing, that’s a good number.

[@charletfoster8917]

Pls say”invest” for retirement, ppl get confused, when you say “save”, we think a 🏦

[@ZO6Buccaneer]

Even just hinting at a 10% withdrawal rate in retirement seems pretty irresponsible. Many people aim for closer to 4%, so that 2M nest egg would only reliably generate 80k per year, not 200k.

[@Sanchyfab]

Absolutely love it!!! I'll have to be financially stable in every sense before purchasing my first supercar. The best thing to do with your money is to invest rightly because money left saving will end up with no returns

[@AliciaCrone]

No doubt being financially free and able to afford these luxuries cannot be overemphasized, making smart plans and setting up diversified investment portfolios is quite essential.

[@georgeearling905]

You don't need that much, as long as you have 250k to 350k in cash, and earn at least 40k plus is fine. It not like you are going to pay the car off, get the car, drive it for a year or two then get something else. You don't need millions of manov to oniov nico thinnc.

[@ericbergman7546]

Most people miss it but the secret to retiring comfortably is finding a way to make returns while your money works for you. My Dad, as i remember started saving for retirement quite late but I know he was making more than 10k returns from his investments monthly and it was completely passive.

[@cherylhills3227]

Our family got introduced to a financial consultant about four years before my dad retired. That was what changed things, and I think my retirement income will be on the right track, luxury cars and trips.

[@christopherherbert2407]

Please could you guide me on how to get in touch with your consultant? My funds are being eroded by inflation and seek a more lucrative investment strategy to effectively utilize before I consider retirement.

[@andbeyondd]

This is my fifth year after retirement. I’ve been following the 4% rule thing, but this isn’t really how hard I expected things to be. I still have about $146,000 outside funds in my IRA to invest. Pls how do I take advantage of this?

[@biankabrodeur01]

Now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.

[@JennaHerberholz]

I think that is a brilliant idea, I tried managing my stock portfolio by myself and I lost 50% of my savings in a very short period. That prompted me to hire a financial advisor. Since then I have made up to $680K in returns.

[@SaintYvess]

Well, Market experts sure provides an edge in investing, Hello thanks for replying, I'm curious to give this a try. Please who is your advisor and how do I get in touch?

[@professor-wright]

It was difficult for me to first save, and then invest properly. But if you do it right it works. Let time do the work.

[@ParkDari]

I don’t see anything wrong with a 10% withdrawal rate. I will calculate our lifespan to 97 and calculate our percentage withdrawal rate TO USE IT ALL UP! The kid is already on coast FI and inheriting our property will be plenty of legacy. We didn’t live at poverty level for 16 yrs to get FI to do our bucket list on a tight budget!!!😊

[@SBqwerty]

He says specifically that you don't want to touch the principle. So you're comparing apples to oranges

[@PraveenSrJ01]

Wonderful video thank you 🙏

[@MrBrucifer2]

I don’t know. I’ve seen way too many people need to go into care homes and they take all of your money anyway. Feels like it’s better just to spend it now.

[@dking1362]

There is some truth to this - just lived through it with my mother. She was in 3 different assisted living/memory care homes over 6 years. First important fact: NONE of them would accept any patient that didn't enter as "private pay" - having some money of their own, even if eventually they would run out of money and the gov't would step in. The very few facilities that accept those unable to pay anything are often poorly staffed, depressing, ugly - a place most of us wouldn't want to live. Stats show that although 70% of people over 65 will eventually need long-term care, only 15% of Americans will be in long-term care more than 2 years--so most will have to finance the majority of their life themselves. So it continues to be a gamble: How long will I live? How good will my health be? How much retirement $ can I spend and still have enough to make it to "the end"? My goal is to do the best I can to strike a healthy balance; hope for the best, prepare for the worst, enjoy some splurges now but in a modest way.

[@fsmoura]

Oh gawd, haven't even watched yet and i'm alarmed already! ( oДo)

[@liammateo287]

This seems like the worst period. Even the market are now very unpredictable. Started investing recently when the market prices were a bit high,today I am more than 60% down!

[@Ashermicheal6341]

Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to Celia dullpher

[@Lucas75332]

I agree just reached my goal of $500k monthly trade earnings. Setting realistic goals is an essential part of trading.

[@liammateo287]

Please educate me, i'm willing to make consultations to improve my situation,

[@Ashermicheal6341]

She's recognized as 'Mrs Celia . One of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.

[@alexandraesther984]

I agree. Based on personal experience working with an investment advisor, I currently have $1m in a well diversified portfolio, that has experienced exponential growth. It is not about having money to invest in stocks,but also you need to be knowledgeable, persistent, and have strong hands to back it up.

[@144Donn]

One of the most important aspects of personal finance is one's health. Almost NEVER spoken about by financial people. If you are in poor health it is going to cost a lot of money and depreciate your quality of life. If you have accumulated some wealth, Nursing Homes will be glad to take it all from you. INVEST IN YOUR HEALTH WHILE YOU STILL HAVE IT! Do not wait till you are over weight or sick to get healthy! Cultivate your health NOW , it will increase your enjoyment of life now and into the future.

[@dmzwrites1853]

If you have a company match in your 401k, I would make getting that match a priority.

[@PraveenSrJ01]

I get a whopping 6% match from Wegmans

[@rebeltheharem7028]

My recommendation to everyone who is following his advice, putting 15% into retirement (progressively increasing it every year), but over 20+ years way.. always get a Roth 401K if you can. Always. Because, you will more likely than not, be a multi-millionaire by in 20 years, and will be in such a high bracket that it makes no sense to save on taxes today. It's better to get no tax in the future.

[@robertreynard2916]

I don’t see the links that you’re talking about… how do I find them?

[@scoobie8amg]

Im paranoid about retirement. Im 36 and my husband is 34 and our net worth is around $500K. That doesnt account for any house equity we have or his pension. Paranoia is a blessing and a curse.

[@mhodge0890]

Take a chill pill and relax

[@Jane5720]

If you divorce, you’ll have half that

[@scoobie8amg]

@@Jane5720 Nope we have a prenup

[@victorblas3483]

2:10 not Pauly that story was so sad :(

[@davidibarra892]

Making my morning 💯

[@TripSoul10]

1:15 Cue the music 🎉🎉 also the fact about a daughter having more in the savings than those with 0 in savings 😂😂😂

[@rodrickgriffin7599]

I retired at 35. I'm 40 now and bring in 90k after taxes. I am just waiting for my youngest to get old enough to go back to work.

[@DustinRGreen-ww4og]

How much of a nest egg did you have at age 35 to do that? How much did you make and invest to get to that point?

[@PraveenSrJ01]

How did you get so much when you are 40? I’m currently 40 and working at Wegmans

[@hurle21]

George, did u purchase the new kirkland signature sneakers? 👟

[@wildtill9]

Does Cracker Barrell have that Conway Twitty on 8 track? Asking for a friend

[@411sponge72]

LOL

[@BenWoolman]

Cassettes are actually new school right now!

[@kirkfriend5410]

How are people in the US paying on average $144 for a phone bill. You can get them here in the UK for like £5.

[@funtechu]

It's people that buy traditional phone plans instead of going with one of the MVNOs, plus paying for multiple phones for a family. A good MVNO is around $15-20 per line, while one of the big carriers is closer to $80 per line.

[@mattschmitt9924]

I pay $165 For 5 phones and a smart watch all unlimited everything. My guess is that $144 may include payment plan for the phone itself.

[@shannoncraig509]

Not real comfortable with the stock market myself.

[@PraveenSrJ01]

Me neither since it is so volatile

[@DanielGarcia-zz9eg]

George. My father in law pass away at 66. What if we don't reach the retirement age and enjoy it. All that hard work to pay off debts, investment and BAMN, you die before 65 or 1 yr into retirement. You don't take care of your health, you won't enjoy retirement because you been working 5 jobs to reach your retirement. Now your family members take all your money or you leave them a bill to dig you 6ft under Tell that story G WHY WAIT to enjoy life when your old when you can enjoy life now why you young. It's no fun being old

[@mattschmitt9924]

I was talking a neighbor recently who told me about his travels and experiences in life. He had a good run. Did everything he wanted to as a lad. He's broke now. Might lose his paid off home to taxes. Can't even afford to have meat on a daily basis. Struggles to pay for his wifes oxygen. Not my idea of a good way to end it.

[@bacon-n-eggs-e3u]

You know what's not fun? Being old & broke with multiple ailments.

[@DanielGarcia-zz9eg]

@user-pq2cp7eu9g lifes a risk. Maybe you be Successful. Maybe you'll work really hard then die shortly after 65. Enjoy life now or work hard and die. I heard this lady retired from KFC after 40yrs. That's sad 😔. All those yrs making low pay. Not much of a retirement there. That's why so many ppl are looking for the quick rich over night. We all can't get lucky like George.

[@dking1362]

@@DanielGarcia-zz9eg In your case, it sounds like a CHOICE to spend now, not a matter of luck. I believe balance is important. Yes, we should enjoy life now - but there are many things to enjoy that are free or relatively inexpensive. AND yes, we should be disciplined enough to live below our means, because what would be more terrifying that being elderly, perhaps ill or disabled, unable to work, and BROKE?!

[@Jane5720]

That’s the age old dilemma. Don’t think everybody hasn’t thought of that because they have, it’s a balance. 😮

[@NethiramVideo]

Flokong is the new and fresh Floki! Awesome

[@RajibPahariya]

Flokong is going to be huge in the next few months I believe that

[@wmp3346]

401k funds are limited and charge higher fees. I have most of my savings invested in taxable and IRA accounts. Open a SEP IF self employed. I can comfortably off my portfolio income with out withdrawing principal

[@mikeocksthrobbin9404]

I’m still didn’t find out why 3 coffee cans of change was alarming.

[@scottyshields9876]

My company had a Roth 401k.

[@harknowhere]

What am I supposed to do if I’m 27 with $77,000 in student loan debt, a 7 month old son, unemployed, and nobody will hire me? I think I’ve sent out close to 1000 applications this week and it’s just all rejection after rejection

[@TShirtAndReeboks]

Maybe do some contract work while waiting or start your own side gig based on whatever you went to school for?

[@christinagreenwood2370]

Look up Ken Coleman. He’s the expert on this. Good luck!

[@JeanValjean875]

Look into Ken Coleman. He's the Ramsey team's career guy. George gives financial advice.

[@TShirtAndReeboks]

Also, maybe get feedback from friends and family about what you can do differently in the job search. Sometimes another perspective can help us see things in a new way.

[@harknowhere]

@@TShirtAndReeboks my friends are telling me to join the police department and my parents are just telling me I’m cooked

[@kathypearson5963]

I believe retirement is all about the lifestyle you want to live when you retire no one knows your destiny but God outside of your monthly expenses you want to have a little money to live the kind of life you want to live after retirement add that up and start saving. If you want to grow it a little bit then invest it if you can afford to lose the money otherwise put it in a high yielding saving do what you can and leave the rest to God because we don't know our future we're not even guaranteed to retire or even see the money that we've saved all those years it may go to someone else or something else so don't stress over it playing prepare and pray.

[@jaweav2]

You guys need to have a meeting to settle this withdrawal rate fiasco. This doubling down is just aggravating. Suggesting ppl withdrawal 10%/year is just irresponsible. Can’t it be variable based on prior years returns and current balance with plans for upcoming year? I’m not arguing your average returns, but no one knows what tomorrow will bring.

[@up_gamer_55]

I see Flokong with 50x, maybe even 100x. Binance also gonna have that

[@tandumdrum91]

George has one of the best editing teams on KZbin lol

[@Madchris8828]

I honestly dont even believe 61 percent are investing. Probably alot are investing but into alt coins. Not stocks or the s&p. I personally know only a very small amount of people who actually invest. Like maybe 6 people

[@joycewright5386]

Retired 8 years and I’m still scared to start using my savings. I’m still living on social security alone. How do I fix this mindset?

[@DigiTiLMon]

I feel the same way about savings. I’d suggest you develop a plan with a professional. They can give you a plan, so that you can compare your reality against the plan and know you’re on track.

[@crystalh1402]

Have you done a few budgeting scenarios to see if you spend more where you will be in 5 years 10 years etc? Maybe if you see the data it will help change your mindset

[@Dividendsmattertoo]

You hav to do a buncha mind tricks

[@martinguldnerAutisticSwanGuru]

Sorry but that missing Gator is smoking on a grill in Tallahassee, Florida Go Noles!!! I am about 40% the way to being a millionaire thanks to an inheritance in 2020. Is a US Post Office worker on the list of millionaires? My brother who died in 2020 had a net worth around 800k when he died.

[@laljoyreang4138]

I respect your work mate so you say Flokong good one to use?

[@mskuriscak]

"I'm a financial expert! Also.... you can live off 10% of your investments each year!" interesting

[@adamcape8451]

Evidently you didn't watch the episode lol

[@DustinRGreen-ww4og]

Haha right I really relate to this comment. 10% is a really good year with the stock market…the Ramsey team acts like it is so normal. There will be lots of years where it’s negative. Look I invest and have most of my nest egg there but I know eventually things are going to crash…one day the US debt will catch up to us, and look at the people that run our country…plus one day we will be in WW3 🤦🏼‍♂️

[@DsiakMondala]

I am no money expert but money surely had to devalue like this. Plenty of bs jobs that create no value and banks still print and lend money based on that "income". I am surprised it is worth anything at all, that we can go to a store and exchange printed paper representing the value of "sustainable development of environmental innovation" for food is a miracle

[@Jumpman67]

Banks do not print money. I don't think you understand how inflation really works.

[@9liveslisa]

Great video, George! My mantra is budget, save, and invest. Don't forget to educate people on HSA's. Having a bucket for out-of-pocket medical/dental expenses has been very helpful. I recommend that everyone open up an HSA.

[@SBqwerty]

How is it that 61 percent have investments but half have $0

[@guhreenskittles]

Statistics is dependent on the source. Zero dollars stats was from Ramsey solution and 61% is from Gallup. Each source samples a different part of the population

[@SBqwerty]

@@guhreenskittles the statistics are supposed to reflect reality. That's the point. And it's trivially obvious that one of them is incorrect

[@delayedgratification581]

What makes you a personal finance expert, any real licensing?

[@fsmoura]

_"Retirement? Whats that"_ _"You know, when you stop working"_ _"You guys work??"_

[@meve531]

George, you make me smile. Love your videos! What kind of account would you recommend opening for my 8 year old daughter who has been saving her chores money? 😊

[@markmurrell1894]

High yield savings account

[@TheyRiseBand]

@@markmurrell1894 Many banks require $25k minimum to get the higher rate. That's one hell of an allowance.

[@DanielGarcia-zz9eg]

Can you do a video on where social security money goes after you die. My father in law pass away at 66. Where does that 45yrs of social security goes? Say it gets pass on to his wife and she dies in 2yrs at 68, where does the rest of the 45yrs of social security goes???? Sounds like social security is a huge scam only a small percentage of people that get to enjoy it in retirement Government thinking you only live 10yrs and no more payments. Well unfortunately ppl are living 90 to 110. Government wasn't expecting 30 to 40yr payments

[@mrw23]

Extra rib!! You certainly have a great funny bone.

[@savagebeastking8703]

1:51 he’s wrong you can save your way to wealth it’s literally the only way to do it. After he says the sound bite he always goes into investing. Investments are just another form of saving. When you invest you expect to get that money back at some point with interest. When you put your money into a high interest savings account you are also investing but it’s less risky then investing in stocks. Provided you keep your at or below the federally insurance limit. (Always make sure your money is FDIC insured. (Federal deposit insurance Corporation) this protects your money in case of a bank failure). If your bank isn’t fdic insured there’s a potential risk of loss of your deposit funds if something goes wrong with that particular bank, be careful who you bank with. stocks generally have a higher rate of returns over the years. While high interest saving accounts generally have a fixed year on year rate. I don’t understand why he says you can’t get rich by saving that’s not true. Of course there’s more to it then just that, but it’s one of the most important parts. Im assuming he’s talking about saving money. In a bank account, but maybe he’s actually saying saving cash in like a jar or piggy bank at your home. Even if he is, he’s still kind of wrong. Even at 0 percent interest if you save more then you spend your wealth grows. That’s just how math works. I guess he has to sell ad space and that is phrase is handy for helping do it although technically in factually incorrect. Don’t get me wrong. I think the show gives great advice. That phrase just always irritates me.

[@SBqwerty]

Saving is first, investing is second. Saving is not investing and investing is not saving

[@rachelcrossen8136]

Real question: why is the goal to never touch our base amount of money?

[@dking1362]

I'm with you - of course I don't want to run out before I die, but it does me no good to live like a miser and never touch all I've worked so hard for!

[@BajrangiKumar-u4q]

Binance listing Flokong is set in stone. 🔥

[@AndrewCase42]

You are destroying your credibility with the 10% withdrawal suggestion.

[@mattschmitt9924]

He didn't suggest 10 percent withdrawal. He said what 10 percent would get you. Its the average return of the market.

[@hudsonmilbank]

Even people making a lot of money live "paycheck to paycheck". Otherwise, they wouldn't be working. They would be retired.

[@JosiahK555]

don't forget to ignore dave's 8% withdrawal nonsense, and follow the 4% rule, and if you can go even more conservative.

[@IrishMexican]

Why do you always preach 10% returns? It is more realistic when you factor in inflation. Telling someone they will have a million dollars in 40 years is realistically less than $300,000. And that’s if inflation returns to 3%. Also, why are you recommending a 10% withdrawal rate? That’s absurdly high.

[@kimberlylepine5115]

The Haunted Mansion music makes this video.

[@christinab9133]

❤❤❤

[@hopefilledfinancial]

George, don't make me call the show again.

[@richfrommitch]

Create a budget, invest in tax advantaged accounts, don't spend more than you earn, invest in your 401k and so on. Right let's unpause the video and play Kamel Bingo.

[@Jackn-d8s]

Hallelujah!!!! The daily jesus devotional has been a huge part of my transformation, God is good 🙌🏻🙌🏻🙌🏻🙌🏻🙌🏻was owning a loan of $47,000 to the bank for my son's brain surgery (David), Now I'm no longer in debt after I invested $8,000 and got my payout of m $270,500 every months,God bless Christy Fiore 🇺🇸🇺🇸🇺🇸..

[@Omen-id6xg]

Hello!! how do you make such monthly, I’m a born Christian and sometimes I feel so down of myself 😭 because of low finance but I still believe God

[@EzechuHeadd]

Hi that's good you have idea &share to those who deserve it that's great god bless🙏🙏

[@Steph-uz8jd]

She's a licensed broker here in the states🇺🇸 and finance advisor.

[@Steph-uz8jd]

After I raised up to 525k trading with her I bought a new House and a car here in the states🇺🇸🇺🇸 also paid for my son's surgery….Glory to God, shalom.

[@Gloryjerem]

Can I also do it??? My life is facing lots of challenges lately

[@RS-xq4hf]

Only 61% are investing because the other 39% are in baby step 2, George 😅

[@donaldlyons17]

George is one of those people who don't bother with stats based on wages and expenses... WTF he must have noticed the majority don't outpace expenses....

[@brianmcg321]

Jesus Christ. Recommends a 10% withdrawal rate. Y’all are just begging to get sued more aren’t you.

[@brihal6498]

Not sure I heard anything about withdrawing 10%. But I do think he said that on a $2M investment it should avg a $200k return (average, he was clear about that). However, I would agree with you. 10% withdraw in retire would be too high for my comfort level.

[@MikeCasey-z5m]

Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?

[@williamsscott3303]

As most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management

[@Pat_laura22]

Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-out-break, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.

[@Taylor_m16]

this is huge! I am looking up to the adviser that guides you please? I only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future.

[@Pat_laura22]

Her name is “Iynne Marie Stella” can't divulge much. Most likely, the internet should have her basic info, you can do a research about her.

[@geraldhoward6351]

I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.