I'm 48 and Have No Retirement, What Should I Do?

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[@Theresaa12]

I've kept most of my savings in cash for safety, but I'm unsure if that's right for retirement. Thinking about investing $400K in stocks, as I've heard investors can profit in tough times. Not sure about my next move.

[@EverlyndPerez]

it's wise to redistribute your capital to mitigate risks during market fluctuations. Consulting a financial advisor can help simplify this process.

[@benitabussell5053]

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.

[@judynewsom1902]

This caught my interest. I worry that I have a couple more months before retirement, and I want to switch to using a financial advisor, but I don’t really know how to find one.

[@benitabussell5053]

*Sharon Lynne Hart* is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@A_francis]

I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.

[@dianesullivan5338]

I get scared when I think about retirement. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.

[@beafoster747]

True, It has never been tougher to understand how to build your money after retirement than it is right now with the inflation. You can experience a completely varietied market passively by employing a successful portfolio-advisor.

[@PotBellyPete69]

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

[@AddilynTuffin]

It may be a good idea to speak with a financial advisor who can help you develop a portfolio based on your individual goals and risk tolerance.

[@judynewsom1902]

Partnering with a financial advisor has transformed my approach to investing. Their expertise and personalized guidance have not only helped me navigate complex financial markets but also optimized my portfolio to achieve my long-term goals efficiently.

[@Redwood4040]

Your advisor seems competent. Could you share how I can reach out to them? I've recently sold some property and am interested in investing in stocks, and I'm seeking guidance.

[@judynewsom1902]

Jennifer Leigh Hickman is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@gregorywhem]

Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info

[@Blitcliffe]

The idea of investing a substantial sum of money may be both thrilling and intimidating. There is potential for considerable wealth increase with the correct strategy. I want to know; How can one take advantage of compound interest and potentially grow your retirement savings/net-worth to about $1M over time?

[@corrySledd]

A solid strategy can be a key component of an investor’s portfolio. Well, the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.

[@EdwinBoettcher]

Yes true, I learnt that in 2020, when I lost almost everything. But I switched to using a financial advisor and I've been returning at least $38k every month so I’ve been sticking to investing via an Advisor.

[@Blitcliffe]

That’s impressive, have you always had a financial advisor?

[@EdwinBoettcher]

Not exactly, I started out with a financial advisor called " Becky Lou Gordon ". Her honest approach gives me complete ownership and control of my positions, and her rates are incredibly affordable given my ROI. However, do your due diligence before contacting a financial advisor.

[@jimmyware511]

Open a Roth IRA and invest $6,500 each year. There are no taxes on those investments. I would recommend S&P 500 (VOO). Do this for 30 years and you will get 1.2 million dollars return with an annual interest of 10%. retire at age 50.

[@Mitzi73]

Go hard for the next 20 years. He can do it.

[@MichaelJones-rn2pq]

Yes. He has time to save up for a comfortable retirement.

[@clarifyingquestions]

Yup - working till 70 with fingers crossed that he is health and hearty and dodges cancer.

[@NiceOCGuy1981]

@@clarifyingquestions yup

[@jml9550]

20 years? I would get this done in 7.5 years making $80K, single and no other debts.

[@kbanghart]

@@jml9550 that's great but you're not him

[@Josh_Morales]

"He who understands compound interest earns it. He who doesn't, pays it" - Albert Einstein

[@alinatamashevich3354]

The wealthy earn it, the poor pay it.

[@blairkinsman3477]

@@alinatamashevich3354 I’m not sure how to read ur reply .. I would say it’s choice .. if I choose not to pay compound interest I get myself ahead (no debt) .. if I choose to earn compound interest (savings) I get myself further ahead .. we don’t live in a society where I have to stay at what I was born into my entire life .. I have choice which makes all the difference

[@alinatamashevich3354]

@@blairkinsman3477 The wealthy earn/collect interest. The poor always pay it. Pretty simple.

[@blairkinsman3477]

@@alinatamashevich3354 do they pay it bcz they are poor or are they poor bcz they pay it?

[@alinatamashevich3354]

@@blairkinsman3477 Chicken/egg

[@ThePatriots010304]

He’s gonna be working into his 70’s. So many people are like this guy.

[@IrishKyokushin]

Unfortunately the pandemic lockdowns and now cost of living crisis will put many people in this position. Even here in Ireland people making €70K a year are living paycheck to paycheck.

[@tortoisehead30]

If he hits it very hard, he can still retire by 70

[@gregorypeterson9]

Why into his 70's ? Do you think the social security he paid into is going away?

[@claudiasmith039]

But at least he will have a plan. Just imagine if he started at 70. Very scary.

[@Dabearscubsfan]

Just buy assets that can increase in value over time he’s not that bad off

[@catlady2795]

He's not doing too bad. He's just a little late starting a retirement account, some of these other callers sound like their in worse positions.

[@davidsensing2664]

Caller says he is engaged, I hope his future spouse is on a similar plan. MONEY is such a large part of our lives and vital that spouses are on the same page. A friend was in a gun store in Franklin TN and Dave walked in. My friend was checking out and yelled to Dave, "I promise this is a debit card." He said Dave just started laughing.

[@rnt45t1]

best financial advice would be to drop the engagement and stay single.

[@macneoh7418]

In ten years he will be calling back saying he just got divorced and his ex wife is taking half of everything.

[@riverdaletales8457]

I would not marry her. He’s 48, chances are this could possibly be his 2nd marriage at least . He not made for marriage

[@rainacherienne1010]

I don’t think age is the problem. The problem is that people who never were savers or had common sense to accumulate wealth are not going to magically change when they’re 50. It’s a mindset.

[@411sponge72]

100%

[@Justmyopinion81]

This guy isn't in a horrible situation. He owns a home, so has some equity. He has a solid income and has been paying into social security. He needs to change his spending and learn about investing. There's hope for this guy.

[@donaldlyons17]

He is almost 50!!! The situation he has might not be that great......

[@vladamirkb1]

i'm going to live in a van down by the river.

[@robertatkins272]

Sounds peaceful!

[@charityclark7910]

😄

[@mattdg1981]

Did that as a young man for a few weeks in the mountains. Good times.

[@valaquenta220]

48 is still young enough to get a proper retirement in his 70's if he works hard, so it's doable. We tend to live in our 90's these days if we don't do stupid things with our health. He needs to save as much money as he can for the next 25 years, retire, and he should be alright.

[@ZoeiiZiZZles]

I am a nurse I wish I could take you to where I work so you can see the reality of your late 60s 70s 80s and 90s you might not want to live till 70 live while you can we all die

[@valaquenta220]

@@ZoeiiZiZZles Most people in my family who are in their early seventies are in very good health, so I'm probably biased. I know life is not so good for a lot of people.

[@davidguarin358]

@@ZoeiiZiZZlesmy mom is 85 She still looking great 👍 and good health/ her aunt die last year at 104 years old / she was healthy for 100 years - got sick last 4

[@dashcamvideos6742]

He can catch up. Focus is the keyword!

[@floydestelle6242]

Did this on my own, didn't hear about Dave until last couple of years. Been retired for 5 years, zero debit, house paid 270, 1 million IRA, paid off 2022 Rav4 Hybrid, 25k bank

[@pe8841]

How’s retirement going

[@LxTxSURGE]

can you give me more info o your process? thanks

[@jabow1878]

Just buckle down and move forward. We saved half our income starting at 50. We are fine at 60+

[@annjean8709]

👏🏾👏🏾👏🏾

[@libertysprings2244]

Well the first thing I would've asked is if the woman he's dating has any debt and if so, how much. If he gets married that will become his debt too

[@hvaball150]

figuratively. but legally no. not unless his name is on the debt.

[@mathisnotforthefaintofheart]

If he gets married, that would be the dumbest thing to do...

[@chuckgoodman3828]

@@hvaball150 Legally, absolutely yes!

[@hvaball150]

@@chuckgoodman3828 legally, absolutely no.

[@chuckgoodman3828]

@@hvaball150 Wrong again! Try telling that to the judge in your divorce hearing!

[@daveblackman816]

Rice and beans

[@Nolaman70]

Beans and rice

[@Whoiskevinjones]

Dave missed the big questions... What debt does his fiancée have? How much does she expect to pay for the wedding? Does she have children?

[@jamesseurat8679]

You should start your own talk show. Show Dave how it's done.

[@gregorypeterson9]

He will be calling back with a list of new concerns shortly...lol 😟

[@mathisnotforthefaintofheart]

@@jamesseurat8679 While standing and commenting from the sidelines is always easy (I am with you on that one) I do think those questions are valid. I mean, it's a marriage for god's sake.

[@dougb8207]

Yes! Does she have medical issues? Does his spouse work? Lots of big questions. Flashing red light, to me.

[@dansdrumchannel9239]

He could possibly live on 40k and save 40k a year. If this caller plays it right he could hang it up by 60! Hopefully his spouse to be is not a big spender😞

[@reese85]

What’s up with y’all and taxes? His take home for the year is not 80k!

[@dansdrumchannel9239]

@@reese85 maybe y'all have heard of taxed deffered retirement plans 🤔

[@bennyl7224]

@@dansdrumchannel9239 $80k a year income is pre tax or after tax? Then tax deferred investing has a maximum per year doesn’t it? In Australia, tax rate on $80k is 32.5%. Closest thing we have to tax deferred is called super. It has a 15% tax rate on contributions and if withdrawn after 67, it’s tax free. Max you can invest with that 15% rate is $27.5k per year

[@Jim_Curtis]

He said he's engaged, so he should get a prenup if he's going to get married. Otherwise, a gray divorce in his 50s/60s will kill him financially.

[@rosamoreno4794]

What they don’t tell you about Smart Vestor is that 10 plus agents will call you for about 1-2 months multiple times a day 😳😑

[@NaimaNaima0608]

Similar to Zillow if you’re looking for a house. Pathetic and predatory

[@JohnJohn-wr1jo]

Rosa, u didn't think that Dave solely does this to help people?

[@cooper1056]

What he also didn't tell you is that your money will not grow always as he states. I retired two years ago and found out I lost 100k the first year and lost another 100k the next year. So yeah 😔.

[@DanielHBuchmann]

@@cooper1056 Alot of it has to do with the timing of your retirement, right?

[@endofquoterepeattheline7516]

Did he say $850 monthly mortgage and he makes $40 per hour??..child please

[@sb2261]

That's panic mode for boomers

[@reese85]

That’s only 83k b4 taxes! That’s really not a lot of money! Depending on his other expenses

[@AimeePoppinBabies]

Maybe the interest rate could change that. 😶

[@PantyhoseExperience]

Lol . I only spend a few hundred dollars a month on myself aside from rent so … so if I had about 2,000 dollars going out each month including expenses which I do , then if I made this income I would have like over 4,000 dollars left each month to invest. So it’s definitely a overspending problem basically lol

[@reese85]

@@PantyhoseExperience it’s really not a overspending problem! Some of you guys in the comments, actually do live too modest! Not saying that’s a bad thing but ppl wanna enjoy some of their money cuz what’s the point of working?

[@Leftists_are_Losers]

He can adopt the same plan my wife and I have. Our plan is to “Work til we drop” You know, the blue collar way.

[@tr3slech3s]

👌 close to adopting this lifestyle

[@zombl337og]

even if i was rich, id still wanna work to have some self worth and pride

[@kbanghart]

@@zombl337og all depends on what makes you feel good. For me, I would love to do some missionary work or at least some work domestically helping people who have less.

[@gregorypeterson9]

@@zombl337og Me to, just not full-time or two jobs like I'm doing now.

[@KevinNordstrom]

I'm sitting on a substantial amount of retirement right now to where I'll never have to worry and pass my kids down an inheritance.. . And I will continue to work till my legs fall off because it's good for the mind and for relationships

[@j.m0ney133]

He is a natural saver so if he funnels his savings strategy to an IRA he should be ok

[@jimhandler1129]

If he was a natural saver he would have a lot more money saved being single & making $80K a year.

[@endofquoterepeattheline7516]

If you have a paid off house you have saved for retirement

[@KS-cl8br]

A personal residence is not a retirement plan. It doesn't make you money.

[@Hope-zt6ug]

Until a natural disaster destroys it....

[@tmilsted]

'you sound dumber than a rock' Yeah a paid off house is essential that doesn't generate an income however..

[@SpicyKimchi-]

Only if you can downsize to a much cheaper place and leverage that money

[@smart127]

@@SpicyKimchi- That will be an option for my wife and I.

[@abdulsijad2419]

im 101yrs old and have nothing saved for retirement...please help

[@tobydrury9122]

Yes, dont let the girl get too much limelight, nicely put back in her place in the end of conversation 😕 She is an absolute gem.

[@FrauIndian]

Try to get a state or federal job. They usually have better retirement matching and good benefits.

[@rainacherienne1010]

They require commuting, I have not heard of a gov job you could work from home 100%.

[@PSCA1988]

@@rainacherienne1010 I work for the State of California and I telework 100%. Great benefits, retirement pension, no weekends and lots of holidays. The State is trying to implement work from home as much as possible.

[@rainacherienne1010]

@@PSCA1988 Wow thanks for the info, I’ll start considering federal jobs. I always passed on them due to old school ways (like also dealing with papers vs digital files).

[@scottkovacs585]

Buy some I bonds to offset some of the inflation beating your cash is taking.

[@rogue8853]

People live a lot longer now. He can work til 70 and focus on his health and live til 80+. People shouldn’t dream of early retirement necessarily, almost all the people I know that retired hated it after 2 years and started working part time again

[@lartrak]

The thing you need to do is know what you're going to do after retirement and have it be something you actually want but don't have the time for now, and for most people that shouldn't be basically nothing but leisure. Doesn't need to be work, but something. I also think a lot of people would benefit from working part time for a bit instead of going straight into retirement, make it a ramp down rather than a hard cut off.

[@iwantcheesypuffs]

Emergency Fund in a HYSA is a good idea. Also, your Roth IRA contributions are liquid (no tax or penalty fees to withdraw). Not a great idea, but in dire emergency it's an option. Agree with other statements -- if he goes hard for the next 20, should be OK. Be sure to also get that 401k match!

[@Whoiskevinjones]

Does his fiancée want to live in his house or will she insist on a new, bigger house?

[@simoncao5924]

I am single at 29. Saved 200k and still fearful for my future:(. I still rent tho so no asset beside my 2018 camry

[@user-tj5he3uf2l]

your doing great

[@zekewatson6489]

Start saving. Next question.

[@mioangel1227]

Where to place the emergency fund? Thanks

[@dancechica]

A high yield savings account like SoFi

[@jenniferevans5973]

When he says Emergency Fund. Is he referring to a savinfs account or a seperate account dedicated to emergencies

[@meggrotte4760]

Like me.I spent the last twenty years paying off my student loans, and by the time i'm forty-eight, I'll have finally finished paying them off I had to move to another country because I couldn't keep up with it

[@1timothydillon]

Spending bleed would be the financial version of death by a thousand cuts.

[@greenlady43]

I’m 74 retired and we are in debt….paying it down is difficult but doable. We have no retirement funds

[@jimhandler1129]

So sorry to hear this. Please listen to Dave's baby steps and get out of debt. I know it's obvious but you really have to cut out any extra expenses and do everything you can to increase your income. I've been there. Good luck to you.

[@alisatjaden3906]

Me too. 72. Have to work til I drop.

[@maxshiraz3447]

SOunds like a Solo 401k might be a better option for this guy. Sounds like he's a sole proprietor so he can add much more than he can into an IRA

[@Ansmousoeesoj]

It’s not fair your kids if you don’t save for retirement

[@BUGZYFANG]

Seriously 850.00 a month mortgage payment this guy must waste his money on the dumbest things in the world if I had that kind of a payment I would have had that house paid off years ago

[@jasonjosephlee]

If you are younger, do yourself a favor and buy a few rentals to add value. Property should be cash flowing nicely by the time you need to retire.

[@VegasMilgauss]

Kristina “get a scholarship for retirement “

[@MrMistajone]

This caller needs to stop talking & listen. 48 and no retirement that is ridiculous.

[@alinatamashevich3354]

Living the American dream!

[@mocheen4837]

So many people are too busy living in the now. Both of my kids had trading accounts in high school. They both started working in high school and saved most of their income.

[@reese85]

@@mocheen4837 saving your income while being in hs, is easy! You have no real life bills yet

[@amycloninger3971]

I'm losing more than that in my Roth and 403b? I have lost $5000 in an IRA in year

[@rainacherienne1010]

Everyone has.

[@davidblaske6911]

I disagree. I don't think you factor for market corrections which happen all of the time.

[@jordandowland7256]

Dave couldn’t get to reading the baby steps verbatim fast enough before hitting the dump button on this guy.

[@mikekinsella2822]

I am 59 and on my way to homelessness. being broke sucks.

[@jimhandler1129]

Sorry to hear this. You can prevent this.

[@mikekinsella2822]

@@jimhandler1129 Nothing I can do Life has become to expensive. If you don't have the money for rent what can you do

[@alisatjaden3906]

@@mikekinsella2822 Check out Bob Wells Cheap RV Living You Tube series. Some great ideas! Best wishes!! ❤

[@jimhandler1129]

@@mikekinsella2822 There are options. I know people who have lived in their cars. Pleas don't give up hope. I personally have lived in an apartment with no heat & no lights, just to save money. Look for ways to increase your income & reduce your expenses . I have been there.

[@stacyg585]

I'm also 48. Own my home outright, no mortgage, and it's worth $700k now. I've been a stay at home mom for the past 5 years while my husband has worked as a freelancer in the tv industry. jobs have dried up for the last 6 month and his normal $120k income has shrunk down to about $70k. We have almost nothing in retirement. We have amassed 25k in credit card debts and we are trying to decide if we should just sell the house now, rent and use our profits from the sale to invest in our retirement funds. But we are also scared of spending cash on rent and buying something in cash is just not possible where we live (in LA) for our family of 3. But we also don't want to end up cash-less. Any advice?

[@damondiehl5637]

You need to start doing your Baby Steps. Get a budget figured out and change your lifestyle and stop going into debt. That needs to stop, today. You probably need to find a job.

[@stacyg585]

@@damondiehl5637 On it. And actively looking while also doing side gigs like pet sitting and tutoring. Yes, we overspent. Yes, fully accepting my mistakes. Just trying to decide if it's worth selling a home we love.

[@frankish5314]

I'd do a Traditional IRA and get the tax benefit. Hopefully his employer can do a 401k but I didn't hear what he did for a living.

[@jimmymcgill6778]

Do a 401k if your company offers it. Do the max. And do the max catchup. Dave really didn't give any advice.

[@DoctorSmartyPants]

Caller is not old enough to make catchup contributions, but otherwise agree.

[@jimmymcgill6778]

@@DoctorSmartyPants In two years, he will be.

[@alinatamashevich3354]

@@jimmymcgill6778 What is the name of your investment firm?

[@alinatamashevich3354]

@Jimmy, do you even understand the scope of this show? Quit making troll comments

[@kbanghart]

@@DoctorSmartyPants what do you mean by catch-up contributions?

[@Googliaooota]

If you make close to six figures before age 50 and you're incapable of doing the math to figure out how to retire on your own, it begs the question ... how were you smart enough to make that 'almost' six figures

[@ilikeshroomgals]

I hate to say this but USD is the best performing asset this year.

[@blackworldtraveler3711]

I was in Europe all summer and it was great. Met many Americans there taking advantage of it.

[@AC-qo8oq]

Not better than ibonds

[@tshandy1]

@@AC-qo8oq - iBonds are great. But you are limited to $10K investment.

[@Lon1001]

It would be even better if it were in a CD or a high interest savings account because that would be an additional margin

[@alexpearson8481]

Like Ray Dalio said: “it’s the least trashiest”

[@ethangamer3173]

48 year old *YOLO*

[@bertiliatejada1386]

How much money did he say he has in savings?

[@annachaney5652]

There’s a commercial for life insurance and the parents tell their pregnant daughter oh funeral cost $8000 oh we wouldn’t have the money for that if you don’t have $8000 save what are you doing having a baby

[@swannyriver75]

Sir you over spending I make less money pay more in rent and still manage to save a little stop buying video games

[@roythousand13]

Most people will not be able to retire.

[@blackworldtraveler3711]

Many didn't plan for retirement.

[@roythousand13]

@@blackworldtraveler3711 ,that is 100 percent true.

[@hvaball150]

so the retirement rate has been less than 50% then???

[@chubbs1942sf]

He is better off than 85 percent of the U.s.a, ppl who say this is sad haven't seen sad.

[@user-tj5he3uf2l]

I just turned 49 years old. I have three houses only mortgage debt of both properties. One house is paid off. I don't have an emergency fund and have 42000 saved for retirement. Should I stop saving for retirement and start and emergency fund. I have been putting 1200 a month up. Please help suggestions wanted.

[@damondiehl5637]

You should follow the Baby Steps. Baby Step 1 - Save $1,000 for your starter emergency fund. Baby Step 2 - Pay off all debt (except the house) using the debt snowball. Baby Step 3 - Save 3-6 months of expenses in a fully funded emergency fund. Baby Step 4 - Invest 15% of your household income in retirement. Baby Step 5 - Save for your children’s college fund. Baby Step 6 - Pay off your home early. Baby Step 7 - Build wealth and give.

[@scarpfish]

Start saving for it now, because fatalism never helped anyone.

[@stewdogg42]

I’m 48 and I have $225k in retirement savings. I’m adding $30k a year to retirement. I feel like I’m so far behind I’ll never have enough saved in retirement to live comfortably.

[@lorrainei1622]

You’re doing good! I know people in their 40s who have nothing saved for retirement.

[@DeanBKK]

By the time you're 65, that $225k will have grown to over half a million. Keep going! You can also retire on far less if you move overseas.

[@babblesp1367]

You have money for it! That’s the main thing. A lot of people don’t.

[@damondiehl5637]

$225k starting amount with $2.5k added per month for 17 years at 8% is $1.95 million. But you need to have that money invested, not in savings. Even in a high yield savings account, you are barely doing better than inflation.

[@babblesp1367]

@@damondiehl5637 most people don’t even have that much money per month to invest, let alone to live off of.

[@williamlucero1349]

Sounds good but we know nothing about his fiancee's financial situation. It gets complicated. Good luck!

[@John3.36]

Inflation impacts all. When you cash your investment out it will also be impacted by inflation.

[@shanep2760]

Why would you keep $20k in a safety deposit box? Just put it in your savings

[@jimhandler1129]

I thought that was so weird

[@jdjose3268]

It’s frustrating just listening to him

[@madness03]

if you want to hold your money and not let inflation affect it turn it into gold and at least it won’t lose its purchasing power

[@basichistory]

Difficult position to be in with no savings

[@blackworldtraveler3711]

He has a good head start. All up to him.

[@tortoisehead30]

Watch the video. He has $22k in savings.

[@Casey-summer]

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.

[@mellon-wrigley3]

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.

[@sloanmarriott5]

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.

[@Gallo-firestone]

​ *@sloanmarriott5* That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this consultant?

[@sloanmarriott5]

"Gertrude Margaret Quinto" 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

[@geeman4770]

0:27 / 6:13 I'm 48 and Have No Retirement, What Should I Do? Marry a 90 year old rich woman.

[@clarifyingquestions]

Pay offf the truck or sell it and buy something way cheaper something befitting a 48 year old man who has zero saved for retirement. In other words , he has a retirement hole "debt". and needs to get after that with Geisel intensity. From 18 - 48 yrs he has missed consistent 15 % saving and the magic of compound interest.

[@NYNC88]

Did your phone auto correct from gazelle to Geisel?

[@clarifyingquestions]

@@NYNC88 No, that is all me. My bad.

[@sanjaypatelmd4669]

Cut down your expenses and live like poor and start saving for retirement 50% of your salary!

[@aolvaar8792]

Get a Gubment job>> 43% pension @ 20 years + SSA>> ~$5K/mo

[@chrisforker7487]

I’d be suicidal if I was almost 50 and have zero retirement savings! I just don’t understand people, I guess most of it is lack of education in the school system and parents not instilling good habits.

[@johnc.9133]

I also think many don't realize how fast retirement age comes, and how much is needed to fully retire.

[@dtom1145]

What did he do with all his money before his great revelation?

[@HermannTheGreat]

Exactly, you're spending a ton if you make 80k with nothing to show for it.

[@TheTurdballs420]

Boomers be like: “I’m 57 and I think it’s time to get serious about retirement” 🤣

[@blackworldtraveler3711]

He's a GenXer These are the next generation of boomers close to retirement age with the same bad financial habits. Millennial boomers are next.

[@ghostbird92]

Seriously, so dumb. How could it never occur to them that they'd have to save for when they no longer work? Good god

[@dansdrumchannel9239]

Fortunately for us older folks, we have younger people around to explain how things work to us.🙄 obviously every generation has its share of nincompoops, like some of the millennial I have observed wearing ski hats in August😂

[@minimaxmiaandme.4971]

You obviously don't know any boomers. I am and most of my friends are in good financial shape.

[@jlmoses16]

Considering the YOUNGEST boomers are now 58, I'm not sure who's more confused...you, or your hypothetical "boomer."

[@lukeharris2622]

✝️🙏

[@ProCoach2373]

A natural saver with no money in retirement?

[@cuh720]

48 years old no retirement. man idk i would give up

[@kbanghart]

Why? Because of money? I mean, you can't take your money with you when you die, so...

[@mocheen4837]

You need money to eat

[@HermannTheGreat]

On an 80k a year income? He could retire in 12 years if he saves half his income each year.

[@endofquoterepeattheline7516]

@@HermannTheGreat it’s hard to save 50% of 80k income man…to start there’s this thing called taxes

[@jamesof7seven]

the part not mentioned is you get to retire at 70 or 75; congratulations on having 1 year left to live retired - pensions stopped in the 70s; our generation just plain got screwed

[@markcowan3366]

He's been living that single, play boy lifestyle!

[@blackworldtraveler3711]

Somebody must have kicked him in his financial pants recently.

[@ginoturano6821]

How old is it

[@amireallythatgrumpy6508]

About a week.

[@commonsense-og1gz]

a roth ira will not get you anywhere that late, he would be better off buying a trailer to live in, and renting out the house.

[@prettybrwneyez7757]

Agree

[@skiies23]

Time to get a job that is $100k+

[@jasonleatherwood2172]

This guy just paid closing costs to raise his interest rate wow

[@alisatjaden3906]

Agree! Was thinking about refinancing. Closing added $5k for a lower rate. My mortgage loan was close to paid off...NO thank you.

[@bird7464]

For the future readers- we did not refinance our house- we just started paying extra principle each time we could. I do it online.

[@lorrainea.285]

WHO IS THIS NEW GIRL?????? She seems veryyyyyy nervous😳

[@user-tj5he3uf2l]

well he doesn't seem easy to work with lol

[@godisgood5038]

Yes!!! Black girl magic!!!!! Great to see a BEAUTIFUL BLACK WOMEN!!!!!

[@godisgood5038]

@@mischaraine1645 Are you? What race is she genius?

[@godisgood5038]

@@mischaraine1645 Me too sis😂💕💕! She's actually biracial...you know we can identify our own😂...look at her hair and lips (no injections, all natural). I hope you have a blesses day queen!

[@patty109109]

A “natural saver” with no retirement?

[@jimhandler1129]

That's what i was thinking. He needs a lot of direction, single making 80K a year should have a lot more than 42K plus he has a car payment.

[@HermannTheGreat]

Lots of higher income earners like this. 15-20k in the bank for purchases or emergency, but ZERO retirement savings.

[@kyhermit]

Dave seemed bored with this one.

[@robertatkins272]

Just hard to hear the guy. I’ve noticed Dave rushes these calls off the air when the connection is bad or someone is not speaking clearly.

[@tomdriscoll7041]

Did I miss something? But whatever happened to this lady that's broadcasting with Dave.

[@4everyoung869]

She is beautiful

[@tdgdbs1]

Do not get married, $80K is comfortable living if you are single.

[@PhilipMarcYT]

Yeah, but living alone is kind of sad. No one to share life with, at least for me. That's why I want to marry.

[@ibarix]

someone asks you what your salary is and you answer how much you make per hour? why don't you tell us how much you earn per millisecond? geez

[@damondiehl5637]

Use a rough figure of 2000 work hours per year. $40 per hour times 2000 = $80,000/year

[@outdoorsnevada4138]

Ideally you will have a minimum of 30 years compound interest on your investments before you retire. If you start in your 20s or 30s you will be able to retire in your 60s. If you wait until your 40s you will be working into your 70s to have the same amount of funds available in retirement. Start in your 20s or 30s people! May take you until your 30s to make enough to truly invest.... but when that money comes you better get at it and not spend it all.

[@donaldlyons17]

Well reality is far different than what some of us would like. With money there are just too few options....

[@angusblack9900]

You got 20 years , save up.

[@dummgelauft]

This guy peobably gets a part of his income in cash and pays no taxes on it. Hence the deposit box 😂😂😂

[@user-nd6so7yg2y]

Forget this huge crash of jobs and the economy. I have to talk about my pet peeve with money and credit. I had a neighbour for 20 years that would borrow money to the tune of 600 bucks because he had no credit and he was dam proud that the bank didn't trust his immature is.Then the other day a new neighbour moves in and she is 41 living with her sick 73 year old mother and her babies from 64 relationships with men. Her name is Joanne and she is very proud that she dropped out of high school at 14 with good marks so she could take care of granny who refused to sell her home and go to a nursing home. Joanne is financially on the edge and very proud that she has no line of credit for emergencies, no car so she bums rides and no teeth from having babies ????? LOOK, I'm not the bank so stop being so proud at 41 that you are a bum that the bank can't trust !!!

[@jehobden]

Why does he keep $ in a safe deposit box at a bank, earning no interest, when he could put it in a savings account and at least make 2-3% compounded monthly?

[@donaldlyons17]

Well I don't think anything besides high risk could yield 2 to 3% monthly?

[@damondiehl5637]

@@donaldlyons17 Treasure notes are currently at 4.375%

[@pauobunyon9791]

Get your home paid off keep working as long as you can invest wisely in the S&P500 or DOW Jones pray to God when retired disconnect the DRIP add it to your checking account write a will and leave it all to you wife kids and grandkids ....good luck seeing 100 !