@@foundryfinancial I think this is not an option for me. My current line of work is paid for by Medicaid payments and the IRS made it tax free income. I've only worked for 8 years as a W2 employee but for the past 14 years my income has been $0 on my taxes.
I need a video on what to do when you have multiple medical crises that totally derail ALL of your plans (cancer, stroke, heart attack, and a heart transplant). My husband is 57 and I will be turning 50 soon. It feels hopeless. Oh did I mention that we have 4 kids. Two in college, an 11 year old with autism, and a 9 year old.
Most of my clients are remote. I had an office pre-pandemic, but now I have a home office and just meet via zoom. Happy to do a quick call and see if we could be helpful. www.foundryfinancial.org/get-started
Question what advice would you give to a 56 year old I have about 120k in my company’s 401k and about 20k in the bank I have no idea where to start to invest or should I even consider the stock market?
You need to run the numbers and see if it makes sense, but for some people it makes sense to wait, because it creates a significantly more fixed income when your least likely to be able to work - depending on healthy and family history.
What about pensions ? If you were in a big union you may get $70,000 a year from your pension. Maybe $35,000 if you are married. If you are getting $70K you may not need to save anything. As a Federal employee you also get huge lump sum in addition to a pension so you can live better than when you worked.
Does anyone feel like their retirement is off track?
Me 😮💨
You’re not alone! The best place to start is maximizing social security.
@@foundryfinancial I think this is not an option for me. My current line of work is paid for by Medicaid payments and the IRS made it tax free income. I've only worked for 8 years as a W2 employee but for the past 14 years my income has been $0 on my taxes.
No
No! I am moving in with Joe and Jill.
Thanks so much! At nearly 46 years old, this video gives me hope.
Glad it helped! You have plenty of time.
Very generous of you to provide this content without a bunch of ads. Thank you
My pleasure.
Great content! Needed this one- thank you!
I need a video on what to do when you have multiple medical crises that totally derail ALL of your plans (cancer, stroke, heart attack, and a heart transplant). My husband is 57 and I will be turning 50 soon. It feels hopeless. Oh did I mention that we have 4 kids. Two in college, an 11 year old with autism, and a 9 year old.
thanks for the info!
beautiful video, love the tips! i'm not 50 yet but getting close, trying to save more and live frugally and below me means. thanks so much!
Thanks so much for your kind words. Still new on this TH-cam journey. Glad it was helpful!
@Foundry Financial wish you success on your channel. Finance channels gets a good rpm and cpm
How did I not know that earnings on a Roth are tax free? 🤯 Thank you!
It’s all very confusing! Glad it was helpful.
Great video. Thank you for sharing.
Thanks for watching!
Very helpful Kevin. Thank you.
Thanks Ellis, I really appreciate it.
@@foundryfinancial you are welcome. What areas do you work with, or is remote ok? I might need your services.
Most of my clients are remote. I had an office pre-pandemic, but now I have a home office and just meet via zoom. Happy to do a quick call and see if we could be helpful. www.foundryfinancial.org/get-started
How do you feel about the Roth option in employer plans. Roth 401k etc.?
For man people, depending on your tax bracket - it’s a great option.
Question what advice would you give to a 56 year old I have about 120k in my company’s 401k and about 20k in the bank I have no idea where to start to invest or should I even consider the stock market?
“Just another 8 years” lol 😢 that sounds miserable
Are you talking about delaying Social Security? It’s possible to retire and also delay social security.
Kevin,
How much do you charge to meet with a new client?
62 to 70 is almost a decade that's a ridiculous amount of time plus most US citizens die before 77 and since covid the US average has went down
You need to run the numbers and see if it makes sense, but for some people it makes sense to wait, because it creates a significantly more fixed income when your least likely to be able to work - depending on healthy and family history.
Hi. I'm told if I'm low income to invest in a reg IRA not a Roth. Any thoughts?
I can’t give financial advice, but I think the ROTH is great tool for most people - but especially people in lower income brackets.
This video really helped me understand that I am simply fu$ked!
I do Turo and it’s not passive income..there’s work involved
What do you earn in an average month with Turo? I thought about doing a video on Turo and Airbnb for income.
@@foundryfinancial I have 4 cars…3 electric and 1 cargo vehicle…all earning $1100-$1400 per month
That’s incredible. Good job.
What about pensions ? If you were in a big union you may get $70,000 a year from your pension. Maybe $35,000 if you are married. If you are getting $70K you may not need to save anything. As a Federal employee you also get huge lump sum in addition to a pension so you can live better than when you worked.
Pensions make life a whole lot easier. Ha.
Not really experienced anxiety lol
Thanks for your comment!
Waiting until 70 or 80??? Why just wait until your 6 ft under 😆😜😝🤦🏾♀️
Haha. Well it depends if you have other revenue sources.
No such thing as Passive income…partial passive income…you have to work for all income
That’s exactly right.
Or find a sugar mama or a sugar daddy…lol
Haha!
or take money early because nothing guaranteed, fuck age 70