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Buy bitcoin.

A downside of this for withdrawals before 59.5 (or 65) is that they count toward your Modified Adjusted Gross Income (MAGI) for determining ACA (Affordable Care Act) credits ... meaning you pay a lot more in health care. Perhaps a combination of ROTH IRAs and Taxable Brokerage Accounts where you can take out *contributions* from your ROTH IRA pre 59.5.

Given they are already 65, why wait to take social security? They get 86.7% of their full benefit, leaving about $1700 per month of a shortfall based on their goals and what you stated as their payments. That is roughly 4% of a $500k portfolio on an annual basis. That should be very achievable with a conservative mix of stocks and bonds and other cash instruments right now. The social security payment is adjusted for inflation every year, which takes a lot of the pressure off the rest of the portfolio and dramatically reduces sequence of return risk. Even if this isn't their choice i feel like modeling that scenario would be helpful in this video.

they can retire but not with that spending

Way to explain THE SAME SHIT EVERYONE SAYS

Make that change... Annie, are you ok?

Sucks for me, I'm %100 disability (veteran).. I was forced to retire in my 20's and was unable to work... Now in my 40's I have maybe $100 for saving per month and I try to invest, but something always comes up... with having older cars I'm always repairing the damn things, 4 kids (teens) cost a crap ton too... but I take what I do get and I invest in high risk High reward stuff (crypto) and I still put some cash aside for emergencies, and I'll buy a little silver from time to time.... at this rate I won't be able to retire until I'm 100😂

Very nice video. Thanks!

I spent my 30ies spending my time caring for my dying grandparents. Meant I sacrificed finishing school and making full time income. Now at 38, im single, childless and not 100% independent. I cant help but feel like my options have dried up. I try to stay optimistic but reality often sets in. I'm adult enough to admit I need help that's not a WhatsApp or CashApp scam 😑

10% return lmao

I just had this switch! After realising if I retire at 67, I would be living off $836 a week( less than half what I make know) I simply freak out and Started studying money and Investing. As a result this video came towards me.

Good video, but an ad every minute and a half is ridiculous.

Well at least your head is "Shaved"

Learn to trade. You’ll never be broke if you don’t get greedy.

The monthly salary is under 1000 dollars Now tell me how you can make money with such a low income All they are gurus when they get 4000 or 5000 pfff

Average 10%? Where the F are you getting that?! Lol

Excellent video

Im 35 and just started saving last year. i think im doing fine and im already thinking of where to invest some of it.

Also, why listen to this when you can just watch any Dave Ramsey podcast which ALL of this came from.

You all want to make a billion dollars? Show someone who makes 4k a month with 2 kids whose living expenses are 5k a month how to get out of the hole they’re in. Assume no more available time to work extra. Assume already dealing with 1-2 setbacks. Assume no available help for childcare. Assume they don’t spend money on needless things. This is the person you’re actually making this stupid video for. Not someone who can just save their way to retirement.

Helpful, practical and realistic advice. Cant thank you enough

It's hard to save when you have a special needs child and have to go on Medicaid. On Medicaid you can't save anything. If you get any money over a certain amount they tell you to spend it down or you will lose your health insurance they are providing. So during these year your child is growing up you cannot save very much. Then life gets in the way.

After seeing the video I made my mind, I will go back to my fathers basement

Watching in my 40s and still wondering how society got so money orientated and greedy. We're constantly told we need money for everything and then scammed and taxed out of it all.

The "tax free" withdrawals you're describing from a taxable brokerage are after you have already paid taxes on the money you put in. It's strictly worse than a Roth IRA, except you can invest however much you want.

Nonsense, depends on what you invest. Some crypto or stock just give 1 million in a year. INVEST ON KNOWLEDGE.

Fear is what keeps me working - and moving from a saving brain to a spending brain (how do I do that after 35+ years?)

I didn't get jobs that paid me well enough to not be on survival mode till I got close to my 40s. So I mean if you get ab6 fig hob at 18, starting early would work.

Im 41 nothing saved. The only thing going for me is I am mortgage free. My job pays poor now I need a reset. Im looking to retire at 60. Maybe part time at 60-63 if I get bored.

Thank you for your teaching. 👍🏻👍🏻 (subscribe, like, shared)

You mention the key thing that most planners avoid like the plague...living on a budget. Only people who live on a budget have control over their money, and only people who have control over their money can make informed decisions about retiring. Once you have a budget, such that you're controlling what your money does, the next step is eliminating debt, especially "bad" debt. The third step is investing in assets that appreciate in value, while avoiding going back into debt. People who do these three things understand their financial situation and are highly likely to enjoy a dignified retirement.

How to invest that 15 percent ? Because lot of people like me, zero knowledge on invest.

I think the US will go bankrupt. My wife and I have 80 years combined work history and paid into the system all our working lives. We EXPECT to get something out of it, but it appears that immigrants who never paid into the system will get first priortiy.

You need 2 million. The feds will rob you of half.

I sure would like a video showing real examples, well laid out in Excel, showing monthly income sources, and then how the taxes on each one and the whole are calculated. Otherwise, for me, it's a lot of words.

I have savings and still struggling. House prices are insane

You lot do realise, you will own nothing and be happy. Verry soon

40 years old and nothing in investments. You have missed the miracle of compound interest. Learn how to exist on Social Security and Raman noodles.

Who says you get 65?

Why have you directly copied Jaspreet Singh from Minority Mindset? It’s literally word for word! Can’t you create your own content? 😂

My adviser said 25 times of annual spending expenses

I'll be getting my VA disability 4k a month plus a police pension of 3.6k a month I'm currently 58. Plan on retiring at 60. Also will be putting in for my SSDI at 60 as well. If that don't come trough before 62 I'll be drawing SS then 2.4k a month. Paying off all debt before retiring except house and two cars. At 62 I should be bringing in 10k a month and enjoying what time I have left on this earth.

No, you need about 3 million.

“Down to the banana republics Down to the tropical sun Go the newly retired Americans Hoping this one is the one Spending their Social Security on a bottle of rum and a line So can I rent a one bedroom Or Buy some tequila and a lime…”

My situation is unique to me. I haven't had debt since I was in my late 40s. That doesn't mean my expenses are lower. It just means I am paying cash which means I am pulling from savings to replace a vehicle or repair my house. For me it is better to look at my 5 year average spending to determine what I need in retirement.

I’m 62. I get $78K per year from my pension and SS. I have a small 401K. I have no debt, except for my $1,600 monthly mortgage. I live in Texas where the cost of living is slightly below average. I’m doing ok. If I get a part time job, I’ll be over $100K per year.

21.3% of Americans are happily and comfortably retired and only 3.2% have $1M+ The real retirement goal is to have very little, or better yet NO, debt going into retirement.

I watch alot of retirement videos. I want to know the maximum amount of money I can spend a year. I will then back into my living arrangements and retirement costs. All these variables is mind numbing. A good financial planner just needs to show people how much is the maximum we can spend. Just my opinion.

This is just more misinformation! Can you spell, "important"? Remember, it has two t's!

Correct, you need at least $3M