How Does Retirement Change Once You Save $300k/$650k/$2M?

[@LesterHess-t1x]

Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?

[@wmwoods-l4f]

as most investing-related questions, the answer is, it depends my best suggestion is to consider advisory management.

[@j.ottinger]

Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.

[@karitanaw]

this is huge! mind if I look up the adviser that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future

[@j.ottinger]

I've shuffled through a few advisors in the past, but settled with Annette Marie Holt her service is exemplary. I'd suggest you research her further on your browser, sure you'll find her basic info.

[@j.ottinger]

Annette Marie Holt is the licensed advisor i make use of

[@richdewitt760]

Julia, You are a gifted communicator. Complex topics are difficult to disseminate yet you do this effortlessly. Rich

[@RetirewithJulia]

Thank you as always, Rich!😃

[@louisahernandez]

I mean, hitting $300k, $650k, or even $2 million brings up different decisions and potential challenges

[@Kattyol1]

Exactly. And I feel like once you reach certain milestones, you start to see new problems to navigate. I’ve heard that people sometimes get overconfident or make risky investments, thinking they’re set for life when, really, they should still be cautious

[@Andres_853]

That’s why solid advice is critical. I was reading about Eric Paul Elmer, the advisor who’s worked with everyone from billionaires to regular folks. He’s big on helping clients build wealth without losing it to impulse decisions or high-risk moves. He advises against going all-in on something that could undermine everything you’ve saved.

[@Sanchyfab]

Right, and I like that he’s not just about getting rich fast. Even if you’ve got $2 million, it’s about making that money work in a way that’s steady and sustainable. He’s known for looking at your whole picture-not just telling you to throw it into stocks or some trendy investment

[@Andres_853]

Yeah, and a lot of people don’t realize that each savings level comes with its own potential pitfalls. Like, at $300k, you’re still balancing basic needs and future growth. But if you hit $650k, maybe you have more options, but you can’t start spending like it’s endless. It still has to last you a good long while.

[@Bigwilli123]

Eric Paul Elmer’s advice is more about protecting what you have while making careful, calculated moves to grow it further. He’s known for guiding people through complex situations, and he emphasizes the importance of planning over impulse.

[@jimgeneva2464]

Thank you for the presentation. You speak clearly and articulate well, but at a moderate to fast rate. There is very good value here so I will slow down the play rate a bit to stream this. 😀

[@RetirewithJulia]

Thanks so much!😃

[@DavidMJenkins]

The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow the 100k I have saved seperately outside retirement access which of course had depleted over the years?

[@Kecia-f6k]

Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income

[@EstebanTiekstra]

I completely agree; I am in my mid 40s, approaching retirement, and have approximately over 2million dollars 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, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.

[@Florencewalter-o4s]

This is exactly how i wish to get my finances coordinated ahead of retirement. Can you recommend the financial advisor you used to get ahead?

[@EstebanTiekstra]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Kathie Daisy Bosco’’ for about three years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@Florencewalter-o4s]

I appreciate this. After curiously searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get.

[@DK-et6lm]

great info Julia. CA retiree here...

[@ujdo]

If you're not making money, you're spending money.

[@TheQUBANQT]

Insightful thanks for sharing your knowledge with us.

[@RetirewithJulia]

Thanks so much for watching!

[@rjb7260]

Great topic nice video thanks Julia!

[@RetirewithJulia]

Thank you for watching!

[@lindsaynewell6319]

I’ve seen KZbin advisors use a wide range of target Monte Carlo scores. I’m curious why you choose 85% or better as the ideal score.

[@nirui467]

I would like to understand as well

[@jdollar5852]

To get her clients to keep working and investing with her. More money equals more commissions. I could stress test a portfolio of $50 million and make it look like you need more money to retire by manipulating the numbers.

[@Jim-mz1cf]

I've been running some numbers on a possible early retirement. Maybe as early as 52, probably closer to 58. The most interesting part of your video for me was the spending reductions you quoted to get to higher levels of confidence. Although it isn't the same thing, I have been exploring a possible source of side income in retirement where I could easily make a few thousand dollars per year. However, for the first decade of retirement I could increase that to 5 up to even 20k if needed. Based on your down market discussion, it seems like even a modest side income like that could provide a meaningful amount of protection against an early retirement down market.

[@cterrell4861]

Jim, I did this at 53. I make anywhere from a few hundred to a few thousand per month with side gigs that I choose to take on. Doing that pays for an expensive golf habit that I can afford more easily in early retirement. Importantly, I can be very happy without golf - and was when I quit the game for several years to focus on getting to early retirement. Golf is 100% discretionary. There are lots of inexpensive hobbies. Having said that, I shot par for the first time in my life a few months ago. 😉 I maintain a spreadsheet that shows our income under several different working scenarios, from no work at all, all the way to my working full time again, to provide clarity here. I will end on this note. You will NEVER get those years between 52-58 back, AND they will be the healthiest years of your remaining life. If you can retire early, financially responsibly, and have a clear picture of what you are retiring TO, I highly recommend it. There are lots of FIRE resources worth exploring to get a better idea. I spent literally years preparing for the day I would leave work, not just on a financial level (the prerequisite of course), but also with a huge focus on what life might look like in retirement. Zero regrets.

[@G.R.CrowderJr.]

I’d like to know how Joe (in the first example) despite his extremely modest net worth is drawing $40,000 in SS? I’ve been making $160,000 annually and my FIA is only $3300 each month. 🤷🏼‍♂️

[@o4ktr33123]

He had a relatively high employment income and spent most of it.

[@andreasdekunffy6393]

Your videos should include "pensions" A pension of $35K or $70K per year is worth$350K-$1M and seriously add flexibility to your 401K and ROTH/ROTH-IRA savings and withdrawals.

[@carlos-dt6ni]

Another great video Julia!

[@HappyFriday-g7q]

Thanks for the great video. I would consider selling the house to cover long-term care if necessary.

[@RetirewithJulia]

Absolutely. A very common strategy. Thanks for watching!

[@philochristos]

This is all great information. I'm trying to retire early, and my biggest concern is how expensive medical costs are going to get as my health deteriorates. I want to retire early enough to squeeze some enjoyment out of life before my health prevents it, but there are risks.

[@RetirewithJulia]

Health insurance is the toughest part of retiring early. Gotta make sure you can afford private, unless you can get it elsewhere (through a spouse, VA, retiree plan).

[@steveshow-tos5394]

I’ve stuck with a job, in large part, due to the health care it offers in retirement. But I’m only 43 and have 17-19 years to go until retirement, so I’ve considered jumping ship for a decade to make more in the private sector, then coming back for my last 7-9 years to lock in that retirement health care benefit.

[@sandylamba2546]

Great video!

[@RetirewithJulia]

Thank you for watching!

[@Faben202]

Wow, I would’ve thought that $2M-3M in net worth would be the starting point of being considered upper-middle class, and rich or wealthy would start at $5M+. Maybe it depends on location.

[@RetirewithJulia]

Remember, this is the median, not the average. Thanks for watching!😃

[@Markrtsoon]

@faben202 I said the same thing. We have more than 3 million investment plus paid off house, zero debt, and we live in the low cost region of US. W are collecting two pensions and will have high SS. Guess what, I am still working to cover the insurance and trying to build up the portfolio a little more. We don't consider ourselves rich by any means. We still watch every penny we spend and have concerns of outlive our $.

[@wesm3848]

@@Markrtsoon Agree with you, the concept of "high net worth" or "rich/wealthy" is a mixed up statement. I have over $3.5 million in investments (IRA and brokerage) and a net worth over $4 million. Two new cars with no loans, own my home and live in the Midwest. Age 67, single and no longer working holding off on SS maybe until age 70, I have some other sources of income. I am in no way rich and I continue to consider my spending options and worry about having enough. The benchmark used by financial planners for middle class or upper middle class give a false sense of security in my opinion. Most financial planners are clueless about wealth and what it really takes to make a financially secure retirement. I do enjoy Julia's ideas. By my way of thinking, secure is a net worth in excess of 5 to 6 million with at least 4 million or more in investment assets. Maybe I am way off? Better safe than sorry.

[@jdollar5852]

​@wesm3848 there is no safe number, but $2 million invested is pretty much bullet proof so long as you have a bucket and guardrails strategy in place. If you own a home and have $2 million in diverse assets, you can draw $60k easily and $100k when markets are good. For us, $100k would be plenty to live like we want, though not extravagantly.

[@kckuc310]

Fantastic info and easy on the eyes!

[@Lexus211]

95 years old isn’t even close to the average age? Maybe 85 ?

[@RetirewithJulia]

Life expectancy for a 65 year-old female is 84 and for a 65 yo man, 81.

[@Lexus211]

@@RetirewithJuliabut you did your calculations based off living to 95.

[@RetirewithJulia]

Right. We don’t start by running to average, we start by seeing how a client would fare if they lived a long life, hence the “stress test”. Thanks for watching!

[@Markrtsoon]

Based on what we have, I can say for sure the couple in your last example is by no means “rich”. These days, you would need at least 5 million, if not 10 million, to be considered “rich”.

[@RetirewithJulia]

Remember, that’s the median, not the average. Also, being “rich” STARTS at 1.9 million. Thanks for watching!

[@Markrtsoon]

@@RetirewithJulia May be I could send you our numbers and let's see if we are good to retire.

[@jdollar5852]

Rich varies greatly based on where you live. $1 million in Vietnam is filthy rich. We are talking live-in maid, luxury beach condo, etc., rich. In LA, $1 million is flat broke. We live in a relatively low coat state with a little over $3 million invested, and we are probably in the 98% range. We by no means feel rich, but I can go buy a new truck with cash today if I want. By most standards, I'm rich.