It's harsh, but if you want to retire, you need to hear this

[@Theodore-tu5zg]

Good video, We can’t just keep thinking everything will magically fall into place. I’ve seen so many friends who retired without proper planning, and it’s been a struggle. They expected to coast through retirement, but that’s not how it works

[@Franky-j6e]

I just turned 44 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 55. How best do I maximize my savings of over $220k

[@EmiliaSmith-h8v]

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

[@louisahernandez]

Agreed, I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 5.5 hours a week, with barely 20% short of my $3m retirement goal after subsequent investments to date

[@Liamphotos]

Do recommend your CFA...

[@louisahernandez]

My CFA, Joseph Nick Cahill, is a renowned figure in his field. I recommend researching his name online; you'll find all his credentials and everything you need to work with a reliable professional. With many years of experience, he is a valuable resource for anyone looking to navigate the financial market.

[@nicolasbenson009]

We experienced the peak of our era, and now it is gone. Recession is tanking everything including 401K. My retirement equities portfolio of $750K is in the reds. I keep losing because of inflation. This world will fall to the corrupt rulers in the same way that Rome did. I'm sorry if you're thinking about retiring and you're worried that your pension won't be enough to meet the rising cost of living. Horrible foreign policies everywhere, bad regulatory policy, bad fiscal policy, and bad energy policy.

[@TinaJames222]

For the average person, the strategies are fairly demanding. In actuality, most professionals who have the necessary abilities and knowledge to complete such occupations do so successfully.

[@Vincent-j8u]

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.

[@sharonwinson-m8g]

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

[@Vincent-j8u]

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.

[@LUCIASMITH-d1z]

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.

[@WilliamsBensong1x]

"Retirement isn’t an end goal, but a journey best secured by careful and consistent investments."

[@ChristopherJeffreynx8]

Well said! Retirement is the reward of disciplined investing over the long term, not just a destination.

[@JosephEricx2y]

Well said! My adviser guided me through retirement planning, ensuring my investments were strategically positioned for long-term rewards.

[@MargaretOlivia2u]

That's a great point! Finding a reliable financial adviser would be essential for me to ensure my retirement plans are well-structured.

[@JosephEricx2y]

My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further.

[@MargaretOlivia2u]

I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you

[@Dantursi1]

I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.

[@Rachadrian]

Diversify your holdings across several asset types to reduce risk rather than putting all of your eggs in one basket. If you don't know a lot about finances, speak with a financial expert.

[@michaelschiemer3]

Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.

[@Olsontim21]

@@michaelschiemer3 pls how can I reach this expert, I need someone to help me manage my portfolio

[@Olsontim21]

@@michaelschiemer3 I find your situation fascinating. Would you be willing to suggest a trusted advisor you've worked with?

[@michaelschiemer3]

Annette Christine Conte is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@gizmobowen]

After crashing around on KZbin, paying for planning software, hiring a financial planner and really trying to wrap my head around the idea of figuring out my finances and how they'll work in retirement, I wish I had seen this video at the very start. There are so many true statements in this video about the whole process of planning for retirement that I hope everyone who is going through this can watch and learn from you. The whole process is very confusing and very easy to get lost in because it just isn't clear what the purpose is. Thank you for putting this video out and helping me understand a lot of the confusing questions I had about retirement planning tools and what they're good for.

[@Adam-dm8wg]

It's easy to get caught up in just saving, but investing can really help your money grow over time. Even with a modest salary, there are smart ways to make it work for you.

[@TeresaMicheals]

Exactly. You don't need a huge salary to start investing. It's all about making the right choices. I started with small amounts, and it's amazing how much it can add up if you stay consistent.

[@SergioRomano-nj8eb]

I've been putting aside a bit each month into a diversified portfolio. Even if it's just a few hundred dirhams, over time, it starts to build up. Plus, there are plenty of low-cost options out there, like index funds, that make it easier to get started.

[@Adam-dm8wg]

That's good advice. I've also been thinking about how to invest smarter. The cost of living in the UAE is high, so it's crucial to make sure our money is working for us. But I'll admit, sometimes it's hard to know where to begin, especially with so many options.

[@RomanFranklin-lr3ri]

That's where I'm stuck too. I know I should be investing, but I don't want to make the wrong move and end up losing money. It feels risky, especially when you're not earning a lot.

[@SergioRomano-nj8eb]

That's a valid concern. I felt the same way when I first started. What really helped me was talking to someone who understands the market here in the UAE.

[@IamJonny-o4v]

The current market/economy is unnecessarily tougher for boomers/senior citizens, I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.

[@LUCIASMITH-d1z]

Just buy and invest in Gold or other reliable stock , the government has failed us and we cant keep living like this.

[@MattsMkia]

Yes, gold is a great investment and a good bet against the devaluating dollar, been holding some for awhile now, I’m grateful my adviser’s moment by moment changes in the market are lightening quick, cos who know how much losses I would’ve had by now.

[@winifred-k9e]

I envy you, I’m still trying to recover from losses I incurred in 2021/2022, who is this investment adviser you work with, I’m intrigued and I could use some quality guidance

[@MattsMkia]

My CFA Melissa Terri Swayne , 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.

[@JacobsErick-u8r]

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.

[@Riggsnic_co]

This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried.

[@JacquelinePerrira]

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

[@kevinmarten]

I wholeheartedly concur; I'm 60 years old, just retired, and have about $1.25m in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.

[@Jamessmith-12]

Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.

[@kevinmarten]

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@Jamessmith-12]

She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.

[@djl9731]

Very useful video. Thanks. I'm sure it has been mentioned elsewhere in comments to your videos, but a fee based, rather than a percent of assets under management approach to billing might open the floodgates of new clients.

[@janethunt4037]

This is the first explanation I've seen of how to use the Monte Carlo system. Thank you.

[@williamrogers1219]

Free retirement planning tools such as Personal Capital or Boldin can use Monte Carlo simulations based on the data you provide.

[@josephbangs6111]

Best historical data shows people should stayed invest in index funds , avoid bonds and fixes income. Risk is not incorrect withdrawal rate, it not keeping your $$ working in the market

[@troysublett8493]

Very good information sir! Laid out in a way a lot of people can understand! Well done!

[@willlsmith8063]

I find your content to be superb..........all the best from Scotland

[@IliasRetsas]

Bring Stephanie Janis Stiefel on the show. She changed my life Financially I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Stephanie Janis Stiefel, for her expertise and exposure to different areas of the market.

[@AnnaMuller234]

How can i reach her, if you don't mind me asking?

[@IliasRetsas]

Well her name is 'STEPHANIE JANIS STIEFEL'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@LauchlanBender]

Been debt free for two years thanks to Stephanie Janis Stiefel. So sad to see my friends in their 40s with car loans, mortgages and credit card debt.

[@MafeTobar]

Thank you for putting this out looked--up STEPHANIE JANIS STIEFEL, her consuIting page came up at once, she seems highly grounded

[@Helgarichter567]

The thing is people often doubt the prospects of financial advisors like Stephanie Janis Stiefel in business/markets today. Well it gives me more time to get ahead while they stew in their own pity and doubts as they childishly complain about those spreading the word

[@philiptornelli3477]

Interesting perspective. After working with several financial advisers who showed my Montecarlo analysis I have found that few if any Advisors properly account for large non-linear expenses. Examples include a replacement car, new flooring, roof, storm damage repairs, appliances, etc. As a result, I might think I am living way below my allowable spending only to have one or more of these big-ticket items sneak up on me. In my do-it-yourself case, I have adjusted my annual expense budget to include 20% for such surprises. It might be of value for advisors to make a bigger point of including such expenses in their clients' annual budgets and spending analyses. Otherwise, clients could see a big annual spending budget, such as you have shown here, and overspend only to find out later there was no surplus when these types of expenses are included.

[@jdestroyer9470]

Boldin..Bolden... aka New Retirement allows one time future expenses on their software

[@philiptornelli3477]

@@jdestroyer9470 Thanks. To clarify, it's not that their software failed to allow these expenses, it's just that they didn't weigh it sufficiently for the impact it's been having on our annual expenses. Of course, each person is going to be different.

[@meibing4912]

Of course a mistake if not taken into account. But should already be part of your overall budgeting. Especially if you live in a house which always will need constant care.

[@Insightfill]

​@@meibing4912 Good point. I'm putting aside about 3%* of my house value aside each year for small and large repairs/upgrades. And, if a $30k car lasts about ten years*, then I'd better be budgeting about $3k/year for a car. (* Yes, "your mileage may vary." These are rough numbers.)

[@bdtrap]

I was going to mention NewRetirement/Boldin also, but your original point is still valid - a lot of planners don't account for big one-offs. My plan includes a $600,000 yacht when I retire. I've planned with Schwab and with Edelman and they've both accounted for it, as I've also done in NewRetirement. But I came to both Schwab and Edelman with the yacht problem, they didn't proactively ask. (Of course, how would they have known to ask?) Something else I like about NewRetirement is the ability to model different scenarios. What if I got a less expensive boat? What if i bought an investment rental property? Pretty cool feature.

[@Susanhartman.]

I am currently in my 50s and This is no time to taper retirement savings. I want to max out my retirement contributions and I also have another $200k in a savings account that i want to invest in a non-retirement account. Where should I invest it now?

[@mikegarvey17]

Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert

[@mariaguerrero08]

In fact, I had no prior experience or understanding when I began investing in 2020, but by the end of 2023, I had made a profit of almost $850k. All I had been doing was going by what my financial expert had told me. This demonstrates that all you truly need is a professional to assist you; you don't even need to be a great investor or put in a lot of work.

[@ThomasChai05]

@@mariaguerrero08I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?

[@mariaguerrero08]

My CFA ’Izella Annette Anderson’ , 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.

[@Grace.milburn]

I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.

[@CD-ql9hz]

Excellent thoughtful video!

[@franks4973]

I like your approach, makes more sense to me. Sounds like this could be adapted to a dynamic withdrawal strategy. Example: my std return is 8%, at end of year I could withdraw the 8% plus another 4% (for safety), and my excess $, I can put into a Roth to use for the inevitable down ear years in stock market. In down years I don’t withdraw until I raise to my 100% of portfolio value. In the last 30 years there were 3 down years in every 10 year cycle. If I save enough cash/Roth for 4 years I should never run out until I hit 75 years and RMDs kick in and I have to take out bigger amounts.

[@learning.finances]

Are you targeting a 6% withdraw in those examples? It seems so. Just wandering how you came to a 6% withdrawal rate vs. 5% vs. 4% vs. 3%.

[@DevinWiebe]

I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $200k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic

[@Georgemarco-j4d]

I want to compliment you, you have said it all. I am a little business owner and I really want to expand my business to the next level by making myself an investor but I really don't know how to go about it..

[@DevinWiebe]

Honestly speaking.... I will continue to trade / and stick to harriet dixson / daily analysis and guides as long as it works well for me.

[@henry-d6k4z]

Waking up every 14th of each month to $210,000 it’s a blessing to I and my family… Big gratitude

[@faithful-x1v]

Without a doubt! mrs harriet is a trader who goes above and beyond. she has an exceptional skill for analyzing market movements and spotting profitable opportunities. Her strategies are meticulously crafted based on thorough research and years of practical experience..

[@Putcal7i]

hello from norway I'm retired at 47, went from Grass to Grace. This here reminds me of my transformation from a nobody to good home, honest wife,$35k biweekly and a good daughter full of ❤ I’m forever grateful harriet dixson

[@hydrogolfer]

Hi Eric, great video, this video identifies a 6% initial safe withdrawal for a 61 year old. What would that percentage be for a 55 year old?

[@badraoul69]

This is a really informative video. I like the guardrails systems a lot. I always the 4% rule a bit suspect. How do guardrails augment the bucket strategy? Right now I am holding about 5 years in cash-like vehicles (eg, money market, bonds, etc) and the rest in equities. Could I use the guardrails to advise on the withdrawal to the 'cash' bucket?

[@philipnicholson3216]

Since when do Monte Carlo simulations use "historical data" ? Every one I've seen does randomized performance examples based around an "average return" going up and down how ever many standard deviations you imputed at the start. SOMEBODY correct me if I am wrong!

[@meibing4912]

Huge fan of guardrails. People are very adaptable - we can do with less some years if needed. That's why its important to start with a fairly high withdrawal rate, as underspending in retirement is very real - and you are very like to spend less over time (if you have health insurance etc. covered). This is also why I forego inflation adjustment. I have a very large nest egg and can live years by just increasing my debt (which is tax free), so many will not have the flexibility I have. But you do not need much more than a million before it makes perfect sense to use guardrails to optimise your early spending options.

[@restingsmirkface]

As someone in their 30s with a 100% chance of success, I can confirm that #1 is correct for me.

[@bradtanner8357]

Your example uses $ amounts that are way higher than most people have available for retirement. Please create a similar video with more typical numbers.

[@lindsaynewell6319]

Strong support for point #1 with evidence to back it up - the retirement planning software that I use allows me to enter optimistic and pessimistic rates of return on my investment accounts and then calculates an average. If I increase the optimistic ROR then my Monte Carlo score gets WORSE !!! I understand that this is because the range of possible outcomes is wider, but it shows that MC % isn't a good way to judge whether spending and savings match up.

[@jasonbroom7147]

More than 18 minutes of babbling, when all you needed to say is this: Learn to live on a budet and continue to live on a budget, adjusted for actual investment outcomes, during retirement. Financial planners always avoid the "B" word and always complicate things...so you'll invest more, putting more "AUM" (assets under management), which helps them get rich off all the money YOU have saved. "Guardrails" and "spending parameters". Jeez, man...

[@euro6115]

Can’t wait until AI will do all this planning for me

[@glensmith491]

Don't need AI, most of the planning is basic programming and knowing the rules and Monte Carlo (well, that algorithm has been used since the early 90s at least though I first used one for construction planning). LLMs don't deal with the unknown risks and are worse at black swan events than even us poor humans although Monte Carlos are great for that. Also, a big reason you need a person is that the biggest problem is we do stupid stuff for emotional reasons.

[@bdtrap]

AI can't determine your goals, tho. 🫤

[@mikestubin6560]

Hard to take seriously a guy who keeps saying “an a hundred percent”

[@sandblast5636]

In America, you better get a job with the government and you won't have to worry about all this BS.

[@bdtrap]

Government jobs are low-salary handcuffs. Sure you have (the illusion of) job security; but the pay rate is garbage. I suppose it's 6's on which gives the better retirement, but the private sector gives more optionality on how to get there.

[@sandblast5636]

If you're going to college, find a Guy or Gal with rich parents and fall in love. You'll be set for life.

[@ectopet]

Buying a gun makes retirement planning much easier.

[@Timmer-qp8sy]

Huh