8 Ways to Increase Your Retirement Income WITHOUT Work or Saving More

[@RichardSmith-t2l]

I’m worried about retirement planning and I want to ensure a comfortable future. I’ve worked hard my entire life and I want to enjoy the fruits of my labor without financial stress. I’m really concerned about whether I’ve saved enough and invested wisely.

[@RichardSmith-t2l]

Yes I have. But I don’t know who exactly to trust to provide the right advices and guidance for me.

[@LilianScott-dy5nz]

True. I have been in contact with a CFA that specializes in retirement planning. His expertise can help optimize your savings and investments.

[@RichardSmith-t2l]

Who’s this CFA? And how can I reach out to him?

[@LilianScott-dy5nz]

JOSEPH NICK CAHILL

[@LilianScott-dy5nz]

He’s a CFA with strong track record and you can research more about him online and also get to leave him a mail to reach out to him.

[@DonaldStokes-p]

I like investing in close-end funds that pay monthly dividends. The trick is to hold long term and reinvest the monthly dividends plus buy more shares on a monthly basis or whenever you can afford to. This can be easily done because close-end funds are bought and sold on the stock market just like regular stock. That’d be enough to create a portfolio that would pay you between $50k to $70k in dividend income

[@SeanTalkoff]

Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional

[@PASCALDAB]

Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.

[@viviancarolgioao]

Please can you leave the info of your invstment analyst here? I need such luck

[@PASCALDAB]

My CFA ’’ Sharon Ann Meny, a renowned figure in her line of work. 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..

[@viviancarolgioao]

Thanks, i did a quick web search and i found Sharon, i hope she responds to my mail.

[@Aaronduckstein49]

I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.

[@maiadazz]

That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!

[@ChadRoberts-x6i]

Mind if I ask you to recommend this particular coach you using their service?

[@maiadazz]

Annette Marie Holt is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look-her up.

[@oliviaHill-w4e]

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.

[@Danielle-vg9qq]

No worries, we all start somewhere! First, grab a comfy chair and some popcorn , and dive into some beginner-friendly finance videos. Start with basics like "investing for dummies" and "how to trade stocks 101." When you're ready for more, also consider financial advisor like Margaret Ellen Whitlock-I came across her in a CNBC interview, she's like the Yoda of finance! May the gains be with you!

[@rightwingprofessor1356]

Geoff's 8 Recommendations: 1. Wait to take you Social Security 2. Use a tool, not a rule... for taking your available assets. 3. Get free money from your employer...with matching funds for your 401k. 4. Hire a Tax Planner...not a tax preparer just to do your taxes. 5. Spending like a Pro...not like a budgeter. Remove emotions...maximize your spending. 6. Wait one extra year to retire...you will have fewer years to refund in retirement. Guaranteed increase of 5%. 7. Downsize your home....or sell your home and rent. 8. Reverse mortgage. Understand the benefits of a reverse mortgage. Great Video, as usual.

[@eddiebrugal8660]

Thanks

[@vernshird711]

Geoff needs a number 9 - Make absolutely sure that you are debt-free when you retire.

[@peterbedford2610]

Thanks.

[@bamahama707]

What if you are forced in retire, before you reach full retirement age?

[@johnurban7333]

@@vernshird711exactly right

[@matturner8]

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

[@frankbarnes22]

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.

[@Johnlarry12]

More reason I enjoy my day to day market decisions is that i'm being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to

[@emiliabucks33]

talking about coaching, do u consider anyone worthy for recommendations? I have about 80k to taste the waters now that large cap stocks are at a discount... thanks

[@Johnlarry12]

I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Carol Vivian Constable turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.

[@emiliabucks33]

I just checked her out on google and I have sent her an email. I hope she gets back to me soon.

[@discoverglobeliving]

Reminds me of my grandpa saying, 'I’m not lazy, just creatively efficient!' 😄 Great tips!

[@jamesthompson6086]

Thanks Mr. S. I have been retired since the first day of 2007. I am a retired professor and have enjoyed all your videos. Thanks again and keep up the great work.

[@lawrence809]

Fat pension, can't beat it.

[@tomf9292]

Great content Geoff..we are selling our main house and moving to our vacation home, which is 1/2 the size and expenses. No more big taxes, maintenance, etc. We planned this 20 yrs ago and can’t believe it’s happening…time flys folks

[@debeilts9326]

We did this and are loving it - hope you have just as fabulous results.

[@JP0702]

You make a lot of sense. Always want to hear your advice. I took retirement at 62, and thank goodness I did. My husband left me for someone else, (after 35+ years, so I am pretty much old) and, really, I lost 3/4 of my income. I needed it and still do. Of course, there's more, but it's too much! Appreciate you!

[@martyi398]

We downsized our home 10 years ago in preparation for retirement we didn’t need the extra space once the kids were gone, it has enabled us to save time and money, I would never sign up for a reverse mortgage, you might as well just sell the house at least you know how much money you’re dealing with and not paying the exorbitant fees!

[@roseother8306]

Sure, a reverse mortgage sounds sketchy until you consider selling and renting moving forward - have you seen what currents rents are??? Finding a rental you like, a landlord who is agreeable, who won't increase your rent and have you searching again next year. One who won't make you pay for maintenance on HIS property, good neighbors. But examine carefully. Good luck.

[@martyi398]

@@roseother8306 when we downsized our home it was purchased and is not a rental, I would never consider renting a place I like owning my own home!

[@herb7877]

I had employee's who would not participate in our 401k program even with a 3% match. Even with my encouragement + a financial advisor giving the presentation every year. Foolish not to at least put 3% in and get 100% return. It's a marathon; not a sprint. Statistically you're better off in 20 years. And some wonder why they can't afford to retire!

[@IrwinFranke]

Making good money before you retire is super important. It can boost your social security benefits and give you a stronger retirement portfolio. Basically, the more you earn now, the better off you'll be later.

[@harryl7946]

4:03 I keep hearing “investing in your 401k” and not ‘saving’. That’s mainly due to a 401k is ‘invested’ in the stock market via mutual funds. It’s THAT that builds better and faster than just saving. A huge difference! I like the words you chose here so keep preaching brother!🎉

[@richdouglas2311]

My strategy: I enlisted in the military when I turned 18. I retired as a run-of-the-mill captain, but I've collected retirement pay since I was 36. I repeated it later on with the federal government, serving 13 years as a GS-15, and getting another retirement pension from it. These two pensions pay me about $55K per year, and they both come with health benefits. Plus, my high income for most of my working life boosts my Social Security near the maximum. Because I'm still killing it in private practice, I've deferred taking this (and will likely do so until age 70). These factors, plus a million in retirement investments, means I'm doing ok.

[@ButcherBird-FW190D]

You retired from the military at age 36 ? It takes a minimum of 20 years to retire; so you would have had to join at age 16. You indicated age 18; so you would have been enlisted. Yet, you retired as an O-3 ? Something is just not making sense here. As an aside, I retired as a CU-15 (same as GS, basically) at age 56, with 32 years of service. My retirement gig is CFO at a large credit union.

[@richdouglas2311]

@@ButcherBird-FW190D No, it does not take 20 years. Yes, I enlisted as an E-1 at 18 and retired as an O-3 at 36. I'm sorry this does not comport with your limited knowledge, but it is a fact. It doesn't have to make sense to you. Another fact: I entered government service as a GS-15, Step 10. I hope that's okay with you. A "retirement gig" in a job is not a retirement gig. It's a job. You sound happy with it, and that's great.

[@mike-uw6wt]

If you don’t mind me asking, what was your GS-15 type of job? Not asking for personal information just in general.

[@ButcherBird-FW190D]

@@mike-uw6wt If your question is directed to me, I was a pension specialist with the Credit Union equivalent of the FDIC.

[@richdouglas2311]

@@mike-uw6wt I was a talent developer. I came in as a GS-15, Step 10 and stayed there.

[@wordysmithsonism8767]

Not "less" - "fewer" - I do learn from and enjoy your lessons.

[@FedrickWhite-jo2ed]

With inflation eating into everything, it feels like saving more isn't even enough anymore

[@ArianaFelicia-cw7oq]

I’ve thought about it, but honestly, I don’t know enough about those areas. Plus, I’m worried about making mistakes like I did years ago with a bad investment

[@donmason3382]

I can’t say enough about downsizing. Did that and moved to another state. Was able to be mortgage free in a better house. And love living in a smaller safer city.

[@bonniegaither3994]

My dad was an assisted-living for close to five years. Luckily he had long-term care available and he spent it all the way down and it was like $1 million I don’t have long-term care so that’s what terrifies me is if I end up in assisted-living, I’ll have no way to pay for it. That’s why I’m not spending my money.

[@wildfoodietours]

Love these options to optimize income relatively effortlessly.

[@richardc488]

First! Thanks Mr Schmidt. I took it at 62 to lock in my SS payment, who knows what will happen in the future.

[@whysoserious8666]

That’s exactly why I have to wait. In short to increase the survivor benefit for my spouse. I might get hit by a bus tomorrow.

[@ItsEverythingElse]

There are plenty of good reasons to start at 62 but doing so out of fear isn't one of them.

[@DrSchor]

you know exactly what will happen in the future. you will receive the lowest check possible forever. try not to think about it

[@DrSchor]

@@whysoserious8666 the odds of getting hit by a bus are less than 1 in 500,000. and even then , you might not die. rethink this

[@whatsup3270]

@@DrSchor And yet his chances of collecting more (total) is near 50%.

[@Sweetpea12591]

Great video with useful information. Particularly like your description of spending your money.

[@RedRum67]

I had an HSA account several years ago and maxed it out every year. Wife and I were healthy for those years around 5-6 years. Since I didn't use it, HSA carried over to the next year and when I left the company to go to another company I got to take it with me. What most people didn't know, and I learned early on, I could put the money into an investment account that the HSA company provided. Well...that amount now is like $30k+ and still growing. And that's not me adding any more into it for a few years now.

[@keekeefries6298]

One of the most informative videos I’ve seen on this channel yet! Thank You!

[@ronaldcambridge3126]

Very please to hear your objective views regarding a Reverse Mortgage. Unlike D. Ramsey, you expressed a perspective without excessive bias (in spite of admitting that you're not a fan of this financial product). There are folks who do not have heirs and could greatly benefit or enjoy the proceeds from a substantial asset involving equity in their home while they are living as opposed to leaving the fruit(s) of their labor for some one else. As you stated, it's all about being well informed.

[@PassivePortfolios]

Tom Selleck offers good advice on reverse mortgages, LOL !

[@ronaldcambridge3126]

@@PassivePortfolios Making uncalled for comments about Tom Selleck doesn't address being informed. Perhaps you should keep your "LOL" remarks to yourself. As the saying goes: if you can't say something beneficial, don't say anything.

[@PassivePortfolios]

@@ronaldcambridge3126 you must be the life of the parties you attend and fun to sit next to on long flights.

[@mike-uw6wt]

Do the opposite of Ramsey, lol.

[@spankynater4242]

No they're not.Too many risks hidden in the fine print in reverse mortgages. You could easily lose your house as a result. It's best to stay away from them completely, no matter how soft-spoken you are.

[@deborahcaldwell9775]

The benefits of reverse mortgages as you have kindly pointed out here are dependent upon upon how long you are going to live into the future. It’s astonishing how long we’re all living when we didn’t think we would or should. We just don’t know how long… it can be forever and ever and ever.

[@thomasbissette1572]

Great reports today, thank you. They just built an entire neighborhood across the street from us and the entire neighborhood is rental homes.

[@annhysell6064]

As always, great information. This definitely will be a difficult year. Appreciate the "spending is a business proposition" Thank you.

[@Raniyanhunter]

I have an Investment portfolio that's worth $550k, I don't think that'll be enough for retirement. I need an average risk investment strategy in stocks that'll give me more yield. Is buying stocks now a goods idea?

[@garnold-l5p]

As they say, time IN the market is better than trying to time the market. I think you should seek advice from a licensed financial advisor. They’ll give you guide on high risk and low risk investment strategies for your portfolio

[@Mlanderos-t9e]

Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.

[@Anessa-gibson]

Can I try this? I need one to review my portfolio but anyone who is fee-based is hard to find and usually have a heavy workload. Would you be comfortable sharing a recommendation if it's not too much problem

[@Mlanderos-t9e]

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

[@Anessa-gibson]

I just looked up her website on google and I would say she really has an impressive background in investing. I have sent her an email hope she gets back to me soon. Thanks

[@uf1978]

I'm 59 and will definitely take at 62! You can save more money but what good is it if your health goes south? Get out as quick as you can!

[@e-spy]

my house is paid off. Covid cut my career short. I can no longer take care of said house, though I love it. But even a small condo now costs more than my house is worth??? This will only get worse for people as time goes on unless we do something about it.

[@paparex5872]

Id be happy to review the benefits of a reverse mortgage with you- although only licensed in 7 western states. Even if I'm not licensed in your state, I can still give you some good info! Been doing reverses for 35 yrs. In the process of doing one on my own home!

[@ktburger659]

I like the wording of of spending like a pro instead of a kid in a candy shop. I’ve been working on this but it’s good to have a succinct conceptualization like that. I’ll remember it when I’m out shopping - what is the real value of each item?

[@loribreitenbruck2599]

Always interesting content and something of importance to take away from watching your videos!! Thank you!! 💗

[@maha77]

Brilliant suggestions, thanks so much, love your channel!

[@bethiciaprasek1008]

Thanks for your input! For a while a company I worked at would match a portion of up to 15% of 401K depending on how well the company did that year. I think the few years this match existed, it averaged 25% of what I put in. Guess who borrowed from 401K to allow enough money to invest the 15%. Even though I had to pay government fees/taxes to pull it out, it allowed me to put 25% down on a house. That being said, I spend like a kid in a candy store currently. At least at my favorite Pizza/Pasta place. It is my Cheers (where everybody knows your name), and it is my place to study when I am in study mode. Walking distance from my home though I often drive due to weather or time constraints. Do not plan to retire until 72, then move to consulting, but we don't always have control of the future.

[@NormanSmith-m8f]

Just taking the required RMD is a safe way of never running out of money for at least 99.9% of retired people. (The tables go to 120 years) The percentage you withdraw is adjusted up each year and in good and bad years it is self adjusted.

[@Lolatyou332]

The only problem is if you have too much in the 401k you really need to plan it out to make sure the taxes are being spread out evenly throughout the years.

[@firehorsewoman414]

And for those who planned well enough, if the RMD amount is more than one needs, there is no rule that says one has to spend it. It could be reinvested.

[@susanb1394]

I always love your videos! Thanks for posting!

[@cathyblasco4497]

FRA in November (66+8 months based on my birth date). Plans are to keep working for a few years. BANKING -pre tax- all funds received from SS into my 401k. With SS, my income will double. House and car paid off. $100K in 401k. I feel good about my plan right now.

[@whatsup3270]

Has she looked at deferring (catch up 401k/IRA) $1 for $1 with her social security, there maybe a tax advantage.

[@johnurban7333]

Saw that the Dow dropped 2000 points in the last couple of weeks. Also S&P 500 and NASDAQ dropped. That SS money going into 401k just disappeared

[@danamarie8718]

If you’re still working and don’t need social security yet, wait to draw until age 70.

[@Sweetpea12591]

@@johnurban7333the other side is she bought low.

[@renemccormick6137]

Reversed mortgage is a big no!

[@danamarie8718]

Why?

[@The-Armed-Pacifist]

Always informative. Thank you.

[@barbiec4312]

Thank you.

[@tedjohnson4451]

41 Work/ +21 Vacation/ 89 Calendar Days to Retirement at just after Age 62: I have a 70% State Pension coordinated with Social Security... Taking a Roth Distribution this year to Retire Credit Cards. In 2025 & 2026: I'll take 403b Distributions while my Taxable Income is lower. 2027: Early: Roth Conversions. Midyear: File for Social Security & Medicare.

[@sbayles5593]

Great information. Thx

[@Bondbeer]

Good video. Isn’t the gain from 62 to 67 higher than 6%. I know it’s calculated the other way meaning if you have $100 at age 67 there is a 30% or 6% per year reduction so at age 62 you would get $70. But going the other way 8% of $70 is $5.60 so 5 years of that is $28 getting you to $98. Plus larger COLA for waiting. Am I missing something?

[@newzwaresupport]

Do you have a segment on Roth conversions? Specifically, I am now 60 and plan on working full time until age 70 and now can convert a portion of my SEP without penalty. What are the tax thresholds that make a conversion a Go or No-Go decision?

[@tjava2338]

Thanks

[@Peterl4290]

Retirement is now more difficult than it was in the past. I've been saving for a long time instead of investing, and right now I only have about $400K. considering all the inflation, i'm thinking of investing in stocks, i dont just have idea on market strategies.

[@Mrshuster]

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.

[@jerrycampbell-ut9yf]

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.

[@sabastinenoah]

Do you mind sharing info on the advisor who assisted you?

[@jerrycampbell-ut9yf]

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

[@sabastinenoah]

I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.

[@briankowald6465]

Go with a Roth 401K or Ira. Avoid reverse mortgages. It would be better to sell and rent

[@danamarie8718]

Why sell and rent? Put a low LTV mortgage on your house instead. You can always sell it later if you need to go into a nursing home.

[@bssam2143]

I retire in 3 years have a Roth, 401k and CDs and a savings account. I hope to be okay and actually don’t want to use my funds except for emergencies

[@cr-iv1el]

Home insurance disallows renting a room.

[@marysvara5017]

The research for the 4% rule was based on a 30% retirement. You should know that.

[@HolySchmidt]

If you mean a 30 year retirement, the 4% rule is a heuristic, not a strict rule, and other factors can affect the safe withdrawal rate, such as tax rates, risk tolerance, and the tax status of your portfolio. For example, some say that the 4% rule may not account for unexpected events like market crashes or prolonged inflation

[@kb1759]

@@HolySchmidt Is the 4% rule for 40 years and not 30???

[@MAMAGGray]

Social Security office was Hell! People do not communicate with people any more.

[@firehorsewoman414]

Mr. S do you have a video on whether you think SSA will run out of funds, etc. and what would actually happen. I have seen reports of them only being able to fund 70+% by late 2030s. What are your houghTs on This?

[@sburger1685]

I hate reverse mortgage idea. Will have to be desperate

[@paparex5872]

Only if you're not planning on staying in the home. I've closed hundreds of them for people and it's been a very positive experience for them. Not for everyone, but a game changer for the better for my clients.

[@jonnelson9760]

I’m sorry but investing in your 401k or working longer both involve either working or saving more. Delaying social security might for some people also mean working more.

[@HolySchmidt]

The video explains the circumstances where those aren’t the case about mid way through.

[@katonk9401]

Is it better to take social security early rather than taking money from our retirement funds?

[@alexcarol6218]

Hi Geoff, you seem to have 16 $1USD bills in a frame behind your right shoulder. Is that your emergency fund? What’s that about?

[@sailingsvkalon1656]

If I have spousal SSI benefits does that grow the longer I wait to collect?

[@dwalker5175]

The taking social security timing is really interesting. Those who really need the income may take it at 62 or at their full retirement age of 65 to 67. Those that don’t need it can wait and get the largest benefit by waiting till they turn 70. I’m a “one percenter” who has assets in excess of $20 million. I don’t need social security but at age 74 receive the maximum benefit.

[@terryh1811]

at 70

[@Lolatyou332]

It really depends, sometimes it can be better to take SS early even if you have enough assets, cause your portfolio can continue earn gains. Though I think personally I would just use a 401k / brokerage until max benefits unless the market crashes. If the market crashes I'd probably consider taking SS even if it was a few years early

[@penelope5500]

65 hasn't been anyone's FRA for a very long time...

[@larryTX415]

@@Lolatyou332 This is what I'm doing as well. I've got a few years of cash saved up in case of a market crash. But if my choice is to take SS early, or start selling stocks at crash levels, I'll take SS early.

[@roseother8306]

We are all so happy for your bragging self. Toss the check you don't need in this direction...

[@budphillips8235]

I'm curious, Should I purchase my retirement home overseas now, or wait, it would save me using Air BnB and hotels

[@stacksats1]

No chapters... lots of spam comments... difficult to appreciate the content..

[@AlbertGReene-p8w]

I have two pensions. I would much rather have had a Roth 401k throughout my working lifetime in America. $500/month invested from 25 - 65 at 9% is 2.3mil. I hate my job but can't leave because of I won't get my state pension. What do you think about doing a 70/30 stocks bond ratio?

[@SkepticalMechanic-l9x]

I would avoid the index funds, mutual funds, or specific stocks for the time being. 5% fixed incomes are the safest bet for now. Save your cash for when the market actually shows signs of recovery

[@bruceeigsti5274]

well taking it later may not get any no one knows when i will die..

[@EstherRoss-gm8qv]

By age 50, it's recommended to have about six times your annual salary saved as your net worth. This ensures a comfortable retirement.

[@rachelcrossen8136]

Can someone explain the 4% rule to me? If the S&P 500 averages 8-10% each year why can’t we take 8% and still not touch the principle?

[@jalatlaco9827]

It actually doesn't avg 8-10% each year. It averages 8-10% over many years, with some years in the negative. The 4% rule is based on research (not really a rule) that determined that a portfolio of 50-70% equities would not deplete over 30 years if you take 4% each year and increase each year by inflation. Before this research advisors were telling clients to take 8-10% and many ran out of money....hence the need for research. Many who follow the 4% rule will have more money at the end than they started with. But some will have a much smaller portfolio at the end. This mostly depends on sequence of returns (and maybe inflation-I'm not sure). So what the 4% rule does is tell you that in every possible scenario (of good years and bad years) you will not deplete your portfolio-because no one wants to run out of money at 90.

[@damondiehl5637]

Because if you have one foot in a bucket of ice water and the other foot in a bucket of lava, ON AVERAGE, you feel fine. If you withdraw 4% and inflation eats 5% and the market only returns 6%, your principal is going down.

[@karllewis735]

TBF: I spend like a *PRO* in a candy store.

[@bssam2143]

My fear is could I lose it because of how our government has been handling the money. Giving it all away

[@kingroyal5480]

Exactly

[@georgeford6439]

I can not fathom a state income tax.....

[@Lolatyou332]

My state is just a few percentage points. A high or progressive state tax would be awful.. I can't imagine paying 10%+ like I believe they do in California

[@TT-fq7pl]

@@Lolatyou332 Why? Don't those taxes go to public services?

[@JacquilynSaito]

Hah, try the taxes in Portland,Oregon. Disgusting!

[@TT-fq7pl]

@@JacquilynSaito Why? What's wrong with paying taxes for public services? It's cheaper than being ripped off by private companies.

[@carolynford6461]

You either pay in state tax or property tax, either way the State has to have funds to operate.

[@drackkor725]

Sorry, I can't give you a thumbs-up on this video. The things suggested equal increase 401K or HSA = less money which totally debunks the title of this video.

[@SniperLogic]

Reverse mortgage looks like a synonym for Russian roulette to me. 🤷‍♂️

[@stephenparsons6011]

Reverse mortgage? Really?

[@roseother8306]

Maybe. Examine it. I don't have children, or anyone else who needs to benefit from my passing. RENTS ARE RIDICULOUS! Landlords are not always great, rental choices, ??? Neighbors?? Staying in your own home, being comfortable, but spending all the money from it before you die - how else would you work that out? I had planned to be a renter beyond 72, to spend my money and not have concerns about home maintenance, etc - but I already can't afford today's rental market. There have been dramatic financial changes in the last 4 years. Time and circumstances change everything...

[@danamarie8718]

I am definitely going to put a reverse mortgage on my house, and I am a person who hasn’t had any debt not even a mortgage for many years. I am 65, retired, will wait to draw SS until I am 70. At some point after that (maybe 75 or 80) I will probably get a reverse mortgage for about 50% LTV or less. Why not? I have no idea what I will spend the money on, but why not treat myself? Maybe a really nice vacation every year until I am no longer able.

[@bobadams7654]

Lots of SCAMMERS posting . Give them a thumbs down and also report them.

[@vinyl1Earthlink]

Your statements about Florida vs New York do not reflect reality. New York is very tough - you need to leave New York completely, and not spend any days there.

[@Lolatyou332]

Having a vacant house in NY half the year for tax purposes sounds like a great way to catch some squatters.

[@kevinfestner6126]

There is always Nevada

[@2Rugrats9597]

WRONG!! As long as you live 6mos. And 1day you can become a florida resident and you save a ton in taxes as far as SS, income tax,state tax, no inheritance tax, estate tax,etc. Tuen you use your home as a vacation home. Easy Peasy

[@jalatlaco9827]

Have you ever lived in NY? It's a very big state. There is nothing "tough" about where I live.

[@tonioyendis4464]

Take SS at 62 if you're not working; even if you don't need the money. You can invest it and make much more than waiting on 67 or 70!

[@johnurban7333]

Invest in what that makes more than 8%. Stock market can’t be trusted.

[@danamarie8718]

Bad advice. You aren’t taking risk into account. And you’re ignoring sequencing.

[@Survivor00001]

Ok, move to FL ; no income tax , but HOA, TAXES, Insurance, all a nightmare. Property expensive cost of living expenses, crowded, FL not like it was , appliances & vehicles need repair or replacement. Max SS , Ok , Look before U leap . U can retire to early. & the other side of the coin U can out live your $ . Health cost also come into play Retirement needs planning & things can still go wrong . Enjoying inflation ? Reverse Mortgage, they steal your equity. Rent ya live with renter losers & their cockroach’s & noise & drugs . Go head LOL .

[@CoachForsyth]

Lmao so 4% plus 7% inflation or 11% ahahahahah...And if any of you think it is actually 3.38% your not being honest with yourself.

[@glenn9057]

i recommend US workers go on a national strike to get back pensions. corporations have been earning record profits. the rich keep getting richer. workers deserve to get their pension back

[@danamarie8718]

If they give you a pension they will just lower wages. I would rather have control of my money.

[@rochester3]

pension is a scam

[@Riggsnic_co]

I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.

[@Jamessmith-12]

Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!

[@JacquelinePerrira]

That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!

[@kevinmarten]

Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?

[@JacquelinePerrira]

Carol Vivian Constable 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.

[@kevinmarten]

Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance

[@ppartin1103]

Thanks