Thanks for watching. How's your 401k balance? Let me know in the comments. Also...plz subscribe 🥹
@weliveinasimulation.3 ай бұрын
Switched 6 months ago from the T Rowe price age based fund to Fidelity S&P500 index fund FXAIX, much lower expense ratio and so far better performance as well. $200k balance at 35 yrs old. Almost maxing out at $20k a year. Want to switch to Roth 401k but also don't want to foot the large tax bill with hefty fixed monthly expenses such as mortgage, car loan and daycare etc.
@JohnJohn-nt9mf3 ай бұрын
Age 35, currently $67k in my 401k. but have ~$200k in all of my portfolio (401k, Roth IRA, Trad. Brokerage Account)
@tracyperry3093 ай бұрын
Can't stress enough for anyone who's in their 30s and younger, to get that 401k and Roth IRA set up! I did not get serious until my later 30s and believe me, I'm trying to play catch up and it's stressful while also raising teens. Also Humphrey, go eat at Stillwater at Pebble Beach - great restaurant!
@erikvenegas48693 ай бұрын
Started 10 months ago and just hit $10k!
@TheBDavis423 ай бұрын
31 $115K in my portfolio. Got some work to do but I’m getting there
@YadaniL-g8k2 күн бұрын
One of the most briIIiant investing advice i have ever gotten on youtube came from watching an interview with Julianne Iwersen Niemann on CNBC. Indeed, A solid investment strategy is like a well-planted tree-it can withstand storms and still grow strong
@MagdaleneM-f3q2 күн бұрын
That's great advice! Julianne Iwersen Niemann's perspective on investments as a long-term growth strategy, much like a well-planted tree, is a solid analogy. A good investment strategy should be resilient enough to endure market fluctuations while still growing over time. It's essential to have a strong plan that balances risk and reward, much like cultivating a tree that thrives even in tough conditions. Working with a seasoned expert like Julianne can help ensure your financial decisions lead to sustainable growth.
@LAILAKANDIL-hf3pi2 күн бұрын
I can only speak from my experience when I advise seeking professional advice. It looks like a smart bet if you don't know where to get an experienced one, but if you don't know anything about the market.
@jessicasquire2 күн бұрын
Mind if I ask you recommend this particular professional you use their service? i need all the guidance I can get.
@LAILAKANDIL-hf3pi2 күн бұрын
Her name is. 'JULIANNE IWERSEN NIEMANN’. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
@jessicasquire2 күн бұрын
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
@hersdera2 ай бұрын
It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
@berniceburgos-2 ай бұрын
For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.
@DorathyJoy2 ай бұрын
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
@SandraDave.2 ай бұрын
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
@DorathyJoy2 ай бұрын
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
@Hectorkante2 ай бұрын
she actually appears to be well-read and educated. I just did a Google search for her name and found her webpage, I appreciate you sharing
@MegatPage2 ай бұрын
It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
@cowell6212 ай бұрын
If you’re new to investing or have a more complex financial situation, It can be helpful to work with a financial advisor who can provide personalized guidance and help you make informed investment decisions.
@LiaStrings2 ай бұрын
On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal port-folio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my port-folio this red season. I’ve made over $150k since then
@StacieBMui2 ай бұрын
Due to the market falls, I need advice on how to rebuild my portfolio and develop more successful tactics. Where can I find this teacher?
@LiaStrings20 күн бұрын
Rebecca Nassar Dunne is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
@crystalcassandra559712 күн бұрын
Thank you so much! This is exactly what I needed right now. I wrote her an email and am waiting for her reply. Hopefully, she responds soon.
@ChristopherAbelmanАй бұрын
A Financial Planner told me Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. How can one take advantage of compound interest and potentially grow your retirement savings/net-worth to about $3M over time?
@JosephineKenneyАй бұрын
Just try to diversify your portfolio to other market sectors, that way your investment is balanced and you don’t get to make so much losses.
@PennyBergeron-os4chАй бұрын
I stopped listening and taking financial advise from these KZbinrs, because at the end of the day, I end up with a bunch of confusing stocks without knowing when to take profit, In reality, all I needed was professional advice.
@HildaBennetАй бұрын
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
@PennyBergeron-os4chАй бұрын
Google SONYA LEE MITCHELL and do your own research. She has portfolio management down to a science
@PennyBergeron-os4ch19 күн бұрын
’Rebecca Noblett Roberts’ is the manager I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
@scottarmstrong113 ай бұрын
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.
@emiliabucks333 ай бұрын
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?
@Johnlarry123 ай бұрын
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.
@scottarmstrong113 ай бұрын
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.
@emiliabucks333 ай бұрын
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.
@scottarmstrong113 ай бұрын
My CFA Carol Vivian Constable, 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.
@alexsteven.m641422 күн бұрын
Recently, I've been pondering retirement, unsure if my 401(k) and IRA will provide a stable future. I've also put $800K into the stock market, encountering fluctuations with limited gains. i need an approach that will align with my risk tolerance and financial goals
@mariahudson993922 күн бұрын
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
@belobelonce3522 күн бұрын
Opting for an inves-tment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2022
@KatyaSantos-g4c22 күн бұрын
I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.
@belobelonce358 күн бұрын
“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.
@NorthCarolinaForward8 күн бұрын
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
@ErikaBailey-x8g8 күн бұрын
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
@KevinAnderson-g1q8 күн бұрын
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
@ReginaDominique8 күн бұрын
It all depends on how long you're willing to hold for, stocks might likely tank further, but making serious gains in this downtrend wouldn't be a problem if you're a pro.Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
@EnriqueCarrasco-z3j8 күн бұрын
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
@ReginaDominique8 күн бұрын
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
@SlavoPetrovic8 күн бұрын
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
@NicholasBall130Ай бұрын
Recently retired and unsure if my 401(k) and IRA will provide a stable future. i need an approach that will align with my risk tolerance and financial goals, i set aside $1m to achieve this. Do you suggest i get into stocks or buy a rental property?
@cowell621Ай бұрын
Look up dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, its advisable you work with a financial advisor to help set up a well-structured portfolio.
@LiaStringsАй бұрын
On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal port-folio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my port-folio this red season. I’ve made over $150k since then
@StacieBMuiАй бұрын
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
@LiaStringsАй бұрын
I work with Sharon Marissa Wolfe as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
@LiaStrings7 күн бұрын
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.
@J_sso3 ай бұрын
Please never become a sellout like all the other financial youtubers. We need you , and thank you for everything 🙏
@danielnilson61153 ай бұрын
I'm learning that Humphrey is one of the few financial KZbinrs we can consistently trust
@humphrey3 ай бұрын
thank you Daniel
@marksherberg64583 ай бұрын
Never trust ANYONE on youtube
@JustGoVegan3 ай бұрын
Relax your anus@@marksherberg6458
@miketheyunggod25343 ай бұрын
Lol. They’re all crooks.
@saeedhossain60993 ай бұрын
@@miketheyunggod2534 depends on if they're selling a course or not, the in video promos are pretty easy to avoid. Humphrey's math does add up
@Miakate-f3lАй бұрын
I'm set to make $600,000 this year, and my net worth is north of seven figures, but I'm really worried. My portfolio has only grown 10% in the last five years, and I feel stuck. I desperately need to revamp my investments. Any advice on what to do with my money would be greatly appreciated.
@SofiapaateАй бұрын
This is what people that handle their portfolio themselves go through. I will advise you get yourself some professional advisor to help you make better portfolio decisions.
@Olivia-z5cАй бұрын
I agree, investing with the help of an advisor set me up for life with about $1.6m currently in stock portfolio. I max out my 401k and have few properties. I worked hard as a language tutor for 32 years, and my salary was just over 80k annually. It all boils down to consistent regular investing to minimize risks and maximize growth.
@Steven-u2uАй бұрын
I'm glad I found this conversation. I just started earning six figures and need investment help. Can you share how to contact your advisor?
@Olivia-z5cАй бұрын
I work with Jessica Lee Horst as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
@Jasonshelton-Ай бұрын
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
@jameswood97722 ай бұрын
I've kept much of my savings in cash for safety, but I'm unsure if it's right for retirement. Contemplating investing $400K in stocks, as I've heard investors can profit in tough times. Unsure about my next move.
@johnlennon2322 ай бұрын
It's impressive how much you saved during your working years, a feat not many achieve in a lifetime. Now that you're retired and rely on your investments, it's wise to redistribute your capital to mitigate risks during market fluctuations. Consulting a financial advisor can help simplify this process.
@alexyoung31262 ай бұрын
Yeah, I’m also closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who have been investing for many years.
@chris-pj7rk2 ай бұрын
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
@alexyoung31262 ай бұрын
Rachel Sarah Parrish is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
@chris-pj7rk2 ай бұрын
I looked up her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me.
@CrystalJoy-322 ай бұрын
What therefore should concern those of us over 50 with less than a million? I have a $500k Roth that I don't know how to build, therefore I'm concerned that I'm approaching too near to retirement.
@jose2212-2 ай бұрын
I was in a similar circumstance a few years ago. I was constantly anxious. After I decided to start working with a financial counselor and started receiving sizable monthly gains, my concern disappeared.
@RuthEvelyn-rc3bg2 ай бұрын
That's my approach too, even though I'm not retired. I've relied on a fiduciary to handle my portfolio for seven years, as I don't have time to research assets. This method has expanded my portfolio by up to 300% and helped navigate market volatility effectively. You might consider a similar strategy.
@DennisJack-km8ho2 ай бұрын
That is just amazing. I've attempted to employ a financial advisor by doing some research on my own, but it's somewhat daunting. Would you kindly refer the people you work with?
@RuthEvelyn-rc3bg2 ай бұрын
Amber Michelle Smith 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.
@albacus2400BC2 ай бұрын
Thank you for sharing, I must say she appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled
@joseph__71133 ай бұрын
This video simultaneously makes me feel better about my situation, and anxious about the rest of my family's future.
@FleurtyStudio3 ай бұрын
Same
@Mississippian5 күн бұрын
@joseph__7113 Same, I feel so good about how I go about my finances. But I think about my spouse and their planning and my anxiety is through the roof.
@FraserRyan-oz2bj3 ай бұрын
s a soon retiree, keeping my $401k on course after a rocky 2022 is top priority. I have been reading of lnvestors making up to $25Ok R0I in this current crashing market, any recommendations to scale up my R0I before retirement will be highly appreciated
@mandyyonge3 ай бұрын
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.
@RolandWingo3 ай бұрын
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
@mandyyonge3 ай бұрын
Yes my go to person is a 'LUCIA ALICIA CRUZ'(heart) So easy and compassionate Lady. You should take a look at her work
@RolandWingo3 ай бұрын
.Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
@TheKoptchak3 ай бұрын
The market is anything but crashing right now. My portfolios are up 16% YTD lol and it the most generic ETFs. I’m up 600% on my personal portfolio but that’s way less value than my retirement accounts and pretty risky, but still. It’s easy money in a bull market lol
@masterbaiter77573 ай бұрын
23 living with parents with 18.5k in 401k and 13k saved. Car payed off in 2 years bought it when I was 19.
@humphrey3 ай бұрын
great work!
@Fe26man3 ай бұрын
Yup, my parents blessed me to take me back in after my husband passed. He was doing unscrupulous activities and happened to have recently had drained every last penny, then had a heart attack (men be warned.) leaving me with nothing. I’m in a much better place now, thanks to them, I’m in my 30’s so have missed out on some decades of compound growth!!
@frawdulent3 ай бұрын
With a name like Master Baiter, I would assume you’re 23.
@eclektric3 ай бұрын
Don't worry one divorce can change that
@masterbaiter77573 ай бұрын
@@eclektric get married? Hell no 🤣
@spencerbets17853 ай бұрын
I’m 34yo with roughly $7k in my 401k but I have $43k in my Roth IRA and $12k in HSA. Maxing out my Roth and HSA and not using those funds for health expenses until retirement. Getting very close to being able to max my 401k yearly contribution but I’m 6 months into new job so that’s why I’m behind there.
@humphrey3 ай бұрын
Lets go, you are killing it still
@gregvanommeren56603 ай бұрын
@spencerbets1785 awesome job so far! Try to do Roth 401k if you can (as opposed to Traditional 401k). Tax rates will likely be going up in the coming years as a response to the ballooning US national debt.
@runeatexplorer77962 ай бұрын
Dude, keep at it and you won’t believe what you’ll have when you’re my age (48). You have more than I had at your age but I kept increasing my contribution maxing out at everything by 40 and adding what extra I had. Be patient, learn, live below your means (but occasionally treat your self), don’t worry about the downs, and perhaps experiment a little with risk (stocks) and you’ll be set. I’m retiring within the next 5 or 7 years with more money I can handle 😅.
@mariosengco88643 ай бұрын
You have the best content of its kind! One of your videos covers two to three topics covered by other creators. Your presentation is easy to understand, succinct, and entertaining. It’s never a slog listening to your videos. Keep up the great work! It’s definitely helping me.
@humphrey3 ай бұрын
thank you Mario
@Russelbobby45Ай бұрын
*Thank you😊 for this video, do you offer account management or have any recommendations?*
@SaraEsther242Ай бұрын
As a beginner investor, it's essential for you to have a guide. Myself I'm guided by Mrs Victoria K Walter, a widely known consultant
@JenniferLyndАй бұрын
If you’re using a good manager, it’s easier to earn from the market
@AustinSean-Ай бұрын
I've been trying to trade but I keep making losses and it's frustrating
@donalderic3642Ай бұрын
VICTORIA K WALTER is exceptionally good, i believe you should give her a try
@BradleyRaiphАй бұрын
There seems to be constant mention of "Victoria K Walter" everywhere I turn. Are the accolades and reviews truly worth her?
@Food4thought12343 ай бұрын
Please start asap!! I thought I started late at 28, but now in my mid 40s I thought I wasn’t doing too good. Nope I’m almost at 700g. I actually dropped my contribution to the min company matching. Because basically what I got now is going to continue to grow. Technically I think I could retire now, but the job is too good 😢😢 anyway not trying to boast. I’m just saying you really don’t get compound Interest and time. But more importantly you don’t understand the freedom to choose and not be worried. Even if you starting late don’t fret. Just do what you can. You will be surprised.
@nottoolive3 ай бұрын
Currently 26, only contributing my match from my employer. Rest of my contributions are in a roth. Have $400 in total. Started last month
@humphrey3 ай бұрын
Congrats, great to get the ball started
@AmariMarvelous3 ай бұрын
Keep going!
@MaSa-bp5qe2 ай бұрын
That’s really good. I started saving at almost 29, so in my point of view you’re ahead of schedule. Lol
@DoubleJabSlipRightHand3 ай бұрын
I'm 35 with $145k in a IRA and $27k in a 457b. I also can collect a pension at 52 years old. I also have 6k in crypto and 25k in a regular brokerage account. 50k cash in CDs. I have a GED and grew up without parents and managed to educate myself on finances when I got my first job at McDonald's at 17.
@TioMogi3 ай бұрын
@@BlakeC341 hey smarty pants, he could be waiting to deploy on a house soon and doesn't want to risk short term volatility in the market.
@ssimulacron67223 ай бұрын
@@TioMogi Smarty Pants? Such Language!
@mikebarton86712 ай бұрын
Good work.
@brandonmc012 ай бұрын
Killing it, good job!
@MK-fm3ln2 ай бұрын
Nice. I am 38, only have 160 in 401k but have almost 800 in a taxable brokerage account. Don’t have a house yet though
@rambleonfinance3 ай бұрын
Canadian. 39 years old. Modest home (paid), crap car (paid), investment property (paid) but not much in investment accounts. Company pension. Stocks in TFSA. Net worth is about $881,000 and there is zero debt. My income is not great but I am a good saver. (cheap AF)
@laundrygoddess43 ай бұрын
I'm canadian and you're very fortunate to have a pension. You have a huge step up
@o0usf0o3 ай бұрын
Roughly the same! 39yo with $810k net worth. My friends are buying cars and I’m buying time!
@jaymoney85183 ай бұрын
I'm 38 and I have $220k in my 401K. I just started a Roth IRA and trying to put whatever I can in it. I feel like I am in good shape, I hope
@barbieshs777Ай бұрын
Good job!
@KPad873 ай бұрын
I’m 37 single no kids been investing since I was 19 years old now I have 340k in my tsp/ Roth combined . Very thankful .
@LuisVelazquezLV33 ай бұрын
well done! congrats!
@RobertBeedle3 ай бұрын
Easily $1 million by 50
@KPad873 ай бұрын
@@RobertBeedle that’s the goal or maybe even earlier .
@xungngo3 ай бұрын
Excellent! Continue putting $500/month into C-Fund and you will get your 4.8mil by 62(retirement age). Or even at 57 FERS eligible for 30+ years of service. Money should not be an issue for your retirement, unless you need a luxury yacht.
@KPad873 ай бұрын
@@xungngo yes sir that’s my plan . 70 C / 30 S .
@jaywavy57342 ай бұрын
I’m 30 with only $4600 in my 401k. I started last year..maybe a little under 2 years ago. It’s never too late
@kkbox11253 ай бұрын
Our household has accumulated 450k in 401k and 50k in hsa and we are at the age of 34. Without the data, i don't even know we are doing fairly great in our age group. Our saving rate for the past two years were close to 40% at 400k HHI in a HCOL area. We are very aggressively saving and still drive a 2006 Honda Civic (Super low maintenance which i love it). Keeping lifestyle inflation in check is definitely an important routine. We are those type of people who would review/adjust the fund selection at the end of every year and forget it till we need to reset my brokerage passwords next time trying logging in... and i just learnt a new words coast and barista FIRE today, thanks for bringing that up, it probably open up an option for us!
@Liveloud4Him3 ай бұрын
That’s amazing!! You are my hero! Hopefully my husband and I can be half that at your age!
@bmgrosso3 ай бұрын
I'm 33 and have $41k between my IRA and 401k but I didn't start contributing until I turned 30, I contribute about 18% of my income which includes a 7% employer match
@humphrey3 ай бұрын
Thats good. 18% is crazy! Still early enough, dont worry. Keep it consistent
@RichardColwell13 ай бұрын
Thanks for sharing this, I’m 32 and starting now
@whorhaydelfuego71903 ай бұрын
I didn't get started until I was 32 and started at 10% and moved up to 15% as I got raises. About 16 years from retirement now, and while it took a little while to get the snowball rolling retirement is looking like it'll be very comfortable. My account balances are ahead of the recommended values and just gotta keep on course. With an 18% savings rate you should be in excellent shape if you can keep it up.
@Krazybonejabs3 ай бұрын
I started at 35. Keep at it!
@RichardColwell13 ай бұрын
@@whorhaydelfuego7190 thank you for sharing!
@dwalker51753 ай бұрын
Age 75. Retired at age 65. Compulsive saver and not an idiot investor over a 40 year career. 401 k after 10 years of retirement and taking required minimum distributions starting at age 71 is over $8,000,000 today. Didn’t skimp on lifestyle during working years. Saved at a pace of about 8% of income during my working years. No magical investment style, just simple broad based mutual funds and now ETF’s. I did, however had earnings in the higher range.
@humphrey3 ай бұрын
Congratulations, well done!
@JC-kp1hr3 ай бұрын
Where did your day to day living income pull from between years 65-71?
@ChristiantrospectiveGamer3 ай бұрын
That's awesome!. Just think, the DJIA when you were 20 was only $875. Now it's at $39308. Talk about growth!
@dwalker51753 ай бұрын
@@JC-kp1hr 65 - 71 funded by non retirement assets in marketable securities and rental real estate. I bought residential real estate as individual properties over a 25 year period. Started with low income housing. Was fortunate to enjoy price appreciation. Sold the low income properties and 131 exchanged in to 4 houses that I paid cash for and rent with the assistance of a property management company. Didn’t take social security until I turned 70.
@Churchillhump22682 ай бұрын
Vanguard VTI. You can count on a net 9% with a reasonable standard deviation of 15 to 17%. Start early, be consistent and the miracle of compound growth will take over. Use time as the real basis of growth...it takes about 5 years.
@camela8445Mar2 ай бұрын
It's essential to conduct thorough research, consider the long-term outlook of the companies, and diversify your investments to manage risk effectively.
@camela8445Mar2 ай бұрын
My 401k is at a steady rise, Which is perfect for me, the problem is that most don't have the knowledge needed to succeed in a challenging economy. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn and save high in these challenging conditions.
@Deitricklaverne2 ай бұрын
Every week I buy more of whatever is the lowest percentage of my portfolio and try to keep everything around 10%, but what could be my safest buys with $400k to outperform the market in 2024?
@Deitricklaverne2 ай бұрын
I know It's essential to conduct thorough research, consider the long-term outlook of the companies, and diversify your investments to manage risk effectively, but I need advice
@soothingrelaxationandmedit682 ай бұрын
Consider diversifying your portfolio with a mix of stocks and stable assets. Seeking professional advice now could provide valuable insights and strategies to navigate market uncertainties and protect your investments.
@youngjesus59923 ай бұрын
22 with 35k in retirement. 33k and change in 401k and 1.3k is in my Roth IRA since I just decided to start maxing it out. So 291.67/paycheck to hit 7k/year. All that is from my 2yrs at my company as a welder. I barely decided to start building an emergency fund as well so I got $600 in my 4.60% APY SoFi savings. $600/paycheck so in 8 months I’ll have 9k contributed and more from compound interest. 8 months cuz that’s when I’ll feel comfortable trying to switch careers, after having an emergency fund. Then I got 2.2k in savings and 1.3k in checkings. Caleb Hammer really b hammering these goals into my mind 😂
@xungngo3 ай бұрын
Do not despair young fella! Use an online investment calculator to prove what I am saying. $35K at 13% (QQQ a Nasdaq mutual fund) with monthly contribution of $100 and compounded daily for 40yrs(retirement age 62) will get you $8mil. Don't fool around with individual stocks they will break you.
@raymonddunkerley30322 ай бұрын
Currently 50 years old and wife is 48. Our house is paid off and we have no debt. I currently put 22% into my 401K and my wife puts 50%. My current balance is 710,000 and my wife's is 165,000. We plan on retiring in 11.5 years from now.
@elprofeta1103 ай бұрын
I really work so hard to engage myself in someway of earning more income. My family are happy once again and can now afford anything for my family even with my Retirement.$47k weekly returns has been life changing, after so much struggles.
@KuramaUchiha-id1ow3 ай бұрын
wow this awesome 👏 I'm 37 and have been looking for ways to be successful, please how do I make such weekly??
@elprofeta1103 ай бұрын
Maria Angelina Alexander I really appreciate her efforts and transparency.
@elprofeta1103 ай бұрын
I remember giving her my first savings $20000 and she opened a brokerage account for me it turned out to be the best thing that ever happened to me.
@elprofeta1103 ай бұрын
My outlook on money changed when I realized someone making $200K can retire broke & someone making $80K can retire a millionaire. With the current market movement.
@babytruca023 ай бұрын
You're correct!! I make a lot of money without relying on the government. Investing in stocks and digital currencies is beneficial at this moment.
@lamieannacosta77463 ай бұрын
I am very fortunate and feel very encouraged by your videos. Our best advice we got out of school were two things: Don’t pretend to know things; be humble and ask for help AND start contributing to your 401k at the max; diversify. Now as middle agers, my husband and I are enjoying our careers, raising young adults 😅 (plus one corgi puppy) focusing on our health and relationships. We can’t feel more grown up than this!😂
@goJesusandStarcraft3 ай бұрын
Congrats!
@Richmind-ir5zi2 ай бұрын
I just turned 41 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 65 atleast, so how best do I maximize my savings of over $500k
@Marianela-r3v2 ай бұрын
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
@Doracox222 ай бұрын
Generally speaking, a good number of people discredit the effectiveness of financial advisor in planning for retirement, For over the past 10years, I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3m in gains… might not be a lot but retirement doesn’t seem so farfetched anymore.
@greekmom2 ай бұрын
Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
@Doracox222 ай бұрын
Kristin Amber Landis"" 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.
@greekmom2 ай бұрын
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her.
@bclayton4303 ай бұрын
I’m 29 with $130K in my 401K which is self-directed since I’m self-employed so I can max it out twice a year which is a big perk. Started contributing at 25 - these stats are encouraging!
@mikenonameneeded34853 ай бұрын
I’m 53 and I contribute 29% of my income to my 401k. I have $80k in my pension and $501k in my 401k. I owe $90k on a $300k home. No car notes or credit cards. No loans other than a house note. I plan to retire at 60.
@jnewby743 ай бұрын
One thing to consider is looking at retirement savings/investing as a whole. I’m 50 with a $1.5M 401k, but I don’t have any other investments. I’m looking into Roth IRA’s now and will probably do some Roth conversions. But looking at all investments instead of just one type is definitely important.
@rodrigok12203 ай бұрын
My wife and I are at close to a million and we are early 50’s. Most in traditional, maybe 5 percent in Roth. I’ve changed all contributions to Roth. I contribute 18 percent and my employer contributes 10 percent, so 28 percent total of my income. My wife doesn’t contribute anymore, but has a pension when she retires that’ll pay roughly 45 percent of her pay. Trying to retire at 61 if possible.
@shenkuulover2 ай бұрын
I started around 3 years ago and have made 16k in total towards my ROTH 401k. Now 28 and starting a Full Time Job and looking to give more towards it. Thanks for the info Humphrey!
@LeviRobinson2703 ай бұрын
Prosperity doesn't come out that way overnight. What Most people see at a glance-wealth, a perfect career, purpose-is the results of hard labour and hustle over time. I pray anyone who reads this will be successful in life...
@MrsWhite3903 ай бұрын
Assets that can make one successful in life
@MrsWhite3903 ай бұрын
I. Forex 2.Stocks 3.Shares
@Rose_j1013 ай бұрын
You are right.
@Rose_j1013 ай бұрын
But I don't know why people remain poor due to ignorance
@Olivia4193 ай бұрын
It's not ignorance but unprofessional broker in the market
@Morphzz3 ай бұрын
Dude these videos make my insomnia and consistent dread of "oh I'm behind" go away for a couple of weeks; realizing I am not doing too awful. The anxiety will come back to kick my ass in a week tho.
@User12345fan3 ай бұрын
Some level of anxiety is good, it will help you, but not too much.
@leonardomarques33783 ай бұрын
Im turning 30 in a couple of weeks and im sitting at $67,300 between my Fidelity ROTH & 401K accounts. I bought a duplex in 2020 for 316k and it’s worth about 550k. I owe 245k on it so I have just around 300k equity.
@lamieannacosta77463 ай бұрын
I am very fortunate and feel very encouraged by your videos. Our best advice we got out of school were two things: Don’t pretend to know things; be humble and ask for help AND start contributing to your 401k at the max; diversify. Now as middle agers, my husband and I are enjoying our careers, raising young adults 😅 (plus one corgi puppy) focusing on our health and relationships. We can’t feel more grown up than this!😂 Keep on Humphrey ❤
@JuanCollao-qs6vl3 ай бұрын
Wow. I am blown away by this presentation. I was an insecure 49 year old on SS in January 2018 when I started buying Bitcoin/crypto. Everyone though I was irrational. Most still do. I put my income in every month and watched the value drop each month but for some reason really believed in Bitcoin and alt coins/blockchain even though I don't totally understand. Finally, the crypto market started turning around and I am astonished at the value of my crypto currency portfolio today. I engaged in active trading and managed to grow a nest egg of around 2.3B'tc to a decent 27B'tc....At the heart of this evolution is Kerrie Farrell, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. Her holistic approach to investment and commitment to staying abreast of market trends make her an invaluable ally in navigating this new era in cryptocurrency investment....
@calissou3 ай бұрын
I appreciate the professionalism and dedication of the team behind Kerrie’s trade signal service....
@BanwarilalKumawat-ij6tp3 ай бұрын
As a beginner, it's essential for you to have a mentor to keep you accountable..
@duongtuan-od7kx3 ай бұрын
Kerrie Farrell program is widely available online..
@KellarHalen3 ай бұрын
The fact that i got to learn and earn from her program is everything to me think about it, it's a win win for both ways...
@Jovenoli3 ай бұрын
On the grand scheme of things, once you understand the potential of trad!ng, you can bet on it but I think people need the education to fully understand....
@sgoldie3 ай бұрын
Hi Humphrey! I think it would be helpful when you list invested totals when someone retires to also list the estimated purchasing power. $1.3 Million in 2023 will be a lot different than $1.3 Million in 2065
@TheAlaskaAdam3 ай бұрын
42 yo- 450k in 401k and contributing ~25k a year through 12% employer salary match(yes 12% of my salary is employer contributed) and 8% employee contribution at an 80k salary and another 4k/yr employer contributed pension. Maxing Roth DCA at 258 every 2 weeks but just started this year. 75% in SP500. 25% in Blue chips.
@humphrey3 ай бұрын
Wow, amazing contribution rates.
@ThomasShelby-xz2fk2 ай бұрын
25 years old. 10k in 401k. 20k in Roth IRA. 110k in an investment account. 140k all in. Plan to keep buying dips in big tech and semiconductor stocks.
@zmeerkat91873 ай бұрын
Gotta love consumerism....no one has sh*t saved by the time they want to retire
@isaacchapman76283 ай бұрын
Can I interest you in a brand new Charger at 50% APR, good sir? It'll only be a $1600 per month payment! A real bargain!
@laundrygoddess43 ай бұрын
I do 🤣
@arh12343 ай бұрын
Lots of people save for retirement. Not the majority (yet) but plenty. Look into Ramsey Solutions or the FIRE community.
@andrewdc13 ай бұрын
Im at the start of my journey. 28 years old. Been on my own since 18 and struggled to get out of poverty for many years but I'm finally ready to kick off this savings journey. Right now I have 6k in a 401k, $500 in various stocks, and own a townhome. This was a great video to see what I should aim for.
@gregvanommeren56603 ай бұрын
28 years old. Been working for 6 years out of college, with an average salary of $98k across those 6 years (started out at $72k and now at $127k). Just hit a net worth of $400k ($300k in retirement, $100k liquid). Majority (> 90%) of retirement savings are in Roth. I've been maxing my Roth IRA since my first year of working, have maxed my Roth 401k since my second year of working, and have maxed my HSA the last 3 years. Total retirement savings rate of 30-40% (including employer match), liquid savings rate of 5-10%. Have lived in a moderate cost of living area (Philadelphia). The biggest things for me to achieve this have been living frugally (no debt), avoiding lifestyle inflation, increasing my salary (through negotiation and a strategic company change), and saving aggressively. Nothing magic here, just intense saving and investing in low cost S&P500 index funds. You can do it too!
@funguy10863 ай бұрын
Damn dude thats awesome. Most of my 401k is traditional because i only recently started contributing to roth. Im in a target date fund, and i feel like i should have just done s&p, but im scared to reallocate it at this point. Separately, i buy a share of VOO in a brokerage account every payday.
@arh12343 ай бұрын
Well done🎉🎉
@BradApking14 күн бұрын
Always been a saver and have been quite fortunate with my benefit options. 43 with ~1.1M bw 401k and IRAs
@Grace-du3gy3 ай бұрын
I'm favoured, $27K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America.
@AnitKumar-dd9ns3 ай бұрын
Really 😮how?
@Grace-du3gy3 ай бұрын
It's Mrs Sonia Duke of course
@SamGo-pf7vx3 ай бұрын
I have heard a lot of wonderful things about Sonia Duke on the news but didn't believe it until now. I'm definitely trying her out
@mdshaibaz-fo9yp3 ай бұрын
Started with 5,000$ and Withdrew profits 89,000$
@GurusharanDas3 ай бұрын
I'm glad to write her tay I do hope she will help handle my paycheck properly☺️☺️☺️
@jspuhler662 ай бұрын
I'm 57 and have a about 640K in the 401k, 80-90K is cash and my house will be paid off by the end of the year. At that time, I plan to raise my contribution from combined 18% to either 25 or 30%. My goal is to have 1.5 million in my retirement accounts when I finally decide to start my permanent vacation!
@MrJohn-zb2bi3 ай бұрын
To be a successful business owner and investor, you have to be emotionally neutral to winning and losing. Winning and losing are just part of the game. Risk comes from not knowing what you are doing.
@korkyket3 ай бұрын
Successful investment starts with clear goals and risk assessment, often best done with a financial advisor's help
@RobsonSilva-cs2he3 ай бұрын
James Clark's market insights have consistently led to profitable decisions.
@cr8zymichael3 ай бұрын
Celebrating a $30k stock portfolio today from a $6k start. Investing wisely has given me time for family and future plans.
@resterAnonyme3 ай бұрын
What I don’t like about these studies is it doesn’t take into account what’s been rolled over to an IRA and what’s been saved in the IRA. I rolled over a 6-figure 401K when I left my last job and now my 401K is not as high.
@salinagauntlett2 ай бұрын
You work for a 40yrs to have $1m in your retirement, meanwhile some people are putting just $10k in a bitcion coin for just fe months and now they are multimillionaires thanks to Charlotte Grace Miller
@Piligarcia-zs7bo2 ай бұрын
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
@jadewashington72 ай бұрын
The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.
@mikesnoek2 ай бұрын
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.
@GertonTootle2 ай бұрын
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
@salinagauntlett2 ай бұрын
she's mostly on Instagrams, using the user name
@TripSoul102 ай бұрын
In my age range at the middle of the range I am at, I have about 1.9X more than median and about 70% of the average number. Regarding my other retirement accounts, I have almost $100K in Roth IRA, stocks, & pension balance at my job. In the past two years, my retirement total invested has nearly doubled thanks to maxing ira amounts and putting in at least $1000/month into 401Ks.
@CrazyMedic2203 ай бұрын
Based on the figures for ages 25-34 I’m double! Well that’s feels reassuring.
@humphrey3 ай бұрын
lets go!
@TheFirstRealChewy3 ай бұрын
Are your expenses also double?😮
@GaryCohen-y8e22 күн бұрын
I’m 56 with a 403b balance of $ 1.23million. Put away a 30k per year in 403b plus 8k in Roth . Also brokerage investment of 279k plus 125k in cash. All the same as the spouse. No debt whatsoever. Plan to retire in 3-4 years
@KenistonKist3 ай бұрын
You work for a 40yrs to have $1m in your retirement, meanwhile some people are putting just $10k in a bitcion coin for just fe months and now they are multimillionaires thanks to Charlotte Grace Miller
@mirchimome3 ай бұрын
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
@jadewashington73 ай бұрын
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.
@mikesnoek3 ай бұрын
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
@UsamaG-mq1jy3 ай бұрын
I'm new at this, please how can I reach her?
@BernardinoJavier-f3s3 ай бұрын
Really you people know her? I was even thinking that I'm the only one she has helped walk through the fears and falls of trading
@calebhodges90283 ай бұрын
Lot of comments from people with a lot of money. Just let yall know I started last August at age 24 after living paycheck to paycheck my whole life. I just hit 10k savings and no debt. Keep in mind I live in a camper so no house yet but I still feel like I’m doing pretty well. Keep y’all’s heads up, I’m starting to learn it is a slow process and there isn’t a whole lot you can do to speed it up except increase income or decrease expenses
@peaceanle3 ай бұрын
Turning 31 this month and I moved back in with my parents 3 years ago. $117k in 401k with 6% employer match and maxing out both 401k and Roth
@jgon3213 ай бұрын
👌🏼👌🏼
@trell2garland7503 ай бұрын
Currently 24 with $5,200 in my balance. Will be around $7,300 after my loan is repaid
@humphrey3 ай бұрын
Great!
@Bc_im_funny3 ай бұрын
41 years old - 165k in 401k, 42k Roth IRA, two rental homes / one paid off. I try to max both my 401k and Roth each year. Love your videos!
@Bobventk3 ай бұрын
Stop using 8% for expected return. Inflation adjusted assumptions for all equity portfolios should be 6 MAX but more likely 4/5
@JC-kp1hr3 ай бұрын
A lot of the time these online calculators are auto-adjusted for inflation, not sure about this one he used but using those calculators at a 7-8% return is the most accurate imo
@Bobventk3 ай бұрын
@@JC-kp1hr it’s clearly not. He’s simulating an 8% return, which is a sensible nominal assumption but a very optimistic real assumption
@LifeLessonsHQ243 ай бұрын
I only contribute 9% (with a 7% match) because I would rather max the HSA and Roth IRAs first after the match. That's probably skewing the rate to be lower than actual retirement savings rates are Stats: 26 yo. 33k in 401k. 23k in Roth IRA, 12k in HSA.
@EstherRoss-gm8qv3 ай бұрын
Generally, aiming for 10-15% of your income is a good starting point. By retirement, you should have about 8-10 times your annual salary saved.
@JasonAmir-qo4uo3 ай бұрын
That sounds like a lot. Is it really necessary?
@MichealMadu-vp7ll3 ай бұрын
Yes, it's crucial for maintaining your lifestyle in retirement.
@JasonAmir-qo4uo3 ай бұрын
What if I start saving late?
@EstherRoss-gm8qv3 ай бұрын
Increase your contributions and consider consulting a financial expert like Nelson Maynard Fisher.
@MichealMadu-vp7ll3 ай бұрын
Who is that?
@pc246812 ай бұрын
Wow! I am 53 years old and I have 360,000 in my 401k but I am saving 45 percent of my income! Looks like most Americans aren’t saving enough for retirement unfortunately! I am above average for my age range 😊
@JH-ot5mn3 ай бұрын
48 - 505k in 401k, 100k in Roth IRA, 50k in brokerage acct, 50k in HYSA. Damn it feels good to be a gangster.
@christinap72873 ай бұрын
Do you live in California?
@rh888413 ай бұрын
Mine just activated last week! $160/mo will be going in, plus employer match of $120
@nortonantho3 ай бұрын
My employer matches half of my 401k contributions, but there is no cap other than the 23k limit set by the government.
@FSD-yi1vz2 ай бұрын
21 just got out of the military 3 months ago and have 140k with 52k in my 401k (TSP). Trying to hit 2MM before 30, just landed a killer job and will be making 135k a year only working 3 days and 4 days a week rotating.
@ThatGuyUkindaNo1001013 ай бұрын
Im 22, i have about 3k in a roth 401k. I have it set to 80% S&P500 20% bonds. I contribute 6% of my salary with no match. I also get a pension that puts in $13 for every hour i work until retirement. I also DCA into a brokerage account weekly. $20 into Voo, $10 into schd, and $10 into schg. I also DCA a dollar a day into BTC and ETH. I dont allow crypto to go over 10% of my portfolio. When it does i sell some and buy into VOO. I also save $50 weekly in a HYSA, with about 3 months of expenses saved. 0 debt besides a car at a 3.45% interest rate.
@bvoyelr3 ай бұрын
At your age, why don't you go full send into the S&P 500? You only want bonds to hedge against temporary downturns, but since you won't even draw from these accounts for nearly 40 years, you don't give a hoot about downturns. The market will even out over the long haul. All you're doing at this point is ensuring 20% of your holdings don't do as well as the rest. PS: Schwab does have options for investing in the S&P 500, but it's a mutual fund. Same expense ratio as their commission free ETFs, though, so if you were just using SCHD and SCHG because they're reasonably well performing commission free ETFs, then SWPPX is the name of their mutual fund that tracks to the S&P 500.
@timtorkelson72013 ай бұрын
@@bvoyelr100% correct! When young,it’s rock roll time!
@paulroyle-grimes827915 күн бұрын
as a teacher - hitting the stride in my carreer meant earning less than when i started. after 30 years making the same as when i started adjusted for inflation
@RobertAnthony___zz3 ай бұрын
Hallelujah!!! I’m blessed and favored with $60,000 every week! Now I can afford anything and support the work of God and the church. For Your glory, LORD! HALLELUJAH!
@StevenPaul_NYC3 ай бұрын
That’s fascinating! I’m always keen to learn about people’s successes. I’d love to hear more about your achievements.
@RobertAnthony___zz3 ай бұрын
This is what Ana Graciela Blackwelder does, she has changed my life.
@RobertAnthony___zz3 ай бұрын
After raising up to 60k trading with her, I bought a new house and car here in the US and also paid for my son’s (Oscar) surgery. Glory to God.shalom.
@BrianEdwardandDog3 ай бұрын
I know Ana Graciela Blackwelder, and I have also had success...
@BrianEdwardandDog3 ай бұрын
Absolutely! I have heard stories of people who started with little or no knowledge but managed to emerge victorious thanks to Ana Graciela Blackwelder.
@texasbuzzard4970Күн бұрын
35 years old. at 33 I was making about 70k per year contributing 12%, now I'm making 300k and contributing 25%. 401k went from 21k in 2022 to 120k now.
@sw33tm33 ай бұрын
How about people who went for further education and didn’t start working until 30s? Is there a timeline for this group of people?
@humphrey3 ай бұрын
Ideally if you had further education till your 30s, you are earning more than the average person and should be able to catch up no problem. This study encapsulated millions of accounts so im sure there were some people in there in your boat.
@apoc50003 ай бұрын
Hopefully you're earning about 150k out the gate
@sw33tm33 ай бұрын
@@humphrey I’m just trying to figure out because I haven’t found many resources providing guidance for people who started working late 😞
@rebeltheharem70283 ай бұрын
@@sw33tm3 I hope you have a high enough salary, to catch up in your 401K savings. If you max it out at 30K (23 from 401, 7 from Roth IRA) every year from hence forth, I think you should be perfectly in line with what is expected in your 40's. To have 4x your salary by the time you are 44 (which I would assume is around 10 years), you would need to put in 32% of your salary into your investment account (I assumed a conservative 5% return rate, because for catch up, you should always use a conservative estimate). Since you are a late starter, instead of using a percentage of salary, I would say a flat amount every year is better. And once you caught up, switch to a % of salary. The contribution cap each year of 30K might be a big ask for most people early in their career.
@Andyt113 ай бұрын
Im definitely behind because I was freelancing for 10 years and didn’t know about IRAs. Now I have a real job with a 401k!
@richardhudson12438 күн бұрын
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
@saraFinn-u6g8 күн бұрын
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.
@maiadazz8 күн бұрын
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000
@avamadison-r9p8 күн бұрын
Mind if I ask you to recommend this particular coach you using their service?
@maiadazz8 күн бұрын
Finding financial advisors like Sophia Maurine Lanting who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
@michaelstrawberry8 күн бұрын
Just ran an online search on her name and came across her website; pretty well educated. thank you for sharing.
@jg94333 ай бұрын
At 35 (in 2020), was still in a lot of student debt, took a risk and borrowed from my 401k with the cares act benefits during the pandemic to pay off the ones who’s interest didn’t freeze. That brought my 401k balance down to 5k; 39 now, i paid myself back what i borrowed from my 401k and have been maxing out my 401k; also opened a roth and have been maxing that out as well. Current balance is 180k in 401k and 16k in a roth. Hoping to get close to the target salary multiplier balances noted in the video within the next 5 years… although that might require even more savings maybe in a brokerage if i can pull it off
@arh12343 ай бұрын
Scary tactic - glad it worked out for you!
@jg94333 ай бұрын
@@arh1234 thx! yes very risky 😅 but 1000% best decision I could have made. I’ll note that it also relied heavily on me continuing to work for a ny city company while moving to a much lower cost of living city in the midwest (closer to family).
@googingus3 ай бұрын
love this guy ❤
@humphrey3 ай бұрын
ty
@jonnyskybrockett88442 ай бұрын
I’m still pretty shocked my employer offers a 50% 401k match. I just started my 401k this year since I’m 22, and I should be maxing it out even though I’m only working for half the year which is great (love living with parents and saving on rent). Should have 34k in there without counting for gains end of 2024!
@ttinnovations33102 ай бұрын
This video is blaaa, if you follow this, at retirement, you will be NOT retired!!
@LearningFast2 күн бұрын
The theoretical amount you should have saved per age group sounds unreasonably high. I have seen examples of people that have hit the 401k yearly contribution max($23k/$30.5k) and they still are nowhere near 10x their salary in retirement savings. Those numbers just sound like unreasonable goals. The best savers I know can’t hit those numbers and yet they are going to retire quite comfortably.
@terellmao3 ай бұрын
Just turned 27 with 139k in my 401k. Employer contributions are VERY powerful, make sure to take full advantage of them! So far this year I've contributed around 10k, while my employer has contributed 15k (!!!). Taking full advantage of any company matches or additional contributions, or even negotiating additional retirement contributions as part of your compensation package in the interview process can rapidly accelerate your retirement/financial independence timetable.
@lianalonge19842 ай бұрын
The grocery store sushi had me cracking up because that is so me! Living life on the edge the last Friday of every month. 🛒🍱 🍣🤣
@johnson45232 ай бұрын
Currently 27 with ~60k in my 401k, been contributing company match of 6%, we also get an extra 3% from the company each year, which ramps up to 4.5% and then 6% extra based on age and service years. Just upped my contributions to 17% of my salary, and planning on ramping up to maxing it out (~22%) as finances allow. Already maxing out my Roth IRA
@oOBlahBlahOo123453 ай бұрын
Humphrey, can you do a video or a short on calculating employer match and why it’s best not to contribute too much too early in the year if your employer doesn’t offer a true up match?
@kelthekonqrr3 ай бұрын
I’m a 28yo immigrant that just came in about 1.5years ago, your videos have helped me find a footing and I definitely know I can catch up
@RavensTheNextDynasty2 ай бұрын
I’m 33 and watching this video makes me extremely happy with how I’m doing on my retirement. With social security going away for my generation, I’m extremely surprised people aren’t taking saving for retirement more seriously. They really trying to work until they drop dead, won’t be me!
@TDarvin3 ай бұрын
$156,000 in the 401K at age 37. Im above the average in my age group but still feel way behind. I slacked some in my 20s, not taking the full advantage of the match. Currently at a 20 percent savings rate now between me and my employer.
@m.g.10892 ай бұрын
31yo, 34k in my 401k, 15k in HYSA, wife has 12k in an IRA. Pandemic really hit us hard and basically had to restart our careers in 2023. We were almost penniless. Saved up for a house and hoping that really helps us over time. We are in a relatively LCOL area. We should be paying off student loans in the next couple of years, and youngest will be out of daycare in a couple. We're just scrapping for anything we can get our hands on right now. I'd be happy to even have a chance to retire by the time I'm 80 at this point. We lost at least 4 years of solid investing due to the state economy we left in 2023/24. We were on track to have over 100k in saving by the time we were 28. Had to make a lot of sacrifices to make ends meet.
@CapableFox642 ай бұрын
Will be at 45k at 29 in 401k and a bit over 60k aggregated across tax advantaged accounts. Finished education and got my first white collar job recently. Now sustainably maxing 401k with goal of being 3x income by 40 and retiring by 55.
@ruckahh52803 ай бұрын
After almost 5 years in the military im approaching 6 figures invested across TSP and Roth IRA, 28 years old. Come to this channel every now and then for info, appreciate you
@humphrey3 ай бұрын
appreciate you watching sir
@quanchu29843 ай бұрын
I'm 34 this year. For a long time, I always put on average 15-16% towards 401K - I didn't even need to cut out any of my treats either, I just reduce the frequency of it. I still eat out and enjoy a nice cup of coffee outside, but significantly less than when I was in my 20s. And if your company offers bonuses, I highly recommend putting 50% of those bonuses to retirement, you get taxed a lot less.
@sofjanmustopoh72323 ай бұрын
I drop out of university for 10 years and totally enjoying my youth years. Started back at school at 30 years old . Bought a house at 33 . And finally got my pharmacy degree at 40 years old and save earnestly . Luckily. I made several great real estate purchases for rental properties in the post 2010 crash. Now I’m 54 and looking forward to retire at 62.5 . 860k in 401k now plus rental properties. It was a hard core saving and investing. All in SP500
@rambleonfinance3 ай бұрын
These numbers are all fine and dandy but nobody is talking about the negative return years. These returns lately have been astronomical and you always see a bunch of happy investors in bull markets. Everyone always mentions an average return from index funds and blah blah, but most investors do not have the stomach to endure through 3 or 4 bad years which 100 percent are coming, and they will sell and never return again.
@Flynnskis8 күн бұрын
I think you are missing a big aspect of why that 10% number hovers at that range for so long. As people enter their mid 30s to mid 40s other major expenses become a reality. Specifically, the purchase of a home, college and weddings. All of which require massive amounts of liquid cash. I am of the opinion that in the US, if you live in a modest suburb, drive modest cars and live in a standard 4 bedroom suburban home with 2 kids, if your gross household income is 150k, there just isn't enough left over after mortgage, cars, kids, groceries, college and weddings to be contributing the max....at least not until you get a solid base in those accounts to feel more comfortable that you are going to hit your mark 15-20 years down the road.