June RETIREMENT Portfolio UPDATE + YouTube Income💲

This is my June retirement portfolio update. It’s my first month in retirement! I share what accounts I have and how much is in each account. I also show them in buckets (bucket strategy). I share my plans for rollovers and conversions. If you want to plan for early retirement, this video is for you!
Subscribe: / @happyonmonday
**I am NOT a financial planner! This is just the story of my personal financial planning for retirement. You should do your own research and talk with your financial planner before investing.
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[@CharlesAnsman]

Im very impressed by how well you have this planned out. It's my pleasure to watch your vids here on KZbin, The earning from this channel is well deserved. I with you 100% on your quote at the end !!!

[@HappyonMonday]

Thank you so much! I appreciate it! 🙂

[@sunkissed6220]

Another helpful video 👍 I predict your KZbin revenue will only increase as you continue to provide us with this valuable content 🙂

[@HappyonMonday]

Thank you. You're so kind! ☺

[@DestinationRetirement]

I agree. Your manner of presenting is clear, concise and not flashy, which speaks to a target market. Well done.

[@HappyonMonday]

@@DestinationRetirement Thank you! ☺

[@Battlekitte]

This is so helpful! We have similar funds at 57 years old. Feeling more confident about retirement now that the house has been paid off.

[@HappyonMonday]

That's awesome! It's a great feeling having that mortgage paid off! 😃

[@skepticalmechanic]

That’s a must!

[@phammond8155]

I looooove your last quote! Yes, less IS more!! Americans can have a hard time with this idea but they keep us rushing, we won't have time to think for ourselves.

[@HappyonMonday]

100% agree!! 😃

[@user-bg9em7ch6k]

I Love that you are demonstrating how people can retire on far less than the scary figures that are being thrown around. This is so much more accessible!

[@HappyonMonday]

Thank you! That is my goal! 😁

[@walonguy111]

Hi Julie, your videos are awesome! They are very helpful and informative. I retired a year ago at 62 to help an aging parent and watch my youngest grand daughter. I switched from one job to another, I love it! Keep up the great work and congrats on your success.

[@HappyonMonday]

Thank you so much! ☺

[@meloniemurray6086]

Thank you so much for all that you are doing to help all of us. I love the fact that you write out what you are speaking about.. it is so helpful for visual learners and keeps my mind from wandering about the day-to-day stuff. Thank you for being so transparent and open about everything. Be Well and Be Happy.

[@HappyonMonday]

Thank you!! I think it's the teacher in me. 😄

[@user-zl2wu4yv6c]

I enjoy the way you explain things and your personality! Some financial channels can create anxiety. Love your channel name!

[@HappyonMonday]

Thank you!! 😁

[@sallyprzybil2404]

So far this year the Market is doing great. My Index funds are doing good. I’m happy about that.

[@HappyonMonday]

Yay! Fingers crossed for the rest of the year! 🤞

[@TigerOnFIRE411]

Oh wow, I retired June 1, 2024, but I am 52. Congrats!!!!!....

[@HappyonMonday]

Nice! Congrats to you too!! ☺

[@golt4576]

Great job Julie. Glad your KZbin funds went up that's the cherry on top plus it allows for those ROTH conversion.

[@HappyonMonday]

@golt4576 Thank you! Yes I am super happy about that! 😀

[@Mightyluna]

I so appreciate these videos and the transparency! Your YT income is well deserved!

[@HappyonMonday]

Thank you so much!! ☺

[@vernshird711]

I'll add that if any of your viewers currently have, or have access to, a 457b in their plan...please enroll. They can be accessed at any age once you separate from service. Many gov't employers and non-profits offer them. It is a great tool for early retirees to use.

[@HappyonMonday]

Yes - I agree! 😁

[@patriciamaldonado8046]

Very good video, Thank you for showing us your actual numbers, they a re facts and it's so easy now to see and understand your plan... You are a breath of fresh air!

[@HappyonMonday]

Thank you so much! ☺

[@billholden5271]

Hello Julie, boy you are good. That was a well thought out plan. I am still working at 65. Very glad I get to work from home. I got caught in 2008 and lost everything so I had to start all over. My retirement account is doing good. Even though Fidelity tells me I am extremely out of balance. I don't listen to them. I need growth so I am still all invested in stocks. I know the risk. Right now, the stock market is being good to me. Look forward to watching your progress. Thank you for the videos. All the best to you.

[@HappyonMonday]

Thank you!! 2008 was a terrible year!! 😔You need to go with your gut on how to diversify. 👍

[@sallyprzybil2404]

Cheering for you!

[@virginiabrewster8444]

Congratulations!

[@HappyonMonday]

Thanks!

[@regineb9245]

So much of what you share resonates with me and I find it all super helpful!!!

[@HappyonMonday]

I'm so glad! ☺

[@melissaborges4601]

I love the graphics- thanks for sharing - this is very helpful

[@HappyonMonday]

Thanks and you're welcome! ☺

[@StephsHealthMatters]

I love this channel!

[@HappyonMonday]

Thank you!! ☺

[@peacockcali6331]

Love your channel, keep up the good work

[@HappyonMonday]

Thank you!! ☺

[@FIRE_DrNinjaTurtle]

I love simplicity.

[@plum_colored_dahlia]

Congratulations on your KZbin income! 😊

[@HappyonMonday]

Thank you! 😀

[@abrahams.lincoln6749]

Awesome job. 👍👍🎉

[@HappyonMonday]

Thank you! ☺

[@r.joseph8911]

I love the honesty and your down to earth feel in your content.

[@HappyonMonday]

Thank you so much! 😀

[@livingworkingoutsidebox]

Congratulations on your KZbin success 👍 More so for your financial success and early retirement 👍

[@HappyonMonday]

Thank you!! ☺

[@avizcaya9263]

Seeing you for the first time. Subscribed. Very well explained.

[@HappyonMonday]

Thank you - welcome!! ☺

[@CourtneyRobinson]

Thank you. We have a lot on common! ❤ Love your videos. I’m really enjoying following your journey.

[@HappyonMonday]

Thank you so much!! ☺

[@alg1457]

Great video. Need a lot of courage to retire this early so will root for you!! Go girl!! Wish you the very best!!

[@HappyonMonday]

Thank you!! 😁

[@FIRE_DrNinjaTurtle]

I love how you are changing your background. You are doing fabulous. My channel will be more basic, but I hope get out good information on retireing at 58.5 years old like you did. We did it differently, but we both made it. Whoooo Whooooo

[@HappyonMonday]

Thanks and hooray! 😃

[@bunnobear]

I am so happy for you with your June income, you so deserve it, your videos are so easy to watch and follow along. I went back to the beginning and you have really improved. I am working on my passive income, it is exciting hey 🎉

[@HappyonMonday]

Thank you!! Yes it takes a while to figure out what you're doing making videos!! 😄

[@LiveWithStocks]

I don’t know what’s the best, but it looks you’re on a right track 😁😁😁 Go Julie!!

[@HappyonMonday]

Thank you!! 😀

[@evasanz3466]

Thank you for the update. It's very interesting. As a European I'm not sure if I could retire early as you did. Enjoy your time with your grandbabies ❤

[@HappyonMonday]

Thank you! I will for sure. 😁

[@curtislake333]

You are so well organized and have your finances planned out in such detail, you are an inspiration for me to develop a more detailed plan. I also feel like I should want more, but I just don't, it's nice to know there are others out there with the same attitude.

[@HappyonMonday]

Thank you! Yes!! There's nothing wrong with wanting less! 😀

[@ibenglish]

Congratulations on the pay escalation via KZbin. Remember it’s still early and this channel will grow. I am glad you spoke about Roth coversions as many people don’t think of them and I will be anxiously following you on the topic for future tips. The one thing I would avoid is the reverse mortgage. As dialed in financially as you are I would probably get a little more aggressive and just keep a close eye on your investments so you can change funds as the markets dictates. Great job though Julie! Take a bow 👍🏻✌🏻

[@HappyonMonday]

Thank you so much! Yes I agree. A reverse mortgage would be a last resort for me. ☺

[@Grannystipsandtricks]

I retired from the educational system too! The DCP account was very helpful. We are working on Roth Conversions too🎉 keep up the great work and congratulations on your channel😎

[@HappyonMonday]

Thank you!! 😁

[@kristannonfire]

Congrats Julie on the continued growth of your channel and your increasing YT Income! Yay! Your videos are always very clear and detailed, and I appreciate the explanations you provide. It's clear you were a great teacher before you retired!

[@HappyonMonday]

Thank you so much! I really appreciate comments like this. ☺

[@kathymills1959]

Enjoyed the breakdown and excited to follow along with you and see how it all goes! I'm definitely old enough to retire but not quite ready to jump so I'm learning all I can from several channels what they are doing and how it is working out! Curious if you will share how your first few months in retirement are going compared to expectations? Thanks!

[@HappyonMonday]

Thanks! Yes, I will share how things are going for sure! 😃

[@lisajoyphillips4873]

Congrats on the raise from KZbin in June! Onward and upward. Nothing wrong with being conservative with your finances especially in retirement. 😊

[@HappyonMonday]

Thank you!! 😀

[@leisure057blank3]

I love the monthly portfolio updates ala retire early, and I love the monthly budget ala buzz. I reported on the first one that my401 rollover went up $11,000 since end of May. Then I thought all the times I report these big monthly gains, I should be a multimillionaire, lol. The gains must not be sticking. I must be blocking the down months out of my mind. Agree with your quote.

[@HappyonMonday]

I love their monthly updates too! 😃 Yes, the market goes up and down. If only we could predict it!

[@CharlesAnsman]

@@HappyonMonday Im still being a scaredy cat and am still 95% cash

[@HappyonMonday]

@@CharlesAnsman I'm such a scaredy cat! The only reason I have my aggressive investments was kind of by accident! 😆

[@bunnobear]

I think you are under selling your self as a KZbinr for a modest retirement, I am learning so much from you, you could also target people who have more retirement but do not want to pay exorbitant fees and want to do their retirement themselves ❤ I know you will do great on KZbin, your video ps are very clearly explained. Thank you

[@HappyonMonday]

Thank you - that is so nice of you! ☺

[@patrickoconnor2547]

I take it you have Health insurance to take you to Medicare through your past job. Makes a big difference. Good luck

[@HappyonMonday]

Yes, I will either do ACA or healthshare. Thank you! 🙂

[@myengs6937]

I really like your videos and approach to retirement planning. I am interested in your strategy in how you planned and executed your CD ladder. I understand the CD ladder concept, I just don't know how to mechanically make this happen.

[@HappyonMonday]

Thank you! There are different ways to do it. If you have the money, you can buy several CDs all at once that mature at different times (like a ladder). I have just been buying one (one year) CD each month for the last year. That way they will mature each month during my bridge year. With interest rates over 5% on CDs right now it just seemed like a good way to do it. 🙂

[@transitengineer]

Thank you, for sharing with us this detailed update. Currently, I am waiting until after there has been another major correction in the stock market. This is when, I will change the mix in my retirement portfolio to be 70 percent in stocks and 30 percent in fixed assets. Until then, my asset allocation is just the reverse. Since, I have both a private sector pension and a public sector pension to cover my monthly expenses. Plus after my next birthday, I will also be applying for social security. Therefore, I might not need to touch any of the money in my IRA or 457 plans, until age 75. Because, this is when, I will be required to start making annual mandatory withdraws (smile ... smile).

[@HappyonMonday]

Nice! Sounds like a great plan! 😁

[@sallyprzybil2404]

Congratulations on your increased You Tube funds!

[@HappyonMonday]

Thank you!! ☺

[@OurRetireEarlyJourney]

Great content as always. Contributing to Roth forever is a great strategy... keep funding it over and over.

[@HappyonMonday]

Thank you! Yes, I wish I had started sooner! 🙂

[@JD-tn5tb]

I am chicken about losing money too. I retired in 2022 and moved all my 401k to stable value (no risk but not making much). I'm glad I moved it in that I lost very little money and I see that after almost 3 years, many people still haven't made their money back. But I need to move some of that money to more risk now and just haven't gotten around to it. I'm doing Roth conversions and hate the 5 year rule only because it's so confusing for each conversion, but doing them anyway. It's nice that you have the you tube income to be able to have earned income to put more in a Roth. I hope to find a part time job soon and will use that money to pay taxes on my conversions and hopefully stretch my savings to live off of. I will start using my pension next year and hope to hold off on ss for as long as I can. You have many different accounts to keep track of and manage. You are really organized and smart. I am not familiar with 401a and the deferred compensation, I think you called it but I am learning a lot from your videos and lots to think about! Thanks!

[@HappyonMonday]

Thank you!! It's really scary risking your retirement savings. It sounds like you are on the right path. Good luck! 🙂

[@tonylevine2716]

❤ the transparency but I would include your pension and SS when you take it so that you have a complete picture of your retirement portfolio. Every retirement calculator website I’ve used always asks about extra income sources. Good luck!! 🙏🏾

[@HappyonMonday]

I will for sure! Haven't started either yet. 🙂

[@nncadi1]

love your info, delivery, style, graphics, etc. you really breakdown everything in such a simplistic manner; i listen to financial planners that say the same thing you say, but your presentation is so much more digestible;glad i discovered your channel

[@HappyonMonday]

Thank you so much! ☺

[@nncadi1]

@@HappyonMonday just read through all the comments; please ignore the folks telling you how to talk, do your graphics, presentation, etc.; your financial channel is unique and a breath of fresh air; you do you.

[@HappyonMonday]

@@nncadi1 Thank you so much. This just makes my day! ☺

[@TheCelmap]

She is a teacher and well skilled in teaching, we are luck to have her as a mentor ❤.

[@HappyonMonday]

@@TheCelmap Thank you! ☺

[@monikaw1369]

Congratulations on your KZbin income. Love your videos and explanations. I enjoy your methodical explanations because this is all new to me and if you talk to fast, you will lose me. Easy to follow and understanding……thank you!

[@HappyonMonday]

Thank you! That's nice to hear. Some think I talk to slow. 🤭

[@nncadi1]

@@HappyonMonday they can go to the settings and increase the playback speed:)

[@HappyonMonday]

@@nncadi1 😆 That's true!

[@katz20200]

A fellow educator here! I am semi-retired and enjoying my p-t work while also having a nice amount of free time. You are doing a super job with your channel 😀 Love the quote at the end. Right now I am watching birds and squirrels eating berries from a tree outside my window. Simple pleasures are the best !

[@HappyonMonday]

That is awesome! I LOVE watching animals! ☺

[@raquelcontigo]

Hi, just recently started watching your channel. I just wanted to clarify that the 5 year rule on conversions does not apply after you turn 59 1/2 . This was recently clarified in the Retirement and IRA Show podcast episode 2426 published on June 29, 2024. You may want to give it a listen. There is so much confusion on this topic. Unfortunately, the IRS does not make it easy to understand either.

[@HappyonMonday]

Oh I'll have to listen to that one! On the IRS website it sound like there is a 5 year wait. I'll definitley check that out - thank you!! 😃

[@isaiahjaelin]

I am so excited. Last week I was watching videos of places in Mexico I may have to retire in because I didn't think I could save enough in 12 years. But what you explained sounds doable.

[@HappyonMonday]

I'm so glad! It's not easy, but it is doable!! ☺

[@jjrob2738]

Great channel and good for you for generating additional income streams in retirement. It's also good to see you sticking to the bucket allocations you are comfortable with, rather than following the retirement internet police crowd. Also, as someone who retired in his early 50s a few years ago, I wanted to share that 72(t) SEPP withdrawals are also an option for those wanting to avoid penalties for drawing down their IRA before the age of59.5.....

[@HappyonMonday]

Thank you and awesome! Thanks for sharing! 😃

[@jasonbowman709]

Fantastic job on these videos! You explain this very well and are motivating others to plan effectively. By the way, do you mind sharing what program you use to add the text to the side in your videos?

[@HappyonMonday]

Thank you! I use the free version of Clipchamp that comes with windows 11. 😀

[@bunnobear]

Yes I love your videos, I am. 52 and working on my husband can retire at 58 and have a bridge account until drawing on super at 62

[@HappyonMonday]

Thank you! That sounds like a great plan! 😀

[@FIRE_DrNinjaTurtle]

You can also do a self-directed IRA, which will give you more investment options

[@HappyonMonday]

@FIRE_DrNinjaTurtle Yes, exactly!

[@TrentRapp]

Very impressive work. Boost for the algorithm

[@HappyonMonday]

Thanks! 🙂

[@vjc4502]

I want less of all those things you mention at the end, but I'll need more income to get there. I'm working on that now! Love the information & simple approach you use.

[@HappyonMonday]

Awesome! You'll get there. 😁👍

[@Voorhell]

This is really helpful. I am glad to see content that is focused on how you are actually going to live in retirement, so much of retirement finance content us only about accumulation. I am curious how many years from retirement did you start saving into your bridge accounts?

[@HappyonMonday]

Thank you! I opened my 457 DCP 6 years ago, but I didn't know at the time that I would use it for my bridge account. I started building my CD ladder one year ago. And I opened my HYSA 2 years ago. ☺

[@MarySNRoxanne]

I just saw a news report about a teacher who said they weren't able to retire because of the low pay public employees get asked impact on social security. I had to scream, BS! My parents, aunt and uncle proved that wrong! And so are you! Nice job on your portfolio! It's all about choices and living a simpler life.

[@HappyonMonday]

Thank you!! 😃

[@user-bg9em7ch6k]

In Oregon, I was lucky enough to begin teaching in 1996, when the pension was generous. When my husband started two years later, it was much less generous, and now some of my former students have become teachers, and there has been at least one more reduction in the pension benefit. I’m absolutely not saying it’s impossible now, but it is significantly more difficult. All the more need to be intentional, as Julie is demonstrating 🙏😁🙏

[@kdkragt]

@@user-bg9em7ch6k In MN, pensions have also suffered greatly. It sucks.

[@sallyprzybil2404]

I know the Market did ‘badly’ for awhile there but I kept contributing. When it’s down then switch your perspective from how much cash value you have to how many shares you can accumulate. I think that’s one reason I did pretty good this year. When it was down the shares were ‘on sale’ and I was able to accumulate more shares than I would have normally done. So when the Market went up again the increased number of shares multiplies my cash value gain. It did get discouraging though but I persisted.

[@HappyonMonday]

That's what my son always says!! 😄

[@joemarc62]

@@HappyonMonday Correct, tell your son he was right. That will make his day.😉

[@HappyonMonday]

@@joemarc62 I will tell him! 😁

[@denisedorsey7946]

If I have an extra cash lying around when the market tanks, I buy. People think I'm nuts, but I'm retiring 5 years before they are :)

[@HappyonMonday]

@@denisedorsey7946 That's awesome!

[@Zeldasmojo]

I’m 56 and the way my buckets are set up are a little different. My first bucket will be my savings and I’ll live off that until 62. At 62 my pension will start and I’ll have that as my second bucket as well as my HSA. My Roth, 401k, and brokerage are in bucket 3. My plan is to draw at 59 1/2 out of my 401k to the 12% bracket and do a rollover into my Roth until age 65 when SSA kicks in. I’ll definitely seek a fiduciary out to assist me as I’m not nearly as savvy as you are financially.

[@HappyonMonday]

This sounds like a fantastic plan!! There's no one right way to do it. I may find a fee only fiduciary planner in the future myself. 😁

[@pengmagno7395]

Thanks for sharing your journey! How about healthcare, assuming you’re looking at ACA and qualifying for subsidies, what are your costs like?

[@HappyonMonday]

ACA will cost about $200 a month for me. My income will be much lower! 😁

[@skepticalmechanic]

I hope u realize the 5 year rule for Roth only applies to the money earned and not the principal… you can take the principal at any time..

[@HappyonMonday]

Yes, I do. Thank you! 🙂

[@richardbudzic6289]

How about putting your cash to work with about 5% CD's? Get one 6 month CD every month for 6 months. This way they mature every month and you'll be able to cash it out or if you don't need that cash, to renew it for another 6 month term.

[@HappyonMonday]

That's what I have done with my CD ladder! I have one maturing each month for a year. But the 6 month idea is a good one too! 🙂

[@tsav6952]

Research high quality large cap stocks that pay dividends. It's nice having those dividends rolling in whether the markets are up or down.

[@HappyonMonday]

I keep hearing that! I will definitely look into it - thanks! 😁

[@tsav6952]

I have been getting nice dividend increases this year. Anywhere from 7% to 10% dividend increases.

[@HappyonMonday]

@@tsav6952 Nice! 👍

[@Kimbopolo]

New subscriber here and catching up on your enjoyable videos. Question about why you'll be doing a Roth conversion: will your income increase so much in the future that your tax bracket will change significantly? Thanks for the authentic and informative content!

[@HappyonMonday]

Welcome! I'm going to do some Roth conversions in 2025 because I believe the tax brackets will continue to go up. The money will grow tax free. I will only convert enough to keep myself in the 12% tax bracket. It will also allow me to leave tax-free income for my heirs. So not because I expect my income to go up. ☺

[@Kimbopolo]

@@HappyonMonday Got it. I was just researching this issue and I wasn’t thinking about heirs. Thanks for the clarification!

[@HappyonMonday]

@@Kimbopolo You bet!

[@onlywenilaugh6589]

I think it's likely you will be better off not doing Roth conversions as your amount isn't that high to worry much about RMDs. Usually under 500K I wouldn't consider it. But I'm sure you will think it through and look at the numbers. :)

[@HappyonMonday]

Thanks! Yes I may decide not to do them. I have just been thinking about the interest earned not being taxed in the future when tax brackets will be higher and higher!

[@user-wj1pr1jj4p]

Your allocation seems so conservative that it seems risky for lack of long term growth. You don’t have total stock market index funds available bucket 2? Typically buckets separate money by taxable status and liquidity, not investment type. If you’re uncomfortable with picking total stock market index funds or sector index funds for diversification then maybe consider investing in retirement age adjusted mutual funds but spread your money out to different funds based on when you need the money and suggested asset allocations. I try to assist my relatives, but would recommend looking for a local fee-only advisor for checkups / financial education so there is no familial animosity. :-). Ultimately, you need to educate yourself on the markets because it’s “your money and your life”. It sounds like you’re doing a good job of that and sharing your journey.

[@HappyonMonday]

@@user-wj1pr1jj4p Thanks! Yes, that's why I'm planning the rollovers & conversations! 🙂

[@themonogrammom]

Something I am running into with Roth IRA contributions as a divorcee living primarily on after tax alimony (ex spouse pays taxes on it, I do not) - I am limited to contributing to my Roth IRA. My max amount is my AGI as reported on income taxes. I earn very little so therefore can only contribute very little. I know this varies by state and may not affect everyone.

[@HappyonMonday]

That's too bad. But if you have money in pretax accounts like IRAs or 401ks you could still do Roth conversions. You'd just have to pay tax on what you convert.

[@holeechitgaming7289]

Julie - Do you file your own taxes or have an accountant perform this? Hard form, turbo tax? Your recommendation for peace of mind. Thanks!

[@HappyonMonday]

I have always used Turbotax. But now that I have KZbin income there are self employment taxes that make it complicated. So I may use an accountant this year! 🙂

[@gurrrrlish]

bridge year better to take from pretax 401k - - - low amount insures no tax ... caution of RMDs later... your bridge has no tax benefits like 401k

[@HappyonMonday]

I would have to use the rule of 55 to do that since I am not 59 1/2 yet. I prefer to let those funds grow. I'm using my 457 DCP during my bridge year. It is pretax also. 🙂

[@gurrrrlish]

@@HappyonMonday oh gotcha - makes sense

[@colleenstromatt4041]

Adore you!

[@HappyonMonday]

Thank you! ☺

[@Larry-yb7zl]

You are very versed on the subject so you may already know there is a withdrawal order of ROTH IRA's but I'll post this in case others don't know. Your ROTH contributions are pulled first until depleted. Then conversions. Then earnings. Example, if over the years you have deposited $30,000 that bucket is where the withdrawals come from until it is depleted. Then the first conversion is next in line, followed by the remaining conversions until they are depleted. Then any earnings. So you can trip up and be taxed on conversions by not monitoring the five year rule for them. Keep up the good work! Do something fun, you are reitred! Congrats on the KZbin $$ spike. I generate a little using options on my portfolio. May be something you want to research. Took me a long time to get the courage to dip my toe in but it's been a nice supplemental income stream since I started doing it.

[@HappyonMonday]

Thank you! Yes, I'm trying to build up the courage to try new investing options but it's scary! 😄

[@daveschmarder-1950]

That sounds good, Julie. I'm 74 and my asset allocation is up to 70% in equities, mostly in low cost ETFs. My IRA isn't very large, but I'm doing Roth conversions after my RMD is satisfied. I don't freak out when the market tanks. During those times, I do tax loss harvesting in my taxable accounts and buy similar ETFs with the money. I do no market timing, I just maintain that up to 70/30 portfolio. I can do this as my spend rate is very low from my accounts. My balance is higher than yours, but not by a big amount.

[@HappyonMonday]

Nice strategy! 😁

[@Mightyluna]

@daveschmarder-1950 If I may, what is "tax loss harvesting"?

[@daveschmarder-1950]

@@Mightyluna Tax loss harvesting is only for regular brokerage accounts, not IRA or Roth. If you find that due to the market conditions that an investment you bought is below what you paid, you can sell that investment, and get a tax loss you can subtract from your income tax. With the proceeds of the sale, you can purchase another investment as long as it isn't close to what you just sold. That will keep you invested, but you get to subtract the loss on your taxes. If you don't know how this works, you can hire someone to help. I know the cost basis of every lot of equity that I own. I make sure to always sell specific lots of what I own and track it all. I am not a professional anything, information no guarantee.

[@Mightyluna]

@@daveschmarder-1950 Thank you!

[@HeatherCampbell-kc7fx]

Please skip the music..thanks!!!

[@HappyonMonday]

@@HeatherCampbell-kc7fx thanks for the feedback!

[@whatsup3270]

If your pension is inflation adjusted it is worth $240,000 for a girl (25 years) slightly less for a man.

[@HappyonMonday]

Yay! 😁

[@TrentRapp]

Once you are 59 1/2 and have had your Roth IRA open for five years, the five year rule no longer applies on conversions

[@HappyonMonday]

Yes I figured that out after I made this video. There's so much conflicting info out there. Thanks! 😁

[@TrentRapp]

I figured someone beat me to that comment along time ago, but I didn’t feel like searching for it. I spend way too much money, and you are an inspiration to be wiser with my income

[@HappyonMonday]

@@TrentRapp Thank you! I'm glad I've inspired you! ☺

[@kb1759]

I am a single mom (never worked was a stay at home mom) and i live on a fixed income from my divorce settlement. Research has shown that every 7-8 years the market crashes. What are your thoughts on this?

[@HappyonMonday]

It's very difficult to predict future stock market behavior. I think market crashes happen every so often and it's good to defend against them. That's why I use the bucket strategy! ☺

[@joemarc62]

@@HappyonMonday Corrections are more accurate. A cleansing process, not really a crash.

[@HappyonMonday]

@@joemarc62 That's true. 😁

[@Sky1]

I am way more aggressive but you being single and less to invest and you fear of risk I get that. I disagree with Roth Coversion, you will not be pulling that much out of your 401k that will affect you. Run the numbers you'll see. I am averaving 1k to 2k per day trading stocks making more money than I ever did working. Good luck! Your channel is doing great! 😊

[@HappyonMonday]

Thank you! Yes, my fear of risk is huge! 😳Wow, way to go with the day trading!! 😁

[@randymillhouse791]

5:51: Noted. Pontoon bridge, not a dedicated bridge. 😃

[@HappyonMonday]

Not quite sure what you mean. It just bridges the gap until you can pull from retirement without penalty! 😁

[@randymillhouse791]

@@HappyonMonday A pontoon is placed where and when needed. Think WWII when USA troops advanced on Germany and the German Army blew up bridges slowing access of U.S. troops. The engineers brought along and built pontoon bridges. Something that was part of the invasion force that could be . General Patton was famously photographed on a pontoon bridge over the German Rhine River. Look that up. It is a very funny story and a testament as to why the troops LOVED that guy.

[@HappyonMonday]

@@randymillhouse791 That's awesome! I'll look it up! 😃

[@CJ-Photo]

If you roll your 401k and 403b into a traditional IRA, you don't need to wait 5 years to withdraw, correct?

[@HappyonMonday]

@@CJ-Photo Correct! That's just on a Roth conversation. 😊

[@BudgetingwithTracey]

Do you have an emergency fund? Is it included in any of these buckets?

[@HappyonMonday]

My emergency fund is included in my bucket #1 right now. Ideally I would have a larger emergency fund. But I have to work with what I've got! 😁

[@ontravelmode]

Like your content however wanna give a little feedback. Try to speak more naturally because you speak as if you are still teaching children. Less reading from script and more u. Thx

[@HappyonMonday]

@@ontravelmode thanks I'm working on it! 😄

[@ontravelmode]

@@HappyonMonday you will do great 👍 👌

[@buyerclub2]

Hi again. First I wanted to comment a little on Roth Conversion for you. Then perhaps cover target date funds. When you are considering Roth conversions. You need to look at a couple of things. First what is the tax bracket you would be in without the conversion, and how much more income you would be taxed at to hit the cap of that bracket. Second you need to make sure, in your NOT IRA accounts you have the cash to pay for the taxes that you incur from the conversion. For example, I suspect you in 2024 will be in the 12% tax bracket after your deductions. And the next bracket is 22%. Lets say your AGI is around $30,000. That means you could do a conversion of around $17,000 and still be at that tax rate. Any more than that, and the conversion would create taxes at the higher 22% rate. So if your made that $17,000 conversion you would have to pay taxes of 12% of the $17,000, or $2,040. This would be paid from your non IRA section of your portfolio. So you would want to make sure that was available. Now why do you do a ROTH conversion. It is to avoid having to pay taxes at a higher tax rate when you are required to make a withdrawal from a standard IRA because of your age and MRDs. Second, once your funds are in the Roth, they grow tax free. But it maybe in your situation that Roth conversions are not right for you. It depends on how much you have in the ordinary IRA/403b/401K. And how much the MRDs will be for you. ( I think for you they will begin when you are 75. And while they increase every year the MRD amount initially is just 4%) Now my comments on target date funds. IMHO these are usually not smart. They don't take several things into account. Most notably what interest rates are at that moment as you are getting older. Let me elaborate with an example of a few years ago when interest rates were very low. And the most likely direction they would go is UP. And you know what happens when interest rates go up? NAV values go DOWN. So your target date fund would be putting more of your portfolio into a fund that was gong to lose money as the rates went up. Another issue with them is that they tend to be comprised of other mutual funds. So you pay fees for the target date fund. And then you pay fees of the funds they invest in. I am not totally against fixed income mutual funds. I just believe you need to be smart in when you invest in them Today, when the Fed is at least considering dropping rates, it might make sense to migrate some of your portfolio from equities into fixed income. But with the current returns on equities, I would tend to go slow.. I could go on. Let me know with a comment and I will Later. Hope this is helpful, and I hope you are enjoying this major life transition.

[@HappyonMonday]

Thank you for your helpful advice! I'm sure it will help others who read it too! I am aware and plan to be very careful with Roth conversions and tax brackets! 🙂 I agree that my target dates funds are not a good choice. That's why I will roll them into something else soon. I'm interested in equities I'm just not super familiar with them. 😁

[@whatsup3270]

@@HappyonMonday Generally the best Equity fund is SPX which is offered by about everybody. It is not a stock it is the S&P 500 which is to say the 500 largest companies in America (all combined). A general rule is use 1/2 your money for equities, 70% is consider aggressive for a retiree, 50% normal to common. The rest is usually split between cash (money market 1-3 years of your needs) and Bonds ( the difference once the equities and cash goals are set). Each person should shift their numbers based on their condition for example your pension would raise your equities and lower your cash (because the pension is cash). The pension raises your equity position because the pension is zero risk thus you can afford more equity risk.

[@whatsup3270]

@@HappyonMonday Another huge current factor for you is who is paying what for account maintenance. Many of us hold on to employer based plans because the employer usually has a great deal on employee maintenance fees thus it is cheaper to stay. An in person hand holding financial advisor is very expensive often 5 times higher than leaving the account with the past employer.

[@HappyonMonday]

@@whatsup3270 Thanks for the info! 😃

[@HappyonMonday]

@@whatsup3270 Agreed about a hand holding financial advisor! 😄

[@StreetsAhead120]

Hey Julie, you should do a collab with Duane from RetireEarly500K

[@HappyonMonday]

That would be cool! I love his channel. 😁

[@blackfiree91]

Buy bitcoin. It goes up hundreds of % every 4 years in a cycle.

[@HappyonMonday]

Thanks for the idea! Bitcoin makes me a little nervous though... 😁

[@blackfiree91]

@@HappyonMonday because everyone tells you its too volatile to be an investment. Don’t be a sheep.

[@HappyonMonday]

@@blackfiree91 I'll have to look into it more!

[@blackfiree91]

@@HappyonMonday any podcast with Michael Saylor discussing Bitcoin is a good starting point.

[@KA-NV]

⁠​​⁠@HappyonMonday have you tried selling options on your investment/brokerage accounts to generate income on the stocks you owned? It is a good way to generate extra income.

[@HappyonMonday]

I have not tried that yet! I'm starting to look into things like that. ☺

[@joemarc62]

@@HappyonMonday Just my opinion, but keep your finances as uncomplicated as possible.

[@HappyonMonday]

@@joemarc62 That's good advice. ☺

[@GhulamAbbas-r9g]

Hey ! Love to see your unique content . If your average retention is below 50%, investing in high-quality editing can keep viewers hooked and boost your growth. I promise your channel growth with high quality editing and strategies or all refund . Let me know what you think . You should reply with your email .

[@HappyonMonday]

My retention is well over 50%. Thanks and good luck to you!

[@ibenglish]

@@HappyonMonday love the way you present the videos and the graphics are perfect as is the pace of your speech so thank you Julie

[@HappyonMonday]

@@ibenglish Thank you! ☺