I'm a single, 43-year-old father who resides in Hamburg. If everything continues to go well for me, I intend to retire at age 50. I couldn't be happier right now than I am that I just bought my first house last month. I'm so happy that I made wise choices that altered my life forever.
Salutations, dude. At your age, you're doing extremely well. I'm 54 years old, and right now my finances are a mess. Any helpful advice would be greatly appreciated in helping to mold my life. I want to buy a home of my own.
It seems like I used the FIRE movement to manage my finances. Investigate it further by doing some research. With the help of a financial professional, they were then successful when investing in stocks, cryptocurrencies, and real estate.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
My Financial adviser is ‘’'Natalie Lynn Fisk ’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
Considering the increased complexity since the 2008 crash and COVID, I suggest diversifying your financial portfolio. I hired an advisor and successfully grew my portfolio by over $150K during this turbulent market using defensive strategies that protect and profit from market fluctuations.
@@maryHenokNft Kindly share the details for reaching your advisor. With inflation negatively affecting my funds, I'm in search of a more lucrative investment strategy to optimize their performance.
Much credit goes to *Camille Alicia Garcia* for her significant contributions. She maintains an online presence, making it easy to locate her. While other advisors might pose challenges to find, Julia has proven to be an excellent mentor throughout the year.
I appreciate the information. I did my own research, and your advisor seems to possess a great deal of expertise and knowledge. I've reached out to her via email and scheduled a phone call. I'm impressed by her expertise, and I'm looking forward to our discussion.
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
@@Nernst96 this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
I’d pay off my mortgage as soon as I could. In effect by removing the payments to the mortgage, you’re increasing your income. That extra money could go into investments so it would potentially start compounding. Also when you retire you’ll probably be on a fixed lower monthly income, so all debt needs to be eliminated. The only reason that I would consider not paying off the mortgage is if I plan on selling the house when I retire, but don’t be surprised if the cost of a smaller house costs a lot more than you expect.
I did "look around" and I don't see a recession. US 3rd quarter GDP growth was 5.2% while unemployment has been below 4% since February of 2022. Do you even know what a recession is or are you living in the MAGA bizarro world where up is down and criminals are "patriots"?
I wonder if people that experienced the 2008 crash had it easier because this market conditions are driving me to insanity, my portfolio has lost over $27000 this nov. alone my profits are tanking and I'm don't see my retirement turning out well when I can't even grow my stagnant reserve
Even in this whirlwind, there are chances to be had, thus an increase in volatility is not always a bad thing. You have an opportunity to rebalance thanks to volatility. In order to help you diversify your portfolio, you must hire a financial counselor or broker.
I'll suggest you create a diversification strategy because building a good financial-portfolio has been more complex since covid. Recently my colleague advised me to hire an advisor, surprisingly I have accrued over $120K under the guidance of my coach during this crash. She figured out Defensive strategies to protect my portfolio and make profit from this roller coaster market.
I’m new to all this, heard it's a good time to buy and basically I've just got cash sitting duck in the bank and I’d really love to put it to good use seeing how inflation is at an all time-high, who is this coach that guides you, mind I look them up
Catherine Morrison Evans’ is my portfolio-coach, I found her on Bloomberg where she was featured, I looked up her name on the internet. Fortunately I came across her site and reached out to her, you can verify her yourself.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Well I definitely agree with that or I can certainly say that the minimalism that would get you through today probably wouldn't work tomorrow even an extreme amount of minimalist today at some point your luck is going to run out. And I'm not saying that it's pointless to try I need to be honest it's better to do that tonight do that but I will say that you know there were those who lived extremely minimalistic even back in the 80s but you know they had to rethink and they had to plan accordingly by the time the mid-90s showed up so that's what I'm saying is 5 years from now 10 years from now you're going to have to go even more of an holistic the problem is it what point do you arrive at a plateau to where there's no lower to go?
@@government_costumes-ui5lx My situation may be somewhat different. I learned minimalism when I was divorced raped in 2012 and forced to live in an ancient 24' motorhome. I was able to financially recover from it (and the ensuing bankruptcy), but minimalism never left me. What has allowed my minimalism to be so successful is that after the divorce rape I cut women out of life totally. I was making good money prior to 2012 but it was never enough. After 2012 I discovered I could live like a king on 1/4 of my previous income. I eat very well and have become a very good cook. I forget the last time I sat down in a restaurant. It doesn't take much for a man to be happy. I spend too much on my satellite TV and internet but considering where I live, I don't have another option. I spend less than 1/3 of my yearly income. I own my home outright. I still drive a 2004 Lincoln town car even though I could pay cash for most any vehicle I want. Being totally debt free is priceless and that is the goal of minimalism. Most people today are in debt up to their eyeballs and the coming economic crisis will devastate them. I will be just fine living a carefree minimalist lifestyle. Cheers to you.
I took an early retirement in 2014.. Ive gotta get back in the workforce and it looks like Im one of those that will be working til I die!! 😳😳 Its a good thing I have a trade and that helps big time!!
Even if you get a piece of property and pay it off you still have to pay rent to the state. Many places don't allow you to raise crops and animals to be self sufficient. You can't even hunt your own property without paying state license fees and being restricted on what and when. As income ebbs and government gets more greedy if your a prepper the most you can do is buy a little more time. We are in deep trouble......
Back in the 90s, I had 22 acres in Montana with a stream running through it backed up against BLM... My annual property tax was $28/yr. Now that was nice.
In a SHTF scenario, you're highly unlikely to get busted for hunting on your own property without a license, even where one is required. Also, consider purchasing a .22 caliber or larger air rifle for taking small game. Not only is the cost of ammunition lower, but they are very quiet compared to a firearm and you're much less likely to be heard, either by government agents or hungry people.
I figure I'm ahead in the game. I am now, and have been for quite some time living on the low end of things. Not so far to fall in a collapse. Keep breathin'.
It sucks to get old and now I get why the elite are trying to find ways to live forever. The work works uses you up during your working years and chews and spits you out at retirement while society forgets about them too. It’s a scary thought actually when I think about it all
The elite created the term 'teenager' (think new ager) & then made the culture worship the young by the commercialism aimed at them. Since the early '60s! Look how many men/women you see in public w/dyed hair. Nip tuck. Orange tan in a can. Makeup pasted on w/a trowel. Clear in their 80s!
@@donaldcrawfordiii554 You are paying attention to the dollars demise & going full digital? No transfer or carry over of your present wealth. Pensions & SS will be vanished.
@@donaldcrawfordiii554 my mom is too but she still wants to work even though she retired from her nursing career and she is 75! She doesn’t want to stop working
But you may be required to murder innocent people in their own countries for private corporate profiteers... it's a sell your soul to devil kind of bargain. Nah!
That's not something that can really be done anymore. I knew an O-4 that was coming up on his O-5 and 20 years. He took the mRNA gene therapies the military was requiring and went from P.T. Stud to invalid in just a few short months. Military service is no longer a good option.
@@government_costumes-ui5lxAs a retired combat Marine with 21 years of service, I will try to be nice, although it is against my training and nature! While you were sitting on your coach drinking beers, doing drugs, eating junk food, watching reruns of "Hee Haw," and chasing women. Some of us were dodging bullets and mortar rounds in the jungles, deserts and towns. Some of us even received medals for our service to the government. Instead of being a "Troll," show some respect to those that sacrificed for your right to be a "Troll."
To young people: Learn from older people who are struggling if you can. Many will be reluctant because they may feel embarrassed to talk about their situation, but if you can find some who will talk about what “went wrong” it will be invaluable.
What went wrong? Inflation according to the best economists is really 17-25% now each year since 2020. Your retirement "savings and investments" have been devalued by over 50% since 2020. Thank your central bank for debasing the currency you worked for all your life at warp seed. Retirement is another thing a middle class person now can not afford. Try saving 2M on the average wage as a single person. After taxes, you can barely survive.. and this is the average wage paid.
what "went wrong" People voted for Democrats. Let a Dem touch it and they will Eff it up...There isn't a single city that has been successfully run by a Dem, but yet people keep voting for them with the promise of stuff and this is what happens.
The price of things today is insane. A 7 ounce bag of potato chips at Target is $4.29. This should cost $1.49. Eggs at a restaurant is $17.00 this should cost $2.98. Then there's McRipoff's prices. These places used to sell cheap affordable food. Now they call themselves restaurants with $14 combos
The game is over, soon, we will have to do horrible things to survive. The Elderly and the sickly will probably be the first to go the moment welfare and social security turns off.
Many of us boomers never thought that jobs and money would ever stop rolling in. In the 60s, jobs were easy to get and the cost of living was cheap. Madison Avenue saw that too and came after the boomer, selling us cars that needed to be replaced when the next year model came out. Clothes suddenly had to be changed every season and every year. Naturally every year you had to take a vacation with the family to Disneyland or yake a cruise. The the movies came out telling you to buy a $200 cowboy hat and $500 cowboy boots, disco came out and you went dancing in your white suit like Johnny Revolta. Then ccame the pickup trucks that never carried a load or drove off road. At 40 you were in that stage in life when you probably had more days behind you than you had left but you kept living like the money would never stop, and it did and now the only money not stopping is your payments on the thousands owed on your credit cards.
Well that's correct I mean I've been watching the shit I was a kid to say that yeah you're right most these people really fucked himself I say it on this channel all the time but the middle class for the most part screwed themselves there are certain things that the government and or politicians as a whole has definitely screwed up but for the most part when it comes to personal and financial decision the politicians have nothing to do with the middle class decided most of this garbage they screwed themselves yet they're always looking for someone to blame it doesn't matter if they're going to blame the politician or point the finger at the food stamp card holder they're going to blame somebody that it turns out they're not the Pinnacle of taking responsibility like they always want to lecture others and for the most part especially in the past 15 years I've watched most of these people do nothing but lecture other people and virtue signal about taking responsibility as a means of them covered for the fact that they don't practice what they preach. If you want to know why the class is seemingly in trouble versus 20 years ago when even back then it was screamed that they were under attack and they were going away it simply because of the shit decisions that they have made and the situation to where people are buying their bullshit so much anymore frankly they've become a bit of a laughing stock. As prices go up common folk below the middle class or just barely into the middle class well any status that they have gained they're going to lose going to get knocked down a notch or two to write back to where they were meaning they haven't really needed progress they're going to feel that all the sudden they're motivation goes away when most common jobs cannot pay the bills then it's pretty much most people if not the vast majority of people are simply priced out of even the shittiest of basics there's no motivation the middle class does not respond well to this largely because as the problems it gets closer and closer to that that all the sudden their income doesn't mean as much as it used to so they start feeling squeeze but even before they start feeling the squeeze they'll scream and holler then it's definitely coming for that which it really is but of course frankly people are sick to death they're tired of hearing the endless rambling about the middle class. So I say the middle class is going away for different reasons a lot of it happens to be on the home front of they made their own bad financial decisions keeping up with the Joneses the second main reason is simply because they're useful idiots to the cyst their status of middle class is overhyped because it serves as a political platform for idiotic politicians that's really what it's meant to do that's what it's been distilled down into these people are not the middle class that the baby boomers parents grandparents was what made those folks middle class was simply they were saved response these were people that could write a budget and actually stick to it. Furthermore those older generations understood the value of products when we're talking about baby boogers well you get into the late 70s early 80s these folks by that time were in their early to mid 30s they by that time had a pretty serious job they were making some decent money they weren't doing too bad right well it kind of went to their head in many respects and it became that they got stupid when it came to shopping they didn't practice and dabble in the art of thrift in fact they made fun of thrifty people the retailers convinced that it was convenient to just shut the fuck up and pay the price never mind what product is actually worth just shut up and pay the price because of the brand name or because you need that item now honestly that accounts for a lot of the inflation in the retail market I know because well I myself have 20 plus years business management experience in retail and I can certainly tell you that that's right about 50% of the price that you pay the cash register is literally made up inflation if you study retail then you'll stumble across the information that I have and that is simply that yes shopping habits had changed in the late seventies going into the 80s and most of it was the consumer got stupider they didn't know what the value of things were and frankly even if they did they bluntly ignored it they did not care they just wanted to pay the money and they sold this concept to the boomers and elder gen xers as convenience it was all about convenience and the minute that they were able to do that the consumer no longer was able to keep the retailers in check they lost control. Here's the deal it doesn't just affect that affects everybody you know 40 years of this shit going on to say the least give or take a couple of years that screws everybody everybody wonders why you get out of the dollar store and you look for a cheap ass pair of headphones all the sudden those cost five to ten dollars whereas not long ago you could have went in there and bought the same set for a dollar to $3 you could have bought the real cheap ass headphones with the metal headband and everything for literally 98 cents at one point now granted that's been a very long time ago but still those headphones disappeared they came out with ones that looked beefier even though they're just as shitty and cheap and they jacked up the price people wonder why that happens well people don't bother to understand how anything is made people don't bother to understand what really goes into shit they just mindlessly pay the price they feed the machine! Except for the most part I can certainly say that yeah these people did it to themselves by feeding the machine another reason is simply well you know they've lost a lot of credibility they constantly want to bitch and lecture others and virtually signal particularly about her death and even though I can remember a time back the 90s where most of the throughout the concept of work ethic they told the truth and the truth was simply the only real reason they continuously is because well not only do they have bills to pay for the job actually pays for bills I remember 25 years ago people including School teachers talked about how if it didn't cover their monthly expenses they wouldn't bother well nowadays we're seeing that we're seeing a lot of people a lot of different parts of life and a lot of different professions across a lot of different industries basically say screw it I'll take my chances on the road on the street or out in the woods but of course they're frowned upon for doing so even though everybody at one point 20 to 25 years ago openly admit that that's how it really works!
Times are different now aren't they? You see you gotta understand that things are gonna change because they've already been prophesied. The days that you remember are long gone and will never come back. You see that everything has become alot more serious and the pressure has been going up. Why? Because God's time is getting closer. I just hope you're here to witness it.
Having parents who are retired and who are over the age of 65 years old I can be a real eye-opener. Things that my parents could do financially 30 years ago they can't do now. Both my parents had to really downsize their life . Small apartment, got rid of 75 % of their clothes, no longer has cable, after 51 years they got rid of their home phone number. I have witnessed how much their own life has changed.
This is so sad. And very few people in the mainstream are talking about this. Anyone on fixed income moving forward for the next decade and a half will suffer bitterly
I PRAY for those in their 20s, 30s, 40s, 50s,....especially with this looming pre depression status and social security PENSIONS changing in the next 1 0 years!...Then there is AI (artificial intelligence), closing of various stores, companies, financial institutions, changes with the medical establishment, housing and rents increasing, water, property taxes, repairs, electricity, food, gas, daycare, various insurances (housing, Auto, life, health, dental, etc)....
@tammypaige5468, ......BUT at least your parents were smart enough to see the need to adjust and downsize!...I too, retired from State service with full benefits and social security, etc...but I downsized my life since the 2008 recession and also due to a near fatal car accident with a drunk driver 13 years ago!....It's just myself and my 4 year old Pomeranian dog, ...I'M blessed to live simple but nice, peace of mind, healthy/no meds or illnesses, eat a flexible vegetarian way of eating, exercise, light weights, squats, walk 7 days a week, I decluttered in 2020, 2021 during the pandemic and replenished, ...So I really need NOTHING!..I too, live in a large Apartment but a small well maintained complex with a pool, ...I'M more peaceful, spiritual, healthy, sleep better, happy, and able to adjust better to this pre depression status were headed for!!
Good for them! The older you get, the more you understand what really matters. Ever wonder why telemarketers hang up on you if you tell them you're over 55? Because you're no longer an idiot buying every new shiny object. You are realizing the folly in that. I'm 74 and I got rid of my Voip "landline" at age 60. As far as cable - I have a modem for the Internet and I just get independent news now... who needs fake MSM news? Everything is available on the Internet. I have a 2 b/2 b house but I don't use half of it. Possessions weigh you down. Get rid of them while you still can!
Too much debt, new cars and big homes is why many people cant afford retirement. The Gov pushes the idea you have to work till you die. They need taxpayers, not people on SS.
YeS, and weigh 180.lbs and say I'm hungry 😢 Put yourself on a diet cause now it's called involuntary for some their stomachs are big as whales and need to stop over consuming 🤬
Yes I put food and meds on my credit card because foodstamps only give me 25 dollars a month when I am Medicare and after my rent i have 300 dollars to pay bills with out of my check I get once a month 300 dollars don't go far for food and pay for phone and meds and doctors and everything thing else so I have use credit card so I lucky if I have any money after paying on credit card bill food and get water to drink and pay for meds and doctor co pays and lights and everything
Yes, that’s true, but the days are coming fast when their means won’t be enough to cover their needs. And for those that aren’t saving and investing now, it’s going to be a hard time, very hard.
Actually I think it's not that they live above their means... they sadly live just AT their means and so they fail to accumulate wealth that they could have at age 50 with understanding and self-discipline. It's easy when you're 26 to imagine that you'll never live long enough to reach 50 or 60 or 70... but many people do and it really creeps up on you fast!
@@Kinkle_Z that’s really true, I remember thinking when I was in my mid 20’s, “I have plenty of time to start saving for retirement”, and it’s unbelievable how fast time goes. Now that I’m almost 70, I can’t figure out how I got here so fast. Fortunately, I ended up making a lot of money in my career, or we’d be in the same dismal boat as most other seniors. Thank The Lord we aren’t in the shape so many are!
I learned how to save money from my father. He used to fill up mason jars with all kind of coins. When he passed; we found about 15 mason jars full of coins in his bed room. In 2010 I lost my job and all I had was jars was have been saving with since 2003. I saved up to 1,8000. That was enough to pay rent for three mounts and pay electric bill. We were living in a total electric apartment. What ever you can save; save it. Even if you have to eat least and wear old clothes.
Unfortunately that's_what_Biden_economics_has brought us. We'll have to do what we have to, to survive but it's a real shame that we're going off a cliff as far as standard of living and the next generation is going to have it worse. The working young today are going to be crushed with the taxes needed to pay the interest on our still ballooning debt while trying to survive the unstoppable inflation they'll have to face at each turn.
Sometimes old clothes never go out of style, saw a real good looking kid at target today, old clothes, ripped tee, but had the longest shiniest clean healthy hair, almost looked like a model, don't have to have dry cleaned clothes on, poor but clean and hsppy😅
@@Shadow_Banned_Conservative It's like retirement and the entire economic system is a pyramid scheme. That's what happens when you allow government to print money through a bank. All of society is screwed.
True. The earlier the better. I started late but am surprised how well a lifestyle change has worked. Unfortunately it is getting increasingly harder as inflation is earing up would be savings.
The truth is, no matter how frugal we are, there is no such thing as a sure thing. After 9/11, many older workers at companies like United Airlines were offered early retirement packages and were told that if they put in 20 years with the company, they would have a guaranteed pension of around $3,000 per month for life and many such workers accepted the deal. But then United filed for bankruptcy and that meant that these retirees lost as much as a third of their pensions which forced them to go back to work and/or make many changes in their lifestyles. Or what about the people who used to work for companies like Enron and Worldcomm? We can't prepare for something we don't see coming.
@@stormyskyz7881 United was refused a federal loan guarantee in the wake of the 9/11 attacks which is why it filed for bankruptcy in 2002. Because of the shutdown following those attacks, United lost over $2 billion so it was hurting financially. As part of its reorganization, United was allowed to default on its pension obligations which is why I say that many times people get into financial difficulties through no fault of their own.
With my portfolio of $750k. I’m looking for opportunities to profit in a potential downturn, According to rating agency Moody’s, both the UK and the US are set to fall into a recession because of higher interest rates.
An obvious way to invest for a recession is to buy shares in businesses that are likely to experience steady demand even in a downturn. Typically, those are consumer staples, utilities, and healthcare companies, but off course such decisions cannot be made by an average Joe, a financial advisr is important in making this decisions
I agree Such considerations can certainly have a role when I think about whether I ought to buy into a share. But I never purchase purely on that basis, i always have to seek the advice of my financial planner who has helped me gain $985k in a well-diversified portfolio that has experienced exponential growth
my advisor is "Colleen Rose Mccaffery" she's highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial
This video is a lot of fear-mongering. I am 67 years old, retired for several years now, with no income except Social Security, and I am doing just fine. Of course my lifestyle is a lot simpler than when I was working - for one thing, I haven't owned a car for years (which means I don't give a flying flip about the cost of gas. Hey, I don't even have to spend $20 every four years to get my stupid drivers license renewed! I just let it expire in 2018 and never bothered to get another one.) Also, I used to eat out all the time and now I never do, except for maybe buying a hotdog or a slice of pizza or something like that. Mostly I eat at home and it's usually something simple like rice with eggs or fish. But I love that so it's not a hardship at all. Yesterday my Social Security payment came in and I celebrated by spending $140 on books and another $140 on other hobby stuff. Life is good. I love this channel and watch it every day - but don't believe everything it says.
I haved tried to go back to work to support my social security. It was the worst experience of my life. I cannot survive under the conditions we are presented with in this time,
@the honorable: I've saved a little from grocery money, birthday gift money, tax return money for 30 years. Little bits of money over a long period can grow. Just get started. Best wishes.
ABSOLUTELY CORRECT ! We are retirees, having worked all our lives and contributed to Social Security. NOW, we are faced with "running on empty", as our COMBINED pension checks WON'T pay our bills & expenses ! This is a RECENT event - up to the COVID epidemic, we were covering all our costs, and even saving $$$ every month. NO MORE SAVINGS NOW ! We cringe when we think about unexpected repairs/ replacements that would put us back into DEBT with our credit cards !
Some of it poor planning. Poor financial management. Living beyond means. You can’t expect to work at a factory pulling a lever thinking that job will last forever. Billy Bob invest some money into yourself and have a backup plan instead of a new truck and a pool in the backyard. Then you see go fund me requests going up. Sometimes I want to say, go fund yourself.
The crux of the problem is that wages have not allowed 2-3 generations (the last 50 years) to have money left over to invest in retirement savings vehicles. They must spend all of their money to provide shelter, food and clothes with little more left over for discretionary spending. After ERISA was enacted (David Hoffman I Want To Retire I Can't Here's Why), the companies said, "heck with this regulation, we can't keep this up, we'll shift the burden on the companies to the workers". Thus was the shift to 401Ks, IRAs, etc... The government was trying to prevent companies from declaring bankruptcy and absolving their responsibilities to their pension plans and making the employee take the responsibility. Well, this presentation is a summation of how that worked out for Americans. The US and the has a huge future problem. Nuff Said.
Well I myself definitely more concur with this simply because you know look the price is gone up but it's true the wages don't really match I mean it's like for the past 7 years everybody's threw a big fit about the proverbial $15 an hour but here's the deal the vast majority never get paid that proverbial $15 an hour the employer is going to come up with every fucking reasons as a means of not paying you the advertised wage so most people decide it's not really worth your time and for the most part they're correct but there are those who believe that they should just shut the fuck up and take the job for the sake of having a job first I've noticed the vast majority of people are usually making in the neighborhood of 40 to 65,000 a year and generally don't have a care. So a lot of the problem in society is simply you have those that are on the better side of life doing here's the deal they're becoming very very ignored rightfully so simply because they're out of touch if they do bring up a time where they live paycheck to paycheck it's always some wo Horseshit about 35-40 years ago it's irrelevant to today's world. The one I always found hilarious was the old retired person going to tell me who's hiring that they're so convinced that this place or that place is hiring even though they themselves haven't been involved in the job market for what 5 to 25 years what the hell did they have what I also find hilarious is the people that are in a job but are not in the job market they also claim to know who's hiring and by the way it's never their workplace!
I think you described the future very well: Just a little advice for you younger people. I'm an old guy and have gone through a lot of depressing times. Start thinking about how you can save money: Quit eating out, buy some of your clothes and shoes, etc. at used clothing stores, quit taking long expensive vacations, and buy used dependable cars like Toyota Corollas. Start saving money at a bank that will pay you interest if you can. It's just a start. You will get better than me once you think it out a little.
Retirement is an important phase in one's life where individuals can enjoy their golden years and focus on their personal interests and well-being. It is a time to relax, pursue hobbies, spend time with loved ones, and reflect on a lifetime of work. Planning for retirement is crucial to ensure a comfortable and secure future, both financially and emotionally. Start saving early, explore investment options, and seek professional advice to make the most of your retirement years. Remember, it's never too early or too late to plan for retirement.
Congrats. The true financial unlock comes when you understand and know the technique required to manage your investment's overall risk profile and avoid permanent capital loss. It is critical to have a strategy in place to capitalize on profits when they occur.
@@susanlisa3782 If you don't want to crash and burn, you should seek the advice of a fiduciary counselor when you first start out. Because their entire skill set is based on going long and short at the same time, they employ a profit-driven strategy based on individual risk tolerance.
@@leonardives1991 Fiduciary-counselors have exclusive information and data paths that are not available to the general public. Under the direction of my Fiduciary-counselor "Mayra Femia Hetrick" I made over $560k between Q3 and Q4 of 2022. I'm hoping for more
My property tax went up an extra $500 a month.. Government really thinks people are not struggling out here. I'm putting the rest of my money into Bitcoin and XRP!
doing the math back in 2005 when I 28, I needed 2.5 Million by the time I retired to live comfortably. This was before losing my a#$ in 08. We are screwed.
My ex-husband did the same thing when we were married. He figured that we each needed $3 million to retire 'comfortably'. I'm not sure what his criteria for "comfortable" was but $3 million wouldn't have been nearly enough for him. He was never happy. If you're 46, I hope you had kids at some point because life is all about grandkids. If you're a woman, that ship has sailed but if you're a man, you may still be able to pull it off. Good luck! 🙂👍
Some 81 year olds are in pretty good shape. Many men don't do well when they retire unless they have lots of hobbies and a big social network, which they usually don't. Their drive has to be channeled into something. Many end up going back to work. But these days he likely had to.
@@sidsnyder8043 Makes me wonder why the WALTONS, who own HALF THE WEALTH in the US, pay so little that their employees are eligible for taxpayer supplied FOOD STAMPS. It's the Waltons who should be SHAMED... not poor people who can't find a job and have fallen justifiably into complete DESPAIR!
That is why it is called the American dream. Enjoying your life is a dream. Your are breed to the plow and do someone else's work for them your whole life instead of pursuing your own interests.
Retired expat from the US living in Thailand 5 1/2 years Everything great here- people friendly, great Partner, prices low, no inflation, weather good, great beaches, great healthcare, plenty to do and see, travel inexpensive.... Havent missed the US for a moment. If you can, check out retirement overseas . Good luck!!
Elementary my dear Watson. If the politicians sincerely cared about seniors. They would eliminate social security taxation. Or, update the decades old social security tax tables, to current inflation rates. If there is no profit to be made, politicians will drag their feet, or sit on their hands! Until, senior citizen votes are needed!
If you can start a garden you should. If you can put away a little silver you should. Put away a little food. Put away a little water. Learn a simple skill thard be marketable (filling lighters, making fuels, scavenging metals, making clothing, etc).
@@princessunicorn669 Those answers are really pathetic though some can help. Instead choose to get good at DIY to slash your home and vehicle maintenance overhead. Have zero frivolous interests. Gardening is fine though and Victory Gardens are ample proof. Precious metals don't bear interest but people like them because they're tangible. The taps are not going to "stop" short of nuclear war and if you're in a city you're SOL. If in the country the wise are on well water and know how to maintain their wells.
US has been living far above it means for decades. Eventually bills comes due. And things will get worse, a lot worse. Between politicians spending like there is no tomorrow and dollar losing it status of global currency, things will get a lot worse.
Here's what it boils down to it will get much worse for the working class and the people that were middle class that are pushed down into poverty now The Uber rich they have all the money it will not affect them at all. It's been said it's the greatest wealth transfer in history and unfortunately it's not on our side.
Well I would say that the vast majority of the middle class group themselves by buying too much house too much car and maintaining a multiple credit cards. Of course I can also argue that most of these people who identified as the middle class never really the class to begin with they just looked and act the part through lines of credit take away the credit and they're not shit! So the billionaire class didn't exactly show up their front yard and decide to shit on their porch was more so they made a series of shitty decisions that caused them to fail and here we are 15 years later and they still won't commit that it was their fault.
@@rogerhoke3103 _The Uber rich they have all the money it will not affect them at all._ Not the money, as dollar will lose most of it value. Rich have resources. They have stocks, they have deeds, they have bonds, they have property, etc. This is one of the reasons why they pay disproportionately less taxes. Only tiny portion of their wealth is in actual money. _It's been said it's the greatest wealth transfer in history and unfortunately it's not on our side._ It is a bit of everything and wealth transfer is one of those factors. Rich did not syphon off all this wealth, most of it was not there to begin with.
I knew in my early 20's I was going to be working until the end of my life. Anyone that thinks otherwise is either making a LOT of money or they're kidding themselves.
Making a lot of money won't necessarily save you. I've made a six-figure income for more than 25 years but everything I've saved and invested could be wiped out tomorrow. I could wind up the same as someone who never saved a thing in their life. Since my early 20s I worked, saved, sacrificed at my higher income to set myself up for early retirement at 55. I'm 52 now and I'm expecting to lose everything in the coming depression and end up working until the day I die.
@@Shadow_Banned_Conservativeif you made 6 figures over 25 years, and don't have anything to show for, you seriously mismanaged your money. Maybe you shouldn't have gambled it all, oh sorry I meant "invest". That implies the gamble was somehow virtuous
@@chrism8180 Where did I say I have nothing to show for it? I said I could be wiped out. You do realize that a depression can wipe out just about anyone and everyone, right? I don't see us having a recession like the one that hit us in 2008. I'm thinking 1930s style depression that's world-wide, where we have soup lines and 2/3 of the population doesn't have a job. Back then the government stimulated the economy through infrastructure projects to get us out. We don't have the money to borrow this time around though to finance a recovery. Even owning a lot of property can't save you in a depression. The government can just levy taxes on you that you can't pay and then they'll seize your property. The governments around the world are looking for new and increased revenue streams due to their spending in the lockdown. In fact, my property taxes went up 20% this year and we were told to be ready for another 20% next year or the county will have some hard times going forward. Now that the government handouts are drying up, all that spending from 2020 until now has just created new obligations for your local governments to have to maintain. You think inflation is bad now, just wait.
Not true, I have close to 2 million in assets and no debt and have averaged only 40 K a year as a construction worker. I saved , did without, drove old cars , and took very few vacations, worked all the overtime I could sometimes having 2 jobs. I sacrificed for years to have enough for retirement. It can be done, but your have to have a goal and stick to it. Too many people want big homes and new cars.
Not if you're capable and smart. We all die so I will not excessively prolong my old age. I'm at peace with the world and after my first heart attack know I do not fear death (though pain gets my attention).
I divorced, finished raising my four kids, and then left a 100k-a-year job. I just retired at 62, with no retirement savings of any kind, but I was willing to move, cut my expenses in half and live simply. I now have $400 a month for my hobbies and am very happy. You can do it too, but you need to be willing to live a very simple life and stop being a bank slave. Good luck.
I'm seeing a large increase of elderly people (60 years old+) working as cashiers at grocery stores, department stores, hardware stores, etc. It's like no young people want to work. There are always help wanted signs on entrances to stores and resraurants. Are all the young employable people living at home with mom and dad?
That, or young people just started getting better jobs and engage in the growing (though poorly paying) gig economy. It's also questionable how often those help wanted signs are even real anymore. Stores and restaurants have been getting by on skeleton crews and, at least in the short term, customers have kept coming despite worse service. So if you're a businessman who, like many, is only thinking about the near term, why actually hire more people? Just put the sign up so customers *think* you are trying to hire more people to give them better service, and you get the best of both worlds (in the short-term).
No it's the stores don't pay shit, I know I'm a manager and so most of the old people only need x amount and will work for it. Plus they don't want nor need a lot of hours! Then the other reason in many places is simply the management is older and so that's who they prefer to hire! This forcing the young out! Oh by the way the help wanted signs don't mean anything given they've been there for over a decade simply because the government paid them to put them up via the work opportunity tax credit! Most places aren't actually hiring and when they do it's for extreme part time which there again is what the old people are!
Well the concept of most stores and restaurants running skeleton Crews actually got it start in and around 2005 there was back then a point in time where everybody young and old realized that that's what was happening and everybody was bitching about it. But then you ended up with the post 2008 anti millennial propaganda coupled with the rise of the work ethic propaganda and the public with short-term memory problems immediately said that those were the issues they forgot that just three years prior all of your retailers restaurants etc had decided to cut staff and had no intentions of hiring anymore. Of course what made the blues for memory was the appearance of help wanted signs all over the place but everyone was completely stupid and never bothered to look into why this help wanted signs appeared and it was simply because the government paid these assholes to stick these signs up via the work opportunity tax credit. Basically how it works is you hire someone and if you work them for $120 hours then you receive a 25% tax credit if you work them for $400 hours you receive a 40% tax credit if you work the longer there's even more money to be had the problem with this program.... Is simply no employer pursues anything above the 25% tax credit and the reason that is that way is simply because there is no limits on how many people they can hire and fire in a given day week month or year. So what that translates into is simply they hire a large group of people than when those people get to about 80 hours into the job they hire in another large group of people behind them then when those folks get their hundred and twenty hours in they get rid of the first group bring the other group in then they're hiring another group right behind them. Basically this goes on until they run out of people that have given area to hire and the reason they run out of people to hire is because most companies the shitty ordeal where when you're 120 hours was that they would stamp you unrehireable. They did that because you can only collect the tax credit off a person once. So basically what happened and technically it still goes off this day is that the government through this program had basically insured that every job is nothing more than temporary job I've seen employers literally make up jobs just to collect the fucking tax credit. Of course insult injury added to the situation is simply oh yeah the temp services are eligible for this and by the way they are if not pursuit of the work opportunity tax credit! Of course last decade it was also used as propaganda to feed the public particularly the older variety of the public. Because it was a common dick wag that aunt and uncle if not Grandma and Grandpa whoever would drive around town and then they would talk about driving around town and all they see is help wanted signs I don't know how many times I've heard that shit being rattled off. So they think because there's a help wanted signs that these places are actually hiring they're really not the people that they're willing to take on are those that they have designated to a temporary position so they can pick up a fucking tax credit other than that there is no guaranteed full-time job unless of course a full-time person quits. And even then you'll find yourself working full time hours but there's not exactly a full-time position there they'll dangle it in front of you but in reality there's no guarantee. So that's another topic everybody wants to Dick wag about the supposed gig economy and the supposed Lopez it comes with the gig economy like assure you that the past 3 years most of those that were working in the gig economy they were making bank it's true there has been a pullback there has been a bit of a downturn but some of that is that market got flooded I remember being subscribed to a couple of Facebook channels because I was looking into shit like doordash and instacart and I remember a lot of these guys on there talking about how they themselves were losing money because everybody in the town decided that they too were going to become a doordasher I mean people literally quit full time jobs to do this so if your market becomes flooded then yeah ultimately you don't make a lot of money. But then again that's the employment market as a education then nobody really has the edge and so then in any given profession that basically becomes flooded the wages drop. Basically they did the same thing to my old profession which was mechanic. So I have a 16 and 2001 I picked up a job and it looks One More shop I was there for 3 years my moon lighted on the side and made better money than I did at my actual full-time job which was a grueling 6 days a week and I was paid a lousy $6 an hour but I also worked on cars on the side at one point I was even a mobile mechanic. But then next thing you know everybody next thing you know everybody can do breaks the minute everybody got laid off they threw a toolbox in the back of their vehicle and they too could go make at least 26 bucks an hour if they wanted to put the time in. So as far as going back to the actual mechanics garage for a job forget it those guys aren't going to pay you shit to bust your knuckles and you're always going to be a debt to the tool Man because they refuse to buy the proper tools to get the job done. Then you had the added bonus the people were going to technical colleges and coming out they were supposed to be some of which were mechanics others were supposed to be technicians but what's funny is most of them couldn't tell me the difference between a positraction rear end and a fucking limited slip. I was 18 back in 2003 and I was appalled it what was coming out of the technical schools. So that's just it most mechanics garages are small businesses but of course there is a misnomer a bad mystique about small businesses everybody seems to think because it's a mom and pop shop they don't make them I'm not saying that every single one of them are extremely rich and of course I have owned and run my own business so I know how that goes so business is not a cash cow but I can also say that well established mechanic's garage for the most part can pay their people more than what the fuck they are. So they have a steady rotation of people and if you're going to be a mechanic particularly anywhere here in the Midwest chances are you're going to end up down at Bob's garage Bob's not going to pay you a lot of money this is exactly why I got out of that profession as quickly as I got into it. So it became that they were pulling people off the street and training them well enough to do oil changes brake jobs shit like that but those of us that were handling the more serious work we saw virtually no more money and then you had the guys coming out of technical college with their useless degrees and in some shops they would get the title of technician they would get a little more money but then we would quickly find out they don't know they're asking meanwhile those of us that actually know that can literally do the job we weren't paid we weren't promoted we weren't shit. Frankly this has been going on most professions so I think a good portion of what you have today is not people being lazy it's simply they've done math if they're not going to be any better off financially by going the extra mile then really it's costing them time and money to go the extra mile in other words if you do extra work at work you're basically screwing yourself out of money because the employer is not going to pay you double the wage per hour for dump work they're going to pay you the single rate and expect double work because you fucked up and did it once or twice. Those environments are literally every job I'm a manager and I can tell you that I basically advise people to not really do any more than they really have to do. And I advised him on this simply because well I don't own the place but I've been around the block more than wants to know that you don't volunteer for anything and if you do then basically you're really costing yourself money because your time is valuable!
When you retire no matter what you think is enough it isn’t. No matter how much you prep and stock your pantry it’s never gonna be enough. Just do as much as you can, keep working it keeps you healthy keeps you motivated and moving. Try to sit down as little as you can move, move as much as possible, exercise every chance you can as much as you can like your life depends on it! Work out best you can a little every day no matter what…Make it a habit!
I retired with only a $40K nest egg and a Social Security check in 2013 at age 63. The nest egg is now at $70K and I'm able to stash $1K/month from my SSA check. AND... I spent 3 months in Europe having a blast, no holes barred. I've never been richer! Don't let Wall St scare you into thinking you have to have 1/2 million in the bank to even consider retiring. That's BS. They just want a cut of your savings! Here's the secret: 1) Have all debt paid off, 2) Have a house deed in hand (bonus for me- I bought cash for $35K at the bottom of the market in 2010 -now zillow valued at $300K in a Prop 13 state so my prop tax never goes up!) and it's a great artsy community next to a National Park with Fresh Air and water, and 3) Have your car paid off and well-maintained. My whole life I struggled paycheck to paycheck. Once I retired - SUDDENLY I was rich and FREE and HAPPY and STABLE! You can make it happen!
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless." - Thomas Jefferson
You should be on medical disability so get with fellow vets who understand the system because many do not know how to engage it properly. reddit and vawatchdog etc are good resources. Don't pay anyone, do study HEAVILY online. Get copies of your medical records and if useful get a "buddy letter" if you need to verify a particular deployment and do not have hard copy orders. Nothing you study will be more important to getting what you earned by fulfilling your side of the contract.
THEY NEVER MENTION DISABLED, especially those who didn't expect it right as they were coming back to work post divorce or caring for family or sick family member. they only go back 5 working years, many did not get enough quarters, especially woman. So many are below poverty. Those sick enough to need home health assistants' obviously pretty sick, so they could be brilliant and talented but not knowing how they r going to feel from day to day and having bad days or weeks can only work for themselves and no programs for that. just penalties that should not apply to those who are not totally disabled. it is sickening. for all . they need to get all illegals off of they ssa, as well as getting rid of penalties period. NO ONE SHOULD BE PUNISHED WITH POVERTY IN EVENT OF MEDICAL TRAGEDY OR MIWTAKES. ederly are treated horrible in the usa. THEY JUST BORROWED FROM IT AGAIN 2 PAY UKRAINE BS WAR.
Finally.., the best narrator period is here, right here! As long as kermit narrates these videos, I will not watch or listen; his voice is like listening to someone scratch a chalk board.
COVID was a blessing and a curse. It was a blessing in that OLDER folks jumped in and filled the gaps while working from home. In work-from-home jobs employers didn't care what you looked like (agism was pushed aside), they just needed to fill some critical positions PERIOD.
Yeah but most of their motivations are pretty messed up I mean there's a fair amount of that don't actually need money but they make out like they did there's another group of them that they do need the money but it's not simply because there ain't things they could change so that they wouldn't have to work they just refused to change and then there is an even smaller percentage that does actually authentically need the money. But the vast majority of it's not really that they want to work it's they want to go there and constantly get patented on the back for work it's become fashionable for them to have a job for them to make a big deal about how old they are and they're still working blah blah blah telling you go get a job at Lowe's and home Depot that's all you'll fucking hear.
In the 60s I was making $60/week and lived OCEANFRONT in Mission Beach, San Diego in a 1 bedroom 1 bath... You would have to be making at least $3,000/week to be able to do that now and it's so crowded and gentrified now it's not even worth it!
I don't think the society we knew will continue very long. We are marching toward depression. It began when companies tried to do catch up after the pandemic. When the boomers collapse, so does our society. But being poor is not so bad when everyone is poor. Being poor when everyone else is not can be miserable. If we don't stop voting for millionaires in our governments, we will always be in the poverty cycle used by the wealthy.
Same here yet I learned from it. Im content being a minimalist and look for food pantry’s, barely turn on lights use the sunshine , no cc debt etc.. i do not buy anything unless it is an absolute necessity. I live month to month and luckily can continue to work. I worry about the day I can no longer work yet I’m beginning to live life one day at a time. I’m not going to let stress shorten my capabilitie to work. 😂
Many folks struggling to cover basic expenses often face this challenge because they didn't save enough during their working years. The choices made in preparing for retirement have significant impacts, as seen in my own family. Different investment strategies led to different outcomes. With guidance from a financial advisor, I'm now enjoying my retirement.
Yes, I'm in my mid-50s, and a few years back, I moved my investments to my wife's wealth manager. While I haven't caught up to her long-term gains, my current earnings and the growth of my retirement fund, compared to just relying on the 401(k), are pretty satisfying.
It's a shame that many don't have this information, leading to anxiety. For me, I've made over $35k effortlessly with an advisor, consistently getting returns despite economic changes - the best part is, it doesn't demand much effort.
*@sofiakhalida8106* Can you direct me on reaching your advisor? I'm looking for a more profitable investment strategy to counter inflation and make the most of my funds.
Research and choose someone with a plan for consistent portfolio growth; "Camille Alicia Garcia" has done well with my investments, and I believe she has the qualifications and expertise to help you meet your goals.
I've proactively looked into Camille Alicia Garcia online, checked her credentials, and I am impressed with her expertise. I've contacted her to discuss my detailed financial market goals.
The US Gov, desperately, can and will reduce the 'unfunded liabilities' at all costs and means necessary. The future will look much different as it is now. Enjoy while it lasts, the end is near.
I moved very rural to retire. I am living just fine. I am not going back to work. Just get yourself a small place in the country that's paid off, a huge garden, fruit trees and berry bushes and life is alright out here in the country.
Just like a hurricane, if you're not prepared now for one to hit, you're going to be in bad shape when it does. I work with many over 55 aged people because they all need that extra income.
My parents (like too many in my community) have no pension or savings or pay outs from investments. Those concepts were devoid in the Black community. I and my siblings, at the height of our earning potential, are tasked with carrying the financially (which takes away from our quality of life) until the end. If not in this predicament, be thankful…
We have a consumer society. You can do only two things with income-spend or save and consumption wins for most. Without savings there is no future. I don't feel sorry for the people who don't plan for the future.
Retired/ SSI. Food, Shelter, A walk on the beach every day. Peace of Mind. It's all I need. I started a prepper pantry/closet 2 years ago. Stock, Rotate, Stock and keep stocking when items are on sale. After housing and basics are paid there is not much left but I'm at peace. We have two choices in these turbulent times. Sink or Swim like an Olympian doing the breaststroke.
Fun fact: percentage of 65-year-olds who did not work peaked after 2000. It was on a downward trend since the advent of social security. Working until you die has historically been the rule, not the exception.
The problem is that due to longevity, the retirement age has never been reviewed. The new retirement age should be 70 with an option to work till 75,at which retirement becomes mandatory. Bottom line,....... The whole economic structure and policies needs to change. Houses should be mortgaged by the state and not banks. Interest rates on loans should be applied in accordance with the value of the acquisition.
"Goodies?" Like an oil change, insulin, heat at 59° in the winter, car insurance in rural ND where we ranchers are working dawn to dusk to provide food for the nation?
i have tried to buy a used car with a credit score of 700+ and I was told I would have to pay 34% and give a $2000 down payment to qualify. This is an insult beyond what I would have ever expected. I could not afford to fix my car so I gave it up for piitens. Now I cannot afford to get a replacement for my car. So I have a mobility scooter and public transportation who don't want mobility scooters on their buses or our shopping carts or you name it. How are Seniors supposed to get around? Someone please tell me.
what can I do? I have been disabled since 2009 and I am 58 years old at the verge of retirement. My portfoliio of $750k is down to $492k, How can I profit from the present market" , I mean I've heard of people making upto $250k in couple weeks during this crash and I'd like to know how.
The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
@@Robertgriffinne I agree. Having an investment advisor is the best way to go. Based on a direct encounter with a CFP named Kathryn Alethe Hall, I can say with certainty that their skills are excellent.
@@Damncars456 The adviser I'm in touch with is Kathryn Alethe Hall, She works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television.
The gov't could have fixed a lot of problems for Americans (Social Security perhaps) if they'd spent those billions here rather than send them to never-never land🤔
I'm 48 year's old. I'm screwed in the future. I was just going about to say. I'll be working at Walmart when I'm 80 year's old. But I won't be able to do that as well. Everything slowly going to online or robots will be working the stores. 😢😢😢😢😢
If you are 63, 64, 65 etc and think you ready for retirement, work another 6 months (if you are able ) and jack up how much you put in a 401K by a large amount. If you can live on the reduced paycheck, you might be ok. If not, you are not ready.
I have no job pension I do have money in a 401k and Roth IRA my social security is $1,237 a month I put $350 each month into savings and live off the rest easy to do when you have a paid-for mortgage and no debt
Ha! I liquidated my previous employer’s 401k 3 years ago. Not because I needed it but the employer furloughed me and I was allowed to liquidate it penalty free due to ‘hardship’. The taxes were still low under Trump. So why not? I have been putting catch up deposits into my Roth for a couple years now. I can do better with my ira’s than a crappy 401k with 10 sucky investment funds. At 51, I have that $500k mentioned and more in non-retirement along with a paid off home. I thought early retirement would have been feasible in my early 50’s. Not so sure now. The plan is to reassess at 55
The last Cost of Living Adjustments or COLA for Social Security was in Jan of 2023 AND is was 8.7%. The statement that the "ordinary" senior citizen didn't get that is not true.
I'm a single, 43-year-old father who resides in Hamburg. If everything continues to go well for me, I intend to retire at age 50. I couldn't be happier right now than I am that I just bought my first house last month. I'm so happy that I made wise choices that altered my life forever.
Salutations, dude. At your age, you're doing extremely well. I'm 54 years old, and right now my finances are a mess. Any helpful advice would be greatly appreciated in helping to mold my life. I want to buy a home of my own.
It seems like I used the FIRE movement to manage my finances. Investigate it further by doing some research. With the help of a financial professional, they were then successful when investing in stocks, cryptocurrencies, and real estate.
I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
Her name is “VIVIAN CAROL GIOIA” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
My Financial adviser is ‘’'Natalie Lynn Fisk ’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
Considering the increased complexity since the 2008 crash and COVID, I suggest diversifying your financial portfolio. I hired an advisor and successfully grew my portfolio by over $150K during this turbulent market using defensive strategies that protect and profit from market fluctuations.
@@maryHenokNft Kindly share the details for reaching your advisor. With inflation negatively affecting my funds, I'm in search of a more lucrative investment strategy to optimize their performance.
Much credit goes to *Camille Alicia Garcia* for her significant contributions. She maintains an online presence, making it easy to locate her. While other advisors might pose challenges to find, Julia has proven to be an excellent mentor throughout the year.
I appreciate the information. I did my own research, and your advisor seems to possess a great deal of expertise and knowledge. I've reached out to her via email and scheduled a phone call. I'm impressed by her expertise, and I'm looking forward to our discussion.
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management
Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
@@Nernst96 this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
@@Nernst96 Thanks a lot for this recommendation. I just looked her up, and I have sent her an email. I hope she gets back to me soon.
I’d pay off my mortgage as soon as I could. In effect by removing the payments to the mortgage, you’re increasing your income. That extra money could go into investments so it would potentially start compounding. Also when you retire you’ll probably be on a fixed lower monthly income, so all debt needs to be eliminated. The only reason that I would consider not paying off the mortgage is if I plan on selling the house when I retire, but don’t be surprised if the cost of a smaller house costs a lot more than you expect.
We're not marching toward another recession, we're already in another recession! Take a look around!
Truth. We're marching toward another depression.
It's not that bad.
I did "look around" and I don't see a recession. US 3rd quarter GDP growth was 5.2% while unemployment has been below 4% since February of 2022. Do you even know what a recession is or are you living in the MAGA bizarro world where up is down and criminals are "patriots"?
I wonder if people that experienced the 2008 crash had it easier because this market conditions are driving me to insanity, my portfolio has lost over $27000 this nov. alone my profits are tanking and I'm don't see my retirement turning out well when I can't even grow my stagnant reserve
Even in this whirlwind, there are chances to be had, thus an increase in volatility is not always a bad thing. You have an opportunity to rebalance thanks to volatility. In order to help you diversify your portfolio, you must hire a financial counselor or broker.
I'll suggest you create a diversification strategy because building a good financial-portfolio has been more complex since covid. Recently my colleague advised me to hire an advisor, surprisingly I have accrued over $120K under the guidance of my coach during this crash. She figured out Defensive strategies to protect my portfolio and make profit from this roller coaster market.
I’m new to all this, heard it's a good time to buy and basically I've just got cash sitting duck in the bank and I’d really love to put it to good use seeing how inflation is at an all time-high, who is this coach that guides you, mind I look them up
Catherine Morrison Evans’ is my portfolio-coach, I found her on Bloomberg where she was featured, I looked up her name on the internet. Fortunately I came across her site and reached out to her, you can verify her yourself.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
This is why minimalism is the answer to almost all problems.
Well I definitely agree with that or I can certainly say that the minimalism that would get you through today probably wouldn't work tomorrow even an extreme amount of minimalist today at some point your luck is going to run out.
And I'm not saying that it's pointless to try I need to be honest it's better to do that tonight do that but I will say that you know there were those who lived extremely minimalistic even back in the 80s but you know they had to rethink and they had to plan accordingly by the time the mid-90s showed up so that's what I'm saying is 5 years from now 10 years from now you're going to have to go even more of an holistic the problem is it what point do you arrive at a plateau to where there's no lower to go?
@@government_costumes-ui5lx My situation may be somewhat different. I learned minimalism when I was divorced raped in 2012 and forced to live in an ancient 24' motorhome. I was able to financially recover from it (and the ensuing bankruptcy), but minimalism never left me. What has allowed my minimalism to be so successful is that after the divorce rape I cut women out of life totally.
I was making good money prior to 2012 but it was never enough. After 2012 I discovered I could live like a king on 1/4 of my previous income. I eat very well and have become a very good cook. I forget the last time I sat down in a restaurant. It doesn't take much for a man to be happy. I spend too much on my satellite TV and internet but considering where I live, I don't have another option.
I spend less than 1/3 of my yearly income. I own my home outright. I still drive a 2004 Lincoln town car even though I could pay cash for most any vehicle I want. Being totally debt free is priceless and that is the goal of minimalism. Most people today are in debt up to their eyeballs and the coming economic crisis will devastate them. I will be just fine living a carefree minimalist lifestyle. Cheers to you.
That includes minimizing exploitation and abuse of employees
@@peachpink123I'd say this system is the main problem. But by design we're trapped so we're gonna get what's coming to us regardless.
Yes it is
I took an early retirement in 2014.. Ive gotta get back in the workforce and it looks like Im one of those that will be working til I die!! 😳😳 Its a good thing I have a trade and that helps big time!!
Even if you get a piece of property and pay it off you still have to pay rent to the state.
Many places don't allow you to raise crops and animals to be self sufficient.
You can't even hunt your own property without paying state license fees and being restricted on what and when.
As income ebbs and government gets more greedy if your a prepper the most you can do is buy a little more time.
We are in deep trouble......
Back in the 90s, I had 22 acres in Montana with a stream running through it backed up against BLM... My annual property tax was $28/yr. Now that was nice.
No you can hunt on your own property without a hunting license.
By design!
@@government_costumes-ui5lx not where I live. And me and my family have 120 acres.
In a SHTF scenario, you're highly unlikely to get busted for hunting on your own property without a license, even where one is required. Also, consider purchasing a .22 caliber or larger air rifle for taking small game. Not only is the cost of ammunition lower, but they are very quiet compared to a firearm and you're much less likely to be heard, either by government agents or hungry people.
I figure I'm ahead in the game. I am now, and have been for quite some time living on the low end of things. Not so far to fall in a collapse. Keep breathin'.
It sucks to get old and now I get why the elite are trying to find ways to live forever. The work works uses you up during your working years and chews and spits you out at retirement while society forgets about them too. It’s a scary thought actually when I think about it all
The elite created the term 'teenager' (think new ager) & then made the culture worship the young by the commercialism aimed at them. Since the early '60s! Look how many men/women you see in public w/dyed hair. Nip tuck. Orange tan in a can. Makeup pasted on w/a trowel. Clear in their 80s!
In my 70s, and doing just fine.
@@donaldcrawfordiii554 You are paying attention to the dollars demise & going full digital? No transfer or carry over of your present wealth. Pensions & SS will be vanished.
@@NoComment-on1kl 🤣😂I never thought of it that way but now I guess it kinda is like that 🤣😂❤️
@@donaldcrawfordiii554 my mom is too but she still wants to work even though she retired from her nursing career and she is 75! She doesn’t want to stop working
I watch this when I am depressed to cheer me up.
Hahaha😂 good choice!
Exactly, it's my chill pill.
Did it work 😂
Same haha
EXACTLY FACTS
Spent 25 yr in the service; good retirement, health care along w/ medicare. Having also worked and saved. In my 70s.
But you may be required to murder innocent people in their own countries for private corporate profiteers... it's a sell your soul to devil kind of bargain. Nah!
Ahhh lived off the government then became a job hog. Way to go!
That's not something that can really be done anymore.
I knew an O-4 that was coming up on his O-5 and 20 years. He took the mRNA gene therapies the military was requiring and went from P.T. Stud to invalid in just a few short months.
Military service is no longer a good option.
@@government_costumes-ui5lxAs a retired combat Marine with 21 years of service, I will try to be nice, although it is against my training and nature! While you were sitting on your coach drinking beers, doing drugs, eating junk food, watching reruns of "Hee Haw," and chasing women. Some of us were dodging bullets and mortar rounds in the jungles, deserts and towns. Some of us even received medals for our service to the government. Instead of being a "Troll," show some respect to those that sacrificed for your right to be a "Troll."
@@government_costumes-ui5lx Go troll some where else. We don’t need your kind fool
To young people: Learn from older people who are struggling if you can. Many will be reluctant because they may feel embarrassed to talk about their situation, but if you can find some who will talk about what “went wrong” it will be invaluable.
What went wrong? Inflation according to the best economists is really 17-25% now each year since 2020. Your retirement "savings and investments" have been devalued by over 50% since 2020. Thank your central bank for debasing the currency you worked for all your life at warp seed. Retirement is another thing a middle class person now can not afford. Try saving 2M on the average wage as a single person. After taxes, you can barely survive.. and this is the average wage paid.
what "went wrong" People voted for Democrats. Let a Dem touch it and they will Eff it up...There isn't a single city that has been successfully run by a Dem, but yet people keep voting for them with the promise of stuff and this is what happens.
Most young folks won't even watch this video so all the comments will go nowhere.
You must be joking all the young talk about is how poor they are😂
Oh I have a story. DO NOT drink to the point of blackout. Anything could happen. Stay safe everyone. ✌️
The price of things today is insane. A 7 ounce bag of potato chips at Target is $4.29. This should cost $1.49. Eggs at a restaurant is $17.00 this should cost $2.98. Then there's McRipoff's prices. These places used to sell cheap affordable food. Now they call themselves restaurants with $14 combos
Chips are not a necessity! Don't want to spend $17 on eggs in a restaurant buy a carton in eggs and eat at home! Mcripoffs same thing.
Inflation is eating up expendable money, slowly people will stop going to restaurants, etc , more people out of work. Having snow balling effect -
$5.29 for 8 oz bag of chips at local grocery store here. They can keep it.
@@paul-youngthat's insane
@gabrielmoody1708 most of us Gen X middle income earners cook our own food. Your comments show how out of touch you are.
The game is over, soon, we will have to do horrible things to survive. The Elderly and the sickly will probably be the first to go the moment welfare and social security turns off.
.....and its coming.................like a train ....full throttle
Exactly,
@@stevendedeian7774both of you understand, chaos is coming and it's coming hard.
People are already doing horrible things to survive it just hasn't reached the peak, it hasn't got as bad as it can get yet.
It s all planned
Many of us boomers never thought that jobs and money would ever stop rolling in. In the 60s, jobs were easy to get and the cost of living was cheap. Madison Avenue saw that too and came after the boomer, selling us cars that needed to be replaced when the next year model came out. Clothes suddenly had to be changed every season and every year. Naturally every year you had to take a vacation with the family to Disneyland or yake a cruise. The the movies came out telling you to buy a $200 cowboy hat and $500 cowboy boots, disco came out and you went dancing in your white suit like Johnny Revolta. Then ccame the pickup trucks that never carried a load or drove off road. At 40 you were in that stage in life when you probably had more days behind you than you had left but you kept living like the money would never stop, and it did and now the only money not stopping is your payments on the thousands owed on your credit cards.
Well that's correct I mean I've been watching the shit I was a kid to say that yeah you're right most these people really fucked himself I say it on this channel all the time but the middle class for the most part screwed themselves there are certain things that the government and or politicians as a whole has definitely screwed up but for the most part when it comes to personal and financial decision the politicians have nothing to do with the middle class decided most of this garbage they screwed themselves yet they're always looking for someone to blame it doesn't matter if they're going to blame the politician or point the finger at the food stamp card holder they're going to blame somebody that it turns out they're not the Pinnacle of taking responsibility like they always want to lecture others and for the most part especially in the past 15 years I've watched most of these people do nothing but lecture other people and virtue signal about taking responsibility as a means of them covered for the fact that they don't practice what they preach.
If you want to know why the class is seemingly in trouble versus 20 years ago when even back then it was screamed that they were under attack and they were going away it simply because of the shit decisions that they have made and the situation to where people are buying their bullshit so much anymore frankly they've become a bit of a laughing stock.
As prices go up common folk below the middle class or just barely into the middle class well any status that they have gained they're going to lose going to get knocked down a notch or two to write back to where they were meaning they haven't really needed progress they're going to feel that all the sudden they're motivation goes away when most common jobs cannot pay the bills then it's pretty much most people if not the vast majority of people are simply priced out of even the shittiest of basics there's no motivation the middle class does not respond well to this largely because as the problems it gets closer and closer to that that all the sudden their income doesn't mean as much as it used to so they start feeling squeeze but even before they start feeling the squeeze they'll scream and holler then it's definitely coming for that which it really is but of course frankly people are sick to death they're tired of hearing the endless rambling about the middle class.
So I say the middle class is going away for different reasons a lot of it happens to be on the home front of they made their own bad financial decisions keeping up with the Joneses the second main reason is simply because they're useful idiots to the cyst their status of middle class is overhyped because it serves as a political platform for idiotic politicians that's really what it's meant to do that's what it's been distilled down into these people are not the middle class that the baby boomers parents grandparents was what made those folks middle class was simply they were saved response these were people that could write a budget and actually stick to it.
Furthermore those older generations understood the value of products when we're talking about baby boogers well you get into the late 70s early 80s these folks by that time were in their early to mid 30s they by that time had a pretty serious job they were making some decent money they weren't doing too bad right well it kind of went to their head in many respects and it became that they got stupid when it came to shopping they didn't practice and dabble in the art of thrift in fact they made fun of thrifty people the retailers convinced that it was convenient to just shut the fuck up and pay the price never mind what product is actually worth just shut up and pay the price because of the brand name or because you need that item now honestly that accounts for a lot of the inflation in the retail market I know because well I myself have 20 plus years business management experience in retail and I can certainly tell you that that's right about 50% of the price that you pay the cash register is literally made up inflation if you study retail then you'll stumble across the information that I have and that is simply that yes shopping habits had changed in the late seventies going into the 80s and most of it was the consumer got stupider they didn't know what the value of things were and frankly even if they did they bluntly ignored it they did not care they just wanted to pay the money and they sold this concept to the boomers and elder gen xers as convenience it was all about convenience and the minute that they were able to do that the consumer no longer was able to keep the retailers in check they lost control.
Here's the deal it doesn't just affect that affects everybody you know 40 years of this shit going on to say the least give or take a couple of years that screws everybody everybody wonders why you get out of the dollar store and you look for a cheap ass pair of headphones all the sudden those cost five to ten dollars whereas not long ago you could have went in there and bought the same set for a dollar to $3 you could have bought the real cheap ass headphones with the metal headband and everything for literally 98 cents at one point now granted that's been a very long time ago but still those headphones disappeared they came out with ones that looked beefier even though they're just as shitty and cheap and they jacked up the price people wonder why that happens well people don't bother to understand how anything is made people don't bother to understand what really goes into shit they just mindlessly pay the price they feed the machine!
Except for the most part I can certainly say that yeah these people did it to themselves by feeding the machine another reason is simply well you know they've lost a lot of credibility they constantly want to bitch and lecture others and virtually signal particularly about her death and even though I can remember a time back the 90s where most of the throughout the concept of work ethic they told the truth and the truth was simply the only real reason they continuously is because well not only do they have bills to pay for the job actually pays for bills I remember 25 years ago people including School teachers talked about how if it didn't cover their monthly expenses they wouldn't bother well nowadays we're seeing that we're seeing a lot of people a lot of different parts of life and a lot of different professions across a lot of different industries basically say screw it I'll take my chances on the road on the street or out in the woods but of course they're frowned upon for doing so even though everybody at one point 20 to 25 years ago openly admit that that's how it really works!
Times are different now aren't they? You see you gotta understand that things are gonna change because they've already been prophesied.
The days that you remember are long gone and will never come back. You see that everything has become alot more serious and the pressure has been going up. Why? Because God's time is getting closer. I just hope you're here to witness it.
Those boomers were fools and got what fools deserve. We had our great depression era friends and relatives to learn from growing up so I did.
Eliminate the payroll tax cap and Social Security will be just fine.
Having parents who are retired and who are over the age of 65 years old I can be a real eye-opener. Things that my parents could do financially 30 years ago they can't do now. Both my parents had to really downsize their life . Small apartment, got rid of 75 % of their clothes, no longer has cable, after 51 years they got rid of their home phone number. I have witnessed how much their own life has changed.
This is so sad. And very few people in the mainstream are talking about this. Anyone on fixed income moving forward for the next decade and a half will suffer bitterly
I PRAY for those in their 20s, 30s, 40s, 50s,....especially with this looming pre depression status and social security PENSIONS changing in the next 1 0 years!...Then there is AI (artificial intelligence), closing of various stores, companies, financial institutions, changes with the medical establishment, housing and rents increasing, water, property taxes, repairs, electricity, food, gas, daycare, various insurances (housing,
Auto, life, health, dental, etc)....
That's the new standard for the American "golden years".
@tammypaige5468, ......BUT at least your parents were smart enough to see the need to adjust and downsize!...I too, retired from State service with full benefits and social security, etc...but I downsized my life since the 2008 recession and also due to a near fatal car accident with a drunk driver 13 years ago!....It's just myself and my 4 year old Pomeranian dog, ...I'M blessed to live simple but nice, peace of mind, healthy/no meds or illnesses, eat a flexible vegetarian way of eating, exercise, light weights, squats, walk 7 days a week, I decluttered in 2020, 2021 during the pandemic and replenished, ...So I really need NOTHING!..I too, live in a large Apartment but a small well maintained complex with a pool, ...I'M more peaceful, spiritual, healthy, sleep better, happy, and able to adjust better to this pre depression status were headed for!!
Good for them! The older you get, the more you understand what really matters. Ever wonder why telemarketers hang up on you if you tell them you're over 55? Because you're no longer an idiot buying every new shiny object. You are realizing the folly in that. I'm 74 and I got rid of my Voip "landline" at age 60. As far as cable - I have a modem for the Internet and I just get independent news now... who needs fake MSM news? Everything is available on the Internet. I have a 2 b/2 b house but I don't use half of it. Possessions weigh you down. Get rid of them while you still can!
Too much debt, new cars and big homes is why many people cant afford retirement. The Gov pushes the idea you have to work till you die. They need taxpayers, not people on SS.
People buy goodies on their credit cards and max them out. Then complain about a $25 monthly copay on a medication they need.
Ya,buying your pot,booze and snacks on your c card/s will eventually catch up with you
Hordes you clearly don't work for the government. They spent till they drop.
YeS, and weigh 180.lbs and say I'm hungry 😢 Put yourself on a diet cause now it's called involuntary for some their stomachs are big as whales and need to stop over consuming 🤬
Yes I put food and meds on my credit card because foodstamps only give me 25 dollars a month when I am Medicare and after my rent i have 300 dollars to pay bills with out of my check I get once a month 300 dollars don't go far for food and pay for phone and meds and doctors and everything thing else so I have use credit card so I lucky if I have any money after paying on credit card bill food and get water to drink and pay for meds and doctor co pays and lights and everything
I don't got a car so I have to buy bus pass to ride bus the city bus in the heat and in the cold
I'm sitting here right now thinking I might have to go back to work
Most people live way beyond their means
Well said
Yes, that’s true, but the days are coming fast when their means won’t be enough to cover their needs. And for those that aren’t saving and investing now, it’s going to be a hard time, very hard.
Mostly Americans do this
Actually I think it's not that they live above their means... they sadly live just AT their means and so they fail to accumulate wealth that they could have at age 50 with understanding and self-discipline. It's easy when you're 26 to imagine that you'll never live long enough to reach 50 or 60 or 70... but many people do and it really creeps up on you fast!
@@Kinkle_Z that’s really true, I remember thinking when I was in my mid 20’s, “I have plenty of time to start saving for retirement”, and it’s unbelievable how fast time goes. Now that I’m almost 70, I can’t figure out how I got here so fast. Fortunately, I ended up making a lot of money in my career, or we’d be in the same dismal boat as most other seniors. Thank The Lord we aren’t in the shape so many are!
I learned how to save money from my father. He used to fill up mason jars with all kind of coins. When he passed; we found about 15 mason jars full of coins in his bed room. In 2010 I lost my job and all I had was jars was have been saving with since 2003. I saved up to 1,8000. That was enough to pay rent for three mounts and pay electric bill. We were living in a total electric apartment. What ever you can save; save it. Even if you have to eat least and wear old clothes.
Unfortunately that's_what_Biden_economics_has brought us.
We'll have to do what we have to, to survive but it's a real shame that we're going off a cliff as far as standard of living and the next generation is going to have it worse. The working young today are going to be crushed with the taxes needed to pay the interest on our still ballooning debt while trying to survive the unstoppable inflation they'll have to face at each turn.
Sometimes old clothes never go out of style, saw a real good looking kid at target today, old clothes, ripped tee, but had the longest shiniest clean healthy hair, almost looked like a model, don't have to have dry cleaned clothes on, poor but clean and hsppy😅
@@Shadow_Banned_Conservative It's like retirement and the entire economic system is a pyramid scheme. That's what happens when you allow government to print money through a bank. All of society is screwed.
True. The earlier the better. I started late but am surprised how well a lifestyle change has worked. Unfortunately it is getting increasingly harder as inflation is earing up would be savings.
My grandmother passed on several years ago at 99. She sav3d up silver dollars. Had piles of shoe boxes full of them. I save all my silver now.
The truth is, no matter how frugal we are, there is no such thing as a sure thing. After 9/11, many older workers at companies like United Airlines were offered early retirement packages and were told that if they put in 20 years with the company, they would have a guaranteed pension of around $3,000 per month for life and many such workers accepted the deal. But then United filed for bankruptcy and that meant that these retirees lost as much as a third of their pensions which forced them to go back to work and/or make many changes in their lifestyles. Or what about the people who used to work for companies like Enron and Worldcomm? We can't prepare for something we don't see coming.
Which is ducked up because UNITED never failed
@@stormyskyz7881 United was refused a federal loan guarantee in the wake of the 9/11 attacks which is why it filed for bankruptcy in 2002. Because of the shutdown following those attacks, United lost over $2 billion so it was hurting financially. As part of its reorganization, United was allowed to default on its pension obligations which is why I say that many times people get into financial difficulties through no fault of their own.
Everything is so expensive now
Luke 21,36 KJV ❤
And it is getting worse!😮
Life doesn't have to be expensive learn how to budget
With my portfolio of $750k. I’m looking for opportunities to profit in a potential downturn, According to rating agency Moody’s, both the UK and the US are set to fall into a recession because of higher interest rates.
An obvious way to invest for a recession is to buy shares in businesses that are likely to experience steady demand even in a downturn. Typically, those are consumer staples, utilities, and healthcare companies, but off course such decisions cannot be made by an average Joe, a financial advisr is important in making this decisions
I agree Such considerations can certainly have a role when I think about whether I ought to buy into a share. But I never purchase purely on that basis, i always have to seek the advice of my financial planner who has helped me gain $985k in a well-diversified portfolio that has experienced exponential growth
my advisor is "Colleen Rose Mccaffery" she's highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial
Scam thread! Please be aware!
This video is a lot of fear-mongering. I am 67 years old, retired for several years now, with no income except Social Security, and I am doing just fine. Of course my lifestyle is a lot simpler than when I was working - for one thing, I haven't owned a car for years (which means I don't give a flying flip about the cost of gas. Hey, I don't even have to spend $20 every four years to get my stupid drivers license renewed! I just let it expire in 2018 and never bothered to get another one.) Also, I used to eat out all the time and now I never do, except for maybe buying a hotdog or a slice of pizza or something like that. Mostly I eat at home and it's usually something simple like rice with eggs or fish. But I love that so it's not a hardship at all. Yesterday my Social Security payment came in and I celebrated by spending $140 on books and another $140 on other hobby stuff. Life is good. I love this channel and watch it every day - but don't believe everything it says.
Good to hear you are doing well. Its all about what your expenses are.
No car?
I haved tried to go back to work to support my social security. It was the worst experience of my life. I cannot survive under the conditions we are presented with in this time,
Age discrimination is real
Tell your friends and family to stop voting for Dems
These days saving for retirement is like trying to squeeze blood outta of turnip
Turnips with peanutbutter
Well you should have gotten a pension job
@the honorable: I've saved a little from grocery money, birthday gift money, tax return money for 30 years. Little bits of money over a long period can grow. Just get started. Best wishes.
@@kurtrussell5228 I have worked with plenty of people in their 70's that thought they had a pension until they didn't
@@kurtrussell5228 ask beavis I get nothing but head
ABSOLUTELY CORRECT ! We are retirees, having worked all our lives and contributed to Social Security. NOW, we are faced with "running on empty", as our COMBINED pension checks WON'T pay our bills & expenses ! This is a RECENT event - up to the COVID epidemic, we were covering all our costs, and even saving $$$ every month. NO MORE SAVINGS NOW ! We cringe when we think about unexpected repairs/ replacements that would put us back into DEBT with our credit cards !
Some of it poor planning. Poor financial management. Living beyond means. You can’t expect to work at a factory pulling a lever thinking that job will last forever. Billy Bob invest some money into yourself and have a backup plan instead of a new truck and a pool in the backyard. Then you see go fund me requests going up. Sometimes I want to say, go fund yourself.
All those stimulus checks made people accustomed to spending money and drawing down their savings then the rug pull.
@@lym3204,
Not me I saved every one of my stimulus checks
The crux of the problem is that wages have not allowed 2-3 generations (the last 50 years) to have money left over to invest in retirement savings vehicles. They must spend all of their money to provide shelter, food and clothes with little more left over for discretionary spending.
After ERISA was enacted (David Hoffman I Want To Retire I Can't Here's Why), the companies said, "heck with this regulation, we can't keep this up, we'll shift the burden on the companies to the workers". Thus was the shift to 401Ks, IRAs, etc... The government was trying to prevent companies from declaring bankruptcy and absolving their responsibilities to their pension plans and making the employee take the responsibility.
Well, this presentation is a summation of how that worked out for Americans. The US and the has a huge future problem.
Nuff Said.
Well I myself definitely more concur with this simply because you know look the price is gone up but it's true the wages don't really match I mean it's like for the past 7 years everybody's threw a big fit about the proverbial $15 an hour but here's the deal the vast majority never get paid that proverbial $15 an hour the employer is going to come up with every fucking reasons as a means of not paying you the advertised wage so most people decide it's not really worth your time and for the most part they're correct but there are those who believe that they should just shut the fuck up and take the job for the sake of having a job first I've noticed the vast majority of people are usually making in the neighborhood of 40 to 65,000 a year and generally don't have a care.
So a lot of the problem in society is simply you have those that are on the better side of life doing here's the deal they're becoming very very ignored rightfully so simply because they're out of touch if they do bring up a time where they live paycheck to paycheck it's always some wo
Horseshit about 35-40 years ago it's irrelevant to today's world.
The one I always found hilarious was the old retired person going to tell me who's hiring that they're so convinced that this place or that place is hiring even though they themselves haven't been involved in the job market for what 5 to 25 years what the hell did they have what I also find hilarious is the people that are in a job but are not in the job market they also claim to know who's hiring and by the way it's never their workplace!
I think you described the future very well: Just a little advice for you younger people. I'm an old guy and have gone through a lot of depressing times. Start thinking about how you can save money: Quit eating out, buy some of your clothes and shoes, etc. at used clothing stores, quit taking long expensive vacations, and buy used dependable cars like Toyota Corollas. Start saving money at a bank that will pay you interest if you can. It's just a start. You will get better than me once you think it out a little.
Retirement is an important phase in one's life where individuals can enjoy their golden years and focus on their personal interests and well-being. It is a time to relax, pursue hobbies, spend time with loved ones, and reflect on a lifetime of work. Planning for retirement is crucial to ensure a comfortable and secure future, both financially and emotionally. Start saving early, explore investment options, and seek professional advice to make the most of your retirement years. Remember, it's never too early or too late to plan for retirement.
Congrats. The true financial unlock comes when you understand and know the technique required to manage your investment's overall risk profile and avoid permanent capital loss. It is critical to have a strategy in place to capitalize on profits when they occur.
@@susanlisa3782 If you don't want to crash and burn, you should seek the advice of a fiduciary counselor when you first start out. Because their entire skill set is based on going long and short at the same time, they employ a profit-driven strategy based on individual risk tolerance.
@@leonardives1991 Fiduciary-counselors have exclusive information and data paths that are not available to the general public. Under the direction of my Fiduciary-counselor "Mayra Femia Hetrick" I made over $560k between Q3 and Q4 of 2022. I'm hoping for more
@@patricia_nura3378 How can I get in touch with Mayra? What are her offerings? Is she verifiable? Do you believe she can assist me? I am from Canada.
@@Elina_H Just take a look at her full name on the internet. She is well known so it shouldn't be hard to find her.
My property tax went up an extra $500 a month.. Government really thinks people are not struggling out here. I'm putting the rest of my money into Bitcoin and XRP!
doing the math back in 2005 when I 28, I needed 2.5 Million by the time I retired to live comfortably. This was before losing my a#$ in 08. We are screwed.
My ex-husband did the same thing when we were married. He figured that we each needed $3 million to retire 'comfortably'. I'm not sure what his criteria for "comfortable" was but $3 million wouldn't have been nearly enough for him. He was never happy.
If you're 46, I hope you had kids at some point because life is all about grandkids. If you're a woman, that ship has sailed but if you're a man, you may still be able to pull it off.
Good luck! 🙂👍
Saw a guy at walmart working he was 81.
Makes you wonder how so many young people just walk around all day, without a job ?
@@sidsnyder8043 Welfare net
@billted3323 It is becoming tough for over 50% of the country, the people the polititicans don't care about.
Some 81 year olds are in pretty good shape.
Many men don't do well when they retire unless they have lots of hobbies and a big social network, which they usually don't. Their drive has to be channeled into something.
Many end up going back to work.
But these days he likely had to.
@@sidsnyder8043 Makes me wonder why the WALTONS, who own HALF THE WEALTH in the US, pay so little that their employees are eligible for taxpayer supplied FOOD STAMPS. It's the Waltons who should be SHAMED... not poor people who can't find a job and have fallen justifiably into complete DESPAIR!
Stay in your budget and exercise 💪
That is why it is called the American dream. Enjoying your life is a dream. Your are breed to the plow and do someone else's work for them your whole life instead of pursuing your own interests.
Got to get behind the mule in the morning and plow - Tom Waits
Retired expat from the US living in Thailand 5 1/2 years
Everything great here- people friendly, great Partner, prices low, no inflation, weather good, great beaches, great healthcare, plenty to do and see, travel inexpensive....
Havent missed the US for a moment.
If you can, check out retirement overseas .
Good luck!!
It’s called saving and living within your means. Prepare early in life for retirement
And how do you do that with runaway inflation? It's better to have tangible assets you can sell to keep up with inflationary costs.
So true.. However, things happen and thing fall apart!!! Just saying
If you are saving in the paper that is offered as the USD; you will not be happy in the near future.
Becoming a millionaire is possible.
At one point that worked but inflation has completely changed the game.
Elementary my dear Watson. If the politicians sincerely cared about seniors. They would eliminate social security taxation. Or, update the decades old social security tax tables, to current inflation rates. If there is no profit to be made, politicians will drag their feet, or sit on their hands! Until, senior citizen votes are needed!
My Grandparents raised 5 children during the Depression. That generation did what was needed to feed and house the family…
My dad is 67 and works harder than anyone I know 😥
Lol bullshit!
If you can start a garden you should. If you can put away a little silver you should. Put away a little food. Put away a little water. Learn a simple skill thard be marketable (filling lighters, making fuels, scavenging metals, making clothing, etc).
What is the water and Silver for?
@@princessunicorn669 silver is for when you need to buy something. Water is for when the taps stop
@@princessunicorn669 Those answers are really pathetic though some can help. Instead choose to get good at DIY to slash your home and vehicle maintenance overhead. Have zero frivolous interests. Gardening is fine though and Victory Gardens are ample proof. Precious metals don't bear interest but people like them because they're tangible. The taps are not going to "stop" short of nuclear war and if you're in a city you're SOL. If in the country the wise are on well water and know how to maintain their wells.
US has been living far above it means for decades. Eventually bills comes due.
And things will get worse, a lot worse. Between politicians spending like there is no tomorrow and dollar losing it status of global currency, things will get a lot worse.
Here's what it boils down to it will get much worse for the working class and the people that were middle class that are pushed down into poverty now The Uber rich they have all the money it will not affect them at all.
It's been said it's the greatest wealth transfer in history and unfortunately it's not on our side.
Well I would say that the vast majority of the middle class group themselves by buying too much house too much car and maintaining a multiple credit cards.
Of course I can also argue that most of these people who identified as the middle class never really the class to begin with they just looked and act the part through lines of credit take away the credit and they're not shit!
So the billionaire class didn't exactly show up their front yard and decide to shit on their porch was more so they made a series of shitty decisions that caused them to fail and here we are 15 years later and they still won't commit that it was their fault.
@@rogerhoke3103 _The Uber rich they have all the money it will not affect them at all._
Not the money, as dollar will lose most of it value. Rich have resources. They have stocks, they have deeds, they have bonds, they have property, etc. This is one of the reasons why they pay disproportionately less taxes. Only tiny portion of their wealth is in actual money.
_It's been said it's the greatest wealth transfer in history and unfortunately it's not on our side._
It is a bit of everything and wealth transfer is one of those factors. Rich did not syphon off all this wealth, most of it was not there to begin with.
Where is it written that people have the right to retire? There are no guarantees in life.
I knew in my early 20's I was going to be working until the end of my life. Anyone that thinks otherwise is either making a LOT of money or they're kidding themselves.
Making a lot of money won't necessarily save you. I've made a six-figure income for more than 25 years but everything I've saved and invested could be wiped out tomorrow. I could wind up the same as someone who never saved a thing in their life.
Since my early 20s I worked, saved, sacrificed at my higher income to set myself up for early retirement at 55. I'm 52 now and I'm expecting to lose everything in the coming depression and end up working until the day I die.
@@Shadow_Banned_Conservativeif you made 6 figures over 25 years, and don't have anything to show for, you seriously mismanaged your money. Maybe you shouldn't have gambled it all, oh sorry I meant "invest". That implies the gamble was somehow virtuous
@@chrism8180 Where did I say I have nothing to show for it? I said I could be wiped out.
You do realize that a depression can wipe out just about anyone and everyone, right? I don't see us having a recession like the one that hit us in 2008. I'm thinking 1930s style depression that's world-wide, where we have soup lines and 2/3 of the population doesn't have a job. Back then the government stimulated the economy through infrastructure projects to get us out. We don't have the money to borrow this time around though to finance a recovery.
Even owning a lot of property can't save you in a depression. The government can just levy taxes on you that you can't pay and then they'll seize your property. The governments around the world are looking for new and increased revenue streams due to their spending in the lockdown. In fact, my property taxes went up 20% this year and we were told to be ready for another 20% next year or the county will have some hard times going forward.
Now that the government handouts are drying up, all that spending from 2020 until now has just created new obligations for your local governments to have to maintain.
You think inflation is bad now, just wait.
Six figure income, mid-30s, aiming to be able to afford to retire by 40. Doable. But have to be privileged to do so.
Not true, I have close to 2 million in assets and no debt and have averaged only 40 K a year as a construction worker. I saved , did without, drove old cars , and took very few vacations, worked all the overtime I could sometimes having 2 jobs. I sacrificed for years to have enough for retirement. It can be done, but your have to have a goal and stick to it. Too many people want big homes and new cars.
If you grow old solo, it is very difficult.
Not if you're capable and smart. We all die so I will not excessively prolong my old age. I'm at peace with the world and after my first heart attack know I do not fear death (though pain gets my attention).
I divorced, finished raising my four kids, and then left a 100k-a-year job. I just retired at 62, with no retirement savings of any kind, but I was willing to move, cut my expenses in half and live simply. I now have $400 a month for my hobbies and am very happy. You can do it too, but you need to be willing to live a very simple life and stop being a bank slave. Good luck.
I'm going to ask how did you retire making that kind of money and not have anything saved and don't blame it on raising 4 kids
They spent a whole lifetime not figuring out how to make passive income
I miss the comfort in feeling sad. Thank you Epic screw you serotonin
We are very worried too! The basic things are at the heights! From Brasil.
it's the Brazil we want 😢
I'm seeing a large increase of elderly people (60 years old+) working as cashiers at grocery stores, department stores, hardware stores, etc. It's like no young people want to work. There are always help wanted signs on entrances to stores and resraurants. Are all the young employable people living at home with mom and dad?
so true, I'm see the same thing at the local food stores as well.
That, or young people just started getting better jobs and engage in the growing (though poorly paying) gig economy.
It's also questionable how often those help wanted signs are even real anymore. Stores and restaurants have been getting by on skeleton crews and, at least in the short term, customers have kept coming despite worse service. So if you're a businessman who, like many, is only thinking about the near term, why actually hire more people? Just put the sign up so customers *think* you are trying to hire more people to give them better service, and you get the best of both worlds (in the short-term).
No it's the stores don't pay shit, I know I'm a manager and so most of the old people only need x amount and will work for it. Plus they don't want nor need a lot of hours!
Then the other reason in many places is simply the management is older and so that's who they prefer to hire!
This forcing the young out!
Oh by the way the help wanted signs don't mean anything given they've been there for over a decade simply because the government paid them to put them up via the work opportunity tax credit!
Most places aren't actually hiring and when they do it's for extreme part time which there again is what the old people are!
Well the concept of most stores and restaurants running skeleton Crews actually got it start in and around 2005 there was back then a point in time where everybody young and old realized that that's what was happening and everybody was bitching about it.
But then you ended up with the post 2008 anti millennial propaganda coupled with the rise of the work ethic propaganda and the public with short-term memory problems immediately said that those were the issues they forgot that just three years prior all of your retailers restaurants etc had decided to cut staff and had no intentions of hiring anymore.
Of course what made the blues for memory was the appearance of help wanted signs all over the place but everyone was completely stupid and never bothered to look into why this help wanted signs appeared and it was simply because the government paid these assholes to stick these signs up via the work opportunity tax credit.
Basically how it works is you hire someone and if you work them for $120 hours then you receive a 25% tax credit if you work them for $400 hours you receive a 40% tax credit if you work the longer there's even more money to be had the problem with this program....
Is simply no employer pursues anything above the 25% tax credit and the reason that is that way is simply because there is no limits on how many people they can hire and fire in a given day week month or year.
So what that translates into is simply they hire a large group of people than when those people get to about 80 hours into the job they hire in another large group of people behind them then when those folks get their hundred and twenty hours in they get rid of the first group bring the other group in then they're hiring another group right behind them.
Basically this goes on until they run out of people that have given area to hire and the reason they run out of people to hire is because most companies the shitty ordeal where when you're 120 hours was that they would stamp you unrehireable.
They did that because you can only collect the tax credit off a person once.
So basically what happened and technically it still goes off this day is that the government through this program had basically insured that every job is nothing more than temporary job I've seen employers literally make up jobs just to collect the fucking tax credit.
Of course insult injury added to the situation is simply oh yeah the temp services are eligible for this and by the way they are if not pursuit of the work opportunity tax credit!
Of course last decade it was also used as propaganda to feed the public particularly the older variety of the public.
Because it was a common dick wag that aunt and uncle if not Grandma and Grandpa whoever would drive around town and then they would talk about driving around town and all they see is help wanted signs I don't know how many times I've heard that shit being rattled off.
So they think because there's a help wanted signs that these places are actually hiring they're really not the people that they're willing to take on are those that they have designated to a temporary position so they can pick up a fucking tax credit other than that there is no guaranteed full-time job unless of course a full-time person quits.
And even then you'll find yourself working full time hours but there's not exactly a full-time position there they'll dangle it in front of you but in reality there's no guarantee.
So that's another topic everybody wants to Dick wag about the supposed gig economy and the supposed Lopez it comes with the gig economy like assure you that the past 3 years most of those that were working in the gig economy they were making bank it's true there has been a pullback there has been a bit of a downturn but some of that is that market got flooded I remember being subscribed to a couple of Facebook channels because I was looking into shit like doordash and instacart and I remember a lot of these guys on there talking about how they themselves were losing money because everybody in the town decided that they too were going to become a doordasher I mean people literally quit full time jobs to do this so if your market becomes flooded then yeah ultimately you don't make a lot of money.
But then again that's the employment market as a education then nobody really has the edge and so then in any given profession that basically becomes flooded the wages drop.
Basically they did the same thing to my old profession which was mechanic.
So I have a 16 and 2001 I picked up a job and it looks One More shop I was there for 3 years my moon lighted on the side and made better money than I did at my actual full-time job which was a grueling 6 days a week and I was paid a lousy $6 an hour but I also worked on cars on the side at one point I was even a mobile mechanic.
But then next thing you know everybody next thing you know everybody can do breaks the minute everybody got laid off they threw a toolbox in the back of their vehicle and they too could go make at least 26 bucks an hour if they wanted to put the time in.
So as far as going back to the actual mechanics garage for a job forget it those guys aren't going to pay you shit to bust your knuckles and you're always going to be a debt to the tool Man because they refuse to buy the proper tools to get the job done.
Then you had the added bonus the people were going to technical colleges and coming out they were supposed to be some of which were mechanics others were supposed to be technicians but what's funny is most of them couldn't tell me the difference between a positraction rear end and a fucking limited slip.
I was 18 back in 2003 and I was appalled it what was coming out of the technical schools.
So that's just it most mechanics garages are small businesses but of course there is a misnomer a bad mystique about small businesses everybody seems to think because it's a mom and pop shop they don't make them I'm not saying that every single one of them are extremely rich and of course I have owned and run my own business so I know how that goes so business is not a cash cow but I can also say that well established mechanic's garage for the most part can pay their people more than what the fuck they are.
So they have a steady rotation of people and if you're going to be a mechanic particularly anywhere here in the Midwest chances are you're going to end up down at Bob's garage Bob's not going to pay you a lot of money this is exactly why I got out of that profession as quickly as I got into it.
So it became that they were pulling people off the street and training them well enough to do oil changes brake jobs shit like that but those of us that were handling the more serious work we saw virtually no more money and then you had the guys coming out of technical college with their useless degrees and in some shops they would get the title of technician they would get a little more money but then we would quickly find out they don't know they're asking meanwhile those of us that actually know that can literally do the job we weren't paid we weren't promoted we weren't shit.
Frankly this has been going on most professions so I think a good portion of what you have today is not people being lazy it's simply they've done math if they're not going to be any better off financially by going the extra mile then really it's costing them time and money to go the extra mile in other words if you do extra work at work you're basically screwing yourself out of money because the employer is not going to pay you double the wage per hour for dump work they're going to pay you the single rate and expect double work because you fucked up and did it once or twice.
Those environments are literally every job I'm a manager and I can tell you that I basically advise people to not really do any more than they really have to do.
And I advised him on this simply because well I don't own the place but I've been around the block more than wants to know that you don't volunteer for anything and if you do then basically you're really costing yourself money because your time is valuable!
@@government_costumes-ui5lxagreed
Nobody cares as long as they have their phones to play on.
Collapse comes electricity will be taken. Technology will be mostly useless
😂
When you retire no matter what you think is enough it isn’t. No matter how much you prep and stock your pantry it’s never gonna be enough. Just do as much as you can, keep working it keeps you healthy keeps you motivated and moving. Try to sit down as little as you can move, move as much as possible, exercise every chance you can as much as you can like your life depends on it! Work out best you can a little every day no matter what…Make it a habit!
I retired with only a $40K nest egg and a Social Security check in 2013 at age 63. The nest egg is now at $70K and I'm able to stash $1K/month from my SSA check. AND... I spent 3 months in Europe having a blast, no holes barred. I've never been richer! Don't let Wall St scare you into thinking you have to have 1/2 million in the bank to even consider retiring. That's BS. They just want a cut of your savings! Here's the secret: 1) Have all debt paid off, 2) Have a house deed in hand (bonus for me- I bought cash for $35K at the bottom of the market in 2010 -now zillow valued at $300K in a Prop 13 state so my prop tax never goes up!) and it's a great artsy community next to a National Park with Fresh Air and water, and 3) Have your car paid off and well-maintained. My whole life I struggled paycheck to paycheck. Once I retired - SUDDENLY I was rich and FREE and HAPPY and STABLE! You can make it happen!
I’d like to see the receipts on this. Because it sounds absolutely impossible, especially saving $1K when you took SS early.
Same here SS plus pension from my union job.No debt. House paid off and worth 5x what I paid. I too am in a Prop 13 state. Life is good
I had to do that, I was go8n* to get a new auto, but just couldn’t afford one, so I’ve started looking at fixing my current one up.
In Panama the govt doesn't allow foreigners to have any job a Panamanian can do. But not in America.
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless." - Thomas Jefferson
I will have to work until I die.
Army service has left me with hip joint problems that cause constant pain.
You should be on medical disability so get with fellow vets who understand the system because many do not know how to engage it properly. reddit and vawatchdog etc are good resources. Don't pay anyone, do study HEAVILY online. Get copies of your medical records and if useful get a "buddy letter" if you need to verify a particular deployment and do not have hard copy orders. Nothing you study will be more important to getting what you earned by fulfilling your side of the contract.
THEY NEVER MENTION DISABLED, especially those who didn't expect it right as they were coming back to work post divorce or caring for family or sick family member. they only go back 5 working years, many did not get enough quarters, especially woman. So many are below poverty. Those sick enough to need home health assistants' obviously pretty sick, so they could be brilliant and talented but not knowing how they r going to feel from day to day and having bad days or weeks can only work for themselves and no programs for that. just penalties that should not apply to those who are not totally disabled. it is sickening. for all . they need to get all illegals off of they ssa, as well as getting rid of penalties period. NO ONE SHOULD BE PUNISHED WITH POVERTY IN EVENT OF MEDICAL TRAGEDY OR MIWTAKES. ederly are treated horrible in the usa. THEY JUST BORROWED FROM IT AGAIN 2 PAY UKRAINE BS WAR.
Finally.., the best narrator period is here, right here!
As long as kermit narrates these videos, I will not watch or listen; his voice is like listening to someone scratch a chalk board.
COVID was a blessing and a curse. It was a blessing in that OLDER folks jumped in and filled the gaps while working from home. In work-from-home jobs employers didn't care what you looked like (agism was pushed aside), they just needed to fill some critical positions PERIOD.
A lot of older people want to work. That is a good personal choice. 😊My life was set with DB pension and a sizeable inheritance. 🎉
Yeah but most of their motivations are pretty messed up I mean there's a fair amount of that don't actually need money but they make out like they did there's another group of them that they do need the money but it's not simply because there ain't things they could change so that they wouldn't have to work they just refused to change and then there is an even smaller percentage that does actually authentically need the money.
But the vast majority of it's not really that they want to work it's they want to go there and constantly get patented on the back for work it's become fashionable for them to have a job for them to make a big deal about how old they are and they're still working blah blah blah telling you go get a job at Lowe's and home Depot that's all you'll fucking hear.
Wow what a mess , Good story and thanks for the information.
This commentary makes me feel that the rapture is very near, so I’m looking forward to getting out of this mess
A blast from the Sun will fix it all.
Population is the problem, career politicians don’t care they are multimillionaire
I am 76. In the 1960's and 1970's I could have many things while working for $75-100 a week plus insurance policy..
In the 60s I was making $60/week and lived OCEANFRONT in Mission Beach, San Diego in a 1 bedroom 1 bath... You would have to be making at least $3,000/week to be able to do that now and it's so crowded and gentrified now it's not even worth it!
@@Kinkle_Z I went to military school in San Diego in 1967 after I got back for Vietnam. CA was nice then...
@@johnbethea4505which type of insurance policy😮
@@mynameisas2248 I had life and the best health insurance of $35 a day. Hospitals were cheaper back then...
@@johnbethea4505 now a days I found websites that those plans are still affordable for people today.
Be careful how you vote. Look at the last 3 years. Our taxes need to be spent more efficiently as well.
I don't think the society we knew will continue very long. We are marching toward depression. It began when companies tried to do catch up after the pandemic. When the boomers collapse, so does our society. But being poor is not so bad when everyone is poor. Being poor when everyone else is not can be miserable. If we don't stop voting for millionaires in our governments, we will always be in the poverty cycle used by the wealthy.
FRB was printing money 24/7 for last 24 years , now chickens have come home to roost. Europe and Canada are also the same
I left the country. My buying power has gone up over 40% and I have a higher quality of living.
What country please?
I downsized 13 years ago and still barely making it
Same here yet I learned from it. Im content being a minimalist and look for food pantry’s, barely turn on lights use the sunshine , no cc debt etc.. i do not buy anything unless it is an absolute necessity. I live month to month and luckily can continue to work. I worry about the day I can no longer work yet I’m beginning to live life one day at a time. I’m not going to let stress shorten my capabilitie to work. 😂
Let's do our part in saving money to fight the inflation
Unfortunately I think the only thing that can actually fight inflation is a second Civil War
Many folks struggling to cover basic expenses often face this challenge because they didn't save enough during their working years. The choices made in preparing for retirement have significant impacts, as seen in my own family. Different investment strategies led to different outcomes. With guidance from a financial advisor, I'm now enjoying my retirement.
Yes, I'm in my mid-50s, and a few years back, I moved my investments to my wife's wealth manager. While I haven't caught up to her long-term gains, my current earnings and the growth of my retirement fund, compared to just relying on the 401(k), are pretty satisfying.
It's a shame that many don't have this information, leading to anxiety. For me, I've made over $35k effortlessly with an advisor, consistently getting returns despite economic changes - the best part is, it doesn't demand much effort.
*@sofiakhalida8106* Can you direct me on reaching your advisor? I'm looking for a more profitable investment strategy to counter inflation and make the most of my funds.
Research and choose someone with a plan for consistent portfolio growth; "Camille Alicia Garcia" has done well with my investments, and I believe she has the qualifications and expertise to help you meet your goals.
I've proactively looked into Camille Alicia Garcia online, checked her credentials, and I am impressed with her expertise. I've contacted her to discuss my detailed financial market goals.
The US Gov, desperately, can and will reduce the 'unfunded liabilities' at all costs and means necessary. The future will look much different as it is now. Enjoy while it lasts, the end is near.
I moved very rural to retire. I am living just fine. I am not going back to work. Just get yourself a small place in the country that's paid off, a huge garden, fruit trees and berry bushes and life is alright out here in the country.
Corporations profits have never been higher, raising prices on consumers has destroyed the retirement dreams.
internalize profits, externalize costs = corporatism
Just like a hurricane, if you're not prepared now for one to hit, you're going to be in bad shape when it does. I work with many over 55 aged people because they all need that extra income.
All the preparation in the world won't protect against a cat 5. And then you find out your insurance won't cover the damages because of some bs clause
Well most either refuse to quit blowing money others want something to do but all of them are mostly covering up for the fact they're job hogs!
My parents (like too many in my community) have no pension or savings or pay outs from investments. Those concepts were devoid in the Black community. I and my siblings, at the height of our earning potential, are tasked with carrying the financially (which takes away from our quality of life) until the end. If not in this predicament, be thankful…
"Other people's Money" has got a new meaning. Astronomical Debt and Death.
We have a consumer society. You can do only two things with income-spend or save and consumption wins for most. Without savings there is no future. I don't feel sorry for the people who don't plan for the future.
Retired/ SSI. Food, Shelter, A walk on the beach every day. Peace of Mind. It's all I need. I started a prepper pantry/closet 2 years ago. Stock, Rotate, Stock and keep stocking when items are on sale. After housing and basics are paid there is not much left but I'm at peace. We have two choices in these turbulent times.
Sink or Swim like an Olympian doing the breaststroke.
Fun fact: percentage of 65-year-olds who did not work peaked after 2000. It was on a downward trend since the advent of social security. Working until you die has historically been the rule, not the exception.
The problem is that due to longevity, the retirement age has never been reviewed. The new retirement age should be 70 with an option to work till 75,at which retirement becomes mandatory. Bottom line,....... The whole economic structure and policies needs to change. Houses should be mortgaged by the state and not banks. Interest rates on loans should be applied in accordance with the value of the acquisition.
Stop funding other countries social infrastructure with taxpayer money.. problem solved
"Goodies?" Like an oil change, insulin, heat at 59° in the winter, car insurance in rural ND where we ranchers are working dawn to dusk to provide food for the nation?
i have tried to buy a used car with a credit score of 700+ and I was told I would have to pay 34% and give a $2000 down payment to qualify. This is an insult beyond what I would have ever expected. I could not afford to fix my car so I gave it up for piitens. Now I cannot afford to get a replacement for my car. So I have a mobility scooter and public transportation who don't want mobility scooters on their buses or our shopping carts or you name it. How are Seniors supposed to get around? Someone please tell me.
You're saying you don't even have $2,000 saved
Golden Girls show was not a comedy show for entertainment but a Documentary on how you'll financially you'll need to survive. ~Reality
You will have nothing, but you wil be happy!!
"OWN NOTHING/BE HAPPY" - Mischa (funny) ---th-cam.com/video/8ESl5jCxMA4/w-d-xo.html
That is actually possible, you know.
what can I do? I have been disabled since 2009 and I am 58 years old at the verge of retirement. My portfoliio of $750k is down to $492k, How can I profit from the present market" , I mean I've heard of people making upto $250k in couple weeks during this crash and I'd like to know how.
The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
@@Robertgriffinne I agree. Having an investment advisor is the best way to go. Based on a direct encounter with a CFP named Kathryn Alethe Hall, I can say with certainty that their skills are excellent.
@@PhilipMurray251 how can i align with her?
@@Damncars456 The adviser I'm in touch with is Kathryn Alethe Hall, She works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television.
Good Job Joey B.
The gov't could have fixed a lot of problems for Americans (Social Security perhaps) if they'd spent those billions here rather than send them to never-never land🤔
I lost that amount just in property taxes and insurance
I'm 48 year's old. I'm screwed in the future. I was just going about to say. I'll be working at Walmart when I'm 80 year's old.
But I won't be able to do that as well. Everything slowly going to online or robots will be working the stores. 😢😢😢😢😢
If you are 63, 64, 65 etc and think you ready for retirement, work another 6 months (if you are able ) and jack up how much you put in a 401K by a large amount. If you can live on the reduced paycheck, you might be ok. If not, you are not ready.
I have no job pension I do have money in a 401k and Roth IRA my social security is $1,237 a month I put $350 each month into savings and live off the rest easy to do when you have a paid-for mortgage and no debt
Ha! I liquidated my previous employer’s 401k 3 years ago. Not because I needed it but the employer furloughed me and I was allowed to liquidate it penalty free due to ‘hardship’. The taxes were still low under Trump. So why not? I have been putting catch up deposits into my Roth for a couple years now. I can do better with my ira’s than a crappy 401k with 10 sucky investment funds. At 51, I have that $500k mentioned and more in non-retirement along with a paid off home. I thought early retirement would have been feasible in my early 50’s. Not so sure now. The plan is to reassess at 55
The last Cost of Living Adjustments or COLA for Social Security was in Jan of 2023 AND is was 8.7%. The statement that the "ordinary" senior citizen didn't get that is not true.