Lately I've been contemplating retirement, uncertain whether my 401(k) and IRA will ensure a secure future. I've also invested $800K in the stock market, experiencing fluctuations without substantial gains.
Using a 401(k) or IRA is a valuable strategy for retirement planning, providing potential savings growth and tax advantages. While the stock market is promising, expert guidance is essential for effective portfolio management.
Exactly my solution too, even though I'm not retired. As a contractor with limited time to analyze investments, I've relied on a fiduciary for the past seven years to manage my portfolio. This strategy has helped me navigate market fluctuations effectively and also increased my porfolio by up to 300%. You might consider a similar approach.
I've got similar problems and I have also considered using an FA but I don't know how to go about it. Please, what are the steps for getting one? Like a really good one.
This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried.
Not a lot of people are able to save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
I’m closing in on retirement, too, and I have benefitted so much from using a financial advisor. I didn’t start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who had been investing for many years.
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
I retired 2 years ago at age 55 paid off my mortgage.. To date we have not touched a dime of our retirement money. I have 1.5M in my portfolio. It took me 10 years to get to this goal. I started with 55K through my CFA ‘Diane Sarah Olson’ My dividends are supplementing my retirement at the moment. It takes time and I invest in good companies. I never sell the chicken that lays the egg (dividends). I just eat the egg
Looks like she really knows her stuff. I also found her online page and read through her resume, educational background, qualifications and it was really impressive.
When did you start? I’m 24 and I don’t how much to invest each month, outside of Roth IRA, I’m thinking like 1000? I can’t do more than 2000 but I will have to survive on rice and beans lol
I retired at age 53, so I am in my early 60s. Many of them resisted me because they couldn't understand the idea of not working if it wasn't necessary. I considered the phases of my life. I worked very hard to achieve what I have now, but in my last years, I owe it to myself to "stop and smell the roses." In my instance, I departed the nation after retiring and currently reside in Latin America. It made it possible for me to appreciate my new surroundings while escaping all the bad things that were going on in America. Nobody that I know of regrets retiring has yet to come to me.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than a million dollars by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Kathie Daisy Bosco who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
My confidence in my retirement changes depending on which video I'm watching. This video makes me Hopeful, my social security check will completely cover my monthly expenses and I have no debt, I would only need about $1,000 a month, and that's a very doable!
I plan to retire or reduce my work hours in five years, and I'm interested in how others allocate their income between savings, spending, and investments. I currently earn about $175K annually but haven't built up much in savings so far.
There are numerous strategies to achieve high yields during a financial crisis, but it is crucial to undertake such trades with the guidance and supervision of a professional financial advisor to ensure informed decision-making and risk management.
That's true. I've been assisted by a financial advisor for almost a year now. I started with less than $200K, and I'm just $19,000 short of half a million in profit.
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Sophia Maurine Lanting turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
Azul, please do a video all about setting up an annuity - why, how, when? I’m retiring in a few months with an IRA. I also have $25-30 K I could use to set up an annuity but I’m not sure about how, or how much is really needed, or weather this is right just before retiring. Some sold general understanding would be helpful.
I like your advice. I use an alternate way to calculate what we needed. I itemize ALL current expenses per month then x 12 then x 27 (a buffer number above the base 25x aka 4% rule). Example: Spending $5000/month which is $72,000 then x27 which equates to $1,620,000 invested at about 7% return. I think this gets me very close. Something to consider.
How about giving examples for a couple who only have like 250 k for retirement in savings - I’m 62 husband 76 both still working full time- husbands refusing to retire till I do! 5 months to debt free
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second daughter. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks...
@@AlilatTiamiyu Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY* ........
I married a girl much younger than I and retired. She likes to work overtime and her bosses have loved her where ever she has worked before. Now I am never out of coffee money and the rent is always paid. It works for me.
Simplest plan possible: If you can live off SS + 4% of your portfolio per year, you can retire. And that's assuming you live 30 years in retirement, which few of us will.
True for FRA, but like a lot of folks I'm doing the early retirement plan (I work in the hospitals and it's been bothering for some time now as each day I see folks my age with all these medical issues and so I feel the vulnerability of age despite eating well and exercising). Then the formula gets complicated by SS now (at a cut) or delay filing? And you add to the concern with a 2008 decade of the bears, along with the smile curve of go-go to slow-go to no-go and possible medical bills.
Many of us, for many reasons, are not able to navigate through the complex plans I see. I am a low-key person and don’t need fancy, just to be sure I don’t run out of money. Thank you for this video!
I am retiring next yr at 55 with 3 houses paid off worth 4.5 million . One is my place of residence the other 2 properties will give me $80,000per/yr rent . I will have an income stream of $20,000 per yr through my super which gives me total $100,000 a yr to live comfortably . I have no debts
You have done great for yourself. I understand the fact that tomorrow isn't promised to anyone, but investing today is a hard thing to do for me now because I have no idea of how and where to invest in. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.
My CFA Julianne Iwersen Niemann, a renowned figure in her line of work. 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.
I like my burgers well done anyway! Ha ha I retired at 52 thanks to the videos. And I’m living my best life right now ! Thank you Azul for the push ! I’ve turned several friends on to your videos, but they’re afraid. I’ll stay on them . Ha ha have a blessed day!
I’m considering retiring at 51 or 52 as well. Just trying to build up confidence that we have enough. The numbers seem to say yes but then I hear all these advisors out there saying you need $1.5 million at the expense level we want to be at. It’s something that I just don’t want to make a mistake! Happy retirement!
@@NipItInTheBud100 we invested in closed end funds and dividend paying stocks and when our dividend income exceeded our needs i made the decision. my wife and I have always been frugal , not cheap, we just don't live lavish until we go over seas haha. I don't know how Azul feels about closed end funds but we make far more than working and spend lees since we quit and gosh its so fun just living life for our well being and not making someone else rich. my wife and I are as happy as we've ever been! good luck , prayers to you and your family!!
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement of about $150k. I want to know: Do I keep contributing to my portfolio in these unstable markets, or do I look into alternative sectors?
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
@@FaithJay-d9n I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
@@JohnBeen-r3v ' Sharon Crump Cline is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
@@purplebliss6875 I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Don’t burn your burgers, lol! Thanks for sharing! I prefer an advisor that charges an up-front fee or hourly rate rather than a percentage. I don’t need someone to manage my accounts, but do need the tax advice.
Yeah. By marker 6:15, those burgers are becoming charcoal. Carbon Kid! I bet someone else stepped in. I havent finished the video yet. Perhaps there's more to consider.
Azul, personal question, if you don’t mind, I thought you were vegetarian, no? Just asking as I am trying to “take advantage of my senior years” and doing what I can to eat better. I see some find a vegetarian diet helpful, others seem to benefit from a more carnivore based plan. I am trying to find a balance with meat protein, vegetables and fruit, and reducing but not eliminating carbs. Any insight into your experience with healthy eating and fitness would be helpful. Thanks!
Great Stuff here Azul thanks! Question when you mention taking money out of a 401k, like the 4% rule is the amount Gross less 20% to IRS for taxes or net with taxes already out?
Net, I believe, however you can likely pay less than the default 20% deducted (more like 12) unless you are living in a high cost situation pushing you +92K annually
Hopefully I am retiring Jan. 1 at age 54-55. I will be living with expenses of $34,000/year and will only have about that much income. First 7 years before ss at 62 will be SEPP from 401k, small pension, and severance. Then small pension & ss should cover it and 401k can supplement income. That's the plan anyhow. I don't want to work until I die and my health isn't the greatest. This currently depends on if I get the severance package or not though.
I’m 50 and was considering long term care insurance. I have no kids and I don’t want to be a burden to my siblings if I need constant care. Can anyone comment on this topic or the insurance itself?
Azul how do you feel about closed end funds for retirement income? I ve been in them since the early 80's and love them but several financial folks I know don't like them. Id love to know your thoughts. Thanks for the motivation to live a great retirement!
From paying for day care and college, to managing mortgage payments. I'm approaching retirement yet inflation is getting worse and recession is biting harder by the day. How can I generate more income to retire with at least $3m for long term care? I have about 750k in savings.
That is so amazing, I’m trying to get onto the investing ladder at 40. I wish at 55 I will be testifying to similar success. investors like you should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Thank you for this tip. It was easy to find your coach on web. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
World's easiest retirement plan; live on less, save more. This does two things for you, you will have more money saved and you will realize you don't need as much.
My financial advisor keeps a set amount. Anything I make more than that, I spend. If I don't make anything that year, I have to live off of my other streams of income, the largest being social security. Three out of five years tend to be positive growth in the stock market. Now that is simple.
500000 X 5% is OK although most folks don't think about the tax at normally for most is 22%=19,500.....Just doesn't get the number they want. Overall great video as always
One way is to look at how they are paid. If you pay them for a fiduciary relationship, you will likely get that, and you get what you pay for. If they are paid commissions by companies to sell you this products, they are not your fiduciary.
The continuously changing economic conditions in our society have made it necessary for people to find additional sources of income, thus I am looking at the stock market to fuel my retirement goal of $3m, my only concern is the recent market crash.
Agreed, despite my rookie knowledge of investing, I have a financial advisor who did the trick in a bit more than 6 months after a lump sum capital of $500k, and I've so far made a fortune. I'm now buying real estates, gold and silver as advised by my FA.
Thanks for the info. I searched for her full name and found her website right away. I reviewed her credentials and did my research before reaching out to her.
Hitting the 22% tax bracket is something that people should look forward to. This bracket does not start until after you pass 89K in income. It is the beauty of a progressive income tax system. And anything pulled from long term capital gains will remain at 20% so there is a bonus.
@@ChristopherEvans-650 Sure but you get to subtract: supplemental premium health care costs, and gifts to charities, tax prep costs etc.... Just for kicks run turbotax as a second check your tax preparer. then look at all of the potential deductions(walk me through everything) that might apply to your situation. That my unlock other deductions that you are entitled to or ones that you can plan for in the future. Good luck.
One concern I see many seniors facing is divorce in their latter years and death of a spouse. I’d love to see some actual statistics but from an anecdotal perspective the number of singles in the population here in southern Arizona is nuts. And too many are trying to squeeze out a life by living in 55+ communities or living in an RV in the desert. Shocking how many are basically homeless living in Vans and 20 year old fifth wheels.
Azul, I lover your videos and watch every one, BUT........your explanation on required starting balance and spending 3% vs 4% vs 5% got off track. You actually stated ("mis-stated") that if you plan on spending 3% you need $825k starting balance, 4% spending you need $625k, and 5% you only need $500k. I know you know what you are talking about, but mixed and matched SPENDING with required SAVINGS Returns.
A non-diversified stock fund would add more risk, not less. Growth stocks have been having a phenomenal past few years. A fund that's value outpaces inflation, every year, without exception and yields 5% every year, without exception, sounds like a Bernie Madoff fund to me.
Taking 80k and reducing it and then trying to take more out of the retirement account to get less and troubling yourself over 1 percent idea?! Why not take less than 80k let the money grow then you can take more later on and you may be taking more few percent okay later on.
Well, I picked the challenge to put my finances in order. Then I invested in cryptocurrency, stocks, through the assistance of my discretionary fund manager
Heres my version: #1 You make us dizzy when you walk around #2 Do not retire until you HAVE to retire #3 You will spend in retirement as much as you always do (100%+) #4 Keep quitting jobs till you get one with decent health care and a 401k #5 Get 100% of match #6 Invest 100% in the S&P 500 till age 50 (the rich who own 90% of all stocks and run the government will never allow the market to go down for long) and then ease off a little if you cant stop yourself #6 Take out as little as possible. Super easy.
Retirement is ok until you get hit with surprise costs. I'm on Medicare and just found out that a medication that I take will cost in the thousands next year. This year, a 90-day prescription costs $4. It is an antidepressant, so I can't just switch over. Very bad situation. I hope I don't live too long. Will wind up on the street.
I recently sold some of my long-term position and currently sitting on about 250k, do you think Nvidia is a good buy right now or I have I missed out on a crucial buy period, any good stock recommendation on great performing stocks or Crypto will be appreciated
I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $100k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.
I have been vegetarian for 3 years, and I love it. However, my eating habits are so bad. I gave up meat and increased on junk food. I am 10 pounds over my ideal weight. I exercise 6 days a week. Good luck to you. I am still a work in progress😊
I like how the comments are focused on the burgers, but the real problem right now is how the price of eggs is cutting away at my retirement. Hmm it's always the breakfat meal.
I'm favoured only God knows how much I praise Him, $230k every 4weeks! I now have a big mansion and can now afford anything and also support God’s work and the church.
I started pretty low, though, $5000 thereabouts. The return came massive. My son is in school doing well, telling me of new friends he's meeting in school. Thank you Anita Jo Humphrey you're a miracle
We all understand the fate of those who reject the pursuit of ever-growing wealth, as shown in Luke 12:13-21. The Parable of the Rich Fool reminds us why many refuse to settle for complacency and retirement.
Lately I've been contemplating retirement, uncertain whether my 401(k) and IRA will ensure a secure future. I've also invested $800K in the stock market, experiencing fluctuations without substantial gains.
Using a 401(k) or IRA is a valuable strategy for retirement planning, providing potential savings growth and tax advantages. While the stock market is promising, expert guidance is essential for effective portfolio management.
Exactly my solution too, even though I'm not retired. As a contractor with limited time to analyze investments, I've relied on a fiduciary for the past seven years to manage my portfolio. This strategy has helped me navigate market fluctuations effectively and also increased my porfolio by up to 300%. You might consider a similar approach.
I've got similar problems and I have also considered using an FA but I don't know how to go about it. Please, what are the steps for getting one? Like a really good one.
Stacy Lynn Staples is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
My needs are kind of unique and complex. I'll contact her nonetheless, and I hope I'm able to make something out of it.
This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried.
Not a lot of people are able to save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
I’m closing in on retirement, too, and I have benefitted so much from using a financial advisor. I didn’t start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who had been investing for many years.
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I retired 2 years ago at age 55 paid off my mortgage.. To date we have not touched a dime of our retirement money. I have 1.5M in my portfolio. It took me 10 years to get to this goal. I started with 55K through my CFA ‘Diane Sarah Olson’ My dividends are supplementing my retirement at the moment. It takes time and I invest in good companies. I never sell the chicken that lays the egg (dividends). I just eat the egg
Truly It’s all about accumulating wealth through compound interest investments.
Looks like she really knows her stuff. I also found her online page and read through her resume, educational background, qualifications and it was really impressive.
Consistently investing in quality dividend paying companies over the long term is a relatively easy strategy to create generational wealth
I had to Google to be sure, great resume she has.
When did you start? I’m 24 and I don’t how much to invest each month, outside of Roth IRA, I’m thinking like 1000?
I can’t do more than 2000 but I will have to survive on rice and beans lol
I’ve been thinking about starting retirement planning, but it feels overwhelming. There are so many factors to consider.
Yeah, it’s important to figure out how much you’ll actually need in retirement. I’ve heard people underestimate that all the time.
I’ve started contributing to my 401(k) at work. Do you think that’s enough, or should I be looking at other options too?
I know diversifying your investments is key, but I’m not really sure how to balance risk. Some people say stocks, others say bonds. It’s confusing!
keep hearing about the power of compounding interest, so I guess starting early is a huge advantage, right?
What about healthcare in retirement? I didn’t realize how big of a cost that could be down the line.
I retired at age 53, so I am in my early 60s. Many of them resisted me because they couldn't understand the idea of not working if it wasn't necessary. I considered the phases of my life. I worked very hard to achieve what I have now, but in my last years, I owe it to myself to "stop and smell the roses." In my instance, I departed the nation after retiring and currently reside in Latin America. It made it possible for me to appreciate my new surroundings while escaping all the bad things that were going on in America. Nobody that I know of regrets retiring has yet to come to me.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than a million dollars by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Kathie Daisy Bosco who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
My confidence in my retirement changes depending on which video I'm watching. This video makes me Hopeful, my social security check will completely cover my monthly expenses and I have no debt, I would only need about $1,000 a month, and that's a very doable!
I plan to retire or reduce my work hours in five years, and I'm interested in how others allocate their income between savings, spending, and investments. I currently earn about $175K annually but haven't built up much in savings so far.
There are numerous strategies to achieve high yields during a financial crisis, but it is crucial to undertake such trades with the guidance and supervision of a professional financial advisor to ensure informed decision-making and risk management.
That's true. I've been assisted by a financial advisor for almost a year now. I started with less than $200K, and I'm just $19,000 short of half a million in profit.
That's quite impressive! Can you share more information about your financial advisor?
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Sophia Maurine Lanting turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
Can you do a video on saving on taxes when you have a side gig in retirement
Azul, please do a video all about setting up an annuity - why, how, when?
I’m retiring in a few months with an IRA. I also have $25-30 K I could use to set up an annuity but I’m not sure about how, or how much is really needed, or weather this is right just before retiring. Some sold general understanding would be helpful.
I like your advice. I use an alternate way to calculate what we needed. I itemize ALL current expenses per month then x 12 then x 27 (a buffer number above the base 25x aka 4% rule). Example: Spending $5000/month which is $72,000 then x27 which equates to $1,620,000 invested at about 7% return. I think this gets me very close. Something to consider.
How about giving examples for a couple who only have like 250 k for retirement in savings - I’m 62 husband 76 both still working full time- husbands refusing to retire till I do! 5 months to debt free
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second daughter. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks...
@@AlilatTiamiyu Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY* ........
@@IfranReinfeld Oh please I’d love that. Thanks!
@@AlilatTiamiyu *MARGARET MOLLI ALVEY*
Lookup with her name on the webpage.
I married a girl much younger than I and retired. She likes to work overtime and her bosses have loved her where ever she has worked before. Now I am never out of coffee money and the rent is always paid. It works for me.
I'm pretty sure those burgers are burnt
😂
This guy wants to help me plan for retirement? He can't even figure out how to plan for tonight's dinner!!!
😂
It’s really simple either saved enough money or you didn’t. You can’t fix 30 or 40 years of compounding by saving 10% extra year for a few years.
Simplest plan possible: If you can live off SS + 4% of your portfolio per year, you can retire. And that's assuming you live 30 years in retirement, which few of us will.
Sounds like a pretty good rule of thumb.
True for FRA, but like a lot of folks I'm doing the early retirement plan (I work in the hospitals and it's been bothering for some time now as each day I see folks my age with all these medical issues and so I feel the vulnerability of age despite eating well and exercising). Then the formula gets complicated by SS now (at a cut) or delay filing? And you add to the concern with a 2008 decade of the bears, along with the smile curve of go-go to slow-go to no-go and possible medical bills.
Many of us, for many reasons, are not able to navigate through the complex plans I see. I am a low-key person and don’t need fancy, just to be sure I don’t run out of money. Thank you for this video!
I am retiring next yr at 55 with 3 houses paid off worth 4.5 million . One is my place of residence the other 2 properties will give me $80,000per/yr rent . I will have an income stream of $20,000 per yr through my super which gives me total $100,000 a yr to live comfortably . I have no debts
You have done great for yourself. I understand the fact that tomorrow isn't promised to anyone, but investing today is a hard thing to do for me now because I have no idea of how and where to invest in. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.
My CFA Julianne Iwersen Niemann, a renowned figure in her line of work. 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.
I like my burgers well done anyway! Ha ha I retired at 52 thanks to the videos. And I’m living my best life right now ! Thank you Azul for the push ! I’ve turned several friends on to your videos, but they’re afraid. I’ll stay on them . Ha ha have a blessed day!
I’m considering retiring at 51 or 52 as well. Just trying to build up confidence that we have enough. The numbers seem to say yes but then I hear all these advisors out there saying you need $1.5 million at the expense level we want to be at. It’s something that I just don’t want to make a mistake! Happy retirement!
@@NipItInTheBud100 we invested in closed end funds and dividend paying stocks and when our dividend income exceeded our needs i made the decision. my wife and I have always been frugal , not cheap, we just don't live lavish until we go over seas haha. I don't know how Azul feels about closed end funds but we make far more than working and spend lees since we quit and gosh its so fun just living life for our well being and not making someone else rich. my wife and I are as happy as we've ever been! good luck , prayers to you and your family!!
@@gregrockey1438 thank you. Same to you and yours!
Great simplicity in this video. Thank you for providing options to get to that retirement finish line.
Another consideration is the expense that may be incurred with your medical needs later down the road. I am taking that into consideration as well.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement of about $150k. I want to know: Do I keep contributing to my portfolio in these unstable markets, or do I look into alternative sectors?
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
@@FaithJay-d9n
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
@@purplebliss6875
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.
@@JohnBeen-r3v
' Sharon Crump Cline is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
@@purplebliss6875
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I hope those burgers were on low heat …
Don’t burn your burgers, lol! Thanks for sharing! I prefer an advisor that charges an up-front fee or hourly rate rather than a percentage. I don’t need someone to manage my accounts, but do need the tax advice.
Yeah. By marker 6:15, those burgers are becoming charcoal. Carbon Kid! I bet someone else stepped in. I havent finished the video yet. Perhaps there's more to consider.
Azul, personal question, if you don’t mind, I thought you were vegetarian, no? Just asking as I am trying to “take advantage of my senior years” and doing what I can to eat better. I see some find a vegetarian diet helpful, others seem to benefit from a more carnivore based plan. I am trying to find a balance with meat protein, vegetables and fruit, and reducing but not eliminating carbs. Any insight into your experience with healthy eating and fitness would be helpful. Thanks!
A balanced diet that gets enough protein, and at least some carbs and fats and you're golden.
Mesoamerican diet: Dishes with beans, nixtamalized corn, pumpkin, amaranto, pumpkin seeds, honey, tomatoes, chile, a diversity of mushrooms.😊❤
Great Stuff here Azul thanks! Question when you mention taking money out of a 401k, like the 4% rule is the amount Gross less 20% to IRS for taxes or net with taxes already out?
Net, I believe, however you can likely pay less than the default 20% deducted (more like 12) unless you are living in a high cost situation pushing you +92K annually
Hopefully I am retiring Jan. 1 at age 54-55. I will be living with expenses of $34,000/year and will only have about that much income. First 7 years before ss at 62 will be SEPP from 401k, small pension, and severance. Then small pension & ss should cover it and 401k can supplement income. That's the plan anyhow. I don't want to work until I die and my health isn't the greatest. This currently depends on if I get the severance package or not though.
That neighborhood looks amazing!!
Hello, I want to start investing, but I'm unsure where to start. Do you have any advice or contacts for assistance?
Half way through & already it’s just not simple !
I’m 50 and was considering long term care insurance. I have no kids and I don’t want to be a burden to my siblings if I need constant care. Can anyone comment on this topic or the insurance itself?
Azul how do you feel about closed end funds for retirement income? I ve been in them since the early 80's and love them but several financial folks I know don't like them. Id love to know your thoughts. Thanks for the motivation to live a great retirement!
From paying for day care and college, to managing mortgage payments. I'm approaching retirement yet inflation is getting worse and recession is biting harder by the day. How can I generate more income to retire with at least $3m for long term care? I have about 750k in savings.
That is so amazing, I’m trying to get onto the investing ladder at 40. I wish at 55 I will be testifying to similar success. investors like you should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Thank you for this tip. It was easy to find your coach on web. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Do you still do personal advisory services
I like the walking and talking, makes the discussion less stuffy!
Where was this filmed? It looks like a beautiful place.
Nice place Azul 😀👍
World's easiest retirement plan; live on less, save more. This does two things for you, you will have more money saved and you will realize you don't need as much.
My financial advisor keeps a set amount. Anything I make more than that, I spend. If I don't make anything that year, I have to live off of my other streams of income, the largest being social security. Three out of five years tend to be positive growth in the stock market. Now that is simple.
500000 X 5% is OK although most folks don't think about the tax at normally for most is 22%=19,500.....Just doesn't get the number they want. Overall great video as always
❤❤Love your videos- so encouraging - Approx cost for a Fee only fiduciary and is it worth it if we don’t have a lot in savings?
How do we know if an advisor is fiduciary?
Ask them
Read the disclosure document they will ask you to sign. Get a copy up front.
One way is to look at how they are paid. If you pay them for a fiduciary relationship, you will likely get that, and you get what you pay for. If they are paid commissions by companies to sell you this products, they are not your fiduciary.
I love the background. What area is this?
I wish I lived somewhere that beautiful to walk!
Azul, you clearly like your burgers very well done!
Lol
Thought he was vegan?
I know, long walk, should be crispy
Im sure he turned the grill off😂 they may be veggie burgers not beef
The continuously changing economic conditions in our society have made it necessary for people to find additional sources of income, thus I am looking at the stock market to fuel my retirement goal of $3m, my only concern is the recent market crash.
for majority, the solution to their problem can be found in specialized knowledge, so you can as well seek guidance from a well experienced advisor
Agreed, despite my rookie knowledge of investing, I have a financial advisor who did the trick in a bit more than 6 months after a lump sum capital of $500k, and I've so far made a fortune. I'm now buying real estates, gold and silver as advised by my FA.
Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve my financial goals.
Monica Shawn Marti is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thanks for the info. I searched for her full name and found her website right away. I reviewed her credentials and did my research before reaching out to her.
Hitting the 22% tax bracket is something that people should look forward to. This bracket does not start until after you pass 89K in income. It is the beauty of a progressive income tax system. And anything pulled from long term capital gains will remain at 20% so there is a bonus.
Actually, it is $61,750 for a single person. I do my planning of income and conversions to remain just below the 22% bracket.
@@ChristopherEvans-650 Sure but you get to subtract: supplemental premium health care costs, and gifts to charities, tax prep costs etc.... Just for kicks run turbotax as a second check your tax preparer. then look at all of the potential deductions(walk me through everything) that might apply to your situation. That my unlock other deductions that you are entitled to or ones that you can plan for in the future. Good luck.
TAXES are the most abusive expense to the Retired.... Tax avoidance is the #1 concern.. especially for the IRA retirees...
And health care
Anyone else worried about the burgers burning? 😂 Thanks Azul, as always you are great at taking some of the mystery out of retirement.
Was the grill even on? I hear no sizzling and I see no smoke... Seems like a corny attempt to use a grill as a prop 🙄
I don’t think that easy and retirement belong in the same sentence. But I’m listening.
Wow… in your “more” section that is a huge declaimer set of paragraphs, gotta love the lawyers and hate we have to protect ourselves that way :/
13 minutes one one side. That’s some well done burgers.
One concern I see many seniors facing is divorce in their latter years and death of a spouse. I’d love to see some actual statistics but from an anecdotal perspective the number of singles in the population here in southern Arizona is nuts. And too many are trying to squeeze out a life by living in 55+ communities or living in an RV in the desert. Shocking how many are basically homeless living in Vans and 20 year old fifth wheels.
Azul, I lover your videos and watch every one, BUT........your explanation on required starting balance and spending 3% vs 4% vs 5% got off track. You actually stated ("mis-stated") that if you plan on spending 3% you need $825k starting balance, 4% spending you need $625k, and 5% you only need $500k. I know you know what you are talking about, but mixed and matched SPENDING with required SAVINGS Returns.
No, he's saying that for any given income requirement, you could retire with a smaller starting balance but it's riskier.
What about 500k in a 5% dividend fund?? Seems easier.
A non-diversified stock fund would add more risk, not less. Growth stocks have been having a phenomenal past few years.
A fund that's value outpaces inflation, every year, without exception and yields 5% every year, without exception, sounds like a Bernie Madoff fund to me.
@@jmnthe3rd How would that be ‘non-diversified?’ I’m talking about a dividend ETF.
@@MrTavis1 which one?
0:06 I really don’t think they should be calling you that! 😂
lol
Taking 80k and reducing it and then trying to take more out of the retirement account to get less and troubling yourself over 1 percent idea?! Why not take less than 80k let the money grow then you can take more later on and you may be taking more few percent okay later on.
#1 know your epenses.
"Retirement isn’t an end goal, but a journey best secured by careful and consistent investments."
Well said! Retirement is the reward of disciplined investing over the long term, not just a destination.
Well said! My adviser guided me through retirement planning, ensuring my investments were strategically positioned for long-term rewards.
That's a great point! Finding a reliable financial adviser would be essential for me to ensure my retirement plans are well-structured.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further.
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you
Marquardt Terrace
How do most of you guys still make profit, even with the downturn of the economy and ever increasing life standards
Well, I picked the challenge to put my finances in order. Then I invested in cryptocurrency, stocks, through the assistance of my discretionary fund manager
Mrs Nancy Williams Laplace
Would of been a better video in a desktop office setting too much math for a walking video.
Heres my version: #1 You make us dizzy when you walk around #2 Do not retire until you HAVE to retire #3 You will spend in retirement as much as you always do (100%+) #4 Keep quitting jobs till you get one with decent health care and a 401k #5 Get 100% of match #6 Invest 100% in the S&P 500 till age 50 (the rich who own 90% of all stocks and run the government will never allow the market to go down for long) and then ease off a little if you cant stop yourself #6 Take out as little as possible. Super easy.
Retirement is ok until you get hit with surprise costs. I'm on Medicare and just found out that a medication that I take will cost in the thousands next year. This year, a 90-day prescription costs $4.
It is an antidepressant, so I can't just switch over. Very bad situation. I hope I don't live too long. Will wind up on the street.
I feel like if your waiting for enough money to retire, you will never retire.
Kay Underpass
I recently sold some of my long-term position and currently sitting on about 250k, do you think Nvidia is a good buy right now or I have I missed out on a crucial buy period, any good stock recommendation on great performing stocks or Crypto will be appreciated
I don't really blame people who panic. Lack of
information can be a big hurdle. I've been
making more than $100k passively by just
investing through an advisor, and I don't have
to do much work. Inflation or no inflation, my
finances remain secure. So I really don't blame
people who panic.
nice!! once you hit a big milestone, the next comes easier. How can i reach her, if you don't mind me asking?
look up her name on the web for her website.
I've just looked up her full name on my browser and found her webpage without sweat, very much appreciate this.
So many Bots!!
I’ve got a headache and by the way your burgers are burnt
I have been vegetarian for 3 years, and I love it. However, my eating habits are so bad. I gave up meat and increased on junk food. I am 10 pounds over my ideal weight. I exercise 6 days a week. Good luck to you. I am still a work in progress😊
...and this is related because of the burgers?
Just get to the point
I like how the comments are focused on the burgers, but the real problem right now is how the price of eggs is cutting away at my retirement. Hmm it's always the breakfat meal.
I'm favoured only God knows how much I praise Him, $230k every 4weeks! I now have a big mansion and can now afford anything and also support God’s work and the church.
Wow that's huge, how do you make that much monthly?
I'm 37 and have been looking for ways to be successful, please how??
I started pretty low, though, $5000 thereabouts. The return came massive. My son is in school doing well, telling me of new friends he's meeting in school. Thank you Anita Jo Humphrey you're a miracle
Access to good information is what we investors needs to progress financially and generally in life. this is a good one and I appreciate
Hello , I am very interested,, how cvan i reach her
We all understand the fate of those who reject the pursuit of ever-growing wealth, as shown in Luke 12:13-21. The Parable of the Rich Fool reminds us why many refuse to settle for complacency and retirement.
Jesus welcomed the refugee and fed the poor.
Stop The Walk n Talks !!! It’s so Annoying. 😂 👎. Just sit a a well lit desk if you want to give Advice
I love the walks! Love seeing different backgrounds, especially in nature. 😊
The at desk videos usually involves some nice graphics which we dont see on a walk around.
STOP WALKING SO ANNOYING