I started at 48 with the same feeling, but have got used to the idea that although I'm behind where I would have been if I'd known earlier what I know now, I'm way ahead of where I would be if I hadn't started, and will retire ahead of most of my peers who are just relying on their company pension
Keep going buddy I started at 41... was in 13k debt and living in my overdraft. I'm now debt free have a 20K emergency fund. 30K saving pot and just surpassed ~$500K in my portfolio... I am almost 44 now!
Congrats! Lost over hundred K since 2022 chasing individual stocks and I feel pretty stupid for not understanding how investing works. In the grand scheme of things it's now much, but it's taken a toll on my mental health, to say the least. Going into a new year, maybe my goal should be to stop...
That's sucks. Don't try to shoot the lights out taking unnecessary risk. Keep it simple and practice proper portfolio diversification. I’m invested in ETFs, REITs, and Individual bluechip company stocks and use a CFA. On average, she takes an agreed %age of earnings, but using *Lina Dineikiene's* system makes it much more hands-off. I conservatively follow her recommendations and market entry and exit points, and tbh this makes it fairly simple for me... I am convinced it's not just hard work but smart work:-)
It's pretty impressive what you see when u look up her name on Google. I've gotta say her credentials are just fine! Good enough to lay any doubts to rest. Thanks for leaving this here :D
I am debt free sold my BIG home and bought a smaller one and debt free.. flexibility to work part=time etc. good points. I also have portfolio of million and HYSA with 5 years of living expenses I am 60. I feel free!!!!!
Love this video, even if it is more conceptual. If you dont already have a video, I would love to understand approaches on withdrawing once you retire (buckets, scheduled monthly withdrawals, etc).
Take care of your health I am 60 look like I am under 40 feel like I am 25 because I have always put my health first. marathon runner and cyclist. I am currently a spinning instructor and workin on my PT personal training certification. Health is important and here's what I tell people don't worry about debt. "There's no such thing as debtors prison so don't worry about it keep investing and one day you will be free".
Yes we are 61 and 58, our health became a part of our lives when we pasted 30 and now it has paid off as without great health you need no wealth, that is how we stuck to our health pattern that now after all these years it is just our way of life, of course, it helps that we also went debt free by 50 including our home, that helps our health stay good as well. Thank you. Lance.
Hello Kevin, I am 67, retired, and have applied all of the principles that you have mentioned in this video! I have a financial question: how do you feel about bitcoin and cryptocurrency? My nephew is my CFP and he is not a fan of it. Just asking your opinion.
Question: I'm 67, my spouse is 65. We planned on waiting to take SS until he is 66.5 and I am 70. With most economists projecting that the new administration will bankrupt SS within 6 years, or at very least reduce benefits by 30% to make up for tax cuts for the wealthy and deportations, would it be better to start taking SS now?
@ps4402 All I'm saying is find out who claimed that the new admin is reducing benefits? Show us the campaign discussion from their point and not MSM. Are they the same that said 20-30 yrs ago we would be under water in FL? Or that we'd all be dead from green house gases? Or that the ice packs have never been thawed out this far? Or, that the majority of voters just selected a dictatorship? Etc. It's been my experience that the "sky is falling" crowd and their believers are easily misled.
Okay, dumb question: Why is using cash to pay your tax liability when you convert from traditional to roth a better plan than taking the hit in taxes from the conversion? You're still reducing your balance sheet by the same amount, right? Is it because of opportunity loss? Higher balance being converted gives you immediate higher returns simply because your putting more money to work immediately. I think I answered my own question. LOL.
I find it amusing that all these types of videos use stock footage of folks (usually older) sitting around with laptops and calculators counting out piles of cash. I’m mean yeah my wife and I routinely sit around the kitchen table with piles of cash to sort through. I can barely remember the last time I even used paper money let alone had piles of it to count through😂
I’ve thought the same thing, but there’s not a ton of relevant stock photos. There’s one video I feel that editors use constantly. I’ve had to tell them to stop.
@ Well if you’re willing to supply the money as a prop, I’ll happily film myself counting it in a variety of different locations and outfits to spice things up. You may or may not get it back of course. 🤣😂
Watching in my 40s... And only just starting investing I feel so behind!
I started at 48 with the same feeling, but have got used to the idea that although I'm behind where I would have been if I'd known earlier what I know now, I'm way ahead of where I would be if I hadn't started, and will retire ahead of most of my peers who are just relying on their company pension
Keep going buddy I started at 41... was in 13k debt and living in my overdraft. I'm now debt free have a 20K emergency fund. 30K saving pot and just surpassed ~$500K in my portfolio... I am almost 44 now!
Congrats! Lost over hundred K since 2022 chasing individual stocks and I feel pretty stupid for not understanding how investing works. In the grand scheme of things it's now much, but it's taken a toll on my mental health, to say the least. Going into a new year, maybe my goal should be to stop...
That's sucks. Don't try to shoot the lights out taking unnecessary risk. Keep it simple and practice proper portfolio diversification. I’m invested in ETFs, REITs, and Individual bluechip company stocks and use a CFA. On average, she takes an agreed %age of earnings, but using *Lina Dineikiene's* system makes it much more hands-off. I conservatively follow her recommendations and market entry and exit points, and tbh this makes it fairly simple for me... I am convinced it's not just hard work but smart work:-)
It's pretty impressive what you see when u look up her name on Google. I've gotta say her credentials are just fine! Good enough to lay any doubts to rest. Thanks for leaving this here :D
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments.
I am debt free sold my BIG home and bought a smaller one and debt free.. flexibility to work part=time etc. good points. I also have portfolio of million and HYSA with 5 years of living expenses I am 60. I feel free!!!!!
Good point roll over 401K mine was in a majority of company stock rolled it into IRA and boy did I see the gains in 10 years...
Love this video, even if it is more conceptual. If you dont already have a video, I would love to understand approaches on withdrawing once you retire (buckets, scheduled monthly withdrawals, etc).
Take care of your health I am 60 look like I am under 40 feel like I am 25 because I have always put my health first. marathon runner and cyclist. I am currently a spinning instructor and workin on my PT personal training certification. Health is important and here's what I tell people don't worry about debt. "There's no such thing as debtors prison so don't worry about it keep investing and one day you will be free".
Yes we are 61 and 58, our health became a part of our lives when we pasted 30 and now it has paid off as without great health you need no wealth, that is how we stuck to our health pattern that now after all these years it is just our way of life, of course, it helps that we also went debt free by 50 including our home, that helps our health stay good as well. Thank you. Lance.
Hello Kevin, I am 67, retired, and have applied all of the principles that you have mentioned in this video! I have a financial question: how do you feel about bitcoin and cryptocurrency? My nephew is my CFP and he is not a fan of it. Just asking your opinion.
Great information, just subscribe
You are so helpful! Thank you.
This was very helpful!
Sir, how can I consult for Roth conversion?
Thanks for what you do. Great info.
Thanks for the recommendations, I will reduce my catch up 401k and use these funds to increase my brokerage account.
Use the catch up contribution to do Roth 401k if you have that option at your job
Question: I'm 67, my spouse is 65. We planned on waiting to take SS until he is 66.5 and I am 70. With most economists projecting that the new administration will bankrupt SS within 6 years, or at very least reduce benefits by 30% to make up for tax cuts for the wealthy and deportations, would it be better to start taking SS now?
Your first step is not to make decisions based on economists on MSNBC.
@stuckinmygarage6220 Agreed, I don't watch MSNBC. My question is valid.
@ps4402 All I'm saying is find out who claimed that the new admin is reducing benefits? Show us the campaign discussion from their point and not MSM. Are they the same that said 20-30 yrs ago we would be under water in FL? Or that we'd all be dead from green house gases? Or that the ice packs have never been thawed out this far? Or, that the majority of voters just selected a dictatorship? Etc. It's been my experience that the "sky is falling" crowd and their believers are easily misled.
@@ps4402 Please cite your source(s) for the presupposition - which I do not accept - so that your question would, indeed, be 'valid'.
Hello, How do I get in touch with you for consultation?
Kevin, great video as always, but i think you forgot to remind people to like and subscribe, haha! Gotta self promote my dude!
Okay, dumb question: Why is using cash to pay your tax liability when you convert from traditional to roth a better plan than taking the hit in taxes from the conversion? You're still reducing your balance sheet by the same amount, right? Is it because of opportunity loss? Higher balance being converted gives you immediate higher returns simply because your putting more money to work immediately. I think I answered my own question. LOL.
Great content. 🔥
Thank you!
I find it amusing that all these types of videos use stock footage of folks (usually older) sitting around with laptops and calculators counting out piles of cash. I’m mean yeah my wife and I routinely sit around the kitchen table with piles of cash to sort through. I can barely remember the last time I even used paper money let alone had piles of it to count through😂
I’ve thought the same thing, but there’s not a ton of relevant stock photos. There’s one video I feel that editors use constantly. I’ve had to tell them to stop.
@ Well if you’re willing to supply the money as a prop, I’ll happily film myself counting it in a variety of different locations and outfits to spice things up. You may or may not get it back of course. 🤣😂
Haha
Can I do a ROTH conversion with my traditionally invested TSP if I'm not 59 1/2 without a penalty?
Unfortunately the TSP does not allow for Roth IRA conversions, so your options are limited.
Diversifying is selling the winners to buy the loosers.
You can also buy assets that are out of favor without selling your winners.
Hindsight always a problem for everyone.
First! Yay me!
TY!!!