How Much Money Do I Need Saved to Spend 10,000 Per Month?

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Күн бұрын

Пікірлер: 49

@SecureYourRetirement 2 ай бұрын

Thanks for watching!! We've received great feedback from our retirement planning videos. Please comment below. Also try this video as well. "How Does Power of Attorney Work?" - kzbin.info/www/bejne/jabIm5V6q5ljabM

2 ай бұрын

You seem to have a misunderstanding of how the 4% “rule” works. The 4% withdrawal is for the first year ONLY! After that, each year you increase the amount from the previous year by the inflation rate of the previous year, regardless of the balance of the portfolio. So if you start with $1 million you take $40k the first year, and if there was 3% inflation that year you take $41,200. I’m sure you don’t even use the 4% rule for your clients withdrawal strategy, but you should still be able to explain it correctly.

@Mitzi73 2 ай бұрын

This!

@renagusfoto-docren 2 ай бұрын

Financial advisors do not want you to be taking more of your money from your portfolio because it lessens the amount of commissions they get ! Think about it , if they are charging you even with 1% from your total assets then compute that for that year! Once your portfolio is set to a certain percentage of earning, it will be generating that dividends where you will earn based on your number of shares. You are just one of the many clients they have , so your portfolio is just there until you meet him every quarter but also you are being charged every time you meet your financial advisor. Do your math.

@tintinet 18 күн бұрын

Gotta say they made a mess of this

@MargaretOlivia2u 2 ай бұрын

I think investors should always put their cash to work, especially In 2025, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2025

@EmilyVanessa5m 2 ай бұрын

Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.

@BarbaraMarks7s 2 ай бұрын

Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.

@HenryLucask5l 2 ай бұрын

I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?

@BarbaraMarks7s 2 ай бұрын

My CFA NICOLE ANASTASIA PLUMLEE 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..

@HenryLucask5l 2 ай бұрын

I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you

@Billclint-i8f 2 ай бұрын

This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried.

@Tommyp-w1b 2 ай бұрын

Not a lot of people are able to save that much in a lifetime. But 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.

@DillonMcgaha9 2 ай бұрын

I’m closing in on retirement, too, and I have benefitted so much from using a financial advisor. I didn’t start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who had been investing for many years.

@CheriFanizza 2 ай бұрын

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

@DillonMcgaha9 2 ай бұрын

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with 'Grace Adams Cook' for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

@phill-s3s 2 ай бұрын

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

@valkyriewv3535 2 ай бұрын

4% rule only takes 4% first year, it is indexed for inflation after that.

@DS-jk5zr 2 ай бұрын

More graphs, less talk. It's the way I learn.

@tajdvl-advocate6113 2 ай бұрын

Agreed. Men are more visual and also more likely,to consume content like this, especially on KZbin where content is primarily consumed by (biological) men.

@francisebbecke2727 17 күн бұрын

The average social security benefit is $1,976, not $3,000. Original assumptions can get you into trouble.

@ricardosalcedo4665 2 ай бұрын

I love the idea of the "growth" bucket and the "safety" bucket. How many months or years do you recommend keeping in the "safety" bucket, and what is the best approach for replenishing this bucket in either up or down years for the "growth" bucket?

@itwillchange 2 ай бұрын

Indeed. I do to. Its a very established idea. There are several podcasts on this; books also. Some suggest at least 2-3 years that can blunt SOR risk. So go as far as 5-10 years. Its an individual decision that can give you an answer. Do a monte-carlo study to determine what happens w/ diff amounts with mkt drops at diff times

@alaskaruzz17 2 ай бұрын

Thanks god for 1.5 speed.

@francisebbecke2727 17 күн бұрын

Please capitalize God.

@alaskaruzz17 14 күн бұрын

@@francisebbecke2727 Oh god, give it a break! Please don't push your religion on people. Please.

@MikeS-7 2 ай бұрын

The answer... Around three million dollars.

@francisebbecke2727 17 күн бұрын

True at 4% that is $40,000 per million. Three million would throw off $120,000 per year or $10,000 oer month.

@mdodge1960 2 ай бұрын

Your hypothetical couple is a fantasy. The average Social Security a person receives is under $1800 a month so if the two people in your hypothetical received $1800 a month each that’s a big difference from the $3000 each of them to receive in your hypothetical scenario. The 4% rule has pretty much been proven that it is not valid. A lot of financial planners now are saying it’s more like a 5% rule for withdraws on your saved retirement nest egg. Taxes are a very real thing, you could end up withdrawing $7,000-$9,000 a month depending on what your tax bracket they are in to net the $10,000 per month.

@SecureYourRetirement 2 ай бұрын

Not a fantasy at all. It’s our average client.

@767bob 2 ай бұрын

In most cases if a person is receiving $1800 per month from Social security, I doubt they will have $1 million or more saved for their retirement. They will probably have the average amount or less saved for retirement. This video is catered for the folks that has a decent amount saved/invested, the top 10% or better. This is not for the average people.

@jdgolf499 2 ай бұрын

Average SS benefit at $1800 a month includes people who retired 30 years ago, and also those that took their benefit early, at 62 or 63, which is most people! $1800 taken at 62 would be over $2500 at FRA. Also, $1800 a month would be based on a relatively low income throughout their career. Aside from that, I would never trust these guys with my retirement!

@globalfamily8172 2 ай бұрын

@@SecureYourRetirement He's suggesting that it's probably too conservative. Doesn't the market usually average at 10%?

@mdodge1960 2 ай бұрын

@@767bob “Not for the average person” you say. You must be suggesting that they are cherry picking their clients, 1 percenters only need to apply.

@beachbum77762 15 күн бұрын

4% is far too low a withdrawl rate, most people who follow the 4% rule religiously end up with far more money when they die then when they retired. Why not enjoy your money while alive. A 5.5% withdrawl rate is very resonable!!!

@mikeflair6800 Ай бұрын

$6K from SS? Who? My SS is $2500. I need $7500. That is north of $2M my friend!

@Oglulubell Ай бұрын

More like 1.4 mil - approx.

@scottjackson163 2 ай бұрын

Net is all that matters when you are talking about what people need to live on. You’ve negated the value of your $10K analysis by not specifying gross or net.

@bradthedad1069 2 ай бұрын

By saying “spend”, it would be inferred that this hypothetical scenario is based on a net 10,000 per month. You can’t “spend” gross.