How To Build A Comfortable Retirement Plan

[@JM-rq1ez]

Just max them both

[@Joseph-fr1rs]

Great video! You really connect well with your audience

[@shawnledford7677]

Awesome stuff! I agree, you first then kids college!

[@kirkroyse4705]

As long as I give 10% to God everything will work out 🎉.. just took over my father’s house payment my daughters both have Roth IRA…… God is good he will take care of our Legacy

[@8slkmic]

If someone has the same setup as you and don’t give 10% to a God, would things still work out?

[@kirkroyse4705]

@@8slkmic God always provides don’t put limits on God

[@PhinAI]

Thank you! Trading in 401k while leaving Roth idle. Wow!

[@catmom6830]

I love this series!!! Thank you!!! Please continue this series!!!

[@davelafferty605]

Excellent point about prioritizing retirement savings vs. paying for your kids' college. They may go to college or they may not...the degree they earn might be worthwhile or it may not...but there's a 100% chance that you're going to retire someday, so fund the sure thing first.

[@NipItInTheBud100]

The fact that tax rates have continued to go down over time is exactly why we, as a country, are in as much debt as we are in!!

[@kurtkremer4381]

Good stuff. Thanks!

[@bluegillmich]

My question is should my dividends be returned to me so i can pick the investment i want ( i believe buffett does it this way), or should i always be reinvesting all the dividends?

[@johngill2853]

Not nearly enough information For starters is this dividends from individual stocks or from funds? You can't get investment advice in a vacuum. For good advice you have to give all your information and the internet is not the place for that. You can go see a fee only be only financial advisor with a fiduciary responsibility for help

[@bluegillmich]

@@johngill2853 Stocks, im my roth

[@johngill2853]

@@bluegillmich from The limited information that I have I would definitely say that you shouldn't reinvest dividends in the stocks unless you think those stocks are the best stocks to buy. My biggest question is why do you think you can pick individual stocks and beat the market. Very few people do and the index fund in general is best for most people. Seriously look at professionals anybody who beats the index long term is considered the greatest ever and there's only a handful of them

[@bluegillmich]

@@johngill2853 Index funds are just like my 401k, my stock picks have to be more interesting than that. Lots of research, in general i am trying to figure out what Mr. Buffett does. ( honestly, may not ever know), He has a large cash position , so obviously he is not blindly reinvesting in all of his stocks he owns

[@johngill2853]

@@bluegillmich I can respect your choice but are you an investing for fun(interesting) or profit (historically most people don't beat the market long-term) You can't do what Buffett does. He's made some great deals through the year by buying whole companies and managing them better and also deals like he did with GE during 2008. The opportunities that he has aren't available to you because the size of his portfolio

[@dabrigalive]

Love the setup. Very relaxed and informative!

[@70qq]

ty

[@bdtn342]

Is a REIT good to have in a Roth IRA?

[@ygbodybuilder3023]

So explain why when someone dies social security does not go to the next of kin accept husband or wife or young child

[@johngill2853]

Because Social Security is insurance from death disability and old age. Social Security is not an account. Think of it this way it's the same way as your car insurance if you don't get an accident you don't get your premiums back from the car insurance

[@Cvvan]

You hit the trifecta Dustin… cool set up, nice drink and solid financial advice. Win, Win, Win.

[@theorydude]

How do I get that on my dashboard? Not seeing that version in the portal - limited release for now? Great info and format! Thanks.

[@theorydude]

Just saw your email - looking forward to this!

[@brucesmith6868]

Thanks Dustin great information love the layout.

[@52CA]

I’m planning on 10% or less of my income in retirement. Yeh no kidding I’m serious. I make pretty serious bank but live ultra cheaply. What most young financial planners today don’t understand is my generation only made about 3.00/hr not the 6 figures these kids do now in their 20s-40s. People today makes crap tons of money and live like it too. Which is why they need crap tons in retirement.

[@richardallen1816]

Frugal is a good thing.

[@johngill2853]

People today don't actually make a crap load of money. Maybe the top 10 or 20%. Median income in the US is $31,000

[@stephenjones2873]

Like the video. Anyways question the pay taxes now vs later.

[@sonai1982]

Ur the best, if was rich I would definitely use u. But i am. Home maker who saves400dollars month. But u help me soo much. God bless u.

[@kckuc310]

That’s why I’m in traditional my taxes will be lower definitely. Best real example I’ve seen on the internet. Normally folks show saving the same but people don’t save the same, they save less for a Roth because it effects take home pay.

[@charlesbyrneShowComments4all]

Nope not always the case. It depends on your situation. We max the Roth. We have 2 kids under 16 so we currently benefit from the child tax credit And we have the ability to max out both our IRAs. So even though we are just in the 22% bracket we are effectively paying 7% now. When we retire we won't have those credits and deductions so we will be in the 15% or higher depending on future tax law and other factors. We also have pretax options we contribute to, but our goal is to max out Roth first then the pretax. As long as our current effective rate is below 15% we will max out Roth first. We will prorate it when it goes over. What some fail to think about with pretax retirement are 2 things. Assuming that tax laws on Roth remain the same and using his 20 year $6K example we will have had 16-19 years of that with tax low tax rates between 5%-9%. To keep it simple let's assume it was a steady 10% after credits so we have paid $12K in taxes for the $120K with no more taxes to pay on a $200K+ portfolio at retirement. If we had a traditional IRA with the same situation even if it lowered us into the 12-15% we'd still have to pay taxes of 15% or higher on $200K+ portfolio. So at a minimum we'd be paying $30K+ at retirement on the full balance. And with social security tax, and RMDs and your pretax withdrawals counting as income you might be paying in higher brackets over 15% and dont forget the raising your medicare premiums from pretax income. I understand what you're saying about it being easier to max out a Roth with the tax savings, but it doesn't apply in our situation. Even if we didn't have kids we are in the 22% bracket so the tax savings of $1,320 per Roth doesn't hinder us from making the max for each Roth because of our income. For those in the 12% or lower you're talking $720 or less in savings in each roth so it might benefit them to max out or at least put 12% more or whatever their tax rate is into retirement for the compound growth. For those in higher income brackets bringing in $12K per month or more could easily max out the Roth then be able to put other contributions into a pretax retirement option. Second, for those in the higher brackets making under $144K single or $214K MFJ (22%-24%?) and can easily max out the IRA tradtional/Roth they need to ask themselves what are they currently doing with the current tax savings of $1,320-1,440 per Roth each year? Are they putting it towards their mortgage, paying off debts, a 401K, kids college or into a taxable brokerage? If it isn't being used for those things then you really aren't maximizing your tax savings.

[@johngill2853]

@@charlesbyrneShowComments4all you're thinking is wrong or at least part of it Your current Roth contributions are taxed at your marginal tax rate not your effective tax rate. You need to find out what your marginal tax rate is now to make the comparison. Contributions are always at the marginal tax rate and withdrawals are always at the effective tax rate (after you include other stuff like pensions)

[@kckuc310]

Yes kids come after!

[@jaredcharland624]

Came for the financial advice, stayed for the Buffalo Trace

[@edwardhogan9422]

Question? 45 age male. 25000 saved 401k. 10000 in other investments like Robin hood. Want to retire 65 age. Social security? Idk. Single.

[@robroyig-robroyphotography9225]

Thanks for the great video Dustin! Im 57, and i was late to the game for retirement planning unfortunately. My company has a real good 401k program plus i have a regular retirement IRA, so i have something, lol. But thanks for explaining the retirement numbers including Social Security and equity from home! It puts those “out of reach” numbers a little more attainable

[@markaz1959]

Thanks

[@bobdrawbaugh4207]

I never knew clients money didn’t go to Jazz. That is really huge. I’m sure you’ve stated that before.

[@meandmissy1970]

Thank you. Great information.

[@richardallen1816]

A bad plan might be better than no plan at all? I am due to retire soon, and I have saved a penny or two. Its trying to gather everything into one cohesive plan that is proving difficult.

[@wdeemarwdeemar8739]

With Obama care subsidies and IRMAA and the likehood of me or the wife dying earlier than anticipated and now moved from married filing jointly to single and losing that standard deduction benefit. That alone will be more than 8% and that is not considering how much of of my Social Security is being taxed I want none being taxed… I want to have as little in traditional as possible.

[@johngill2853]

The Obamacare subsidies, the chance of a spouse dying or IRMAA is a great reason to choose ROTH or a higher percentage of Roth than traditional But you shouldn't care if you pay taxes on Social Security but did you pay less taxes in total. Well I sympathize with your thought on paying taxes on Social Security I still rather pay less taxes in total then care what is exactly taxed.

[@kilohjonson]

I just noticed you are missing a finger on your right hand.

[@bradschmittling8118]

Property taxes Go up alot every year

[@johngill2853]

I'm confused by your saying 15% tax in retirement. Our tax system is progressive you may pay 15% on some of that money in retirement but not all that money retirement. Comparing of Roth and traditional you must look at the effective tax rate in retirement and the marginal tax rate while you were working

[@KaiCam808]

Because my dividend roth IRA is doing better than my aggressive taxable. :p

[@KaiCam808]

Already a customer.

[@ygbodybuilder3023]

Well here is how my retirement looks like without all the numbers. I can retire after 20 years of service. I first will be getting a lifetime pension when I retire since I'm a state employee. Keep in mind that pension can be passed on when I die. I also have 457 which I can touch soon as I retire no matter the age. I also have a Roth IRA. With those three right there plus all the money I have in my savings and individual investing accounts , I'll be pretty good. And I'm not waiting to 65 to retire. I'm out the door by 48

[@dawnjohnson8739]

40? Wow! That’s nothing.

[@bz.B]

Like the video, very informative as usual and your home office setup! Please do more of this "Jazz After Dark" series..

[@johngill2853]

No if you make $80,000 now it's not the same as making $80,000 in retirement. Your contributions are at your marginal tax rate and your withdrawals will be your effective tax rate.

[@crisduran2876]

👏👏👏👏

[@tomgodfrey2658]

Fear monger! All the analyst is based on lower taxes in the future. I will be a big Uncle Sam customer once I’m forced to take my RMD!

[@Jazzwealth]

No fear at all. Just numbers ;)

[@johngill2853]

For most people rmds are not a big problem and if they are for you you should plan for it. Most people will pay lower taxes in the future because they're effective tax rate and retirement will be lower than their marginal tax rate while they were working. It's not about the tax rates in general it's about your tax rates and your taxable income