5 Big Retirement Mistakes To AVOID
ฝัง
- เผยแพร่เมื่อ 17 ต.ค. 2024
- 🔥 Azul's Newsletter: www.azulwells....
❓ Ask Azul a question ➡ forms.gle/85rV...
🔥 Follow Azul on Twitter: / azul_wells
💲 NEED FINANCIAL ADVICE? 💲
1) Google "fee-only financial adviser" or visit www.NAPFA.org (largest association of fee-only financial advisers). NOT an affiliate link
2) The first question to ask any financial adviser is, "Are you a fiduciary to me 100% of the time". Get the answer in writing
3) Please note that some people call themselves "fee-based". This is NOT the same as fee-only. Fee-only advisers have committed to being fiduciary to you 100% of the time.
4) Personally, I would only hire an adviser who is a fiduciary to me 100% of the time. This is not a suggestion on what you should do. Just sharing my personal preference.
⚠️ Azul's "Scammer" Warning ➡ PLEASE READ! ⚠️
Be careful of scammers. In the comments section, I will NEVER ask you to contact me, offer any investment products, recommend a stock broker, or anything similar. Some scam bot commenters 'ask' for investment help, and later, other comment bots reply with "how great X idea/investment/person is" in the replies. These are scam threads. Do not fall for them.
🚨 Azul's VIDEOS ARE NOT FINANCIAL ADVICE (Disclaimer) 🚨
This information is only provided as an informational resource and should not be viewed as investment advice or recommendations. To get professional financial advice from a fee-only financial advisor near you, please visit www.napfa.org.
The decisions on how to invest, when to retire, and other financial planning topics are some of the most important financial decisions you will make in your life. I urge you to seek professional financial advice as you make this decision. Ideally, from a financial adviser, AND a CPA AND an attorney. Having the perspective of all three professions will help you make the right decision for you and your family.
This information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and may NOT be suitable for all investors.
This information is NOT intended to, and should NOT, form a primary basis for any investment decision that you may make. Always consult your own legal, tax, and/or investment advisor before making any investment/tax/estate/financial planning considerations or decisions.
Spoiler Alert: There are no "get rich" programs. Rather, just basic blocking & tackling and putting in time and care. Do your homework, choose wisely and (IMHO) work with experienced professionals who are fiduciary to you 100% of the time.
*161 RAW B{Nusrat}[NE]5 Big Retirement Mistake YOU MUST AVOID at all costs
![[Gegagedigedagedago] NEW Help Gegagedigedagedago Nugget escape from Nikocado Avocado Challenge](http://i.ytimg.com/vi/hJWnwRC2Fz8/mqdefault.jpg)
![⭐ฮิตในTikTok!! ( มะมะมะหมูเด้ง MooDeng ) Ver. แดนซ์ ReMix BY [ ดีเจกิต รีมิกซ์ ]](http://i.ytimg.com/vi/4noyAoMa7bQ/mqdefault.jpg)
I’d be retiring or working less in 5 years, and only curious to know how best people split their pay, how much goes into savings, spendings or investments? I earn around $200K per year but nothing to show for it. I'm considered HENRY (High Earner Not Rich Yet)
consider financial planning, don't be a marketing niche for luxury brands like Gucci and Tag Heuer without having your income reproduce more money for you
I’m quite lucky exposed to personal finance at early age, started job 19, purchased home 28. Going forward, got laid-off at 36 amid covid-outbreak, and at once hired an advisor to help soar. As of today, my portfolio has yielded over 300%, just about 10% shy of $ 1m.
@@okaydamian ambitious! mind sharing basic info please? in dire need of proper investment planning for my eventual retirement
Can't divulge much, I delegate my excesses to someone of great expertise ''Karen Lynne Chess'' preferably you can look her up online, her qualifications speak for itself.
curiously inputted Karen Lynne Chess on the web, spotted her consulting page, and was able to schedule a call session, no sweat. Ive seen commentaries about advisors but not one looks this phenomenal
Retirement planning can be such an important but complex process. It’s really about understanding not only how much money you’ll need but also when you’ll need it.
It’s interesting how many people overlook inflation when planning for retirement. The cost of living keeps rising, and it can really impact the purchasing power of your savings over time.
Another thing I’ve learned is the importance of diversifying investments in retirement. Relying on one source of income or investment can be risky, especially with market volatility.
Have you thought about the lifestyle you want in retirement? Whether it’s traveling, downsizing, or picking up new hobbies, it plays a huge role in how much you’ll need to save.
One thing I’ve come across is the need to factor in healthcare expenses. Medical costs tend to increase as we age, so it’s essential to account for that in your retirement plan.
I’ve seen people recommend having a mix of liquid assets and longer-term investments for retirement. That way, you have access to cash for unexpected needs but also get the benefit of long-term growth.
Beware the SCAMMERS!
I love your phrase "health is more important than wealth". That is so true.
Retirement is now more difficult than it was in the past. I've been saving for a long time instead of investing, and right now I only have about $400K. considering all the inflation, i'm thinking of investing in stocks, i dont just have idea on market strategies.
At a point like this, when the pressure is already on you to retire, it’s best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.
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 $30k passively 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.
Do you mind sharing info on the advisor who assisted you?
Stacy Lynn Staples 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.
thank you for putting this out, it has rekindled the fire to my goal... was able to spot Stacy after inputting her full name on the web, she seems highly professional with over a decades of experience.
Thank you so much for this sharing, I really appreciate it. I believe you because you are going through your retirement age.
any remote work you can give?
People would believe in the rise of the stock market if they have a "reason" to assume the market will rise. Here's the biggest reason that NO ONE is talking about. The baby bust dropped to lowest point in 1973 (when my sister was born). Only 3.1 million babies. However, my sister is now 50, and if she is the lowest birth point in this country, and the average person/couple invests the most money they ever will at ages 46-52 (Harry Dent), then from this point, year after year, more and more people will turn 50 till 2008 (latest baby peak)+50 (2058). More and more people every year will turn 50 and invest the most they will ever invest. Looks to me like investing in stocks now is very similar to when the baby boomers first started investing in stocks (1980ish), and we know what happened then ...
You didn’t take into account all the immigration that has taken place in the last 50 years.
@@silentnot4812 I assume you have numbers as to how many immigrants, legal or illegal, came across the border? The number of American citizens is around 330 million. What numbers you got? If its less than 33 million they arent having much effect.
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
You are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
I'm 63, retired, and I've had my money in S&P 500 funds (100℅ stock) since I started investing. I have made a great deal of money with my FA Layan Talia Chokr and I see no reason to change. The S&P 500 has made an average of 9.8% returns over the past 100 years. International and Bond funds are losers in my opinion because they don't make much money. This is just my amateur opinion which may not work for everyone
How did you manage to succeed? I want to invest more wisely because I have a lump sum that inflation is slowly depleting
Finding FAs like Layan Talia Chokr 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.
wow i just found her while i jump into this conversation now.
wow this is massive i found her now too thanks so much for the information
Who needs a financial advisor to invest in an S&P 500 fund? This post is SPAM.
I have friends who are doing very well, mid 70s who took everything out of the stock market and it is all in a safe high yield savings account, they sleep very well at night and have two military pensions and SA so they don't HAVE to get more than 5%.
Thank for the content!!! All we need is the right advice on how to invest in crypto and we will be set for life , made $28k from trading crypto and stocks.🚀
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
Yes! I'm celebrating £32K stock portfolio today...
Started this journey with £3K.... I've invested no time and also with the right terms, now I have time for my family an…
Your channel and followers are growing!!! So proud for you. Thanks for all your care.
five years in cash earning more than inflation; everything else in diversified equities and REITs. very simple and effective. no need for bonds.
You should site actual years when u talk about historical financial events. Otherwise, no one knows what you’re talking about.
I am making ramped up payments on two car notes and a mortgage that basically makes my other expenses about 50% of my bring home, which will be about what I expect my retirement income to be. I've been doing that for a year- so far, so good.
I love that you emphasize health in your videos!
*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*
wow this awesome 👏 I'm 47 and have been looking for ways to be successful, please how??
It's Lisa Annette Robinson doing, she's changed my life.
I do know Ms. Lisa Annette Robinson , I also have even become successful....
After I raised up to 325k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸 also paid for my son's surgery (Oscar). Glory to God.shalom.
Absolutely! I've heard stories of people who started with little to no knowledge but made it out victoriously thanks to Ms. Lisa Annette Robinson .
I was a stay at Home mom with no money in my IRA or any savings of my own,which was scary at 43 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 46 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Kathie. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.
How can I reach your CFA, if you don't mind me asking?
Well her name is 'Kathie Daisy Bosco' just research the name. You'd find necessary details to work with a correspondence to set up an appointment
I know this lady you just mentioned. She is a portfolio manager and investment advisor. She gained recognition as a former employee at Goldman Sachs; a renowned investor she is. She has demonstrated expertise in investment strategies and has been involved in managing portfolios and providing guidance to clients.
Been debt free for two years thanks to Kathie Daisy Bosco. So sad to see my friends in their 40s with car loans, mortgages and credit card debt.
The thing is people often doubt the prospects of financial advisors like Kathie Daisy Bosco in business/markets today. Well it gives me more time to get ahead while they stew in their own pity and doubts as they childishly complain about those spreading the word.
Azul you should research the CAPE ratio and see if you still think stock allocation should be what they were historically for success.
Why is your volume so low
Great advice on avoiding common retirement mistakes, especially about not being too pessimistic with investments. I’ve been thinking about diversifying more, and recently started rolling some of my savings into crypto with My Digital Money. Feels like a good hedge for the long term. Anyone else exploring crypto for retirement planning?
I love that you point out the lower left to upper right trajectory the stock market proves to follow over and over again. The people who say “the market’s too high, therefore a crash/correction is inevitable” crack me up because they don’t zoom out enough to see the big “lower left to upper right” perspective.
I agree with your first point, except I'd phrase it differently. People in retirement are not "optimistic" nor "pessimistic" about their investments. Instead, they are all concerned about the security of their investments. They consider themselves "cautious", not "pessimistic".
They think that avoiding the ups-and-downs of the stock market is a safe way of preserving their savings. In the short term, their reasoning holds up.
However, in the long run, they end up (as you phrase it) "leaving a lot of money on the table". Had they invested their money in the stock market, they would be in a much better financial position than by letting their money loiter in a savings account.
All time highs on a regular basis.
That is hilarious. Sell euphoria, buy panic and despair.
Buying anything at all time highs and hoping it will go even higher is a fool's game.
Good luck to all.
Seems there are all time highs every few years, though.
I really enjoy your videos, but I still feel that the majority of Americans can, and will, rely on the "nanny state." There is so much welfare and social programs in the US, many feel that the government will take care of them and will always bail them out. That includes those on welfare, college tuition programs, Social Security. And now even add the 10 or 20 million illegals who have walked into the US for everything "free". Why would they not come here. Anyway, the majority of Americans feel the government will (and always DOES) bail them out.....~
No Nanny, 45 years of work enjoying SS max at 55K. No Nanny money until age 70. Just a reality check WAR and police the world are the main expenses of the killer Nanny ! Turn off the teevee to live free,
No msm since first gulf war in 1991, so no wolfie. Result positive attitude for 34 years by reading and watching positive materials. Now we can not have network teevee on for even 5 minutes too stupid. Retired 9 years the 2 million grew to 3 million in first 5 years 2016 to 2020 mostly B50/S30/C20. You just can not spend all the money. Travel and long term rentals bonus avoid the buy another house issue. We rent 3 months in Waikoloa Beach Hawaii for scuba diving weather and return to Easton MD for 3 months then back to Hawaii 3 months each year plus other trips. Example 6 months rental of 1.2 million condo is less than 50k. Agree Azual Health. Another reason for savings 2021/22 spent $170,000 for alternative medical care to recover from the damage of cancer treatments and to stay cancer free. Moved to bonds in 2000 and 2009 not luck . Major medical complaint by patients in wife's GYN practice 2000 to 2013 "my husband lost all the money in stock market".