I spent the day yesterday watching most of your videos. You inspired me a lot to start planning for my retirement very seriously. Starting from today and will never look back
Hello, new sub here. I just found your channel. Although I am still working at 65, long story, I am planning for retirement. I appreciate your transparency and willingness to share with us. Wish you all the best with your channel and retirement. Will be following your progress. All the best.
You really inspire me to learn more about investing. My husband has done ours for decades and he does really well but I have come to realize as we grow older that I need to know also. Thanks for your channel.
Love how transparent you are. My bucket 1 is high right now but I like the risk and hassle-free yield especially when equities are so frothy. Excellent video!
Good luck on the channel! Off to a great start....As you mentioned you just moved some funds into a Fidelity account (no I'm not a fidelity rep..😆) its worth mentioning they have a retirement calculator (or retirement planning calculator) you can crunch some numbers in as well (in case you were interested in something like that). Again....good luck on the channel! Oh...and once you get things going here you can add this channel to your INCOME BUCKET (every little bit helps).
As a widower it's nice to see someone providing honest financial discussion as a single person. I retired at 55 partly because I feel I won't need as much money to care for my partner as well. It's becoming more a reality in the upcoming generations. I am also considering relocation, from NJ ( which is the highest property tax state in the nation.) the Carolina's are nice!
Trena, thanks for sharing. I'm a fan of your candor. I worked at the IRS for 22 years and found it odd that many of my peers didn't want to discuss money. They wanted to talk about sex and sports but not money. I didn't want to discuss their balance, just their thoughts on "Jack Bogle" and others. I'm a big fan of Jack Bogle and Vanguard. Spoiler alert: Bogle died in 2019. Bogle gave over 100 hours of interviews and speeches, and he wrote 11 books. One of the most amazing things about Jack Bogle is that he founded Vanguard by himself virtually; Jack's net worth at his death was 80 million. Meanwhile, the founders at Blackrock (four founders) are worth billions. Go figure!!!! Jack walked the talk.
Thank you for your transparency & that you're not pressuring to sell a program. Like your fence, I have expenses like supporting family, medical, storm damage, even surgeries for the pets - and I live simple. Still those expenses burned 25% of my savings from age 60 to 64+, taking SSA at 62. Like to hear about your monthly money going out (details not required)
great financial discipline and strategy!... sounds like you have a great long term plan as well as the needed flexible to deal with your day to day events ... hope your son is enjoying his experience in the navy (and Virginia is a great place to "come home" for the military members), maybe he's going to make it a career (the military is a great career)
Thanks! He is loving the Navy and has decided to make it a career. He was stationed in Alexandria for a while and he hopes to get back there. It would be nice to have him close!
New subscriber here. Thank you for your transparency. I’m 52 and plan to retire at 55. I am setting my accounts similar to what you have. Pull from bucket 1.
Well done and yes, it is shitty of companies to charge you to leave their funds. I wonder if they still have access to your money if you leave it in their managed account? I know Enron changed those rules, so I should go check that out. I'm nervous about folks who share their real dollars on the internet. There's transparency, sure, but I'm personally uncomfortable with sharing that kind of information with anyone, let alone the world. You've done very well with your investing. Congrats!
New subscriber here. Can you share how you plan to leverage the equity in your home to pay for medical costs? Also, can you talk about the CD ladder - what it is and how you're using it in your retirement plan? Thank you!
Welcome to the channel! I will add those topics to my create videos list! For the CD ladder, essentially it is when you open a number of CDs with different maturity dates. This way I can take advantage of higher APYs offered on longer-term CDs, without locking up my cash for a long time. Hope this helps.
Hi! My monthly expenses are $3800, and I can drop it down by another $400 or so if I needed to. I am taking cash out of my savings right now and haven't had to draw down on any investments yet.
when you say moving from deposits to Etfs with guaranteed returns, that is not always the case, because u need to place orders to buy etfs, and prices can be at highs, then the market can drop
Nice video, I love to see how others are palnning their finances. I am curious to see how it works out for you. I have subscribed and I see you are very close to that 1K mark, congrats.🙌🏼👊🏼
I have a descent amount of pension income which aids me in keeping a high risk tolerance. (which I have always had). Being in some higher risk/higher reward investments is one way to keep ahead of inflation. When you eventually take Social Security you may feel more comfortable to go after some higher returns with more of your nest egg to keep ahead of inflation. The last 3 years or so have been brutal. Smaller gains are actually going backwards.
She has over 200k in "cash" lol. She's good for at least 3 years. Then at 62 with social security she won't have to withdraw as much from her portfolio. Plus when her house gets paid off that drops her expenses even more. She has a nice setup.
@@retirethisway- You said your buckets all went up but your emergency cash went down but less than your expenses. So I was confused as you didn’t say you were pulling from your other buckets. I didn’t realize you were pulling from your buckets as well, I thought they were untouched and growing.
@@FilamentFriday I’m not sure how this got so confused for you! I’ve only pulled from bucket 1. Buckets 2 and 3 grew from interest and market growth. That’s what I mean when I say my portfolio is up. I am talking about growth
Do you have an HSA in retirement? I have the ability to have one in retirement until hit age 65 and then the HSA contributions have to stop because of Medicare. I will max it out until I have to stop.
I’m curious about the plan to take SS at 62. It’s a huge decision and taking it early is generally not advised. Im curious if you’ve modeled this decision?
@@retirethisway I’m not questioning your judgement here, just for anyone else reading this. There are a lot of dynamics involved in the decision about when to take social security, particularly for anyone going into retirement single. For many of us it’s the single most valuable retirement asset we have, with inflation adjustment, and when we take it impacts taxes on everything from Obamacare to Medicare, as well as all other retirement distributions. If you haven’t spoken to a fee only financial advisor who does actual retirement tax planning, please don’t just take it based on one your spreadsheet says. It’s a huge decision to take it early and getting it right is worth paying a modest fee to someone who can help you make the right decision for you. In case you’re curious, I’m not a financial advisor, nor do i work in the industry. But i am planning my own early exit from work and everyone, and i mean everyone, has advised me - do not make the SS decision without having someone first properly model your retirement for you. It’s a huge decision that you’ll live with for the rest of your life.
Congrats on your portfolio doing great. However, you should think about and factor in inflation. Since Biden took office, inflation is up over 20%. No, I do not want to get this into a political discussion!!! The facts are that EVERYONE needs to keep in mind that if their portfolio is about the same as when Biden took office, then their portfolio is actually down 20%. Since you are recently retired, maybe this has not really affected you. However, for those who have been retired, if their portfolio has not gone up 20% over the past 4 years, then they are actually losing, financially, because of inflation, since cost of living has gone up 20%. Our dollars just do not go as far now. Hope everyone is doing well...
@@retirethisway Most will think that I may be taking excessive risk(s) because most of my investments are in stocks and some ETFs. Not just any stocks, though.. Most of my stocks consists of larger companies that pay annually growing dividends and those stocks also have a long(er) term history of paying those growing dividends. Also, almost all my stocks have shown capital appreciation (growth). That combination of "features" of the stocks that I own make them really special. I definitely made some mistakes along the way with some poor decisions, but that was part of how I learned things. For the most part my research has helped me pick some very good stocks that I will probably hold forever. I have done a lot of financial learning over the years. I have been retired over 9 years and the amount of dividends (income) I receive has increased every year, consistently. Those dividend increases have exceeded inflation even during Biden's administration. When I was approaching retirement, I thought long and hard about how drawing down my 401K/TIRA, would affect my retirement. I didn't want to worry about dwindling retirement assets, so I needed to figure out a method to minimize the drain on those assets. I am now at the point where my S.S. benefit and dividend income are close to supporting my cost of living without having to draw down or sell any of my retirement assets. Some may call me lucky, but I don't look at it that way. It was not luck. I put in the work to did the research, made mistakes, and learned. I think anyone could do this, since I have been able to. However, most won't put the time and effort that I have put in. Too many people have the "get rich quick" mentality. That may work for a few, but for the most part it doesn't. It takes time and effort, but it has been worth it.
@@retirethisway - Most will think that I may be taking excessive risk(s) because most of my investments are in stocks and some ETFs. Not just any stocks, though.. Most of my stocks consists of larger companies that pay annually growing dividends and those stocks also have a long(er) term history of paying those growing dividends. Also, almost all my stocks have shown capital appreciation (growth). That combination of "features" of the stocks that I own make them really special. I definitely made some mistakes along the way with some poor decisions, but that was part of how I learned things. For the most part my research has helped me pick some very good stocks that I will probably hold forever. I have done a lot of financial learning over the years. I have been retired over 9 years and the amount of dividends (income) I receive has increased every year, consistently. Those dividend increases have exceeded inflation even during Biden's administration. When I was approaching retirement, I thought long and hard about how drawing down my 401K/TIRA, would affect my retirement. I didn't want to worry about dwindling retirement assets, so I needed to figure out a method to minimize the drain on those assets. I am now at the point where my S.S. benefit and dividend income are close to supporting my cost of living without having to draw down or sell any of my retirement assets. Some may call me lucky, but I don't look at it that way. It was not luck. I put in the work and did the research, made mistakes, and learned. I think anyone could do this, since I have been able to. However, most won't put the time and effort that I have put in. Too many people have the "get rich quick" mentality. That may work for a few, but for the most part it doesn't. It takes time and effort, but it has been worth it.
Inflation in this case was a result of the economy ramping back up after covid with a ton of new money in the economy due to the stimulus packages and the delayed spends caused by the pandemic. Take a look around the WORLD. The same was true everywhere.
I spent the day yesterday watching most of your videos. You inspired me a lot to start planning for my retirement very seriously. Starting from today and will never look back
Wow, I am really honored you spent so much time on the channel. Thank you! I hope my videos are helpful to you!
@ they opened my eyes so widely . Thanks a lot
Also you retired not only financially stable but also beautifully 👌
Hello, new sub here. I just found your channel. Although I am still working at 65, long story, I am planning for retirement. I appreciate your transparency and willingness to share with us. Wish you all the best with your channel and retirement. Will be following your progress. All the best.
Welcome to the channel! I am so glad you found me. I hope I can help you get ready for your retirement.
You rock! Very inspiring. I switched my HSA to fidelity a year ago and never looked back. No fees and no 1k minimum before you can invest nonsense.
Yay! Thanks so much!
You really inspire me to learn more about investing. My husband has done ours for decades and he does really well but I have come to realize as we grow older that I need to know also. Thanks for your channel.
Kimberly you should definitely learn all you can! Thanks so much for tuning in!
Enjoying your new channel! Would love your to include any withdrawals, personal budget etc.
All is very helpful and loved this video.
Keep it up 😊👍🏻
Thanks, that’s great feedback! So glad you found my channel!
Love how transparent you are. My bucket 1 is high right now but I like the risk and hassle-free yield especially when equities are so frothy. Excellent video!
Thanks so much!
Good luck on the channel! Off to a great start....As you mentioned you just moved some funds into a Fidelity account (no I'm not a fidelity rep..😆) its worth mentioning they have a retirement calculator (or retirement planning calculator) you can crunch some numbers in as well (in case you were interested in something like that). Again....good luck on the channel! Oh...and once you get things going here you can add this channel to your INCOME BUCKET (every little bit helps).
Thanks for the info! I appreciate it!
As a widower it's nice to see someone providing honest financial discussion as a single person. I retired at 55 partly because I feel I won't need as much money to care for my partner as well. It's becoming more a reality in the upcoming generations. I am also considering relocation, from NJ ( which is the highest property tax state in the nation.) the Carolina's are nice!
Thank you! And the Carolina’s are beautiful!
Thank u for sharing your portfolio. That is very generous of u to do so.
Thanks Karen! I hope it is helpful for you.
(From California) Thank you for sharing.
You are very welcome!
Trena, thanks for sharing. I'm a fan of your candor. I worked at the IRS for 22 years and found it odd that many of my peers didn't want to discuss money. They wanted to talk about sex and sports but not money. I didn't want to discuss their balance, just their thoughts on "Jack Bogle" and others. I'm a big fan of Jack Bogle and Vanguard. Spoiler alert: Bogle died in 2019. Bogle gave over 100 hours of interviews and speeches, and he wrote 11 books. One of the most amazing things about Jack Bogle is that he founded Vanguard by himself virtually; Jack's net worth at his death was 80 million. Meanwhile, the founders at Blackrock (four founders) are worth billions. Go figure!!!! Jack walked the talk.
How interesting. I didn't know that about Jack. Thanks for sharing!
Thx for these video. It really helps and easy to understand
I’m glad it was helpful!
Thank you for your transparency & that you're not pressuring to sell a program. Like your fence, I have expenses like supporting family, medical, storm damage, even surgeries for the pets - and I live simple. Still those expenses burned 25% of my savings from age 60 to 64+, taking SSA at 62. Like to hear about your monthly money going out (details not required)
You are very welcome!
great financial discipline and strategy!... sounds like you have a great long term plan as well as the needed flexible to deal with your day to day events ... hope your son is enjoying his experience in the navy (and Virginia is a great place to "come home" for the military members), maybe he's going to make it a career (the military is a great career)
Thanks! He is loving the Navy and has decided to make it a career. He was stationed in Alexandria for a while and he hopes to get back there. It would be nice to have him close!
subscribed! 🙂
Thank you so much! And welcome!!
New subscriber here. Thank you for your transparency. I’m 52 and plan to retire at 55. I am setting my accounts similar to what you have. Pull from bucket 1.
@@havechopstickswilltravel2990 welcome to the channel! I am glad I can be of service! 55 is a fine time to retire. 😀
Commenting for $$$$
Well done and yes, it is shitty of companies to charge you to leave their funds. I wonder if they still have access to your money if you leave it in their managed account? I know Enron changed those rules, so I should go check that out.
I'm nervous about folks who share their real dollars on the internet. There's transparency, sure, but I'm personally uncomfortable with sharing that kind of information with anyone, let alone the world. You've done very well with your investing. Congrats!
Thank you! Sharing my financials was a long contemplated decision for sure! But I thought it would be helpful, so here I am!
We are the same age. Everyone colors their hair at this age. You looked stunning as a brunette.
Good job on the retirement budget.
Thanks! I stopped coloring my hair. If the light hits me right in the videos you will see I have a large grey streak going doing the side of my hair.
New subscriber here. Can you share how you plan to leverage the equity in your home to pay for medical costs? Also, can you talk about the CD ladder - what it is and how you're using it in your retirement plan? Thank you!
Welcome to the channel! I will add those topics to my create videos list! For the CD ladder, essentially it is when you open a number of CDs with different maturity dates. This way I can take advantage of higher APYs offered on longer-term CDs, without locking up my cash for a long time. Hope this helps.
Thanks for sharing. What is your monthly expenses and how much do you withdraw from each account?
Hi! My monthly expenses are $3800, and I can drop it down by another $400 or so if I needed to. I am taking cash out of my savings right now and haven't had to draw down on any investments yet.
when you say moving from deposits to Etfs with guaranteed returns, that is not always the case, because u need to place orders to buy etfs, and prices can be at highs, then the market can drop
HI! I did not say any of my investments had a guaranteed returns. Sorry if you misunderstood!
Nice video, I love to see how others are palnning their finances. I am curious to see how it works out for you.
I have subscribed and I see you are very close to that 1K mark, congrats.🙌🏼👊🏼
Thanks for the sub! I’m so excited to see my channel is resonating with so many! Any topics you’d like me to cover?
@@retirethisway I like to see what other retirees monthly expenses are.
Ok, thanks for the input!
You might have already said this, but I’m wondering how much you take out each month to live on. Your videos are great!
Hi! I’m spending $3800/month.
I have a descent amount of pension income which aids me in keeping a high risk tolerance. (which I have always had). Being in some higher risk/higher reward investments is one way to keep ahead of inflation. When you eventually take Social Security you may feel more comfortable to go after some higher returns with more of your nest egg to keep ahead of inflation. The last 3 years or so have been brutal. Smaller gains are actually going backwards.
Thanks!
Instead of an ETF, would you consider a high-yield savings account that guarantees 4%?
Hi! I have both!
Nice to see the bigger picture...
Yay! I’m glad that it’s helpful!
Thanks for being so candid. Can we assume your home is paid for?
It is not!
If you are just building your savings how are you paying the $3800/month?
I’m not sure what you mean. I have over $500k and a substantial portion of that is in cash and a cd ladder. That is how I pay for my monthly expenses.
She has over 200k in "cash" lol. She's good for at least 3 years. Then at 62 with social security she won't have to withdraw as much from her portfolio. Plus when her house gets paid off that drops her expenses even more. She has a nice setup.
@@retirethisway- You said your buckets all went up but your emergency cash went down but less than your expenses. So I was confused as you didn’t say you were pulling from your other buckets. I didn’t realize you were pulling from your buckets as well, I thought they were untouched and growing.
@@FilamentFriday I’m not sure how this got so confused for you! I’ve only pulled from bucket 1. Buckets 2 and 3 grew from interest and market growth. That’s what I mean when I say my portfolio is up. I am talking about growth
@FilamentFriday they are untouched and growing
Do you have an HSA in retirement? I have the ability to have one in retirement until hit age 65 and then the HSA contributions have to stop because of Medicare. I will max it out until I have to stop.
Yes I do. HSAs are THE BEST! Triple tax advantaged.
You mentioned pre tax IRA. So the total figure shared is not correct, right?., as have to factor in tax too?
The figures are correct, this is my portfolio. There are tax strategies I will implement, which will keep my taxes negligible!
I’m curious about the plan to take SS at 62. It’s a huge decision and taking it early is generally not advised. Im curious if you’ve modeled this decision?
Yes, and I am confident in that path. I will evaluate at 62, just to confirm. But I’m 99% sure that’s the path I will take.
@@retirethisway I’m not questioning your judgement here, just for anyone else reading this. There are a lot of dynamics involved in the decision about when to take social security, particularly for anyone going into retirement single. For many of us it’s the single most valuable retirement asset we have, with inflation adjustment, and when we take it impacts taxes on everything from Obamacare to Medicare, as well as all other retirement distributions. If you haven’t spoken to a fee only financial advisor who does actual retirement tax planning, please don’t just take it based on one your spreadsheet says. It’s a huge decision to take it early and getting it right is worth paying a modest fee to someone who can help you make the right decision for you. In case you’re curious, I’m not a financial advisor, nor do i work in the industry. But i am planning my own early exit from work and everyone, and i mean everyone, has advised me - do not make the SS decision without having someone first properly model your retirement for you. It’s a huge decision that you’ll live with for the rest of your life.
Congrats on your portfolio doing great. However, you should think about and factor in inflation. Since Biden took office, inflation is up over 20%. No, I do not want to get this into a political discussion!!! The facts are that EVERYONE needs to keep in mind that if their portfolio is about the same as when Biden took office, then their portfolio is actually down 20%. Since you are recently retired, maybe this has not really affected you. However, for those who have been retired, if their portfolio has not gone up 20% over the past 4 years, then they are actually losing, financially, because of inflation, since cost of living has gone up 20%. Our dollars just do not go as far now. Hope everyone is doing well...
I agree, inflation is a big consideration, especially for those of us a fixed income! What are you doing to stay ahead of it?
@@retirethisway Most will think that I may be taking excessive risk(s) because most of my investments are in stocks and some ETFs. Not just any stocks, though.. Most of my stocks consists of larger companies that pay annually growing dividends and those stocks also have a long(er) term history of paying those growing dividends. Also, almost all my stocks have shown capital appreciation (growth). That combination of "features" of the stocks that I own make them really special. I definitely made some mistakes along the way with some poor decisions, but that was part of how I learned things. For the most part my research has helped me pick some very good stocks that I will probably hold forever. I have done a lot of financial learning over the years. I have been retired over 9 years and the amount of dividends (income) I receive has increased every year, consistently. Those dividend increases have exceeded inflation even during Biden's administration. When I was approaching retirement, I thought long and hard about how drawing down my 401K/TIRA, would affect my retirement. I didn't want to worry about dwindling retirement assets, so I needed to figure out a method to minimize the drain on those assets. I am now at the point where my S.S. benefit and dividend income are close to supporting my cost of living without having to draw down or sell any of my retirement assets. Some may call me lucky, but I don't look at it that way. It was not luck. I put in the work to did the research, made mistakes, and learned. I think anyone could do this, since I have been able to. However, most won't put the time and effort that I have put in. Too many people have the "get rich quick" mentality. That may work for a few, but for the most part it doesn't. It takes time and effort, but it has been worth it.
@@retirethisway - Most will think that I may be taking excessive risk(s) because most of my investments are in stocks and some ETFs. Not just any stocks, though.. Most of my stocks consists of larger companies that pay annually growing dividends and those stocks also have a long(er) term history of paying those growing dividends. Also, almost all my stocks have shown capital appreciation (growth). That combination of "features" of the stocks that I own make them really special. I definitely made some mistakes along the way with some poor decisions, but that was part of how I learned things. For the most part my research has helped me pick some very good stocks that I will probably hold forever. I have done a lot of financial learning over the years. I have been retired over 9 years and the amount of dividends (income) I receive has increased every year, consistently. Those dividend increases have exceeded inflation even during Biden's administration. When I was approaching retirement, I thought long and hard about how drawing down my 401K/TIRA, would affect my retirement. I didn't want to worry about dwindling retirement assets, so I needed to figure out a method to minimize the drain on those assets. I am now at the point where my S.S. benefit and dividend income are close to supporting my cost of living without having to draw down or sell any of my retirement assets. Some may call me lucky, but I don't look at it that way. It was not luck. I put in the work and did the research, made mistakes, and learned. I think anyone could do this, since I have been able to. However, most won't put the time and effort that I have put in. Too many people have the "get rich quick" mentality. That may work for a few, but for the most part it doesn't. It takes time and effort, but it has been worth it.
Inflation in this case was a result of the economy ramping back up after covid with a ton of new money in the economy due to the stimulus packages and the delayed spends caused by the pandemic. Take a look around the WORLD. The same was true everywhere.