How Much Can I Expect To Spend In Retirement? ($250k, $500k, $1M, $2M Portfolio Examples)

[@humphrey]

Thanks for always watching and supporting ❤ Please be aware of scammers in the comments. I keep removing them but they will have conversations with themselves and then recommend a person you talk to. Please know that is completely FAKE and DO not fall for it.

[@ryandefranco7740]

You're welcome! And thank you!

[@mart1n10601]

you're the GOAT Mr. Hump! W content

[@benjyp1223]

@@humphrey Great video! I'd love to see you use more of the samples/mini case studies! They are so helpful with the application of what youre talking about.

[@mathieusavard]

They're so many bots on your videos

[@punisher6659]

Thanks for your content.

[@jameschaves5723]

Outstanding video Humphrey. I’m 54 sitting on $2.3 million. Granted it’s in 401K and Roth IRA. Only debt is $130K mortgage @ 2.125% so no rush to pay that off!! I’m what you call “qualified rich”. I decided to cut my hours down to 24/wk. Feels good to pay my bills and golf when I want. Work is just about maintaining health insurance and relationships now.

[@erichcas1778]

I have the same rate of 2.125% lol easy to remeber

[@turnne]

I have a very situation financially...but owe $69K on my home with a 3.5% mortgage. I accelerating the payoff of the mortgage to coincide with me 62.5 years old( 2 years from now) That happens to be the point I would like to retire. I just dont want to with a mortgage

[@jameschaves5723]

@@turnne very smart move!!

[@ilivace]

Do you get health insurance working part time?

[@Peterl4290]

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?

[@bobwright-90]

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

[@larrypaul-cw9nk]

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.

[@sabastinenoah]

Glad to have stumbled on this comment, Please who is the consultant that assist you and if you don't mind, how do I get in touch with them?

[@larrypaul-cw9nk]

Google Annette Christine Conte and do your own research. She has portfolio management down to a science

[@sabastinenoah]

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

[@Duttonmuffins]

Hello, I am due for retirement in two years, I'm a senior citizen but I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $50K per year but nothing to show for it yet.

[@TheDayTheDay312]

In this current unstable markets, It is advisable to diversify while retaining 70-80% in secure investments. looking at your budget, you should consider financial advisory.

[@Madridstrat]

I’ve been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.

[@Madridstrat]

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

[@teams3345]

Retired at 56 and my retirement investments are more than when I retired. We like taking one 28 day vacation per year. We started investing in our 401ks in our early 20s.

[@KennedyVerbruggen]

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

[@samuelrandy-k8x]

I’m 77 and still working full time. I do enjoy my work, it provides me with purpose and has secured my financial future. Most people are too eager to retire as early as possible. Even if you do retire early, best to get a part time job for the reasons cited above, as well as following many if not all of the suggestions in this video.

[@type-r3x]

Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.

[@brantheeskimo]

Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.

[@type-r3x]

Rebecca Nassar Dunne is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@type-r3x]

'Rebecca Nassar Dunne’ is the manager I use. Just research the name. You'd find necessary details to set up an appointment.

[@BBmbr89]

In my 50s, I'm focused on investments for retirement to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. My combined employer 401k and roth IRA of $1m returns about 4%. What would you advice to do with my portfolio for improved returns?

[@LuvmeRos]

I don't really know your risk tolerance or asset allocation, sounds like just bad stock picking. Also unclear if you have an advisor providing value via financial planning or other decision making. But likely scenario is just bad stock picks. Index funds, Etfs and chill.

[@MapleLaffelle]

I only contribute 5% to get full company match, that’s it. The 401K plan is designed for you to work until you are about dead. Also, the government does not have their hands on it yet either.

[@Redwood4040]

Great advice here. Keep it simple, buy things you understand, take some risk but don't try to shoot the lights out. I currently have 75% SCHD and 25% ROTH IRA. Brokerage account is 40% VOO, 35% SCHD, 25% XLK. Combine balance ~$3.3m Less than 3 years until retirement.... I have about 400k in cash. My portfolio has yielded far more than I expected for my retirement. Q3 taxable divs this year was $18,388 this year. Thanks to my CFA.

[@CandiceHandelle]

@@Redwood4040 I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?

[@Redwood4040]

Absolutely! I work with Victoria Louisa Saylor. I’d be happy to connect you-Victoria has been fantastic in helping me build a solid, long-term strategy. You can explore how she might help with your goals too.

[@machineoutlivestheman1192]

Thanks! This one is encouraging. I hear so often that I “need” $2MM to retire and also that median retirement savings for my age group is around $167K. I’m well north of that at the moment but nowhere near a track that gets me to $2 mil. This video was helpful.

[@hermburgler]

That was so wild you absolutely catching me at SFO WHILST watching this video! Was amazing meeting you Humphrey!

[@humphrey]

Lets go!! First time thats happened to me :)

[@humphrey]

Thanks for watching Hermburgler lol :D

[@k87upkid]

That's super cool!

[@dannymartial7997]

Humphrey was eavesdropping on your screen? 😂

[@hermburgler]

@@dannymartial7997 he showed up like Batman seeing the bat signal. Lol. Super cool guy, took photos with me chatted a bit. Nothing can express the feeling of casually watching someone on yt and him tapping and seeing the man standing over your shoulder. I dragged my jaw all the way to my gate.

[@Krazybonejabs]

I'm not calculating ss into my retirement. Maxing everything I can for the next 20-25 years while having everything paid off.

[@pdxmusl1510]

Same here. I'm not counting on it. I've been investing over 50% of my take home for years now. I should only have about 10 years left.

[@givrally]

Same, I'm counting that as a tax and assuming I'm not getting anything in return.

[@TheResearchScoop]

the state that it's at this is a reasonable take honestly.

[@vavhab]

That is a wise decision! We won't get SS. :(

[@investorfriendlycpa]

Great breakdown of retirement portfolio goals! It’s super helpful to see specific examples for $250K, $500K, $1M, and $2M-makes it so much easier to visualize and plan speciific retirement savings goals.

[@TheResearchScoop]

Honestly this is a great video and appreciate your insight into the topic. As grim as it sounds, I'm happy that we talked about the 76 year life span or the average of 83 for men and 86 for women. The classic 30 year withdrawal rate of 4% might be too optimistic / conservative for someone that retires at the age of 65. Great video!

[@Datbrownkid313]

😢 damn that’s so depressing but honestly a valid point

[@andrewmcalister3462]

It’s important to note that “average” life span includes a whole lot of people who die before age 65. If you make it to 65, you can expect to live another 17 years (male) or 19.7 years female.

[@TheResearchScoop]

@@andrewmcalister3462 good point!

[@MikeS-7]

I think one thing you probably have to do as well as subtract out your savings rate. If you're saving at 20% then you don't need 80% you only need 60%.

[@humphrey]

Good point

[@andrew40]

I've always found estimating expenses in retirement difficult. I'm working now and am largely too busy to spend the bulk of the money I'm making. When I retire, I will have lots of free time, and filling that time will likely cost money, potentially more money than I'm spending now.

[@IfranReinfeld]

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.

[@AlilatTiamiyu]

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...

[@IfranReinfeld]

@@AlilatTiamiyu 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

[@AlilatTiamiyu]

@@IfranReinfeld My advisor is *MARGARET MOLLI ALVEY*

[@AlilatTiamiyu]

You can look her up online

[@MeirPamela]

@@AlilatTiamiyu 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?

[@thomasmoshier3920]

Retired at 65 in July with 2 million in my 403b. Started putting 10% of my income in index funds in my mid thirties. Not as difficult as you might think. It does, however, take discipline.

[@raymond-i2v]

Lately I've been contemplating retirement, uncertain whether my 401(k) and IRA will ensure a secure future. I've also invested $800K in the stock market, experiencing fluctuations without substantial gains.

[@davidjohn-u4v]

Using a 401(k) or IRA is a valuable strategy for retirement planning, providing potential savings growth and tax advantages. While the stock market is promising, expert guidance is essential for effective portfolio management.

[@RayaMarcus]

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.

[@Derawhitney]

I've got similar problems and I have also considered using an FA but I don't know how to go about it. Please, what are the steps for getting one? Like a really good one.

[@RayaMarcus]

Stacy Lynn Staples is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.

[@BridgetMiller-]

Please educate me, I’ve come across this name before, Now i'm interested.

[@BennettElizabth]

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets 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...

[@ThamaraSchlossarek]

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 daughter. 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...

[@BennettElizabth]

@@ThamaraSchlossarek Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY* ..

[@ThamaraSchlossarek]

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

[@BennettElizabth]

*MARGARET MOLLI ALVEY*

[@BennettElizabth]

Lookup with her name on the webpage.

[@shawnhock884]

We are a couple years out and are savings poor. We started late but will be ok. This video confirms what we are doing is right. Appreciate it.

[@williamstanley9048]

Hey Humphrey, always love your videos. I do have one point I don't see a lot of financial creators mention when they talk about life expectancy (such as your reference to a 76 year lifespan). We should really look at lifespan more dynamically based on current age. So while your reference to a lifespan of 76 years for Americans may be accurate as a whole. For Americans who are already 65, the average is actually 83 for men and 86 for women. This makes a big difference especially for retirement planning for those who want to "die with 0".

[@humphrey]

great to hear from you. Ok that makes a lot of sense, becaues those at 65 have already made it to 65 I assume haha

[@williamstanley9048]

@@humphrey exactly! It helps when ensuring people plan for longer than 10-15 year retirements. That 76 year old average is significantly weighed down by those who pass before 65!

[@JTBY007-iy1zu]

​@@williamstanley9048 Also, if you're planning for a married couple, one survivor is likely to go further still. Perhaps to 91 years old!

[@nickdokos8752]

Ive been watching a lot of your content and reevaluating my life. Thanks for the information it’s been very helpful.

[@joshrichards6413]

I love that you use "portfolio size for families". Whenever I watch these videos I ask myself "do I double it for my spouse?"

[@Faolan_Grey]

I'm 21 with 73k in investments currently. I would like to partially retire when I'm 40, part time with just enough hours to get insurance.

[@KenW418]

This is the way. If you are doing that well at 21, then I have no doubt that you'll get there.

[@dannymartial7997]

I'm on track to fully retire by 45. But I'll probably work after that depending on how I feel. I'm sure it'll feel GREAT to work, but not have to worry about being at the mercy of anyone.

[@me0101001000]

I have zero will to retire, but it's still worth my time to look at this. On top of my job, there are other things I want to try. Funding my own ideas, maybe starting a business at some point, or maybe helping my future kids do something extra nice that I never got to. As Brian and Bo say, the goal is FINE: Financial Independence, Next Endeavor.

[@bvoyelr]

RE: The 80% rule, if you need a rule of thumb to know how much money you actually spend on a month to month basis, then you don't need to decide how much money you can spend in retirement. You need to know how much you spend *right now*. You are currently living in the world. You should know how much you spend and be able to project that forward (read: it'll be mostly the same. You'll spend more on healthcare and less on saving). From there, you can see how much luxury you can afford. For me, I use your financial mastersheet, which has my spending: savings ratio pre-calculated. I save 35%, which means I'll need to budget for 65% of my salary in retirement. That is my bottom line for existing at my current lifestyle budget. Everything I spend after that is flavor -- which I can budget for, but I know that if my retirement can't sustain that bottom line number, I need to make adjustments. When you put in the work to understand your fundamentals, the rest of this stuff suddenly becomes pretty easy!

[@Series7Exam]

Great info.. people definitely need to see this explained simply

[@Eric-bh7jy]

Who the hell wants to work after 65? Screw that. I would love to stop even before that. I’ve been saving 25% and pray I can go part time in my mid/late 50’s at least.

[@TheResearchScoop]

the other part to think about is social security benefits and how much they might be able to augment the above.

[@ryanclark6602]

Yeah I plan on going part time at 55 and retire at 62.Part time being around 25 hrs a week. Working more than that is crazy. I’m doing my time now so I can enjoy myself later

[@FIRE_DrNinjaTurtle]

I stopped at 58.5 years old. The job was toxic, so I pulled the rip cord as soon as I got what I wanted, the pension

[@AfricanBoy2422l]

Some people like their jobs

[@FIRE_DrNinjaTurtle]

@@AfricanBoy2422l yes, but I was demoted and given extra work, but I stayed to get the pension. Some of us suffer to get the dream later.

[@larryly3613]

You might want talk about 401K annual saving limit for those high earners. At 200K income, the most they can save is around 11.3% in 2024 into 401K. The rest is some other outside investment account.

[@rodrigok1220]

If you’re over 50, you get catchup contributions. Also, the limit of 23k does not include employer match…. All your money doesn’t need to go into retirement accounts. More than likely, folks put into brokerage accounts as well.

[@Krazybonejabs]

@@larryly3613 Easy. Roth IRA, Hsa, hysa, brokerage, investment properties. Keep it simple.

[@tsrockstroh]

I wanted to ask this same question. How do you save 35% annually with 200k income?

[@Krazybonejabs]

@tsrockstroh mega backdoor roth ira up to 69k/year. Brokerage accounts if you house isn't high interest debt above 5%. Easy.

[@TheHavocdog]

​@tsrockstroh If people can live on 75K, then people can live on 130K.

[@lidattruong1105]

5k is not balling out on a trip, especially these days. A normal non luxury week in Hawaii will hit that.

[@Nyax7272]

Well, I'd say simply going to Hawaii is balling out.

[@christopheraquino4711]

Super like this blog, Mr. Yang thank you. You showed the calculations how it will look like to have certain money for retirement. I am 51 and wife is 49 and we are in Gazelle intense in putting more money towards our retirement, glad we work in Federal Government aside from social security and TSP money we have pension as well. Our cars are new and paid cash, only debt mortgage with 2.25%. We are travelling now while we can.

[@theburnetts]

The 80% rule makes no sense as described in this video. At 7:43 you give the example of this: if your salary was $100,000 annually then you should plan to spend $80,000 per year in retirement. If you think about it - if your current salary is $100,000 then that means you are actually spending about $76,000 annually (after taking out 24% for taxes). So right now you are spending $76,000 annually and you saying that in retirement I should be spending $80,000??? That is actually MORE than I am spending right now. That doesn't make sense to me.

[@mariatreloar9482]

You have to factor potential taxes, I believe this is an example of gross withdraw not net taxes

[@theburnetts]

@@mariatreloar9482 maybe. But he specifically said "you should plan to SPEND $80,000 per year in retirement" - not WITHDRAW $80,000 per year in retirement. I feel like the language is very very important in these videos. There is a big difference between spend and withdraw.

[@clsanchez77]

Even less than 80% if you are saving for retirement. I calculated mine out and came out at 55%.

[@MattsMkia]

As a soon retiree, keeping my 401k on course after a rocky 2022 is top priority. I have been reading of investors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated

[@LUCIASMITH-d1z]

there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience

[@JesusLeee-i9r]

Having an investment adviser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I netted over $220K during this dip, that made it clear there's more to the market that we avg joes don't know

[@winifred-k9e]

Please can you leave the info of your investment advisor here? I’m in dire need for one

[@JesusLeee-i9r]

She goes by ‘’Melissa Terri Swayne’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.

[@JacobsErick-u8r]

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

[@mlstoneking13]

Great video! You always make me feel optimistic about my retirement savings!

[@kenreynolds1000]

I’m counting SS at 75% max. Based on conservative growth and downsizing I should be able to bail at 60. 62 if the market has a historic correction.

[@jeremydudet]

Great vid, Humphrey!

[@philipfletch]

I'm a 52-year-old QA Specialist at Confluera, earning $150,000 annually. While I have a retirement account, I'm eager to explore short-term investment opportunities before transitioning to part-time work in the coming years.

[@sailor123ize]

My philosophy is, I worked to get where i am now, so i will let my fortune now work for me. Live a comfortable, simple life and be financially secure where you can financially tackle whatever gets thrown at you. No sacrifices, just frugal.

[@mitchelsoucy3831]

Always enjoy your videos, thanks for putting the time into these

[@humphrey]

Glad you like them!

[@BrynnerWandemberg]

Going through some retirement planning now. One major consideration is LTC planning also. Major expense and 100% necessary for some families toward end of life.

[@sevalle]

I will have a pension+social security, I also max out my Roth 401k and Roth IRA and have just recently started a brokerage account. Online calculators project me at 2.5M with a 10% ROI…I have no intention of slowing down my investment as I want to leave something to my kids as inheritance. I don’t need much for retirement either as I live very frugally

[@mattiewallis21]

Investments are the roots of financial security; the deeper they grow, the stronger your future will be. With my adviser, I’ve cultivated deep investment roots, strengthening my financial security for the future

[@theodoreleste]

Please educate me. I am so much interested in investing but i don't want to make mistakes and loose my money. Can you pls connect me with your Adviser?

[@mattiewallis21]

My financial adviser is Gabriel Alberto William , he is not just a broker, he is a financial adviser that gives advice on any financial matters

[@theodoreleste]

Thanks for sharing. I curiously searched the web with his full name and his website popped up immediately. I looked through his credentials very impresive and i will send him an email right now

[@AdolphusAupry]

Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires, thanks Charlotte Grace Miller

[@mary_.1peterson]

She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states

[@jadewashington7]

The very first time we tried, we invested $1400 and after a week, we received $5230. That really helped us a lot to pay up our bills.

[@ZahirFriedman]

I'm surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.

[@GrozaGroza-ko7fn]

I'm new at this, please how can I reach her?

[@HighlightsSerieATIM]

I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills

[@benjyp1223]

Started investing at 23. Crossed to a 6 figure income at 30. Maintained a 13٪ savings rate. 7% growth rate projects a 3.5m portfolio. Obviously 8, 10, and 12% looks much much much better.... but a safe 3.5. Would be good.

[@guitarsandcheesecake1632]

Wow. Seems like retirement in the US is expensive. Glad I'm in the UK. I've got 175k and just over 5yrs until I get my state pension. And I can see how I'm gonna spend it all b4 I die!! 😊😊

[@Takusanmizu77]

I would love a video that could help us choose a planner to help set us up for tax strategies and repositioning for retirement. I’m 47 and have done ok on my own but as I’m getting older and don’t want to work forever I am feeling the need to get help but am wary of salespeople disguised as financial planners. Tyty!

[@grcigar9911]

In the U.S. considering SS and Medicare both are estimated to have a net shortfall of approximately $80T over the next 75 years, the net worth the younger worker of today projects to live off of in retirement in the decades to come won’t be based on the same rules and conventional wisdom in play for the last 40 years.

[@franks4973]

Great to hear someone discuss dynamic spending. Have you thought about dynamic withdrawal with savings to dividend etf? I have 2.5m pretax, I made 350k this year, since I am already at 22% tax why not withdrawal more in up years. Put extra in the post tax dividend account. In down years draw balance from post tax to live on until market is up again. The average is 3 down years every 10 years and has held true for last 30 years. I am now 62, wife 57 and still working.

[@deniseprichett2619]

Great video!!! 🎊 Could you talk to the process of pensions? I have one and my 401k, but I am in my 50s so I am not clear on the pension factors into the picture. Thanks!!!

[@theburnetts]

I don't understand the spreadsheet you show at 5:29. For example in the first row you show an Annual Withdrawal of $20,000. And you show Taxes Paid of $2,222.22. And then you show a Net Withdrawal of $22,222.22. Huh? Why would you add the Annual Withdrawal to the Taxes Paid to get something called "net"? Are you trying to say that you really withdraw $22,222.22 from your portfolio and you also get $22,884 from SS for a total income of $45,106.22 and then taxes on that total income would be $2,222.22 for a net income of $42,884? Is the idea that you are trying to figure out how much you need to withdraw so that after taxes it is 4%?

[@BigJeezie]

Vid checks out. I was told I need $2m balance for $100k/yr draw from my financial management guy.

[@titohaldar2556]

Hi Humphrey, fantastic education with solid data and simulated scenarios. My situation: I am 53, and I estimate my portfolio at $1.6M and zero debt on my 56th birthday. I want to work until 60, hope to bulk up that portfolio to become $2.7M (again, zero debt). I live in the Phoenix area. Do you think I can withdraw $120k from my portfolio (50% Roth, 50% Traditional) at ~5% rate plus SS confidently?

[@Kevin-fh5ci]

Not a fan of using averages when talking about money, should be median values. Very big difference.

[@iang4338]

Thanks for the video. Is there a reason why on the table for the $1m account, social security never increased, it does in reality.

[@tombkk1322]

What about Long Term Healthcare Cost in this equation? 24 hour in home nursing care can cost up to 250k a year. Maybe I missed this in the video.

[@niveditar7783]

This is all assuming you already have your mortgage paid off, right?

[@8Arachne8]

This is why I plan to live off dividends. Never have to withdraw or worry about market conditions. Requires a larger portfolio, but that larger portfolio happens with about the same investment when reinvesting growing dividends. And you’ll have a nice portfolio to pass on.

[@TheHavocdog]

I have had two stocks that pay dividends, cut or stop paying dividends in bad years. You may want to have a plan if that happens.

[@8Arachne8]

@@TheHavocdog I do, regardless of the stocks size in my portfolio I try to keep each only contributing 5% or less to my total dividend income. My goal is to also only be living off 80%, continuing to reinvest the 20% I don’t use, and acting as a buffer if as many as 4 or 5 companies completely stop paying in a single year.

[@mattnemeth1333]

6:30 does that even make a difference? Thats such an insignificant sum

[@freeman_fundamentals]

Is there a plug & play formula anywhere? I’ve been investing 9% since age 18 (2018, I turn 25 next month) & I make 60k a year. I’ve currently got a total of $62,000 in my fidelity accounts.

[@JAYFULFILMZ]

Honestly, the minimum amount the average person needs to retire is around $1.5Million to $2Million! If you retire with $250,000 you 100% will run out of money in the first decade of your retirement!

[@k0rean_pancake191]

HI HUMPHREY!

[@humphrey]

hi!

[@shannonhutchinson4084]

Hit 140k in TSP. Worried that maxing out once I hit 50 won’t be enough.

[@MarkDan7065]

OMG !! This transformation is absolutely amazing! I'm new blogging in Crypto and I've been making losses, Can you please guide me on how to do this, am very tired of making lost

[@ElpidioFausto]

Why are you trading on yourself do you like making losses. is quite risky for beginners without basic knowledge...for newbies to trade on her/his yourself

[@patriciascottly6373]

All you need now is a professional trader else you will continue making losses °°

[@Annaga-k7y]

As a beginner who don't understand how Bitcoin trade do and you really want to generate portfolio , Ill advise you to seek for pro guidance to work with

[@antonbarros1774]

Exactly that's is true, beginners need an expect broker and professional trader to handle their trading and generate good profits

[@zlarjandra7983]

​@@patriciascottly6373Thanks for your advice, but How can someone know a professional account manager that is trustworthy when legit once are hard to find this days.

[@Watching4M]

lol Pontiac, MI catching a stray at 7:20

[@humphrey]

lol 😂

[@Thesakuraharona]

I have about 30 years before I can even consider retiring (excluding any miracles), so I am assuming social security will likely not be an option by the time I get there.

[@owggarage723]

I'd love to deplete my portfolio to 0 just before my lifespan ticks to 0!

[@rayengstrom1905]

I don't really understand the 80% rule. If your salary is $100K, your expenses shouldn't also be $100K because your take home is only around $65k-$70k and it's even less if you're contributing 15% to your retirement. I just don't understand why I need to plan for $80k in expenses in retirement when I only have $50k in expenses now.

[@rh88841]

What if your house is paid off? I feel like I could easily live off of half my salary with my only housing costs being property taxes and insurance.

[@rodrigok1220]

Agree! Hopefully my house is paid off, all my kids are through college. If I start removing expenses, I could easily get to 50%…

[@Boricua936]

Great video! Can you post the spreadsheet?

[@Apart_Ad337]

4% may be a bit much, especially for a long-time period. Maybe better calculate with 3 or 3,5% percent to be safe.

[@rodrigok1220]

It actually needs to be market driven. If the market is way up you could withdraw more lik 5 or 6 percent, but if market is way down, withdraw 2 or 3 percent. Just because you withdraw doesn’t mean you have to spend it. Withdraw and hold cash for when markets down so you don’t have to withdraw as much.

[@zayzay9006]

How much are you planning on retiring on?

[@tompartyka352]

Explain, I’m assuming that 3- 5k trips a year are for singles? Or the Bahamas? If not, let me know where you cruise or travel for 5k a week for 2 people? I would love to save a few bucks! It’s basically 10k a week for 2 persons, anything decent, again, unless you’re local traveling.

[@seanwelding4183]

How are these formulas accounting for inflation? I feel like I'm missing something major. Just assuming a 2% inflation rate, let alone the real inflation rate, changes this calculus radically from what I conclude. (i.e. an earner who makes 60k/yr currently, and plans to retire in 35 years with a $1.5m balance. That earner will expect to withdraw 4%/yr or an effective $60k/yr retirement income from their 401k/IRA) In this example, that sounds like a reasonable amount to continue to live on not accounting for Social Security or other possible income/accounts. However, now lets factor in inflation, at lets say a super conservative 2% inflation rate compounded annually. That $60k/yr in todays dollars needs to be ~$120k/yr in 35 years to be equal. Now lets do a realistic calculation for inflation at 3.5%/yr. You now need ~$200k/yr to equal the $60k in todays dollars. Some insight on how this is calculated would be really valuable, and I'd really enjoy a video focusing on the inflation aspect of retirement planning.

[@msbgone]

Great vid, thank you.

[@humphrey]

u r welcome!

[@mallardcutter7209]

A paid off house is almost a necessity before retirement. As a matter of fact I wouldn’t even consider retiring with a mortgage.

[@alexgames01]

But this is with the numbers of 2024. Isnt there a rule to account for inflation 30 years from now?

[@kennethwers]

80% of income or take home? big different.

[@aaaaaaaaaaaaa373]

I've never understood why the 80% rule refers to 'current salary' rather than 'current expenditures'. If my current expenditures are 20% of my salary, why would I expect to be spending 4x that in retirement?

[@Nyax7272]

Because they (rightfully) assume most people spend everything they earn besides bare minimum savings. Any of these rules of thumb are worthless otherwise and you just need to look at your current budget and expenditures and understand how that would change in retirement.

[@baronvandermaas8429]

I would love a deeper video of expectations that people should have in retirement. Should I expect to spend more or less? When should I use certain dollars (tax deferred or tax free, etc.)

[@bvoyelr]

The spending expectation is easy: you will spend as much as you spend today, minus any amount you're saving for retirement. We have this image of this huge life transition -- and it is -- but financially, money just moves buckets (mainly from savings to healthcare). It's not like you're going to stop eating, maintaining your house, upgrading appliances every once in a while, buying new furniture, etc. Life just continues apace. Since you're no longer working, you'll want to increase your fun budget quite a bit, and I suspect that just depends on how much money you have access to.

[@jaydenrodriguez9492]

Im really wanting to add solar to my home but not sure if going through that debt is worth the return I believe it is but what are your thoughts? Live in Florida btw where we lose power when hurricanes pass.

[@Bum_Hip]

We will have a better idea of Social Security’s future next week.

[@MFTW]

Planning that social security does not exist

[@TheHavocdog]

It will exist, but at a lower level than now. My plans project that I will only get 70% of the normal level.

[@MFTW]

@TheHavocdog fair. I just like to think of worst case scenarios. Maybe a good compromise is thinking it will be 1/2?

[@aaronquadd3019]

I want to keep as much money in my retirement to pass on to my children

[@wagon9082]

Good video

[@humphrey]

Thanks!

[@deanfaklaris9987]

Your wrong about life expectancy. 76 is for people born today and it factors in the dangers of being a 20-30 yearold male and reckless. if you reach 62, your life expectancy is 82-83.

[@rebeltheharem7028]

My desired spend in retirement: 200K (I want luxury travel). Years to retirement: 16. Amount needed for 4% withdrawal: 5mil Other sources of retirement income: I'll assume I don't get them Amount saved so far: 700K ROI Rate: 5%. Savings amount I need: 134K per year for 16 years. I guess I better get 2 more jobs.

[@awesomekj5812]

Damn ....don't waste time on internet then ..get to hamster wheel.

[@MFTW]

Genuine question: why do people do the 80% rule, why not just do the same amount as your current annual spend?

[@humphrey]

I think its because retirees tend to see their spending decrease

[@MFTW]

@@humphrey 80% of my income is way higher than my annual spend. For example, 50% is in investing.

[@danzdogg]

@@MFTW Well then you either reduce your savings rate and spend more now, or retire early with the 80% rule (or without).

[@MFTW]

@@danzdogg why not just spend based on what I currently spend since my retirement income will be less than my current income?

[@vinyl1Earthlink]

It really depends. I am retired and spend about twice as much as I spent when working - I didn't have time to spend much when I had to go to work. My net worth is still increasing around 5% a year, so why not?

[@lberhold]

Always live on 70% or less of your income. 10% to charity, and 20% (or more) to savings and investments.

[@ianl5560]

If you retire at 65, your life expectancy is longer than 76. Your chance of living to 76 is at birth. Every year you don’t die through your life increases your probability of living longer. For example a 90 year old has a chance of living to 95, but no chance of dying at 76.

[@SpokaneGuy]

I am not expecting any social security by i’m eligible (i’m 32) and I think most people under 40 should plan to not have that (better safe than sorry)

[@MarcelinoDanielsson-le4mz]

¿And if I withdraw $0?

[@elijah.french]

Do we incorporate dividends with these withdrawals

[@danzdogg]

3:22 - are you suggesting having the portfolio invested at a 7% or in a growth oriented allocation AT the retirement date? That's insane!

[@Eric-bh7jy]

That’s the reality of what people should be doing.. unless you magically expect the stock market and US economy to fall apart when you retire. Growth funds until 55-60ish, then scale back to less aggressive options

[@bensattin2304]

One other thing to note is that if you hit 65, your life expectancy will be higher than 76

[@headsofhiphop]

If I'm retiring 10-30 years from now, wouldn't this have to factor in inflation? I'll bet $1 million isn't worth the same at that point.

[@TheNotimprezed]

Im 42 with $1.2m in 401k. The number my financial advisor recommended was about $5.6m. I dont plan on retiring until Im 60, so I should hit that, and hopefully surpass it my quite a bit. My dream is to hit $10m and die with at least $15m so I can pass $5m to each of my kids.

[@lmb4876]

Be careful about giving too much to your kids…”unearned” income is not always a good choice for your kids…also, if they divorce then the ex-spouse of your child gets 1/2 of your money😢

[@joycewright5386]

I’m retired 8 years and still scared to touch my savings. Living totally on social security.

[@JoshuaFitch]

I think it's odd to assume that people will be retired for 30 years. If they work to the full retirement age of 67, there are gonna be a lot of people pushing 100 years old.

[@erichollar5503]

Live in Pontiac, Michigan? I live in a Pontiac! 🤣

[@humphrey]

No way!

[@PaulaCarbonell-n7j]

As a soon retiree, keeping my 401k on course after a rocky 2024 is top priority. I have been reading of lnvestors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated.

[@wmwoods-l4f]

The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.

[@j.ottinger]

Having an lnvestment adviser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K so far, that made it clear there's more to the market that we avg joes don't know

[@speak2Gary]

I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?

[@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]

I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.

[@LouisDuran]

It's good you assumed 30 years and not the average American age at death. This is because the average age of someone who reaches age 65 is actually a lot higher than the average of the overall population