Hello, I'm approaching retirement in about two years, and I'm trying to get a better understanding of how others manage their finances, especially in terms of splitting their income between savings, spending, and investments. I earn around $50,000 a year, but unfortunately, I don’t have much saved up at this point. I’m curious to know how people typically allocate their income in these categories and any advice on how I might better prepare financially for retirement.
Given the current instability in the markets, it's advisable to diversify your investments while keeping 70-80% in more secure options. Considering your budget, it may also be worthwhile to seek guidance from a financial advisor.
I think you're better off with majority investment in S&P500 and uprising equities cos they always outperform. Also speaking with an advisor can help with pointers. I've been in contact with one I reached through commentaries here, she has been really helpful.
Seeking guidance from a financial advisor like Melissa Terri Swayne could be a smart move when it comes to shaping and managing your portfolio. With uncertain times ahead, having a trusted expert by your side can make all the difference. Thoughtful and disciplined money management will be key to navigating challenges and ensuring long-term financial stability.
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
Financial planning and retirement strategies are crucial, especially in today's economic climate. With global economic fluctuations and uncertainties, it's essential to have a solid plan in place to protect your financial future.
Consider diversifying your portfolio with a mix of stocks and stable assets. Seeking professional advice now could provide valuable insights and strategies to navigate market uncertainties and protect your investments.
Agreed, it's why I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.
I retired with $600k saved, and looking back, I realize I could’ve done things differently. Not saving enough, plus the impact of inflation and sequence of returns risk, makes me worry about outliving my savings, and it’s not something I can easily ignore. Not saying it’s the only way to go, but it’s something I think about
In this current unstable markets, It is advisable to diversify while retaining 70-80% in secure investments. looking at your budget, you should consider financial advisory.
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 $30k passively 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'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with Sophia Irene Powell for years and highly recommend her. Look her up to see if she meets your criteria.
I need to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K from my cash savings.
diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor to help you invest in tax advantaged accounts.
Low six-figure income, no debt, nearing mortgage payoff ($400k property), age 43. Invested over 15x annual salary, amazed by focus on scraping by in retirement. Aim for surplus. My goal: retire at 55 with $5M. Unless the markets crash, these two points should align. I'm quite lucky to have started working with a financial advisor early.
This is mind blowing! As a young adult inheriting about $500k and new to stock investing, I'd greatly appreciate it if you could direct me to your advisor. I can't afford to make costly mistakes.
This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried.
Not a lot of people are able to save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
I’m closing in on retirement, too, and I have benefitted so much from using a financial advisor. I didn’t start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who had been investing for many years.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Annette Christine Conte for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thank you Ari. We're reviewing these issues right now. Currently we are doing the "one more year" thing as adding another $2k-$2500 a month would allow a better lifestyle and maybe avoid some infighting on budget issues. We're reviewing our budget and doubling it. i know - it sounds familiar.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing below the $100k mark and in the first 2 months, my portfolio was reading $234,800. Crazy right!, I decided to reinvest a huge percentage of my profit and it got more interesting.! For over a year we have been working together making consistent profit just bought my second home at the beginning of summer.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
Great video brother, I believe every family has that one person who will break the family financial struggle, I hope you reading this become the one, and all who said Amen.
Hello, I am due for retirement in two years, I'm a senior citizen but I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $90K per year but nothing to show for it yet.
In this current unstable markets, It is advisable to diversify while retaining 70-80% in secure investments. looking at your budget, you should consider financial advisory.
I think you're better off with majority investment in S&P500 and uprising equities cos they always outperform. Also speaking with an advisor can help with pointers. I've been in contact with one I reached through commentaries here, she has been really helpful.
Finding financial advisors like Sophia Maurine Lanting” 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.
And then I say "How did you know that was going to happen? Where did you acquire such insight?" And then you respond, "I have been working with this guru, and he has been giving me advice on how to navigate TH-cam without falling prey to scams and it has saved me thousands." To which I then ask, "That's sounds amazing. I got scammed last year. If only I'd known. Who is this guru?" To which you then reply, "His name is Guru Scamster McScamsalot - his prices are really affordable and totally worth it." And then I reply, "Amazing! I found him with a simple google search. I signed up and I am seeing results already!" Of course this is all a joke: The only thing more sure than the eventual scam post is someone confusing this comment as being earnest, especially if I'd used any less obvious name. :p
Even superhero accounts can have tax issues. I've been retired for 3 years and haven't been able to do much with Roth conversions because rebalancing the "superhero" account has shot me into a high tax bracket and wiped out any ACA subsidies as well. It's a good problem to have but keep in mind that long term capital gains in a taxable account can make that account value look like more than it actually is.
Good point. I'm retiring in 2026 at 56 and keeping a healthy allocation to fixed income in my "superhero" account which I will liquidate over time with potentially not much of a gain in order to allow for Roth conversions and ACA subsidies. The plan is to get my $1 million+ 401k all converted to Roth by RMD age (75).
@@Matthew-ym2bb Keep in mind the much better tax situation for qualified dividends. The bottom tax rate is 0%. I do a lot of calculations around now to determine an optimum amount to convert to Roth without impacting my taxes on dividends and long-term capital gains. The more you convert, the more it pushes your dividend and capital gains rates into higher brackets. It's like a double whammy. Every dollar converted will eventually get taxed at your current tax bracket and push a dollar of your dividend and capital gains into a higher bracket as well. Paying 37% (22% standard + 12% dividend) on a dollar now isn't better than paying 35% with an RMD. Oh and retiring early and getting on ACA healthcare adds even more money it will cost you as you lose your subsidy.
Happy Thanksgiving, and thank you for the great content. Ari, can you recommend an online CFP program? I plan to hire a financial advisor next year, have an above average portfolio, no debt, but I must improve my financial knowledge. Retirement planning is so complicated!
The rule of 55 only works if your 401(k) plan lets your do partial withdrawals, too many employers do not offer it. Chances are doing a full withdrawal, even without the 10% penalty, is less than ideal.
How can I participate in this? I sincerely aspire to establish a secure financlal future and i'm eager to participate. Who is the driving force behind your success?
Ari, Can you please answer one question for me? You speak about taxed retirement income. If I do a the traditional 4% rule...is that money taxed if its been invested in my account for many years?
I'm an investment mgr/financial planner retiring next year and researching how to manage my $ w/o the sophisticated systems my firm utilizes now. Does the program you offer at $399 (I currently use Money Guide Pro) allow one to upload daily account balances and holdings from various sources? If so, does it also allow you to categorize holdings into asset classes for rebalancing purposes? Here we go Liverpool!
3 Million, you can draw 90K a yr , conservative , or 105K a yr from 3.5% swr from SPY w/ dividends reinvested inflation adjusted. 99.999% chances you'll never touch your principal and compounded grow another 3-4%. The rule of 4% was accounted for the worst possible timing and events such as great depression and financial crisis in between, and you still run out just on principal in 30 yrs. TIPS range from 1.5-2.8%. You can definitely be safe with 3% rule as absolute base endlessly generating 90K a yr and still growing your money 3-4% more per yr. The real question is, is 90K-105k a yr enough for you. For me, heck yes. Just get a part time gig to not get bored
I’m 43, married with 10 years left on my mortgage in Southern CA, 2 kids (6 & 10) with $475k in a retirement roll over 401k brokerage account. Just started adding to a Roth with a new employer and traditional 401k, which I max out. I also have a HSA with $15k that I intend to keep maxing out. Both kids have 529’s with about $60k combined. I’d like to retire at 55, but would settle for 58. Will this software help me run multiple senerios with the above factors? Also my wife has a Roth not included in the above. Awesome videos! Some of the best I’ve watched.
If I eat ramen and eggs and live in a lower COL area in the US, I could retire today at 36. No, I'm not planning on doing so. That would be a long, boring life. But as soon as I can live 90% as well in retirement as when working (and saving, investing etc), I'll retire, and not a day later.
@@TheFirstRealChewy Health insurance, yes I could retire handling that. Health care? tbh I have no idea how to budget for that. Haven't been to a doctor in about 18 years - and that was for LASIK, not sickness. But I'm not actually retiring in my 30s so it's all theoretical anyway. Besides, if a vehicle collision took me out tomorrow I'd discover I could have retired at 29. No matter when we retire, it's ALWAYS a complete guess even though we tell ourselves it's not.
Whether you have $20 or $20 million learn to count your own money, it’s not that difficult. Most of this stuff is smoke and mirrors to keep you doubting yourself and depending on others to count your money for you, if you were intelligent enough to amass $3 million ,you can surely figure out how to spend it. You can have access to the same or similar computer program.They’re using an in many cases it won’t cost you a dime.
I was going to guess $3,000,,000. That's how much you could spend. Before you are broke. And yes, I know some people who did it. They don't understand why I don't spend more.
You have to be careful with the rule of 55. Sure it eliminates the 10% penalty but it has no rules about distributions. I believe companies have to pay more into the plan to allow people to do periodic distributions between 55 and 59.5. So some of them only allow you to take the entire account balance as a single distribution in that age range which is going to be taxed.
The 405 ha ha - I get stuck on the 405 every time i go to LA! ... can i move to Tahiti and snorkel for a long time? (Vagabond slow travel) This is a totally great video.
Just found you because of the Algos. There is a large amount of dreamers out here getting large positions into Crypto, namely XRP and bitcoin. If say one gets a large return in a year of say 1 million, how can one extract that to preserve as much from the cap gains tax or at least know how much will be donated to the government per 100? New Sub. Lot of customers are now getting into this space. Your thoughts?
Depends on the vacarion you are doing. If you're doing a lot of international travel each year then it's normal. Keep in mind that these are retired people who have a lot more free time, so they can easily spend half the year traveling.
With $7million I will register with a Fiduciary ASAP, and put $3M into a 3 fund portfolio, that pay out $800k plus a year. I encourage you to look up Essmildaa Morgan, one of the finest Asset Managers around.
A Financial Planner told me Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. How can take advantage of compound interest and potentially grow your retirement savings overtime?
That is exactly the reason I stopped trusting the financial advice of TH-camrs; in the long run, I only end up with a jumbled collection of stocks and bonds. Whereas all I needed to earn over $350k in less than two years was guidance from a true market expert.
I started with a financial advisor by the name “Celia Kathleen Martel’’ She is quite popular in the US and occasionally appears on CNBC. She also has a web page you can reach her on. Thank me later
Peeve: Treating a yield sign like a stop sign when there's nobody to yield to....have you done an analysis where most of your money is superhero say from a business sale yet you don't have much qualified money? Happy Thanksgiving, enjoy your family time
what you can retire on highly depends on what you're earning now. whatever your annual salary is, multiply it by 25 and that's what you'll roughly need to retire and maintain your current standard of living.
Ari, you asked us to share our pet peeves with you. My pet peeve is when I walk into a sandwich shop and the sandwich artist does not greet the customer. I simply want to turn around and walk out the door. This happened recently when there were no other customers in the store. I said "hello" to the artist and received a cold stare in return. I would have left, but I confess, I was hungry. It was not a pleasant experience.
driving pet peeve:: People who think the turn signal is something woosies use. Financial pet peeve: people who advocate YieldMax funds for those under 50 years old. (and even for older people thay rarely make sense)
Hello, I'm approaching retirement in about two years, and I'm trying to get a better understanding of how others manage their finances, especially in terms of splitting their income between savings, spending, and investments. I earn around $50,000 a year, but unfortunately, I don’t have much saved up at this point. I’m curious to know how people typically allocate their income in these categories and any advice on how I might better prepare financially for retirement.
Given the current instability in the markets, it's advisable to diversify your investments while keeping 70-80% in more secure options. Considering your budget, it may also be worthwhile to seek guidance from a financial advisor.
I think you're better off with majority investment in S&P500 and uprising equities cos they always outperform. Also speaking with an advisor can help with pointers. I've been in contact with one I reached through commentaries here, she has been really helpful.
I'm thinking of trying out an advisor, how can one reach a decent advisor like the one you use?
Seeking guidance from a financial advisor like Melissa Terri Swayne could be a smart move when it comes to shaping and managing your portfolio. With uncertain times ahead, having a trusted expert by your side can make all the difference. Thoughtful and disciplined money management will be key to navigating challenges and ensuring long-term financial stability.
Thanks, I just googled Melissa and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
Financial planning and retirement strategies are crucial, especially in today's economic climate. With global economic fluctuations and uncertainties, it's essential to have a solid plan in place to protect your financial future.
Consider diversifying your portfolio with a mix of stocks and stable assets. Seeking professional advice now could provide valuable insights and strategies to navigate market uncertainties and protect your investments.
Consulting with a financial advisor can provide personalized insights and help align your investment strategy with your retirement goals.
Agreed, it's why I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.
Working with professionals who have expertise and experience in the market can provide valuable insights and guidance to navigate volatile times.
I retired with $600k saved, and looking back, I realize I could’ve done things differently. Not saving enough, plus the impact of inflation and sequence of returns risk, makes me worry about outliving my savings, and it’s not something I can easily ignore. Not saying it’s the only way to go, but it’s something I think about
In this current unstable markets, It is advisable to diversify while retaining 70-80% in secure investments. looking at your budget, you should consider financial advisory.
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 $30k passively 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’ve been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.
I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with Sophia Irene Powell for years and highly recommend her. Look her up to see if she meets your criteria.
Thank you for the recommendation. I'll send her an email and I hope I'm able to connect with her.
I need to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K from my cash savings.
diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor to help you invest in tax advantaged accounts.
Low six-figure income, no debt, nearing mortgage payoff ($400k property), age 43. Invested over 15x annual salary, amazed by focus on scraping by in retirement. Aim for surplus. My goal: retire at 55 with $5M. Unless the markets crash, these two points should align. I'm quite lucky to have started working with a financial advisor early.
This is mind blowing! As a young adult inheriting about $500k and new to stock investing, I'd greatly appreciate it if you could direct me to your advisor. I can't afford to make costly mistakes.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Thanks Ari. Definitely enjoy the videos. Happy Thanksgiving all!!!
People say money can’t buy happiness, but I’m betting $3 million could make most of us happy for a few decades. 😂 Anyone else ready to retire early?
Ari, you and James are great!!
This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried.
Not a lot of people are able to save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
I’m closing in on retirement, too, and I have benefitted so much from using a financial advisor. I didn’t start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who had been investing for many years.
Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Annette Christine Conte for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
Spending 60k 70k a month and want to retire.. that person has some spending problems.
heck id be fine wth 70k a yr lol
The commenter was right. $2.2M is enough for REASONABLE people. Wanting to spend $60-70K a month is UNREASONABLE.
Thank you Ari. We're reviewing these issues right now. Currently we are doing the "one more year" thing as adding another $2k-$2500 a month would allow a better lifestyle and maybe avoid some infighting on budget issues. We're reviewing our budget and doubling it. i know - it sounds familiar.
@@mike-e4e4e I encourage working one more year if it would lead to a better retirement. I don’t encourage when it’s unnecessary
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing below the $100k mark and in the first 2 months, my portfolio was reading $234,800. Crazy right!, I decided to reinvest a huge percentage of my profit and it got more interesting.! For over a year we have been working together making consistent profit just bought my second home at the beginning of summer.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Donnafrank-k6e Oh please I’d love that. Thanks!.
Lookup with her name on the webpage.
@@Donnafrank-k6e She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
@@GeorgestraitStriat You are welcome .
You can retire whenever you want as long as your spending and assets align.
But most retirees don't spend as much as can because they don't want to.
Great video brother, I believe every family has that one person who will break the family financial struggle, I hope you reading this become the one, and all who said Amen.
AMEN
🙏🙏
Amen , Thank you for posting
Great Video!
Hello, I am due for retirement in two years, I'm a senior citizen but I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $90K per year but nothing to show for it yet.
In this current unstable markets, It is advisable to diversify while retaining 70-80% in secure investments. looking at your budget, you should consider financial advisory.
I think you're better off with majority investment in S&P500 and uprising equities cos they always outperform. Also speaking with an advisor can help with pointers. I've been in contact with one I reached through commentaries here, she has been really helpful.
I'm thinking of trying out an advisor, how can one reach a decent advisor like the one you use?
Finding financial advisors like Sophia Maurine Lanting” 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.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Great example for many people. I use the Boldin software to do some of this
Yes. You can retire with 3 million. However, ensure it's not part of your government retirement accounts as you can withdraw from that until 59.5
Rule of 55, he just said the same in the video.
Don’t fall for the inevitable scam comment recommending a scam advisor. Inbound in 3…2…1
And then I say "How did you know that was going to happen? Where did you acquire such insight?"
And then you respond, "I have been working with this guru, and he has been giving me advice on how to navigate TH-cam without falling prey to scams and it has saved me thousands."
To which I then ask, "That's sounds amazing. I got scammed last year. If only I'd known. Who is this guru?"
To which you then reply, "His name is Guru Scamster McScamsalot - his prices are really affordable and totally worth it."
And then I reply, "Amazing! I found him with a simple google search. I signed up and I am seeing results already!"
Of course this is all a joke: The only thing more sure than the eventual scam post is someone confusing this comment as being earnest, especially if I'd used any less obvious name. :p
I have an excellent advisor! His name is Ima Dumbazz you can google his credentials.
I looked him up and Ima Dumazz is just so amazing
@@scottbaker9066Can you tell me how to contact them? They sound amazing! 😅
I have a Nigerian advisor
Even superhero accounts can have tax issues. I've been retired for 3 years and haven't been able to do much with Roth conversions because rebalancing the "superhero" account has shot me into a high tax bracket and wiped out any ACA subsidies as well. It's a good problem to have but keep in mind that long term capital gains in a taxable account can make that account value look like more than it actually is.
Good point. I'm retiring in 2026 at 56 and keeping a healthy allocation to fixed income in my "superhero" account which I will liquidate over time with potentially not much of a gain in order to allow for Roth conversions and ACA subsidies. The plan is to get my $1 million+ 401k all converted to Roth by RMD age (75).
@@Matthew-ym2bb Keep in mind the much better tax situation for qualified dividends. The bottom tax rate is 0%. I do a lot of calculations around now to determine an optimum amount to convert to Roth without impacting my taxes on dividends and long-term capital gains. The more you convert, the more it pushes your dividend and capital gains rates into higher brackets. It's like a double whammy. Every dollar converted will eventually get taxed at your current tax bracket and push a dollar of your dividend and capital gains into a higher bracket as well. Paying 37% (22% standard + 12% dividend) on a dollar now isn't better than paying 35% with an RMD. Oh and retiring early and getting on ACA healthcare adds even more money it will cost you as you lose your subsidy.
Happy Thanksgiving, and thank you for the great content. Ari, can you recommend an online CFP program? I plan to hire a financial advisor next year, have an above average portfolio, no debt, but I must improve my financial knowledge. Retirement planning is so complicated!
I don't understand how people can retire on 6000/month before 65. Great health insurance, organic clean food, ect is a fortune.
The rule of 55 only works if your 401(k) plan lets your do partial withdrawals, too many employers do not offer it. Chances are doing a full withdrawal, even without the 10% penalty, is less than ideal.
Retirement isn’t an end goal, but a journey best secured by careful and consistent investments.
Retirement is the reward of disciplined investing over the long term, not just a destination.
My adviser guided me through retirement planning, ensuring my investments were strategically positioned for long-term rewards.
How can I participate in this? I sincerely aspire to establish a secure financlal future and i'm eager to participate. Who is the driving force behind your success?
Nicole Anastasia Plumlee can't divulge much. Most likely, the internet should have her basic info, you can research if you like..
I just Googled her name and her website came up right away. It looks interesting so far. I sent her an email and i hope she responds soon.
Not related to this video, but I bought Umbrella Insurance this week, based on a prior video. Thanks!
@@TimOtero-nm5fg you’re welcome Tim!
For a rainy day ?
what would you buy that would cost 60-70K a month?
Ari, Can you please answer one question for me? You speak about taxed retirement income. If I do a the traditional 4% rule...is that money taxed if its been invested in my account for many years?
I'm an investment mgr/financial planner retiring next year and researching how to manage my $ w/o the sophisticated systems my firm utilizes now. Does the program you offer at $399 (I currently use Money Guide Pro) allow one to upload daily account balances and holdings from various sources? If so, does it also allow you to categorize holdings into asset classes for rebalancing purposes? Here we go Liverpool!
3 Million, you can draw 90K a yr , conservative , or 105K a yr from 3.5% swr from SPY w/ dividends reinvested inflation adjusted. 99.999% chances you'll never touch your principal and compounded grow another 3-4%. The rule of 4% was accounted for the worst possible timing and events such as great depression and financial crisis in between, and you still run out just on principal in 30 yrs. TIPS range from 1.5-2.8%. You can definitely be safe with 3% rule as absolute base endlessly generating 90K a yr and still growing your money 3-4% more per yr. The real question is, is 90K-105k a yr enough for you. For me, heck yes. Just get a part time gig to not get bored
I’m 43, married with 10 years left on my mortgage in Southern CA, 2 kids (6 & 10) with $475k in a retirement roll over 401k brokerage account. Just started adding to a Roth with a new employer and traditional 401k, which I max out. I also have a HSA with $15k that I intend to keep maxing out. Both kids have 529’s with about $60k combined. I’d like to retire at 55, but would settle for 58. Will this software help me run multiple senerios with the above factors? Also my wife has a Roth not included in the above. Awesome videos! Some of the best I’ve watched.
If I eat ramen and eggs and live in a lower COL area in the US, I could retire today at 36.
No, I'm not planning on doing so. That would be a long, boring life.
But as soon as I can live 90% as well in retirement as when working (and saving, investing etc), I'll retire, and not a day later.
Would you also be paying for healthcare? Most people tend to exclude this.
retire from a full time job. 9-5. Work part time 9-1. Problem solved
@@TheFirstRealChewy Health insurance, yes I could retire handling that. Health care? tbh I have no idea how to budget for that. Haven't been to a doctor in about 18 years - and that was for LASIK, not sickness. But I'm not actually retiring in my 30s so it's all theoretical anyway. Besides, if a vehicle collision took me out tomorrow I'd discover I could have retired at 29. No matter when we retire, it's ALWAYS a complete guess even though we tell ourselves it's not.
3 million isn't quite enough to live in Massachusetts.
Insurance alone is costing me $1800 a month
move away from HCOL.
@mysterio5837
In my case , there's no need .
I can afford it here
This is a useful video. The numbers are very comparable to me and the majority of my peers. Thank you!
@@Brian-bq9up my pleasure
Whether you have $20 or $20 million learn to count your own money, it’s not that difficult. Most of this stuff is smoke and mirrors to keep you doubting yourself and depending on others to count your money for you, if you were intelligent enough to amass $3 million ,you can surely figure out how to spend it. You can have access to the same or similar computer program.They’re using an in many cases it won’t cost you a dime.
I was going to guess $3,000,,000. That's how much you could spend. Before you are broke. And yes, I know some people who did it. They don't understand why I don't spend more.
You have to be careful with the rule of 55. Sure it eliminates the 10% penalty but it has no rules about distributions. I believe companies have to pay more into the plan to allow people to do periodic distributions between 55 and 59.5. So some of them only allow you to take the entire account balance as a single distribution in that age range which is going to be taxed.
@@vchap01 most allow for distributions over time on custom schedule.
The 405 ha ha - I get stuck on the 405 every time i go to LA!
... can i move to Tahiti and snorkel for a long time? (Vagabond slow travel)
This is a totally great video.
@@scottbaker9066 thanks, Scott. I’ll join you in Tahiti!!
Just found you because of the Algos. There is a large amount of dreamers out here getting large positions into Crypto, namely XRP and bitcoin. If say one gets a large return in a year of say 1 million, how can one extract that to preserve as much from the cap gains tax or at least know how much will be donated to the government per 100? New Sub. Lot of customers are now getting into this space. Your thoughts?
Ari.... PLEASE,
Do a video for retirement using Buy, Borrow, Die!!!
Thank you!
If you die owing a million dollars…. You’ve died A Millionaire… & You do Take It With You!!
$20,000 per year is a lot to spend on vacation. Is that annually?
@@keithwilmes4946 yes
Depends on the vacarion you are doing. If you're doing a lot of international travel each year then it's normal. Keep in mind that these are retired people who have a lot more free time, so they can easily spend half the year traveling.
Our vacation budget in retirement is $24K per year. I consider it to be a good challenge to get up to that.
Doubting retirement even with 1 million is something insane
How so? It depends on expenses.
If I have acquired 3m, I know what the f&$k I need to do! Hey Ari, I’m 65 and you’re 27. Can you please help me figure this out!
Do 56, single, $7M, no real estate, no pension! Asking for a friend.
With $7million I will register with a Fiduciary ASAP, and put $3M into a 3 fund portfolio, that pay out $800k plus a year. I encourage you to look up Essmildaa Morgan, one of the finest Asset Managers around.
A 3 fund portfolio is a core foundational portfolio. Nice one.
$6k/month is a LOT of raman. That must sodium and they won't have to worry about longevity risk?
@@JustABill02 right?!
If you can't then you likely inherited the wealth
A Financial Planner told me Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. How can take advantage of compound interest and potentially grow your retirement savings overtime?
In times like this it is better to seek help from a professional as such key decisions are better guided by experts with market experience.
That is exactly the reason I stopped trusting the financial advice of TH-camrs; in the long run, I only end up with a jumbled collection of stocks and bonds. Whereas all I needed to earn over $350k in less than two years was guidance from a true market expert.
Thanks for replying, That's a very impressive return, You must have a good idea of stocks. How did you go about it?
I started with a financial advisor by the name “Celia Kathleen Martel’’ She is quite popular in the US and occasionally appears on CNBC. She also has a web page you can reach her on. Thank me later
I just ran a search with her name out of curiosity and came across her web page, I wrote her an email hope she replies soon.
Peeve: Treating a yield sign like a stop sign when there's nobody to yield to....have you done an analysis where most of your money is superhero say from a business sale yet you don't have much qualified money? Happy Thanksgiving, enjoy your family time
what you can retire on highly depends on what you're earning now. whatever your annual salary is, multiply it by 25 and that's what you'll roughly need to retire and maintain your current standard of living.
No it's not. It depends on your expenses when you retire. You could spend more or less in retirement.
Ari, you asked us to share our pet peeves with you. My pet peeve is when I walk into a sandwich shop and the sandwich artist does not greet the customer. I simply want to turn around and walk out the door. This happened recently when there were no other customers in the store. I said "hello" to the artist and received a cold stare in return. I would have left, but I confess, I was hungry. It was not a pleasant experience.
@@woodsparker7902 hunger does many things! I don’t blame you and thank you for sharing.
I’ve got 3 million in beanie babies, am I ready to retire?
Hold on to them! They will appreciate
driving pet peeve:: People who think the turn signal is something woosies use. Financial pet peeve: people who advocate YieldMax funds for those under 50 years old. (and even for older people thay rarely make sense)
@buyerclub2 I have < 2% of my savings in YieldMax funds and the dividends cover our travel every year.
Lmao hell yeah!
Just live a simple lifestyle in a 3rd world country 😅
As long as you're OK with the transition.😅