I'm retired and did so at age 42 with about $1.1M for two people. We had an advisor from Morgan Stanley in our corner. Maxed 401k for many years and then saved additional in index funds in taxable account. Our rate of return has been around 10% percent per year in the taxable account over the last 10 years.
I grew up in a cash only savings environment and a mother who has a small 401k saving. I’m just now learning about the stock market creeping towards 30 so I would appreciate more information about your advisor.
I have Fidelity and they offer financial advisors...met with them and I was already in line with my investment choices like above, and followed the flow chart....Have my Roths, IRA, Brokerage, and 401K. I will go back soon to discuss rollovers to from IRA to Roth.
@@cobbsruff8732 Wow I have been speaking to a couple of advisor and I would love to check out this Linda Jean Edral. I just don’t have it in me to do the reading about all this. It would be a huge relief to offload that set of tasks.
Mom gone @ 63, Dad @ 68, sister @45, step brother @ 53, collecting @ 62!! Tomorrow is not guaranteed!!!! A bird in the hand is better than 2 in the bush!!
Re “When am I going to retire”: I had planned to wait to retire until I was within COBRA range of Medicare, but just couldn’t withstand the last 10 months of corporate upheaval, so I retired in January 2022 instead of October. I’m healthy, so I thought I could make it through 10 months on an ACA health plan, for which the annual deductible is $8200. However - and here’s where waiting five months would/could have made a big difference- I hadn’t realized that my timing meant I was on the hook for the full annual deductible for three different plans in a year: the work/COBRA plan from January to July 2023, the ACA plan from August to December 2023, and the ACA new plan year January to April 2024. Had I worked through June 2022, COBRA would’ve taken me through December 2023, and I would’ve started the ACA with the plan year. It still stinks that I’d be on the hook for the full annual deductible even though I was covered for only four months, but the financial exposure was at least greatly reduced. It seems unfair that I was on the plan for only 10 months total, but because it crossed the calendar year, I was liable for the deductible times two. Luckily, I was able to forgo any medical services for the 10 months I had an ACA policy, but I unknowingly exposed myself to some big potential expenses. Editorial comment: it really should have been called the AIA - Affordable Insurance Act. The policy was indeed affordable (to me, thanks to all of us taxpayers who paid the insurance company over $600/mo), but any actual medical care was not affordable.
Yes, we really have been duped as a people. Everyone yelled about affordable healthcare- bull. What we have is a joke. We have been sold insurance not healthcare and going through the government has taken our voice out of the equation- we have no say. Actual healthcare is mostly bad but the bills are real for sure and, the worst part, many health services you need are not fully covered or not covered at all in what you pay!
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I'm retired and did so at age 42 with about $1.1M for two people. We had an advisor from Morgan Stanley in our corner. Maxed 401k for many years and then saved additional in index funds in taxable account. Our rate of return has been around 10% percent per year in the taxable account over the last 10 years.
I grew up in a cash only savings environment and a mother who has a small 401k saving. I’m just now learning about the stock market creeping towards 30 so I would appreciate more information about your advisor.
I have Fidelity and they offer financial advisors...met with them and I was already in line with my investment choices like above, and followed the flow chart....Have my Roths, IRA, Brokerage, and 401K.
I will go back soon to discuss rollovers to from IRA to Roth.
@@fredgreene9354 I want to go stocks but have no idea how to start, will really use some recommendations
@@cobbsruff8732 L00kup Linda Jean Edral for a guide, she's unique
@@cobbsruff8732 Wow I have been speaking to a couple of advisor and I would love to check out this Linda Jean Edral. I just don’t have it in me to do the reading about all this. It would be a huge relief to offload that set of tasks.
Mom gone @ 63, Dad @ 68, sister @45, step brother @ 53, collecting @ 62!! Tomorrow is not guaranteed!!!! A bird in the hand is better than 2 in the bush!!
Wow, they left so young. May you buck that trend and live to your 90's.
Re “When am I going to retire”: I had planned to wait to retire until I was within COBRA range of Medicare, but just couldn’t withstand the last 10 months of corporate upheaval, so I retired in January 2022 instead of October. I’m healthy, so I thought I could make it through 10 months on an ACA health plan, for which the annual deductible is $8200. However - and here’s where waiting five months would/could have made a big difference- I hadn’t realized that my timing meant I was on the hook for the full annual deductible for three different plans in a year: the work/COBRA plan from January to July 2023, the ACA plan from August to December 2023, and the ACA new plan year January to April 2024. Had I worked through June 2022, COBRA would’ve taken me through December 2023, and I would’ve started the ACA with the plan year. It still stinks that I’d be on the hook for the full annual deductible even though I was covered for only four months, but the financial exposure was at least greatly reduced. It seems unfair that I was on the plan for only 10 months total, but because it crossed the calendar year, I was liable for the deductible times two. Luckily, I was able to forgo any medical services for the 10 months I had an ACA policy, but I unknowingly exposed myself to some big potential expenses.
Editorial comment: it really should have been called the AIA - Affordable Insurance Act. The policy was indeed affordable (to me, thanks to all of us taxpayers who paid the insurance company over $600/mo), but any actual medical care was not affordable.
Yes, we really have been duped as a people. Everyone yelled about affordable healthcare- bull. What we have is a joke. We have been sold insurance not healthcare and going through the government has taken our voice out of the equation- we have no say. Actual healthcare is mostly bad but the bills are real for sure and, the worst part, many health services you need are not fully covered or not covered at all in what you pay!
Good content. Thank you.