I am 53 with 200,000 in savings and i have never invested in the stock market. Now, I want to invest safely for growth in the next 3-4 years to buy a home. What's the best strategy?
I believe a healthy portfolio has 3 things, at the bare minimum: Exposure to ETFs for increased diversification, Exposure to assets that generate cash flow like dividend stocks, Exposure to market-leading tech.
You don't need to find the next NVDA to succeed in investing. Just choose top-notch ETFs and partner with a financial advisor like I did. I turned $100k into $53,000 in annual dividends-a significant milestone for me today.
🤷🏻♂️🤷🏻♂️ Not to be arrogant: These guys are all the same. Fiat currency (money these days) is always the main stay when it come to retirement. I’ve thrown this belief out the window. Why? My 63 year old neighbor died behind the wheel of his car on his driveway. Here today gone tomorrow. TIME is the true MONEY!!!!! Retire as soon as you can, even if you think you can’t afford it, just cut back on your living standard. Downsize your life. Live small and enjoy the years you have left. Today all these investment firms claim you need a Million Dollars to secure your retirement. Of course, this way they can earn their income off of your’s. When was the last time you watched a Sunrise? To me it’s worth a lot more than looking at the digits in my portfolio. Hope this advice helps a few of you who are stuck on the hamster wheel. 🏠☀️👨🌾🕯🐝🐇🐓🐄
While in college, I lost a friend's younger sister to cancer and a classmate's younger brother to a firearm accident at home. I also lost two high school classmates (that I know of), one right after graduation (accident on a personal grad trip) and another to suicide 5 or so years after graduation. I've lost coworkers, a parent and a younger sibling before they turned 45 to natural causes, and a coworker
Even when you retire you are still living in a society (USA) that is totally focused on riches and materialism. Everyone is trying to get as rich as possible at the expense of everyone else. It creates a low quality of life for everybody including retirees who are trying to live a peaceful retirement.
I mean, you do need some amount of fiat in order to be able to comfortably saunter out to check out that full sunrise. You are correct in principle though. Your time is what matters. As I'm looking out over a foggy view. Still marvelous, though. And yet something has to pay those utility, insurance, and tax bills, get those groceries, put gas in the car, bike, mower....
I retired at age 53, so I am in my early 60s. Many of them resisted me because they couldn't understand the idea of not working if it wasn't necessary. I considered the phases of my life. I worked very hard to achieve what I have now, but in my last years, I owe it to myself to "stop and smell the roses." In my instance, I departed the nation after retiring and currently reside in Latin America. It made it possible for me to appreciate my new surroundings while escaping all the bad things that were going on in America. Nobody that I know of regrets retiring has yet to come to me.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than a million dollars by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
i definitely share your sentiment about these firms. Finding financial advisors like Kathie Daisy Bosco 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.
Despite common myth, most people did NOT have pensions even during the heyday of pensions. The notion that "everyone" had a pension is completely apocryphal. The 401k, particularly with a company match, is an excellent retirement savings vehicle, but it should be supplemented with a personal IRA and other savings/investments as well.
I retired this year at 61. My pension and SS combine to give me an annual income of $78,350. I also have a 401K and I zero debt. I think I’ll be ok. If not, I’ll get a part time job. The company where I worked adopted Six Sigma for its white collar office workers and everyone left, including me.
If you have zero debt and an income of $78K, there should be no reason to work unless you really want to. You will be just fine also cause you still have a 401K and SS too
Thank you for this excellent content. Planning to retire three years sooner than anticipated is critical to know in one's 40s. I'm 58. My company sold, and I lost my Executive Director job. One year later, I still can't find a job. Ageism is real and thriving. You're the first financial advisor to address this that I've heard.
A person who is shackled by marriage to a spouse who has no vision or a myopic vision of perpetual financial ignorance and unexamined sameness of robotic “surviving” cannot fruitfully develop his own vision of retirement.
New subscriber. Great info! Retired vet so blessed to have pension, VA disability, and healthcare at the VA. I also take care of my body by eating right and working out. Retired as a govt contractor last Oct just shy of 56. Best decision ever! The Rule of 55 applies but I have bridge accounts to take me to 59.5 but will try not to tap into my retirement accounts even after that if I can avoid it. Plan to take Social Security at 62. God is good! 🙏🏾
I am a 54 year old nurse. My husband and I want to retire at 60. I have a mild physical disability ( cerebral palsy) obviously never impeded my career. I investigated LTC insurance. All 7 carriers have DENIED ME because of my disability. I have no option for long-term care insurance and worry about putting us in the poor house if I need care in the future. 😢
Good video but I have to disagree with you on the 401k. You can definitely build retirement wealth using the 401k and a Roth account. You have to be very diligent to accomplish this...which most people are not.
Observing my life at an older age,I realized to be able to retire,you have to have a lot saved,be rich,or make sure you don’t have debt…I went the no debt route..have a modest amount in 401 k account,and payed off house and car… living only on my SS income.
I call BS on the 401k opinion. Without that option to save for my own retirement, I would have to rely on social security which is a joke. As a self employed individual, I have been able deduct my contributions during my high income years to save on taxes. I currently have over $3,000,000 in the account after 15 years. I expect that when I retire in 3 years at age 65, it will be close to $4,000,000. My total investment is about $400,000. Not a bad return! My income and tax rate will be much lower when I retire, so the taxes I pay on the 401k withdrawals will be less than if I were still working. That is how it is supposed to work and why it is a great option. Any time I listened to a financial advisor, I lost money. I finally did my homework and invested on my own and it paid off very well. It seems these days the only pensions that are available are through government jobs. Those pension plans are unsustainable. Thank God My 401k will allow for a very comfortable retirement.
I was fortunate enough to work multiple careers that had pensions which translates to about $150,000 in constant dependable deposits. These pensions also are tyed to COLA. I am able to use my 401k to just pay the taxes on my deposits. I can be in low risk investments and still increase the 401k value. Long term, pulling more out of my 401k as i age as tax deductions and brackets increase.
Great content. I have watched dozens of these types of videos from other content creators and have learned a ton, but this was a fresh take with a few new concepts, and I appreciated the format which was succinct and clear.
Have 5 years of money for the first 5 years of retirement. If I understand that correctly, I would need 5 years of house budget in cash. For me that would be 250K in cash and today I have 30K. It would take years to bring that cash portion up to 250K. I don't have 250K in cash because everything beyond 30K is working to build the future. At 60, I could be looking at 30 years in retirement, so it must keep working for me going forward.
Start here and please understand i know nothing about you 😜. If you need the money in 2 years, for example, lock that money up in a 4 or 5% CD so that you are not taking risk with that money. What you don't want is to need money and have to sell at a loss bc the market isn't cooperating. Thanks for watching!
@@theretirementguyYT Thank you for answering. As I understand it, there would be no reason for money in under 2 years. Also, given the hold time of the portfolio, which is now 35 years, nothing would be sold at an actual loss. Even in 2008 scenario(a 50% downturn), nothing would be sold at a loss. It is one benefit and the one problem with a very long term plan. Everything sold form the 401K will have a 100% taxable withdrawal, or a 75% taxable withdrawal on the brokerage account sale. But I understand the issue regarding a 5 year liquidity plan. As for now, I am wrestling with the concept of having my former company pension turned into an immediate annuity. I have grown it out to the point where it can replace 100% of my current household budget and leave my 401K in place to grow for another 7 years until full retirement age or until forced withdrawals are required in just over 10 years. These are the problems that every American should have.
Suggestion (constructional criticism/a gift): background too distracting. If you like to look at them in your own videos, do so privately, unless your goal is to distract audience as much as you can from what you are trying to say. 🤓
Pensions are backloaded where the longer the employee works for a single the higher the company contribution, which is not the norm today. It is better to have a 401 plan with a good company match that is a better option than a pension plan. Most corporate pensions don't have COLAs.
I don't have a pension. I do however have $500000 in a 403B. Does it make sense to annuitize half of this to guarantee a monthly income and invest the rest in S&P funds and bonds ?
I can't answer definitively without the particulars but I believe very strongly in guaranteed income to cover needs and most wants. If you want some help deciphering. the good from the bad, shoot me an email. And ... thanks for watching!
I locked in the long term care insurance policy when I was 58 and still in good health. If I had waited even two years, my policy would have been much more expensive as I have developed health issues. I am single and I do not want to be a burden to my children if I should need care. The peace of mind the care will be taken care of is priceless.
Great video. Late 50's and the price of long term care scares me. Retiring from my job with a full pension. Will start a new job in less than a year. 28 years in Corrections is long enough. Did not take investing serious until the last 2 years but had money saved and the house will be paid for in 2 years. Question is what are some reperable long term care insurances? My dad was a disabled vet. I don't have that option. I plan to work another 11 years and start collecting Social Security at 67 but work until 69. 2 years of Full Social Security, Pension and Full time employment.
Im 54 and still working until our oldest graduates Highschool. I have a military pension that more than covers my expenses along with Tricare insurance, which is good but relatively inexpensive. Planning to use my Roth and 401k as basically large emergency funds as needed and to withdraw only in the “up” years and even then less than whatever the funds did in returns for that year (if the fund earns 8%, only take maybe 6%). Planning to delay SS until FRA as well because I really shouldn’t need it.
I stayed in a hostel a few blocks away from Wrigley Field, it was cheap, not too far away from a White Castle Hamburger joint and I loved it, great experience
Economists don't agree on much but universally agree that creating a stable income floor to cover your needs in retirement is a good idea. If you need help with that, let me know. I have some very strong opinions on what you should never do in this area. Thanks for watching!
I am 53 with 200,000 in savings and i have never invested in the stock market. Now, I want to invest safely for growth in the next 3-4 years to buy a home. What's the best strategy?
I believe a healthy portfolio has 3 things, at the bare minimum: Exposure to ETFs for increased diversification, Exposure to assets that generate cash flow like dividend stocks, Exposure to market-leading tech.
You don't need to find the next NVDA to succeed in investing. Just choose top-notch ETFs and partner with a financial advisor like I did. I turned $100k into $53,000 in annual dividends-a significant milestone for me today.
Do you mind sharing info on the advisor who assisted you?
Melissa Elise Robinson is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
🤷🏻♂️🤷🏻♂️ Not to be arrogant: These guys are all the same. Fiat currency (money these days) is always the main stay when it come to retirement. I’ve thrown this belief out the window. Why? My 63 year old neighbor died behind the wheel of his car on his driveway. Here today gone tomorrow.
TIME is the true MONEY!!!!!
Retire as soon as you can, even if you think you can’t afford it, just cut back on your living standard. Downsize your life. Live small and enjoy the years you have left.
Today all these investment firms claim you need a Million Dollars to secure your retirement. Of course, this way they can earn their income off of your’s.
When was the last time you watched a Sunrise? To me it’s worth a lot more than looking at the digits in my portfolio.
Hope this advice helps a few of you who are stuck on the hamster wheel.
🏠☀️👨🌾🕯🐝🐇🐓🐄
Interesting! Thx for watching.
While in college, I lost a friend's younger sister to cancer and a classmate's younger brother to a firearm accident at home. I also lost two high school classmates (that I know of), one right after graduation (accident on a personal grad trip) and another to suicide 5 or so years after graduation. I've lost coworkers, a parent and a younger sibling before they turned 45 to natural causes, and a coworker
As the saying goes… we are all born to die and growing old is a privilege that is denied to many.
Even when you retire you are still living in a society (USA) that is totally focused on riches and materialism. Everyone is trying to get as rich as possible at the expense of everyone else. It creates a low quality of life for everybody including retirees who are trying to live a peaceful retirement.
I mean, you do need some amount of fiat in order to be able to comfortably saunter out to check out that full sunrise. You are correct in principle though. Your time is what matters. As I'm looking out over a foggy view. Still marvelous, though. And yet something has to pay those utility, insurance, and tax bills, get those groceries, put gas in the car, bike, mower....
Life is short, none of this will matter soon enough.
For sure and thanks for watching!
You could always make more money but could cannot make more Time.
YEP! Thanks for watching!
I retired at age 53, so I am in my early 60s. Many of them resisted me because they couldn't understand the idea of not working if it wasn't necessary. I considered the phases of my life. I worked very hard to achieve what I have now, but in my last years, I owe it to myself to "stop and smell the roses." In my instance, I departed the nation after retiring and currently reside in Latin America. It made it possible for me to appreciate my new surroundings while escaping all the bad things that were going on in America. Nobody that I know of regrets retiring has yet to come to me.
Bien por usted! Gracias por mirar!
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than a million dollars by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
i definitely share your sentiment about these firms. Finding financial advisors like Kathie Daisy Bosco 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.
Despite common myth, most people did NOT have pensions even during the heyday of pensions. The notion that "everyone" had a pension is completely apocryphal. The 401k, particularly with a company match, is an excellent retirement savings vehicle, but it should be supplemented with a personal IRA and other savings/investments as well.
Not everyone, but certainly more than now. Thanks for the feedback and for watching!
I retired this year at 61. My pension and SS combine to give me an annual income of $78,350. I also have a 401K and I zero debt. I think I’ll be ok. If not, I’ll get a part time job. The company where I worked adopted Six Sigma for its white collar office workers and everyone left, including me.
If you have zero debt and an income of $78K, there should be no reason to work unless you really want to. You will be just fine also cause you still have a 401K and SS too
Good stuff. Thanks for watching!
You will be fine, unless inflation kick in again. Inflation could reduce that income by 50% in a short ten years
@@searchersearcher8286 😂😂😂😂😂
@@searchersearcher8286very polite way to state a concern.
Thank you for this excellent content. Planning to retire three years sooner than anticipated is critical to know in one's 40s. I'm 58. My company sold, and I lost my Executive Director job. One year later, I still can't find a job. Ageism is real and thriving. You're the first financial advisor to address this that I've heard.
I’m sorry to hear about the job 😢
@@theretirementguyYT Thank you!
Nobody knows how much time you have! Plan to retire in 3 years. Will be 59.
Good point. Thanks for watching!
A person who is shackled by marriage to a spouse who has no vision or a myopic vision of perpetual financial ignorance and unexamined sameness of robotic “surviving” cannot fruitfully develop his own vision of retirement.
Good point. Thanks for watching!
Communication
New subscriber. Great info! Retired vet so blessed to have pension, VA disability, and healthcare at the VA. I also take care of my body by eating right and working out.
Retired as a govt contractor last Oct just shy of 56. Best decision ever! The Rule of 55 applies but I have bridge accounts to take me to 59.5 but will try not to tap into my retirement accounts even after that if I can avoid it. Plan to take Social Security at 62. God is good! 🙏🏾
Thanks for watching and for your service !!
I am a 54 year old nurse. My husband and I want to retire at 60. I have a mild physical disability ( cerebral palsy) obviously never impeded my career.
I investigated LTC insurance. All 7 carriers have DENIED ME because of my disability.
I have no option for long-term care insurance and worry about putting us in the poor house if I need care in the future. 😢
I am so sorry to hear all that. I wish you well and appreciate you watching
Dont underestimate how powerful obligations are in preventing you from achieving your financial goals.
Good video but I have to disagree with you on the 401k. You can definitely build retirement wealth using the 401k and a Roth account. You have to be very diligent to accomplish this...which most people are not.
You may be right. Thanks for watching!
Wow. I learned new things not just another spin on same concepts. Well done
My sons should be so kind to me! Thank you!
I’ll be watching this video later Joe 😂
Start visualising your retirement. I love that and will give this some serious thought.
I call it "see the finish line" when I use my running examples. Thanks for watching!
Thankfully, I have Tricare for my family and I'm also fully covered under VA healthcare and disability compensation.
Thanks for your service and thanks for watching!
Is Tricare accepted in the EU?
Observing my life at an older age,I realized to be able to retire,you have to have a lot saved,be rich,or make sure you don’t have debt…I went the no debt route..have a modest amount in 401 k account,and payed off house and car… living only on my SS income.
I wish you well. THX for the comment and for watching!
I call BS on the 401k opinion. Without that option to save for my own retirement, I would have to rely on social security which is a joke. As a self employed individual, I have been able deduct my contributions during my high income years to save on taxes. I currently have over $3,000,000 in the account after 15 years. I expect that when I retire in 3 years at age 65, it will be close to $4,000,000. My total investment is about $400,000. Not a bad return! My income and tax rate will be much lower when I retire, so the taxes I pay on the 401k withdrawals will be less than if I were still working. That is how it is supposed to work and why it is a great option. Any time I listened to a financial advisor, I lost money. I finally did my homework and invested on my own and it paid off very well. It seems these days the only pensions that are available are through government jobs. Those pension plans are unsustainable. Thank God My 401k will allow for a very comfortable retirement.
Thanks for watching
Running your own race is amazing advice. Thanks for putting together this information filled video!
I love running analogies, even though unfortunately my knee prevents me from running. Thanks for watching!
I was fortunate enough to work multiple careers that had pensions which translates to about $150,000 in constant dependable deposits. These pensions also are tyed to COLA. I am able to use my 401k to just pay the taxes on my deposits. I can be in low risk investments and still increase the 401k value. Long term, pulling more out of my 401k as i age as tax deductions and brackets increase.
Jeez, this is one of the better ones! Good for you and thx for watching.
Great content. I have watched dozens of these types of videos from other content creators and have learned a ton, but this was a fresh take with a few new concepts, and I appreciated the format which was succinct and clear.
WOW! That actually means a lot to me. Thank you Dr. Vision 😜
Have 5 years of money for the first 5 years of retirement. If I understand that correctly, I would need 5 years of house budget in cash. For me that would be 250K in cash and today I have 30K. It would take years to bring that cash portion up to 250K. I don't have 250K in cash because everything beyond 30K is working to build the future. At 60, I could be looking at 30 years in retirement, so it must keep working for me going forward.
Start here and please understand i know nothing about you 😜. If you need the money in 2 years, for example, lock that money up in a 4 or 5% CD so that you are not taking risk with that money. What you don't want is to need money and have to sell at a loss bc the market isn't cooperating. Thanks for watching!
@@theretirementguyYT Thank you for answering. As I understand it, there would be no reason for money in under 2 years. Also, given the hold time of the portfolio, which is now 35 years, nothing would be sold at an actual loss. Even in 2008 scenario(a 50% downturn), nothing would be sold at a loss. It is one benefit and the one problem with a very long term plan. Everything sold form the 401K will have a 100% taxable withdrawal, or a 75% taxable withdrawal on the brokerage account sale. But I understand the issue regarding a 5 year liquidity plan. As for now, I am wrestling with the concept of having my former company pension turned into an immediate annuity. I have grown it out to the point where it can replace 100% of my current household budget and leave my 401K in place to grow for another 7 years until full retirement age or until forced withdrawals are required in just over 10 years. These are the problems that every American should have.
Suggestion (constructional criticism/a gift): background too distracting. If you like to look at them in your own videos, do so privately, unless your goal is to distract audience as much as you can from what you are trying to say. 🤓
Thank you but I don’t get the shirt reference!!! (I get the background reference)
@@theretirementguyYT my apologies. It turned out to be dots on my screen overlapping with your shirt. Sorry about that. Comment revised.
Pensions are backloaded where the longer the employee works for a single the higher the company contribution, which is not the norm today. It is better to have a 401 plan with a good company match that is a better option than a pension plan. Most corporate pensions don't have COLAs.
I don't have a pension. I do however have $500000 in a 403B. Does it make sense to annuitize half of this to guarantee a monthly income and invest the rest in S&P funds and bonds ?
I can't answer definitively without the particulars but I believe very strongly in guaranteed income to cover needs and most wants. If you want some help deciphering. the good from the bad, shoot me an email. And ... thanks for watching!
Depends on so many factors which you have not even listed.
Get some help if this is the best you can do, I am dead serious.
Closer to fourteen. And over that with ads. 😂
I'll speak to the team and heads will roll...and thanks for watching!
I locked in the long term care insurance policy when I was 58 and still in good health. If I had waited even two years, my policy would have been much more expensive as I have developed health issues. I am single and I do not want to be a burden to my children if I should need care. The peace of mind the care will be taken care of is priceless.
Great move! People don’t realize how quickly they can become uninsurable… Thanks for watching.
Great video. Late 50's and the price of long term care scares me. Retiring from my job with a full pension. Will start a new job in less than a year. 28 years in Corrections is long enough. Did not take investing serious until the last 2 years but had money saved and the house will be paid for in 2 years. Question is what are some reperable long term care insurances? My dad was a disabled vet. I don't have that option. I plan to work another 11 years and start collecting Social Security at 67 but work until 69. 2 years of Full Social Security, Pension and Full time employment.
I’m not sure I understand your question. What are repairable long-term care policies? (by the way thank you for watching.)
Im 54 and still working until our oldest graduates Highschool. I have a military pension that more than covers my expenses along with Tricare insurance, which is good but relatively inexpensive. Planning to use my Roth and 401k as basically large emergency funds as needed and to withdraw only in the “up” years and even then less than whatever the funds did in returns for that year (if the fund earns 8%, only take maybe 6%). Planning to delay SS until FRA as well because I really shouldn’t need it.
Thank you for your service and thx for watching!
I stayed in a hostel a few blocks away from Wrigley Field, it was cheap, not too far away from a White Castle Hamburger joint and I loved it, great experience
I haven't been to White Castle in 35 years (at 4am LOL) Now that's when I get up. Thanks for watching!
Thank you for making this Video. Much Appreciated! :)
Beth I hear you calling, but I can't come home right now, me and the boys...
Thanks for watching!
I sm thinking of getting an Annuity for stable income floor
Economists don't agree on much but universally agree that creating a stable income floor to cover your needs in retirement is a good idea. If you need help with that, let me know. I have some very strong opinions on what you should never do in this area. Thanks for watching!
Do they sell those policies anymore? I don’t find that in the market.
They are sold thru advisors (like me - LOL). But seriously, please research to see if it makes sense for you.
My sister and BIL had long term care policy till the company folded. they are older and sicker than me; scary.
Awesome video my man new sub
Thanks for watching!
I have lived alone for 40 years. The day I can’t take care of myself I will checkout. I refuse to ask anyone for help.
I wish you well. Thanks for watching!
I was young again I would not even go to work again. Working for the rich
I worked for my children lol - thanks for watching!
What? Be homeless? Start a business?
@@Swamprowdy Own business, own boss, even with a small income