Morningstar’s Alarming Report About Retirement

[@colinswan]

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

[@CODYGosling]

Ain’t that the truth?

[@CODYGosling]

The increasing prices have impacted my plan to retire at 54, work part-time, and save for the future.

[@LucaZaniolo]

Retirement is more tricky than it was in the past, balancing your risk tolerance with your long-term goals become crucial. Consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.

[@RitaMeyers-oc4le]

AGREED!! I’ve always delegated my excesses to an advisor, since suffering major portfolio loss late 2021. I’m semi-retired and only work 8-9 hours a week with barely 25% short of my $3M retirement goal.

[@ScottFurlon]

Thanks for sharing your experience! I’ve been managing my portfolio myself, but it’s hasn’t worked out. Can you recommend a standard advisor? I could really use some help.

[@cdd4530]

Great article as always Azul, I’ll be 66 this year, (2025) and still working, planning to retire before year-end. Though I did not retire early, I haven’t waited until retirement to “live my best life”. I take all my vacation days from work and enjoy them to the fullest. PR & Alaska trips already planned for this year. Yes, saving for retirement should be a no brainer, but enjoying your life now instead of waiting for job freedom tomorrow is a must.

[@scottjackson163]

Your age and retirement timeline is the same as mine. I anticipate being able to add another $100K to my 403 (B) retirement savings in 2025. In January/February of 2026, I’ll take FRA + 10 months delayed Social Security and pull the ripcord.

[@sjsmith4076]

You are doing it right! Save of course but don't wait until retirement to enjoy life. I thank God I took enjoyable trips because at age 49 I was given a stage 4 cancer diagnosis. I am still here but my energy has lessen

[@Cynicalgeek743]

OMG, what groundbreaking research. Have a workplace pension, work longer, delay Social Security and you will have a better chance of having enough money in retirement. So save more, earn more and spend less means you will have less chance of running out of money later. Where do they find these geniuses?

[@Zachary_Setzer]

Lacking wizards, they hire people who are bound by the rules of reality, math, and logic.

[@Cynicalgeek743]

@@Zachary_Setzer yes, people with PhDs in the bloody obvious

[@Zachary_Setzer]

@Cynicalgeek743 In a world where so many people want to know how to have wealth (or at least financial security) but don't want obvious answers like work harder, work longer, invest consistently, and delay gratification.

[@roareward]

@@Zachary_Setzer People don't think that science and math (or reality) is worth learning, when are you ever going to use it? Retirement for most people is the point they can't work anymore and need enough to continue to live until the end. It isn't about enjoying the rest of their lives. They may want it to be but because they never wanted to do anything to achieve it, that is just not what it is going to be. If SS drops again most of the "retired" and soon to be retired population is going to be in a boat load of problems with many going homeless. Unfortunately, maybe that is what we need to wake people up, but I am sure nobody will get the message and just blame it on someone else.

[@elohcin42]

Who have a workplace pension nowadays, you’re a bit out of touch with the average US worker.

[@Helen_white1]

My company paid a consultant to provide retirement classes when I was 24 and just started saving for retirement. The class was called "The Kids Table" and basically their advice was go with a target retirement fund that aligned with your 65th birthday. That was 20 years ago. It is the only thing I've ever invested in. How else can I better my finance?

[@berniceburgos-]

target date funds have made me a multimillionaire. i also watched them drop 40% in a very short time and take a long time to recover.

[@Grace.h-t8o]

Agreed, when it comes time to retirement planning, following the steps of a well experienced advisor did the trick for me in barely 5 years, turned my $500k capital to 5 figure monthly dividends. If you want to keep it very safe, then Vanguard TDF may be for you.

[@Lewistonwilliams-f5i]

this is superb! Is there a problem sharing details of your financial advisor ? I have my money in a Roth, and I am trying to diversify my investment for better growth

[@Grace.h-t8o]

Stacy Lynn Staples is the licensed advisor I use. Just google the name and you'd find basic info. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.

[@Theodorebarba]

thanks for putting this out, curiously inputted Stacy Lynn Staples on the web, spotted her consulting page and was able to schedule a call session, she actually shows a great deal of expertise

[@sw6118]

There is NO excuse for allowing you to put in $20,000+ into a 401K and only $6000+ into an IRA when your employer doesn’t offer anything.

[@Dave-sw2dm]

Huh? Allowing?

[@ItsEverythingElse]

I think he's saying that if your employer doesn't have a 401k then you are kind of screwed because IRA limits are pretty low. But how many companies don't have a 401k these days?

[@Vanguard-c1u]

@@ItsEverythingElse And, depending on your salary, how much will you have at retirement?

[@Dave-sw2dm]

@@ItsEverythingElse thanks.

[@jrm2383]

You can open more than one Ira if you want

[@jazzyandres2438]

People forget that assisted living can easily cost $15k a month!

[@rickyaz8640]

That’s what the equity in your house is for, the last few months. Better than working to 67

[@tombkk1322]

in-home 24 hour nursing care can cost $250k a year! If people decide to stay in their houses, it’s going to cost a lot of money.

[@nikij.6058]

This is highway robbery! Fully taking advantage. Only in the US!

[@kathyokinaga9888]

You don't need to be a millionaire to retire, you don't need to spend 3 months of salary on an engagement ring, you don't need an inch or toothpaste when brushing your teeth. These were all marketing scams.

[@joeskwara5823]

I think the most important thing next to money is based on what different physicians who don’t know each other have told me and that is that if people don’t continue to work or do something that is very intellectually challenging and I don’t mean doing a little volunteer work that they fall off the cognitive Cliff as fast as possible so I plan on having a little bit of work and a little bit of stress from that because it’s good for you.

[@Vanguard-c1u]

Hellovasentence, Joe!

[@joeskwara5823]

@ lol.

[@glennet9613]

You can keep mentally active without working - at the moment I’m teaching myself 3D graphics, animation and Python and trying to improve my French. I’ve no reason to do it apart from personal satisfaction, I don’t have any great talent for it. As for stress, I think struggling to understand something, I can spend hours trying to figure out why something doesn’t work, is good stress but the sort of stress I used to get at work is bad stress.

[@joeskwara5823]

@ I agree with you and good for you. Great things to learn too I’m referring to mind numbing things or people that think working in the yard or meeting up with friends is going to keep the brain juices and stresses going. The stories these doctors have told me are amazing and they’re certain of what they have seen and it’s much more men that this happens to than women

[@Sylvan_dB]

The weather looks pretty nice! When was this recorded?

[@patricke170]

The problem with feeling secure is that our reckless irresponsible politicians keeps spending more money than we have. This causes inflation, which is literally an increase in the money supply, the symptom of this is increased prices for everything we need to buy. They are printing money around the clock. The result of the continual destruction of the purchasing power of the dollars we have worked so hard to earn and sacrificed so much in the present to save so that we will not be dependent on anyone when we are unable to work anymore and vulnerable. It’s absolutely disgusting how they abuse the vulnerable senior who built this country.

[@droubal]

True, the massive borrowing and government spending is responsible for the big increase in prices we have seen the past few years. Worse, in less than 10 years Social Security can only pay about 75% of current benefits. The debt is rising at a rate that will put even that at risk. We will turn into Argentina if they do not get control of this. During the GFC Greece had to cut their pension system by about 50%, due to debt and a weak economy.

[@johnbrown1851]

Didn't help having a war based on lies about WMDs , wasting our dollars and the lives of our precious service men and women.

[@msambly5310]

What else causes inflation/rising costs? Capitalism is about supply and demand. Back in the 1970s OPEC drove up the price per barrel of oil by not producing it...which caused gas prices to rise and lines for gas...during the depression farmers dumped their milk out, so there would be less of it, and prices would rise! Beanie Babies were all the rage and with the exception of a few limited ones, they are now pretty much worthless (demand plummeted). three years ago Detroit Lions tickets were among the cheapest in the league, now they have sky rocketed in demand and price. During covid supply chains were disrupted but demand for products was high. It's still high. and the supply chains are not back to pre-covid levels. The Chinese have used "shipping" as a way to get back at the U.S. and they have actively muddled up the shipping. Pre-Covid Chinese ships brought product, then loaded up their ships with U.S. goods to ship. Since Covid (and tariffs) they don't do that. (American Almonds comes to mind). When Trump makes a big deal out of the Panama Canal and China, well, there's a reason for that. 40% of our goods go through that canal. Supply and Demand. When farmers can't get people to pick the crops, there will be less food available to meet the demand. Question if there is no cheap labor to pick our food, but we are able to lower our deficit, will food prices remain the same? go up? or go lower? BTW, we don't a want a dollar too strong or our exports are negatively impacted. It's really all a bit of a balancing act. And when a news outlet pushes ONE reason why things are a certain way, know that that is because someone in power is going to benefit when we all start nodding our heads up and down, and let them do things that are in their interest.

[@KH-vw9yl]

Thank you for the daily dose of great information

[@damienbates]

What really pisses me off are the limits I can contribute to my retirement accounts. They need to be double or triple the current limits. I’m late to the game and have to put way more into my brokerage accounts. It’s clear they disincentivize any early retirement.

[@Dave-sw2dm]

The incentives are to start early. There are also catch up contributions when you are older.

[@briancarlisi2224]

Amazing how the Feds allow around 5x the amount allowed to be contributed to a 401k over that of IRAs….

[@daveschmarder-US1950]

I've thought that too. But I was able to save in invest for retirement with a brokerage account. I retired 18 years ago and have had a comfortable life without the stress of not having enough money. I never had a high paying job but I knew I had to put money away. I switched to Roth in 1998, and that has kept Uncle Sam out of my pockets too much.

[@jfitzpatrick6108]

If you could salt away money in a Roth IRA you would _not_, be financially tied to an employer and might keep changing jobs to increase your income. THAT'S WHY big corps lobbied Congress to keep limits on annual IRA contributions!

[@patricke170]

Yes it’s disgusting. They want want to encourage people to be entrepreneurs they want people to work for the big corporations who are their donor buddies.

[@daveschmarder-US1950]

@@patricke170 I had no problem saving outside of a retirement account. In my case that was a very good choice, but maybe not for everyone. I sure like that post tax money now that I'm retired.

[@thomaschew2191]

As a practical thing, few max out on any of the tax advantaged retirement accounts. Having said that, I personally do, I max out my 401K at the +50 feature but again very few do that. If you can that is great! But even in my situation I contribute to a taxable brokerage account also. Still, and I'm a small investing minnow, I worry about how much of my gains are going right back to the government from my pre-tax IRAs.

[@Rickmac22]

100% of those that worked until they died NEVER ran out of money in retirement! So, work forever, save everything, never take SS, oh, and give 1.5% to 2% to a financial counselor…

[@thystaljaard7607]

This much you need at 5% withdrawal rate. Then add 50% to that just in case... This appears to be advice from pro's. The 50% does wonderful things to withdrawal rate, longevity etc. But it boils down to guesswork.

[@susanneschmidt6159]

And have fun on your vacations .and take a few unpaid weeks for even more fun if your mgr allows it.

[@fromPhxToHouston]

Azul, I enjoy your channel And I've been watching most of your videos daily for a couple weeks. Regarding the average couple receiving $46000 in SS benefits that you cited in the article, Keep in mind the difference between average and medium, and how a few extremely wealthy outliers can skew that number a lot higher than what most people actually experience. Being a financial adviser I'm sure you already knew this but just missed highlighting it.

[@RyanBerich-u1w]

Still having the majority of their assets 18 years later and the magnitude of people not having enough to be comfortable in retirement are not necessarily contradictory. If a significant number of people retire with no retirement savings and 18 years later the still have nothing, it does not mean that they are comfortable. They could be barely surviving and the statements could still be true. Heck, they could have died of starvation and the statements could still be true. I think the Morning Star report indicates that retirement is tough without enough retirement savings and the availability of a 401(k) is critical for having enough. The other source indicates that those with savings, especially those that have a lot of savings are spending the interest and not the principal. It is likely that many of those that have saved, likely saved enough. Those without savings are going to struggle.

[@edh9045]

"Still having the majority of their assets 18 years later and the magnitude of people not having enough to be comfortable in retirement are not necessarily contradictory." I get your point. But I think the BlackRock study might also be looking at individuals whom retired in 2004 or 2005, might have a lot of their investment portfolio in broad market equity index funds, and be withdrawing 4% or less annually. If they did not panic during the '08-'09 or '20 recesssion's (i.e. they stayed fully invested), their portfolio balances most likely have held up well. Most people do not retire until they are 65. So 18 years in, they are over 80 years old, and they may have slowed their spending rate for a few years.

[@rogerc7972]

4o1k managers love living off of all these 401k plans. My wifes plan total was 90% of what she and her employer put in it! Through some huge gains over the years, the managers of these plans did well. And they still want to privatize our SS.

[@sg137iu89]

They want to privatize social security to end the security part of it for good. So the government is never on the hook for giving you anything in old age. If you run out of money or something happens oh well good luck.

[@kablah777]

Sounds like your wife had a crappy plan. My 401k and my wife’s plan have been doing incredible the past 10 years. Prior to that we worked in a place that didn’t offer one.

[@rogerc7972]

@@kablah777 That's great! The plan I mentioned ended 10 years ago, so it might have shined a bit more had the company not shut down. But what was made from it is still a blessing!

[@eatingcleaner]

Honestly, the differential in benefits per month between 67 and 70 is absolutely de minimus, at least according to my numbers when put into the SSA calculator. Are other people getting different outputs?

[@Oilfieldscout]

Mine is a little over $800 a month or $9,600 more a year. Guaranteed with inflation protection. I look at social security as longevity insurance. I look at it as income protection for my wife if/when she survives me.

[@eatingcleaner]

@ never mind - you are correct. I checked again. Waiting until 70 is a $900/mo difference.

[@JBoy340a]

I believe the study that says the "average American needs over 1.5 M" is skewed by people under 30 who say you need over $5 million to retire. All other older age groups say you need $1M or less.

[@thomaschew2191]

I think it also depends on your age when you start withdrawing from your retirement accounts. Someone that is frugal to some point and getting SS and no debt could do OK in a low cost of living area on the $20K per year from $500,000 in savings. It all comes down to how bad you want to visit the French Riveria per year.

[@MefenamicSoundwaves]

Love hearing from you daily pops but audio is kinda low recently just want to let you know thanks 🙏👍

[@cjhoward409]

Maybe as we’re all aging, our hearing is going 😂

[@JD-ir2sb]

I believe it should be 80% of your take-home pay instead of your gross pay. Pay roll taxes are no longer deducted, no more retirement contributions are taken out plus most retirees get favorable tax breaks on their retirement incomes depending on the state they live in I can assure you I live very comfortable on half my gross income after I retired. More so than when I was working.

[@kannermw]

The most accurate method is to take pre-retirement gross pay less taxes and all savings to determine current spend rate. Then add back new estimated tax rate plus medical costs. I bet incremental retirement medical and dental insurance cost increase offsets savings in FICA contributions + employer sponsored medical insurance.

[@JD-ir2sb]

Not unless you got free medical from your employer which would be another add back…as far as Medicare, again depending on state you should be able to get it with a medigap plan for around 325 a month which includes the mandatory 185 taken for plan B. The most out of pocket you would pay for the year is around $257 . Try to get an employer plan for 325 a month that has a MOOP of $257 for the year. Those days are long gone.

[@johnt890]

Hi and good video. Is it fair to say that many, if not most retirees have a steady pension? Could that account for the significant retainment of their wealth in retirement? In that case these computer projections may be true for those who do not have this benefit. Thank you.

[@stephencullum8255]

When I retired I ran the numbers on Social Security. Because my wife is 4 years older and did not have enough SS credits to get a benefit on her own it made a ton of sense to take it as early as possible. It would of took me till age 88 and my wife to age 92 to make back the money we would of forfeited by myself waiting to my full retirement age. Waiting longer made it worst. Run the data yourself. As you age your spending decreases. I am seeing that myself . Most of these simulations assume your spending goes up as you age. Reality is it actually goes down. A lot of the conventional wisdom is wrong.

[@CB-vg1wq]

Some of what you say is true. But in later retirement, you may spend more on prescriptions, or live in an assisted living, that can cost more than living in your own apt/house.

[@stephencullum8255]

@@CB-vg1wq If you own your home, you can cash that in to pay for nursing home expenses. That is what my Aunt did. Generally from my experience with relatives put in homes, within a year they have gone on to their reward. The prescription costs are a concern. But under new rules they cannot exceed 2000 dollars a year.

[@A_Dogs_Breakfast]

Azul, I've heard you say statistically, by 66.1 we will have some sort of health event that limits our mobility. Do you know if this factors in childhood issues which can pull the average down or something like... Of all people who live to a healthy 60 years, they will have an event by 66.1 on average.

[@dianediliberto1876]

Great video.

[@Patriciabanks5]

Nobody is asking the right questions. I'm worried about retirement and want to maximize my savings. I've tried various investments that didn't work out as I hoped, and now I'm unsure whether to invest in the stock market or index. Any recommendations would be appreciated.

[@scottarmstrong11]

The stock market is likely the best smart investment. However, if you are thinking of investing in the stock market and you are not well versed, its advisable to work with a financial advisor who is an expert to guide you through the process. this way you could make more profit with less risk

[@monicawill5]

True.. based on my personal experience working with an investment advisor, I currently have $485k in a well-diversified portfolio that has seen exponential growth. It's not just about having money to invest in stocks; you also need to be knowledgeable, persistent, and have the strength to hold on during market fluctuations

[@Johnlarry12]

That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?

[@monicawill5]

My CFA Carol Vivian Constable 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..

[@Johnlarry12]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@gustavolatobias2813]

I've said it before and I'll say it again....... People need to think outside the box and give themselves more options when it comes to retirement. The "American Dream" is now the American Nightmare. Retiring within the US can drain your resources VERY quickly. My wife and I are 53 years old and newly retired. It's partially about how much you save.....The other part is creating for yourself a continuous stream of income. Additionally, living somewhere where healthcare is TRULY a right and not a privilege. In the US, all it takes is one major medical event to have all your savings depleted. Look at your options of becoming expats. A few countries close to the US with great healthcare are Costa Rica, Panama, and yes , Mexico.....and at a mere fraction of the cost that you'd pay in the US. Step out of the false "comfort zone".....Do your research and you'll see that I'm speaking truthfully. Your lives can be healthier and happier if you explore other options. That's why my wife and I were able to retire very comfortably, early. Good luck to all of you.

[@TT-it2ic]

I am trying to understand "figure 1". The color code for the asset groups makes sense, but what do the buckets at the bottom represent( < 20, 20--50, etc) and as opposed to the vertical axis ( 0-40%" Can some one please clarify. So if I am in a medium wealth group yellow, then 100 being 35%?

[@glennet9613]

I interpret it as 15% of the yellow group have less than 20% of their assets remaining. If you add up all the same color bars you get 100%.

[@TT-it2ic]

@ Thank you so much!

[@SoUnDMaN831]

A little off topic here, but Azul needs to find a quiet place to record his videos 😂 The last 90 seconds were hard on my ears 😂

[@ItsEverythingElse]

Better hope SS is never cut.

[@zoner__]

Won't be

[@MrDave570]

I retired at 67 and am delaying SS to 70. I can't decide whether to live off bank money or off IRA until SS starts. And will do a Roth this year

[@tim71pos]

I don't know about your bank. But at my bank I compared the CDs and the savings accounts to the returns at Fidelity, and the advantage was with the money market accounts at Fidelity.

[@briandenison7608]

You've posted 14 videos in the last week. I don't think that's sustainable, pace yourself my friend! Great stuff tho.

[@Vanguard-c1u]

It's tempting to ask how much does Andrew Biggs have in his retirement plan. I decided that I could retire when a walking buddy and I matched our take home pay to our typical expenses. That included two assumptions: 1. We had paid for our kids college educations (kids today can't afford it unless they can enter "the Portel"). 2. We could use Social Security money to guard against inflation Thankfully, my kids are on their own, and I've been on SS for over ten years (although, thanks to Ronald Reagan, I pay a high income tax on my SS)....but, if the new administration in Washington lets the Social Security Trust Fund go broke...Azul, I may need a hand-out!

[@anstrengende]

I often hear statistics that mention the average out-of-pocket medical expenses for an American between the time they retire and the time they pass on is between $122K and $330K. I would like to see a video addressing this. I recently learned that my retired father still pays over $300/month into Medicare, which is what I am paying now as a wage-earning employee of a University. I never imagined that I would continue paying a high monthly fee for "health insurance" after my wage income ends. Given a required monthly expense and knowing there will be other as-needed medical expenses, it changes my outlook when watching the many "Can I retire with X dollars" videos.

[@davidperry2725]

Your dad is probably paying a monthly premium for Part B, a supplement (eg Plan G), and a drug plan. I'm 65 and those three items are over $300 for me. Check out The Retirement Nerds for great Medicare videos. Don’t forget, the university is probably paying $6-700 a month for your plan on top of what you're paying.

[@anstrengende]

@@davidperry2725 You are correct in that my father is paying for supplements to medicare, and you are also correct in that my employer is paying around $700/month for my health insurance in addition to my monthly payment. I was ignorant about the additional supplemental medicare expenses until a couple years ago. Additionally, I learned today that medicare comes with a rather large deductible with each hospital visit. I believe there are many, like me, who are or were ignorant of these additional expenses and believed that once you qualify for and obtain medicare, that you are taken care of, when in fact, one's medical expenses will go up (compared to our working lives) due to advanced age. So if I am able to retire with, say 650K, in actuality I will only have between 320K and 528K to spend on non-medical and I don't believe the stats include long-term care expenses either. It is rather depressing.

[@tombkk1322]

Plan G is super important to have if you can afford it!

[@kannermw]

I'm planning for the 20% SS haircut that needs to happen in less than 10 years. They should just eliminate all COLA adjustments during next 10+ years to push that insolvency date out. They should also reduce benefits for retirees who file before age 67 by an additional 2% per year (steeper growth rate for deferrment to 67) when filing between age 62-67. Alternatively base calculation on top 40 earning years instead of 35 to give greater incentive to work a few extra years. I'm 60, a full 7 years before FRA and believe more people need to be pulling the wagon paying in for longer period versus living the good life taking a ride while destroying the future of this country via insurmountable debt. I have no issue with people who retire early as long as they fund it with their own savings and sacrifice more of their SS entitlement. The current federal debt situation and future high inflation rate is what keeps me up at night and planning on working until 62 to reduce my financial risk. It is deluded mindset that many people over age 55 think there is magical money tree of government and believe they deserve such entitlements that are grossly under-funded. I am one of those individuals who has paid in the more and will get the least of my contributions back.

[@jayholiday256]

Funny how Morningstar uses scare tactics, but fails to suggest SPIA annuities which are great for many middle income people

[@scottjackson163]

I agree with you about annuities. I’m aware of the negatives and I’m not deterred. An annuity is the closest thing that most Americans can get to a pension.

[@natehighlander5227]

Not all 401k's are created equal. I use to invest in my 401k but after I watched a bunch of financial independence videos I looked into the 401k and found most of the expense ratios were above 1%. Even the state street fund that says it follows the SP500 is 0.68 expense ratio. Also my employer match is 4% of MY contribution! Yes 4% so if I contribute $200 per paycheck then my employer puts in $8 but not right away so it can compound. The employer contribution happens at the end of the year based off my total contribution. Basically the employer match is a complete joke. Ohh and in order to get the full 4% I have to contribute 8% of my paycheck because it is 50% of my contribution up to a max of 4%.. Also, ADP charges me a fee to manage the 401k of like $2.50 a month

[@HuFlungDung2]

Employer contribution might be 4% of your compensation, but not 4% of your contribution. More like 50% of your contribution would be commonplace. Depends on the wording, of course.

[@getitright321]

If you're not union then you're employer negotiates the pension fund. My union negotiated a 6% match that my employer contributes to every week. Does your company offer a Roth IRA? Or maybe you would be better off with a brokerage account.

[@kannermw]

Cumulative inflation rate over last 18 years was 50%. Thus, that rosy picture of having 80% of initial asset investment is grossly misleading because inflation is baked-in. In real dollars it is 80%/1.5 = 53%. As the principle investment base declines the rate of asset erosion increases if spending increases. If you retired at age 60 and started collecting SS at age 62 then you are at risk of running out of money before age 85. Also, in that study what percentage of retirees had pensions that now exist mostly for government workers and teachers.

[@EggrollsBaby]

I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.

[@Stanleee-8]

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.

[@JamesDinsdale-e6q]

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!

[@Jillyshrum]

@@JamesDinsdale-e6q Please can you leave the info of your investment advisor here? I’m in dire need for one.

[@JamesDinsdale-e6q]

My CFA ANNETTE MARIE HOLT 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..

[@kelvingates-b2y]

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

[@Very_Concerned-Citizen]

Looked more like 50% of the Medium Wealth, 45% of the Highest Wealth and about 40% of the Lowest Wealth individuals had > 80% of the assets they retired with after 18 years. Hard to be precise with no lines on the X axis of that chart. Interesting that ~50 of Lowest Wealth individuals have less than 50% of the assets they retired with.

[@leonie563]

Go rent off friends, turn your house & kids houses into a Family Office/Trust and live off the income and Interest on that income. Flip house/s as their price goes up

[@maoisn]

I always find these studies silly and slanted. What you need to retire depends a lot of your health and situation. I have known many people who retired just fine with $0 saved. And there are people who run out of money with millions saved. The answer is always, it depends.

[@atmuniverse]

Good point

[@jayhay1237]

"First you must live like no one else before you can live like no one else..." D.Ramsey. Or something like that? Meaning: if you do what everyone else does you will get what everyone else gets. Which is diabetes and obesity or dimensia and cancer. Or all four? Prioritize your health and your wealth will follow. Granted it is difficult to do with a corrupt health care industrial complex? That is your first clue: don't follow the beaten path. Take the high road. It's less crowded and the view is magnificent!

[@jfitzpatrick6108]

I like your videos, Azul. However, I take issue with your phrase, "The 'Youth' of our senior years". A more realistic phrase might be, "The waining 'Health' our senior years". There are phrases from the past which middle-age adults of today don't heed and of which young adults seem totally oblivious: • "The old, gray mare ain't what she used to be!" • It's later than you think; enjoy yourself while you're still 'in the pink'." _STATISTICALLY_ life is longer; health is NOT! It seems, to me, most people assume that _IF_ they live to 100, they'll be able to roller skate to their 100th birthday party!😮 To which Caribbean folks would say, "Not so the cat walks!" THE PURPOSE of "Retirement Savings" is to _LIVE_ while you _STILL_ _CAN_ . . . _not_:to win some local longevity contest.

[@RyanBerich-u1w]

@@jfitzpatrick6108 I suspect the youth of our senior years is intended to focus on having enough to enjoy the years between early retirement and 67 or so when health issues are likely to become an increasing factor. I hear him saying save enough and retire early enough and spend enough when you retire before you are too old to enjoy it. I think it is a great focus for the channel.

[@Gr8Incarnate]

Even if I make it to 65, I'm not sure how long I'll have before my retirement money runs out.

[@KD-nk3ht]

Prolly bout fo munt

[@Gr8Incarnate]

@@KD-nk3ht If that much

[@KsazDFW]

I have an interesting retirement situation. I am 60, my wife is 39 and we have 2 young children (ages 4 and 6). My wife is not currently working and I just retired! What net worth do you think I need to retire?

[@mattjwayad9639]

Audio.

[@JacqueScherrer]

So these numbers that retirees say they have saved and feel comfortable - Andrew Biggs article. Is this for an individual, or a household, couple? This survey is about actual retirees and how they “feel.” I wonder how that actually works out in the end. The way someone feels now may not be the actual reality if some major expense arises that wipes a person’s small nest egg out. Agreed a person doesn’t need to be a millionaire, but don’t think $250,000 would be a comfortable level of savings for a couple in a 30 year retirement. Sorry to be syndical.

[@jackb5708]

There's different agendas out there.

[@Lion_McLionhead]

Sideways markets like the last 3 years make lions wonder. 7% annual growth is not 10%. Housing inflation is not 3% but 5%.

[@Steven-f7v]

I always question these models. How many people die long before running out of money.

[@seaeagle758]

what i wonder about is all the people whose “savings’ are all in higher risk assets such as the s&p500 or even bitcoin. ive spoken to people, non US citizens or residents, in their 50s planning to retire early based on their “portfolio” all of which is in exactly these assets. what happens if these assets fall and how can a fall be avoided as the inevitable drawdowns start? the s&p500 wont be able to fund the whole world, but people are acting as if it will.

[@simonnicholls3650]

"Could"....Says all you need to know

[@719603]

Great video and thank you for coving the article. I have feeling financial institutions are using fear and uncertainty to push for large retirements. Large retirement accounts equal larger fees fee the company.

[@miketilley4523]

My life COULD End tomorrow as well

[@rationalthinker9181]

An American problem. The rest of the world goes retirement ? never heard of it.

[@knottybeachbunny2145]

Azul tells his audience to retire early to enjoy their early retirement-age years. That costs money. My in-laws have blown through over $1.5 million in 30 years of retirement doing just that. They spent their early retirement taking multiple cruises each year and then when one of them was incapacitated by health issues, they moved to a senior living center where meals and housekeeping is provided. They wouldn't have this retirement if they had not saved, saved, saved.

[@glennet9613]

We spent our early retirement years cycle touring in Europe, hiking and skiing and now I am 79 we are are still living much the same life with no health issues. I think the two are connected, the multiple cruises waited on hand and foot lifestyle isn’t conducive to good health. I don’t believe you need vast amounts of money to enjoy retirement.

[@knottybeachbunny2145]

@@glennet9613 Wrong. In-law was a daily swimmer. Macular degeneration was not caused by a few vacations. Plan for the worst and hope for the best.

[@johhh2356]

My broke ass went to starbucks last month and my card declined a capuccino💀 I spent my last money on book uncommon paths to wealth from cryptic lore and now atleast im getting some solid money

[@bcq6154]

I will continue to indulge in mass quanties of alcohol as I reside in my Coleman tent and enjoy the informative content that will set me free for all of enternity. WTF Chuck ?

[@wagon9082]

Good video

[@HungNguyen-se8dn]

I don't believe it. 😂

[@leecampbell2493]

I don’t know where you are, but all that background noise is very distracting for me at least

[@SniperLogic]

Azul seems to be able to find emergencies, or emergencies find him. 😂

[@ParisianThinker]

How does a 401K help you when the USD, our currency will become worthless? What's the difference if you saved in a IRA and in your brokerage account? $3.5M is fine no matter where it is located.

[@wuddayameen]

Looks like Chase Plaza...

[@billhammer9241]

I'm wondering if ten million dollars a month income is enough to retire on. Should I stay working?

[@chuck_in_socal]

You should be fine. If need be, your Dad can probably get you another $1M a year job serving on some foreign board.

[@peterbedford2610]

Coulda ,shoulda , woulda

[@rachelkieffer8707]

I have a question for you Azul, we plan to retire and stop working at 62 but not collect my husband's SS for a few years. Will his SS amount will keep growing as if he's worked or will it go down because he stopped working?

[@8356-4]

My understand is, if your husband stops working, his future Social Security benefits will no longer increase based on earnings since he is no longer contributing to his earnings record. However, his benefits will not decrease because Social Security calculates his benefit based on the highest 35 years of earnings.

[@stevedice5963]

every year you wait past 62 increases your benefit 8%. Hopefully he has 35 years of work

[@garzon53]

OK - but give him time so he can check MorningStar

[@8356-4]

According to AI, if I retire at 62 and invest at 3 percent, I come out ahead into my late 80s.

[@theresiamares3170]

When older people don’t retire, it prevents the upper level jobs from beginning available for younger people, thus making it more difficult for future generations. It stymies company growth because the really good people will go where there is upward mobility. So we, as seniors, need to be less selfish.

[@michaelt2974]

So glad we switched to Obamacare years ago. Individuals and businesses have save so much on healthcare over the years. That has really helped people save for retirement. Oh wait. We have been compelled to participate in a failed system that has destroyed healthcare. This will destroy most people’s retirement plan

[@RyanBerich-u1w]

The affordable care act was intended to be a step along the way not the ultimate solution. I negotiated the health benefits for my company for many years before the law changed and many after. Before the change the cost of insurance often went up 25% or more in a year. We had to scramble when one of our employees had a child with huge health costs. After the law changed, the plan cost changed 3 to5% per year. Most years we got a significant refund to distribute to employees. The Affordable Care Act was a huge improvement in healthcare availability and cost. We needed and still need more.

[@mh6790]

Ryan, you fail at math. Obamacare increased the cost of healthcare by 400-600% and significantly reduced the benefits. This is why insurance companies have had incredible profits every year since. But the absurdity of “we get a 2-3% refund” when paying 6x more shows that people don’t want to see reality.

[@JoeFromSomewhere2303]

@michael2974 interesting that you think obamacare "destroyed healthcare". Were you a big fan of health insurance companies denying people for pre-existing conditions?

[@Kayla11113]

Affordable Care act has saved millions of lives and saved people millions of dollars

[@jmurphy6767]

You’ve been forced to contribute a reasonable amount to a system to avoid having the rest of us cover your tab when you plan poorly or find some bad luck.

[@eliinthewolverinestate6729]

I agree. Currencies loose value. Money is a store of value. Real estate comes with taxes and maintenance. We build houses to cost you currencies every month. Stock loose 25% every 5-15 years and index fidelity's lost 15% in 08. Due to government money congress has been buying Gevo. Buy what stocks congress buys. Follow the insiders. Gold is a 10 year hold because premiums. My 401k wouldn't of gained any value with inflation and currency falling values. Cashed it out and bought gold. At least gold holds it value. I plan on working when I retire. Just not as hard or as much. Work on root ball tables and rustic furniture, my bee hives, and orchard. Looking forward to selling town house when kids graduate. And moving up north into cheap living off grid cottage. It cuts 70% of my bills. Utility bills always seem to go up.

[@ljackson67]

Lose, not loose

[@probuilder961]

Gibberish.

[@michaelgormley3430]

Your always so negative 😢

[@donaldcedar7574]

This guy is such a fear mongerer

[@garzon53]

Watch instead "Erin Talks Money "- no hyperbole no fear mongering just the facts ma'am and explained very well, easy to understand 😘

[@UKCG_2]

Actually, in this video, it is Azul who’s debunking Morningstar’s fear mongering.

[@roareward]

I agree it is click bait title, but that is the youtube way, but did you even watch the video? He basically said he wasn't buying the Morningstar report.

[@donaldcedar7574]

@@roareward nah I watched some of his other videos before seeing this one and I told KZbin to remove him from my feed 🤷