Their Mortgage is $44,000?!?! | Millennial Real Life Budget Review Ep. 15

[@Greggsberdard]

My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.

[@VictorBiggerstaff]

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.

[@grego6278]

I'll suggest you create a diversification strategy because building a good financial-portfolio has been more complex since covid. Recently my colleague advised me to hire an advisor, surprisingly I have accrued over $120K under the guidance of my coach during this crash. She figured out Defensive strategies to protect my portfolio and make profit from this roller coaster market.

[@crystalcassandra5597]

​ @grego6278 I need advice on how to rebuild my portfolio and develop more successful tactics. Where can I find this advisor?

[@grego6278]

It's best you do your due diligence, I have my portfolio overseen by “ Laurel Dell Sroufe ” and her qualifications speak for itself. Most likely, the internet is where to find basic info, she has a noticeable page for consulting.

[@tammytee6179]

My take away from your video is that sometimes we have to rearrange out allocations to hit those short term goals faster, like building up our emergency fund! Thank you!!

[@jshad5393]

Awesome video!! There is a type of 401k that is roth based that I actually use, it was an option with my employer, so all my contributions are after taxes but still taken out automatically from my paycheck. May want to double check in regards to what type of 401k they have.

[@potatoesandgravy7021]

Imho, I would never stop putting into a Roth IRA, thats time/contributions you cant make up. Instead, id be slashing discretionary spending and build up the emergency fund that way. Just my $.02 😊

[@alyssaphillips1412]

$44000 for their home!? My minimum down payment was $38000! 😱

[@amielawson8344]

CIT Bank has a HYSA that pays 5.05%. That would be a great option for EF.

[@catgodfrey6451]

😊❤ definitely need to reallocate some funds.

[@jaclynroyer8498]

That makes sense for dog needs :)

[@shilohmorris5527]

Do HYSA's pay interest every month or every year?

[@Username_CC_]

Monthly. That interest is also taxed at your income rate at the end of the year.

[@freedomworks3976]

Everyone that complains about the cost of a home simply needs to move away from the coasts , prices drop dramatically the further you get from the oceans. ❤

[@rafffer3951]

If I lived in that area i would own 10 plus homes

[@Squintillions]

Dog (wants) $200. 🤨 Either stick that under dog (needs) because it is what you have to do to feed and maintain the health and care of your dog(s)or cut it down drastically or all together. The dog (wants) got $200 and the emergency fund was only $50? Yikes.

[@rafffer3951]

They’re wasting money