I came across your videos just as I was getting ready to retire about a year and a half ago. I honestly have to say they’ve been among the most valuable resources I have found. Thanks so much for all the great advice.
I’d be retiring or working less in 5 years, and considering this financial recession, I’m curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $250K per year but nothing to show for it yet.
Very true, I find myself lucky enough exposed to money management at an early age. Worked full time when I was 19, purchased first home at 28, fast forward time... I'm 50 now, got laid off March 2020 amidst lockdown, a blessing in disguise. At once, I consulted an advisor to stay afloat and with subsequent investments, I'm only 15% short of $1m as of today.
@@Jennapeters144 this is huge! would love to grow my reserve regardless of the economy situation, my 401k has lost everything accrued since early 2019, at this point, i'm in need of guidance, can you point me?
@@simone_maya I’ve shuffled through a few experts in the past, but settled with ‘LOREN LENA WALKER’. The strategy they use is recession-proof, more specifically profit-oriented, and most likely, you'd find her basic info on the net, she's a renowned advisor.
@@Jennapeters144 thanks for info! curiously copied and pasted her full name on my browser, spotted her page easily, she actually looks very distinguished
You comments about relationships health and time really resonate. I grew up poor and have been obsessed with building wealth, at the expense of building meaningful connections with people. Of course, I want to have a comfortable retirement and that requires money, but how much enjoyment will you really get out of retirement if there is no one else around you? I suspect, not much. I'm working on creating a healthier balance between all of these factors. It's not easy changing how you approach life, especially after decades of doing things a certain way, but after working for nearly 50 years I am determined to have a fulfilling retirement!
It’s very true I’m like u came to this country with nothing. Work hard to get to this stage . We r better off now but find it very lonely . Kids are grown up have their own life. So it’s just me and my husband . I guess we just have to try to enjoy life with the best we can.
Great point that you make. Happy for you. I lost my wife 2 years ago at a way too young 52 yrs of age after 26 yrs of marriage. I'd have gone crazy had it not been for needing to stay focused on our 2 teen daughters. But, our hopes and dreams are in the past. The money? Now meaningless.
In fact, you need a professional advisor to help you. I am currently trading with "Dan Price CFA" and he is the best person to make high profits in the market.
Until then, I had little to no profit from the market until I met "Dan Price CFA" at -------- and he planned my investments for me, which was the most important thing for me.
Strong content as always. But I must say that when it comes to finance, the happiest retirees that I know ( includes me) are those with abundant, predictable income. It makes such a difference.
Good stuff! Outlive is one of two books I bought this year. The other is the soon to be released second edition of "The Four Pillars of Investing" by Bill Bernstein. Thanks!
I do not agree that people with retirement savings should wait to take social security. There is always the chance that politicians will take your Social Security benefits (needs based) and you will get nothing or very little. It is better to get at least something.
There's also the chance the government could take your retirement savings instead of your social security. Argentina did that to the tune of 30 billion dollars in 2008, replacing people's retirement assets with questionable government IOU's.
What about taking SS at 63 next year (me) when my five year older husband has taken his at already at 66.5 (beyond full retirement age). That will keep us from withdrawing from our IRAs and avoid the sequence of returns problem with the market down. Chances are he’ll pass away before me and then I will switch to his SS. Thank you.
I think processed food and air pollution, obesity, laziness, etc. is actually shortening life a bit. Look at all the people lived to 90s and 100 a gen or two ago, now so many dying in 60s and 70s.
Anybody who needs $75k a year is 1) a spendthrift, 2) spoiling their kids/grandkids, 3) trying to keep up with the Jones, 4) way into drugs/alcohol, or 5) gambling. If these are problems you'll never have enough $$$$$.
I came across your videos just as I was getting ready to retire about a year and a half ago. I honestly have to say they’ve been among the most valuable resources I have found. Thanks so much for all the great advice.
Thank you for the kind words!
I’d be retiring or working less in 5 years, and considering this financial recession, I’m curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $250K per year but nothing to show for it yet.
Do you have a 401k? you should contribute to your retirement diligently, or better still look into financial planning
Very true, I find myself lucky enough exposed to money management at an early age. Worked full time when I was 19, purchased first home at 28, fast forward time... I'm 50 now, got laid off March 2020 amidst lockdown, a blessing in disguise. At once, I consulted an advisor to stay afloat and with subsequent investments, I'm only 15% short of $1m as of today.
@@Jennapeters144 this is huge! would love to grow my reserve regardless of the economy situation, my 401k has lost everything accrued since early 2019, at this point, i'm in need of guidance, can you point me?
@@simone_maya I’ve shuffled through a few experts in the past, but settled with ‘LOREN LENA WALKER’. The strategy they use is recession-proof, more specifically profit-oriented, and most likely, you'd find her basic info on the net, she's a renowned advisor.
@@Jennapeters144 thanks for info! curiously copied and pasted her full name on my browser, spotted her page easily, she actually looks very distinguished
You comments about relationships health and time really resonate. I grew up poor and have been obsessed with building wealth, at the expense of building meaningful connections with people. Of course, I want to have a comfortable retirement and that requires money, but how much enjoyment will you really get out of retirement if there is no one else around you? I suspect, not much. I'm working on creating a healthier balance between all of these factors. It's not easy changing how you approach life, especially after decades of doing things a certain way, but after working for nearly 50 years I am determined to have a fulfilling retirement!
Good for you!!
It’s very true I’m like u came to this country with nothing. Work hard to get to this stage . We r better off now but find it very lonely . Kids are grown up have their own life. So it’s just me and my husband . I guess we just have to try to enjoy life with the best we can.
Great point that you make. Happy for you. I lost my wife 2 years ago at a way too young 52 yrs of age after 26 yrs of marriage. I'd have gone crazy had it not been for needing to stay focused on our 2 teen daughters. But, our hopes and dreams are in the past. The money? Now meaningless.
Of course I am running my plan into our 90s. My father lived to 88. My mother lived
to 95. My mother-in-law is alive at 93.
I must say you are an inspiration as I was a scared investor and I am happy to say that I am now successful.
In fact, you need a professional advisor to help you. I am currently trading with "Dan Price CFA" and he is the best person to make high profits in the market.
Until then, I had little to no profit from the market until I met "Dan Price CFA" at -------- and he planned my investments for me, which was the most important thing for me.
Very true and u hit a lot of good point esp. #6
Strong content as always.
But I must say that when it comes to finance, the happiest retirees that I know ( includes me) are those with abundant, predictable income.
It makes such a difference.
I think he woud agree with you. But I think he is also talking about everything else, after looking at income.
Excellent points raised, especially about the non financial aspects of retirement.
Brilliantly crafted, as. usual. Thanks for the steady advice
Very insightful Eric - #7 is a gem ! This is the Best Channel for meaningful, practical content for managing the road to and through retirement!
Thank you Paul!
Spot on content as usual Eric! Thanks for your efforts to share your knowlege, observations and advice. Larry, Bakersfield, Ca.
Amen brother on point number 7!!
Good advice, much appreciated. I’m spending now, delayed Social Security using IRA and conversions to Roth. I’m an income investor, very conservative.
Good stuff! Outlive is one of two books I bought this year. The other is the soon to be released second edition of "The Four Pillars of Investing" by Bill Bernstein. Thanks!
Love Peter Attia, great info
I do not agree that people with retirement savings should wait to take social security. There is always the chance that politicians will take your Social Security benefits (needs based) and you will get nothing or very little. It is better to get at least something.
There's also the chance the government could take your retirement savings instead of your social security. Argentina did that to the tune of 30 billion dollars in 2008, replacing people's retirement assets with questionable government IOU's.
Great video
What about taking SS at 63 next year (me) when my five year older husband has taken his at already at 66.5 (beyond full retirement age). That will keep us from withdrawing from our IRAs and avoid the sequence of returns problem with the market down. Chances are he’ll pass away before me and then I will switch to his SS. Thank you.
"Maybe this video is noise." Nope. Signal. I'm really quite certain this was signal.
I think processed food and air pollution, obesity, laziness, etc. is actually shortening life a bit. Look at all the people lived to 90s and 100 a gen or two ago, now so many dying in 60s and 70s.
I don’t think that is accurate. There has been a slight reduction in life expectancy, but those living to 90 and 100 pretty much the same
Look at your family history, not the population as a whole. No one in my family has ever made it to 80, back to 12 generations.
Good point, genes definitely matter.
Anybody who needs $75k a year is 1) a spendthrift, 2) spoiling their kids/grandkids, 3) trying to keep up with the Jones, 4) way into drugs/alcohol, or 5) gambling. If these are problems you'll never have enough $$$$$.