The $1.8 Million Retirement Lie: How Much You REALLY Need

[@alexsteven.m6414]

People are facing a tough retirement. and it's even harder for workers to save due to low-paying jobs, inflation, and high rents. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire in.

[@PennyBernadette]

The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.

[@firefighter-i6q]

It's recommended to save at least 20% of your income in a 401k. My adv taught me to estimate how much you should save based on your age and income. I've been with her for years now and her decades of experience in the markets translate to chunks of value in so may ways! She has upscaled my portffolio and even got me reading self help books haha

[@Tanner-c2m]

That's an intriguing outcome. How can I contact your Asset manager?

[@firefighter-i6q]

“Rebecca Nassar Dunne” has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.

[@antoniaribeiro8073]

Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

[@Kjertinge]

It’s crazy how many bot accounts are on here saying “oh idk what to do with my money” “Oh I use (insert financial advisor name) “Wow thanks!” Don’t fall for this people!! These bots need to do better

[@humphrey]

yes agreed, i try to delete as many as i can but they keep popping up!

[@kristinlowther6260]

I agree and it shocks me that people fall for it. Also, why are the names always female and always a first, middle, and last name? It’s ridiculous.

[@Ihave10billionsubs]

I personally use Margaret Dickinson McJameson the third for all of my investments! ... j/k. Yeah those bots are lame.

[@scottneusen9601]

What if the real bots are the friends we made along the way.

[@Kjertinge]

@@Ihave10billionsubs Hahaha yes I use Ben Dover for all my investments LOL

[@DeannaPeters-lz8we]

I already own shares of TSLA, NVDA and APPL as well. Sure, I don't mind having these equities sit around for a while, but I'd also like to appreciate short-term opportunities that could fetch $200,000 or less..

[@Bobhenry-c7z]

If you need advice on short-term investments, consider speaking with a financial advisor. They have a lot more knowledge and expertise in this area.

[@Andreallln]

@@Bobhenry-c7z I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000

[@EvanLiam-w9s]

@@Andreallln pls how can I reach this expert, I need someone to help me manage my portfolio

[@Andreallln]

@@EvanLiam-w9s -Her name is. Sharon Crump Cline. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@EvanLiam-w9s]

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

[@Rubyruby287]

With a good investment plan that ensures steady income without any doubts I am prepared for a well organized retirement. I started investing in stocks 2 years ago and so far, I am making a good yield on my dividend.

[@Corrabeauty]

Not everyone is as lucky as you are. I want to give it a shot by I'm confused by all the info out there. How are you able to do it?

[@Rubyruby287]

Herman Jonas, a licensed FA has undoubtedly helped me make so much progress. He has guided me to identify key stocks, (options and futures) for the short term and Roth IRA, index funds, cryptocurrency, and ETFs, for the long term pinpointed strategic entry points, and provided risk assessments, ensuring that my decisions align with market dynamics for optimal returns.

[@Brunhild386]

Do not forget that when it comes to the financial market, prices can be erratic, rising and declining quickly, often in relation to companies' policies, which individual investors do not influence.

[@Baptisizm]

Just turned 49 and have nothing to my name. How can I reach him? I'd like to make better financial decisions if it's not too late.

[@Rubyruby287]

Hermanw jonas that’s his gmail okay

[@concernedcitizen4579]

Have your house paid off and live well below your means

[@Ozymandias-r2v]

paying off your house is stupid. You should always do a cash out when the equity in your home exceeds the homestead protection laws in your state.

[@paraax]

Not to mention, a lot of my salary today goes to retirement savings. Eliminate house and retirement costs trims things significantly

[@JM.5387]

@@paraax I think that's where the "replace 80% of your income" guideline comes from.

[@thebossmj79]

It's very location, lifestyle and health dependent.

[@machinesnmetal]

I'm not sure how this all works, I retired 3 years ago with 750k in my retirement/investment account, I've been drawing 4% a year for the past 3 years and I'm today at 910k.

[@Raiver-of-Eridu]

Because the stock market is in an unprecedented bull market. In a bear market, retirees will not see those results.

[@machinesnmetal]

@@Raiver-of-Eridu I thought we were in a recession/depression

[@Kinsale101]

​@@machinesnmetal we are not

[@xiphoid2011]

​@@machinesnmetaltoo many Trump supports are spreading this to misinformation trying to get the orange man back in office. 😂

[@theclothingcottage]

I'm thinking if you can live off just the interest then you're good. I'm in mostly s and p 500 index funds and they do 10-12%. Yes I know everything can go to hell, but you have to start somewhere. The more you can get invested the better as well.

[@Nonsense116]

I think "retire comfortably" should be better defined. Personally when I hear "retire comfortably" I think golf courses, eating out, maybe a boat, that sort of thing. A relatively high standard of living. So for me "what do I need to retire to be ok" and "what do I need to retire comfortably" are two different questions.

[@grego6278]

Planning to retire in 20 years? With rising inflation, the cost to maintain your current lifestyle could reach $2.6 million or more. The combination of high inflation, lower projected stock market returns, and stagnant wages makes securing an early retirement more challenging than ever

[@cedrdar]

@@grego6278I’d like your sources on all that negativity. Inflation is currently below 3%, close to historical norms. The market has returned an excellent percentage over the past 20 years, and this video just demonstrated why you don’t necessarily need anything close to $1.8 million to retire, let alone $2.6 million.

[@asmodiusjones9563]

To me it means being able to not work. I don’t need a stupid boat or golf course to be happy. If I didn’t have to work I would be SO HAPPY, even if I just spent the rest of my life going to the library as my only recreational activity and eating just ramen.

[@CaedenV]

That is a crazy definition of "comfortable". Comfortable means not feeling pain... You aren't hungry, you aren't going without needs, and you are still living a similar lifestyle to what you had while working. Now...if you were floating a boat and trips to the golf course during your working years while not going into debt trying to look rich, then that would be comfortable. But if you aren't already doing that, then the standard for you would be retiring rich, not comfortable.

[@JM.5387]

A canoe is also a boat. Just saying.

[@jarjar45123]

Every single one of these videos completely ignores the need for assisted living and nursing care that is sometimes needed for one or both in a couple. That expense is astronomical.

[@xiphoid2011]

Not necessarily. There are many people with only social security income that lives in nursing homes. Also, remember Medicare and medicaid covers healthcare cost. Once you spend all of your asset othet than your house (that's protected) then you qualify for medicaid , which will cover what Medicare wouldn't.

[@theclothingcottage]

​@@xiphoid2011True. But those aren't the nicest of facilities. I think having a long term care policy may be the way to go.

[@anthonydooley3616]

At age 60, we should all purchase long term care insurance.

[@mightymouse9001]

@@anthonydooley3616haven’t looked into it being 29. But can long term care insurance be purchased now for less money? Why wait till 60

[@mightymouse9001]

@@xiphoid2011my wife has to visit those facilities. You don’t want to go to the included ones. Understaffed and nothing to do

[@AkinoriKobo]

I used to think that i need $1 million to retire, but the closer I am to retirement I feel like I need $2 million 😂

[@georgejetson4378]

I need about $20million

[@jackieboy1593]

It's best to work while you still can to shore things up

[@crytoworld-q4l]

I'm new to BTC and I've been making losses trying to make profit myself in trading.. I thought trading demo account is just like trading trading the real market... Can anyone help me out or at least advise me on what to do?

[@AngelaMary-f8Q]

Well...I will advise you should stop trading on your own if you keep losing and start trading with an expert because trading with an expert is the best strategy for newbie...

[@lovelytrumlp-01]

Trading without a professional guide....Hud i laugh you, because you will remain where you are or even make huge losses that will stop you from trading, this has been one of the biggest problem to new traders

[@RubyChamber-m9b]

Ms Rachael Campbell was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course from Rachael Campbell

[@Dejones-z2D]

The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional .

[@Eltonjohn-sir]

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

[@jujitsu84asdf73]

10:15 there is an error in his table. It shows that it would take you 43 years at 15%, but 47 years at 20%. This is the only spot in the table that goes UP while increasing the amount you save.

[@Elizabethwells-q7f]

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.

[@Thompson-e7h]

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.

[@BridgetMiller-]

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.

[@berniceburgos-]

I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.

[@BridgetMiller-]

“Jessica Lee Horst”, 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.

[@BrendaHorne-y7k]

I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.

[@Andreavince-v]

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.

[@Saviourtina-c4i]

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

[@Particamuwowo]

Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!

[@heatherj-o5j]

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

[@Particamuwowo]

I’m with Stacy Lynn Staples, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.

[@DanielleB.Wooten]

Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.

[@Peteliao]

I am 36 years old with net worth just shy of 5.3M I’m gonna retire in 2-3 years. It makes a big difference how much money you can save with no kids! They are the biggest expense anyone can have.

[@Humphrey-Cchannell]

Thanks for watching! My helpline is as follows. Firstly=> plus 1917, Secondly=>998, Lastly=>7580. I need to clarify a few things and share some important details with you. I'll be expecting your WA text.

[@georgejetson4378]

Why did it take you so long to amass a measly $5.3M?

[@Peteliao]

@@georgejetson4378 I was sort of stupid with my money in my early 20’s. I bought new cars and spent on things that i shouldn’t have. But I’m better with money now.

[@MB-uy5kh]

@@georgejetson4378😂

[@gmm5550]

funny how americans thinks they only can retire in america, living in se-asia like thailand with luxury better healthcare than most america cost less than 2k in a month.

[@kristalynn7877]

Well not all of us~ my husband and I have talked about moving to another country to retire many times, and we know people that have.

[@Porcelynnn]

Some ppl don’t want to live in another country lol

[@gmm5550]

@@Porcelynnn well.. americans are among the least well traveled in the whole western world. Many dont even know how the world "overseas" are have in mind that america is only 4% of the world population and pretty mediocre in every comparison with rest if the industrial western world

[@kristalynn7877]

@@Porcelynnn oh yeah and there’s this too 😂

[@laurenm.6320]

Some of us have family and friends…

[@TheNurseInvestors]

I think retiring in a less expensive country might be the way to go!

[@Constitution1789]

Yeah but if in the future the dollar isn't the world's reserve currency, then your dollars won't be able to afford even the least expensive country on earth.

[@givrally7634]

Oh yeah definitely. As a french person, we have very low salaries out there and what we get is taxed to hell and back, so the median worker earns 2k a month after taxes. My job is paid about three times less than similar positions in the US so I hate it, but I can't deny that this makes the place perfect for retirement. Americans have much higher disposable incomes over their whole career even after removing expenses and debts, so it's easier to save up for a nest egg, and the amount you need would be much smaller here, typically about $500k if you're using the "4.7% rule", a lot less if you have other sources of income like social security.

[@humphrey]

haha 🤣 might be! I heard SE Asia is good!

[@drew8235]

​@@givrally7634Well I know where I'm retiring then. Let me innnnnn. 😂

[@Warrior_Resisting_Colonialism]

Of course it is.

[@jacobwood3501]

"How expensive children are, but hopefully its a fulfilling thing to have" haha I definitely hope so, I have 4 of them. honestly worth it and we were still able to get a 15 year mortgage so the house will be paid off just after the first one graduates High school.

[@jennifergillies6023]

We have one child, no mortgage, no debts/loans, a college fund for one is doable. Keep it up, you are doing great!

[@SyphonGaming]

You can easily move to another country with 500k in saving and live out the rest of your life in peace

[@tomv7986]

My plan. 1.8 million sounds insane for most people outside of the US.

[@glenburr6755]

I think I can do that in the US. 🇺🇸

[@BKCC420]

Especially, to a country which has a decent health care system.....Where, a simple dental appointment doesnt require you to fill paperwork which is about 20-25 pages for an earliest appointment which will be a couple of months away... I visited India, about six months ago....Dental cleaning, filling and checkout was 45 mins long. Walkin...And no one asked me for my Insurance. My previous experience says that I dont need to go to a dentist for another couple of years....By the way, the cost of the treatment was about 100$...No fancy front office, no hitech gadgets. Good reliable hospital equipment and easily accessible..

[@JM.5387]

Life is with people. Don't underestimate the importance of living near family and friends in your old age.

[@imveryhungry112]

Thailand!

[@Linette-g-y]

So far, I'm doing good approaching retirement with about 800k in savings, but transitioning from building wealth to spending can be scary, especially with soaring inflation. My question is, after maxing out my tax-advantaged retirement accounts, what next?

[@JayMomoa-4]

in my opinion, some financial situations can be handled on your own if you research enough, while others are best navigated in consultation with a financial advisor

[@mette-lo]

Agreed, the role of advisors an only be overlooked but not denied. I was shocked that I made more money with investing than hard work, not even my CEO income. Earning ''return on investment'' fetched me millions within a space of 5 yrs.(But I still enjoy working)

[@albertzalez32]

sounds great! i've never utilized a financial advisor but enthused about making money from the stock market, could you be kind enough with info of the advisor guiding you please? I could really use some help

[@mette-lo]

Katherine Nance Dietz is the licensed advisor I use. Just google the name and you’d find necessary details. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.

[@AstridJohansen-z]

excellent share, curiously inputted Katherine Nance Dietz on the internet, spotted her consulting page ranked top and was able to schedule a call session. Ive seen commentaries about advisors but not one looks this phenomenal

[@dforrest4503]

The key thing isn’t replacing a certain percent of income, but of expenses. Also, people’s expenses are generally more when they are younger and more active. So any static withdrawal rate is kind of ridiculous.

[@ArchieJohnson5h]

I recently lost my job at the age of 45. In addition to having access to Tricare and VA healthcare, I also receive a 9K military pension. I'm thinking of selling or renting my house and moving overseas with my cash, assets, and 401(k). What are some good passive income opportunities?

[@SOFIACAULIFLOWER-l3mstudy]

It makes sense to consider a financial advisor at this stage, but delaying retirement might be a smarter choice

[@ArchieJohnson5h]

reluctant to return to work. I'm not sure whether I should merge all of my investing accounts into one. If so, what should I know and how should I respond to this? In addition, I intend to sell my property, which might potentially fetch an additional $200,000. Is it better to put everything in one account or spread it out among several investments?

[@FreemanJameZ]

These are important questions for a financial planner. I met mine at a summit, and with her assistance, my wife and I reallocate our $1.7 million assets between a regular IRA and a brokerage account. She has been handling the investment with our agreement and has helped us recover twice as much as we lost. Currently holding steady and gently navigating the market.

[@RhysHuntoffice]

That’s impressive! My portfolio has been struggling. Who is your advisor?

[@FreemanJameZ]

June Renae Matthysse. Look her up online, she's well-known.

[@jackchoy6969]

Can you imagine Elon Musk retiring today and decided to follow the 4.7% rule? It would be like watching the movie "Brewster's Millions" where Richard Pryor is trying to spend $30 million in 30 days, but Elon would have to do that in one day. He'd probably spend it on propping up his addiction: Twitter. 🤣

[@anthonydooley3616]

Notice that Elon doesn't own a house to live in? Smart guy.

[@jackchoy6969]

@@anthonydooley3616 Because he rarely spends time in his mansions so he sold them all. Instead his residence is now a $50K box in Boca Chica, but likely sleeps in one of his multiple private jets.

[@cedrdar]

@@anthonydooley3616 How is that smart?

[@Bobhenry-c7z]

Overall, most investors like me still think this year would favor stocks, and other equity-based investments over cash-like investments. I’m only looking for opportunities in the market that can yield huge profits and hedge against recession.

[@Patriciabanks5]

My husband and I were fortunate enough to be able to pay off our mortgage early. We were both still working, and took the payment amount that we had been using to pay off our mortgage faster and we put it straight into investments. We were able to retire early because of almost 7 years of putting away what would have been our mortgage payment as well as maxing out our 401K/403B plans. Thankfully we were taught by both of our parents the value of living within our means.

[@carolpaige2]

Thank you for your advice. I know it will help people. we are interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?

[@frankbarnes22]

Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.

[@Patriciabanks5]

Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.

[@carolpaige2]

How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

[@Patriciabanks5]

Carol Vivian Constable is the licensed advisor I use.Just research the name. You'd find necessary details to work with to set up an appointment.

[@Bobventk]

8:48 excuse me? Social security benefits DECREASE the older you get? Not only is this wrong, is backwards lol

[@lotsaspaghetticodejr.6488]

Personally, if I had $2m in an account that made 4% annually, that is $80,000. I could live off of $80,000 quite comfortably. That is because I personally don't like extravagant lifestyles. I'm okay with sitting on a small boat fishing the afternoon away. Hiking in the woods. Going camping. I haven't owned a television in 7 years. I have two paid off vehicles, and a small home with about $100,000 left on the mortgage principal. My monthly payment is only $950 For me, $80,000 is more than enough to sustain happiness.

[@cathychi2009]

Likely no wife nor kids?

[@c7042-u5g]

I retired at 48 with $170K savings. Now 17 years of not working at all (75), I now have $260K and I didn't feel any squeeze at all. IMO you retire when you have to (being worn out) and live according to your savings. If you have more than one half a wit, you'll make it work for you. My out was to grow my savings in the market. It does require diligence, math skills, and common sense.

[@e-man1634]

First off your math doesn't work. You retired at 48 and 17 years of not working. 48+17=65. I'm assuming you're saying the (75) is your current age? Can you explain exactly how drawing enough money to live per year with 170k in your 401k for the last 17 years you now have 260, especially when the market took a humongous dive during the crash of 2020 and took a few years to recover? The numbers aren't jiving as 170k to retire on vs. what things cost aren't adding up. The only way those numbers add up is you were withdrawing a extremely low amount per year, basically much much lower than what the average person would need

[@Wraith983]

If they're 75, it's the old retirement plans. For example the federal government used to use CRS, now it's fers.

[@JM.5387]

I call BS.

[@FusunTumsavas-cq7tp]

I'm no longer confident in my strategy following the recession. I'm approaching retirement with comfortable millions. What's the most effective strategy to protect my cash reserve?

[@xlerb2286]

I'm doing it a little differently, I didn't have a specific dollar amount in mind. Instead we worked out how we wanted to balance investing for the future vs. enjoying life today, putting as much towards the future as we could without shorting the present. And we'd adjust the when's and what's of retirement based on what we have. I ran the numbers this spring and I could retire and still have the same budget as when working even leaving Soc Sec totally out of the picture. So I retired a little early at 63. That's not too bad considering at 35 I'd just entered the job market and had a net worth of about zero (I'd worked in a family business before that, good times, good memories, not much money).

[@hannahbrownnn]

Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $100 to 250k into trading from just few months ago and now they are multimillionaires.

[@jessieyoung-szn]

Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional.

[@lukefisherDD]

Having an investment advisor is the best approach to the stock market right now. I was going solo without much success until my wife introduced me to an advisor. I've achieved over 80% capital growth this year, excluding dividends.

[@JanAlston-kd6yl]

Talking about a financial market specialist, do you consider anyone worthy of recommendations? I have about 100k to test the waters now that large cap stocks are at a discount... Thanks

[@lukefisherDD]

NYCOLE CHRISTINA VANNATA a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.

[@KevinEvans-mq4ob]

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

[@dantheman6607]

You don’t need that much saved if you have a decent pension and SS, with those 2 you might only need $500k in an IRA

[@Ajbomber14]

You aren't retiring early on a pension plan. They need 40-50 years of service to the same company. But if you plan to work to 65 anyway, then sure.

[@dawnt5587]

@@Ajbomber14My husband retired at 50 and I retired at 52. We both have state pensions. Life is good.

[@user-pt-67066G]

what pension?

[@Wraith983]

​@@Ajbomber14the federal government only needs 20 or 25 under 50

[@dantheman6607]

@@Ajbomber14 Not true my private sector employer’s pension begins at age 55 for early retirement.

[@juicyfruit100x]

I like Dave Ramsey's 8% rule, which is not backed up by any research papers 🤣😂

[@Warrior_Resisting_Colonialism]

lol He must have thought, by doubling the amount most claim, he could sound twice as smart.

[@stevo4424]

8% is easily achievable... all you have to do is think!!! I understand alot of people unfortunately struggle with thinking and number's... im a pure example and live off 8% in my portfolio and absolutely thriving 😎 👊

[@toulor3403]

🤣😂

[@anthonydooley3616]

@@Warrior_Resisting_Colonialism Dave is far wealthier than William Bengen who invented the 4% rule, then changed his mind later. At least twice as smart.

[@DEEZEEMTB]

Dave is a kook. His baby steps are for a specific audience NOT everyone. Until he comes off the “pay off the mortgage ALWAYS “ stance he lacks credibility.

[@bluegillmich]

I know a 75 year old and a 67 year old still working fulltime with me, scared and you know retirement is the next step next to death, therefore they are two steps away from dying if they stay working..?? .....mostly, it makes me sad

[@Ittakesonelifetolearnhowtolive]

Social security isn't going away.

[@110thtimesacharm]

I’m not a boomer so I don’t want to leave a massive shit sandwich to my kids. So I’m not trying to die with zero and will be leaving a lot to them so they aren’t fucked. Again unlike every boomer did. Why do zero YT finance channels look at it this way?

[@Mario-h5x]

Very nice job covering the basics. I am sharing this not to brag but to show what’s possible. I’m retired and I have 2 separate portfolios. One is a long term growth dividend portfolio of stocks where i sell covered calls strategically and my 2nd portfolio is the Crypto trading strategy where its all about income. This year I am on pace to make $120K in realized options profits and around $730K in crypto profit... What is great is that my long-term portfolio is still up significantly as well. As such, it’s possible to generate excellent income but still have a total return perspective. ...Amidst this, the insights of a knowledgeable guide like that of Sandy Barclays can be crucial. Her expertise in navigating the nuances of trading has been the key for Me understanding and making the most of these emerging financial trends.

[@Patrick-n5f1e]

If the market has taught me anything, it's that it always recovers, but I can't seem to focus on the long run, when major factors like my retirement and my reserve are wreaking havoc on inflation. I require a solid data trajectory and solution as soon as possible.

[@jchall12]

I appreciate the professionalism and dedication of the team behind Sandy’s trade signal service.

[@SharaizIqbal]

Over the years, I've been a part of numerous trading programs, sifting through a barrage of information. Yet, nothing has come close to the sheer clarity, depth, and precision of Sandy insights. It's akin to finding a diamond in a coal mine.

[@svcalvin]

Recession are unavailable part of the economic cycle, all you can do is prepared for them and plan accordingly.

[@gnewman21]

Sandy goes deeper than just looking at surface-level trends. she explores technical, fundamental, and sentiment analysis, offering a comprehensive perspective on the market..

[@ai8438]

Does 4% rule take into account the inflation. We have seen hyper inflation after pandemic. There is no deflation after that, just inflation rate went down. huge difference between two that people sometimes don't take into account.

[@JM.5387]

Yes it does. Bill Bengen based the 4% rule on the 1970's, when inflation was often double-digit, maxing out at 14%. In 2022 after the pandemic, inflation was briefly 8% but then quickly went down from there. Hardly "hyperinflation".

[@dennisbolink7659]

Ran the numbers with a retirement/financial advisor. Things work a little bit differently here in the Netherlands, but long story short, we could retire very comfortably on 400k at the age of 65. We are now in our late 30’s and we have that just about locked in.

[@MsAmazon77]

Thank you for the VERY useful video!

[@Lycan3303]

Moving to a cheaper state or country also helps

[@staeit1]

This seems absolutely stupid. Why would the goal ever be to deplete your investment by death. The goal should be to have enough that your retirement investment does not go down, it goes up, since it increases more quickly than you spend it. Then you pass it to loved ones

[@whodis000]

I literally dont plan on retiring, when I feel its time for me ill stop working and die

[@Humphrey-Cchannell]

Thanks for watching! My helpline is as follows. Firstly=> plus 1917, Secondly=>998, Lastly=>7580. I need to clarify a few things and share some important details with you. I'll be expecting your WA text.

[@dantheman6607]

I hope you’re joking 😅

[@twistedtitan5485]

Uncle Sam thanks your for your stupidity, I mean sacrifice for your fellow man.

[@JM.5387]

Lots of people found out the hard way during the pandemic that you don't always control how long you work.

[@MKK-wg7fz]

Health insurance costs during retirement are so high. 😣.

[@NateBee]

Yep, everyone should be contributing to their HSA accounts if they have an HDHP

[@glenburr6755]

I qualify for Obamacare subsidies because I only withdraw 40k a year. I only see my Dr for an annual exam. Around $50 a month… Be poor on paper!

[@JaNa-ge6rk]

Avoid standard American diet (SAD) at all cost and start healing your body. Many people fear this statement even if it has scientific basis NOT in the mainstream media.

[@gingerkilkus]

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.

[@CharlesArthur-fq5sx]

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.

[@BernardFrederick-tk7un]

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.

[@Bellaelena549]

@@BernardFrederick-tk7un I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.

[@BernardFrederick-tk7un]

Annette Marie Holt 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.

[@Franklin-gq4si]

Thanks for clearing that up, I curiously searched for Annette Marie Holt on the internet and thankfully, I came across her my goal is to retire in 3years time.

[@getinthespace7715]

I'm shooting for $2.5 million in outside retirement investments by 50 and $3 million in retirement investments by 60. We are living on 30% of our income and investing the rest to fund that retirement at 50 or sooner. We are intending to create generational wealth.

[@JamesThompson-oh4yd]

I really appreciate the dedication in each video you post. To be successful one has to have multiple income streams and so on, also investors should understand the crossover between asset classes & liquidity flow, joanna claire focuses on Multi-asset trading, a single strategy to manage risk, profit, and the code or the actual decision-making across multi-asset classes. Her skills set is top notch

[@JaeyoungPerry]

She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed Broker and a FINRA AGENT in the United States.

[@AdekunleFolawe]

You trade with joanna claire too? Wow that woman has been a blessing to me and my family

[@MikeRicky-k7j]

I’m new at this, how can I reach her?

[@MccarthyRoy-e1l]

I was skeptical at first until I decided to try. It’s huge returns is awesome! I can’t say much.

[@JamesThompson-oh4yd]

she's mostly on Telegrams, with the user name.

[@MidnightWidow-NightRaven]

How do you factor taxes and inflation with the Networthify calculator? I'm trying to figure that out and it feels off to put my gross income and after tax spending number.

[@Jersey1971]

I just had to cut my investing by half because of inflation,high insurance and increased taxes I can pretty much forget about getting that 1M

[@MidnightWidow-NightRaven]

@@Jersey1971 Sounds like a personal problem and not of any use to my situation.

[@Jersey1971]

@@MidnightWidow-NightRaven 👍

[@kristinlowther6260]

@@MidnightWidow-NightRavenYou’re rude.

[@MidnightWidow-NightRaven]

@@kristinlowther6260 It's not being rude. I don't appreciate doom and gloom responses to my comments.

[@mavtek]

Retirement funds can be withdrawn early without penalty. There are options for that, look up the rule of 55 and the 72t rule. Both options are for people who want to use those funds prior to 59.5.

[@dkgong]

I could probably live off half that in retirement since I don't have an extravagant lifestyle.

[@Joenzinator]

I'm just going to plan on retiring with over $10mil. That should be enough. Not sure why Humphrey says retirees should want to spend all of their money before dying. I'd rather leave my kids and grandkids a few million bucks each.

[@chaselesser3191]

That’s what I’m saying. I’m not saving just to I can be ok. I’m saving so my kids can be ok too. And maybe push them further than my parents were able to push me.

[@ApoplecticDialectics]

I swear, this number rises every month. By 2026, people will be insisting they need $1 billion for retirement.

[@bvoyelr]

Just do your own math. Track your expenses over the course of a year and divide it by .047. That's the 4.7% rule. Do .04 if you go by the 4% rule. The number that's output will be what you need to retire on if you never want your balance to decline. Once you do that, particularly if you're young, you can decide you don't want to be a part of that nonsense. Then go Dave Ramsey mode and start radically eliminating all forms of debt and personal expenditure. Suddenly that $1.8 million will turn into $1.2 million.

[@ScooterOnHisWay2024]

There is NO magic number. You just have to have $1 more than you spend on your dying day.

[@ryandefranco7740]

Hi, Humphrey. Question... I'm mid-30s. I have a paid off house and car. I don't expect that to change in retirement. I keep track of my expenditures in Monarch Money religiously. Right now, my yearly expenditures, all-in (travel, gym, food, etc.), are around $36-40k, which is MUCH below 80% of my yearly salary. Even as I age and medical costs increase, I am at a loss trying to understand how I could possibly spend 80% of my current yearly salary per year while in retirement. Is there some big factor that I am missing that would drive my yearly costs from $36-40k to well into the six figures/year while in retirement? Again, even with medical costs, I just don't see myself having to spend THAT much.

[@larryly3613]

I'm in the same position (house and car paid off), but my expenses are higher. Closer to $50-60K. 1st question is do you live in a low cost region? 2nd you must factor in health care in retirement which can range wildly, but if you err on conservative side, I would add $10-$15K annually. 3rd, taxes. Yes you will still have to pay taxes on your income. 4th what about what you might be doing in retirement, i.e. hobbies cost money! 5th upkeep of house and car.

[@Johanneslol11]

The biggest point you are missing is inflation and lifestyle inflation. You might get childeren later or for example buying a bigger house. Also calculate in that when you are older you might need to hire more people for doing small things you can do fine yourself now…

[@anthonydooley3616]

Inflation, property taxes, and insurance will double your expenses in 15 years.

[@shea455]

I don't believe percentage of income is a good measure for how you are going to fund your outgo. My income is extremely high, and my planned outgo will be a generous middle-class. I'm not trying to replace my income, I'm instead trying to fund my outgo. I have not allowed much lifestyle creep... some, for certain. For Social Security, we've discounted it down to 70% of our benefit as that's what most are expecting it to be.

[@bernaclischurchill4463]

I'm retired and have been for almost 5 yrs now. I retired before the pandemic, which although it was horrible, it worked in the respect of stopping me from spend more than I would have probably spent at the beginning of my retirement. I retired with SS and a pension, which because of no debt & living at my present location, covers all of my daily expenses. If I were to move, however that probably would not be the case. Thus, I retired without a 1 million dollars . I followed this life mantra, "if you did not need a million dollars to live your life up to this point, why would you need a million dollars to retire on."

[@TheMazTheSpaz]

I've just decided to work till max social security, gives me enough time/chance to have the mortgage paid off prior to retiring.

[@Humphrey-Cchannell]

Thanks for watching! My helpline is as follows. Firstly=> plus 1917, Secondly=>998, Lastly=>7580. I need to clarify a few things and share some important details with you. I'll be expecting your WA text.

[@dantheman6607]

What about early retirement? Some people can’t work their job at 67

[@glenburr6755]

Why not enjoy life when you still can? Figure out your monthly expenses, and weigh that against what you have and will be getting in SS.

[@eplugplay8409]

My goal is 3-4M at least to retire.

[@nikij.6058]

Why?

[@Thebignagro]

Mine is 1.67m I have a long way to go I only have 40k networth lol looks like I'm working till 70

[@jennifergillies6023]

​@@nikij.6058good question

[@ScooterOnHisWay2024]

You don't need 20% of that much money.

[@mav1877]

I would actually agree that 4.7% rule is doable depending on your portfolio assets and your income in retirement. I've done my own calculations. Of course, it does mean you need a bigger retirement savings when you retire. 4% is fine but rather conservative.

[@jeffmiller1140]

Your videos are outstanding! Thank you, Humphrey!!

[@archmaesterofpullups]

I expect to need about 100k/year in today's money in retirement, which would mean 2.5M for the 4% rule. The more aggressive withdraw rates also presuppose a low post-retirement life expectancy but I plan on retiring in my early 40s so should be able to sustain myself for at least 50 years on it.

[@aleue]

By knowing what inflation actually was, you will know what percent of your return to add to the nest egg so that your standards of living doesn't decline over time due to inflation. Know the tax costs of what you remove.

[@ELIjuzDatBOy]

😊People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.

[@TerranceAblao]

Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.

[@moparalex]

Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit

[@henrycbn]

I'm surprised that you just mentioned and recommend Mr Brian Nelson. I met him at a conference in 2018 and we have been working together ever since.

[@MankerRalph]

Any specific guide. I'm from Georgia how do I go about this? I think I'm interested how can I get in touch with Mr Brian Nelson

[@moparalex]

he's mostly on Telegrams, using the user-name

[@RaymondKeen.]

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…

[@BellamyGriffin19]

If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.

[@DorathyJoy]

You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst

[@ScottKindle-bk3hx]

Could you possibly recommend a CFA you've consulted with?

[@DorathyJoy]

My CFA ’Sophia Maurine Lanting , 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 saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.

[@tylermiller1699]

Where i get lost is if I'm only taking out 4% but the market is giving me roughly 8-10 % per year, how would I ever run out of money?

[@palantirresearch]

Currently 30, aiming for $3M individually but $5M combined with my wife in 30 years. Sounds like a lot but who knows what a 2060 Big Mac will cost 😂

[@Humphrey-Cchannell]

Thanks for watching! My helpline is as follows. Firstly=> plus 1917, Secondly=>998, Lastly=>7580. I need to clarify a few things and share some important details with you. I'll be expecting your WA text.

[@anthonydooley3616]

Very achievable.

[@CaedenV]

The biggest disconnect on "what is needed to retire" is simply when. My own goal is right around $1.5M.... But that is still decades away. If I was retiring today, and my house was paid off, then I could probably retire on $3-500k. The difference in numbers is purely that normal 2-3% average inflation.

[@LowInformation]

I'm 42, had to take off 6 weeks to avoid 2240 for salaried workers. I was fine with 500/week at home and not bored. My projection is 1.6 mil by 57, I can retire then or fully retire at 59 with 1.8 mil.

[@ki2000ki]

Property tax $5600/ year, vehicle insurance $1200/ year, home owner insurance $900/ year, condo fee $8280/year, phone bill , gas , utilities $4800/ year excise tax $350.00, that’s about $20780/ year. To cover basic expenses living in greater Boston area. It’s a very tight budget to live on $50000.00 / year before federal tax.

[@justlikekingsolomon]

I’m 55 from southeastern Ohio but worked overseas all my life. I have savings of $1,000,000 and I'm ready for retirement, only concerned about the soaring inflation. Is this enough to retire comfortably, or do I need some sort of money management?

[@verycautiousbeing]

Glad to hear from another buckeye! comfortable retirement depends on your lifestyle...

[@beautifulpeoplealways]

I would get money management just in case. You’re only 55. I think the average life execting in the US is 77.5 years, but many people live well into their 80s so that $1 million has to last you all of that and the unforeseen. $1m is a great start though. Good for you!

[@chadgriffith1969]

I’m quite lucky exposed to personal finance at early age, started job 19, purchased first home 28. Going forward, got laid-off at 45 just after covid-outbreak, and at once hired an advisor with grit to help stay afloat. As of today, my portfolio has yielded over 300%, summing up $836k. Stay motivated friends

[@J.woltz48]

this is huge! your advsor must be grade A, mind sharing more info pleas? in dire need of proper asset allocation

[@chadgriffith1969]

Can't divulge much, I delegate my excesses to someone of great expertise "Annette Louise Connors" preferably you can look her up on the web, her qualifications speak for itself.

[@Metenos]

I think a big thing to note here is that the Current annual income in the calculator assumes that it is after taxes. You can see this if you click "Show assumptions" on the top right of the graph. This means that it's actually a lot easier to save a bigger percent of your money compared to your actually gross income.

[@EJBert]

Americans need $1.8 million, have on average $334,000. I dunno, there's no one size fits all to retirement!

[@williamryan6794]

Americans "want" $1.8 million, but end up retiring with far less. That's the truth.

[@thomaschew2191]

I have worked the numbers and scenarios in every possible way for the two of us. No debt, paid for home, low COL area, kids grown. We could retire with a decent lifestyle with just $400K saved. That would be the low end. Anything above $800K is fantastic but we want the one million invested before we pull the plug. We are approx 5 years from the one million invested.

[@KJFC388]

Do 60/40 of various indexes. Pay yourself 5% of your portfolio balance each year. In good years , you’ll have a little extra. By taking 5% at year end, you’ll be accounting for portfolio performance.

[@TimeSpace1]

Something to note about networthify is annual income should be your AFTER tax income... and your expenses should be your forecasted retirement expenses. For example.. my expenses are about 80k a year... i'm targeting retirement at age 40... thats 6 years from now.. assuming an inflation rate of 2.9% a year.. my expenses at age 40 would be $95,520 a year

[@geosci1]

According to my company’s 403B record keeper’s retirement calculator and advisors I am going to be destitute if I retire with 2.8 million in my account.😂

[@builtfordtuff530]

Lol who TF living on $40k/yr. GTFOH

[@finned958]

You might outlast your money, but there are other expenses. What if you suddenly got a terminal illness? What if you must support a wife who lives longer? What if you need long term care? Social security and a pension will make it easier to withdraw less money from retirement accounts. I already predict $5K a month from SS and pensions. Then Medicare takes care of health insurance needs.

[@DannyLang1]

random question: do you consult with the publishers / owners of all the graphics and data you've showcased with a copyright lawyer and buy the rights to use them in your videos? You take alot of stuff from the internet but I'm pretty sure there's copyright restrictions on alot of the screencaps you show?

[@krislimpus]

4-5% withdrawal rate on 2 million in todays world gets you by unless your house is paid for. No debt and have one kid cost $6-7K a month baseline right now. In 20-30 years at this inflation rate 2 million will be just enough to get by.

[@cynthiadeg9206]

Let’s say you have a modest house paid for. You get 40k retirement. Bills are 2.5 k per month You have say 300k in a fund You take out 2percent from fund per year at 6 k, leaving the balance to grow at, say 4.5 percent At 22 percent tax rate, this gives you more than 3 k to live on. I’m not good at math, but 3 k is more than 2.5 k If you’re bored, get a part time job to pay food and utilities, which means you’re expenses are reduced ( in a way) by 700, if that’s how much the part time earns. Of course have a nest egg in cash for emergencies set aside You don’t need a million

[@dantheman6607]

The problem there is most people need 4-5 thousand a month just to live. Food, health insurance, HO insurance, etc.

[@ordinaryhuman5645]

Whatever number you pick, you'll almost certainly end up with a higher one when you get there. Partly from inflation (lifestyle and monetary), and partly from last minute "one more year" caution or uncertainty around how you'll be living and spending in retirement (especially if you're still young enough for to consider having a kid or something). My original number was $500k. Then I thought I'd want a paid off house on top of that. Now I have the paid off house and I'm approaching $1M excluding the house... thinking it might be nice to have a little more... like $1.5M including the house.

[@jragon355]

1.8m to retire comfortably sounds awfully low

[@volkereinsfeld5970]

Just a note, the calculator you linked to is broken and doesn't give accurate figures(specifically if you edit withdrawal rate), the more you withdraw, the earlier you can retire apparently!

[@seand99x]

Hey Humphrey, great video. Thanks for sharing. Quick clarification when you were talking about the 4.7% variant is that factoring early retirement like retiring in your 50’s or would that be more for traditional retirement age 65-67 years old! Thanks

[@peterrex8191]

Have your shelter expense controlled either paid off..or under rent control..next is food…and next is eat and live as healthy as possible..after that you are golden..life is not a tik tok video..don’t fall for illusions of wealth..you know what makes you happy do those things forget the rest..

[@gimmpy91]

As a 33 year old I’m only $25k way from a Quarter Million in stocks, savings and 401k. If I only do my 20 years in the military, I’ll retire from it at 41 years old with a minimum of 2k, assuming I have to pay for Health Care and ether survivor benefits for my pension or a separate life insurance policy. Obviously I’m not going to be FIRE because I’ll be in my prime, but it’s sad to know 95% of the population have no pension, almost nothing saved and will have to work well past retirement age.

[@Humphrey-Cchannell]

Thanks for watching! My helpline is as follows. Firstly=> plus 1917, Secondly=>998, Lastly=>7580. I need to clarify a few things and share some important details with you. I'll be expecting your WA text.

[@skeeteryeeter1799]

Pretty sure the 4% rule is indefinite. Monty Cristo calculator give a 60/40 portfolio a 99% success rate over 30 years. Also a high chance you end up with more money.

[@BKCC420]

Fidelity wants more money that it manages..So, it creates an element of anxiety in everyone....In the race to amass the money Fidelity is indicating, you do that at the cost of your quality of life and peace of mind. And dont forget the health part, it will be deteriorating...Basically, what they are saying is to make money while you are losing health and to only spend that money to manage the poor health later....Keep it simple, start downsizing your needs and start practicing a lifestyle of austerity while you are still earning. You will be fine.

[@7SideWays]

Loved the caricature of old suit working Boomer telling bro he can't retire yet. Stopped punching in at 31 in 2002. Keep expenses low and enjoy freedom💪

[@victorduny9842]

Fidelity and others want you to have millions because they make money off of you trying to save millions.

[@canyonblue737-8]

I think a ton of "average" Americans are simply massively adjusting their QOL and finances in retirement. I do think to live a dream retirement where you can retire at 65 or younger and remain active, travel, enjoy and purchase new things, continue to contribute generously to family etc. while protecting yourself in terms of health care etc. you probably do need those very large targeted goals, few just obtain them.

[@pjpankratz8829]

The Crystal ball question - the affect of inflation in 25, 30, 35 years out. - Thank you for the Calculator!

[@ashermitchell2794]

2:48 What about legacy planning? If I die with zero to pass to my family, I’d consider that a failure on my part.

[@tarikviaer-mcclymont5762]

In the future property tax might be 35/40 grand

[@robertkesselring]

I'm more a fan of dividend portfolios as opposed to any specific withdrawal rate. When your divs = your lifestyle, then you're ready to retire. When I die, my daughter will inherit my portfolio, and she can retire.

[@movia1234]

My parents in their late 70s are quite comfortable and never had close to 1.8 million. My dad has close to the top payout from social security and my mom's is decent as well. My dad does teach one course at a graduate level per semester which is pretty easy work for him, so not fully retired by choice.

[@jeffpoh4246]

Another concern he overlooks is many retirees have that extra 40hr per week to spend. Eating out more, more social activities, golf, more than 2 vacations per year, so some spend more in retirement than when they are working. Then add in eventually increased medical costs.

[@jt6231]

You forgot to factor in geography of where you will retire. 1.8 million sounds right for NYC and Bay Area and not in Mississippi for example.

[@vitalexp]

As a single AUD 4 million, house paid off, closer to 2 million USD.

[@jondoe4694]

What about inflation in your calculation?