4 Signs You’re Saving Too Much for Retirement

[@MrEscape314]

2:45 You're only living for the future. 6:30 Your relationships are struggling. 14:45 The line between needs & wants is blurred. 18:45 You've surpassed your financial goals.

[@SirJoshuaCohen]

The hero we don't deserve

[@tonyasanders7523]

Thank you!

[@realnpm]

Thank you sir

[@johnneil6653]

You missed one. 0:08 Bo is excieted.

[@CliveBirse]

The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.

[@mikegarvey17]

Yeah, people miss that part. You don't jet out to Puerto Rico with your life savings. Proper investing and a good business acumen are big pluses. Invest in the stock market, real estate, build businesses. That's just it.

[@ThomasChai05]

Safe to say not everybody has the skill to pursue investing. But it's always easy to follow the advice of someone who knows how to i.e a financial advisor. You could anywhere between 10--40k with the right ones. Online businesses are a good bet too if you are savvy.

[@mariaguerrero08]

@@ThomasChai05Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.

[@ThomasChai05]

*Izella Annette Anderson* is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@91ScottieP]

I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you

[@Christopher-i5j9o]

"What the hell is this?" -Me watching this on my 6 year old phone in 10 year old underwear eating top ramen making 250k saving 75%.

[@td4531]

I feel attacked😅

[@Mehwhatevr]

only 75%. If I were making 250k I'd be saving like 90% haha edit: i'm just making one-up joke. calm down.

[@AT-hs9nf]

Jokes aside it all depends on your age and your goals but I will still say try enjoying a bit more and balancing life. My underwear definitely gets replaced every year 😂. Phone gets replaced every 4 yrs 😂. Live a lill brother 😎.

[@pb25193]

​@@MehwhatevrYou can't because u pay more than that in tax

[@Christopher-i5j9o]

@@pb25193 yeah I can. I'm talking post tax anyway; but I'm married and max my 401k, HSA, multiple 529, and wife and I max traditional IRA. All of these reduce tax liability. After that taxable brokerage.

[@retnuh1262]

Wow this video called me out left, right, and sideways. I really needed this. I constantly starve myself to save money, feel guilty about paying rent when technically living in my car would suffice in having a roof over my head. I haven't seen my friends in months because I know they will want to go out to dinner (and spend money). This video called out basically every behavior I have. Apparently I am deep in the dark side without realizing. This helped me see the light. Hopefully I can strike some kind of balance

[@Lucky008aau]

Invite a friend on a walk. Bring a drink with you so you have an excuse not to stop at a cafe.

[@secondsea2]

Or invite a friend over and cook dinner for two. Ask them to bring dessert. Much cheaper than eating out, and you still get to see your friend!!

[@raynoldgrey]

The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.

[@emilydeep]

Please can you leave the info of your investment advisor here? I’m in dire need for one

[@andrewlogan7737]

She seems to be well-educated and well-read. I ran a Google search for her name and came across his website; thank you for sharing.

[@kuebby]

What do you mean? My parents are getting social security just fine.

[@SpazzMatticusTheGreat]

​@@kuebby They're bots talking to each other promoting "Sharon Ann Meny". It's written to look like one person is giving advice to another while a bot army likes the comments to make them seem legitimate.

[@jeffbrown773]

We are saving. We have good jobs. 2 years ago we decided to take a bucket list trip every other year. Last year it was Hawaii with 12 family members, some in their 70s. That can’t wait 20 years to do. It’s great looking at those pictures on my desk at work. Next year is France and the low counties.

[@fennugreek-gs5zb]

We took wonderful family vacations the last three summers, in which my kids were finishing high school. It felt like a bit of a shock suddenly opening the spending spigot, but the family time has been wonderful and we won't have the same chance of a shared vacation now that our kids are older and setting off more seriously on their own lives.

[@atomicmuffins1328]

Couldn’t agree more. I’m more than happy with skipping meals and avoiding discretionary spending so I can spend time with my elderly parents on a once in a lifetime trip. I have my whole life to save and invest and I’ve come so far already, what I cannot buy is time, time with my family that is older than me. My parents will be dead within 10-15 years, the memories and pictures I have of our time together will be around after I’m in the ground too.

[@wmwoods-l4f]

My original retirement plan was to retire at 67, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.

[@j.ottinger]

I’m 62 and still working full time. I do enjoy my work, it provides me with purpose and has secured my financial future. Most people are too eager to retire as early as possible. Even if you do retire early, best to get a part time job for the reasons cited above, as well as following many if not all of the suggestions in this video.

[@speak2Gary]

A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $$275k to $850K...

[@karitanaw]

Could you kindly elaborate on the advisor's background and qualifications?

[@speak2Gary]

I have worked with a few financial advisors before now but i ultimately settled for 'Annette Marie Holt'. She is SEC regulated and licensed in US. You can easily look her up

[@karitanaw]

Thanks a lot for this recommendation. I just looked her up, and I have sent her an email. I hope she gets back to me soon.

[@McCoig]

Bo never gets excited so this one must be good 😉

[@Kornheiser10]

His negativity always brings me down at the beginning of each show.

[@keithbrown152]

😂

[@applefarm6126]

@@Kornheiser10 Nah it helps me with warnings.

[@dforrest4503]

Nice topic. As someone who was a financial mutant, and worked way too much, the struggle is real going from saving to spending in retirement. I’m getting there, but it’s a pretty big shift.

[@kuebby]

12:00 this is ABSOLUTELY correct. My parents had those planning meetings 20-30-40 years ago, and today they're living their 5-year international plans. I'll admit, there were times they were a tad miserly when I was a kid, but I feel it all worked out in the end and most of those miserly bits could also be considered lessons in not wasting money (which I learned). 15:45 another excellent point. If you don't take care of your health, you won't be around to spend your retirement anyway. This is my first Money Guy video, it was recommended in a video critiquing financial youtubers, and it seems like a great suggestion. Thanks!

[@ambercalkins733]

Thank you Brian for mentioning to factor in health! Money cannot buy time.

[@TheyRiseBand]

Money buys freedom, which allows you to spend more time as you see fit. In a way, it does buy time.

[@PeculiarUncle]

Hmm.. Funny timing of the video for me. I went too underbudget this month because of all the frugality & free meals I'm getting at work. I decided to use some of the extra money I saved for pizza tonight. This is my first pizza night in 2 years. 😂 I can't be any happier, totally worth it. 😁

[@heidikamrath1951]

But of course you won’t be eating the entire pizza, right? Save half for lunch tomorrow? 😊

[@PeculiarUncle]

@@heidikamrath1951 Yup, I saved the other half for tomorrow. I'll get to enjoy the pizza twice. 😁

[@gsquared2394]

Nerds

[@afta-mf1tl]

Never stop being excited, Bo! Never stop!

[@GeorgeCaulfield1]

This is why you need a fun money line item in the budget. A couple hundred bucks a month to just go to the movies, golf, a date night, small sports gambling, fantasy football, candle making class, whatever.

[@sirheisenberg4459]

People are facing a tough retirement. and it's even harder for workers to save due to low-paying jobs, inflation, and high rents. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire in.

[@belobelonce35]

The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.

[@type-r3x]

This is exactly how i wish to get my finances coordinated ahead of retirement. Can I get access to your advisor?

[@brantheeskimo]

Thanks for this. Found her and looked through her credentials before contacting her. Once again many thanks.

[@BiggMo]

Quit scamming the audience

[@erikjeanes8359]

This may be one of the best, most practical, episodes. Well done

[@dwr1611]

this is a great reminder for the over savers (or even the moderate savers) to not lose sight of what this whole saving thing is really about.....

[@memydrone7079]

I am sooooo excited how excited you are…it’s exciting… 😂 in seriousness I might be 53 on SSDI and permanent disability for the last 12 years from a stroke and then divorced 4 years later… living off of 30k a year for the last 8 years after that but I can still be a financial mutant and kick debts ass 👍 $4317 of CC debt down to $1000 in 18 months and on track to be debt free except for my car by this December…don’t worry I have a 2018 Kia Soul I put 10k down and $260 a month at 8.99% with 3 years left… thanks to the wisdom and motivation of the Money Guys I’m actually going to succeed 👍

[@beckydegraaf6976]

There are some that wants to play it so safe that fear frequently prevents us from living lives that are richer in meaning and experience.

[@MT-sq3jo]

Spending and enjoying the fruits of a lifelong saving habit post retirement is harder than most people think😂

[@MotoMatsalleh]

Good video, there is a lot of good finance education for DIY investors, but not much in the way of true holistic financial planning….also wanted to give a shout out to what was said at the end of the video, spending is a skill too!

[@shrapmetal]

One issue is that it is tough to be sure whether you’ve reached financial independence, especially if you have kids and parents who are not in a good place financially, even when you think you have enough to support yourself for the remainder of your life there are loved ones who you anticipate will need your help at some point.

[@rgarri6396]

I started with nothing and I’m trying to accumulate as much as possible. I live great but in my head the total equals success in your life. When I was young I was led to believe the richer you are the more successful you are. Wealth is a state of mind.

[@TheNotimprezed]

I recently reduced my retirement contributions. I saved/invested $40k last year but my accounts grew by $240k and blew past $1.1m. The compound interest has hit critical mass and what I contribute feels like chump change and thats a good feeling. I still have 20+ years before I retire.

[@MrEscape314]

That's one thing they don't seem to talk about. They say you should flip from saving to spending. If you did well when you're young, shouldn't you have a decade of not saving AND not spending your savings? Not retired, but not saving for retirement either.

[@kevinschultz6091]

@@MrEscape314 - This is essentially a variation of the FIRE movement - it's called "coast FIRE" - ie, saving up a bunch, then letting compound interest take over while you still work, but spend that money you would previously be investing.

[@Zombiebeast1995]

@@MrEscape314they say that if you do the leg work early you can let off the gas after you are 40 or older…. BUT, they always say be careful doing this and run your numbers and also, you may be successful enough that you can continue saving the 25% and still live a great life.

[@MrEscape314]

@@Zombiebeast1995 yea, they say you can let off the gas but then basically tell you you shouldn't. I'd like advice on the process of going from maxing my retirement accounts for the last couple decades to putting in less. The FOO doesn't seemed setup for Coast FINE times. I don't wanna flip a switch to spending, I just wanna dial back my savings.

[@jameswalker590]

@@MrEscape314 The solution seems obvious...save less, right? If you don't wanna spend it, donate it.

[@rarelycares8416]

Retired earlier this year at 55, wife just retired this week. Still trying to make that switch from saver to spender. Saved almost double what I estimated I will need. Booked a $40k cruise for next year and going business class. Also booked a Ritz-Carlton week next month, it's painful but really trying to enjoy myself after being a financial mutant saver for 35 years.

[@marmantole]

How much did you accumulate? 😃

[@jonniwright224]

Congrats! Enjoy and have an amazing time!

[@Optimus-Prime-Rib]

Modesty wasn’t a skill you picked up in 35yrs it seems. Live your best life. Broadcasting the specifics of your expenditure makes you come across as a chump.

[@marmantole]

@@Optimus-Prime-Rib why are you so bitter, dude? Some people find that inspiring.

[@rarelycares8416]

@@marmantole Almost $5m, although maybe I shouldn't say or @YouPube may get even more offended.

[@michaelwiebeck3]

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?

[@Rachadrian]

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

[@Aarrenrhonda3]

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.

[@CindyValenti]

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

[@Aarrenrhonda3]

Annette Christine Conte is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment...

[@CindyValenti]

My needs are kind of unique and complex. I'll contact her nonetheless, and I hope I'm able to make something out of it.

[@jayholiday256]

I’ve lightened up a bit, my numbers are great according to the calculators like Honest Math. I’m generous and semi retired, we got a nice retirement home and go on plenty of vacations. I also enjoy helping my kids get established in their careers.

[@arh1234]

Amazing job!🎉🎉🎉

[@brandon8531]

Great place to be! 👌

[@user-bs1lj3kv7h]

I must admit that turning from saver to spender is hard to do! I’m retiring early at 55 in a few months and have been saving 50% of my $260k gross pay for like 10 yrs. Net worth $5M and empty nest. I started “test driving” some different spending habits to help feel better about letting go a bit. It is working but I do still ask for the senior citizen discount!

[@rodrigok1220]

Save roughly 15% of mine and my wife’s income. Could save more, but trying to get mortgage paid off, my youngest through college - we’ve already put two through with no loans. Take vacations, travel overseas every two years. We didn’t always save that percentage, but increased it over time as we received raises or bonuses. Always pay your future self if you can… We tend to cut back on buying clothes every week or expensive cars. We are probably most frugal when it comes to material things. I hardly ever buy furniture, new TV’s, etc.

[@J.FamGuy.M]

If you are paying down a mortgage and maintaining/improving property, you are investing in real estate.

[@Bloogly89]

Sign #5: You're not GENEROUS! You guys touched on this, but I just wanted to emphasize it more. Money will control you, instead of being free from the love of money. Being generous helps you to be free from both worry and greed. Give to people in need that you know, your church, charities, etc.

[@wilkinsonrg]

YES! Basically, be like Ebenezer Scrooge after he had been harrassed by the three Christmas ghosts. 😁

[@spdog3344]

Great comment!

[@Bloogly89]

@@wilkinsonrg yes lol

[@aboutwhat1930]

A couple times now I've idly thought about what I'd do if I won the lottery. I realized I'm greedier than I thought I was. I wouldn't put "give 10% to the Church and charities" from the initial sum. I was holding off, I couldn't even commit to a theoretical idea of basic generosity, much less to be the best Steward of greater wealth.

[@Bloogly89]

@@aboutwhat1930 Very honest of you!

[@AdamLevine759]

I’m 55 from Colleyville Texas but worked overseas all my life. I have savings of $1,000,000 and I'm ready for retirement, only concerned about the soaring inflation. Is this enough to retire comfortably, or do I need some sort of money management.

[@NicoleAniston-o]

Glad to hear from a fellow Buckeye! A comfortable retirement really depends on your lifestyle.

[@sarahdwormley]

If I were in your shoes, I’d consider consulting a financial advisor. You’re only 55, and with the average life expectancy in the US being around 77.5 years-and many people living well into their 80s-your $1 million will need to last you through those years and cover any unforeseen expenses.

[@TomGmaan]

I agree. Drawing from my own experience with a financial advisor, I've grown my well-diversified portfolio to $2 million. It's not just about having funds to invest in stocks; knowledge, persistence, and steadfastness are crucial factors in achieving exponential growth.

[@Sylvesterhunter870]

I'm glad i found this discussion helpful. My portfolio hasn't performed well lately, and I'm considering seeking guidance from a financial advisor. How can I get in touch with the person who's been assisting you?

[@TomGmaan]

She's known as "Melissa Elise Robinson," widely recognized as one of the finest portfolio managers in the field. Simply look up her name to find all the necessary details to work with and schedule an appointment.

[@Villhelm478]

Y'all...this hit at just the right time. Thank you!

[@pavlindrom]

Could chapters be added after the premiere? I always catch them after, and chapters would help me get a summary of sorts. Preciate it!

[@Thomas-fl5zi]

if i follow the money guys advice, my budget will be: housing - 25% retirement investing - 25% taxes - ~20% all my other bills plus all my wants - 30%

[@arh1234]

Looks like an amazing budget! Great job on being car debt free.

[@JohhGaudelli]

Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.

[@robertharry6971]

Absolutely! A key to success in stock investing is to avoid impulsive decisions based on fear, which can lead to premature selling. It's essential to recognize that stocks are long-term investments, not get-rich-quick schemes. seeking the expertise of a financial advisor is essential to help make informed decisions.

[@dannywilson258]

This is why I've entrusted a fiduciary with my investment decisions. Many underestimate advisors until emotions lead to losses. My advisor crafted a tailored strategy aligning with my long-term goals, guiding entry and exit points for the equities I focus on. This has grown my portfolio to $780k, generating sufficient dividends for my household's needs.

[@MitchellStevens-bt7gf]

Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.

[@Kornheiser10]

Let's all agree, if Bo's biography is not titled "Brian, I Am So Excited" we'll all be a little dissapointed. 😂

[@Travlinmo]

Sadly I could not update Wikipedia to say that… he isn’t on it YET… or I spelled it wrong!

[@grega2362]

😁😁

[@danielpinzow3900]

One of the best videos on KZbin. All truths spoken

[@cheezybred]

Excellent video for people on the other side of the spectrum. Sometimes i can get so goal focused and forget about living right now.

[@kylegragg]

Are you saying my 93 honda is potentially not safe

[@davenordsieck6444]

The needs and wants one is good. For me, I recognized the needs for term life insurance and buying back my time (yard work). That Porsche is still pretty clearly a want 😂

[@anniealexander9616]

I think some people are happier with less. I hate clutter. Dining out adds pounds if its done everyday. Im happy kayaking down the river, swimming, fishing, hiking (trails), rock crawling, estate sale, etc.

[@ElisaAvigayil]

But kayaking rentals are expensive and sometimes I skip out because I don't want to pay for the rentals. I'm going to stop doing that.

[@anniealexander9616]

​@@ElisaAvigayilI don't blame you. I think it's ok to treat yourself.

[@BMGPark]

It is very rare to find people who save too much. Also, there is nothing for us to worry about as when it’s time they also loosen up and enjoy life. It’s just not that time yet.

[@abluelark]

This video is extremely helpful for me right now. I'm a 29yr old single guy who is retirement rich, and I'm saving about 44%. I have only been on 2 dates in the past 2 years, don't spend much on myself, don't own a car, and live a very simple life. I'm happy though. This video is making me rethink how money is impacting my social life.

[@alannaalbritton381]

This is my husband and as a wife I’m gonna say please balance. It’s important for your life to have balance 😊

[@abluelark]

⁠@@alannaalbritton381thank you for the comment; balance is important. I spent the afternoon looking at cars to potentially buy next year, and I’m splurging a little tonight on myself!

[@joshhoodrat451]

@@alannaalbritton381anything worth doing , is worth doing to excess, moderation is for cowards ! The road to excess leads to the palace of wisdom

[@michikoiesaka3365]

Saving too much can never be wrong exactly right when you recognize maximizing and can make adjustments on your needs.

[@mikebarton8671]

Can you please do an episode for veterans. Those with retirement and disability pension combined, and those just with disability pension??

[@alisonkeogh]

This would be really helpful for a couple of my friends. Disabled on duty before hitting the time threshold for a retirement pension. Hoping this note crosses Creative Director Rebie’s path 😎

[@arh1234]

​@@alisonkeogh make sure they file their cases with the VA. There are reps on many bases/posts that can help hugely with the process.

[@alisonkeogh]

@@arh1234 Thanks, I believe that they have and the results were disability benefits but no retirement. I’ll check back with them to make sure they’ve exhausted the options. In the context of this show, I was thinking more about how they should try to build security beyond VA benefits over the next ~25 years.

[@88OUTthaGATE]

Huge missed opportunity for “Darth Save-ious”

[@gibblespascack1418]

The line between needs and wants. Most people today do not understand the difference between needs and wants. Do you really need to upgrade that Iphone every 2 years, or that car every 3 years? Some people say yes, but they have no clue what actual needs are which is keeping people poor or always making payment.

[@russthompson4296]

Then question is at what point can one pull back on the contributions? IE when the retirement account grows at 30K, 60K, 90K a year on its own?

[@LiamRichie825]

This is a personal attack - me, watching on my 7 year old ipad, in my house with only gifted furniture

[@elsagarcia6153]

Same. My iPad is about that old, most of my furniture has been gifted and my car is almost 20 years old! But I am a bit frugal because I love traveling the world and that is very expensive!

[@bunacat1]

All of my furniture is at least 20 years old (some of it given to me) and my car is 11. I finally bought some adult dishes (ones that match and aren't chipped) a couple of years ago. Just paid off the house though. Victory!!

[@Lucky008aau]

@@elsagarcia6153 @LiamRichie825 You guys have ipads?

[@JacqueCRISCOsd]

I have a second camp chair for the living room if you need it.

[@Cyb3r_Sloth]

Man, my money guy bingo will never be complete. I keep missing Bo starts a video without saying Brian, I am so excited about/for... 😂

[@gosman949]

Good words that always is impactful for someone like me!

[@TheFirstRealChewy]

I do things in the following order. 1. Spend only as much as I need. 2. If there is money left, save and invest only as much as I need. 3. If there is money left, split the rest and spend only as much to be comfortable and invest the rest. 4. If there is still money left to spend, invest the rest to reach FI faster. 5. If I've reached FI then focus more on helping others get ahead. I'f I become super wealthy it will be due to helping others.

[@wildfoodietours]

Not being able to distinguish between wants vs needs is the biggest detriment to building wealth.

[@JohnSmith-k1x]

You can never save too much, with worlds markets including the U.S. in constant flux and unpredictable weather patterns that impact our daily lives, It just makes good sense to save as much as you can, In other words "You can never have to much savings" Thanks

[@RidleyHolmes-sr2tw]

Your best show yet. I find myself getting cheaper the more money I have.

[@Mehwhatevr]

I don't drink. I don't mind splitting the bill evenly for food. I don't split the alcohol though.

[@Mehwhatevr]

@@hualon fi? The thing is that alcohol can cost as much as a dinner where I am. I order a dinner, and my friends eat dinner and drink 2 or 3 beers or glasses of wine... I'm not going to quibble if my dinner costs 10 USD and my friends eat a dinner than costs $15. But when I spend $10 on dinner and my friends all spend $30 on dinner and alcohol... nah.

[@bunacat1]

Yeah, in my 20's I made the least of all my friends. We would go out to dinner and they would all get 3-4 drinks and I would drink soda (I was not a big drinker). Then they would want to split the bill evenly. I would often pay $20-40 more than what I should have. I didn't say anything for a long time, but then stopped paying for their alcohol. They started saying that I was being cheap which was weird because in my view, they were the ones being cheap expecting me to pay for their alcohol. I stopped going out to the higher end places with them, then eventually stopped going out with them to restaurants altogether.

[@Mehwhatevr]

@@bunacat1 My friends don't have an issue with it. They bring it up themselves. I agree with you that there's to sides to the cheap spectrum. There's a) not wanting to pay for anyone else. b) wanting everyone to pay for you. your friends were claiming you (and I) are a, but really, they're b. The people I go out with, they get the bill and they immediately separate the food from the alcohol. and then we all split the food, and I think more often than not, they all pay individually for the alcohol they drank. haha. They're good people :D

[@aphromew4502]

If you are a high earner, you can easily pass 25%. There comes a point where more money doesnt really improve your quality of life. Yes, i love eating out, but I dont value spending 400 bucks on dinner. When im in Rio and I can have 20 dollar fillet mignon, I eat out all the time. I just think that when i look back on the year I dont feel joy when tallying up restaurants, ubers, spas, but i do get giddy about photography, travel, and cars. There are things I just dont value, regardless of how much money I have I dont like to 'waste' iy. However, they are right about how it can stress social situations. Thats why ill budget for eating out as I understand my girlfriend or friends may not have the same value system as me - but I can afford this. You guys had a show a few months back showing that each age group was crinimally underfunding their 401k

[@gillm12]

My wife and i have the money fights. Never thought that being responsible would lead to so many fights

[@dorian-b8h]

I've been purchasing stocks since the beginning of the year, but nothing has changed. However, I've been reading articles about people who are still in the same market who have made over $350,000 in just a few months. What am I doing incorrectly?

[@shizue-w7n]

Investors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor.

[@shobull8695]

Did they prove 100% without a doubt that they've made $350k in a few months?

[@rethinkrich]

I know for me, I save too much and need to spend a little more and enjoy my success!

[@17h127]

Brian hasn't been to the same restaurants as me lol. 57$ for a glass of wine.. try 200$ for a shot whisky or 120$ for a glass of sake. I've had some large bills lol. Fun memories though :). And I feel attacked. Pinching pennies brings me joy. I love saving 90% or more of what I make.

[@Travlinmo]

The wine comment. My wife’s family is serious wine drinkers. We drink a beer. When we go with family we pick up the bill IF the drinking is beer… if they dip into liquor or wine, they can buy!

[@tonysilke]

I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.

[@JefferyDuns]

Consider diversifying your portfolio with a mix of stocks and stable assets. Seeking professional advice now could provide valuable insights and strategies to navigate market uncertainties and protect your investments.

[@nathanyork2358]

I’m a teacher, $67k/y = $6.3k/m. Of that, I save & invest $3k/m between my 403b, Roth IRA, HYSA, Indiv.Brokerage, and pension. So, almost 50% of gross, pre-taxes. I live frugally because the future is going to be darker and harder.

[@LowInformation]

I invest about $2.5k/m. I went thru 2000 and 2008 bubbles. Times are good, but times can get really bad. Better to have more than not enough.

[@MrPrediluted]

Gotta enjoy yourself along the way. I make $250k early 30s, and we probably save about 30% after tax excluding employer match. Employer match is another $25k. But we have a long time horizon, have young kids, and want to enjoy it with them now. So still saving heavily...but I like my job and it has a long upward trajectory, with no interest in retiring much earlier than late 50s - so might as well enjoy some of it in the meantime.

[@guhreenskittles]

Great video!

[@rebeltheharem7028]

I'm saving too much for retirement, but at the same time, my only enjoyment is travel, which is limited to my vacation time of around 3~4 weeks per year. My other hobbies are just games and outdoor exercise which are cheap hobbies... Honestly, only started traveling more because I've had multiple promotions over the course of covid (which killed any travel plans anyways). Since my daily living expenses remained the same, and I don't suffer that much from life style creep, my savings percentage have increased. But well, I guess I can travel on a bigger budget now (which I have to, thanks to inflation). No more $50 motels and hostels for me.

[@freddybie]

My wife and I stopped going to fancy dinners with friends because it started out as a $100-$120 a person, good night out, but after a few years got out of control. A much more well-to-do couple started coming and it exploded to $250-$300 a person because of the $60 a glass scotch and bottles of 20+ year old wine, both of which my wife and I don’t drink. We were looked at as the “tight wads” which didn’t sit well with me.

[@spdog3344]

Great videoMy wife and I have decided we are going to scale back from 25% into Roth 401Ks once we hit around 40 (32 now) we both started early and are on a great track. She gets an 8% match and I get 17% match, so if we go to me putting in 8% and her putting in 17%, we would still be at 25% total.

[@brandon8531]

Wow, you’re one of the few that have a higher match than I do! Kudos and nice! 👌 curious as to what you guys do to get that high of a match though?? 🤷‍♂️

[@spdog3344]

@@brandon8531 technically it’s 7% match and 10% profit sharing. Both In finance for two different large investment firms.

[@phyllisburtonhearsawho]

Recently, I've been pondering retirement. I've also invested $800K on S&P 500 so i could secure my financial future. i need an approach to invest in Stocks like Nvidia stocks and of course AI stocks that will align with my risk tolerance and financial goals but it seem to be bearish right now.

[@GhostFaceTraderz]

How much would you recommend for someone with a base salary of 120k with 7% employer match and a pension? I’m currently matching 7% while clearing up bad debt

[@carolinecollins2441]

Sounds like you're making the right moves, but check out the Money Guy Financial Order of Operations videos.

[@OOOO-cn7rc]

thanks i really need this, i have near 1m invest in stocks already and im afraid to pay for coffee

[@ZO6Buccaneer]

I think some of the people who talk about doing back door Roth IRAs after both people in a couple have maxed out their 401ks may be in this situation. Like, if you’re both putting in max into 401k (plus some employer match), you may want to put any addition investments into something more liquid that can be more easily accessed prior to age 60.

[@tyler9281]

I'm a little nervous as I started investing at age 29 (paid off my student loans). I'm investing 15% of my gross income ($779 per paychrck). Putting it in a Roth 401k. I'm a bit disappointed in the rate of return so far this year - 6.81%. Am I on the right track?

[@Christopher-i5j9o]

Are you in a target retirement mutual fund? They typically have lower returns than indexes. My self directed Roth IRA , just investing in s&p is at 17% year to date. Still good at 6.81% because the growth is all tax free 👍Also congrats on making around $140000.

[@NurseJake]

I would just invest in sp500 👍

[@DigiTiLMon]

Make sure you are in the right investments. 6.8% is good in less than half a year. S&P is higher than that this year, but you may have a safer (diversified across markets and sectors) balance long term. Discuss with an advisor. Starting at 29 with 15% you’ll be just fine! At 50 you’ll be shocked how much you have.

[@MeltingRubberZ28]

If you're 29 you should be 100% SP500. Don't even think about going to even 1% "safe assets" until you're 45. You will see tremendous growth. Plus if you just started investing now, 6% growth on 10k vs 13% is not much.

[@LukeofAllTrades0]

You are doing awesome. The returns look small now, make sure they are in "riskier" index funds as other people have mentioned, but by the time you are 40 you will probably have $500k if you just keep doing what you're doing. Try to up your contributions to max out your Roth 401k, that's the only way you could do any better.

[@ppw8716]

Listen up. ‘Saving and Living for the future’. It may not happen. Unfortunately it happened in my family. We were blindsided. I’m realizing it now and I’m trying to enjoy some of it, but being mindful.

[@FarangWithAChang]

#4 is my stepfather in law. $2m at 90 and refuses to allow wife to use any of the money. The reason is he doesn't want to die poor. Now he is deceased and has never lived his life.

[@Esther-uo7fs]

Bo is coming for Coast FI in this episode!

[@yomi_ash6324]

I can’t stand it when a friend doesn’t tip appropriately. 15% minimum but really it should be 20%. I then feel like I have to make up the difference and I’ll probably not be inclined to invite again.

[@brianaspinall1831]

People say this about me but I think they are wrong. I am just doing what must be done , time will prove my point... Again. I think I am just in the right spot. I may not have a mortgage, but 2 kids and I make 85k pre tax (CAD) ... Well you got to be careful.

[@Qiuziarui]

10:52 nice cybertruck. Invest in future growth companies if you have extra lying around is not a bad idea either lol

[@davidsnyder518]

23:38 I love the subtle Dave Ramsey diss

[@loganblevins8633]

I see no issue with receipts. We use YNAB so it’s critical to input receipts

[@unknown-user]

I believe that I hit my number already, but the thing that terrifies me about the future is inflation. I don’t want to wake up one day and the dollar is worthless.

[@barnabusdoyle4930]

I like that the picture for the Financial Miser is clearly a picture of Vader

[@namanmit111]

it's one thing to look like tarantino but to move your arms and throw your head around like tarantino is another

[@ChitChatBFF]

I dont understand why people spend big inheritances When the interest alone can provide an amazing life. Why would you chip away at a safetynet like that???

[@rayzerot]

Can we please all agree to stop calling Roth "tax free" accounts? They aren't. A traditional IRA or 401K combined with the standard deduction is genuinely tax free. HSA's can be tax free. Roth accounts are "taxes paid". Always.

[@J.FamGuy.M]

I get what you are saying about taxes paid on contributions. When talking about retirement, tax free is more accurate, because you are able to withdrawal everything without paying taxes. 😊 Gains can be majority of the account and taxes will never have been paid.

[@jaredfrazier2216]

Good try but you're wrong

[@linewalkr6500]

Lol ya'll tell me this now AFTER I spent my whole thirties with no vacations and no dating 😅

[@arh1234]

😢

[@DylanDocker]

If you’re destroying your quality of life. Else it’s fine

[@TheFirstRealChewy]

Define destroy? Some people might say not buying the latest phone or driving a luxury SUV that's older than 3 years is destroying their quality of life.😅

[@grega2362]

In the same vein, define quality of life? Going out to dinner? Well, learn to cook. Subscribe to bbq bible and rock the family's world

[@retnuh1262]

First question that came to mind: define quality of life

[@Paper3Goo]

I feel personally attacked. I needed this video😂

[@djsausagebiscuits]

What kind of fancy notepad does Brian have? Maybe I'll be able to afford one of those in retirement 😜. j/k... on the last part!

[@logicalmisery3737]

I don't have any friends because friends cost money. Not sure how to find like-minded frugal people to befriend, because hypocritically when I see someone doing what I do like shopping at the goodwill or buying the store brand stuff, I make that assumption they're struggling and doing it out of necessity. I make six figs but do these things, and can't imagine others being the same way.

[@CaraMarie13]

While i believe in saving, i truly hope i never get to the point where am putting off living in the name of saving more. That's just sad.

[@brownwhale5518]

It’s never enough because it’s never too much.

[@kckuc310]

Math vs risk is the question. Any arbitration comes with risk, I’ve yet to see a video when all goes bad and your extended. Debt is not helping you at all no matter what interest rate. Mortgage and a 60 percentage down turn and loose your job breaks the FOO.

[@Brian-lo9zu]

If I have 2-3 kids and they each have 2-3 kids then my one pot of money will get divided up fairly quick so they may not necessarily waste the money

[@thehomeless_trucker]

Statistically, they will spend every dime they get. And none of your kids may have kids. Millennials and younger aren't having kids just to have kids like older generations. So many are realizing that you don't need to have kids to be happy.

[@benbissell3710]

The designer of the royalty free miser needs a bonus

[@vecna2821]

Lol! I have a friend and his name is joey who is a tight wad and he does in fact order the chicken fingers 😭😭😭

[@jessefletcher9116]

that fourth one sounds like Walter White in Breaking Bad, he had a block of money on a pallet in a storage shed, no way he could have ever spent it all.

[@Eclipseballer1994]

Get ready - Bo is excited

[@Mactakun]

Every financial mutant has a dark side. The hulk to the Bruce banner, the Vader to the Anakin, the devil to the Lucifer.