I just retired recently and i find this video very creative if i must say, these psychological concepts are useful for individuals attempting to avoid mistakes
@Bigwilli1236 ай бұрын
Because Roth IRS are tax free. You will be able to keep more money you have worked hard for. I want to invest more than 300k but not sure how to go
@Andres_8536 ай бұрын
Consider financial planning especially with the complexity of investment options.
@camela8445Mar6 ай бұрын
Having an finance advisor is the best way to go about it and investing generally especially for near retirees. I have been in touch with a coach now.
@camela8445Mar6 ай бұрын
His name is Nathan Travis Cook
@Sanchyfab6 ай бұрын
Thanks for the tip! would love to grow my reserve regardless of the economy situation, i'm in need of guidance too
@markmurrell18946 ай бұрын
I just want to live comfortably off my pension and SS. My TSP money can be my “fun” money.
@b.coxemba67996 ай бұрын
That's exactly what I do. I'm living and budgeting off my annuities right now at age 54 (lifetime earnings) Department of Justice pension, Veteran Compensation since age 51 and hopefully Social Security once am eligible at 62. I plan on drawing on my retirement savings the year I turn 62 in December. Keeping my principal that I retired with at 51 plus 100k. Any withdrawals would be a bonus for the following year but not included in the budget. Hopefully leaving a inheritance (generational wealth) for family in a trust account.
@paulettepierre67586 ай бұрын
Exactly! My wife retires in 3 years from Homeland after 30 years. I’ll retire 5 years later from the VA. Enjoy the pension and SS and use the earnings from TSP investments for travel!
@noshooz210446 ай бұрын
Likewise. My wife and I both retired with over 40 years Federal service. She was CSRS and I was FERS. Between our pensions and my SS the TSP $ can just sit and grow until we need it.
@itguru20375 ай бұрын
@@b.coxemba6799awesome. Did you retire debt free?
@noshooz210446 ай бұрын
I did all of these calculations before I retired to ensure myself that I could.
@glennet96136 ай бұрын
The Australian superannuation is dynamic and works on a minimum withdrawal of the end of year balance, 4% below 65, 5% 65 to 74 and then increases by 1% every 5 years. It is impossible to run out of money and has worked for us for twenty years.
@LittleCabin6 ай бұрын
I believe the 4% rule also assumes a 60-40 stock-bond portfolio.
@johngill28536 ай бұрын
The original study was 50/50 But the Trinity study showed more portfolios(Google images "Trinity study")
@xavier_lucas6 ай бұрын
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, I earn around $120K per year but nothing to show for it yet.
@Paullookman6 ай бұрын
This is huge! would love to grow my reserve regardless of the economy situation, my 401k has lost everything accrued since early 2019, at this point, i'm in need of guidance, can you point me?
@xavier_lucas6 ай бұрын
i already copied and put her name on the web and i'm really impressed by her website, thanks for the recommendation.
@katsadventures70272 ай бұрын
I have 360 K I’ve decided I only need to take out 1000 a month. I’m just taking a little bit over 3%. I’m really hoping it grows some in the next few years. I may take a little more. My bills are really low, so I’m grateful for that. I don’t need more than that right now. Do you think that’s a good amount to take out? I have a 60/40. I’ve decided this week. I am taking my money out of the bank and going on my own. The bank is taking 1.78% from me. I don’t like that.
@frankm3796 ай бұрын
Great tips!
@johna10605 ай бұрын
Hey Dallen, thanks so much for your informative videos. Right now I'm in the L income fund as a retiree but I want to transition to the "buckets" for short medium and long term investing as you've stated. I have to admit I'm a little sketchy having to weather some market down turns. But it does make sense to have long term growth, even in retirement. Once again many thanks for your great advice.
@PlanYourFederalBenefits5 ай бұрын
I'm glad it was helpful!
@specialt15796 ай бұрын
Good advice! Keep it simple..i like it!
@PlanYourFederalBenefits6 ай бұрын
Thank you for the feedback!
@andyroo93815 ай бұрын
I have no concept of retirement income and I anticipate living poorly after I retire.
@PlanYourFederalBenefits5 ай бұрын
I'm sorry to hear about that. If you would like a little help, feel free to set up a meeting with us: hawsfederaladvisors.com/work-with-us/
@baitcaster72606 ай бұрын
I want to transfer my tsp to an IRA when I RetireAnd invest it into Dividend Etfs .Are the Dividends taxed at regular income in an IRA?
@brian42846 ай бұрын
It depends if the dividends are qualified. If not, then yes.
@baitcaster72606 ай бұрын
@@brian4284 yes the the Funds that I want to Invest in are qualified.
@striperseeker6 ай бұрын
how do you not touch the principal with RMDs?? It's impossible
@johngill28536 ай бұрын
You reinvest the RMDs in taxable
@striperseeker6 ай бұрын
@@johngill2853 yes, but that is "touching" the principal and you are paying taxes on it. Besides, you would have to put it in a non-retirement account, as only income and wages can be invested into any retirement account.
@PlanYourFederalBenefits6 ай бұрын
Great question! Typically the RMD is necessary at age 72. And people usually retire before that age. Using the principal strategy, your fund will most likely grow enough from your retirement to age of RMDs to not have an impact on the initial amount that you had at the start of retirement.
@TR8jhlo6 ай бұрын
Dallen, note correct spelling: principal.
@b.dailey31806 ай бұрын
Rule: Principal is the pal in your school. JS
@verasearle75706 ай бұрын
That is a school leader spelling.
@b.coxemba67996 ай бұрын
Principle is the fundamental truth, belief or ruling So concerning interest rate refer to principal
@bleedingonthehomestead66436 ай бұрын
How you cannot spend the principal. Every time a distribution is taken. Shares are sold. The number of shares will keep going down. We just hope the individual share value keeps going up
@b.coxemba67996 ай бұрын
@@bleedingonthehomestead6643 You're not withdrawing by shares but actual cash value, no matter what the share price. If in January your retirement savings is $300,000 and because you're retired you not contributing to your savings by December you earned 5% ($15,000) you withdraw $15,000 and January your starting balance is $300,000 (principal). If the price of the stock dropped aka your value is below $300,000 you don't make any withdrawals.
@tjlazer716 ай бұрын
With dynamic distribution, do you have to adjust that percentage every year or do you set it at like say 5% and it does it automatically as the market affects your balance?
@PlanYourFederalBenefits6 ай бұрын
Thanks for the question! You can always control how much money is take from your TSP. So, every year you can adjust the percentage based on the dynamic distribution strategy.
@jasonkatada15836 ай бұрын
What about sequence of returns, is that under #3 Dynamic?
@PlanYourFederalBenefits6 ай бұрын
Great question! Sequence of returns is a risk that every retiree is under. it refers to the potential loss of money with bad investment decisions early on. This could certainly be a risk under the #3 dynamic strategy that we talked about in the video.