How $1,000,000 Can Be Enough For Retirement

[@sebastiaanthijn7982]

With my retirement funds of $980k, l've started exploring catch up contributions and automated my transfers to make saving easier

[@sebastiaanthijn7982]

The 1% of rich people think of how to invest their money to increase their wealth during the recession. While 99% of struggling hard-luck people think of how to survive without food and daily necessities in the recession and the coming hyperinflation

[@cherylhills3227]

I'd be retiring or working less in 8 years, and considering this financial recession, Im deciding to begin taking up skilled trades. I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, learn around $130K per year but nothing to show for it yet.

[@cherylhills3227]

I have been advised on that. Finding one who understands what I want and can work with me to achieve it is essential, although I'm yet to find one. Any recommendations, please?

[@sebastiaanthijn7982]

My CFA, Eric Paul Elmer, is a renowned figure in his field. I recommend researching his name online; you'll find all his credentials and everything you need to work with a reliable professional. With many years of experience, he is a valuable resource for anyone looking to navigate the financial market.

[@ClayneBanks]

It's heartening to hear about professionals like ERIC PAUL ELMER who can offer expert guidance when it's needed most. I've been contemplating the importance of finding a trusted advisor myself.

[@jerrycampbell-ut9yf]

My wife and I, who are 52 and 55 years old, are directors of our farm business and are beginning the process of preparing for retirement with the goal of depending on rental income. A live session to talk about online passive income strategies and reaching the $3 million goals of a comfortable retirement would be very appreciated.

[@Peterl4290]

The key factor is still maintaining a balance between income and expenses, regardless of whether you are generating income from investments or employment. It could be helpful to think about financial experts for a plan that fits your schedule.

[@larrypaul-cw9nk]

I concur entirely. projected debt-free state and projected 60-year retirement with approximately 1.2 million in non-retirement money stand in stark contrast to the relatively modest growth in my retirement accounts during the previous three years. The need of an investment advisor is emphasised, and finding a reliable expert requires careful investigation.

[@sabastinenoah]

Amazing! Are you able to provide information about your financial advisor? Investigating my choices would be helpful as I'm trying to improve my financial situation.

[@larrypaul-cw9nk]

Her name is Annette Christine Conte can't divulge much. Most likely, the internet should have her basic info, you can research if you like

[@sabastinenoah]

Interesting. I am on her site doing my due diligence. She seems proficient. I wrote her an email and scheduled a phone call.

[@camille_ann3]

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 Husband 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

[@Joeknowsball247]

This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha..

[@Arnold-ic9jg]

Interesting. 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..

[@Joeknowsball247]

I definitely share your sentiment about these firms. When I was starting out, I checked out a couple of freelance investors online, so you could do the same. I personally work with "Judith Lynn Staufer”, and she's is widely recognized for her proficiency and expertise in the financial market. With a comprehensive knowledge of portfolio diversification, she is acknowledged as an authority in this field...

[@mikefallert1306]

Thanks for sharing. i searched her full name and found her web instantly. After reviewing her credentials and conducting due diligence, i reached out to her.

[@HectorWhitney]

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.

[@ChristianKelv]

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.

[@PaulKatrina.]

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.

[@ScottKindle-bk3hx]

this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

[@PaulKatrina.]

My CFA ’Melissa Terri Swayne’ , 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.

[@JohnSmith060]

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.

[@Frankloredo-z9p]

I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.

[@Mongarnsamuel]

People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.

[@Soniajohn4]

Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.

[@Jamesdave-g6m]

This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?

[@Soniajohn4]

NICOLE ANASTASIA PLUMLEE is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.

[@Jamesdave-g6m]

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.

[@nadiaemilia9999]

Retirement planning means preparing today for your future life so that you continue to meet all your goals and dreams independently.

[@harrisonmccoy5788]

After all, we may have very specific ideas on how you want to spend your retired life.

[@denzelwilmington8107]

By planning in advance, you can define the path to achieve these life goals without any financial dependence.

[@harrypeters2428]

After retirement, you can plan for a regular income to cover your daily expenses

[@kennedyzouma6413]

Timothy Eric Meek an expert retirement planner helps if you want your current lifestyle to continue even after retirement.

[@colemanpark9749]

Honestly, since i and an expert retirement planner like Timothy Eric Meek started working together, I don’t depend on anyone in case of any financial emergencies or medical expenses.

[@JakeSpradlin2]

10% withdrawal rate is wayyy too much

[@stevengtv]

Then do 8 or less. Did you not listen to him?!

[@RobGoldy]

4% makes more sense IRL

[@zackarystewart9214]

​@@stevengtv it's going to need to be 5%. Every financial manager who runs the mutual funds that Ramsey says to buy says 5%

[@JakeSpradlin2]

@@stevengtv yes, even 8% is too much. 4%-5% max

[@JakeSpradlin2]

@@RobGoldy 100% agreed

[@RafaelGriggs]

Acquiring a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $160K for some time now, but my major challenge is not knowing the best entry and exit strategies. I would greatly appreciate any suggestions.

[@DominoDay4Live]

Buy a low cost, world, cap weighted index fund (NOT mutual) contribute monthly and never think about it again

[@lolitashaniel2342]

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

[@almoemason]

Just invest in a Mutual fund that primarily invests in the DOW or NASDAQ.

[@Uriah625]

I would recommend PFLT, if you want a stable stock with a 10% dividend. The price is pretty much unchanged since 2011.

[@Valmontst]

@@lolitashaniel2342SCAM ALERT!🚨

[@ambertraceyy]

4:35 10% withdrawal rate anually??? Thats wayyyyyy too high! You receive a return of 10%, not to live off 10% of your assets. Otherwise you become a struggling retiree. You dont want that.

[@aureliobjm]

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million.

[@kumarsingh001]

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 $31k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

[@gatesbev]

@@GGGsanchez6334 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.

[@gatesbev]

@@GGGsanchez6334 I might have heard this name somewhere, but can't really recall. I'll be following her up. Thank you. Do you know if she manages family funds too?

[@KathleenMcNe]

I agree. I would not withdraw that much.

[@seanhepner]

My wife and I, who are 52 and 55 years old, are directors of our farm business and are beginning the process of preparing for retirement with the goal of depending on rental income. A live session to talk about online passive income strategies and reaching the $3 million goals of a comfortable retirement would be very appreciated.

[@Peterl4290]

The key factor is still maintaining a balance between income and expenses, regardless of whether you are generating income from investments or employment. It could be helpful to think about financial experts for a plan that fits your schedule.

[@Mrshuster]

I concur entirely. projected debt-free state and projected 60-year retirement with approximately 1.2 million in non-retirement money stand in stark contrast to the relatively modest growth in my retirement accounts during the previous three years. The need of an investment advisor is emphasised, and finding a reliable expert requires careful investigation.

[@jerrycampbell-ut9yf]

Amazing! Are you able to provide information about your financial advisor? Investigating my choices would be helpful as I'm trying to improve my financial situation.

[@jerrycampbell-ut9yf]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

[@Valmontst]

@@MrshusterSCAM ALERT! 🚨🚨

[@elizabethyork590]

It's recommended to save at least 15% 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 15% 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. I retired with about $950k in my 401k.

[@IAMBETTERTHANYYOU]

People don't really know this, You need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving.

[@sommersalt88]

@@IAMBETTERTHANYYOU I completely agree; I am 66 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, i didn't achieve all this on my own, i did it with the help of a Financial advisor. Just do your due diligence to identify a fiduciary one and the rest is history.

[@MatthewVinson]

@@sommersalt88 this is exactly how i wish to get my finances coordinated ahead or retirement. Can you recommend the financial advisor you used to get ahead?

[@sommersalt88]

Do your due diligence, and be on the lookout for one with strategies to help your portfolio maintain an unwavering and progressive growth. "Jill Marie Carroll" is responsible for my portfolio success, and I believe she has the qualifications & expertise to meet your goals.

[@MatthewVinson]

@@sommersalt88 This is useful information; I copied her full name and pasted it into my browser; her website popped up immediately and her qualifications are excellent; thanks for sharing.

[@harryalexander6340]

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, a lot won’t have a house to retire with either.

[@RizkiTukijan]

I believe Opting for an investment advisor is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 45% since Q2.

[@biankabrodeur01]

Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?

[@roberttheodoregeorge]

Melissa Jean Talingdan, 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.

[@biankabrodeur01]

Thank you for this. I'll send her an email, and I hope I'm able to make something out of it.

[@Valmontst]

@@RizkiTukijanSCAM ALERT! 🚨🚨

[@stevensmiddlemass2072]

This is my fifth year after retirement. I’ve been following the 4% rule thing, but this isn’t really how hard I expected things to be. I still have about $460k outside funds in my IRA to invest in stocks. Pls how do I take advantage of the market turnaround?

[@Curbalnk]

now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.

[@slimdude2011]

If you've been retired for 5 years, then why are still investing your funds trying to make more money? Don't you have enough money to last you all throughout your retirement already? You don't want to get too greedy! Once a person is retired, they should want to keep as much gain as they possibly can, without remaining in high-risk portfolios, and taking a risk of losing large sums of money. You want to keep the money that you've saved all those many years, not lose it because in your retirement is when you are going to need it the most. If you have well over enough money for retirement, you shouldn't have to invest anymore. A person doesn't need to be filthy rich, with multi-millions and billions of dollars to retire, especially if you don't have any outstanding debts. If your house is paid for, you're living on easy street! Spend your money that you've worked hard for, enjoy the rest of your life with what you have and be happy because, you're not going to live forever, and you can't take it with you.

[@jonathanbaker2789]

Well, you experienced a huge rise in stock values during covid, so your portfolio reflected that. Lucky you!

[@MarionEllis-g5s]

Dividend stocks, SUN, PAA, PRU, IP, etc

[@mannyjeanpierre4062]

Jade made an error here. You dont live off the 10% of your assets you get a return of 10%. You live off less than thst which most advisors say should be about 4% so you never actually take from the principal.

[@jesusbowls]

She didn't make a mistake. This is what they actually advise. It's terrible advice.

[@bignew7136]

She still new, a rookie. I'm glad she's here to help. She'll get better under Dave's leadership 👍🏽

[@iamthomasgreenman]

1:20 They actually say they’re talking about living off the interest. You must have missed it by mistake.

[@iamthomasgreenman]

@@jesusbowls weird that you’re on this feed for people you think have terrible advice.. with that said you’re incorrect. The OP mistakenly missed the part where they specify living off the interest accrual at 1:20

[@jesusbowls]

@@iamthomasgreenman Right, this is also bad advice. In a stock portfolio, what is the "interest"? If dividends, then you're looking at 2-3%. If total return, then there will be years where the market is down and you can take out nothing.

[@ClementRusso2]

The market crash and high inflation are stressing me about retirement. Despite the challenges, I know investing is a long-term game, so I'm staying focused on the future.

[@VickyAlvy]

I agree. Despite early setbacks and losses in the market, I re-entered in February 2021 with guidance from a recommended investment advisor. Fast forward two years, and I've gained over $720k in profits.

[@antonnohr]

Wow, that's impressive! Could you provide more details?

[@antonnohr]

Thank goodness . I just found her on the web. She seems well experienced.

[@Valmontst]

@@VickyAlvySCAMMER! 🚨

[@Valmontst]

@@antonnohrSCAM! 🚨

[@EmilyEvelyn-90]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for...

[@SasaSchueller]

I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.

[@EmilyEvelyn-90]

@@SasaSchueller That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well

[@SasaSchueller]

@@EmilyEvelyn-90 My advisor is *MARGARET MOLLI ALVEY*

[@SasaSchueller]

You can look her up online

[@AlilatTiamiyu]

@@SasaSchueller The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?

[@DennisJack-km8ho]

Those of us who are planning to retire with less than a million dollars, in my opinion, ought to be concerned. I don't know how to increase the meager 450K I have in my Roth.

[@RuthEvelyn-rc3bg]

At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.

[@LuvmeRos]

It's unfortunate most people don't have such information, Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

[@albacus2400BC]

That is just amazing. I've attempted to employ a financial advisor by doing some research on my own, but it's somewhat daunting. Would you kindly refer the people you work with?

[@FrankPatrick-no8zo]

Thank you for the recommendation. I'll send her an email and I hope I'm able to connect with her.

[@JeffreyJohnson-ip4fy]

450K is a LOT of money! Keep going!

[@delsmith8140]

I think a big part of it is if you retire without a mortgage and car payments, that definitely helps.

[@TheFirstRealChewy]

That plus collect social security benefits at full retirement age or later.

[@sandrad801]

And no consumer debt.

[@elkhunter9244]

My real struggle is that in some markets (like the one I live in), the property taxes and insurance that remain even after your house is paid off continue to climb and it still feels like you have a never-ending house payment. In our area, this is roughly $500/mo and continues to climb, year over year. Having a paid off home is great but not necessarily all it is made out to be.

[@alanj9978]

750 here. And that's up at least 50% in the last 6 years. It's completely nuts.

[@debbiegallop9578]

600 per month here for me in South Florida. It's scary how fast it keeps rising.

[@thedopplereffect00]

That's why paying off low interest mortgages is dumb. Let inflation eat away at the principal

[@jon2141]

$6K a year is nothing, why are you worried about that? Even $30K a year is nothing when you're retired as long as you have saved your entire life. Obtaining $1 million in 40 years of just ROTH IRA contributions is not hard.

[@AmandaHugenkiss2915]

This is why retirees move away from these high cost areas. Think of it as a subscription, like to cable TV. Those high tax areas offer all kinds of services, especially good schools, parks, forest preserves and libraries. If you are not using those, why are you subscribed? No kids in school yet you're supporting a lavish school system? Got endless parks but you never go to them? It's like the 200 channel cable package yet you only watch four channels. You are paying for a bunch of stuff you don't use. Cancel your subscription and move somewhere cheap. But leave your leftist socialist blue politics behind. We left the Chicago western suburbs where we were paying $7K in taxes on a $250K house. Moved to NC, for the exact same $250K we bought a bigger house on exactly 4x the land and our taxes dropped to $2100. That prior house is now worth about $380K and the taxes are $8K. Current house is worth $425K+ and the taxes are $2100. Taxes alone gave us a hefty pay increase, plus our house is appreciating faster.

[@boredoreos]

I keep 250k in a HYSA and the rest in mutual funds. I live off the HYSA which yield a return of 5%, and when the market is up, I refill the savings account. When the market is down, I live off of the savings account which will last me 7 years at 40k a year.

[@AspiringInterpreter]

We're going to use the 4% rule, so hoping to aquire $2 million to live on $80k a year..10-12% is a bit optimistic

[@MrSquirrelsquasher]

Would be careful with that strategy it’s only based on a 30 year timeline

[@unclebenny]

Difficult to project health care needs in future. Someone gets cancer, you can wipe out most of your projections.

[@juniperfall]

I really wish they would dive into a deeper discussion on this topic but include the reality of medical as we get older. Medical is just unbelievably, outrageously expensive.

[@TheRosswise]

@@unclebenny That is why you need health insurance

[@juniperfall]

@@unclebenny I wholeheartedly agree with you. it’s not if, it’s when we get clobbered with medical because we all get sick.

[@Twitter_Posts]

Please don’t withdraw 10% annually Why? 4:35 it won’t last forever this way

[@costco_pizza]

@Bart Jenkins But Dave said 10% and he will NEVER admit when he is wrong. So 10% it is.

[@davidczesak4285]

He did not say withdraw 10% annually. He said live off the 10% interest and not touch the principal.

[@Twitter_Posts]

​@@davidczesak4285 I have not seen this video in a year so not entirely sure, but inflation will kill it over time even if principal is untouched. Goal for FIRE is to withdraw around 3% but depends on how long you need it for.

[@bamboobar-lt2xe]

Yourself won’t live forever either LOL….its all about the timing..

[@MegatPage]

Recently retired and unsure if my 401(k) and IRA will provide a stable future. i need an approach that will align with my risk tolerance and financial goals, i set aside $1m to achieve this. Do you suggest i get into stocks or buy a rental property?

[@StocksWolf752]

Research the list of dividend aristocrats and select six to ten companies from it. These are firms with a proven track record of paying dividends for 25 years or more. Additionally, it's recommended to consult a financial advisor to assist in establishing a robust and well-balanced portfolio.

[@DilaraKamelya]

Exactly, a good number of people discredit the effectiveness of financial advisor, but over the past 10years, I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure and that's fine by me.

[@lindabrooks6667]

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

[@DilaraKamelya]

Sonya lee Mitchell 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.

[@lolitashaniel2342]

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

[@northtexan95]

You can retire on a lot less than $1 million. The key thing to know is how much are your expenses as best as possible. That allows you to determine when to retire, when to take social security, and answer other retirement questions.

[@trebmaster]

You'd probably downsize your living situation if you retire on less than 1 million, or you'd need your house paid off by then (which Ramseyists should all do, but most of the population won't).

[@thebastardgift]

People on the cusp of retirement better act quickly given Social Security is considering raising the minimum age to 67 in order to receive it.

[@Sky1]

@@thebastardgift If raising minimum to 67 is good then 80 would be even better right? OMG!

[@thebastardgift]

@@Sky1, it is what it is so declares ugly math. Going forward the minimum age will continue to be raised and the amount received lowered but given most people cannot afford to buy a home thus forced to rent therefore never able to control their largest living expense, housing, they will also never be able to retire.

[@timahawk3220]

Please don’t think poverty level 1 million isn’t a lot now days. No offense but are u the type to think 100k is a lot of money?

[@ralphholiman7401]

Biggest way to make a million go farther? Move out of high areas and retire to low cost areas. We live on the gulf coast of Mississippi. I promise you we are living pretty well on retirement returns that would have us at the food bank in a lot of places in California.

[@hello9945]

What part of the Gulf Coast?

[@ralphholiman7401]

@@hello9945 Bay St. Louis, MS. The worst thing is, we keep coming in first or second in every retirement magazine talking about the best small coastal towns to retire in.

[@ralphholiman7401]

Look at this example. Say you are a Los Angeles County Deputy Sheriff making $250,000 a year, and your retirement is 50 per cent of that. Now, you are going to be pinching pennies to make it on $125,000 in Los Angeles. But, you would live quite well anywhere on the Mississippi Gulf Coast on that. And, probably a lot of other places as well.

[@thedopplereffect00]

Dave would rather you choose Roth to give your retirement income to California and New York

[@70qq]

bingo ... every time i hear someone say they need a million dollars or more to retire , i think to myself they need to sell their expensive house and move some where cheaper ...our combined SS will be about 3K per month and we are debt free and already live on less than that and were still working ...plus we have our investments

[@nicholaslamantia9597]

If you pull 4% out annually of a $1m retirement nest egg and then couple this with social security of one or two people. You could probably live a nice retirement on around $80k a year. If you have a paid for house it would be even better. This is a good goal.

[@AlexHunte98]

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

[@Kendrawebb-m2f]

Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks

[@AlexHunte98]

@@Kendrawebb-m2f However, if you do not have access to a professional like Suzanne Gladys Xander, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.

[@Kendrawebb-m2f]

@@AlexHunte98 Oh please I’d love that. Thanks!.

[@AlexHunte98]

@@Kendrawebb-m2f Suzanne Gladys Xander is her name .

[@AlexHunte98]

Lookup with her name on the webpage.

[@Casey-summer]

People grappling with the difficulty of meeting essential expenses often encounter this situation due to inadequate savings during their working years. The decisions taken in readiness for retirement carry extensive consequences, as demonstrated within my own family dynamics. Despite my wife and i having equal tenure in civil service, differing investment approaches yielded disparate results. Guided by a financial advisor, We are both retired and still earn monthly from our investments.

[@mellon-wrigley3]

Indeed, that's accurate. I'm currently in my mid-50s. My husband and I were on a similar path until a couple of years ago when I decided to shift my investments to his wealth manager. While I haven't quite caught up to his accumulated profits over the years, I'm at least earning more now. I'm generating income even before retirement, and my retirement fund has experienced remarkable growth compared to what it would have with just the 401(k). It's quite amusing.

[@lilyhershey1]

It's regrettable that many individuals lack access to such insights. I understand why people might become anxious. Insufficient information can indeed pose significant challenges. Personally, I've been able to generate over $25k passively simply by investing through an advisor, and the best part is, I don't need to exert much effort. Regardless of economic fluctuations, skilled wealth managers consistently deliver returns.

[@BaileyHoward101]

Could you guide me on how to get in touch with your advisor? My funds are being eroded by inflation, and I'm seeking a more lucrative investment strategy to effectively utilize them.

[@lilyhershey1]

"Gertrude Margaret Quinto" 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

[@Buffet-walton22]

Insightful... I was curious about her, so I looked her up online. I discovered her website, and I must say that she seems knowledgeable. I sent her an email outlining my goals. I appreciate you sharing.

[@Jack-kj1zu]

Studies show that you are better off taking 4%-6% annually. Anything more than that increases risk. So, 4%-6% combined with social security should be more than enough.

[@r3lativ3lyd3lib3r8]

There won't be SS by the time we retire 😂😂

[@Jack-kj1zu]

@@r3lativ3lyd3lib3r8 I was talking about right now, but yeah we are probably gonna be SOL 😂

[@blackworldtraveler3711]

@@r3lativ3lyd3lib3r8 If you think that prepare for it. I decided in high school to plan for retirement without social security and pension. Was my dad idea since I wanted to retire before 50 anyway. Now SS and two pensions is gravy and part of retirement income. Even though my pension was frozen and cut in half years ago I’m looking forward to additional $7k a month.

[@Zombiebeast1995]

I’m 28…. Social Security will be there it will just be half what it is now 😅 politicians can’t afford to get rid of it or people won’t vote for them. Although if they said “everyone under 35, sorry you get no benefit and no money back, but we will never take money for SS again”- I would be happy about that.

[@lartrak]

​@@Zombiebeast1995I'd plan for a 25% cut. That's basically the worst of the more plausible scenarios. I think it'll be less bad, but still cut in some manner. It's too popular amongst the electorate to get actually axed.

[@kathyprager4976]

My parents retired about 7 years ago with about $500,000. They left the crazy high cost state of CA and moved to SC. My Dad always told me the key to a secure retirement is to retire with ZERO debt, including NO MORTGAGE. When you have no debt and no mortgage your retirement will truly be the "golden years" per my Dad. Looking at my folks current situation I now know how right my Dad was! Their mo. income is about $5,000 which includes SS, dividends and a small pension. Think about this. If you had no debt how far would $5k/mo. go for you? With my folks income their $500K is essentially an emergency fund that keeps growing every year (yes, that will be my inheritance some day and will likely be well south of 7 figures). They have never had to withdraw a penny! Do they enjoy retirement? They take several week-long trips every year, they eat out when ever they want, they drive a nice can and live in a beautiful new home, etc., so yes, they have an amazing retirement. BTW, one important decision they made was to leave CA! My Dad is a smart dude! My Dad laughs when I tell him everyone on KZbin says you need a $1M or more to retire. The bottom line is to have NO DEBT and enough income to never have to rely on your savings and investments!

[@sandrad801]

Yes, your dad is very smart. My parents retired 20 years ago, w/$1m saved. No mortgage, fully paid for house, no debt, no car payment, 2 nice cars. The one mistake they made was not moving out of NY, the taxes on their house are insane. Now they are down to about $400k and worried about running out of money. I asked my father why he didn’t move to a state that was more retirement friendly, he said the healthcare in NY is the best. There are many places he could have moved to with great healthcare.

[@DarrenMalone253]

Exactly!!

[@MathewOliver486]

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing below the $100k mark and in the first 2 months, my portfolio was reading $234,800. Crazy right!, I decided to reinvest a huge percentage of my profit and it got more interesting.! For over a year we have been working together making consistent profit just bought my second home at the beginning of summer.

[@SandraGunther-o2t]

Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks

[@MathewOliver486]

@@SandraGunther-o2t However, if you do not have access to a professional like Suzanne Gladys Xander, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.

[@SandraGunther-o2t]

@@MathewOliver486 Oh please I’d love that. Thanks!.

[@MathewOliver486]

@@SandraGunther-o2t Suzanne Gladys Xander is her name .

[@MathewOliver486]

Lookup with her name on the webpage.

[@DietPizza1]

At this point, if you don’t always have an income, you are in for trouble. Things change too much, too often now

[@juniperfall]

I agree

[@MrPeach1]

our country hasn't been a fiat currency all that long. The reality of a fiat currency is that it's a house built on shifting sand. They just print more when they run low.

[@juniperfall]

@@MrPeach1 scary stuff

[@blackworldtraveler3711]

Started creating my own sources of retirement income in my teens.

[@Zombiebeast1995]

Having an “income” (I think you mean a job) actually has a lot of risk too, you are expecting that company to make it and keep you, if you invest you are betting that a bunch of companies, 4000+ just in the US, will make it. I’m not say quite your job, but investing is much safer in the long run than just working. One day you won’t be able to work, but your money doesn’t get tired. And if all fails, then nothing matters anyway. Hopefully you have water and food

[@michaelenyart5789]

This is insane. If you spend 10% of your retirement each year you will run out of money

[@mplslawnguy3389]

It's supposed to be 3-4%. 10% will drain everything.

[@BrandonPrive1432]

not in the hypothetical that the 10% you spend is the interest you make every year.

[@crashtestdummy1972]

Its not spending the actual retirement, but the interest it creates.

[@mplslawnguy3389]

@@crashtestdummy1972 Some years it’s negative interest, that’s why 4% is the generally accepted withdrawal rate. 3% if you retire early.

[@chloerodgers692]

depends on how long you are going to live.

[@davidsensing2664]

If you are debt free and have a low cost of living to make you happy…you can retire on less. Live off the eggs and not the chicken that laid them.

[@alinatamashevich3354]

Why did the chicken cross the road? To show a 'possum it could be done (armadillo) if you are in Texas.

[@Robertgriffinne]

what can I do? I have been disabled since 2009 and I am 58 years old at the verge of retirement. My portfoliio of $750k is down to $492k, How can I profit from the present market" , I mean I've heard of people making upto $250k in couple weeks during this crash and I'd like to know how.

[@BenjaminMcLeod815]

The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.

[@Natalieneptune469]

Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.

[@PhilipMurray251]

wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.

[@Natalieneptune469]

I really don't like making such recommendations, because everybody's situation is unique. But there are many freelance wealth managers you could check out. I have been working with "KATHRYN ALETHE HALL" for about four years now, and she's really, really good. If she meets your discretion, then you could go ahead with her. I endorse her.

[@BenjaminMcLeod815]

I just looked up "Kathryn Alethe Hall" online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals and scheduled a call.

[@ItsEricAZ]

Folks also need to keep in mind their expected Social Security checks which currently average $1800 for workers. That's $21,600 for a single, $43,200 for a couple and most it is tax free. That helps jump start the budget revenues needs.

[@AmandaHugenkiss2915]

Anyone who expects to get 10% returns each year is deluding themselves. That 10% is an average over decades. The moment you retire and depend on that money, I will 100% guarantee you, the market will drop and you will see negative to 2% returns for years. Your little timeline is what matters. You CANNOT have money in the market when you retire. It must be in a stable, income producing fund which will probably net you 2-3% per year with zero risk. Sure, you can put a little money in the market for growth and playtime. But don't put your whole $1M+ in there. You'll be greeting at Walmart to make ends meet.

[@alinatamashevich3354]

I am thinking a South American Llama farm!

[@mysticaltyger2009]

Actually, you typically need to have at least 50% in stocks if you want the money to last. Fixed income gets ravaged by inflation over time. Bond returns have trailed inflation most of the last 15 years.

[@businessaccount1752]

These guys are scary. If you bank on 12% it’s pure risk in retirement.

[@obie1coby]

I'm a financial advisor and thought the same thing. There are definitely safe ways to get 12% return

[@Valmontst]

Exactly!

[@Enimo17]

Average in 20 to 30 years....yes! but not before....the average between 1 to 10 years in stock gains are 5 to 7 % - minus capital gain tax - minus inflation!

[@jloop_2008]

If one million isnt enough to live off with 0 debt, something is a bit off. My wife and i make over 240k a year and we live off of 50k a year.

[@unclebenny]

Will most retire with no debt? What % of US earn $240K? Can most live off 20% of their income?

[@jloop_2008]

@Benjamin Hill it holds true no matter what bracket. If you are 18 years old and make 40k a year at McDonald's, you live off 20k with parents or family. If you're 30 and make 100k, don't buy a BMW and live off 40k. These days, people would rather look rich instead of actually being rich. Do you think we made 240k our whole lives? No. We sacrificed a lot when younger, and I have no pity for the people who complain about being broke when they are driving in the Mercedes and wearing Gucci.

[@itchyisvegeta]

Hit the nail on the head. It isn't the retiring on a million. Its 1 million with no debt

[@itchyisvegeta]

​@@unclebenny You must be new to Dave Ramsey if you are questioning his listeners having debt

[@unclebenny]

@@jloop_2008 I agree, but the advice is like a training plan for an elite athlete when most are weekend warriors.

[@briangasser973]

Assuming a 11.8% annual return is unrealistic. Past performance is no indication of future results. Your portfolio should grow in value similar to the growth rate of the US economy. Not even optimistic pension funds project a 12% return.

[@Fighter4Street]

I agree, as a trader, if I could get a guaranteed 12% return I would put all my money there and all it a day. It seems the 10 year S&P500 return is 9.6%, but who knows if that will continue. You won't really beat that return with anything over the long term and stay diversified.

[@wemustdissent]

How come when it comes to debt the Ramsey show assumes that the general audience are people who can't handle a credit card but when it comes to investments and retirement the general audience all has no debt and 12% annual returns?

[@anthonyisensee]

Two separate audiences, and they encourage the first group that can't handle a credit card to get those debts paid off before they become the second group that can start investing.

[@digitalpacs]

I haven't found any funds that pay out a 12% annual return. Most of mine is around 8%. I used one of his ELP advisors that he recommend for a while until I figured out he (Dave) got a kickback for the on-air recommendation and the advisor is paid on commissions from the mutual fund. The best I got with one of his ELP advisors is about 7% return with American Funds. I am now doing it all on my own with Vanguard and quite happy with no commissions and kickbacks.

[@wemustdissent]

@@digitalpacs 8% is much more realistic

[@RobGoldy]

Should probably use a 4% rate of return instead of 10%

[@austinduke8876]

You'd have to try really hard to only get 4%

[@peepod2727]

4% withdrawal*

[@TheRosswise]

@@austinduke8876 You limit it to 4% to negate the sequence of return risk.

[@RobGoldy]

@@austinduke8876 You take out 4% so that it continues growing over time instead of taking out all of the money

[@austinduke8876]

@@RobGoldy You said rate of return, not withdrawl.

[@jakejake7289]

Sequence of returns matter. If you retire at the start of a multi-year bear market and your portfolio declines say 50%, 8% annual withdrawal will kill your nest egg.

[@aarond23]

Is 1 million enough? YES! Is 8-10% withdrawal rate recommended under any circumstances? No! Please don't do that.

[@KathleenMcNe]

8%-10% is too much to withdraw.

[@bignew7136]

4-5% is advisable. Me, I'd add a side hustle or PT job to fight boredom

[@JJJobson]

I’m 51 with no debt with about 300k in investments. I’m no where near a million lol I’m not sure I will get there but I’m trying

[@Westcoastguy]

I'm 51 also. Keep maxing your investments if you can. The compounding is excellent the more your balance rises. To compare I have about $578k in 401k. About $35k in my TD Ameritrade account. And about $80k in crypto. Just keep investing. That balance will rise. Good luck.

[@Jumpman67]

With an average return on investment, your investments should double about every 7 years so I think you're right on track to retire at 65 if you want with 1.2 mil.

[@girlatendofrwjishot]

​@@Jumpman67 true but that's for stock investing. Most people close to retirement have only 30% or so of their portfolio in stocks (which in the current government spending environment I would say is a huge mistake)

[@marcopolo3109]

​@@Westcoastguythat's good, and did you saved a lot each month or it was based on market returns?

[@JJJobson]

@@Jumpman67 I hope so

[@robloxvids2233]

Dave always cites his studies when it helps his claim that literally every millionaire is a teacher, accountant, or engineer yet won't look at the studies done over Safe Withdrawal Rates.

[@calebmelton5989]

He's never said literally ever millionaire is one of those.

[@mysticaltyger2009]

@@calebmelton5989 Not literally, but he does play that up.

[@cacinemabuff]

where do you get 10% guaranteed returns?

[@alanm500]

With no debt, 1.4M should be plenty if you’re not living in San Fran or New York. Pulling 6% is 7k/mo plus your soc security.

[@sonofpait1310]

Here is the thing: While the average returns for 75 years have been 12%, how does that in any way guarantee that will be the average in the next 75? If the pandemic proved one thing, it's that our society is quite fragile and even volatile, and the amount of rapid change that occurs in no way guarantees this type of growth.

[@Dooguy]

Your spot on.......the way the world was for those 75 yrs is NOT what the world has been hell in the last 4 yrs!

[@thedopplereffect00]

Civil war and subsequent invasion by China in the next 20 years is a possibility

[@MikeNapoli1989]

It definitely can. I set up a retirement trust fund when I was 13 years old. Every 10 years it doubles and when I turn 60, it will be 1,000,000 dollars.

[@roburb73]

It's the ABSOLUTE worst advice ever! You should never tell people to withdraw 10% annually. If they do that they won't make it through 5 years of retirement. Follow Dave if you're in debt, but holy crap don't take his advice on investments.

[@stamps4fungin]

That's NOT what he said. Withdraw only interest, never touching the principal.

[@buckibanker]

@@stamps4fungin great then what do you withdraw when the market is down 10% for 2 years? Nothing? Back to beans and rice for you, and pray you don't get sick

[@MrJimmy3459]

Graduate HS before commenting

[@roburb73]

@@stamps4fungin , Exactly! She said withdraw the 10% interest and never touch the principal. Averages don't work that way, worst advice ever.

[@roburb73]

@@MrJimmy3459 🤣🤣🤣. Thanks, Mr. Grammar!

[@LesterHess-t1x]

I'm hoping to retire next year at 55. My goal next year is to be more serious and consistent with my investments I've been investing since I was 22. 2025 is going to be more serous for me investing consistently for the long term. starting to save for a house down payment. I want to invest more than $105k, but I'm not sure on how to mitigate risk.

[@wmwoods-l4f]

Its unclear which stocks and sectors will lead the market in the next uptrend. It is advisable to diversify while retaining 70-80% in secure investments. looking at your budget, you should consider financial advisory.

[@j.ottinger]

Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert

[@PaulaCarbonell-n7j]

Being heavily liquid, I'd rather not reinvent the wheel. Since this strategy works for you, how can I contact your advisor?

[@j.ottinger]

My financial advisor is Annette Marie Holt” I found her on a CNBC interview where she was featured and I reached out to her afterwards via her website

[@speak2Gary]

Thanks a lot for this recommendation. I just looked her up, and I have sent her an email. I hope she gets back to me soon.

[@unclebenny]

What is the probability of average to low inflation for the next 20 years given the current debt level and way US government spends money?

[@sconnell1791]

The inflation rate is way higher than 4% annually if we're using the older calculation method that did not put substitution of goods into the equation. The new calculation used since the 1980s hides how much the dollar is being devalued because they are basically cooking the books.

[@Ira06002]

I love you guys but an average RoR @ 10%? That's a bit lofty but I'll take it since I usually factor in 5%.

[@miken7629]

When I retired in 2012 I thought $1.5 million would be enough, I could pay my bills and continue to grow my savings, $1.5 million wasn't enough, need to increase my investment base to $2.5 million. I retired in 2012. In 2012 my monthly expenses (rent, food, utilities, insurance) was $1600 a month and now that exact same lifestyle, no debt, same apartment, same paid off truck, same monthly bills (rent, food, utilities, insurance) cost $3000 a month. $1600 a month rising 6% a year for 11 years = $3027, so average real inflation for last 11 years was 6%. Everybody planning for retirement needs to plan on 6% annual expense increases just to stay even.

[@Fighter4Street]

Yes, this is so true. The bad thing is I think things are getting worse as USA becomes more of a country which wants to give all its money away and where everyone doesn't work and is getting government money. Where everyone with a job seems to work for the government and gets insane pensions and pay. That all gets paid by inflation and we could be looking at 10% going forward.

[@chessmaster1115]

What age were you at when you retired in 2012? If your 60 that should me enough. If your talking 30 years old maybe there is potential it not enough.

[@tristan2332]

Id shoot for a lower withdrawl rate....easier to do if you have more cone retirement time. 4% or 5% is a good withdrawl rate.

[@mplslawnguy3389]

More like 3-4%.

[@tristan2332]

@mplslawnguy3389 yea maybe at start eventually I'd shift to 7%+ cause why not you can't take it with you.

[@mplslawnguy3389]

@@tristan2332 That's true, but end of life care can last for years and can bankrupt people. I'd rather not be a burden on my family. I don't want to spend it all, I want to leave something behind for my loved ones.

[@tristan2332]

@@mplslawnguy3389 Depends on what your avg investment return is if 10% and you stay under that principle should be fine.

[@ParkerBG]

Retire in the Philippines. Your money goes 3-4 times. You’ll have to give up a few luxuries but the trade offs can be life changing in a good way.

[@Isaac-ev3nq]

These days it looks more luxurious than the west, with their simpler and more balanced ways of living

[@LyricalTampon]

Nobody is drawing down (or making) 10% in retirement. I can't believe this clip exists. It really makes these two look terrible.

[@garybeeler1690]

Where are you going to get 10% interest?

[@Mithos103]

Do not withdraw 10 percent for the love of God. Please please please only live off 3-4%

[@amireallythatgrumpy6508]

If you're over 70, 5% is fine.

[@JC-21470]

You only need to know one thing to answer this question. "What are my expenses". If you know that number, you can easily determine how much you need at what rate to sustain yourself. Example: Don't forget two things, Social Security will pay a portion (Yes it will be there Dave) and you will spend LESS not more as you age.

[@cloudyblaze7916]

I think the people who 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.

[@NormanGhali]

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.

[@hildeman9533]

Exactly my solution too, even though I'm not retired. As a contractor with limited time to analyze investments, I've relied on a fiduciary for the past seven years to manage my portfolio. This strategy has helped me navigate market fluctuations effectively and also increased my porfolio by up to 300%. You might consider a similar approach.

[@bestofcountry7637]

That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with, please?

[@hildeman9533]

Marissa Lynn Babula is the licensed advisor I use. Just research the name. You’ll find necessary details to work with to set up an appointment.

[@albacus2400BC]

Thanks a lot for the recommendation. I'll send her an email and I hope I'm able to connect with her.

[@elliottmiller3282]

If you look at index fund returns, its 9.45% with SPY But if you follow the fama french factors it is a lot higher, maybe closer to 11-12%. Most likely Dave's mutual funds are approximating these factors.

[@DEBTFREEMIKE769]

Then you have social security which should be icing on the cake but not the whole cake.

[@ralphholiman7401]

Our social security (mine and my wife's isn't even half of our current retirement income flow (it's actually closer to about 2/5's of income). I would hate to be trying to live off just our social security.

[@juniperfall]

Which won’t exist much longer

[@emt52889]

​@@juniperfall yup, it's going bankrupt by 2025

[@jason41144]

@@juniperfallThey been claiming that for 25 years. Social Security is fine.

[@70qq]

@@juniperfall it wil never go away , because the govt. will never stop taking 12.4% from everyones paychecks ... and poor people would riot...theyll just raise the tax .25 or .5% (double that with the employer match) on working people and be good for another 50 years like theyve always done...its a simple fix and the only option , besides raising the age to get it , which theyve also done before...low income people are the main ones who need it and benefit from it ...thats why you get 90% of the first $1,115 of youre average monthly income over your career , but then only 32% of the next $5,606 of your average monthly income above the initial $1,115....if you never made much , SS seems like the lottery

[@chloerodgers692]

I’m worth about 2 million…no debt…own my home…healthy…..62 years old. Portfolio well balanced in mostly stable funds, non-aggressive…..my biggest worry is to make sure I have enough to pay for any medical/home care/nursing care, etc. as I didn’t have children.

[@joeplem5329]

Depends on if you live well within your means or not. I can live on 30k with ease but most people won't go to that extreme. Some are okay working their lives away 🙄

[@summerforever6736]

exactly

[@getinthespace7715]

$1 million buys 30% less than it did just a few years ago. Based on what politicians are doing... I'm targeting $3-5 million to retire in 10-15 years.

[@jamesthompson1259]

I think generalities can be specious. Take account of all the factors you know you’ll encounter. Personally, retirement as an end goal may leave you uninspired. With a purpose I think you’ll prosper at least

[@sasyaharry4046]

The average dividend yield is 2%. Where are you getting this 10% from?

[@RusskiCommieBot]

Variable change. The average inflation in the past 3 years is over 30%. You must account for variable change Dave.

[@unclebenny]

Did you just watch 21?

[@TheRosswise]

Maybe in Russia it is that high. In the states it is more like 5-6%

[@amireallythatgrumpy6508]

There was very little inflation prior to September 2021. Your 30% figure may be the average for the last 21 months but not the last 36

[@VanilAJ7813]

Where do you get 10 percent off principle ?savings accounts?

[@Philippinesbound42]

So many things wrong with his math. First. 11 percent stock returns not guaranteed. Second someone in retirement is not going to be 100 percent stocks. A 3 or 4 withdrawal rate is a safe withdrawal rate

[@droptozro]

Dave started his company in the year 1992. 1992: $1,000,000 After 30 years of inflation 2023: $2,300,000 Is $1 million enough? Sure, but it can only buy about 40% of what it did 30 years ago.

[@brianmcg321]

This is completely irrelevant. Is it enough NOW? For me it is. Add social security and I will be leaving my kids a ton of money. I don’t see how I can spend it all with my lifestyle.

[@hmsdefender408]

Even less than that, gold price was 290/oz in 2000 and almost 10 times currently, I only believe in gold value.

[@droptozro]

@@brianmcg321 "This is completely irrelevant" Maybe for you since you're retiring now, not us who are retiring in 30 more years and SS is gone. When I retire fully in a little less than 30 years it'll be $4 million or more. It's not irrelevant.

[@circrna]

That is wrong. Your money would double evet 7 years if you put it in SP500. In 31 years, it should double 4.7 times. Thus 2^4.7 * 1M= ~26 Million dollars. Your lose from inflation is insignificant.

[@droptozro]

@@circrna If he already has $1 million, that's different than us still at $100k and a paid off house now 27 years til official retirement. It would put us around $1.5-$2 million conservative guesstimate around 65 if market's not in a downturn then. Inflation in the last 3-4 years just decimated my earnings gain. Don't see how it won't get worse either. Again, irrelevant. How does this not apply to say $1 million in 1992 is different than $1 million in 2024?

[@captainviper3888]

Can someone explain something. If the dividend yield isn't 10% annually, in order to live on 10% estimated annual investing returns, I will have to sell (appreciated) stock....at some point I will end up with no stocks? How can you perpetually live on this?

[@mplslawnguy3389]

10% is insane. Do not listen to these people. That's wrong. Investing isn't this show's bread and butter. Horrible advice.

[@richardprice4839]

Withdraw 4% of your nest egg per year, not 8, 10, or 12. Easy way is divide your savings by 25, or multiply how much you need to live on by 25, and thats about how much you need if you're not gonna work again. I have supervisors and bosses who have this way of thinking, "I'm just gonna make 20% a year in retirement" mentality 😒

[@Peoriahiker]

A few questions. What if the market goes down the first two years of retirement? Example, a 20% decline in portfolio plus 8%, then your $1M after one year, is down to around $720K. Dave, I love your show and you are the best at getting people out of debt but not sure about your investment advice. Not trying to be a problem, however, just because you disagree with someone doesn’t make them an idiot or moron. If I start at 4% in early years, I can always draw more; if the other way around, I’m is trouble

[@accordio321]

I would like to see Dave’s market return statistics with the 1990’s removed. Lets see what it is then…

[@bobackerman54]

Should we not use the same time frame to compare inflation and stock returns ??? It seems that one affects the other which would indicate we should ...

[@MrPeach1]

our dollar is losing purchase power so fast no one is ever going to feel like they can retire.

[@blackworldtraveler3711]

I wouldn't say "no one". Retired debt free at 49 in 2020. No issues. More into planning and being proactive than feelings. Not concerned about purchasing power or inflation. It's not like I need to buy a home or new car every year,raise kids,pay alimony/child support,buy junk,shopaholic,etc....and no reason to get in debt. Past 18 months I was in New Zealand/Cooks for a few weeks,all summer in Switzerland(visited UK,Germany,Austria,Italy,and France),several trips to Florida through the year,month of October and February in Brazil,and Twice to Hawaii.... but I fly free globally on American any class and 90% discount on other domestic and foreign airlines. Heck I fill the tank of my car every 12-18 months. Because of well stocked pantry and deep freezer I spent about $600 for groceries last year. My Roth 401k and Roth/pretax rollover IRAs close to two million. Had to drop my annual income from $90k to $45k last year because it was more than needed. Managed to pay zero taxes for 2021 and 2022.

[@MrPeach1]

@@blackworldtraveler3711 I get it. fixed income sucks.

[@blackworldtraveler3711]

@@MrPeach1 Wouldn't know. Only debt I ever had was nine year mortgage. Just like when I was working at $160k/yr I only needed $2k a month to live on being debt free and home paid off in 2008. Now at early retirement it's much better to adjust my income range anyway I want as needed between $35k/yr to $130k/yr and stay in 0-12% tax bracket and below IRMAA without my 401k and rollover IRAs. Too young to use them anyway. Have 15 years before I even qualify for social security. No hurry.

[@thebastardgift]

I believe we have reached the point seeing people die on the job because they can't afford to retire will be common.

[@Zombiebeast1995]

@@thebastardgift it has more to do with them not planning for retirement than anything else. We started learning and planning for Retirement at age 18, couldn’t really implement much of that knowledge till 24 though and are on track to have $2.2 million + by age 57, with a 30% pension on top of that and SS on top of that later on. When I run my retirement plans I don’t even include the pension or SS, just to be safe.

[@Findingariel]

What the "average" has been for inflation and/or stock market over the last "75 years" doesn't factor in when you're 65 now, retiring and depend on what the "averages" will be for the NEXT 20+ years GOING FORWARD. A 65 year old retiree cannot rely on past averages if they want to live off their savings/investments dividend producing income NOW and 20+ years into the future. What happens NOW and the next 20+ years going forward is basically an unknown. I can't rely on the "past 75 years" when I'm looking 20+ years into the future and worried if the principal will be used and drawn down and ultimately run out during retirement.

[@Raniyanhunter]

I just turned 47 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 55. How best do I maximize my savings of over $200k

[@garnold-l5p]

Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.

[@Mlanderos-t9e]

Many people often underestimate the effectiveness of a financial adviser in planning for retirement. Over the past 5 years, my FA has consistently restructured and diversified my portfolio and expenses, resulting in over $1 million in gains. While it might not seem like a huge amount, retirement now feels within reach.

[@Anessa-gibson]

Hello, I'm interested in trying this out. Who is your FA, I'm gasping for breath. Have been doing things myself but it's clearly not working

[@Mlanderos-t9e]

My FA, Judith Lynn Staufer, is a renowned figure in her field. I recommend researching her name online; you’ll find all her credentials and everything you need to work with a reliable professional. With many years of experience, she is a valuable resource for anyone looking to navigate the financial market.

[@Anessa-gibson]

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.

[@Fentywappp3]

If you have to ask yourself if it’s enough it ain’t enough. A million to someone in the Midwest is a rich retirement

[@lmelior]

This episode is prime proof that while the Ramsey plan is great for getting out of debt, you need to go elsewhere for financial advice outside of that. Dave's whole rant about stupid financial articles assuming things are perfect and consistent apply PRECISELY to his advice to pull out average expected returns minus average inflation. That is DISASTROUS advice. Even the imperfect 4% rule is leagues better and vastly simpler. I normally love Jade, but "live off the interest" is what financially illiterate people say when they talk about winning the lottery and putting money in a savings account. I know that because my family said it, too. Interest never even keeps up with inflation, let alone grows your money. There are lots of good, free resources on retirement withdrawal strategies, including adaptive strategies where you withdraw more on up years and less on down years, thus substantially reducing the chances of running out of money. For example, there's the "guardrails" method from Guyton and Klinger. There's a good youtube video on it by Next Level Life along with articles across financial media like CNBC.

[@yaykruser]

What if you gain minus 50% and planed on living off 8%? Now you suddenly sell 16% of your portfolio per year...

[@jaghad]

What are people spending their money on? I just don't get it. I spend maybe $1200 a month on everything. Everything!! I have a house paid off, a car, a motorcycle. I poke around in our garden and go on some trips every year. With that the total would be a maximum of $2000/month. Is everyone drivning a Ferrari and live in a big ass house that isn't paid off, or what is going on?

[@alanm500]

Almost no one is debt free. They’ve all got 3000 mortgages and 900 car payments and the latest iPhones. Then they whine why they have no money or retirement.

[@YourrCristianoRonaldo]

We all are much greedy we cant be happy . If we have like 400k-1million its enough for retirement forever for a good life ❤

[@JoeyBarb87]

I love how people have real financial questions and they’re asking radio hosts. Would you go to a barber for surgery?

[@bradk7653]

Barbers were often the surgeons in the west. We survived just fine then. Any they were much cheaper.

[@robertmillikan600]

His investment advice is very dangerous and Jade is clueless.

[@thepero2876]

How do you get 10% per year for Sure?

[@patriotdrone9566]

When you have as much money as Dave, you don't need to worry or even be informed about rate of returns and retirement withdrawals. Dave is spouting incorrect info to this dude.

[@randocrypto1678]

The Ramsey show is so wrong about this. Yes, your investment will grow by 10% per year on average if invested in good mutual funds. But you cannot safely withdraw 10%. The industry standard safe withdrawal rate is 4-5%. That’s a far cry from 10. If you withdraw 10% every year, you’ll run out of money eventually due to bad years.

[@WookieSenshi]

I wouod be careful assuming such a high withdrawal rate. I would be conservative and assume a 3%-4% safe withdrawal rate.

[@mle011]

I tried telling my parents this, but my mom was shocked I suggested basically leaving $1 million in the bank when she dies. She doesn’t want to leave anything and wants to spend all her money while she’s still alive. 😳

[@OmitsBagels]

so you want her money?

[@markochipschips5518]

Certainly you jest....

[@cutehumor]

I tell my kids. daddy and mommy are rich. you are poor 😂

[@70qq]

its their money and they should spend it all , as long as they dont go broke before death

[@chrisg.298]

I always tell my parents that I am set and that they don’t need to leave me anything. They should enjoy what they have. I don’t want them to run out of money though!😊

[@sallylewis5332]

Don’t forget the $1,000-1,500 per month health insurance premium ($12,000-18,000 per YEAR) for the next 9 years until you can get Medicare. (If Medicare is still solvent).

[@jasondespain1]

If someone followed this advice in 2000, they’d run out of all of their money by 2011. Those math people know what they’re talking about.

[@alinatamashevich3354]

Not if you die one day after you retire!

[@andreawales1938]

Dave’s video talks about living on the interest; he doesn’t advocate touching the principle.

[@jasondespain1]

@@andreawales1938 he says take out 8% out then adjust for inflation (4%) each year. That’s 8% on the starting amount. Obviously if you take only interest out, you’re fine. But nobody does that. What about in a -30% year, what interest is there???? He’s saying you start with 8% much like the 4% rule and then adjust for inflation each year. So on $1,000,000, you’d get 80,000 in the first year and year 2 if inflation is 3%, you’d take $82,400 no matter what. Doesn’t matter if your portfolio has dropped by 30% to $700,000, you’re still taking over $80,000 out which is now almost 12% of your portfolio. Math is math and Dave likes to think volatility doesn’t exist.

[@outdoorsnevada4138]

Truth be told, even 400-500k can be enough! Dependent where you live and if you have a paid off home.

[@justinshearer8180]

A million-dollar portfolio in the year two thousand with the 10% draw would have lasted 10 years this is why all the experts have the 4% rule

[@thedopplereffect00]

And balance out with bonds! They did all right from 2000-2010.

[@jaynelson8304]

Sequence of returns. Firecalc has a calculator that goes back to the beginning of the New York Stock Exchange. If you withdraw 7% for a 25 year retirement your odds of your money surviving you is 49.2%. Failure over half the time is not what I picture for a happy retirement.

[@mplslawnguy3389]

Exactly, a lot of folks are now recommending 3%. For years 4% was sort of the standard withdrawal rate, but with rising costs and longer lives, folks may want to consider a more conservative 3%.