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Thank you for including singles in your examples.

Perfect topic. I'm 3 years in retirement @57, did a good job in the accumulation phase with net worth of $3M+. The problem is I haven't spent any of it despite knowing I have no concerns of running out of money. Some minimalist traits that helped me save are not easily cast aside. I sense I'll be dead and gone with plenty of money left behind, but that was never a goal.

Do you know of a retirement planning software for regular people rather than financial planners like income lab that uses the financial guard rails and dynamic spending approach that I first learned about from your channel rather than monte carlo simulations. I can only find software for regular people that do monte carlo simulations.

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

Good video! What is the software you use to run these analysis?

I don't like the way my kids spend money, so no

4:50 are you saying that any money from long term capital doesn’t go towards your taxable income? So if in retirment there is 45k from social security and say 35k from rental property, and I can take 94k out of investment accounts (non Retirement) and it won’t be taxed at all? It doesn’t put my taxable income up to 139k?

House in So Cal... Ooops 🥵

Excellent point and examples, I am impressed. Subscribing

Geo Arbitrage. Smarter not Harder, and retire early 😊

I look poor because I am poor. How about that?

Why are IRA distributions ordinary income? They are absolutely long term investments.

All this is B.S. They say you will save gobs of money. Try $36.00. I dont consider that gobs of money. Thats like tipping your waiter/waitress a penny. The more you saved the more they will tax you!!!!

What a coincidence that i also own an HVAC company at 57 looking at a 5 year window of getting out and retiring. Great video.

If you are living well and having a good time, why try to spend more? If you have more money than you can ever spend, well, you won't spend it. I have been retired for ten years, and I'm spending twice as much as I spent when I worked, and still have tons of money left over. I just buy whatever I need, and spend whatever I feel like spending.

Nothing about tax bracket creep due to inflated income due to trying to keep up with inflation.

My experience is just totally different. I'm 80, ten years retired and living like I never imagined. 4 new cars, including a Mercedes, repeated travels all over the world, best hotels, best restaurants. And I was only a university professor. How did I do it? Living poorly (not exactly) and retiring rich. All the same I am myself amazed. One small secret, I relocated to Asia and live comfortably in Bangkok.

This is too confusing...

A question i have after loosing my wife and state helping with med bills then they took most of a settlement she had and left me with barely anything l. I contacted the state of crooked Illinois and they said sorry nothing can be returned so basically they don't care unless its theres

✅ You can distance yourself from friends who may take advantage of you. ✅ Family and friends are less likely to ask for money, assuming you're financially struggling. ✅ You gain a sense of calm and peace.

Why no mention for VA Disability payments and SSI??? Do we have to pay taxes these???

You need to slow down. You talk way too fast.

"captial gains" - do you need a new editor?

It also pays to check into where you live. Property taxes are ridiculous in some states like New Jersey. It can take 25% of your income without insurance or any mortgage figured in. So you’re putting out big money just to live there even if your house is paid for. This is without figuring in car insurance then utilities and food. Have fun.

What you should be teaching is that Taxation is illegal and not included in our Constitution. Although for now we have to pay it but if we all band together as We The People we can stop it.

Hi great video but most people just have a 401K or IRA (not a brokerage) can u do a video where 2 people are getting SS and they have a 401K of 500,000 as an example or maybe one with SS and a 1 million 401K

Pfft. Any American who files income taxes with the illegally established IRS after what biden has done with our money is an absolute fool and seeing more saying - nope - no more. Even Erin Collins, IRS Tax advocate was all over Twitter the past couple days admitting FILING taxes with the IRS, is VOLUNTARY. Nothing but thieves. How is it people still don't know this? I know many who have not filed for years, never hearing a peep, because the US is currently and illegally under contract law, when the constitution was created under Common law. If one does not file, one does not enter into an illegal contract. Explain why the IRS and Federal Reserve buildings in DC have been empty since 2020. Explain why all but one building (engraving) of the US Treasury moved to Reno years ago. We are about to have a historic financial reset in the very near future. Going gold backed.

Anyone earning less than 60,000 per year should pay tax for being a burden on the rest of society. Exception for anyone who receives zero public funds.

Medicare is the best bang for the buck whether you pay irrma or not. Seriously original Medicare and a medigap plan is the best insurance in the United States you can get. Besides the freeloading congress who get the best free taxpayers funded healthcare for life if they get two, two year terms. Some congress people don’t even have a high school education and make huge economic and life decisions for us. Why do Americans vote for stupid uneducated people to rule over them.

We retired in 2018. We did spend a bit on finishing our basement but we did it to support our many hobbies without worrying about putting it away. We are soon to spend on a greenhouse. I love growing my own veggies and sharing them with family and friends. The greenhouse will let me grow even in winter. Our financial advisor doesn't understand why we prefer doing these things instead of travel. Well, we have no prescriptions, no health problems and we are much happier then those other retirees who travel, travel, travel, talk about it for a few weeks, show some pictures, then they need to take another trip.

I only have SS $ so hmmm..

This is great information. Well thought out.

I cannot wait until DOGE eliminates taxes on Retirement.

I would love a chart. I am trying to decide whether to sell our home to downsize. 6K sq feet! Nobody needs this space, ever. I am trying to teach my kids to not be "house poor" . all the maintenance, HOA fees, AC bills........ I have plenty to retire on, but I dont need to live like this anymore. I need help convincing my hubby!!!!

I'm retired and I once told a person that I had all the money I want and need. The reply was "You must not want much", forgetting all about the "need" part. I don't consider myself frugal but I don't spend money frivolously, either. If you keep things simple, life is a lot easier. Clothing is one example. I only spend money on clothes to replace that which has worn out. Vehicles? I drive a vehicle until it simply wears out, also, before buying a new one. I'm not rich, but I'm certainly not poor by any metric, either.

I'm on the cusp of retirement. Part of me wants to renovate my house because I'm going to be spending more time in it.

im 66, social security income is $4,800 FOR ENTIRE YEAR! its actually less. I JUST INHERITED AN IRA FROM MY FATHER! 1180 SHARES OF STOCK WORTH JUST AROUND $100,000. i want to make a big draw to buy a small home, and offset the taxes by installing solar to get 30% tax credit. maybe you can answer a question. since the wealth management company that holds the ira is 3 whole states away from where i live. (ira account is in arkansas and i live in south dakota) is my lawyer in arkansas legally able to open the account for me to have the stock and cash transfered to my account? ive been disabled for over 20 years, was on SSI until i inherited from my mom. later because of marriage my family income was too high to get any money. when i filed for social security and got divorced i was given SSI as elderly low income. BUT IM STILL DISABLED DAMMIT!

Great video and information!!

Good luck to me! 😂

confused more than ever, this was really bad,

Question about the income threshold for long term capital gains tax rate. Once you hit that threshold, are all LTG taxed at the higher rate? Or is it marginal like with ordinary income?

People forget IRMAA. The brackets are barely altered every year.

The stuff you own ends up owning you.....

Inflation is 40%!!!! Inflation is a tax too... so there is no saving money. They are getting it out of our cash.

After reading some of the comments, they compare countries with billions of dollars worth of mineral monies but have total population the size of Minnesota. It is great that the governments of those countries share the wealth with its citizens. In the US we spend more than we take in and will do so if we continue to put politicians in place that are more intent in filling their own pockets than that of the people who put them there.

Anything over 10% is wrong, over 15% in time of war or other extraordinary circumstance. $48k threshold to jump to 22% is robbery.

Just to be clear. The tax bracket is applied after the standard deduction. So if I made 30, I would have 15 after the deduction and that 15 would be taxed at 12 percent

Great information. I’m happily retired for 7 years, I’m 76 , many of the people I know that are also retired or getting there are smack in the middle of the hedonism rat race. It’s funny, because they buy new cars to worry about not looking poor or having supposedly secured transportation. I have 3 good old cars 2 Toyota one Honda over 20 years old that if one breaks I take the other, and the 3 combined don’t cost me a fraction of a new one. Plus if someone scratches the car in a parking lot I don’t give a hoot. They all have good AC and can take a plus 100 mile trip with no worry. Insurance wise I have a package, cheap because it’s not about the car , it’s about third party responsibility. I once bumped into a BMW in my old Rav in reverse, no damage, but I got out with my insurance card in hand , but the young man of the BM was very worried about me , I was in my farmer working clothes, baggy and such- the guy was frightened I was hurt ( I do heavy work and keep in shape) I had to calm him down 😂 Epictetus thought that impressions are what drives our opinions. Don’t worry about opinions, be happy.

Let’s just wait and see what Trump and Elon does….the uniparties needed YOUR money for wars and to funnel tax money back into their pockets through unlimited political donations. Trump wants to give the money back to the people, which he already did during his last term. This is why the uniprties cheated and stole the last election, he protected the American people from the thieves. That’s the new thing happening after January 20th.

12-5=7 not 6 as you said in your presentation.