I think the people that should be worried are those of us who are retiring with less than a million. I have only 650k in my Roth and I don't know how to grow it.
@Grace.milburn2 ай бұрын
I was in this same position a couple years ago. I was always anxious. I decided to start working with a financial advisor, and I started making a lot of monthly dividends that my anxiety disappeared.
@ThomasChai052 ай бұрын
That's my approach as well, even though I'm not retired. As a contractor with limited time to analyze assets, I've relied on a fiduciary for the past seven years to manage my portfolio. This strategy has helped me navigate market fluctuations and grow my portfolio by up to 300%.
@mariaguerrero082 ай бұрын
@@ThomasChai05Mind if I ask you to point at how to reach this particular person assisting you? Seems you've figured it all out unlike the rest of us.
@ThomasChai052 ай бұрын
*Izella Annette Anderson* has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
@mikegarvey172 ай бұрын
Thanks for sharing, 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 e-mail shortly.
@markgoicoechea78267 ай бұрын
I’m 60 years old working a physically demanding job. When I get out of bed in the morning to go to work every joint and almost every muscle in my body is screaming at me. I long for the year I turn 62 so I can finally rest.
@martinezjames837 ай бұрын
You earned it
@JeffreyGillespie7 ай бұрын
God bless, I’m 50 and getting pretty tired of it too.
@joegehlert81606 ай бұрын
Amen brother
@IndigoBellyDance6 ай бұрын
We used to die at 70, people are living longer. My advice if u can get a job less physically demanding. &/or cash in on social security at 67 & work a less physically demanding job. I won’t retire (ever) it’s just an economic reality. Imo the trick is to find long term jobs that don’t destroy our bodies And pay a living wage
@jimsack16 ай бұрын
Hopefully, you have more than SSI to retire on.
@marvinphillips13267 ай бұрын
I think she’s one of the few who truly understands our retirement system. And I don’t believe Larry Fink would be preaching Work Longer, Retire Later if he was a Roofer.
@msteach30827 ай бұрын
Precisely!
@clauderobotham62616 ай бұрын
And Larry Fink can keep his job as long as he wants, unlike the rest of us who get laid off in our 50s and can't get re-employed at any job paying a livable wage.
@beereaters6 ай бұрын
I agree on the role, however I can see (and hope for myself) that work can adapt as I age. I don't want to roof in my 60s, but my 30s and 40s I'd appreciate it and save like crazy. By 50 I'd rather do something less impactful on my body, but have a job all the same. Same in my 60s and 70s. Having a purpose each day is a really underappreciated thing, no matter how much it makes you hourly.
@marvinphillips13266 ай бұрын
take a good look at a person in there 70’s. People at that age (who are working) don’t move around like they used to.
@user-gz4ve8mw9l6 ай бұрын
@@clauderobotham6261 Worse yet if you've been working for decades at low wages or took until your 50s to reach a livable wage. Only to be laid off and now you are unable to even find a job for the lower wages again anymore either.
@austinbar6 ай бұрын
I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.
@joshbarney1146 ай бұрын
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.
@rogerwheelers43226 ай бұрын
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 a million dollars by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
@FabioOdelega8766 ай бұрын
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
@rogerwheelers43226 ай бұрын
I definitely share your sentiment about these firms. Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
@FabioOdelega8766 ай бұрын
I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look Marisa Breton Dollard up and send her a message. You've truly motivated me. God's blessings on you.
@JudiBerger-oq1dh6 ай бұрын
This is the first time I have seen someone hit the nail on the head. She is awesome
@jonpondi12066 ай бұрын
This comment is the comment that is absolutely correct and should be the most liked! This lay is a retirement genius!
@davidanderson73897 ай бұрын
I left my job at 61 as an RN because of anxiety and stress in the level one trauma center I worked in. Working longer wasn’t an option.
@bugsy29026 ай бұрын
Totally understand, I quit and took early retirement end of 2020 due to the stress and short staffing, unsafe working conditions and felt I would have a stroke if I didn't. Didn't look for a clinic job as I had back pain standing and have since found out I have spinal stenosis from all the wear and tear of bedside. Just waiting till I can take SS at 62! Considered disability but they make it almost impossible to get I think they hope people die first.
@buffycat46416 ай бұрын
And the damage to your body after being a nurse for years. We get it!
@kiranwingelaar70096 ай бұрын
Exactly, RN in the ER. They tried to push older nurses off the boat at 61 and onwards
@bugsy29026 ай бұрын
@@kiranwingelaar7009 Descension as I call them would fire the older workers and then make them reapply for their jobs for a lower wage when they took over a hospital. Unless you were union and they couldn't do that, then they would try to start a paper trail to push you out! Witch mgr during 2020 covid starting harassing and writing us up. First poor nurse she texted her on her Vacation about a vague problem demanding a disciplinary meeting to ruin it for her! Such a witch and she looked like Cruella DeVille complete with one long streak of grey hair LOL Then the 6 new grads one by one said she told them in the job interview how she was going to get rid of us! Shortly after covid peaked and she was then running around telling us how much she valued us and needed us! The new grads were leaving in 6 months' time instead of taking the bonus that would tie them to the place for 2 plus years! I wasn't the only one to quit. Now there are only 2 senior nurses left of my whole floor, everyone else quit or retired.
@joycewilson70486 ай бұрын
I am an RN who had to retire on disability. Nursing is hard on the body, mind and soul. After 42 years, my body just gave out, and I had left bedside nursing after 30 years.
@shellylofgren6 ай бұрын
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.
@donna_martins6 ай бұрын
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.
@Walter_hill_6 ай бұрын
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000
@Trevor_Morrow_LTD6 ай бұрын
Mind if I ask you to recommend this particular coach you using their service?
@Walter_hill_6 ай бұрын
'Vivian Jean Wilhelm a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
@Trevor_Morrow_LTD6 ай бұрын
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
@NicholasBall1303 ай бұрын
So far I'm doing good, approaching retirement with about 800k in savings. Transitioning from building wealth to spending can be scary, especially with soaring inflation. My question is, after maxing out my tax-advantaged retirement accounts, what next?
@StacieBMui3 ай бұрын
In my opinion, some financial situations can be handled on your own if you research enough, while others are best navigated in consultation with a financial advisor
@cowell6213 ай бұрын
Agreed, the role of advisors an only be overlooked but not denied. I was shocked that I made more money with investing than hard work, not even my CEO income. Earning ''return on investment'' fetched me millions within a space of 5 yrs.(But I still enjoy working)
@StocksWolf7523 ай бұрын
Could you possibly recommend a CFA you've consulted with?
@cowell6213 ай бұрын
Her name is Rebecca Nassar Dunne can't divulge much. Most likely, the internet should have her basic info, you can research if you like.
@grego62782 ай бұрын
I looked her up, and I have sent her an email. I hope she gets back to me soon. Thank you
@AFMOS-ND6 ай бұрын
Teresa was my economics professor back at Notre Dame. While I didn’t agree with her viewpoints on some topics, I thought that she provided really great ideas that made me think. In this interview she makes excellent points about needing more revenue into the retirement system rather than age extensions or benefit cuts. The abandonment of corporate pensions was a disaster for the American worker.
@chrisreynolds63916 ай бұрын
You’re so lucky!
@KampGallery6 ай бұрын
Have your views changed since you had Guilarducci as a teacher? Are there things you didn't agree with her back then that you might agree with now? I'm asking have you grown wiser?
@danklein85876 ай бұрын
Most people hate their jobs and want to retire ASAP. I retired at 65 because I could go on Medicare. My so called retirement age was 66 and six months. Best decision ever.
@SEnricoPIndiogine6 ай бұрын
That is my plan also. However, I need to move to a cheaper region because I would not do well on only SS and my savings.
@JuanAlmonte-rf7xk6 ай бұрын
Exactly,I retired at 63,moved to a lesser costly state & happy to enjoy my little nickel & dimes,my peace & decent health.Working longer can cost people their health with stress,physical activity & one can end up with savings they can’t use.
@teresaellis70886 ай бұрын
my husband retired at 62.He retired from army and then spent 21 at Toyota.If you work a job that is physical you wear out.He had hour commute and hour time difference and half 2nd job was nights and about 2 hours overtime a day. It was rough on him,I’m glad he is done.
@debbieframpton38576 ай бұрын
I retired at the age of 65 five years ago my full retirement age was 66
@paulconner46144 ай бұрын
I retired at 57 because I hit 30 years with my company and at that point they would let me stay on their health insurance at employee price until I was eligible for Medicare
@Riggsnic_co6 ай бұрын
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.
@kevinmarten6 ай бұрын
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.
@Jamessmith-126 ай бұрын
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.
@JacquelinePerrira6 ай бұрын
Your 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.
@JacquelinePerrira6 ай бұрын
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
@damienbates4 ай бұрын
The advantage to a national pension plan is they wouldn’t have to know anything about investing. They contribute as much as they can and get the returns accordingly. Simple and effective.
@gmp1167 ай бұрын
The professor’s comments are very insightful and she brings the receipts
@jordanwilliams93007 ай бұрын
"Well, a lot of these kids didn't pick the right parents"... This lady kicks ass 🎉
@frankfurtrent45536 ай бұрын
Me too
@perrynillup6 ай бұрын
Yes, find someone else to blame on day one.
@deepzone316 ай бұрын
@@perrynillup It's called sarcasm.
@dreindenver7987 ай бұрын
Of course, someone from Blackrock wants us to work longer. The retirement age should be 62.
@Zgreasewood6 ай бұрын
Most refuse to study the speakers back ground . Mike Johnson was a leader of a university,, that had no students and was another traitor trump university knock off for republican resumes.
@jjones88136 ай бұрын
Numbers 8:25 New King James Version and at the age of fifty years they must cease performing this work, and shall work no more
@sw61186 ай бұрын
That’s right the more you save, the more they can manage.
@gobot44556 ай бұрын
And the work houses, are they no longer in operarion?
@sw61186 ай бұрын
@@gobot4455 they’re coming back. The question with robots and so many other labor saving devices why will work houses be needed. People who want you to work until you drop aren’t paying attention that labor is increasingly unnecessary. It’s really hard for right wingers to accept that you can’t punish poverty by working people to death. I wonder what evil they’ll do.
@ItsMe-on6tt7 ай бұрын
I’m shocked that someone speaking this truth is on Bloomberg.
@145347 ай бұрын
It’s left wing propaganda. She was wrong on almost all counts.
@8ofwands3007 ай бұрын
M too! She's making great points!
@thetreekeeper1436 ай бұрын
Me too. Bloomberg is usually quite biased in my opinion.
@2legit2Kwit6 ай бұрын
This is actually shocking
@dragonfly69086 ай бұрын
Lol..........but true.
@Aarrenrhonda35 ай бұрын
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.
@Peterl42905 ай бұрын
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
@larrypaul-cw9nk5 ай бұрын
I completely agree; I am 60 years old, recently retired, and have approximately $1,250,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, having a portfolio-advisor for investing is genius!
@sabastinenoah5 ай бұрын
great gains there! mind sharing details of your advisor pleas? i've started gaining more cash flow with my employment and looking at putting money into stocks and alternative assets that can help build wealth over time
@larrypaul-cw9nk5 ай бұрын
Annette Christine Conte 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.
@sabastinenoah5 ай бұрын
I just googled her and I'm really impressed with her credentials; I reached out to her since l need all the assistance l can get. I just scheduled a caII.
@davidjackson21796 ай бұрын
This lady is a boss. Standing up for the working class and vulnerable elderly folks. She should run for office.
@mschreibernaoual7 ай бұрын
Thanks for talking about the health aspect and not just the financial side.
@als71327 ай бұрын
I liked Ms. Ghilarducci’s wisdom in creating and improving a retirement plan. I retired in my early sixties. I decided to work a few extra years, which benefited and enhanced my retirement funds. Thank you for this interview.
@jaycee45287 ай бұрын
First time hearing Teresa Ghilarducci speak. So articulate! Wish she would run for President!!
@tonylinardi30896 ай бұрын
This woman should have a position in government!! Finally someone speaking sensibly!! The system is set up for failure. Why is it countries send so much money to other countries in aid, yet the leave their taxpaying citizens in poverty in their senior years.
@matthewr88196 ай бұрын
Our political leaders seem to make decisions based on helping and taking care of non citizens instead of our citizens.
@d.e.b.b57886 ай бұрын
Because the gov't people who are directing that money overseas, are profiting from businesses in the country where the money is being sent.
@sw61186 ай бұрын
Because the republicans want something to fight over-like their refusal to pass the immigration bill THAT THEY NEGOTIATED so that they can complain about it because trump thinks its a talking point that he can use to his advantage. He and the republicans didn’t and don’t have our best interests at heart, unfortunately.
@memphistennis16915 ай бұрын
Except that we are the richest country in the world, and our capital markets attract foreign investment. 5 per cent of the population 25 per cent of the wealth of the world. Our people are not in poverty, there are many in humble circumstances because they did not save and they voted for Supply Side politicians who have comforted the rich while afflicting the poor.
@pfunk26376 ай бұрын
Teresa Ghilarducci is a very well informed and speaks truths that aren't discussed by corporations.
@sw61186 ай бұрын
They’re discussed, but only in the context of how to put more money in the c-suite.
@christschool6 ай бұрын
I remember when I was in my 20's and Nationsbank, now Bank of America, was pushing out 50 year olds by reassigning them territories hundreds of miles away. Now I'm 56 and I try to play defense. It was an important lesson I learned 30 years ago.
@Resmith18S6 ай бұрын
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?
@Countstep00996 ай бұрын
as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management
@LeepinLeopard6 ай бұрын
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.
@Petroguest-i4g6 ай бұрын
Your advisor must be really good. How I can get in touch? I have to start investing as I feel inflation is eating into my nest egg.
@2024Red-j5t6 ай бұрын
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
@carieyounginsurance6 ай бұрын
You should invest as early as possible and as much as possible- rather than paying off a home as your priority….many seniors don’t have retirement funds but paid off homes and it’s not helping their situations at all…then they reverse mortgage them and get heloc loans to get cash flow and it’s a bad gamble
@susanmarie22316 ай бұрын
Amen! I am 69 and retirement is not an option. I work as a self-employed non-medical senior caregiver for 17 years. I no longer take clients who require lifting. I had both hips replaced in 2022 due to osteoarthritis. I am very grateful to be in good shape again. Love the reality check of this program. Thank you!
@Mr_Nobody_CA7 ай бұрын
More people need to see this video and be educated
@SurefireMa1567 ай бұрын
“Work longer, retire later” yes our society of constantly increasing productivity and wealth ‘needs people to continue to work longer is a fallacy that makes no sense if you understand the numbers.
@gordongekko27817 ай бұрын
That's because the portion of profits distributed to labor is an ever shrinking piece of the pie. Productivity is continually rising while wages remain flat. Prior to Reagan wages rose with productivity.
@buffycat46416 ай бұрын
And then they tell you Social Security will be underfunded by 2033, so if your work to 70 good luck with collecting anything.
@imitationpitaya6 ай бұрын
@@buffycat4641 which is something that doesn’t have to be inevitable. There are policy changes that can be implemented. But doing that might mean raising the amount collected from the wealthy, so instead they’re trying get us all to believe that social security will completely evaporate within a decade
@interruptingaging7 ай бұрын
Teresa Ghilarducci nailed it! On all counts. Including, our aging demographic, and the fact that many older Americans simply are not financially prepared for retirement. Some people live longer, more are developing Alzheimer’s, others suffer death by despair. And so much more. All of these cost money.
@loveydovey4u7 ай бұрын
Don't forget about Diabetes! My uncle died at 62!
@interruptingaging7 ай бұрын
@@loveydovey4u So sorry to hear.
@buffycat46416 ай бұрын
Wear and tear on the body is different for a financial planner than a plumber or a roofer. Although the psychological stressors might be higher for the financial planner. Not one size fits all.
@CA069176 ай бұрын
Having people work longer is not the answer. We weren't made to work that long.
@iati62946 ай бұрын
I know a lady that worked at cleaning houses most of her life. She sent a lot of money to Mexico and has a 2 story home and at least 7 small properties that she rents. Now she has cancer and it’s looking worst everyday and might not make it. She never setup her property in mexico under her kids name so now it seems like her relatives in mexico are going to keep all her properties. Leaving her kids in the USA with nothing.
@yourseatatthetable6 ай бұрын
Some of us are unlikely to retire until the point where we'll need full time care. I work every hour I can get and barely have a savings account and we have people who drool over the idea of taking away our social security. They want the poor in this country to work until we die.
@michaelarnold75037 ай бұрын
Larry Fink is approaching the issue with corporate, financial biases that make him unable to accept empirical data. As boomers age and they pull staggering amounts of investment dollars out of the financial system it is going to get really interesting. A consumer based economy that looks toward younger, poorer generations to prop it up is going to be in trouble.
@juliebee616 ай бұрын
didn't think of it that way. but certainly, the greatest transfer of wealth ever seen is picking up steam.
@down-to-earth-mystery-school6 ай бұрын
Maybe we will realize that we aren’t meant to be ‘consumers’, striving for endless growth. Younger generations understand that we live on a finite planet with finite resources.
@mudandglitter16096 ай бұрын
@julieburkhardt61 What wealth transfer? Long term health care is depleting those assets faster than I have ever seen.
@jordanwilliams93007 ай бұрын
The rare segment on here where uncomfortable truths of wealth inequality is actually discussed
@gagnepaingilly6 ай бұрын
Baby boomers are retiring or on the verge to, so how do we deal with such recession-influenced market conditions? Typically my $250k worth of holdings go up 8% then lose 20% right after and the cycle continues, I’m confused and truly sick of the system
@sommersalt886 ай бұрын
Inflation gives the illusion of growth
@blaquopaque6 ай бұрын
De-risk your portfolio, shore up your core holdings, and take some profits while balancing your portfolio allocations. I’d also suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I. We've made over 80% capital growth minus dividends.
@Curbalnk6 ай бұрын
@blaqueopaque I'm scared about retirement as I turn 60 on my next birthday. I need to ensure I have enough money to survive on. How can I consult your advisor? My retirement account isn't performing well.
@blaquopaque6 ай бұрын
There are a handful of experts in the field. I've experimented with a few over the past years, but We've stuck with ‘'Kristin Amber Landis” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
@Curbalnk6 ай бұрын
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
@paulrivera-u4o7 ай бұрын
This lady is awesome. I’m going to watch more of her videos.
@williamdunlop81916 ай бұрын
Smart lady with very complicated issures most people will not talk about
@lenering10846 ай бұрын
This lady really knows what she is talking about. We need to listen to her more.
@adamtharpe95877 ай бұрын
With all the stress of just working and trying to afford the basics, many won’t live long enough to reach retirement age. If you do you will be too old to enjoy the things you always wanted to do. Only the wealthier, smart investors & the lucky has such opportunity.
@GillerHeston6 ай бұрын
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
@joshbarney1146 ай бұрын
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
@rogerwheelers43226 ай бұрын
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
@rogerwheelers43226 ай бұрын
I definitely share your sentiment about these firms. Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
@paradise66066 ай бұрын
401k are a terrible idea. Don't trust others with your money ever.
@summerjoy2476 ай бұрын
It’s so hard to save 20% of your income when your income is sucked up by taxes and overpriced priced cost of living.
@Mike-dd8bd7 ай бұрын
Its kind of scary how reliant we are on the stock market. Vast majority of people who invest in the market don`t even know who or what they are invested in. The only thing they expect is that the portfolio magically goes up in value by the time they retire.
@IakonaWayne7 ай бұрын
Refer to Peter theil and Eric Weinstein growth obligation theory
@Martin-qm2lg6 ай бұрын
You are responsible! Know what you own!
@memphistennis16915 ай бұрын
It has been going up, but the first 8 years I was investing seriously the market went down year after year from 12,000 to 6,600 (the Dow). I did not hold my nerve and under-exposed my retirement accounts to the market after that so here I am wondering what to do with a very expensive market having missed out on a lot of the run up........
@JonMeierding-je2iy7 ай бұрын
Why does the government limit us so bad funding our IRA. I'm 63 and ready to retire but they only allow me to contribute 8000/yr. This is supposed to be my future, cmon let's double that at least. Good info thanks for educating us with this. Jon
@cliffhuoh14927 ай бұрын
Because the government wants your tax money now.
@stephenlight6477 ай бұрын
Because they want the taxes.
@martuccijr7 ай бұрын
I agree. Why aren’t the IRA and 401k contribution limits the same? The IRA contribution limit should equal the 401k limit
@8ofwands3007 ай бұрын
@@martuccijr good point.
@nicogreco78557 ай бұрын
@@martuccijr 401ks and IRAs were born from totally separate ideas. IRAs were made by Congress and explicitly made for retirement purposes, hence the name Individual RETIREMENT Account, so that a worker's retirement wasn't solely dependent on their employer providing a pension. 401ks were made as a way for employers to provide their employees with tax -deferred cash bonuses and stock ( we see this today every time your employer matches your contributions, these are in fact cash bonuses). 401ks weren't designed to be used exactly how they are today, so think of it more as a bug that became a feature of the system.
@perrynillup6 ай бұрын
For 50 years I have seen great workers over 55 being pushed out first. Same happened to me...I fully expected it and on day minus two when the said they had made a mistake, I told them no thanks.
@terrybumpass47996 ай бұрын
This lady would be a good treasury secretary.
@angieprice72066 ай бұрын
She should be the head of the treasury.
@terrybumpass47996 ай бұрын
@@angieprice7206 Treasury secretary is the head of the treasury. I agree with you.
@thedude29207 ай бұрын
Great convo. Thank you for the long form to hear out the thoughts. Great interviewer also.
@02nupe7 ай бұрын
agreed
@philipsamuelsen79047 ай бұрын
Teresa is an exceptionally intelligent woman. The investor class see the 401k system as a giant pool of money for them to skim for profits.
@ProvocateuAstrology26 ай бұрын
People over the age of 60 have a hard time getting a job because they are discriminated against by HR people.Why don't you interview some of the top accounting firms and ask them?How many people over the age of 50 do they have in staff?Senior or manager rolls you'll find next to none
@stephaniejames47756 ай бұрын
She totally gets it! I retired early from nursing because of neck and back wear and tear. Better to have less chronic pain but I will have to be more frugal.
@Cathy-xi8cb6 ай бұрын
Start saving for retirement and investing for retirement right away. I waited until 30 and had to plow 25% of my income into a SEP. If I had started with my first job at 18, it would have been closer to 20%. Compounding is magic. I didn't need all those silly things that I bought. I could have put away the amount I spent on lip gloss and had it amount to thousands 45 years later.
@johnnyretires7 ай бұрын
Yes, the modern workplace has become very very stressful!!
@xiao-minli50185 ай бұрын
Indeed ! I (over 60) need to keep up with the young co-workers in the office. New ways of communicate with them, chatting, texting, zoom meeting, all sorts of new thing to learn. The worst part for me is to type fast and spell correctly... My poor eyes, I keep 3 pairs of different glasses in my daily bag. Can't wait to retire.
@maramcmanus96696 ай бұрын
If you want to improve retirement, deal with runaway drug prices. Just one of my meds is $75k a year and when I transition to medicare it will not be covered. My insurance is $2k per month not including a 12k annual deductible. Get real.
@sw61186 ай бұрын
Runaway drug AND medical care costs.
@SurpriseMeJT6 ай бұрын
If money is tight in the US during retirement, you should simply try moving to another country. There are long stay visa's for retirees in many countries where you might have to buy private insurance, but it will be many times less expensive than the US and the drugs will be many times less expensive. Add to that the weather and food quality will be better too.
@joegehlert81606 ай бұрын
I've been saying this since 401's started. Now at 61 I'm living through it.
@jeffa71486 ай бұрын
Let's give the government more money to manage because they've done such a great job managing what they currently take in. Great idea.
@donnaallgaier-lamberti39337 ай бұрын
ISSUES I SEE REGARDING RETIREMEN:T Spending problems, not savings problems, having/raising and educating children. not enough financial education. divorce (loss of assets) lower wages and Autoimmune conditions, My husband is age 79 and STILL works three days a week (because he and I were previously divorced and he work in city government and never earned more than $50,000 at his peak.) My husband stands on cement 8 hours per day (three days per week) on feet with severe neuropathy, high arches, hammertoes, and multiple neuro-physical issues. THANK YOU for recognizing and calling attention to the difficulties of aging and continuing to work in jobs that take a huge toll on the body.
@buffycat46416 ай бұрын
I agree with the "spending problem." That seems to be epidemic in America and is a killer when it comes to saving for retirement. I was a spender until I hit my early 40s, then as a single woman with no one to rely on by myself I developed a plan. I got a job with a County agency and stayed there until I was 67. My highest paycheck was $66,000 toward the last 2 years. The County provided a state pension, plus I contributed to a 457 plan. Whenever I got a raise, the raise went directly into the 457 savings plan. If you don't have it, you don't miss it. I bought a tiny home 842 sq ft and kept it for 22 years, paying the mortgage off in 13. After I paid the mortgage off that mortgage then went into the 457 savings plan. I do live frugally but was able to retire comfortably. Life is all about choices.
@james_chatman4 ай бұрын
You think you're a hard-nosed realist but you're just a deluded idealist.
@katinthecorner6 ай бұрын
At age of 55 I agree my body is not keeping up with my pink collar and desk work.
@pleasesayhi40096 ай бұрын
Want to retire? 1) Don't be single 2) Don't have health problems or disabilities 3) Don't have children 4) Don't be a minority 5) Have rich parents 6) Have kind parents. I am terrified of dying of a broken hip living out of my car in my old age. I have a job and insurance but still cannot afford to save for retirement or get the medical care I need. This year I decided to simply stop going to the doctor and accept whatever happens.
@JonMeierding-je2iy6 ай бұрын
I don't go to doctors either. I'm afraid they say the big c word and so long to live. I'd rather not know that.
@fedguy91826 ай бұрын
Don’t be a singe mom out of wed lock is missing from your list
@Surf626 ай бұрын
@@fedguy9182Bingo.
@drscopeify6 ай бұрын
Are you 65? Are you on Medicare?
@gbb826 ай бұрын
I guess I failed because I am a minority, but fortunately for me I spent 25 years between active and reserve military duty so I’m able to retire with a decent pension with a COLA. Not a whole lot of money but it pays all my bills and leaves a little over.
@northharriscollege7 ай бұрын
work longer? But I thought AI was going to take 90 percent of all the jobs. How are they supposed to support 80 percent of the population with ubi but can hardly afford to let the elderly retire. Not adding up.
@Zero11_ss7 ай бұрын
Ai is already taking jobs. Its only going to ramp up from here. Dark future for lower middle class and below.
@stephenharper66387 ай бұрын
Tax the f-ing robots already! :)
@gordongekko27817 ай бұрын
@@Zero11_ss Actually, AI is a greater threat to white collar jobs. One accountant doing the work of five -- that sort of thing.
@Zero11_ss7 ай бұрын
@@gordongekko2781 sure but look at whats happened to basic jobs even before this, gatekeeping them behind college degrees that have nothing to do with the job or locked behind "networking" which is really just nepotism. Those white collar workers might lose their job but they'll just be taking the lower tier jobs.
@MrSteeDoo6 ай бұрын
There is a solution.
@bwhite99937 ай бұрын
Nobody talks about mental stress! With technology breakthroughs real time solutioning and HIGH demands for instant answers and 24 X 7 time availability are killing people even though they aren't blue collar. Sure the big wigs in Blackrock that are at the top..sure they can work longer just telling everyone under them what to do. "Hey I will be golfing this weekend but I need to see the revenue numbers by monday"
@davewhitegt7 ай бұрын
Don’t punish the investor by raising capital gains tax, just take off the cap for social security tax. Right now anyone earning more than $168k doesn’t pay any social security tax on those earning above $168k. It’s a very simple solution. Also someone needs to put the government in check to stop spending soo much money on wasteful BS. Just balance the checkbook. However, I do also like the plan of individual investment accounts set up for everyone. Combining these three things would be a great for people without pensions or 401ks. Nothing beats the power of years and years of compound interest.
@MrSteeDoo6 ай бұрын
Government spending is spent into the private sector. Government spending doesn't make money vanish.
@davewhitegt6 ай бұрын
@@MrSteeDooso you think it’s ok to add 100s of earmarks into a bills that has nothing to do with those earmarks? You don’t think there are any misappropriated funds?
@MrSteeDoo6 ай бұрын
@@davewhitegt The money goes into the private sector. How much more simple can I make it for you?
@davewhitegt6 ай бұрын
@@MrSteeDoooh no, you made it very simple. 🤣🤣🤣
@buffycat46416 ай бұрын
Plus, stop taxing us again on our Social Security income!
@nhoramartinez64156 ай бұрын
This is the smartest woman that I’ve ever met. Can we have her as our next President?
@nicford5486 ай бұрын
She’s absolutely right! Most Americans are NOT living longer.
@SurpriseMeJT6 ай бұрын
If you want to live longer as someone who is not rich, the best course of action is to leave the US and Canada.
@leighnash61406 ай бұрын
Very insightful! Thank you for this interview. It is helpful and truthful about what people in the US face.
@scottpaulsen-z7e7 ай бұрын
This is the difference between smart and wise. Thanks.
@jeffs98507 ай бұрын
Teresa has been preaching this for decades. The rich & bought politicians refuse to do anything to truly help the vast majority of the populace. I hope one day voters force changes like she talks about. 🙏🏻
@ohsocooll123426 ай бұрын
The voters are responsible for voting on culture war issues and not for politicians who would actually do good for the majority
@esyjournal6 ай бұрын
You'd think the Board of Education would make Financial Education mandatory in Elementary School, JHS, and HS. Yet, no one is tested on their understanding of interest rates before they leave school.
@invisiblesun65956 ай бұрын
I like the way she thinks. She'd make a perfect advocate for the COLA adjustments retirees get, which is nowhere near what they should be year to year.
@Goat12296 ай бұрын
This lady was spot on and told nothing but the truth
@jimsack17 ай бұрын
We have responsibility. Some individuals take their retirement funding seriously, most don’t.
@joegehlert81606 ай бұрын
Most can't.
@buffycat46416 ай бұрын
@@joegehlert8160 I am a single female who made fairly low wages all my life with no one else to rely on. If I could do it so can others, but it takes fiscal responsibility and learning how to live within or below your means. People feel they should have it all, well guess what sometimes you can't.
@joegehlert81606 ай бұрын
@@buffycat4641 ,well life is funny for some, cancer,divorce, and much much more. I quit work after itp and lung issues. Oh, and then 700 a month child support from the Rome I was 38. 😆
@jimsack16 ай бұрын
@@joegehlert8160 how’s that?
@michaelwiebeck35 ай бұрын
Great video, Another factor to add is Do they spend a lot of time planning their financial future? The majority of people do not engage in planing for their future
@bert31637 ай бұрын
If only some mechanism existed for individual workers to work together and negotiate for better wages and benefits. 🙄
@michelles.19307 ай бұрын
The answer isn’t working longer. The answer is paying ceos and shareholders less and putting that money into pensions.
@tommyeschung7 ай бұрын
Pay ceos less
@williamchangusa7 ай бұрын
Saving for retirement is not how much you make. It’s how much you save. Without 401k, there would be much less savings in retirement
@StorytellerSueW7 ай бұрын
Yeah, the three-legged stool approach got the pension leg kicked out from under it by corporate greed.
@buffycat46416 ай бұрын
With legislators in Washingtons help!
@memphistennis16915 ай бұрын
The pension leg got kicked out by voters, like frogs and lobsters not realizing they are on the boil, electing politicians who fed the corporate greed for 45 years with supply side economics and voted down minimum wage legislation every time it came up for a vote.
@amuseinthecraftroom62576 ай бұрын
I've officially left my corporate job at 50....I would have given them 5 more years, but early savings and low debt are the only reason I'm not freaking out right now. I'm loving this conversation, and I think I need to write my congress critters about the pension bill she mentioned.
@jjones88136 ай бұрын
Numbers 8:25 King James Bible And from the age of fifty years they shall cease waiting upon the service thereof, and shall serve no more: New King James Version and at the age of fifty years they must cease performing this work, and shall work no more
@davido.29327 ай бұрын
Insightful and straightforward analysis. Thanks.
@gena15867 ай бұрын
Sitting in a chair is not the same as lifting things when it comes to work 🙀
@nellyjohnson73167 ай бұрын
Weight training works wonders.
@buffycat46416 ай бұрын
@@nellyjohnson7316 Many times but not always. If you have medical issues like stenosis, osteoporosis or severe arthritis you can actually do damage. Always get the approval of your physician first.
@user-gz4ve8mw9l6 ай бұрын
@@nellyjohnson7316 Old age catches up to everyone inevitably. Not to mention you can't predict any health issues that arise. No certainty in avoiding it by doing everything right even if you could.
@down-to-earth-mystery-school6 ай бұрын
Sitting in a chair if very hard for me as a 52 year old with fibromyalgia. It makes me hurt so much worse.
@marymaceachran25866 ай бұрын
This woman guest is brilliant!
@Fell2147 ай бұрын
I retired at 58 with a guaranteed public pension of $8,500 per month for life. Didn’t have to contribute a dime to the plan... just 30 years of loyal service. I get annual COLA increases and the pension is 100% passed to my surviving spouse for life. Add our combined $4,500 of monthly SS at 62 and retirement is great even if we didn’t touch our savings. I chose to work for an employer that supported my retirement. Others choose different paths.
@theonlycaulfield7 ай бұрын
All is well till the public pension plan collapses due to no longer being funded sufficiently. A number of US and Canadian pension plans have already reported that they'll run out by 2030. Just another part of the retirement problem with more people, such as yourself, taking out of the plans than are now funding it. Social security itself is set to have more people taking out than funding it by the mid-2030s.
@Fell2147 ай бұрын
@@theonlycaulfield My public plan is 90% funded and the state Supreme Court has already ruled that earned benefits can’t be reduced. Life is good.
@pmill57817 ай бұрын
They’re waiting on a bailout from the liberals
@pensacola3217 ай бұрын
Military
@theonlycaulfield7 ай бұрын
@@Fell214 Illinois had a similar ruling, but the ruling is meaningless if the pension funding is insufficient. We are only at the tipping point of the retirement crisis. The funding now doesn't matter as much as the projected funding in 10 years after we have a large wave of new retirees.
@juliepeterson56176 ай бұрын
It’s remarkable to hear someone being truthful about this!
@PrettyGoodLookin7 ай бұрын
Because Public Schools don't teach retirement preparedness.
@stephenharper66387 ай бұрын
Not their job. It's the parents. It's always the parents.
@PrettyGoodLookin7 ай бұрын
@@stephenharper6638 It's the mandatory Public Schools job to TEACH the necessary skills. How is a Parent supposed to teach complicated subjects ?
@stephenharper66387 ай бұрын
@@PrettyGoodLookin Teaching teens retirement? hahaha Schools are good. Anyone graduating with 10 AP classes has a good education. They know they can learn.
@PrettyGoodLookin7 ай бұрын
@@stephenharper6638 Yes, teaching teens retirement, Retirement preparation starts right out of HS for those who understand compound interest and investing.
@weho_brian7 ай бұрын
not so much retirement preparedness versus just overall financial literacy when it comes to managing ones own personal finances
@dpporlando7 ай бұрын
Why doesnt the U.S. have a sovereign wealth fund to fund a pension system?
@stephenlight6477 ай бұрын
Because that money would not be able to be used for other government expenses. It all goes into one big pot.
@johnnyretires7 ай бұрын
SS is our social pay as you go pension system. SS is excellent in many ways but needs improvement.
@dpporlando7 ай бұрын
@@johnnyretires SSI is not a pension.
@johnnyretires7 ай бұрын
@@dpporlando yes. It is more technically an annuity. It is the mother of all annuities
@michaelcap95507 ай бұрын
@@johnnyretires SS branched out to other areas like Disability. If it stayed just for retirement, it would be in a better position.
@prancer47437 ай бұрын
Wow you are 100% on the money thanks for being so honest 🙏🙏🙏
@lokijordan6 ай бұрын
We don't save and/or invest because we have short attention spans and lack impulse control. This is why SS is essentially compulsory. And while I applaud this economist's ability to define the real world problems and target solutions, we are going to have to raise education levels above that of a fifth-grader to get people to embrace the shift in sensibilities toward investing.
@aryaastark92016 ай бұрын
She mentioned that the issue is NOT a lack of education, but rather a sense of despair and resignation that no matter what people do they will have to work in old age.
@lokijordan6 ай бұрын
@@aryaastark9201 I understand that perspective, however, I have been investing for about eight years and telling my mostly younger coworkers about it and how to do it, too. My experience is they don't listen until they see how it has benefitted someone from similar circumstances. I figured it out on my own but doing simple math. Most people can do the same, however, my observation has consistently been they get sidetracked and derailed by their impulsive behavior.
@btuesday6 ай бұрын
Great ideas, but do we have politicians honest enough to carry out these reforms? If we gave them more money, they would just spend it on nonsense.
@geneadaway26716 ай бұрын
We could have funded Social Security, but we spent it all on weapons.
@down-to-earth-mystery-school6 ай бұрын
Bingo! And then they gaslight us for not saving enough…
@bcase53286 ай бұрын
What about removing the cap on SSI contributions?
@tangerinenix50816 ай бұрын
At 63 having a corporate career I agree about the stress and cortisol. Have to wait to get Medicare before retiring
@dragonfly69086 ай бұрын
In the UK we have the same problem. We have 9.2 million people who are economically inactive, they are not in work and not looking for work.
@buffycat46416 ай бұрын
Thankfully, we at the moment have low unemployment rates in America.
@dragonfly69086 ай бұрын
@@buffycat4641 The same in the UK, we have low unemployment at 4.3%. Also in the UK out of the 9.2 million economically inactive people 3.5 million are over the age of 50 and these people have taken early retirement, some because of illness and the majority of these people have no intention of returning to work.
@down-to-earth-mystery-school6 ай бұрын
They are tired of working for nothing, then being blamed for not having a ‘good’ job.
@oldgadfly83986 ай бұрын
Health Savings Accounts should be available to all regardless of if you have high deductible health plan.
@dagreatstoney.58696 ай бұрын
This woman should be president, 👍
@stephenharper66387 ай бұрын
Lift the maximum amount to be earned from $21K approx. without impacting Social Security for those taking it before full retirement. Serious impact on senior finances immediately and retains skills in the workplace.
@luvtravel62076 ай бұрын
Insurance companies hiking rates, interest rates are insane, food prices are outrageous, who knows what “enough money” to retire even means anymore
@rainetravels14106 ай бұрын
I meant to pick wealthy entrepreneurial parents as well, but didn't my bad.😊
@bluhammer066 ай бұрын
The minute a national retirement plan comes into effect, every company providing any kind of retirement such as 401K now, will immediately stop providing those plans.
@MrTigerStarX7 ай бұрын
Brilliantly insightful
@hubertvecht72555 ай бұрын
Health care will destroy all retirement goals ! Fix that and fix retirement !!
@TheRealTommyR7 ай бұрын
Wow, what an excellent, eye-opening conversation! The economist is so articulate and precisely educated us, clarified important misconceptions, stated facts that need to be said for the American people, and has a strategy to actually solve or significantly improve the problem. She truly knows her stuff! The interviewer asked excellent questions also.
@whiterabbit34396 ай бұрын
Incrediblly thoughtful, articulate, and nuanced! A real patriot!
@nicolasbenson009Ай бұрын
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.
@sharonwinson-m8gАй бұрын
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
@tatianastarcicАй бұрын
You are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
@Vincent-j8uАй бұрын
Mind if I ask you to recommend this particular coach you using their service?
@tatianastarcicАй бұрын
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
@TinaJames222Ай бұрын
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
@HarryJoiner7 ай бұрын
Extremely smart / articulate lady
@AnonymousanonymousA7 ай бұрын
add medical gaslighting, medical upcoding, 33% kickbacks between medical doctors robbing taxes and leading to increased taxes,
@MrTigerStarX7 ай бұрын
Correct. There are so many useless procedures to inflate medical bills: it is criminally aburd.
@anniealexander96167 ай бұрын
Retirement is so much easier with a paid off mortgage. Everything isn't about 401k. I pay into social security and Medicare. Then I contribute to 401k, and HSA. This is ontop of paying weekly insurance premium through my employer. I go to work sick like most of my coworkers. Taking a day off to be sick, plus a doctor's visit and prescriptions are equal to a cheap vacation. My last vacation was during covid when the govt was handing out money. I've had to help my children with housing because it's crazy expensive. Now I'm 52 years old building fiber optic cables and trying to resave for my retirement. I struggled to move cables that weight up to 1000lbs. I struggle to see fibers when testing. I struggle to work 12.25 hours a day, 4 days straight.
@MrSteeDoo6 ай бұрын
You act like you don't have insurance. Also, you go to the doctor for every little scratch or sniffle?
@matthewprather73866 ай бұрын
Kids don’t pick their parents - so true! And along with everything this guest highlighted, we also need to address the preparation gap that exists between the rich and the poor.. We miss opportunities to lower the societal burden by waiting too late to start preparing people for success - both in life skills and marketable skills. We can intercept some people at 18 years old and get them on the economic ladder, but we’ll serve a lot more if we make sure they’re getting good education and all that underpins it by starting with children.