The 5 Secret Wealth Killers Retirees Don't Notice Until 70
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Eric Amzalag, CFP®, RICP®
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Interesting points of discussion. I personally would shade some of them differently. For example, all median life expectancy might be in the 70s, but if you already made it to 64 (didn't succumb to death in youth), your life expectancy number is a good bit higher. And on point 4, I think people making their own retirement plan, diet plans, and personal investment plans are good things for those so inclined and who educate themselves. No one cares about the health of your plan (retirement, diet, pre-retirement finance) more than you do. I think enlisting a professional for review is good too. I am cautious about value in a typical AUM arrangement. (ergo a more nuanced discussion)
I agree. If you are willing to put a lot of time into learning, you can successfully do it yourself. For me, it's worth it.
Nice video coverage keeping up with current trends and strategies can help traders stay ahead of the curve and make informed decisions, It is important for beginners in trading and investing to understand that success in these fields requires technical analysis, emotional maturity, and self-discipline. Thanks to steve michael steele insights, daily trade signals, and my dedication to learning, I've been increasing my daily earnings. Kudos to the journey ahead
He mostly interacts on Telegrams, using the user-name,
@ steve_894. he is verified..
I’ve just looked up his name and found him without sweat, very much appreciate this
I'm from Germany I used to take loan from bank for surviver but after trading for real expert steve micheal steele,he changed my financial status for real
Yes, it's amazing that you met steve michael s. It has been a blessing to me and my family.
Using a median life expectancy age from birth skews your results somewhat. Should to you use early 80's for men instead of mid 70's ?
There are no links in the description to register for a class.
A very financially savvy individual can design and implement their own retirement plan - it's difficult with many moving parts, but it's not rocket science.
Agreed. SS actuary tables show that a 64-year-old man is expected to live to 82 years old. I retired on my 56th birthday. Will do Roth conversions over the next 14 years and start taking SS benefits at 70. I have enough in cash and interest to live off until 70.
Great Video!
You are a little off on your description of the components of risk. The components of risk are Likelihood and Consequences. Plotted on an X-Y axis you get increasing risk as you move from left to right and bottom to top. You also find that significant risk can grow from either a high Likelihood of a negative event, or high Consequence of a negative event (either, alone), or a combination of the two. Reducing risk becomes a matter mitigating the causes of the risk as appropriate. In other words, looking for a way to reduce the likelihood, the consequence, or both of an action. In your climbing example, the guy reduces risk by attacking the likelihood of a fall. He could also reduce the consequence by using a safety line.
The climb may not have been risky, but that fall would be a beach!😅
I'm surprised that you calculate life expectancy the way you do. The numbers you use are for a newborn. If a person lives to age 65 their life expectancy is now around 83 for men and 85 for women. Those are the numbers you should be using, instead of the ones from birth. It's disappointing that you don't know that, or don't say that.
Agree. Saying a 64 year old male expects to live to his mid-70’s just made me stop, post this, and leave.
Geez people, relax. If that is his biggest mistake he is doing ok. This guy puts out a lot more wisdom than most TH-cam retirement “gurus”. Yes, you should take what TH-camrs say with a grain of salt, but HE IS THE ONE THAT SAYS YOU NEED INDIVIDUAL FACE TO FACE FINANCIAL PLANNING. that is good advice.
@@scottmetzger7621 I agree that he has some good advice. I've watched many of his videos. I was just surprised that he had this basic thing so wrong. It made me wonder what other things he has wrong. I'll continue to watch, but take things with the grain of salt you mentioned. He has become a bit of a clickbaiter. Video titles like "Asset allocation is a scam" are a turn-off to me. I know it's part of the TH-camr marketing game, but it's still a turn-off.