6 Uncomfortable Retirement "Truths" You Need to Hear...

[@mimicotom]

I retired at 57 with a company pension. I kicked around for 9 months, then got a close to home, low-paying, no-stress job. Sold the house for mega bucks and moved to a smaller community. My advice is to retire when you can. I have seen too many people retire too late, then die 6-18 months later, never having to fully enjoy retirement. Take care of your health and get a hobby. I started taking piano lessons and love it. Good luck.

[@Kevin_Carlson]

Finally, someone emphasizing important things like health, time and people! Most of the retirement videos I see are all about money money money.

[@HighCountryRambler]

I planned and saved for retirement for many years and retired early with 2X my goals, then my wife had a stroke a couple months later. This wasn't in my retirement plan so it's true, good health is at the top of the list. Everything in the retirement activity bucket went out the window, and has become 'altered priorities'... Just my piece of advice.

[@lichin11]

I hope your wife is having a good recovery, very sorry you two are going through this.

[@RolandIbera]

!00%Agree. What good is money if your health is bad, you can't take it with you in the afterlife. When Steve Jobs died he was tied with the homeless person who died at the same time as him. No such thing as a long time horizon, it's all temporary we will all cross the rainbow bridge.

[@williewonka6694]

Retired at 59 and wish I'd gone at 50. I find taking care of my home and property deeply satisfying, after decades of no time outside of work. I'm just fine with mowing the grass and maintenance. I could easily afford to have someone else do the work. This enjoyable hobby leverages the portfolio with my labor.

[@davidwindham5804]

Plus good exercise to boot!

[@apeel2008]

It always boggles my mind as to how someone as young as you are can be soooo wise and insightful. Thanks!

[@Just_forfun9140]

He must have studied math or science or both.

[@SafeguardWealthManagement]

Thank you so much. This comment means a lot

[@remowilliams7569]

I am 5 years into an unplanned retirement and still 7 years away from social security. The two things that will get you through are 1) sufficient cash base to ride out a bear market and 2) live materially below your means.

[@HateDietPepsi]

Being a minimalist is helpful for relieving life stresses.

[@carpediem9718]

Also do some side hustles

[@danajohnson4480]

It's great isn't it?

[@gabriellarosa5015]

@@HateDietPepsi, there is no doubt about that.

[@RolandIbera]

100%Agree.

[@rapfreak7797]

I’m more than 20 years from retirement but these videos are still super useful in my long-term planning.

[@gabriellarosa5015]

Perhaps retirement will happen sooner than you expect. It happened to me.

[@juliekirkham8049]

I just took all my kids and grandkids to Kauai! Rented 2 condos and a 15 passenger van. Best trip ever! Wouldn’t trade it for a million bucks.

[@supersteve8305]

I'm 57, but available for adoption. But seriously, that was a wonderful thing you did.

[@pensacola321]

What did it cost, and did it concern you about your overall finances?

[@penelope5500]

Sounds like it would cost about a million bucks...😂

[@Just_forfun9140]

You could have fit comfortably one more person, me !

[@alansach8437]

Probably cost a million bucks! LOL!

[@rondematteo369]

have a small lawn and that is therapeutic for me not work. waxing and cleaning my cars are therapeutic to me , not work etc.

[@lindaanderson1016]

And good exercise!

[@markkeller9378]

Same with cars for me……I have 2 acres, and that is my therapy. Retiring in 2023. Hope you are doing well in yours.

[@gabriellarosa5015]

Waxing my car and keeping my house clean is very therapeutic for me. I don't miss working at all!!!

[@jimclark5037]

Watching a 24 year old NFL player drop of a heart attack on the field pushed me to stop putting off retirement. I'm 59, Time is the most valuable thing we have!

[@leighnapier4505]

Hopefully you didn’t take what he was forced to take …..

[@jimclark5037]

@@leighnapier4505 I had to take the Vax to keep my job

[@wells328]

Amen

[@skesno309]

I regret taking the thingy you cant talk about or say anything about.

[@kevin7151]

I retired at 57, but wished I did so at 50. My wife and I have been conservative in how we invest and spend money and found ourselves in a good situation that I could exit the workforce. Best decision I ever made. I have life in me that we can do things together and enjoy ourselves while helping her aging parents. Key thing for us is that we paid off our home and are not trying to keep up with neighbors. We are fortunate that we live in an upscale community in the north shore of Long Island, but we downplay our situation. We drive Toyota's that are a few years old and our modest in our discretionary spend. This has not limited us, as we have been able to pay for two sons to go to quality universities and travel to about 30 countries during our time together. We are not special and believe anyone can do this as long as they put a plan in place, stick with it and start early.

[@JB-lc2fn]

Great advice.I was terminated at 57 over the vaccine mandates and in the same boat as you.Cheers

[@kevin7151]

@@JB-lc2fnAlthough not what you and I planned for, I do hope that you are enjoying the fruits of your labors. Stay well my friend.

[@julieokel2005]

Love this one Eric! We need gently reminded what the ultimate goal of retirement, free time, and what matters most is really all about!! No one I know gets near the end of life and wishes they had more money, but the would happily choose more time with loved ones.

[@SafeguardWealthManagement]

Thank you Julie!

[@RolandIbera]

100%Agree. You can't take your money with you when you cross the rainbow bridge. Life is short and temporary.

[@SammifromMiami]

This is your best video, hands down. This kind of advice only hits home once a person experiences retirement. I was all about the numbers. I couldn’t wait to retire from a job that required me to get out of bed EXTREMELY early in the morning. With 7 weeks of vacation I figured 45 more weeks would be even better! Until after the novelty of sleeping in wore off and the challenge of scheduling my days and weeks with productive activities presented itself.

[@havenpersonalcare7968]

In 1997; my high school buddies laugh at me for joining the military. Fast forward to 2023 @ age 44; I am too laughing, and so thankful I made that decision, as it propelled me for early retirement. Retired with pension, low cost healthcare and rental properties. Also, just relocated overseas with my family to reduced cost of living by 50%; thank God. All the best everyone!

[@re8746]

The key to retirement is to be out of debt. No mortgage, auto loans and never carry credit card debt.

[@LoveLearningInDorset]

Hmm not sure. There's good debt and bad. I ll be retiring early on the former

[@StephenHolme]

If you’ve got a 2% mortgage i think you keep it. Otherwise, you are right.

[@re8746]

@@StephenHolme No. Being out of debt is the key.

[@anthonybutler3157]

I completely agree. It is so freeing.

[@DrSchor]

You do not know that the only way to become wealthy is to use other people's money. Sad. @@anthonybutler3157

[@michaelgreskamp1093]

Retired at 60 - now 70. Have a low cost advisor through Vanguard that has provided excellent direction. I am well versed on many aspects of retirement planning but having a sounding board you trust is worth it. Excellent video ........experiences and enough time to enjoy them is paramount for a happy and fulfilling retirement.

[@jeffreylyons5449]

Finally somebody came through and reframed things in a brilliant way.

[@mv-db4463]

EXTREMELY out of the ordinary truths / advice but it was SPOT on to fulfill my needs. Thanks for presenting them - it is invaluable for my current position in life and I am certain you have affected thousands more who watched your video. Thanks !

[@davidfolts5893]

" You can't handle the truth!" according to Jack Nicholson, but yes, you really can because that's the reality of the situation. Stick to the plan and stay the course. This, too, shall pass, and where a great financial advisor can be a big help. Thanks, Eric!

[@PH-md8xp]

Excellent point about the importance of people and time in life and money as a tool.

[@arymniak1]

Health is #1, but in America the majority of the people are fat, sick and nearly dead at 60, work harder on your health so you can enjoy the wealth you accumulate

[@johnmiech3544]

Great advice and thanks for eloquently providing a different perspective on retirement. As a newer retiree, it definitely hit home. Liked it so much, Subscribed right away.

[@pensacola321]

Well said. Probably your best ever. ...BTW, IMO nothing is more important than health...

[@halleylow3615]

how is it someone half my age is twice as knowledgeable. ;) thank you

[@laurasagan2606]

Good health and making memories is so important.

[@daveicc495]

Thank you both for being the encouraging AI that I need right now

[@Chilliconcarnage]

If healthcare was prioritized and the risk of bankruptcy was eliminated with a health safety net so many more people would feel comfortable retiring and enjoying life.

[@andreawales1938]

I’m new to your channel and enjoyed your well-put-together video. However, at 11:46, your graphic says, “piece of mind” when you actually mean “peace of mind” - Please correct.

[@brucewallace3860]

Would have rolled my eyes 10 years ago on No. 6 - - but four years into retirement (at age 58.5) I would not. Tax planning and negotiation IRA-Roth conversions is first benefit that comes to mind. Many others. We have a terrific financial-investment advisor and outstanding tax person. And a close set of friends who are comfortable sharing strategies. It seems to be working. Good video.

[@SammifromMiami]

@Bruce Wallace, me too. I’m 4 years into retirement at 57. People to see, places to go, and things to do are important.

[@larryjones9773]

'Advisors who charge a fee as a percentage of assets' - TERRIBLE IDEA! Inherent conflict of interest. Hire a 'fee only' advisor. Fiduciary responsibility! Even bigger ripoff: Actively managed stock mutual funds - 98% fail to beat their 'appropriate' benchmarks. Only invest in low cost index funds. The data is clear and overwhelming on the above two topics. And target-date funds make no sense. Keep your stocks & bonds in different funds. This way you can sell from your bond fund when stock prices drop (like now).

[@SafeguardWealthManagement]

We are certainly in alignment here. One footnote, however. Just an opinion, would love to hear your thoughts back. I disagree that charging a percentage of assets is inherently a terrible idea/conflict of interest. I think when you boil down any business to client relationship, there is a level of all relationships being a conflict of interest. A fee paid means you have less for retirement. Certainly if an advisor gave the advice without any fee needed that would be most optimal but then again the advisor needs to support themselves as well. Every fee is relative. To an extreme, a 0.05% AUM fee is going to be a cheaper arrangement than a $1,000 per hour fee for most. You could say the conflict of interest in a hourly arrangement is to complicate a plan so much that it generates more questions, more analysis, and therefore more billable hours. In addition, what is the advisor's incentive to have a hard conversation and inch a cash-heavy client from cash to stocks or a higher yielding investment? The hourly advisor makes the same both ways. All I'm trying to get it is that every fee model can be done correctly and incorrectly. All fee models can be extremely fair as well as highly conflicted. What's most important is trusting that the advisor/company is trustworthy, competent, has your best interests in mind (fiduciary), and you think the value delivered is greater than the fee paid. Just my $0.02.

[@johnkelley1426]

Exceptional summary, thanks!

[@maryg.7790]

Wow! Love the philosophical advice included! Thank you!

[@stevenbass732]

Just remember, it only takes a couple "oh crap" moments to ruin your retirement plan.

[@vincentf.2317]

I Always enjoy and learn from your videos. Thanks!

[@JulianMael-us2bx]

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 parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.

[@michaelmclaughlin1958]

I think planning for 95% success is good. Checking it at least annually and redoing the plan if success drops lower than 90%. An advisor can be key to maintaining this discipline. Right now I’m way too conservative but live comfortably so I only have folks I talk things over with not a formal advisor.

[@malcolmbriggs4281]

I'm 72 retired one thing I would say is you don't want to be in debt.

[@ryangreen9770]

Stumbled on this post and was a very interesting & informative video. # 6 is very interesting. Worry about high fee’s though.

[@anthonydelagarde3990]

Appreciate your video and information. kudos!! Thank you for putting this together I got a lot of value from this.

[@darrellmirro7732]

The only uncomfortable truth is Having No $$$$$! Simple.

[@jodtark]

Great content. Please provide more like this!!

[@jimp9884]

I retired in 2008 and put 80% of my retirement pay out in the market. I love bear markets.

[@livinthedream894]

Thank you for the information. The only request I would have is if you could upload a higher resolution video. When you put up charts and graphs with numbers they end up a little hard to read at times. Thanks!

[@sharontabor7718]

My mother was an introvert. Her only outlet and to make friends was working. She retired at 62 due to pressure from my father, who died 9 months later. She was miserable so returned to work until the age of 83 when her health prevented her from working. The last 5 years of her life was miserable for the rest of us. Not everyone enjoys free time. She and my father lived off his income and banked her salary for 30 + years.

[@thomaswiegmann4184]

Me to retirement is to find the balance between. …… all or most of the things that are important to you. Insight. Insight.

[@dirtfarmer7070]

Love the wall behind you! Very unique!

[@robesq]

Exactly what I needed to hear, thank you.

[@johnurban7333]

Working longer than needed sure helps pay the huge rise in gas, groceries, and products

[@gieb6428]

Yes, we worry less

[@barbiec4312]

Thank you. This helps to watch with my hubby.

[@gatsby6815]

Having a stressful career, I didn’t want to swap work stress with financial stress in retirement. So, all of my living expenses are paid for with income derived from SS, pension and joint life annuity. My cash is my own now to invest and spend as I wish. Financial advisors need to listen more to their clients and talk less.

[@merrybrown6407]

This was great thanks 🙏

[@judeking2174]

Brilliant! Thank you!

[@greggibbs3639]

I have a Fidelity 'advisor.' I've had many different reps. Useless.

[@SafeguardWealthManagement]

Not the first time we've heard this unfortunately. Depending on what you are looking for, I think it is difficult to find a comprehensive advisor at these bigger firms. Every firm runs into a scaling issue. To train an advisor to be comprehensively competent it can't be done extremely fast. Based on the size of Fidelity, they don't have the ability to put advisors through the training they need. You'll also notice many of them won't do much in the way of tax planning for this reason and other liability reasons. Just my $0.02, the best advisors I know aren't advisors at these bigger firms but rather typically at smaller 'boutique' firms. We are in the process of putting together a list of solid advisors around the country to help retirees with their search. Hopefully we will be able to share at some point here in the future.

[@bob.weaver72]

I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways

[@kenanporubsky2122]

Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.

[@martingiavarini]

There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.

[@hermanramos7092]

Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.

[@kenanporubsky2122]

@@hermanramos7092 Impressive can you share more info?

[@hermanramos7092]

@@kenanporubsky2122 My advisor is ‘’Christine Jane Mclean’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market

[@isaax713]

bro i’m 19 and fr stressin bout my retirement and my whole life

[@tommccutchan3508]

$10K invested in the stock market in 1950 is worth is worth $2.3 million. I hear these type of figures all the time. I left one of my old jobs with about $12k in 1998. It has always been in a diversified set of mutual funds and for the last 15 years or so has been in a target retirement fund. It is now worth about $33k. I know that is only 25 years vs 72 years, but I would say my money is not on the same track.

[@josevalverde2263]

Retirement is the time to know yourself

[@peter-hr1gl]

Most uncomfortable of all. You needed to save MORE for decades in order to live well in retirement AND you needed to learn more about how to do that and DELAY some elements of satisfaction until later and not have the mindset of 'do it now' in all things. Living in the moment does not mean doing that ONLY and forgetting about the future. Your future self will thank you.

[@TheDutchman58]

I’m afraid I will discover that instead of earning $ during my work I will be spending $ for my hobbies. Most of the things I hope to do will take capital…whether it’s fishing, traveling, golfing, art painting, home renovation etc.

[@alanrobertson9790]

You miss the point about lawn mowing. Its the only excercise many people get. Paying someone else to do it, to save time, is the last thing people should do.

[@Kleban64]

Great information! Working with Seniors for years I would always find the same things. They would have a "Financial advisor" who would have them in 100% equity. This would consist of mutual funds and BB bonds. I have earned many new Clients by pulling out one of Ed Slott's books, opening it up and letting them read what Double B Bonds are and what the fees are inside the mutual funds. They would always say, "But I thought Bonds are safe?" Because of this I agree fully that you need a Retirement Advisor.

[@trackguy4038]

If I lived in Wisconsin, I would hire you. I went with Vanguard Personal Advisory Services.

[@kevinfessler6831]

Retirement is a funny thing because some people genuinely love, and find satisfaction, in their work and only want to retire when they are no longer fully capable of performing to their expectations. Others are counting the days. I guess I fall somewhere in between. Yes, the market has been unsettling to us 50+ year olds but my sincerest hope is that few people plan their retirement based on the SS payout schedule but unfortunately, I think many do.

[@lesleyheller2271]

I think he should have cautioned people away from financial planners who sell insurance products and/or high load trades, and toward fiduciary planners.

[@Just_forfun9140]

You didn't say how you charge and your fee structure, if you did I missed it.

[@robertpellechio6642]

Great video

[@bernie9728]

Don't think about money. Problem solved. Don't follow the market, don't care. Been retired 7 years. I get to eat everyday. I get to spend everyday with my best friend of almost 50 years. I can do anything I want, any time I want. Am I a millionaire? No, but I don't want to be either so it works for me. I want for nothing and in my world it doesn't get better than that.

[@splitliving]

There’s a term out there: Side hustle. I hate it! I’ve been retired for over 5 years now and have no desire to return to the drudgery of the work world, nor the accompanying compromises I’d have to make. I don’t owe anyone, or anything more, and I’m confident I’ll make it through THIS economic downturn just fine. Saw an ad the other day about how one can make thousands of dollars annually as a “lif coach”. Whatever that is. I could BE one, don’t need one. But it sure would be fine to have somebody to collaborate with about the one area of my life I feel insecure about-not panicked, just insecure.

[@alexandraadams2070]

Gavin, I so agree with you about the term side hustle, ugh!!! I just can't stand it, lol! I retired the end of 2019 after working 46 years and I am DONE!!! Doing better financially now than I ever did while working and I thank God every day. I absolutely LOVE being retired. As long as I stay healthy, I'll be fine. Wishing you the best!

[@Pje3ski]

Excellent video sir!

[@SafeguardWealthManagement]

Thank you!

[@nothingtodo58]

I doubt I can afford a CFP or someone similar.

[@sooner_born2256]

Good content!

[@tominftlthomasp3559]

We don’t know how much time we have. Travel while your healthy. Try to downsize your home and possessions. Money isn’t everything but is necessary for a quality life.

[@MrWaterbugdesign]

"Working longer...won't help." I agree. I retired 20 years ago at 45. At the time I didn't know I had retired. I had $100k cash and $400k home equity and a $2200/mo mortgage. I was just taking a few months off work between jobs to work on a software project I wanted to do. Couple of surprises happened... #1 I found I really enjoyed the freedom. I loved my career designing and creating consumer software products at startups. I had a lot of freedom in my career, but wow, being able to anything everyday was cool. #2 Wow my spending dropped. I could see without the mortgage I could live happy on very little. When working a lot of hours I spent a lot on eating out and entertainment and toys. Retired allowed time to cook at home, entertain myself (playing basketball, gardening and writing software). And I didn't need the toys. I fixed up and sold the San Jose house and paid cash for a Phoenix house. That's when the cap gain income tax exclusion really got my attention. I flipped 2 more house and am working on #4 which should net me either $2000/mo in rent plus appreciation or $550k if I sell. For 20 years I've invested $0 since I suck at investing and I don't like it. So generally I carry $20k to $60k cash. For the past 15 years my total spend has been $600/mo. Crazy. That's everything. Because my income is basically $0 I don't have to file income tax, I got Medicaid and now Medicare for free ($0 copay, $0 deductible), free smartphone (LifeLine) and free in home internet (ACP). Because I don't invest I have zero stress if the stock market does...well, anything. That's priceless. I could take social security today at $2518 but I have no need, so I'll wait. You don't always need a huge pile of cash to retire. What is hard to explain to people is the idea of being happy spending less. Or turning hobbies into cash is an entirely difference equation when you only spend $600/mo. Earning $400 in a month on some hobby is a huge amount of money. When I was working I'd spend $400 in a couple of days just on junk. Now I'm getting my central Phoenix house ready to rent or sell and move to SE Asia. A new adventure. And I can afford plenty of live-in help if I ever need that (Registered Nurses in PH earn $350-500/mo) whereas in the US long term care is a serious cost or a crappy place. I even have the option of getting a young attractive wife there and having kids (never had kids in the US). Might be nice growing old surrounded by my kids. I'll have the time to spend with them, have a lot to teach them, they'll be dual citizenship, at least 2 languages and I'll have the resources to ensure seeing them through college so no stress. Much better medical care in Malaysia, Thailand, Singapore and very inexpensive.

[@gieb6428]

T G T B T

[@jodylarson4697]

@@gieb6428 I agree. Something's fishy. Plus pure fantasy.

[@johnurban7333]

I spend less when I’m working and spend more when I’m not working. I guess because when I’m working I’m making money doing my job

[@greghover7556]

Last I knew rental income was taxable and so are proceeds from flipping a house that isn't your primary residence.

[@kenc2257]

@@greghover7556Only the "profit" from rentals is taxable [so, hypothetically, if the "loss" from your rental properties somehow equals--or is greater than--your "income" from these same properties...well, zero tax liability, right? I think that several of the Former President's various companies ended up in this enviable/remarkable tax situation.]

[@nco_gets_it]

weird how not one of these advisors ever talk about pension retirees...

[@emiller7040]

What % of the population receives a pension? The company I worked for rolled our pension to a 401k back in the early 90s.

[@brenttaylor8907]

What's a pension? I know. Just never had one

[@kirstymackenzie2437]

Bear markets!! 😮. What!! Do they have bear markets in US? We stopped having these in the Middle Ages in UK! 😅

[@cobrafinancialsolutions1039]

Great video!

[@guzzi95]

Lots of videos out there with good advice if you have 20 years to invest.. We need some advice for those that don't. I am retired and have just recently pulled my money out of the stock market. I have a couple of Fixed index annuities and have started a CD ladder.. I am tired of the yo yo effects of the stock market.. I remember the 2008 crash when it took two years to get back what I lost. I didn't loose the money I had, but I sure lost the growth potential.

[@MrJerOrt72]

I was listening until the retirees mowing their lawn could just be paid for time, perhaps considering the exercise and sunshine they are getting (health... earlier point) would make more sense. So sorry, I need retirement consideration videos from retirees.

[@Zues64]

Most retirees will receive Social Security till they die. It becomes their income floor. so, for most retirees there is a 0% chance running out of money. This is all about the nest egg running out of money.

[@BeechF33A]

I retire in one year. How should one go about recruiting a retirement advisor? I’m not a fan of the AUM payment model. Four years ago, I paid for a fee-for-service advisor to review my investments and other financial assets to be sure I was on track for a well-funded retirement. He suggested a few changes, which I made. But in retirement, as I begin taking distributions and have to be mindful of tax implications and other issues, I think it’s considerably more complex than the accumulation phase.

[@harmgregory4560]

Good commentary, I'd say. 🙂

[@timemanagementisinvesting]

Unless someone is absolutely clueless, a financial advisor is the last thing I’d recommend! 🤔 And when used, I’d only recommend direct pay for consultation - never an Assets Under Management agreement.

[@SafeguardWealthManagement]

Why would a financial advisor be the last thing you'd recommend? Odd stance. The % of people who have an advisor/planner increases when mapped against net worth. Meaning the more wealth one has, the more likely they are at have a wealth manager/advisor.

[@timemanagementisinvesting]

@@SafeguardWealthManagement fair enough. I’ve never been a follower of Robert Kiyosaki, but in the spirit of Rich Dad Poor Dad I’ll note: 1) my dad was poor dad (although he passed with approx 5 Mill) and 2) my old business partner was rich dad. When I left the business, my business partner’s net worth was $26 Mill and he didn’t have a college education. My dad was about to begin his PHD in mathematics, when he was recruited by Amaco Production Company who he ended up working with for his entire career. Yes, they both pay professionals and have advisors. Once I looked under the hood; however, and saw the particulars of my dad’s accounts, I found them rather impotent to what is actually available in the markets. I guess what it boils down to is I don’t see wisdom in AUM arrangements, as my dad had with his broker. I’ve ran numbers upwards and sideways, the fact is he’d have been better off just buying SPY the entire way through. With that said, I prefer a mix of public and private equity. Regarding public equity, I would never recommend a AUM arrangement, unless the individual being invested with is TRULY unique. In most cases, I recommend broad based ETF’s and/or paying an hourly rate to have an advisor challenge your individual stock picks, which are hopefully chosen with great personal due diligence and intended to be held for the long haul.

[@tj7870]

doom and gloom always sells!

[@anthonywilson4123]

Correlation is the Bear market in relation to the bull market. You need to show the same foe the the bull market how many and how long it makes a difference as to how long money last ! to just show the bear market only is not realistic

[@kwqd54]

I struggle with some of this a bit. I am not married, no children and all my close family is deceased. It is just me so I have planned accordingly. Luckily, I am solitary by nature so none of this bothers me. To remedy that, I worked to age 63 (now 68), saved about twice as much money as I would need if I lived to be 100 years old in a work sponsored 401K, maxed my pension which was fully funded at 62 and am waiting until 70 to collect social security and 73 to start taking the RMD from my 401K. I own two houses which are paid for, have no debt and exercise seven days a week and am a vegetarian. I have a modest life style. I am using my pension and savings as a bridge to collecting social security (next year!). Also have a little bit of money in higher risk equities in a Roth and a mutual fund, not enough to fund retirement, just some equity balance to my portfolio that I do not expect to need for many years. My 401k is in a Vanguard target date fund (2020) and I engaged with Vanguard about managing my retirement funds but they wanted me to roll over my 401K to meet their minimum balance to manage my funds. Vanguard does not have direct control over my 401K, it resides with a management company engaged by my ex-employer. I do not want to lose the ERISA protections afforded by my work sponsored 401k, however, which annoys Vanguard. I do have a million dollar umbrella policy, but that is more to have the insurance company's lawyers on my side as opposed to expecting a million dollars to cover frivolous law suits. I know people who have been wiped out due to such suits. Have started drawing down my savings account due to inflation and having two houses, but it should be more than enough. Once I start collecting social security, I will have income far above what I need for living on and when I start taking my RMD I will be wallowing in money I will not need for many years. So, at age 70 I will start diverting most of my social security into an account for management by Vanguard and add my RMD to that eventually, as well. When there is enough money in that account to satisfy Vanguard, then I will let them take over, but not relaxing until then! I lived pay check to pay check until I was in my 40s and was able to start saving for retirement and have never forgotten that feeling so I will let someone else drive once I feel everything is on autopilot. Am I missing a few things that an advisor might know in the mean time? Probably.

[@robstreicher5561]

Great job! Enjoy!

[@teekay_1]

A good way to think of this is "if your retirement depends on your 401K growing consistently at 4% annually (or more), that's not a plan, that's a dream" As to one of your "what if's", while it's unlikely SS will be eliminated, I see a high likelihood that congress will be try to means-test benefits, punishing the people who have put the most into the system, as well as punishing the people who were most responsible during their working years.

[@josephmasterson3992]

Peace of mind, not piece.

[@SafeguardWealthManagement]

*faceplam - I need a piece of mind next time to use the right peace/piece...

[@bikeny]

@@SafeguardWealthManagement Well, if we're going with typo corrections, then there is this one too: In the What If section, "what if the US defaults on it's debts" - it should be its without the apostrophe. Anyway, good stuff. Thanks.

[@tkelly5422]

I guess these videos are a one-shot take and no editing. Doesnt take away from the material of course as this happens in live settings all the time, but refreshing to see someone roll with it.

[@RajReviewsDualSportPhotoGadget]

👍

[@davidfolts5893]

An additional comment: When A.I. gains the ability to predict the future of the stock and bond markets, humans will have other things to worry about rather than their portfolios!😮

[@magikmycology6660]

Oh poor Warren Buffet 🙄🤣

[@rdbeaz]

Heres a truth Social Security pays NEGATIVE rate of return....I would love to control my own $$$ and not the loser Democrats or crappy Republicans

[@davidwild3888]

What Bear market? Never happened!

[@bonniegaither3994]

1950-2022. I’m thinking very few people have been investing in the stock market from 1950-2022, that’s 72 years.

[@SafeguardWealthManagement]

I'm sure no one starts with $10,000 and never puts another dollar in over 72 years as well. Graph was to show the incredible growth that financial markets have had if you zoom out of a short time frames.

[@CentralPlainsEnt]

I think the information is a little bit too broad. I will agree that a good financial adviser could be beneficial to quite a few people. From what I can see in retirement you had better have savings in the millions of dollars. Either that or you better live very frugally. Property tax, Insurance for property, vehicles and health will eat up a lot of your money. I don't know how much you can count on a pension to be there. Same goes with social security. I don't think either of those would go completely away but they could be diminished as the years go on. As far as working longer you could pick would you rather work longer in your early sixties or your early seventies?? I would work a few years longer at an earlier age than be forced back to work in my seventies. I think above all a financial adviser needs to be brutally honest with people when they start talking about retirement and they simply do not have the savings to pull that off. I don't think retirement is gonna be an option for a lot of people if you read the reports of the number of people that have inadequate or no savings for retirement. You would be amazed at how many people do not know how social security is figured. The amount of people that have told me it's off your high 3 years or your High 5 years would be alarming to say the least.

[@JeffMathias]

Retirement feels like a reverse lottery. Few have pensions, but pensions are badly underfunded and will keep failing. 401ks have proven a feeble substitute. Social Security is underfunded and Republicans are openly advocating cutting or eliminating it. So you save and invest in equities. You have a big portfolio! Congratulations, now you are subject to the vagaries of bear markets which are largely manipulated for the benefit of the rich. How comfortable are retirees going to be drawing from their equities during down markets? So even relatively affluent retirees may spend a big chunk of their retirement limiting spending to income and only scheduling travel and other extra pleasures when markets are high.

[@nathanwilliams5290]

Are republicans talking about social security? I wish. 15 years ago they talked about privatizing it . Many countries have and when they did ,retirement income soared. Social security has a negative rate of return. But keep being scared by democrat talking points.

[@kenc2257]

@@nathanwilliams5290 House GOP leaders have definitely talked about raising the retirement age for Social Security, as well as the eligibility age for Medicare. [this has been WIDELY reported--so, it appears you got your wish...]

[@periklisspanos7185]

I am not comfortable loosing money buffet don’t show he’s money he’s talk for it I can do the same

[@warriormanmaxx8991]

@periklisspanos7185 - 1. Do you talk as above in daily life, too? 2. What on earth you are trying to say ????? !! 3. Warren Buffett is spelled with 2 T's.

[@lawsonj39]

Just what we need: a wise guy talking down to us as if we were born yesterday. "Understand that life has always had its uncertainties." Wow, I never thought of that....

[@PauMaz]

Self serving.

[@Terry-io8ji]

Matthew 16:26….

[@wilsonjudson1650]

The stock market has been a really tough one this past year, but I watched an interview on CNBC where the anchor kept mentioning " karina mattis ". This prompted me to get in touch with her, and from may 2022 till now we have been working together, and I can now boast of $540,000 in my trading portfolio.

[@jessicamamikina7648]

That's massive. Can you please connect me with your personal broker, I would love to work with her

[@wilsonjudson1650]

Like I said previously, her name is karina mattis , and you can reach her via her website.

[@wilsonjudson1650]

Just run a search on her name, and you would see all you need.

[@jessicamamikina7648]

Thanks for the info . Found her website and it really impressive

[@emiller7040]

Just another UBS advisor, no thanks. I'll stick with my team at Merrill.